Financial Censorship, just another reason that bitcoin is important

[microsurfer]

Crypto is good way against censorship is general, especially privacy ones. Whats why govs dont like it

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[nicecrypto]

The more the government display their authoritarian attitude the more they help many people to understand and welcome the idea of btc, a digital currency that gives you total control of your funds, do transactions without any hiccups, it is just a matter of time before people start seeing the bigger picture.

[rijaljun]

maybe at this time people prefer bitcoin as investment and storage of their assets because now if for example we invest in a bank system of course the government will ask us taxes because they can see our storage assets but if we invest with bitcoin, the government certainly doesn't know the amount our assets and certainly not subject to tax bills from the government.

That's a bad theory about Bitcoin and that's one of the reason why Bitcoin can't be easily accepted by govt.

He is right, Bitcoin gives us an option to fully control our money. It's basically a freedom for everyone but doesn't always mean to do a bad thing like what you mentioned.

This is one of the things that hooked me on bitcoin, the idea that we should have a currency that is not controlled by anyone, especially our increasingly corrupt governments.
Perhaps if they had less control they'd be less corrupt as well.

As it's a freedom, so everyone could choose an option not to disclose their wealth or transactions. What if it is the corrupt govt who does that? What if they want every of their transaction to be anonymized? Does it make any difference?

[KonstantinosM]

That's a bad theory about Bitcoin and that's one of the reason why Bitcoin can't be easily accepted by govt.

He is right, Bitcoin gives us an option to fully control our money. It's basically a freedom for everyone but doesn't always mean to do a bad thing like what you mentioned.

This is one of the things that hooked me on bitcoin, the idea that we should have a currency that is not controlled by anyone, especially our increasingly corrupt governments.
Perhaps if they had less control they'd be less corrupt as well.

As it's a freedom, so everyone could choose an option not to disclose their wealth or transactions. What if it is the corrupt govt who does that? What if they want every of their transaction to be anonymized? Does it make any difference?

The government can do that now, through the flawed over-classification of information. However if the government used bitcoin it'd be easier to track what they're doing. The problem with centralized power is that there's 7 billion of us and only a handful of power players in every government.

However, if in a far off future government gives up in fiat and goes fully bitcoin, we could have laws where public money gets tracked in the blockchain (tax money and such) until it leaves public control. Hell, if you paid taxes in bitcoin you can track that money for a while. Transactions in bitcoin leave some traces and government wrongdoing is more likely to be discovered in this way.

However if they didn't control our money in the way they do now, I don't think they'd be corrupt enough to matter, everything else being equal.

[SaShiRaJaVu]

Crypto is good way against censorship is general, especially privacy ones. Whats why govs dont like it

The biggest censorship is the trade restrictions imposed by a government to its citizens or another country imposing their restrictions to another country and with crypto anyone can overcome those, the fate of privacy coins is to be seen when regulations are forced upon the exchanges, i doubt any government will allow any exchanges to trade these privacy coins.

[bitcoinposts]

Crypto is beyond everything no censorship and no central authority crypto gives it all to people to hands

[xiboothrezi]

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https://youtu.be/efs3QRr8LWw?t=116
This is one of the things that hooked me on bitcoin, the idea that we should have a currency that is not controlled by anyone, especially our increasingly corrupt governments.
Perhaps if they had less control they'd be less corrupt as well.
Just think of all the people that aren't allowed to use a bank, for one reason or the other, and that if the government decides you should be one of them how valuable the existence of bitcoin will be to you.
It gives us the capability to safely store any amount of wealth we may have and to make a payment to anyone else willing to accept it.

That is why Bitcoin provides many solutions that almost all of its concepts conflict with overly binding governments. With bitcoin we are truly financially independent without any interference from the government that oversees, of course, with a record of all the risks we bear, there is no guarantee. No matter how risky it is, as long as we are committed to learning and maintaining it to the maximum, we will enjoy the solution well. One of the things that stands out the most is its effectiveness, multi-function, imagine with one thing you have the opportunity to invest, trade, and conduct various other economic transactions with just one product: cryptocurrency.

[th3nolo]

As it's a freedom, so everyone could choose an option not to disclose their wealth or transactions. What if it is the corrupt govt who does that? What if they want every of their transaction to be anonymized? Does it make any difference?

That's what the corrupt officials of Venezuela do, or at least some of them.

As a decentralized system, we have to accept that others use it in different ways, even those we don't like.

That's what bitcoin's all about, isn't it?

[Eclipse26]

Indeed. Greediness is always a part of human. And the more access the government has with our money, the more they will get tempt corrupting our money. They should really give us a freedom at some point with our own funds and assets. And that freedom is through bitcoin. A decentralized currency where we're responsible for our own and no government can control it.