Continue believing in Bitcoin when the government says not to?

[Fazlurkhan.kz]

After last years record of bitcoin, it came in the bright light an more and more people got introduced to cryptocurrencies in general. But after that the government officials and banks started to convince people to avoid indulging in the cryptocurrency world, be it any virtual currency.
A lot of banks have stopped purchase of any cryptocurrency through their cards and some trading sited have also warned users to withdraw all your money from trading and put a hault on any trading activity. They say as cryptocurrencies are highly volatile, one could go in great debt as reaching unprecedented heights is not promised to anyone.
What are the legit and massive reason one should truly keep believing in bitcoin and cryptocurrencies other than it being anonymous and it lets people have control over their money?!

[1715272176]

1715272176

[1715272176]

1715272176

[1715272176]

1715272176

[Kakmakr]

Government are telling you to support Banks. You trust these Banks, because you think the government will protect you. Wrong! What happened with the last economic crisis? The Banks got into trouble, because of Fractional-reserve practices and reckless loans and the government stepped in to help them.

How did they do that? They took more of your money <taxes> to bail out these Banks.

Do you still think governments care about you? They want to destroy Bitcoin, because it takes away some of their power over you. <There is no Banks in Bitcoin, so they cannot control your money>

The only reason why Bitcoin is still here, is because governments cannot shut it down completely. <Bitcoin is decentralized>

[Herbert2020]

don't confuse warnings with full on opposition.

it is logical to give warnings about cryptocurrencies and encourage people to invest more responsibly. all the countries have already given such warnings because people have been getting reckless and were taking huge risks, for example using their credit cards and maxing them out to buy bitcoin.

but going against bitcoin, banning it,... and generally any FUD is a different story. it is not something you should follow. you should stop believing in your government if they do something like that, and maybe they need to be changed if they are setting laws that are against what you believe in...

[Derek86]

I think one cannot stop the revolution, they will join the game. These news about risk of up and down only gives chance to government and agencies entering the market with cheep prices

[kurdapyo]

maybe the reason why the government were trying to stop the bitcoin is that they dont get any share, imagine, the transaction is people to people, no bank, and the government dont receive money from the bank

[jseverson]

They say as cryptocurrencies are highly volatile, one could go in great debt as reaching unprecedented heights is not promised to anyone.

Your statement here is true though. Bitconnect was outed as a ponzi, but it was regarded by many as a legitimate cryptocurrency prior to that. How many people lost their life savings in that? I'm not saying all cryptos are ponzis, of course, but even if you had put money in that, but did it responsibly, then you shouldn't have any problems in the long run. I do believe most entities have hidden agendas in opposing crypto, but the warnings are likely there in part to encourage responsible behavior.

Either way, you shouldn't listen to anyone blindly. Governments have been known to be dishonest at times.

[Deddy_Kazekage]

Yes .. because I believe the Government does not prohibit about Bitcoin .. but the Government only takes time to receive Bitcoin ..

[pentol86]

whether or not this crypto, the bank can rob your money. so crypto actually not  same line with banks, different process, but same result, and i dont know why some banks denied crypto

[First77]

What are the legit and massive reason one should truly keep believing in bitcoin and cryptocurrencies other than it being anonymous and it lets people have control over their money?!

In 2012, there were lots of talks about "Buy 1 ounce silver. End the Fed". Then Silver price crashed from $50/ounce to $9/ounce.

[surfinonmyownwavebaby]

What are the legit and massive reason one should truly keep believing in bitcoin and cryptocurrencies other than it being anonymous and it lets people have control over their money?!

Firstly the reason above should be enough to believe in Bitcoin because privacy is something that should be sacred to each human. We shouldn't have to sacrifice that just because there are a couple of bad actors out there. We shouldn't have to submit ourselves to KYC and AML just because there some terrorists and bad people out there. Another big reason for you to believe in Bitcoin is that it will give the rest of the world who has never had a chance at banking, for the first time they will be included in the system. If that isn't something magical, I don't know what is.

[felipe04]

After last years record of bitcoin, it came in the bright light an more and more people got introduced to cryptocurrencies in general. But after that the government officials and banks started to convince people to avoid indulging in the cryptocurrency world, be it any virtual currency.
A lot of banks have stopped purchase of any cryptocurrency through their cards and some trading sited have also warned users to withdraw all your money from trading and put a hault on any trading activity. They say as cryptocurrencies are highly volatile, one could go in great debt as reaching unprecedented heights is not promised to anyone.
What are the legit and massive reason one should truly keep believing in bitcoin and cryptocurrencies other than it being anonymous and it lets people have control over their money?!

Actually the popularity of digital currency is bad for bank because think if we can save our own money here with no fees at all not like bank that you need to pay atleast a little so still there's a fees

But better to do is to save money in bank and here in crypto wallet also for more good

Here in my country they help each other company in their business to earn and we have digital wallet and for our own money wallet too

[stevenwong2107]

For Government, they are protect of legal currency, if all use bitcoin, the government will loss  their power of control the country and they will loss the administration ability. That's why they said no to bitcoin. Because bitcoin is cryptonym and decentration. Just this reason, in this range there are some project or person is scamer, so country give warning.  Also in Bitcoin range the up and down is very huge, not just 10%-20%, it will huge mabye one day is 100% or 1000%, or oneday you will just loss about from 1 to 0.1 or 0.01, this is risk.

 

[dado7]

I think the main advantages are: decentralization, free regulation of money supply and distribution, smart contracts (dealing with legislative issues) and smart platforms for investments in new technologies.

About decentralization you can find an interesting discussion we had here, check it out if you want: https://bitcointalk.org/index.php?topic=2863445.msg29392144#msg29392144

[angelakrasnova]

I think they will not be able to stop what has long since become a reality in people's lives, bitcoin has been around quite a while in a circle of different communities and it is unlikely that the government will be able to stop it.

[vdhsas]

The government does not proceed from an individual point of view. Instead, it treats bitcoin from a national perspective. Bitcoins are not conducive to government surveillance of people's property, so they just tell you not to believe it.

[TheGodFather]

After last years record of bitcoin, it came in the bright light an more and more people got introduced to cryptocurrencies in general. But after that the government officials and banks started to convince people to avoid indulging in the cryptocurrency world, be it any virtual currency.
A lot of banks have stopped purchase of any cryptocurrency through their cards and some trading sited have also warned users to withdraw all your money from trading and put a hault on any trading activity. They say as cryptocurrencies are highly volatile, one could go in great debt as reaching unprecedented heights is not promised to anyone.
What are the legit and massive reason one should truly keep believing in bitcoin and cryptocurrencies other than it being anonymous and it lets people have control over their money?!

I think yes, we really have to see for ourselves and experience the brilliance and the wonders of bitcoin. Granted that the government has valid points in ehich it can raide some concerns towards its integration provess and the likes to its country. It is still something that we believe in because it works for us and we have been benefitting from it and we know that given enouch chance or the technology to be integrated slowly then it would be a big boost not just to the economy nut a great step forward into our future

[heureca]

After last years record of bitcoin, it came in the bright light an more and more people got introduced to cryptocurrencies in general. But after that the government officials and banks started to convince people to avoid indulging in the cryptocurrency world, be it any virtual currency.
A lot of banks have stopped purchase of any cryptocurrency through their cards and some trading sited have also warned users to withdraw all your money from trading and put a hault on any trading activity. They say as cryptocurrencies are highly volatile, one could go in great debt as reaching unprecedented heights is not promised to anyone.
What are the legit and massive reason one should truly keep believing in bitcoin and cryptocurrencies other than it being anonymous and it lets people have control over their money?!

Yeah, governments try to regulate criptocurrency market because it is a lot of money out of government control. However, I hope this issue will be resolved in future

[endlings]

Government are telling you to support Banks. You trust these Banks, because you think the government will protect you. Wrong! What happened with the last economic crisis? The Banks got into trouble, because of Fractional-reserve practices and reckless loans and the government stepped in to help them.

How did they do that? They took more of your money <taxes> to bail out these Banks.

Do you still think governments care about you? They want to destroy Bitcoin, because it takes away some of their power over you. <There is no Banks in Bitcoin, so they cannot control your money>

The only reason why Bitcoin is still here, is because governments cannot shut it down completely. <Bitcoin is decentralized>

Bitcoin is out of government control, so the government thinks all cryptocurrencies are dangerous because they have no control over it. But we can ponder over whether bitcoin really is dangerous, it's just a technology, a technology that everybody knows knows of potential, not an unlawful item.

[Don Pedro Dinero]

I believe in bitcoin for many reasons, but the government telling me not to, it is another strong one I have to believe.

[okour999]

there are foreign govenrations that can not handle the bitcoin so they do not want it in their country and think they will not earn it if they can not handle it and another is not as tax bitcoin so they just do not want bitcoin and want to ban their country