Compared to fiat currency, Digital currencies are very powerful in-terms of control. You can control your own coin.
You are very correct about that. Crypto currency are decentralized which can not be controlled by government or any other body, except through Centralized exchanges. With crypto currencies you can be at the comfort of you home and send bitcr across the universe, without going to bank for western union money transfer.
There is no interference from the government, no one can rob it or counterfeit it. You can use it globally and expand your business internationally. I don't find anything more powerful than this! what is your thoughts on it !
Bitcoin poses as the hedges against government financial policies by providing to them money can transferred across the nation without government control. And that is the more reason they never wanted it to exist. These reasons are:
1)bitcoin can be transferred to any country at anytime without government intervention or interference.
2)bitcoin can not be manipulated or can not be taxed
3 bitcoin possesses the characteristic of anonymity through smart contract address
4) bitcoin is money and also can be traded by anybody.
5) large amount of bitcoin can be moved or store in a wallet and the pass please can be stored and retrieved anytime and it doesn't need update or upgrade like bank.
6) bitcoin is not a cash which can be renewed at any given time. Which government uses all this policies to make money. with they seize the chance of making profit. That's why they hate bitcoin. I think before sending money abroad you will need to fill form for western union and it might even take up to some days before getting to the recipient but with bitcoin, in a minutes you can run a transfer and the recipient can receive emideately.
that's why they don't like.