Now it's an all out war : Government Vs cryptocurrencies

[BrewMaster]

The government has reason to be concerned about crypto, currently crypto has not shown any practical application value except as a speculative method. The government has the right to worry that crypto will turn into a tool to carry out illegal activities. I think only when the government finds a way to control crypto, then will the government support and develop crypto.

i'll believe that the day the government started being worried about the banks and all the illegal activities that they are constantly doing! how many times do we have to see it in the news about their drug money, their money laundering and all the other illegal things they are doing before someone does something about it?

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[unusualfacts30]

I think they're at war with corporations and really fighting for who will run the system in the coming future. As far as bitcoin, it's not new they have been against it every now and then but you would notice that fud starts dropping as soon as bitcoin price starts moving up. They are no where to be seen once value is stable.

[EdenHazard]

There are a lot of thing must be considered when we read an article on the media social about cryptocurrencies. My country has been accepting bitcoin to be use as investment place or trading place that previously they decided to ban all of form about cryptocurrencies but now it is not like that, they tried to regulate it and has been feeling the advantage how the advantages of receiving cryptocurrencies.

Although we still find a few countries that banned it but it won't take a long time to change their thinking to change their decision to accept cryptocurrencies. I'll be fine if cryptocurrencies are not used as payment system because there is a lot of function that can be use by most people to keep use cryptocurrencies in their lives. So, the government will not have a concern because everyone will use the means of payment with money fiat.

Cryptocurrencies can be use as an alternative if they find a hard thing when doing something, such as to send money between countries, investment place or even buy something outside his country. I think some of these methods will be difficult if only using money fiat and cryptocurrencies are the solution.

[Money_catcher]

Now there is a statement how they are proposing companies to stay away from the digital currencies .

wrong.
it is proposing to prevent them from creating their own cryptocurrency like what Facebook is trying to do and practically start printing money out of thin air.

In India they are proposing a draft to ban all cryptocurrencies
Even dealing with them will land you in jail for 10 years and even holding unlawful.

wrong and this is not new, it has been going on for a couple of years now and the recent bill had nothing to do with jailing people for using bitcoin, it was misinterpreted by the shitty news sites.

We have already seen how China banned Bitcoins so did many other countries...

wrong. China has never banned bitcoin!

Not bad, put everything in its place

[Nadziratel]

There is no war between Governments & Cryptocurrencies. Don't take serious Trump. I am sure he didn't invest Bitcoin yet, and he is trying to dump price for buying BTC.
I don't think he is serious people.

[Reatim]

Lol government will never be against cryptocurrency in reality,all they are doing is publicity because the truth is all of them wanna have some piece of cake from the money inside crypto and that’s the real intentions of each government.pretending to be against but inside are the eagerness to have some part from the billions of dollars here

[Bitcoinqubit]

Hey

We all know how President Trump Tweeted about the Libra and Bitcoins , how they aren't Money and all .

https://www.coindesk.com/us-president-donald-trump-says-hes-not-a-fan-of-bitcoin

Now there is a statement how they are proposing companies to stay away from the digital currencies .

https://www.reuters.com/article/us-usa-cryptocurrency-bill-idUSKCN1U90NL

In India they are proposing a draft to ban all cryptocurrencies
Even dealing with them will land you in jail for 10 years and even holding unlawful.
https://gadgets.ndtv.com/internet/news/bitcoin-ban-india-cryptocurrency-law-10-year-jail-2049939

We have already seen how China banned Bitcoins so did many other countries...

I think it's an all out war right now 
Government Vs Bitcoins.

Except for the countries who support Bitcoins.

its some kind of war and its only the beginning ...

[Artemis3]

Hey

We all know how President Trump Tweeted about the Libra and Bitcoins , how they aren't Money and all .

https://www.coindesk.com/us-president-donald-trump-says-hes-not-a-fan-of-bitcoin

Now there is a statement how they are proposing companies to stay away from the digital currencies .

https://www.reuters.com/article/us-usa-cryptocurrency-bill-idUSKCN1U90NL

In India they are proposing a draft to ban all cryptocurrencies
Even dealing with them will land you in jail for 10 years and even holding unlawful.
https://gadgets.ndtv.com/internet/news/bitcoin-ban-india-cryptocurrency-law-10-year-jail-2049939

We have already seen how China banned Bitcoins so did many other countries...

I think it's an all out war right now  
Government Vs Bitcoins.

Except for the countries who support Bitcoins.

See it this way: In the past, religion and state were one and the same. Proposing their separation would be akin to an act of heresy... And everyone in power would object to it, especially the monarchs who were blessed by said religion.

Think of it, what is the current religion of many? Money. Now we are proposing separating money from state, in a way, its a recreation of the past, and yes, they did oppose it...

Still the number of countries in opposition is surprisingly minimal after a whole decade. We should always take a look at wikipedia:

Legality of bitcoin by country or territory

Illegal in: Algeria, Egypt, Morocco; Bolivia, Colombia, Ecuador; Saudi Arabia, Iran; Bangladesh, Nepal, Pakistan; China, Taiwan; Cambodia, Indonesia.

Just 15 out of nearly 200 countries, 10 years after its inception. A system of payment made from the ground up, built to withstand governments and institutions, border-less, secure, intangible, yet verifiable unique. Its just math, essentially. Geek triumph?

Countries that ban it are fools, they are simply telling wealth to go elsewhere. Its like they are too rich or something, very ironic given most in the list are rather poor, but it does tell you one of the reasons they still are.

Because Libra is centralized, its easy to destroy. Bitcoin? You have no rich man, or company to go after, you can never catch its creator, and even if you did, you could never stop his/her creation, not even him/her can anymore. The genie is out of the bottle, there is no turning back, you can't undo history.

Embrace it and learn how to profit from it, or put your head inside a hole in the ground pretending it doesn't exist while the rest of your neighbors enjoy the benefits. Your call...

[muratsink]

more apesifik is the war between the government and the crypto world.  the government is worried that fiat and national currencies will lose their role.  and the reality of fiat currencies has a narrow and limited role.  fiat volatility is very low and cannot create profits.  I think, the crypto world will be the winner in the future.

[eaLiTy]

I think it's an all out war right now 
Government Vs Bitcoins.

Except for the countries who support Bitcoins.

We cannot win a war against the government as they have the power and capability and money to shut the entire market if they wanted to, so it is better to have a regulation with the help of government rather than fighting against the government, they could shut the entire mining industry if they wanted to and if that happens we all know what happens to the fate of bitcoin, if there is enough pressure from top countries any country that support bitcoin could change that, we have seen that with Liberty Reserve and other similar financial solutions.

[BitHodler]

Lol government will never be against cryptocurrency in reality,all they are doing is publicity because the truth is all of them wanna have some piece of cake from the money inside crypto and that’s the real intentions of each government.pretending to be against but inside are the eagerness to have some part from the billions of dollars here

They have every reason to fear crypto currencies, so it's not them chasing after publicity by speaking out negatively about everything related to crypto. Not sure where you got that from, but that's false.

If they did it for publicity sake, it would actually make crypto get more exposure than ever before. Governments are genuinely afraid of how much power they could lose would crypto gain mainstream adoption one day.

The central bank of Poland paid social media influencers to create content highlighting how they lost a lot of money through crypto and how risky it actually is, which just points out how afraid they are.

[loopes]

Lol government will never be against cryptocurrency in reality,all they are doing is publicity because the truth is all of them wanna have some piece of cake from the money inside crypto and that’s the real intentions of each government.pretending to be against but inside are the eagerness to have some part from the billions of dollars here

They have every reason to fear crypto currencies, so it's not them chasing after publicity by speaking out negatively about everything related to crypto. Not sure where you got that from, but that's false.

If they did it for publicity sake, it would actually make crypto get more exposure than ever before. Governments are genuinely afraid of how much power they could lose would crypto gain mainstream adoption one day.

The central bank of Poland paid social media influencers to create content highlighting how they lost a lot of money through crypto and how risky it actually is, which just points out how afraid they are.

Not every government in each country do the things that 'against' bitcoin like Poland's government does. In my country, the Government only warn to all people by giving them caution that investing in cryptocurrency is rsiky enough because of its bubble characterism.

[ramsdaj28]

Hey

We all know how President Trump Tweeted about the Libra and Bitcoins , how they aren't Money and all .

https://www.coindesk.com/us-president-donald-trump-says-hes-not-a-fan-of-bitcoin

Now there is a statement how they are proposing companies to stay away from the digital currencies .

https://www.reuters.com/article/us-usa-cryptocurrency-bill-idUSKCN1U90NL

In India they are proposing a draft to ban all cryptocurrencies
Even dealing with them will land you in jail for 10 years and even holding unlawful.
https://gadgets.ndtv.com/internet/news/bitcoin-ban-india-cryptocurrency-law-10-year-jail-2049939

We have already seen how China banned Bitcoins so did many other countries...

I think it's an all out war right now 
Government Vs Bitcoins.

Except for the countries who support Bitcoins.

I don't think it's an all out war between government and cryptocurrencies at all. There's a lot of things that will hinder the government from stopping the usage of cryptocurrencies.

1. Cryptocurrencies are electronic assets. They are intangible assets.
2. Cryptocurrencies are decentralized. The government will have a hard time tracing who are holding such cryptos.
3. Cryptocurrencies are already widely used. There are already companies that include cryptocurrencies in their businesses. Even famous people supports some cryptocurrencies.

Also, how would BANNING works in the world of cryptocurrencies? I think, that's harder that we thought it would be.

The only thing the government can do for now is to create bodies or regulatory that will regulate the use of cryptocurrencies. The biggest reason that I can see about these chaos of govenrments against the cryptos is TAXATION. Banks lost a lot of money (just my opinion) because more people prefer investing their money in cryptos than in banks. Who even wants to invest their money for a year, and just get an interest of 5%? LOL

[btc_angela]

The war has started many years ago in my opinion. How many banks do we have that has a hard line stance? So for me this is nothing new, the war has been enraging for many years now. It we took Trump's tweet as negativity then this is just another flame on the ongoing Gov't vs Crypto battle.

[iMark]

Trump seems to really want the dollar to be king. all those who are confronted with their country are always invited to war, they have many trade wars with many countries, and many parties also adhere to what the US government does. but crypto is different from others, crypto has been opposed since its launch, but crypto has survived and even always developing

[omone1]

I think the government has a beef with Facebook Libra coin and not bitcoin itself. Maybe they don't trust Libra coin enough to know how it will turn out in the future, because of Facebook repeated breach of privacy policies and now they want to take control over finance, it's going to be difficult to trust Libra team.

[Jating]

All should be be expecting this kind of hardline stance against crypto, after all they believed that it's going to have a big impact on them specially the banking and financial systems.

So I won't be worrying about it, crypto is decentralised and I doubt that it can be stopped by just a simply tweet or even if US lawmakers are trying to look at it by scrutinising every detail like Libra coin. Government is just protecting itself, but we all know that crypto is very positive.

[roosbit]

-snip-

I think it's an all out war right now  
Government Vs Bitcoins.

Except for the countries who support Bitcoins.

Sounds more like "Government Vs cryptocurrencies" and not bitcoin alone.

I think at this point all it takes to call off this attack is to have some type of regulation for cryptocurrencies, I know it's a decentralized ecosystem which has proven itself to work but you know there is that group of people standing on the sidelines(the law abiding type that goes by the book, possibly institutional investors) waiting to join in but these indirect threats won't allow them.

And the only way these people are playing it smart is by staying away, crypto doesn't work or need this....more people more valuable it gets.

And AFAIK since most countries are governed in the lines of democracy, that makes the government us the people so we can fine tune these regulations.

[Red-Apple]

what is going on at the moment is a war against different companies to prevent them from becoming banks without actually becoming banks. if you look at the Trump tweet that started all this you can see that he is pointing out the problem with Facebook and the fact that it is becoming a bank without abiding by banking regulations and they are printing money which is not allowed by law.
i wouldn't call this a "war against cryptocurrencies". it is a war against companies who are trying to abuse this hype and make millions.

[kaya11]

I think I could call it an all out war against Bitcoin if "all" forms of government in the whole world are against it including the countries that are for now it's allies. In my belief this has somewhat happened already, India making a bill to counter crypto, remember the Chinese government made statements and actions against it, the same thing will happen and it will backfire, leading to Bitcoin's another massive dump then comes with the Bull.