Political conspiracy against bitcoin

[Tellek Garing]

So many anti bitcoin laws and policies that seek to undermine the existence of bitcoin have been made by government and countries all seeking the centralization of currencies within it region and since bitcoin is a decentralized digital currency most government are against it.

[1714006033]

1714006033

[1714006033]

1714006033

[1714006033]

1714006033

[1714006033]

1714006033

[1714006033]

1714006033

[1714006033]

1714006033

[Oshosondy]

Because fiat was valuable, it was used by criminals, the governments have no alternative than to go for regulation through AML and CTF just to make sure that criminal activities reduced.

Bitcoin is also money and it is used for many transactions now, no alternative for the governments than to go for its regulation, not only bitcoin but all other cryptocurrencies which are money too, they are valuable and now seeing by criminals as a way to receive money.

It is left to you, if you want anonymity, you can make use of noncustodial wallets and exchanges.

[Gyfts]

It's no conspiracy, government likes regulation, and they want fiscal control over their citizens. Their intent is clear and they make no attempt to hide their nefarious actions. Regulate bitcoin through convoluted tax law, or outright ban bitcoin and penalize its usage in order to prop whatever currency the oligarchs want in circulation.

Consider China wanting to outright "ban" bitcoin because they believe its a threat to CNY, can you really call it a conspiracy or is it more of just self preservation? Granted, traditional currencies are a sinking ship, but the government wouldn't want you to know that.

[D-law]

Challenges comes and goes when something/someone is trying to leveling up to standard.
I believe this is a major setback bitcoin is facing, government have all it takes for folks to use bitcoin no more,even to be used underground,but gradually they'll surpass this level.
They simply don't have to banned bitcoin activities but to adapt to the current trend in the world, try to be flexible will be better than being to hard.

[Ultegra134]

So many anti bitcoin laws and policies that seek to undermine the existence of bitcoin have been made by government and countries all seeking the centralization of currencies within it region and since bitcoin is a decentralized digital currency most government are against it.

Nothing to do with conspiracy theories, governments are simply trying to regulate them (or even prohibit their use) in an effort to apply taxation on people holding and dealing with cryptocurrencies. Cryptos are providing us a way to hide income from financial institutions and the government itself, they are losing a huge deal of money that way.

It's the main reason I'm not depositing my cryptos to the bank, I've got a decent amount of money on two separate wallets, if I were to deposit such amount, I'll have to declare them as income/earnings.

[Ebede]

The challenges bitcoin was facing then is government running against cryptocurrencies and bitcoin is labeled evil in government eye sight, politicians is tired of bitcoin because since their false information does not bring bitcoin down since 2012-2013 till date i don't think government procrastination about bitcoin can affect bitcoin again, bitcoin user Power have supersede the power of government for abolishing of bitcoin.

[Tellek Garing]

The challenges bitcoin was facing then is government running against cryptocurrencies and bitcoin is labeled evil in government eye sight, politicians is tired of bitcoin because since their false information does not bring bitcoin down since 2012-2013 till date i don't think government procrastination about bitcoin can affect bitcoin again, bitcoin user Power have supersede the power of government for abolishing of bitcoin.

The decentralized nature of bitcoin is one of the reason the government is against it because bitcoin transactions are decentralized and can not be control by the law, but again I believe the government can not regulate or control decentralized currencies but can only control centralize currencies.

[Piggymonster]

~

I agree on this, infact in my place, the government is now looking on how to capture the taxes that should be paid on income from cryptocurrencies. But they have yet issued guidelines on the classification of cryptos and the computation of the taxes to be imposed. I was happy as my country was an early adapter to cryptos but they also want their fair share and soon they'll be collecting it.

[Ultegra134]

~

I agree on this, infact in my place, the government is now looking on how to capture the taxes that should be paid on income from cryptocurrencies. But they have yet issued guidelines on the classification of cryptos and the computation of the taxes to be imposed. I was happy as my country was an early adapter to cryptos but they also want their fair share and soon they'll be collecting it.

Where are you from, if you don't mind me asking? Similarly, here, there isn't any legal framework against cryptocurrencies, they are now planning to implement new laws but nothing has been heard about it for quite a few months. However, if I were to convert all my coins to fiat currency and then deposit to a bank, I'd have to declare them as income, since it's a decent amount of money, and get taxed at least 24% for it.

Definitely not happening.

[Piggymonster]

~

I am from Philippines where everything has a value added tax hahaha. It sure is an income that is why it is taxable and crypto has becoming mainstream here and a lot of people are earning big time that is why they are looking on how to capture taxes on it.. The only challenge to tax authorities is how they gonna track the income earned and if it will be classify as capital asset or ordinary asset as it has a different tax computation.

[Ultegra134]

~

I am from Philippines where everything has a value added tax hahaha. It sure is an income that is why it is taxable and crypto has becoming mainstream here and a lot of people are earning big time that is why they are looking on how to capture taxes on it.. The only challenge to tax authorities is how they gonna track the income earned and if it will be classify as capital asset or ordinary asset as it has a different tax computation.

I see, I'm from Greece, not much has been done here about cryptocurrencies, they were pretty unknown to the mass till the last few years I'd say at least. Since there isn't any kind of direct taxation for cryptos, I've already managed to deposit a decent sum of money in the past, without getting it taxed. If you're careful enough, there might be a way to avoid it altogether, they don't really bother from where it's coming from here.

[Dripstoil]

So many anti bitcoin laws and policies that seek to undermine the existence of bitcoin have been made by government and countries all seeking the centralization of currencies within it region and since bitcoin is a decentralized digital currency most government are against it.

Crypto is here to stay, and no amount of regulation will stop the anonymity. Those regulations you're talking about are mostly geared towards Exchanges and trading platforms. Even if custodial wallets are regulated, you still have the option to create your own wallet in different forms.

Having your monetary assets stored and secured in a harddrive is such an interesting reality that crypto has come to offer. I don't think any government would regulate your harddrive.

[Ultegra134]

So many anti bitcoin laws and policies that seek to undermine the existence of bitcoin have been made by government and countries all seeking the centralization of currencies within it region and since bitcoin is a decentralized digital currency most government are against it.

Crypto is here to stay, and no amount of regulation will stop the anonymity. Those regulations you're talking about are mostly geared towards Exchanges and trading platforms. Even if custodial wallets are regulated, you still have the option to create your own wallet in different forms.

Having your monetary assets stored and secured in a harddrive is such an interesting reality that crypto has come to offer. I don't think any government would regulate your harddrive.

While it's practically impossible to regulate cryptocurrencies, governments may actually impose tax measures to anyone dealing with crypto and exchanges in general. As a result, we'll have a hard(er) time cashing out earnings in fiat. Despite us being all about crypto and Bitcoin, eventually, we'll all have to turn some of them at least, into fiat, which might result in profit loss and declaration of income, if more regulations take place.

[Masplanc]

This is the challenge of the cryptocurrencies right from time. The government will never stand with cryptocurrency as far as it's not in control of it, for this sake this will be the relationship between cryptocurrency and the government but the biggest Truth about it is that the cryptocurrency will continue to grow.

[Smartvirus]

The very reason that bitcoin is been criticised by the government has been one of the factors that have raised bitcoin publicity to the level it is today and have played a major role in its market price. Of course, it comes with a FUD that pushes for a bear market but, the bear market occurs to ensure a healthy market which would push for the next bullrun.

Governments hatred for bitcoin is inevitable because they understand the liberty citizens of the world stands to gain and government isn't ready to give out that much power of freewill to its citizens just yet and so they fight, fight for gains only centralization can offer.

[Gosgosking]

So many anti bitcoin laws and policies that seek to undermine the existence of bitcoin have been made by government and countries all seeking the centralization of currencies within it region and since bitcoin is a decentralized digital currency most government are against it.

All I know they can't do anything about any about Bitcoin. Bitcoin will still get more popularity no matter what they try to do. The government are so greedy and selfish. Bitcoin will always win no matter there conspiracy.

[Synchronice]

So many anti bitcoin laws and policies that seek to undermine the existence of bitcoin have been made by government and countries all seeking the centralization of currencies within it region and since bitcoin is a decentralized digital currency most government are against it.

Governments are afraid that they won't be able to control Bitcoin but at the same time, they know that it's a source of income for many people and they don't want a wave of protests. In fact, it will be the silliest step for them to ban bitcoin. They choose better tactics that will help them to gain more control over time and all of this will be done smoothly: Make bitcoin-related laws and set regulations on exchanges and bitcoin-related services, over time and smoothly. And whoa, it works.

The whole process to gain control on bitcoin is a very complex task and it's a long-term plan. If you could use bitcoin without any kind of resistance in the past, today you need to be KYC verified in order to exchange money, you have to pay taxes if you got your wage in bitcoin and/or if you got profit from your bitcoin investments.

You have to understand human psychology here. The things that I mentioned above didn't happen overnight because it would cause protest but when you slowly do it, then people start to accept it. You can even compare this process to meds tapering on addicts. They taper the dosage slowly and slowly to make the process less painful and in long term, the user gets out of it without pain but if someone does cold turkey, the user is in enormous pain.

[Wiwo]

The primary factors that are limiting the global Bitcoin adoption are the fact that its security and coding does not allow for other developers and programmer to interfere with the already existing programs and that is why most governments are against its adoption.
This has made me wonder what the future holds for Bitcoin's global presence as a legal tender.

[Gozie51]

It is left to you, if you want anonymity, you can make use of noncustodial wallets and exchanges.

It is just all running around control yes the government is seeking control of everything done, they want to bring it to their nose to sniff and give verdict to it.  They have brought out fiat as legal tender that they support and identify based on local cusmotology and make up but the people now is seeking a choice of an independent money that will give freedom, anonymous usage and hodling that is decentralised , this is the issue. Like you said, the choice still belongs to the people.

[worldofcoins]

So many anti bitcoin laws and policies that seek to undermine the existence of bitcoin have been made by government and countries all seeking the centralization of currencies within it region and since bitcoin is a decentralized digital currency most government are against it.

What I believe here is, Fiat is under the control of the government and they have the ultimate power to control their citizens. Secondly, fiat is being issued under government control whereas bitcoin is a decentralized digital currency, which cannot be controlled by any government.
Thirdly there is limited trackability of bitcoin as compared to fiat. Yes, it's true that most governments are against bitcoin but what I believe here is that strong legislation should be done in order to the utilization of bitcoin under the government's regulations.