Do Not Blame Bitcoin, No Government Want To Make Its Citizen Millionaire

[DashingAgent]

Do Not Blame Bitcoin, No Government Want To Make Its Citizen Millionaire

Just listened that UK new pm has increased the wages of UK employees a few cents per hour, Laughed. When the wages will be small, how you may claim that bitcoin may hit $100K or even a million? People only invest a portion of their money in Crypto, And the government pays a very small amount around $11/per hour. Can this small amount make bitcoin to hit over 100K or a million USD?

If these governments want to make their people rich, they could increase their wages to upto 10 times, around $100/per hour. When wages will be high, more amount of money could be invested in Crypto.

I hate this, even programmers are forced to work in less budget. When dollars and other currencies are free to be printed and their value will not be reduced even if they are printed a lot more, then which ant is enforcing and stopping the governments to force their employees to work in a low budget?

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[avatar_kiyoshi]

This thread should be move to Economy section.

It's looks like you blame your wages. Try to find a jobs that have a higher wages, try blockchain industry or do a business.
Bitcoin price is depends on the demands, with current price it's need mass adoption to make it hit $100k or more.

Well, at the first time we can't force the government to recognize Bitcoin as payment, they have own laws which actually made for their profit.

[ashmodeus]

So , their economy will collapse because too much money out and of course , that its not a reason for increasing bitcoin price.
A simple reason, high demand make price go high.
Just it. About no one goverment want to make their citizen become millionaire, well , i have no idea.

[wajik-tempe]

So , their economy will collapse because too much money out and of course , that its not a reason for increasing bitcoin price.
A simple reason, high demand make price go high.
Just it. About no one goverment want to make their citizen become millionaire, well , i have no idea.

Maybe it's more like the government are afraid of their citizen could hide their money into cryptocurrency and they have the potential for hiding text, and also the government could not able to control people's wealth and it will be a threat for them

[rijaljun]

Maybe it's more like the government are afraid of their citizen could hide their money into cryptocurrency and they have the potential for hiding text, and also the government could not able to control people's wealth and it will be a threat for them

I have the same opinion, Bitcoin aren't supposed to make us rich even though the fundamental side of Bitcoin is promising but that's not the purpose. The main purpose is to free anyone from anything, to be as free as they can control everything they own by themselves.

[avikz]

Do Not Blame Bitcoin, No Government Want To Make Its Citizen Millionaire

Just listened that UK new pm has increased the wages of UK employees a few cents per hour, Laughed. When the wages will be small, how you may claim that bitcoin may hit $100K or even a million? People only invest a portion of their money in Crypto, And the government pays a very small amount around $11/per hour. Can this small amount make bitcoin to hit over 100K or a million USD?

If these governments want to make their people rich, they could increase their wages to upto 10 times, around $100/per hour. When wages will be high, more amount of money could be invested in Crypto.

Lol! UK is positioned at number 26th in the list of per capita income. So you have chosen a wrong country as a benchmark! There are hell lot of countries which earns 1/10 of that hourly income! UK is still in a lot better state than many many other countries of the world! $11 hourly wage is indeed a great amount of money! People can still invest a lot of money into bitcoin if they are willing to!

I hate this, even programmers are forced to work in less budget. When dollars and other currencies are free to be printed and their value will not be reduced even if they are printed a lot more, then which ant is enforcing and stopping the governments to force their employees to work in a low budget?

ROFL!! Who said countries are free to print currencies and its value will not be effected? No countries are allowed to print free money! If they do, they will end up in an economical situation like Venezuela or Zimbabwe! The situation is called Hyperinflation. Have you ever seen a 10 billion dollar note? If not, see the below link,

https://en.m.wikipedia.org/wiki/Hyperinflation_in_Zimbabwe

[turkandjaydee]

Why not? The more money citizens have, the more tax they will pay. Especially if citizens are very successful to get money from other countries (like international business).

Maybe it's more like the government are afraid of their citizen could hide their money into cryptocurrency

This is very unlikely to happen anymore. We all see KYC is already everywhere, in almost every exchange.
Unless if you never trade your coins for fiat and always use them directly.

[FLoving]

Do Not Blame Bitcoin, No Government Want To Make Its Citizen Millionaire

Just listened that UK new pm has increased the wages of UK employees a few cents per hour, Laughed. When the wages will be small, how you may claim that bitcoin may hit $100K or even a million? People only invest a portion of their money in Crypto, And the government pays a very small amount around $11/per hour. Can this small amount make bitcoin to hit over 100K or a million USD?

If these governments want to make their people rich, they could increase their wages to upto 10 times, around $100/per hour. When wages will be high, more amount of money could be invested in Crypto.

I hate this, even programmers are forced to work in less budget. When dollars and other currencies are free to be printed and their value will not be reduced even if they are printed a lot more, then which ant is enforcing and stopping the governments to force their employees to work in a low budget?

Up to some extent your point is also correct but with that I will also say that if these people will also start some online jobs then they will earn some extra money and they can invest them in bitcoin. They also have a lot of opportunities to earn in bitcoin and if they will work for the crypto projects then this field will also get strength and a time will come that they will earn much more higher than what they earn in fiat and then they can start full time crypto jobs and businesses.

[Kevondo]

Do Not Blame Bitcoin, No Government Want To Make Its Citizen Millionaire

Just listened that UK new pm has increased the wages of UK employees a few cents per hour, Laughed. When the wages will be small, how you may claim that bitcoin may hit $100K or even a million? People only invest a portion of their money in Crypto, And the government pays a very small amount around $11/per hour. Can this small amount make bitcoin to hit over 100K or a million USD?

If these governments want to make their people rich, they could increase their wages to upto 10 times, around $100/per hour. When wages will be high, more amount of money could be invested in Crypto.

I hate this, even programmers are forced to work in less budget. When dollars and other currencies are free to be printed and their value will not be reduced even if they are printed a lot more, then which ant is enforcing and stopping the governments to force their employees to work in a low budget?

As we know that Bitcoin is not under the control of Government or central banks, governments pay very few wages per hour to their employees so that they cannot invest much in Crypto. It is indirect way of not making people rich, because if people will invest much in Crypto, Bitcoin will hit higher and they would become millionaire.

[1Referee]

Why not? The more money citizens have, the more tax they will pay. Especially if citizens are very successful to get money from other countries (like international business).

The more money citizens have, the more financial freedom they have, and the more incentive they have to actually start circumventing taxation legally where possible. The rich isn't rich because they are getting their asses taxed off, but because they know how to legally game the system governments set up.

In the end, people shouldn't just blame the government for everything. If you really want something to happen, you can do it. If you by default think that you won't get anywhere because the government will make life difficulty for you, you lost right there. You can only blame yourself for thinking like that and the fact that you aren't getting anywhere.

Governments are not your friend, but they don't have to be in order to be successful. Most people however make life so difficult for themselves that they stay poor for ever.

[milewilda]

Do Not Blame Bitcoin, No Government Want To Make Its Citizen Millionaire

Just listened that UK new pm has increased the wages of UK employees a few cents per hour, Laughed. When the wages will be small, how you may claim that bitcoin may hit $100K or even a million? People only invest a portion of their money in Crypto, And the government pays a very small amount around $11/per hour. Can this small amount make bitcoin to hit over 100K or a million USD?

If these governments want to make their people rich, they could increase their wages to upto 10 times, around $100/per hour. When wages will be high, more amount of money could be invested in Crypto.

I hate this, even programmers are forced to work in less budget. When dollars and other currencies are free to be printed and their value will not be reduced even if they are printed a lot more, then which ant is enforcing and stopping the governments to force their employees to work in a low budget?

As we know that Bitcoin is not under the control of Government or central banks, governments pay very few wages per hour to their employees so that they cannot invest much in Crypto. It is indirect way of not making people rich, because if people will invest much in Crypto, Bitcoin will hit higher and they would become millionaire.

I don't agree into these sentiments yet come to think that wage rates have been there before bitcoin exist or crypto market comes out which basically means that theres no connection in regards to this situation if a certain individual do lived on a low paying salary country or not.
Bitcoin/entire crypto market does depend on demand even how small your salary is and If you are eager to invest then it doesn't need up some govt intervention.This had been always part of the reality where there are rich and average earners where it can give out capabilities in terms of investment opportunities and theres nothing equal when it comes to that matter.

[tenakha]

I hate this, even programmers are forced to work in less budget. When dollars and other currencies are free to be printed and their value will not be reduced even if they are printed a lot more, then which ant is enforcing and stopping the governments to force their employees to work in a low budget?

Printing as much money as they want without loss of value? Then why do we all work? Let them print the money, we are going to the world tour. It is like ruining the world economy based on years of experience. What do you think makes the existing assets valuable in the world? Being limited, right? e.g If the whole world were made of gold, not of ground, would gold be so valuable?

[Wexnident]

Bitcoin was, currently anw, not meant for commercial use and as such only those with the financial capability could use them. Most of its usage is done because of the anonymity it provided to its users. Theres also the addition of it being volatile, which makes the implementation kind of useless, at that moment that is. Once price regulates after the supply has stopped increasing, BTC could then be used by all. At least, at some level anyway.

Dollars and currencies may be free to be printed, but that doesn't mean it should be. It isn't just simply print and its done. There are other issues to be concerned with like the current inflation of the market. Limitlessly printing money without concern is destroying the market inside, and if they did what you àctually wanted to do, the US dollar wouldn't have made it this far tbh.

[NathanJB]

Do Not Blame Bitcoin, No Government Want To Make Its Citizen Millionaire

Just listened that UK new pm has increased the wages of UK employees a few cents per hour, Laughed. When the wages will be small, how you may claim that bitcoin may hit $100K or even a million? People only invest a portion of their money in Crypto, And the government pays a very small amount around $11/per hour. Can this small amount make bitcoin to hit over 100K or a million USD?

If these governments want to make their people rich, they could increase their wages to upto 10 times, around $100/per hour. When wages will be high, more amount of money could be invested in Crypto.

I hate this, even programmers are forced to work in less budget. When dollars and other currencies are free to be printed and their value will not be reduced even if they are printed a lot more, then which ant is enforcing and stopping the governments to force their employees to work in a low budget?

I can feel you and I share your frustration. But the government does not intentionally limit the wage so that we cannot invest on crypto with big amounts just like the rich are doing.

To be fair, Bitcoin was worth 0.0005 cents or even much lower when it first came out. Where were the people at that time, especially those who have heard of it? Everybody can afford it. But only too few bought or mined or got it from faucets and other sources. Right now, it is hard pointing fingers. We also have had our failures.

[merchantofzeny]

Do Not Blame Bitcoin, No Government Want To Make Its Citizen Millionaire

Just listened that UK new pm has increased the wages of UK employees a few cents per hour, Laughed. When the wages will be small, how you may claim that bitcoin may hit $100K or even a million? People only invest a portion of their money in Crypto, And the government pays a very small amount around $11/per hour. Can this small amount make bitcoin to hit over 100K or a million USD?

Well it can hit $100k if it was manipulated enough, it's just that it won't stay at that price as people eventually move out their money.

I can feel you and I share your frustration. But the government does not intentionally limit the wage so that we cannot invest on crypto with big amounts just like the rich are doing.

To be fair, Bitcoin was worth 0.0005 cents or even much lower when it first came out. Where were the people at that time, especially those who have heard of it? Everybody can afford it. But only too few bought or mined or got it from faucets and other sources. Right now, it is hard pointing fingers. We also have had our failures.

Agreed. It's not like the government is eyeing every investment we are trying to get into. Heck, they probably want us to be a bit richer so they don't need to bribe us with money they can keep for themselves.

[Ucy]

You think only fiat currencies coming into crypto increase the price of Bitcoin? I think a well built decentralized community could also contribute greatly to price increase. If things are built in such a way that people depend less on typical governments, why would anyone then worry about wage increase from government? I think it would be better to be less dependent on governments for long-term/sustained benefits. I strongly believe decentralization/crypto can help in this regard.

[hatshepsut93]

Your assumption that Bitcoin's growth is driven by minimum-wage workers is simply wrong, the main players are middle class and wealthy individuals and organizations like investment funds. Also how do you expect a government to raise minimum wage by x10? This can only be achieved with Zimbabwe-levels of inflation, and it will just ruin economy. Plus you are forgetting that Bitcoin is a globally traded asset, so it's not enough for one country to implement something, all of them should do it to affect Bitcoin.

[abeecrypto]

Let me get this straight. What you are saying is that the ability of Bitcoin to hit 100k is hindered by the wages paid to people.  I don't agree. What makes you think when it is increased to the $100 you proposed, there will be more flow into the market?  It wouldn't work much.  There are many people who have much money to spare but wouldn't put into crypto. Some only spare very little into crypto.
The government can't  just raise the wages by 100. It's going to tell on them and their economy.  All those things are strategised to prevent some sort of economic crisis.

[stompix]

If these governments want to make their people rich, they could increase their wages to upto 10 times, around $100/per hour.

And then you're going to have to tip your pizza boy 200$ and the delivery cost will be another 100$.
How about they raise the wage to 34 centillion per hour?

After all, it's not the government who pays those wages, it's the owners of private businesses that do, the government is just redistributing someone else's money.

I hate this, even programmers are forced to work in less budget. When dollars and other currencies are free to be printed and their value will not be reduced even if they are printed a lot more, then which ant is enforcing and stopping the governments to force their employees to work in a low budget?

Yeah, the zimbabwe dollar was free to print...the bolivar also...till it was more expensive to print a banknote than the value of that banknote.
This is why I've always said that economy should be a mandatory study from middle school for everybody.

[DashingAgent]

You and many people are talking about Zimbabwe and Venzuela, the country who does not officially handle or has United State Dollar or British Pound, Euro, I am just talking about currencies those are being printed freely Like USD, Euro, Pound. Do you know that there are more USD in the World comparing to ZMD? But USD is stable, did anyone face or reported any hyperinflation yet? The term hyperinflation is just created to manipulate the economy of a region, US does not want that any country can do business without USD. Thats why they manipulate the currency by this so called term otherwise when you have more money, you could be more free to spend, enjoy your life or pay taxes. So where is the problem when a govt get a punishment with this so called term 'hyperinflation'? Actually there is no hyperinflation, US just manipulate the prices by applying this term on debit. Because US only accept USD, it does not accept any other country's currency, therefor It divide the total country wealth with the remaining asset in USD to calculate the value of that country's currency, it is where the hyperinflation come to existent.

Your assumption that Bitcoin's growth is driven by minimum-wage workers is simply wrong, the main players are middle class and wealthy individuals and organizations like investment funds. Also how do you expect a government to raise minimum wage by x10? This can only be achieved with Zimbabwe-levels of inflation, and it will just ruin economy. Plus you are forgetting that Bitcoin is a globally traded asset, so it's not enough for one country to implement something, all of them should do it to affect Bitcoin.