Post
Topic
Board Bitcoin Discussion
Re: Government vs Bitcoin
by
Agbe
on 11/09/2023, 17:48:24 UTC
Governments frequently misunderstand bitcoin innovation.
This impression arises from the disproportionate bans and regulations they enact.
Although occasionally the bitcoin regulations appear unreasonable, I posit that bitcoin is not as detrimental as suggested. Please correct me if I am wrong.
I might agreed with to some extent because the first time when most of the government banned bitcoin they thought that bitcoin is an illegal innovation but later when they discovered that bitcoin is not illegal, most countries accept it indirectly and I am using my country as an example. My country CBN banned bitcoin and later, the vice president of the country suspend the ban though the ban is still have effect but it is not as serious as the first time again. And now government understand bitcoin very well and the only thing that holding them down not to use bitcoin is the fear that bitcoin will dominate the Fiat currency and they can't control bitcoin because of the decentralised nature.