Why are big leaders now opposing cryptocurrencies suddenly?

[deisik]

why? maybe because US dollar has been losing its place in the world despite what he is saying in that tweet, US dollar is no longer as strong as it once was. the sanctions, the war with China, the other viable options such as Euro, the corrupted banking system,... are the reasons why

And how do we actually estimate the strength of the dollar?

I know of one such measure, it is called the USDX (the US dollar index), which is the value of the dollar relative to the value of a bunch (so-called basket) of other major currencies including, ironically, already mentioned Euro. And this index has been pretty solid recently. In fact, it has been on a steady rise since early 2010s:



But probably you have some other metric reflecting the strength of the dollar other than the USDX

also this in some ways reminds of the Gandhi Quote:
"First they ignore you, then they laugh at you, then they fight you, then you win"

In Soviet Russia (corrected) in Trump's America they just shoot you down and get done with that

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[maydna]

We don't know what their reason is. But perhaps, it's because they cannot control cryptocurrency and they could only see the price moves up and down. There are many possibilities why they do that, and I don't think that they will tell the reason. As long as we could still use cryptocurrency, we should use it while we still have time to earn more money. We could hope that the government will realize that cryptocurrency is not an enemy for them, and cryptocurrency can help their people to gain the benefits for their lives.

[Rose_btc]

also this in some ways reminds of the Gandhi Quote:
"First they ignore you, then they laugh at you, then they fight you, then you win"

I think we should keep these lines in mind for starting any new venture or while stepping into any new technology.

OP the tweet was done long ago(weeks ago) and it had no much effect on the market.

[carter34]

Trump is the American president and I think he is playing that role which is, supporting the American dollar. Maybe if he wasn't the president, then I could be surprised.

Certainly, cryptocurrency and bitcoin are playing a role of modern payment. What can we do about that...

[bryant.coleman]

It is not necessary to take everything negatively. I agree that Trump was very hostile to Bitcoin in his communications. But at least he didn't threatened to jail Bitcoin users or to close down the mining farms (unlike some of the third world politicians). But again, did we actually expected Trump to take a friendly approach to Bitcoin? For my part, I didn't.

Now coming to the core issue, I am gladenned by the fact that the most powerful person in the earth has mentioned about Bitcoin. Although his tone was negative, whatever he said would result in millions of new users to Bitcoin. For me, Donald Trump just gave some free publicity to Bitcoin without charging a dime (which is quite surprising for a shrewd businessman like him).

[thecryptogandalf]

That is normal that they are against it because cryptocurrency and blockchain is mainly means decentralisation of transactions and financial system. You will not need any mediator such as banks which also includes the central banks. They dont want to see power of controlling slipping from their hands. All big financial players will be erased if crypto and blockchain continue to empower. Which means whole financial system can change and big players are well aware of it. I can say it is freedoom of finance because power will shift to the people.

However, I think there are also possible concerns that governments have right to be worry about. And it is regulation, governments worry about how the regulate and track all the crypto activities. So as a result fraud and scam risk will increase tremendously. I would say they are against to it, because for some way have right to be against it but also for some way they just against it because of their own interest. It is a double edged fact.

[Artemis3]

Almost all governments are generally threatened by the existence of cryptocurrency. This can be understood because the government might be afraid of the decentralization system which is the basis of the cryptocurrency. Although they acknowledge that the technology behind cryptocurrency can make financial market infrastructure such as payment systems more efficient, they still worry about the risks that might arise with the existence of cryptocurrency itself, for example, the potential for financial crime, security violations (hackers), operating failure and others. Apart from that, the existence of cryptocurrency is still considered to disturb the financial stability of a country because no one can control it.
But in my opinion, the most feared thing by the government if in the end cryptocurrency is accepted as a legal payment instrument is the absence of a role from the government itself. The central bank can no longer be a transaction mediator, the government can no longer manage the transactions that occur, all will be done peer to peer between users. At present what the government can do is accept cryptocurrency as an investment instrument while studying the application of blockchain technology to all sectors.
If at any time, I don't even know when, cryptocurrency is generally accepted throughout the world, then Mike Tramp's dream when creating When The Children Cry songs will be real. "No more presidents, And all the wars will end, One united world under God"

The governments themselves are not threatened, but their ability to manipulate the money is. Such as overspending and then hiding it by making everyone poorer (filling the gap by printing some more). These types of governments are better to cease to exist. Separation of money from State is good. No more lies, no more playing with people's money.

There is also a LOT of corruption with this in many places. The worst example always lies with the worst inflation, which is my country of course.

They fear that they cannot change the rules of money on a whim. They have been accustomed to sign a decree overnight to fix some stupid mistake of theirs (or to cover some thievery). Well good riddance.

Those countries more used to transparency, freedom and sane economies, are more willing to open themselves and embrace Bitcoin. The dirtiest are the ones opposing it the most.

[kawetsriyanto]

People want to listen to him because of being the president and everything he says something becomes of the trend.

Trump always makes controversial statements. I am not surprised by his statement about Bitcoin and USD. Just chill out, it doesn't affect so much on Bitcoin improvement. It is like John McAfee becomes controversial on his statement, so Trump also did it.  
Moreover, he is the USA president, people will be attracted to his statement for sure.

[Msworld83]

Do crypto community really need their consent to be what we want ? No , so let them stay their lane and we do our thing as we grow , JP did more than this and where is he today ? So I think we only need to focus on our lane and be happy that it can't be killed for their own selfish interest.

[michellee]

Do crypto community really need their consent to be what we want ? No , so let them stay their lane and we do our thing as we grow , JP did more than this and where is he today ? So I think we only need to focus on our lane and be happy that it can't be killed for their own selfish interest.

Yes, let them say what they want. If we follow them, it only makes us panic, and they will be happy to see the panic of the people so they can use the moment to get the benefits. If we can stay calm for everything they say, they will search the other way to make us panic again and again. They will stop for a while if people don't listen to them, and maybe they will confuse to find out how they can make us panic.

[42K]

Do we need permission from them before investing in cryptocurrency? ts surprising that the big leaders are now opposing cryptocurrencies because they know what cryptocurrency can do. Sometimes its really ridiculous. They just want us to panic.

[tippytoes]

Do we need permission from them before investing in cryptocurrency? ts surprising that the big leaders are now opposing cryptocurrencies because they know what cryptocurrency can do. Sometimes its really ridiculous. They just want us to panic.

For newbies in crypto, they might panic hearing their thoughts about crypto. But for old timers here, our lives go on. We don't need them to invest in crypto. I'd say later on, I believe their staunch on crypto will change. Maybe, they need to be intensively educated with cryptocurrencies and blockchain, so they will learn the benefits that a specific institution can derive from it.

[pundit]

Most of the govts and big financial institutions are opposing cryptocurrencies,it may be because crytocurrency being a big threat to centralize banking system which indirectly may be a thread to base currencies. Being decentralize in nature, it is difficult to track transactions of cryptocurrencies and once it is adopted by common people, power from the centralized institutions will slip which are ultimately controlled by govts. I think the increasing demand and popularity will force govts.to recognize cryptocurrencies.

[pawanjain]

He might have his reasons for not supporting bitcoin or Libra but that does not mean the bitcoin revolution won't take place.
It still has full chances to revolutionize the world globally. May be in the next financial crisis, may be sooner or later.
Unless and until there are people like us supporting bitcoin, bitcoin is here to stay and grow.

[jostorres]

Do crypto community really need their consent to be what we want ? No , so let them stay their lane and we do our thing as we grow , JP did more than this and where is he today ? So I think we only need to focus on our lane and be happy that it can't be killed for their own selfish interest.

If they are going against bitcoin to them, they will end up only making some mistakes that will make other countries richer and powerful tan then. Bitcoin system is what can be used underground without their knowledge e and it will be draining their financial resources is they are not making efforts also to make an input in it. 

This is exactly what Facebook did too, they were against cryptocurrency by banning all adverts as regards cryptocurrency, but what eventually happened in the end, they saw that other social media was already using cryptocurrency which is making them gaining more popularity and Facebook wanting to be on the lead, had to join them also after seeing the benefits of it to those that has already implemented it and using it. This is the same way that I believe US will turn back too.

[nicecrypto]

One thing i know Trump is not entirely wrong about is the volatility of crypto, i mean we can all witness how the price will move upward or towards within a blink of an eye, but that doesn't stop many people to embrace the use of crypto which as mentioned is appearing to be a big treat to the government and some influential people, inspite all odds btc still standing strong and that is a sign of danger to 'em

[killat]

Btc won't get banned by any regulations, even if some countries do it, most of them WON't because there is a opportunity for everyone, even for them. And regulations are bullshit, no one can stop you from using it.

[deisik]

One thing i know Trump is not entirely wrong about is the volatility of crypto, i mean we can all witness how the price will move upward or towards within a blink of an eye, but that doesn't stop many people to embrace the use of crypto which as mentioned is appearing to be a big treat to the government and some influential people, inspite all odds btc still standing strong and that is a sign of danger to 'em

Why would Trump all of a sudden start to care about the volatility of cryptocurrencies?

There are enough assets which also have tremendous volatility and quite on par with crypto (like trash stocks). Even crude oil can be as volatile as fuck. There are financial instruments which are purely speculative, for example, volatility indexes, and they are named after volatility for a reason. Why nobody tells this dude about it? Or maybe, it is him who is not telling us the whole truth? But half-truths are often even worse than outright lies

[Renampun]

In theory, you can not collect taxes from Bitcoin. Without taxes, the government will not be able to function normally. Maybe they're just afraid that Bitcoin will one day kill them?

not only "taxes" but "controls" too.  The United States is one country that all want to be at hand, they are just afraid they cannot control the cryptocurrency.  
the reason from Donald Trump doesn't make sense to me,  He is afraid that Bitcoin will be used as funding for terrorists and other crimes!!!!  The blockchain technology used by cryptocurrencies is able to provide information on where each cryptocurrency goes out, so I think Donald Trump reason isn't right.

[killat]

The central banks have a massive ponzi scheme thats going down soon with the negative interest rates. this monetary system as we know it is a total scam, meant to rob you.

Like someone commented, btc is run by iundividual nodes across the globe, it cant be shut down. although there is about 80% of the circulating supply controlled by 2 % of wallets, but.... nonetheless, the usa is banning something that, under uc article 9, isnt defined.
Just like with mmj, they have to find a way to come out on top , once they find out then they make it legal.
i am no economist but if you think holding on to dollars/fiat is a good thing then ill happily buy more btc and altcoins. This ponzi scheme we call central banks are not going to last for long.