Constant defamation of crypto

[Kweek]

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

[1714700618]

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[Haunebu]

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. Human beings have become so reliant on FIAT that it's difficult for them to trust other payment systems easily.

Also, the many governments actively warn their citizens to avoid investing in them which instills fear and spreads negativity related to cryptocurrencies.

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.

[NeuroticFish]

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

First and most important: governments will officially protect their own currency. This also means bashing crypto, which they may see as competition.

Then: crypto is difficult to understand for economists. It's not that straightforward (for them) why crypto (and especially bitcoin) holds value, and, even more, that value tends to increase over time.

Also crypto is rather technical. Heads of governments and central banks are far from young and they don't understand the technical details and also fear them.

Even more, commercial banks have noticed that crypto can do easily and cheap various things they were doing slow and expensive. That means less revenues for them. So they most probably have done some lobbying against crypto.


Good enough for a quick list?

[tabas]

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

It is because centralization against decentralization. That's where it's rooted and I don't think that they're still too many of them. Majority are not speaking but there are those that have already spoken and they're for the support of it.
What I'm seeing with the constant defamation are coming from the economists and financial experts and you understand it why. Because crypto is against to their traditional business.

[lovesmayfamilis]

OP, out of your 4 open threads, do 3 have the same question? You may wonder why you are so concerned about the attitude of governments towards cryptocurrency and its regulation.

I'd also like to ask you to create more complete questions, because you were given complete answers on three different topics. What did you not like again?

[palle11]

Government is the few people who there to paint a picture of protecting what looks like collective ownership and in this case, the local currency is part of an example. Cryptocurrency is about financial Independence and freedom of use separate from third party. If government is to protect the public they need to know what the public is doing but in terms of financial Independence, blockchain doesn't allow for that third party interference which is the government. This is a major reason for the defamation of crypto and effort is now on trying to make a regulation on it. This is the centralized and decentralised issue running in the system.

[hugeblack]

Not all governments are trying to do this, for example, we have some countries that have decided or will decide to accept Bitcoin as a currency, as an example for that of El Salvador.

Most of the countries that try to "slander cryptocurrencies" are the ones that cannot impose central control on these currencies and therefore cannot control or freeze them as they wish.

The rest of the countries are either afraid of the countries above, or trying to avoid this headache, or do not understand the nature of these currencies and are looking for "international acceptance"

[Moneyprism]

of course they don't want fiat currency to lose its popularity due to the massive adoption of crypto... but sooner or later people will use crypto as their means of payment for their various needs

[ChiBitCTy]

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

Well just think about the types of peoples or groups of people who are naysayers against bitcoin and other cryptocurrencies, they all often seem to have an agenda of some sort against bitcoin/cryptocurrency do they not? Bitcoin is an interruption against governments fiat currencies and many “powerful” people often have interests in banks and other similar institutions that bitcoin goes against.   

[BOAEDAN]

The continuous defamation of bitcoin, actually this has happened for a long time, I myself no longer waste my energy thinking about all that, most of the governments do all that because the government can't take control of bitcoin, that's why many governments always do defamation, but good luck now that there are countries that are willing to accept bitcoin, and accept bitcoin as legal tender.

[gantez]

One thing I think for this defamation by high people and those that in the government is, I think with the existence of fiat there are businesses that they do around with that cryptocurrency will not be easy to do or operate in like setting up of banks, micro finance system for loans and other SME concern with fiat transaction withdrawal and loan. Those business do generate money and interest to the owners as even there alternative source of income or main income. They will defame bitcoin for their selfish purpose.

[bittraffic]

Government of a country are always like that because the government have Central Banks which takes care of the monetary system of the country.
They don't like anyone handling private money of certain groups and most especially the finance all over the world are handled by International Monetary Fund (IMF), they organize the balance in facilitating trade and economic growth.

Would a government or IMF want cryptocurrencies to be used by these countries where they are out of the picture? Hope you won't open another thread with same question.

[TheUltraElite]

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

Cryptocurrency has been associated with terror financing and tax evasion, even if we know that fiat currency has been used for the same too, but the point that bitcoin is pseudo-anonymous and often it is the only currency being accepted by Ransomware hackers, it started to have more of a negative impact in public.

Not being able to see who is sending or receiving builds a sense of suspicion among the person being told about the same. To them it appears as is the parties involved in a transaction have something to hide. This is a side-effect of the system that bitcoin has, not something we can help much. Of course personal experience reduces this suspicion by a lot, but reaching that level requires time.

I will no say that governments defame crypto, it is the choice of the listener to determine whether a statement is defamation or just a warning.

[merchantofzeny]

Nothing new. They want to reserve the power to mint and manipulate money to themselves - it allows them to legally steal your savings. It's a nice racket so obviously they don't want it to change.

[fiulpro]

There are investments that have been there for ages therefore most of them are heavily controlled by the government and also the by the super rich people as well. One must understand that this makes everything to be dominated by those people and companies, now when people have an alternative to that : 'Bitcoins and other Altcoins', the government looses not only money but they also loose : 'control' which to them is extremely essential, this control apparently helps them gain weight. They do not want to let people have their own money and have a control of it. This ends up any chances of them using the people's asset for manipulation according to them.

[bitzizzix]

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

For government reasons maybe because crypto is something out of control like traditional finance, and things out of control are usually seen as a threat.
and the fear of governments or national central banks wanting to control their money, and besides tax reasons if everyone buys or sells everything using crypto, then what's the point of fiat.
and therefore people tarnish the reputation of crypto, none other than because they have suffered losses or scams which are actually their own fault and also have no knowledge and understanding of crypto. So ignore it because everyone will find out for themselves when they find out the truth and realize the good benefits of crypto.

[bustabitsboy]

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

The government of the country wants to control this area. Also receive taxes from the sale and purchase of cryptocurrency. This currency is not suitable for international payments nationwide -probably so many people think. And in the best traditions of world practice, all good things must be discredited. This is what we can observe throughout the entire existence of cryptocurrency.

[Alisha FR]

There are several groups that defame crypto. the first group, those who had invested but ended up feeling disappointed because they lost their money and that was due to lack of education and could not be patient. the second group are people who never believed in the existence of crypto, because they always thought that crypto was still illegal. and another one is the government, they will never want crypto to replace fiat, and until now crypto has been able to compete to replace fiat. Of course, some of the groups I mentioned will always defame crypto so that people don't use crypto.

[Dunamisx]

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

Not only cryptocurrency had been into this hilarious challenge from governments, but I think to an extent cryptocurrency has built a strong resistive nature that could not be influenced by an ordinary news that does not portrait what it means, take bitcoin for an example, it has face alot of challenges from government in terms of regulations on it mining sector, energy consumption, tax, and adoption as a matter of fact but despite all these, the true nature and identity of bitcoin or crypto does not change, it still remains a digital decentralized currency, and remain anonymous and volatile.

[el kaka22]

The main reason is that there are too many people who lose customers because of bitcoin, and those people are usually from wall street. I mean not exactly wall street, but basically hedge funds and investment firms, all around the world.

This means that they have a lot of stock and shares from companies who are in media and other places, and that means we do not really need anything that is specifically related to this situation. They could get anything they want done, they just tell the media companies "we have enough shares to crash you if you do not do what we ask" but in a nicer way, and since they are losing investors to crypto, they get media to say bad things about it.