Why are big leaders now opposing cryptocurrencies suddenly?

[Bitcoinqubit]

As Facebook has a big userbase around the world it gets them ease in making cross border transactions and other cross border e-commerce with ease causing a downfall in the usage of dollars. This will surely cause some drop in the value of dollars, to use dollars it is to use several procedures and intermediary services when making payments from outside USA. Those all factors will make users prefer libra and upon the same is the reaction of Trump.

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

[hatshepsut93]

This is all because of Libra. Most governments didn't really care about cryptocurrency, until Facebook became serious about their coin, which happened only recently. If you remember, there was a lot of scandals around Facebook in the past, so this time governments want to be proactive and take measures before a problem arises, instead of dealing with Facebook's mess later. I don't think anyone has problem with alternative payment methods, after all, there are PayPal and Venmo and others, and banks don't panic that those are going to take all their users. The problem is that Facebook will get access to financial data of millions or even billions of people, and will share it with others, and then inevitably cause a lot of harm to people. Facebook is becoming too powerful, simple as that.

[Bitcoinqubit]

This is all because of Libra. Most governments didn't really care about cryptocurrency, until Facebook became serious about their coin, which happened only recently. If you remember, there was a lot of scandals around Facebook in the past, so this time governments want to be proactive and take measures before a problem arises, instead of dealing with Facebook's mess later. I don't think anyone has problem with alternative payment methods, after all, there are PayPal and Venmo and others, and banks don't panic that those are going to take all their users. The problem is that Facebook will get access to financial data of millions or even billions of people, and will share it with others, and then inevitably cause a lot of harm to people. Facebook is becoming too powerful, simple as that.

when you say: governments didn't really care about cryptocurrency

hell this is the most shit i heard in my life and its like to say taxis dont give a shit about uber....

governments behind usd and euro and other shit and all power is around money and its much more deep and you say governments didn't really care about cryptocurrency...

mate sorry for the question in which school you was???

they fear crypto like taxi fear uber

[Bitcoinqubit]

Not all leaders though, but some of them have been vocal about it in the past. Just that, the tweet of President Trump seems to matter.
Take a look at the history of China on how much they have accepted Bitcoin, they have always made their stand very clear and so is that of some of other few countries too. I guess this is because of the Libra and the regulation of BTC who many is hoping to come one day.

you say its because libra .....libra is working with the big boys like paypal and visa and other she is part of the system this coin and backed(scam) by usd....


what you say its complete bullshit.

they hate this because taxi hate uber...nothing more in between.

[gentlemand]

Because of Libra.

Libra landed in their lap and squirted diarrhoea all over them. It's one thing for an organic rise to hit you slowly, quite another for a bunch of corporations with more money than God to roll something out with a supposed launch date.

Real crypto will sneak up on them no matter what.

[sunsilk]

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.

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

That's what I'm thinking too, just like the famous people did before. They have said bad words and bashed bitcoin for their own interest and that made the market plunge as it plunges, they had now a good entry that benefited them well.

But we can also be wrong, it's either that he's really not into it because he's the President and he shouldn't support such things that will go against to his serving purpose.

[spacehopper]

They are trying to do is spreading fake news and show a very very bad situation .All those comes with the profits.So they are waiting till their news works. If they got that,Every bull situation that comes with people that who have.Don't get caught to their news.HODL

[Bitcoinqubit]

Because of Libra.

Libra landed in their lap and squirted diarrhoea all over them. It's one thing for an organic rise to hit you slowly, quite another for a bunch of corporations with more money than God to roll something out with a supposed launch date.

Real crypto will sneak up on them no matter what.

true

[Pepz79]

Now they re afraid of Libra I guess, not btc. Libra will have everything: facebook, instagram, what'up. Imagine how many people will use it. It will be a serious market which won't depend on btc.

[Eildosa]

Don't forget that these statements can be special. These people can say so to achieve some specific goals. So listening to them does not make sense.

[rodel caling]

Donald Trump protect the interest of the country and he protect the dollar currency ofcourse we need to understand that decision from him, therefore all we need to do is pray for trump to seen the importance of bitcoin or crypto currency in general to convince him and encourage how bitcoin can help to the people of states. Because isn't a economic sabotage is give help to the growth the economy increase.

[gentlemand]

https://finance.yahoo.com/news/congressional-leaders-drafted-bill-ban-210905723.html

So there we have it. Someone is proposing the "Keep Big Tech Out of Finance Act" which would prohibit tech monsters from becoming financial institutions.

'It also seeks to prohibit these companies from "establishing, maintaining, or operating a digital asset that is intended to be widely used as a medium of exchange, unit of account, store of value," as defined by the Board of Governors of the Fed.'

[pixie85]

Now they re afraid of Libra I guess, not btc. Libra will have everything: facebook, instagram, what'up. Imagine how many people will use it. It will be a serious market which won't depend on btc.

How many instagram users will spend money through this application if they can? How many facebook users will buy a cryptocurrency endorsed by their social media platform.

It's not going to be as huge as you're saying. Most people who use social media or communicators don't associate them with payments and don't think of shopping there when they have easy access to amazon and ebay.

[crypto1987]

I believe that alarms soared when Facebook announced that the year 2020 will launch its cryptocurrency, is one of the most influential companies in the world, has more than 1,000 million users and immense capital to take a good portion of the market, which has its risks of not taking some measures, then it is normal that the rulers are taking some precautions, what is certain, is that the rise of cryptocurrencies does not stop.

[omone1]

The president just needed to speak out that the US dollars is still very much reliable and strong, he just assured the international community that despite the debt the US government is owing, the US dollars is still strong. We don't know for how long the US dollars will greatly loss its value and relevance. 

[whyrqa-1]

The president just needed to speak out that the US dollars is still very much reliable and strong, he just assured the international community that despite the debt the US government is owing, the US dollars is still strong. We don't know for how long the US dollars will greatly loss its value and relevance. 

I believe that the protection of the dollar is in the interests of many states, because it is thanks to the dollar that their economy holds on.  Perhaps that is why until now no one can legalize cryptocurrency and constantly express unconfirmed fears about this.

[erricducducan26]

Coz they re afraid of btc, that's obvious.

[vladimirhf]

https://finance.yahoo.com/news/congressional-leaders-drafted-bill-ban-210905723.html

So there we have it. Someone is proposing the "Keep Big Tech Out of Finance Act" which would prohibit tech monsters from becoming financial institutions.

'It also seeks to prohibit these companies from "establishing, maintaining, or operating a digital asset that is intended to be widely used as a medium of exchange, unit of account, store of value," as defined by the Board of Governors of the Fed.'

their concerns are not wrong, the facebook cartel coin could break the banks and become a monopoly even worse than the traditional financial system.

[TimeBits]

The governments are getting pressured by the banks, pretty much it brother. They don`t want to be JFK 2.0
Some of the governments doing it as reverse psychology while they collect.

[Darker45]

Because they are really threatened today as never been before. Gone are the days when they could simply laugh it out and even jeer at Bitcoin as a nice experiment or a bubble or out of thin air. Today, they are seeing the reality that Bitcoin is unstoppable. They urgently have to say something that will push the USD up.

And if you add to this the very ambitious and most probably extremely disrupting grand plan of the Libra project, they must be very scared to the bones that their citizens might suddenly stop using their fiat currency one day.