Quote from: Ever-young on October 02, 2023, 01:56:34 PM

Quote from: Kara3 on September 30, 2023, 09:05:00 AM

Government and their fear for Bitcoin!

Bitcoin as a decentralized digital currency that operate without a financial system or without being controlled by the government is really creating panick and fear in most government officials.

The government just want to be in charge of everything, from monitoring your transaction to knowing how much people are worth financially, but Bitcoin is becoming too powerful for them too handle, which to me is understandable, but to them it's a ugly reality.

The government is afraid of what they can’t control, and they are afraid that the people have found a new way to deal with their financial transactions and don’t have to depend on them any more, the people don’t need there permission to send a large amount of money across to both foreign and domestic receivers, they just do things that they like on there own.

The government is not fighting bitcoin directly but they are just trying to figure out a way that they can tap from the blockchain, since there citizens are into it shouldn’t they be benefiting from it, it’s been long I really read about a government of a particular country sanctioning there citizens and warning them not to use bitcoin service, it’s just an advise and caution kind of thing as they already know that they can’t stop it from happening.

But mind you the government is not in any War with Bitcoin, this is not an inter country conflict, they are just trying to protect there fiat system.

Governments are known for wanting control, right? Especially money. And Bitcoin? Definitely a game-changer. Decentralised Bitcoin is changing global finance. Without banks or intermediaries, anyone can send and receive money at will. Like, "Hey government, look at us, independent and stuff!"

What happens to the traditional economy if everyone joins on the Bitcoin train and trades it like its the latest thing? What happens to fiat currency? The government will soon be in a tough place, and getting out of it wont be simple.

Instead of fighting Bitcoin, they're trying to integrate it into their existing processes. Quite a dilemma. I laugh at the idea of a government scratching its head, but I also worry about the economics.