Why are big leaders now opposing cryptocurrencies suddenly?

[lighpulsar07]

Well it kinda obvious why the government leaders opposing cryptocurrencies is they don't like decentralization they only want a system that they can make money, taxed and control or regulate it. that's why the governments around the world is trying to set rules and regulations in investing cryptocurrencies and exchanges the this the part when it gets dangerous when an exchange got hacked it's not only bitcoins and other cryptocurrencies will stolen also all of the personal information and documents of their clients will get compromised too.

We could barely say that the government would loose its control over the financial system and its monetary revenues if they allowed the use of cryptocurrencies, they would not be able to collect taxes as well.

I don't think they will lose control their financial system if they allowed cryptocurrencies that's why governments impose rules and regulations on using cryptocurrencies and also, most people think that cryptocurrency is an investment rather than a currency though

[btctaipei]

It's about control, baby~

BTCitcoin hodlers need to know that the next financial crisis the symptoms will be different from those seen in 2008, dot-bomb bubble and even the great depression.  

to this end, they BTCHodlers shall realize the cause of this financial woes was indeed fundamentally different, by observing the following macro and micro-economic indicators:

1) Liquidity of personal asset: Bulk of the USA and EU sheeples are certified, pre-fleeced so that their savings and assets can not move during bank holidays.  A new one world currency is created when and if flagged currency (such as rmb, yen, dollar, etc) inflate out of control - as this will be a global currency reset.

2) The use of state-sponsored bond purchase and other open market operations is a world wide phenomena. (You trained Chinese by shows the world JPMC / GS buy back gumbent bond/assets, now commies are doing the same with ICBC/Huawei and others)

3) In Large metropolitan area, during economic crisis the convertibility of asset will be highly restrictive and computerized to make sure no one beat the system buy exchange asset directly with financial instruments that were blessed or certified by "mark of the beast".  This could be one world currency, dollar, and other beast coin that have chips and perfect tracking / surveillance capability (as well as capacity).  This may even require the track or chip of physical good and every day items using RFID and other technologies to avoid other medium exchanges from being used.

The banning of bitcoin is impossible.  What deep state and the NWO have done is to create various de-facto digital payment system that make bitcoin feels outdated and obsolete.  Bitcoin will obvious fight back with lightening channels and other off-chain solutions developed to allow easy adoption and every day use.  Flagged currency as it is are backed by man with guns and Fed can always hire the best analysts to deceive and fund on-going propaganda campaign with presstatutes and sheeps would continue to wallow in lameness.

[barbara44]

They fights for their fiat currency and well know that the governments are against on us and also central banks are against to cryptocurrency. Let's hope they will changed there minds in the next year when bitcoin started to pump.

They are just indulging in a fight that they cannot win, even if US ban cryptocurrency today, that will still not stop it from moving forward and to get the world leaders to come together to ban it will be extremely impossible because some of those world’s leader too are already benefiting from the use of cryptocurrency in their country, sop stopping it is like removing a working feature from their system.

What I see in future is that the bitcoin will be accepted, no doubt about that, they will only introduce some sort of regulations that may not favor people, just as the US government has demand for Binance to separate its citizen to another platform which they are ready to do, but not in accordance with the will of the users, so many people may not like that idea.

[iMark]

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.

That is the main reason for the government and the country's leaders to against bitcoin. that bitcoin is very threatening to the country's economy in terms of the state budget. the country will lose its biggest income such as taxes, lose financial control because there will be a lot of mass migration to bitcoin, it is the end of government finance.

[tiedcoin]

Leaders like Trump think they can control the flow and volatility of Crypto currencies just be sending out one tweet. In a way they are scared about how this new form of digital money is giving power back into the hands of the general public.
The mere existence of crypto currencies is a threat to governments and banks because they have a feeling they will lose control over the population and how and where they spend their money. Banks regulate our funds according to their needs and with the emergence of crypto currencies, controlling the spending power of the public has become an issue for banks.

[Anonylz]

Where they in support of cryptocurrencies before? i mean was there ever a time when the big leaders have openly display their support to crypto other than their negative comments, they are not in control so majority of big leaders are not in support, all they ever done is make crypto look bad but to their surprise many still believe and support crypto, i really am not surprise to see them opposing because it suit them better.

[deisik]

Leaders like Trump think they can control the flow and volatility of Crypto currencies just be sending out one tweet. In a way they are scared about how this new form of digital money is giving power back into the hands of the general public.
The mere existence of crypto currencies is a threat to governments and banks because they have a feeling they will lose control over the population and how and where they spend their money. Banks regulate our funds according to their needs and with the emergence of crypto currencies, controlling the spending power of the public has become an issue for banks

Well, there are different options (as well as opinions)

And Trump is known to keep his open leaving him enough room and space to maneuver. You couldn't actually expect him to be any different given his business background. He is totally pragmatic, through and through, even if that requires him not to look like he really is

What I mean to say is that he doesn't burn bridges behind him, so we shouldn't really expect him or someone like him (which is the majority of the power elites anyway) to outright ban crypto. More likely, they will try to weaponize it and use it for their own purposes and agendas (whatever those might be)

[nicecrypto]

Big leaders are opposing crypto because they suddenly realize the fire to self control of funds has started burning gradually, even though it may take some time but it has already began and that's is what they try to avoid,
in no time people will have full control of their funds without the interference of banks or government and this will be happening through cryptocurrency, and that is a big threat.

[SquallLeonhart]

Leaders like Trump think they can control the flow and volatility of Crypto currencies just be sending out one tweet. In a way they are scared about how this new form of digital money is giving power back into the hands of the general public.
The mere existence of crypto currencies is a threat to governments and banks because they have a feeling they will lose control over the population and how and where they spend their money. Banks regulate our funds according to their needs and with the emergence of crypto currencies, controlling the spending power of the public has become an issue for banks.

He is simply just trying to protect that their USD that is already getting week, and bitcoin should even be the least of his problem now, because generally, it is even strengthening the USD as against what he thinks because when it comes to pairing of currencies for trading, I think people even pair more of USD which means they get more increased fiat in USD which is still in a way protecting the value of the said currency.

There are more things at hand that trump needs to face and it is not the cryptocurrency that is the issue now, but the debt that he needs to settle which is getting too much and some trade wars that he needs to settle with china. That is where his focus should all be in now and not cryptocurrency that is doing nothing but to make their economy better.

[Lalafell]

Big leaders are opposing cryptocurrency because they suddenly realize the power to self control of funds has Increasing gradually, even though it may take some time but it has already began and that's is what trying leaders trying to avoid, the liquidity of personal asset of the cryptocerrency, bulk of the USA and EU sheeples are certified, pre-fleeced so that their savings and assets can not move during bank holidays.  A new one world currency is created when and if flagged currency inflate out of control - as this will be a global currency reset.

[dr_chen]

If a digital economic revolution happens, governments will suffer the most. No president or any government wants to be remembered badly. Especially if you're an egotistical guy like Trump, and you're also head of the USA.

[skarais]

An important point that I can understand here is that the Government recognizes that the technology behind cryptocurrency can make financial market infrastructure such as payment systems more efficient. But the Government is only concerned about the risks that exist in cryptocurrency such as cases of money laundering, drug transactions, to other crimes.
In my country, cryptocurrency can only be used as an investment and trading instrument, this is much better because they don't prohibit it. Because so far the government has only banned use as a means of payment and will have problems with the law if someone violates it.

[bitbunnny]

I don't know what other leaders beside Trump you have in mind but I don't see that as a sudden change. Trump has a business background and as many other businessnem.he's not a big fun of cryptocurrencies but that is not the surprise.
I don't think that governments around the world are against cryptocurrencies, they are just very cautious. You can't expect they will just let something so volatile, unregulated and unsecure into financial system. They are aware they have to embrace cryptocurrencies but they want to minimise the risk and prevent possible consequences.

[ILuckyGuyI]

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"

We can't say there are many leaders opposing cryptocurrencies in my opinion. I see Trump is trying to lessen the interest in Bitcoin and I am sure that he will try to ban Bitcoin too. As you said, he is afraid of Bitcoin and he wants people to use the local currency.

[atjiat]

It seems to me that, first of all, governments are worried that attackers should not use cryptocurrency to the detriment of the state and people.  First of all, we are talking about tax evasion.  After all, this is done by fairly large businessmen who hide unaccounted for millions of dollars in cryptocurrency.  In addition, perhaps it is a violation of certain laws and regulations with the help of cryptocurrency, for example, as soon as possible, Venezuela will use cryptocurrency to circumvent international sanctions.

[deisik]

It seems to me that, first of all, governments are worried that attackers should not use cryptocurrency to the detriment of the state and people.  First of all, we are talking about tax evasion.  After all, this is done by fairly large businessmen who hide unaccounted for millions of dollars in cryptocurrency

But how likely is that, really?

If Bitcoin was as stable as gold and remained as anonymous as it is (which is not given), it would definitely make sense. But since Bitcoin is as unstable as a chair with three legs, it may turn out to be too expensive a tax-evasion device. In other words, you may end up ever so much better off overall by paying these fucking taxes than trying to evade them with Bitcoin. But that doesn't mean cryptocurrencies don't get used for other criminal activities, of course (though the American dollar is the undisputed champion in this department)

[Upgate]

Donal trump is not the most loves leader in the world right now. His hate for cryptocurrency is unexplainable. So I would not use his point as a reason to panic for now.
Leaders around the world might not openly admit it some of them a in a way into cryptocurrency

[Pumared]

It makes no sense for a leader of one country to be in favor of another currency, because that means that he is against his own currency. This trump talk is more about trying to knock down bitcoin and trying to prevail your currency.

[deisik]

It makes no sense for a leader of one country to be in favor of another currency, because that means that he is against his own currency. This trump talk is more about trying to knock down bitcoin and trying to prevail your currency

The relationship between Donald and Bitcoin may be more complex than it first appears

As a relentless and quite ruthless capitalist in the worst, Marxian sense of the word, Trump can easily say one thing, think another, and then do a completely different one. What it means is that he may love and hate Bitcoin at the same time. I know it is kind of schizophrenic but who said he is not one deep inside?

More specifically, Trump may in fact hate Bitcoin after all, but he may hate it less than any other regular currency out there (other than the American dollar, of course). In this manner, he may unwillingly and unconsciously come to love Bitcoin as it is not a real threat to the dollar but can be one in respect to other fiat currencies

[Herbet Fry]

What's in trumps head is thin air. like most of his ideas just inflated air. He is a racist piece of shit and it amazes and sickens me that people voted for him. He hates so many things and has little to no love in his heart.
Very uptight little orange. Remember the great orange has the USD the best currency of all.

I am glad he fears bitcoin. Good fear it. Bitcoin is power. USA is the most ridiculous country in the world nd whenever I signup to websites involving crypto I often see that due to local laws the USA is not allowed to participate. I still would. I don't care. No one gives anyone th right to tell me where I can trade work and what sites I can use. So much for the land of the free. More like the land of slaves and manipulation.

We should just build a wall around trump  I think.