Post
Topic
Board Economics
Merits 1 from 1 user
Re: Economists advise caution in trading in Bitcoin currency
by
lizarder
on 29/11/2023, 21:00:57 UTC
⭐ Merited by G_Besar (1)
I don't care about what some brainless fellow said. By mentioning authorized currency he means it is not legal in the country which is true but this is the power of bitcoin where you can evade any ban from any jurisdiction. This is the freedom bitcoin can provide which other asset can not. There is no way to know the origin of a bitcoin owner and where he is sending or receiving it. This they can not control and that is why they are trying to defame it only by mentioning the negative side of bitcoin.
What do we care about what they say and ask one thing about how anyone can find a system of freedom like that provided by bitcoin. It is the job of economists to try to give a few words through their academic studies and their nature is for advice and what do they know about bitcoin so they dare say something like that? I don't want to talk about legal prohibitions through any jurisdiction because we know that Bitcoin is quite independent in providing financial freedom to individuals, so the aspect of choice can be taken as far as it can provide benefits and advantages.

To control the people they need to control the people's financial abilities. If mass adoption of bitcoin happens throughout the region then they will not be able to collect their illogical tax from their people. In bangladesh banks is paying a lower price for dollars than in the open market for remittances. If people start using bitcoin or other crypto for cross border payments their will be no profit from the banking sector. They will not be able to determine the price per dollar they want. They want total control and bitcoin is a threat to them.
In the end we have to talk about government profits through taxes imposed and the same way the banking system sucks the blood of its customers in search of profit. But that doesn't fully talk about taxes because when we convert bitcoin to fiat there are also taxes that are charged. They are afraid that this system can be destructive, which makes it difficult for banks to regulate and if they look further, they are afraid that they will not be able to control the freedom of their people in making choices in fiat or bitcoin. Forget them and do what we can so that we can set ourselves financial freedom through bitcoin because it is much better than the options that exist today.