Why are big leaders now opposing cryptocurrencies suddenly?

[fiulpro]

Hey

So Trump stated that he is not a big fan of cryptocurrencies including Bitcoins and Libra if it wants to come in the market may need a banking charter since they support unlawful behavior.

He also went ahead to say how the price if based on thin air.

I think these are the following reasons which compelled him to make public statement along with all other influential people.
(I don't personally consider Trump influential but UK ...he is the US president he may ban Bitcoins at any time so let's just go with it 😂)

1. He just wants to rekindle the public interest in Dollar , which infact is showing a weak growth this year.

2. He is scared that people are more interested in cryptocurrencies like Bitcoins and libra whose value he stated is * volatile and based on thin air*, which in turn is an excellent opportunity for the traders , they may get daily profit , which is more than USD

3.he is just scared that Facebook cryptocurrency despite being a cryptocurrency might just be converted into a bank and it could dominate all the existing ones , let's be honest even my grandma is on Facebook' it is going to spike public interest so fast.

I think whatever he said and whatever others are saying about Bitcoins and other cryptocurrencies is not because they are scared it might bring unlawful behavior , but infact because they are scared it will give the power to public , the public money will be theirs to hold , and the banks and governments can no longer regulate it. Their own currencies will become weak .
It's not concern of society , it's just they fear what revolution it might bring.

( Let me know if you guys need the link about what's being said but I actually just summed up the 2 page article the main points are in the starting para only.)

For people who insists on saying it was only one quote by Trump:-

" Trump joins other government leaders and central bank chiefs including Federal Reserve Chair Jerome Powell, French Finance Minister Bruno Le Maire and Bank of England Governor Mark Carney to speak up against Libra"

[pooya87]

leaders? as in plural? it was one tweet by Trump!

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.

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"

[djadmika]

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"

[crypmon259]

Most Leaders around the world are of older generations with old thinking. They always are skeptical about new changes , be it in their own lives or outside. Almost all leaders want to control the masses in every country . Having a centralized banking sector will help them achieve that , cos they can control and manipulate the masses with various means.

But cryptocurrency is changing that mindset, it is giving the power to the people. People can decide where to keep their money , either in the bank or in a hardware wallet which government cant control . So in other words government is wary about losing massive tax as they wont know how much one person has in his portfolio in that hardware wallet.

Also right now there are many privacy coins or tokens are coming , which then makes it near impossible for anyone to check the source.

It is all about control and leaders are mostly business people themselves. They want to control the masses always and never ever want anyone do their own thing .

[TimeBits]

OP link the tweet at least https://twitter.com/realDonaldTrump/status/1149472282584072192


Donald J. Trump
‏Verified account @realDonaldTrump

I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity....

....Similarly, Facebook Libra’s “virtual currency” will have little standing or dependability. If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks, both National...

...and International. We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!

_______________________________________________________________________________ __________________________________

Well at least bitcoin is backed by thin Air, What is U$D backed by? $lavery and or nothing. What a goof, most dominant in the world because you invade other countries who do not accept your $cam $hit $lavery money.

IMPEACH THIS FUCK, AND ELECT YOURSELF!   

[vinc3]

Fear that soon enough their people will realize that their banking system does not protect their money anymore (INFLATION RATE). In this rate may will go to the most viable candidate that holds enough INTRINSIC VALUE in the long run ---BITCOIN and other coins.When this scenario happens surely their government will fall to the grounds like rubble.

[kaya11]

Hey

So Trump stated that he is not a big fan of cryptocurrencies including Bitcoins and Libra if it wants to come in the market may need a banking charter since they support unlawful behavior.

He also went ahead to say how the price if based on thin air.

I think these are the following reasons which compelled him to make public statement along with all other influential people.
(I don't personally consider Trump influential but UK ...he is the US president he may ban Bitcoins at any time so let's just go with it 😂)

1. He just wants to rekindle the public interest in Dollar , which infact is showing a weak growth this year.

2. He is scared that people are more interested in cryptocurrencies like Bitcoins and libra whose value he stated is * volatile and based on thin air*, which in turn is an excellent opportunity for the traders , they may get daily profit , which is more than USD

3.he is just scared that Facebook cryptocurrency despite being a cryptocurrency might just be converted into a bank and it could dominate all the existing ones , let's be honest even my grandma is on Facebook' it is going to spike public interest so fast.

I think whatever he said and whatever others are saying about Bitcoins and other cryptocurrencies is not because they are scared it might bring unlawful behavior , but infact because they are scared it will give the power to public , the public money will be theirs to hold , and the banks and governments can no longer regulate it. Their own currencies will become weak .
It's not concern of society , it's just they fear what revolution it might bring.

( Let me know if you guys need the link about what's being said but I actually just summed up the 2 page article the main points are in the starting para only.)

As if all the leaders in the world would take serious actions on what Trump says in his social media accounts. Aside from that we can't really be sure what lies beyond the reasons that some of the country leaders has to go against crypto suddenly. maybe they want it to pull down the price back in order for them to ride the tide. It is still unpredictable, human is constantly changing and that includes their decisions whether they would accept crypto or not.

[sunsilk]

I have a doubt with what he said and he's just trying to push the prices down so that he can enter. Just like the typical Jamie Dimon move and other well known personality did to bitcoin and suddenly admitted they are into bitcoin.

But let's assume I'm wrong on that part and being a leader, he would always oppose to what opposes the government. Bitcoin is decentralize and it's against to what the gov't has in finance/money.

[marcbitcoins]

I don't think any big or famous leader are opposing Crypto other than Trump although some nations are againts Crypto but it doesnt mean that their President are against it but they just depending on their cabinet members decisions. Trump is honestly against Crypto investments but the good thing is he never urge his administration to do not support Bitcoin but only his personal opinion regarding the existence of Crypto currency.

[Kakmakr]

This is the same guy who had several failed businesses and who were declared bankrupt six times? https://www.thoughtco.com/donald-trump-business-bankruptcies-4152019  So, you want to take advice from someone that cannot even manage his own financial matters properly?

This is also the same person that has zero respect for women.    He was recorded and I quote : “when you’re a star, they let you do it”  “Grab them by the pussy” Trump says. “You can do anything.” .... 

Is this the kind of guy people want to take financial advice from? Wow!!!

[btc78]

Fear that soon enough their people will realize that their banking system does not protect their money anymore (INFLATION RATE). In this rate may will go to the most viable candidate that holds enough INTRINSIC VALUE in the long run ---BITCOIN and other coins.When this scenario happens surely their government will fall to the grounds like rubble.

Absolutely and not only their banking but the whole world,we knew how huge money from the bankers to lobby the government and I believe that same reason why some governments go against cryptocurrency specially bitcoin because of their benefits from banks and maybe some are owned or manage by them

I have a doubt with what he said and he's just trying to push the prices down so that he can enter. Just like the typical Jamie Dimon move and other well known personality did to bitcoin and suddenly admitted they are into bitcoin.

But let's assume I'm wrong on that part and being a leader, he would always oppose to what opposes the government. Bitcoin is decentralize and it's against to what the gov't has in finance/money.

Correct same as whales strategy to bring the value down so they can buy freely and very cheap,we also know trump being a businessman and everything that can give him profit is surely will be his priority

[eaLiTy]

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"

A situation like this is not even hypothetically possible to have one united world, the world revolves around competition and you can compare everything you see in your daily life and you will see the competition factor, so unity is a dream that will not be achieved in a normal world  .

@OP I see that Trump tweeted about his point of view, the problem here is that almost every stock trader or financial investor invest in something seeing the potential and the growth using constraint , you can view it in away way or form but mathematically constraint is used to determine how they evaluate things with a set of factors including company performance and policies to determine where they are heading to achieve their goals, but when it comes to bitcoin market or the crypto market in general there is not set constraint as the market moves based on supply and demand solely and that confuses almost all investors as they do not understand how to set a correlation, the only solution is to accept the new market and move on  .

[sunsilk]

I have a doubt with what he said and he's just trying to push the prices down so that he can enter. Just like the typical Jamie Dimon move and other well known personality did to bitcoin and suddenly admitted they are into bitcoin.

But let's assume I'm wrong on that part and being a leader, he would always oppose to what opposes the government. Bitcoin is decentralize and it's against to what the gov't has in finance/money.

Correct same as whales strategy to bring the value down so they can buy freely and very cheap,we also know trump being a businessman and everything that can give him profit is surely will be his priority

Yeah he's a businessman and also into economics. Same thing that we've heard with those economics expert telling their opinion about bitcoin. But who knows if he's really telling what he feels about bitcoin or there's something inside with his tweet.

Is this the kind of guy people want to take financial advice from? Wow!!!

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

[Haunebu]

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

Everything he says is almost always negative which is why most people around the world don't think of his words too much. Many americans themselves don't consider him as their president.

Its funny that you think that many people care about his opinion just because he is the most powerful man on Earth. He is shilling the dollar and nothing more.

[djadmika]

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"

A situation like this is not even hypothetically possible to have one united world, the world revolves around competition and you can compare everything you see in your daily life and you will see the competition factor, so unity is a dream that will not be achieved in a normal world  .

That is why I say that most governments of a country are blocking the use of cryptocurrency as a media transaction because it will eliminate the role of the government but still trying to apply blockchain to several sectors that might be able to accept its technology.

I agree that One United World in a literal sense is not possible. But what if one united world is only in one aspect, trading or payment for example, where we can sell and buy goods across countries without any restrictions from the government of a particular country? Of course, assuming that all countries accept the use of cryptocurrency as a legitimate payment medium.

[NeuroticFish]

Let me know if you guys need the link about what's being said but I actually just summed up the 2 page article the main points are in the starting para only.

While there was only Bitcoin, with no powerful company behind it, they didn't feel threatened, but the birth of Libra has changed the game, making them look more carefully at crypto currencies.
Somebody like Trump has to protect his country's currency. It's about the trust in the economy, the signals to investors and so on.
Also, as I said on another thread with similar subject:

He doesn't like competition, especially when the competitor's "product" is better than his.
If you look in a simple way to the US Dollar - in the same way he looks at Bitcoin - you'll see that US dollar is also "based on thin air". The only difference is that he can dictate the price change of US dollar, but he cannot do much about Bitcoin.

[Johnzky]

Is this the kind of guy people want to take financial advice from? Wow!!!

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

Actually people don’t listen to him as a president because more of them have no trust and believe in every words coming in his mouth.maybe better say that media does,they listen to broadcast and to gain another publicity,just like the way report comes every time

But I believe trump only wants to benefit from cryptocurrency that’s why he is making this press releases ,if what’s the intention?its for us to find out

[xWolfx]

I am against it too so i can understand why they were saying it.

It is pretty simple that this coin is going to generate a lot of questions and make a lot of people doubt about what to do. I mean, it's Facebook. Even after all the scandals it still has a pretty solid user base, not as nice as it was previously but the difference between what happened to them and what would happen to someone else who did something like that is noticeable.

If Zuckerberg is good at something is about making noise.

[antisocial77]

They stand against crypto until they decide into it and find a way to make extra billion dollars from crypto. I think he doesnt even know what blockchain is.

[Bitcoinqubit]

Hey

So Trump stated that he is not a big fan of cryptocurrencies including Bitcoins and Libra if it wants to come in the market may need a banking charter since they support unlawful behavior.

He also went ahead to say how the price if based on thin air.

I think these are the following reasons which compelled him to make public statement along with all other influential people.
(I don't personally consider Trump influential but UK ...he is the US president he may ban Bitcoins at any time so let's just go with it 😂)

1. He just wants to rekindle the public interest in Dollar , which infact is showing a weak growth this year.

2. He is scared that people are more interested in cryptocurrencies like Bitcoins and libra whose value he stated is * volatile and based on thin air*, which in turn is an excellent opportunity for the traders , they may get daily profit , which is more than USD

3.he is just scared that Facebook cryptocurrency despite being a cryptocurrency might just be converted into a bank and it could dominate all the existing ones , let's be honest even my grandma is on Facebook' it is going to spike public interest so fast.

I think whatever he said and whatever others are saying about Bitcoins and other cryptocurrencies is not because they are scared it might bring unlawful behavior , but infact because they are scared it will give the power to public , the public money will be theirs to hold , and the banks and governments can no longer regulate it. Their own currencies will become weak .
It's not concern of society , it's just they fear what revolution it might bring.

( Let me know if you guys need the link about what's being said but I actually just summed up the 2 page article the main points are in the starting para only.)

For people who insists on saying it was only one quote by Trump:-

" Trump joins other government leaders and central bank chiefs including Federal Reserve Chair Jerome Powell, French Finance Minister Bruno Le Maire and Bank of England Governor Mark Carney to speak up against Libra"

the ones that ask why taxis hate uber its the same with why they hate crypto ...

so if someone ask why tell him he need doctor very fast....because kid in age 7 know why taxi hate uber

and rich people from paper money also like the taxi compare to uber