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

[Janation]

if a country is prosperous for all people, it is possible to import power from abroad, and it may be that the imported power will have high tariffs in the prosperous country. but I think it is difficult to reduce poverty to 0, even in developed countries is difficult

There is no way you can stop poverty.

That proof of it is that because we are all human. We want to be atop of all of the people and no one wants to be at the equal footings as the other one. As long as economy is existent, poor people will do too, poverty can't be killed. Even if it is the most richest country in the world, the sign of poverty will always be there. If a country will just increase the wage, let's say 10 times more, don't you think that the people will just take advantage of it and stay like that for the rest of their lives? They will not be productive and that will stabilize the production making the country late in development.

[crossabdd]

so, will it still work for a small wage, or enter the crypto world, with more than 10x the opportunity to pay. crypto does not refer to small or large employee wages. I think, most crypto investors are from entrepreneurs. the other small part are employees. so it has no effect. the increase in crypto is based on demand and supply. as of today, millions of employees still have a small salary. but look, !! bitcoin prices keep going up. crypto remains up. so it can't be used as a reference.

[msarro]

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?

FYI bitcoin has touched its ATH of 19000$ with same wages.
There are countries were wages are too low as compared to USA UK, even then bitcoin is revolving around 9k$. Bitcoin is invented to have controlled inflation rate and demand/supply will drive its price.

[The Cryptovator]

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?

Most likely you don't have enough knowledge about economy. A country is free to print lots of money, but have you thought what will happen after that? There is some rules regulation with central bank how much money they should print to keep stable their economy system. They decide it based on so many things especially GDP (Gross Domestic Product). For example you are getting now $10 per hour for your job and you are paying your children's school fee $25 monthly. Imagine if government print more money and they give you $100 per hours then you have to pay your children's school fee $250 monthly. Am I right? Because salary will be increased for all citizens, not only for you. For example you have take a bag of money when you are going to shopping Korea. So what's benefit by printing lots of money? You should read an article Printing Money – Can a Country print Money and get Rich?.

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 will refer again above, it will happen same for crypto-currency as well. If bitcoin price 10000 now on your local country when your wages is 10$ per hours. So it will be 100000 in your local country when your salary will be increased to $100, because I told you before if this happen government will increased wage for all over citizens. So this idea couldn't work.

[White Christmas]

there are many types of jobs in the world and every country is different and not all countries or governments will treat their citizens the same as other countries' policies. so i don't think it's something that can be equated in every country and there are still many other big investors who can afford to make the price of bitcoin soar, if everyone can afford to invest large amounts in the crypto market, then of course that won't happen. remember, there are poor people, simple people, rich people, and even higher

It is that "No government want to make it's citizen Millionaire" it is just the fact that the government wants to rule the whole country in order to provide a proper transaction yet a open transaction for everyone that will be able to see on what are happening on the payments and the transactions that they are doing. Every country has their own government and ordinances or laws in which must be follow by the citizen on the said country even the richest must follow it because it is the law that has been produced by the government and the constitution, those people who are millionaire already are the one who have the key on how they will control the soaring of the cryptocurrency as well as the market.

[ReiMomo]

Bitcoin economy will collapse because too much money out and of course. It can't be a reason for Bitcoin price growing. Only high demand makes price go high.

There's no correlation between the bitcoin price and the fiat or money. Bitcoin price will go up once the demand will increase and the supply, of course, will less because bitcoin has a limit and it is a fixed amount. We can not blame those governments on what they believed because they are blindly and did not see the good future of using bitcoin. They are always afraid of money laundering which is the obligation to pay tax will be affected.

[Wysi]

Bitcoin economy will collapse because too much money out and of course. It can't be a reason for Bitcoin price growing. Only high demand makes price go high.

There's no correlation between the bitcoin price and the fiat or money. Bitcoin price will go up once the demand will increase and the supply, of course, will less because bitcoin has a limit and it is a fixed amount. We can not blame those governments on what they believed because they are blindly and did not see the good future of using bitcoin. They are always afraid of money laundering which is the obligation to pay tax will be affected.

Definitely government will miss out a huge amount of tax due to the money laundering activities but at the same time government is trying to intimidate it's citizens to stop using bitcoin through warnings over emails, ATM machines and this is not just because of money laundering but they are afraid that they will not be able to suck out money from citizens like they had been doing till now in terms of tax and they will lose control over the money if people adopts bitcoin.

[AicecreaME]

if a country is prosperous for all people, it is possible to import power from abroad, and it may be that the imported power will have high tariffs in the prosperous country. but I think it is difficult to reduce poverty to 0, even in developed countries is difficult

Being poor is a choice, even the Government do something about it, if the people are not interested on making their lives fruitful then there is no sense on helping them. Also there are people who'd like to always rely on the help of the Government, it is too tiring to spoon feed people, they will not grow up and they are diseases to the country, that is why there is a lot of people homeless, but I am not saying that all of the people in the streets are like that.

[Baoo]

In my opinion, blaming the governments is not the solution and it will certainly change nothing even the value of wages, it is true that there are some obstacles for the recognition of bitcoin or cryptocurrencies in general but you need to accept the truth and then deal with it, you don't need to be linked to anyone.

Furthermore, the issue that value of Bitcoin is unstable and the opposite is true for the FIAT ( like, Euro, USD..ect ), that's why the governments are really confused.
In my opinion, giving the excuses and complaining is really ashamed and unfortunately, it is widespread in most of people.

[Doell]

how can the government not want to see its citizens become millionaires ,when citizens become more income rich then government will also benefit from various taxes and other management ,regarding salaries I think it still looks high $ 11/hour is not small money even there are still many minimum wages in in other parts of the world ,well wages depend on work too as well and I think different positions so wages will be different especially for a manager or director

[abhiseshakana]

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.

As the winner of World War II, the winner takes all. America dominates the military and America dominates the economy through its currency. But we all agreed on the system all this time. Fiat money system which is actually corrupt and failed. If we use a universally accepted intrinsic currency, then we don't need to worry about inflation. The fiat system creates a debt system, debt securities do not represent the real value of money owned by someone.

Hyperinflation can occur depending on a country's economic conditions, the causes of hyperinflation vary, but usually, it is a revolution, war, or political transition. In addition, a country's fiscal conditions also affect the level of inflation. Conditions of political and security instability in the country put pressure on the state budget, for example, war spending, welfare spending, and public and government spending.

Conditions in Venezuela and Zimbabwe, in addition to being caused by security and political instability, there were shocks that caused shocks to the economies of the two countries. Zimbabwe experienced hyperinflation due to the decline in the results of the pertain (as a result of the redistribution of land by the government). While Venezuela is hyperinflation due to falling world oil prices plus a total economic embargo from the United States.

These economic shocks have a series of impacts, such as the decline in tax revenues which has caused a "hole" in public financing. The government has overcome this by printing money, but this has pushed inflation up. Especially if to meet domestic needs, import must be done and to solve economic problems using direct foreign investment.

[iamsheikhadil]

While it's true because even the politicians who oppose crypto themselves in policies actually personally invest in in crypto themselves with their hypocrite selves. But can they stop the common? Never. Because Bitcoin is there itself to provide privacy and transparency and unmonitored transactions!

[SquallLeonhart]

I don't get people who are claiming bitcoin will die, bitcoin has been in a huge increase just recently, we are talking about a 20%+ YTD increase on January 19th here, that means bitcoin is not going anywhere.

There is no money "going out of" bitcoin neither, because whenever some people take money out of the market, even more goes in and increases the price, plus with the addition of stablecoins, people are not really out of market like they used to, back in 2017 when people went out of the market they withdrew their money to their bank accounts, nowadays they just exchange it for USDT or whatever stablecoin they prefer. It is only humans that can look at a thing that is increasing in price and call it dying, no logical creature can ever look at something getting bigger and assume it is dying.

[doomistake]

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?

Most likely you don't have enough knowledge about economy. A country is free to print lots of money, but have you thought what will happen after that? There is some rules regulation with central bank how much money they should print to keep stable their economy system. They decide it based on so many things especially GDP (Gross Domestic Product). For example you are getting now $10 per hour for your job and you are paying your children's school fee $25 monthly. Imagine if government print more money and they give you $100 per hours then you have to pay your children's school fee $250 monthly. Am I right? Because salary will be increased for all citizens, not only for you. For example you have take a bag of money when you are going to shopping Korea. So what's benefit by printing lots of money? You should read an article Printing Money – Can a Country print Money and get Rich?.

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 will refer again above, it will happen same for crypto-currency as well. If bitcoin price 10000 now on your local country when your wages is 10$ per hours. So it will be 100000 in your local country when your salary will be increased to $100, because I told you before if this happen government will increased wage for all over citizens. So this idea couldn't work.

It is funny how people think that printing a lot more money will solve the problem about being rich and to make the economy growth, they didn't even know the monetary policy that which the Government will decide how much money should be printed, and according to the article that you referred, it will cause inflation which is the opposite of what we wanted for our country, because that will just make things worst for all of us.

And for OP's title, that no Government wants to make its citizen millionaire, is a line which is already been used so many times by toxic citizens that put all the blame to the Government even the are the ones who should be blame for being misfortune, because they are lazy to find a job and raise their families.

[Latviand]

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

Not always. Some government are not adapting cryptos because of its unstable market value which will not promote equality in the market. As far as I know, currencies are created in order to promote balance in the world market and it might be due to lack of market price stability why there are countries which are against crypto adaptation. But let us do hope that someday, problems would be solved and cryptos will be widely used as a currency.

[Beparanf]

While it's true because even the politicians who oppose crypto themselves in policies actually personally invest in in crypto themselves with their hypocrite selves. But can they stop the common? Never. Because Bitcoin is there itself to provide privacy and transparency and unmonitored transactions!

Many just didn't see the usefulness of crypto or blockchain, they just greedy that they will not be able to get something from their people like taxing their assets. Or some are already tired of solving scam reports that came from crypto projects into their government problems. But for sure adoption will rise in each country.

[fiulpro]

I don't think the economy will collapse if there are people with too much money , well taken these people earned this money the white way , without any corruption and without any black money therefore I think the government won't mind it.
Adoption of cryptocurrencies is not as simple as Fiat because you know , it's not just making people billionaires it's about handling the situations with the people since they cannot control them .

[Faxmate]

While it's true because even the politicians who oppose crypto themselves in policies actually personally invest in in crypto themselves with their hypocrite selves. But can they stop the common? Never. Because Bitcoin is there itself to provide privacy and transparency and unmonitored transactions!

Yeah that’s true our rich people and Position’s use to invest their Kirby in crypto but the want to get all the profit alone. Governments are opposing crypto in some countries but not all over the world. So if in your place you are lucky though.  So government are not our enemy but we will have to remain determined about our investment

[Silberman]

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?

The price of bitcoin will reach 100k at some point and it will not be because of small investors it is going to be because of institutional investors, most of the money of the world is being controlled by a small fraction of the population so we need them to invest money in the market and the rest of the population will follow and will begin to use bitcoin as a result of this, besides what you are proposing will create huge levels of inflation and shows your lack of knowledge about the economy.

[FLoving]

While it's true because even the politicians who oppose crypto themselves in policies actually personally invest in in crypto themselves with their hypocrite selves. But can they stop the common? Never. Because Bitcoin is there itself to provide privacy and transparency and unmonitored transactions!

Many just didn't see the usefulness of crypto or blockchain, they just greedy that they will not be able to get something from their people like taxing their assets. Or some are already tired of solving scam reports that came from crypto projects into their government problems. But for sure adoption will rise in each country.

It is all because of not having knowledge to maintain the system of crypto currencies if they will learn about it then they will create some tools with which they will be able to trace the scammers and they will also create wallets for their banks so that we will keep our crypto currencies in banks. We also need to promote the knowledge of crypto everywhere as if there is democracy in our states then we will be able to ask our governments to adopt it for our states.