Constant defamation of crypto

[Silberman]

Why are so many governments and even people constantly trying to defame crypto?

There are basically two reasons for this, ignorance and a desire to keep the status quo, most people do not really know anything about the economy and are afraid of change, so when they hear of this new revolutionary form of money they just reject it based on instinct and nothing more, now governments understand very well what is at stake, which is why they lie about bitcoin so much, since they can see that bitcoin is a threat to the fiat system that benefits them so much and they are not willing to let go of it without a fight.

[Hydrogen]

Perhaps on some level, people fear change. They fear abandoning horses for automobiles. Outhouses for indoor toilets. This fear of change extends to new emerging trends like bitcoin and crypto.

It took 10 years for sailors to mass adopt the explanation of vitamin C deficiency causing scurvy. Even when all of the available evidence and documentation points to a single cause. There is still considerable fear and controversy associated with it.

Even if bitcoin and crypto were a perfect and flawless technology with no disadvantages. It would still take people time to overcome their fear of change and adopt it.

[TimeTeller]

Perhaps on some level, people fear change. They fear abandoning horses for automobiles. Outhouses for indoor toilets. This fear of change extends to new emerging trends like bitcoin and crypto.

It took 10 years for sailors to mass adopt the explanation of vitamin C deficiency causing scurvy. Even when all of the available evidence and documentation points to a single cause. There is still considerable fear and controversy associated with it.

Even if bitcoin and crypto were a perfect and flawless technology with no disadvantages. It would still take people time to overcome their fear of change and adopt it.

They need to experience first hand to remove such fear.
Because most people fear the unknown. So up until they will take a dip on this market, they won't understand this market.
Let us admit that the first time we heard about this market, we were also hesitant at the beginning.
But that will change once you try your hands into this, if you have no knowledge in any market, definitely you will think of things not favor on the subject.
So be more open mind and learning a new market is not actually very hard. But being ignorant is the most common reason why people are in fear of something.

[yhiaali3]

Simply because they hate cryptocurrencies, they hate privacy and decentralization, the main advantage of cryptocurrencies is privacy and decentralization and this is not like governments at all because they like to control and monitor all the financial movements of people, they love the banking system because through the banking system they can control everything and they can monitor and block all financial transfers If they want and this is exactly what governments want, another thing also cryptocurrency gives financial freedom to people and this is something governments hate too.

[Darker45]

I guess we have generally passed through this phase already in cryptocurrency's history. More than constant defamation from countries, we are seeing a serious or even sincere approach in learning, understanding, and regulating it. I consider this a mature approach.

Gone are the days when governments would simply brush the idea of Bitcoin off as a criminal's currency used below the surface web. Right now, we cannot deny that there is in fact an effort to find compromises, to look for ways to adopt crypto without necessarily abandoning the traditional system.

[Jawhead999]

Crypto is really wide discussion, CBDC is an example of crypto and government didn't defame it since they're who launch the CBDC is.

Since this is Bitcoin forum, so I will answer about Bitcoin. Most government and people defame Bitcoin because they didn't trust Bitcoin, this isn't wrong since each people have their own perspective and you can't force them. But what I know is there's already 3 countries accepting Bitcoin as legal tender (El Salvador, Central African Republic and Panama) it will encourage other countries which ban Bitcoin will make Bitcoin is legal (not legal tender). Government will tax Bitcoin and it's win-win situation for them.

[The Sceptical Chymist]

However, this is changing with time since more and more people are investing in the crypto world since they are able to see past all this negativity which is a good thing.

I think you're right.  I lose track of which generation is which, but the way I see it is that it's the old farts running the show now who are the ones trying to suppress crypto (although it would have been nice had OP given some specific examples), while it's the zoomers(?) and Gen Z'ers(?) destined to bring crypto into the world like a seasoned midwife.  

Bitcoin has already been around for almost an entire new generation to come into being (right?), so it's kind of still early and the farts still hold power and their prejudices.  It's going to be a few years yet until those young people who knew of bitcoin from the time they could understand what money is get into politics and start booting the farts out on their asses--if they don't kick the bucket first.

And as I understand it from my reading of crypto history (consisting of exactly two books and zillions of posts on this forum), politicians and average people used to be far more anti-crypto in the early days than they are now.  There used to be US senators calling for bans on bitcoin if I'm not mistaken, and if it weren't for the lobbying done by the Winklevoss twins and some other prominent personalities with more than a little bit of influence, those gray-haired, bag-bellied, bloated old gasbags would have had their way.  Think what you may of the twins and Roger Ver and Charlie Shrem, but it looks to me like they did some good for crypto back when most people didn't even know about it.

Outhouses for indoor toilets.

Betcha that dilemma wasn't causing rifts within families or politicos to tilt the nonsense spout to its maximum pouring angle.

[Kakmakr]

Because some people resist change or anything that challenges the norm and the governments of this world created a norm or standard that they force down on people. The governments of this world can manipulated people with the control that they have over their wealth and also what they do with their wealth.

Now, I am not a supporter of Russia ...but I am going to make an example of how governments can control people and even other governments by using Russia as an example. (What happened when Russia invaded the Ukraine? ==> The West immediately targeted the Russian government and the wealthy people by blocking Bank accounts and also money transfers via SWIFT....so you see what they can do...right? (In this case it was done to try and stop the WAR...so it was good)

Crypto currencies are used to bypass these restrictions and also to make your transactions pseudo anonymous.... and the governments of this world just hate that Crypto currencies can be used for that. (This is why it is being regulated and defined as a Commodity and not as a currency....because they hate competition) 

[so98nn]

Have you seen and listened Warren buffet talking about crypto ever? And have you ever compared Elon musk talking about crypto? You see both of them are billionaires however both of them support crypto currency in entirely different way. One hates it and Call it bubble whole other one wants to expand it, want it go green, accept it in real world application and what not.

Im pretty sure defaming and fame crypto currencies is tug of war. We as common earner and user of crypto shall not get dragged into this. If we have the chance then just keep earning it and using it.

[Fortify]

Why are so many governments and even people constantly trying to defame crypto?

It tends to lead back to one simple fact: crypto is outside the control of any central banks. This means it cannot be manipulated to the advantage of politicians or bank officials who like to flood the market with extra supply in tough times, rather than balance spending. The secondary factor would be that transactions are not as easily traceable compared to the existing financial system which has all sorts of identity record keeping. It's possible for governments to pressure private banks if they feel individuals are up to suspicious activity.

[Dunamisx]

Have you seen and listened Warren buffet talking about crypto ever? And have you ever compared Elon musk talking about crypto?

They were both deplomats and have different perception about Cryptocurrency in general, its not about what anyone says but the reality remains that bitcoin is the only guaranteed digital asset while other cryptocurrencies can fulfill the general opinions being said about them, just as in the case of Luna, i believe there are other shitcoins out there yet to unveil their true identity, but sooner or later they might not stand the test of time.

Im pretty sure defaming and fame crypto currencies is tug of war

to an extent bitcoin cannot be intimidated by any chance with the influence of news or what is been talk about it, all that has been said about altcoins were to an extent true except in the case of bitcoin.

[Silberman]

They need to experience first hand to remove such fear.
Because most people fear the unknown. So up until they will take a dip on this market, they won't understand this market.
Let us admit that the first time we heard about this market, we were also hesitant at the beginning.
But that will change once you try your hands into this, if you have no knowledge in any market, definitely you will think of things not favor on the subject.
So be more open mind and learning a new market is not actually very hard. But being ignorant is the most common reason why people are in fear of something.

I think the majority of those that are here today went through something similar, I remember that not long after I entered the market there was a 10% drop and it took me by surprise that bitcoin could move so quickly, but eventually I got used to it and now such movements do not really mean anything to me, however people are very risk-averse so such a movement is not something that they will like and it could be more than enough for them to get out of this market and think of it as a scam, even if that is not the case and simply the volatility is higher than what they are used to.

[ajochems]

Who like the things, which take the control of them. The government currency will be quick replaced by this cryptosystem.If it was supported by the crytocurrency. The value of government currency will reduce huge in a short period by the new adoption of crytocurrency. For this two reason, mostly the government will ride on the investors.We are enough to make investment now.

[yawars20]

Well there is an old system going on in whole world and when something this massive try to take a spot from old methods of currency trading, There could be great resistance there to face. So far crypto is able to create a good network of so many peoples who understand the concept really well and taking new approaches to increase its network globally.
As far what you said about defamation of crypto from the government sides, I can't deny so many government are banning and not allowing to trade in crypto or imposing different types of laws and high tax system to control it but they can't do much about it because its on internet and so many peoples have approach to it.
Still crypto popularity is increasing and with time many more will understand the concept behind it and join it willingly.

[KingsDen]

Isn't it obvious? It's because they don't believe in them and think that they're just ponzi schemes without any proper backing whatsoever.

This is very far from the truth. You should be an Angel to believe this and think it is the reason government is defaming crypto. Well, it means that your government cares alot and wants everyone to be rich. In reality that is not what government meant for us.
My own government is against crypto in order to save her fiat;
My own government is defaming crypto because it is difficult for she to tax crypto.
My own government is against crypto because they don't control it and cannot print more crypto at will for their own advantage.

Government doesn't fuvking care for you, neither do they want to save you from ponzi schemes.
The highest ponzis that ever existed has some connections with the government.

[Ultegra134]

Perhaps on some level, people fear change. They fear abandoning horses for automobiles. Outhouses for indoor toilets. This fear of change extends to new emerging trends like bitcoin and crypto.

It took 10 years for sailors to mass adopt the explanation of vitamin C deficiency causing scurvy. Even when all of the available evidence and documentation points to a single cause. There is still considerable fear and controversy associated with it.

Even if bitcoin and crypto were a perfect and flawless technology with no disadvantages. It would still take people time to overcome their fear of change and adopt it.

That's accurate, people are afraid of anything that's fundamentally different from what they're used to. As I've mentioned before, on another thread, Cryptocurrencies are relatively new, while people in governance are usually of an older generation. People often associate cryptocurrencies with scams or Ponzi's, but that's entirely not true. Unfortunately, instances of scam coins, rug pulls or even failures such as Terra, whether they were intentionally or not hurt their credibility and how people perceive them.

[lixer]

people are afraid of anything that's fundamentally different from what they're used to. As I've mentioned before, on another thread, Cryptocurrencies are relatively new, while people in governance are usually of an older generation. People often associate cryptocurrencies with scams or Ponzi's, but that's entirely not true. Unfortunately, instances of scam coins, rug pulls or even failures such as Terra, whether they were intentionally or not hurt their credibility and how people perceive them.

This is another point, this actually works in favor of those actually defaming the cryptocurrency, when this rug pulls, dips and so on happen with coins, most naïve people are forced to believe that it is all scam, failing to understand that as long as this money remains an electronic one, this uptrends and downtrends are legally expected to happen because the market is influenced by so many factors which notably one of them is the PRESENCE of the WHALES.

These people splash money into the market at will on a steady basis, and monetary circulations of that nature tend to affect the rise or dip of these coins. But, I strongly believe that soon, everything will be balanced!!

[Silberman]

Perhaps on some level, people fear change. They fear abandoning horses for automobiles. Outhouses for indoor toilets. This fear of change extends to new emerging trends like bitcoin and crypto.

It took 10 years for sailors to mass adopt the explanation of vitamin C deficiency causing scurvy. Even when all of the available evidence and documentation points to a single cause. There is still considerable fear and controversy associated with it.

Even if bitcoin and crypto were a perfect and flawless technology with no disadvantages. It would still take people time to overcome their fear of change and adopt it.

That's accurate, people are afraid of anything that's fundamentally different from what they're used to. As I've mentioned before, on another thread, Cryptocurrencies are relatively new, while people in governance are usually of an older generation. People often associate cryptocurrencies with scams or Ponzi's, but that's entirely not true. Unfortunately, instances of scam coins, rug pulls or even failures such as Terra, whether they were intentionally or not hurt their credibility and how people perceive them.

People are very skeptical, I remember that at the beginning people were very wary of a service like PayPal and I think we could find the same resistance to credit cards or fiat when they were first introduced, so it is natural that people are skeptical about something like bitcoin, the problem is that people see what it is happening with terra and then they make general assumptions about the market, supposing that all coins including bitcoin are the same, which is slowing down the adoption of bitcoin even more, and if to this we add that this plays perfectly into the hands of politicians then it is no wonder adoption is so slow.

[BitcoinPanther]

Why are so many governments and even people constantly trying to defame crypto?

The possible reason why government and other institution defame crypto because the current  crypto industry has many flaws that can be exploited by fraudster and scammers.  Aside from that, lots of cryptocurrency projects are being launched without regulation so many projects developer tends to create project for the purpose of money grab.  And most of all Government hates crypto so whenever they find something that they can use to defame the crypto industry, they publish it.

[bangjoe]

Why are so many governments and even people constantly trying to defame crypto?

The possible reason why government and other institution defame crypto because the current  crypto industry has many flaws that can be exploited by fraudster and scammers.  Aside from that, lots of cryptocurrency projects are being launched without regulation so many projects developer tends to create project for the purpose of money grab.  And most of all Government hates crypto so whenever they find something that they can use to defame the crypto industry, they publish it.

True, one of the reasons, yes, there are still many weaknesses of cryptocurrencies which they then use as material to discredit cryptocurrency itself, especially it is still easy for parties who only want their own profit in this case fraud in the name of cryptocurrency, I agree with that. Plus there are still many people who don't like the presence of cryptocurrencies that take advantage of these weaknesses. I think these parties who slander cryptocurrencies are endless regardless of what their real goals are.