Constant defamation of crypto

[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.

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.

Certainly, people are afraid of change, even if it's for the better, because it's changing their perceived way of thinking. Certainly, the Terra incident, which is extremely saddening since billions were lost within a few days, isn't helping how cryptocurrencies are perceived. On top of that, any so-called plans for recovery backfired. While I don't think that it was intentional, it has certainly caused long-term damage to cryptocurrencies, with people quickly assuming that they're all a bubble about to burst, or just another ponzi.

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[uchegod-21]

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.

That is the nature of man. Man resists anything that differs from status quo, especially when he is not directly involved in the change. Every change brings two results, positive results to people that understand it and follows the trend and negative result to people that have decided to embrace the status quo. This is the reason every technological advancement or innovation is resisted at the initial stage. Electricity was resisted, the use of toilet was resisted, television and lots more. But in all these, a technology with positive impact wins on the long run. It will take some few decades for bitcoin to scale through properly and be trusted by the people.

[TheUltraElite]

Electricity was resisted, the use of toilet was resisted, television and lots more. But in all these, a technology with positive impact wins on the long run. It will take some few decades for bitcoin to scale through properly and be trusted by the people.

I would not say that those things had negative publicity as bitcoin has. Bitcoin has been notorious for its link with ransomware and hackers. That itself has brought down its name more than any other factor, like hacked exchanges. Even then those who have been into bitcoin will remain in it, making it a niche asset.

Defamation only exists if you take it as defaming. Bitcoin is not complaining and neither is it failing its purpose. People who use bitcoin are.

Hence my opinion regarding this is to continue doing what we already have been doing - holding. Let the governments gradually understand the things behind bitcoin and maybe they change their stance.

[Zilon]

No government will want to promote anything they can't control and regulate. Bitcoin is like a threat to the government and all centralized financial institutions. I won't say ignorance is responsible for their defamation of crypto most especially Bitcoin but i will rather link it to fear of the unknown. A fear of what becomes of their nations if the can no longer regulate the flow of funds around their countries

[Oceat]

No government will want to promote anything they can't control and regulate. Bitcoin is like a threat to the government and all centralized financial institutions. I won't say ignorance is responsible for their defamation of crypto most especially Bitcoin but i will rather link it to fear of the unknown. A fear of what becomes of their nations if the can no longer regulate the flow of funds around their countries

Now that people have choices to choose whether they want their money to be used by the bank or be your own bank. Since most of the people suffer from the banking system where they can control your own hard-earned money, people nowadays can choose what type of banking system they want. And since the adoption of crypto keep rising almost everyday while the other use this opportunity to make crypto to look as bad as what they thought just like a scam without even trying to do some research first on how does the scam happen.

But for those who know it they won't get easily scam by these opportunist since they have the right knowledge when it comes to crypto currency.

[wiss19]

It is very normal for something of good value and also something that is a threat or of constant competition to receive such defamation from different parastatals. Cryptocurrency under different occasions has proven to be a likely and a more solid replacement for the current we use now in different regions of the world.

I am sure you’re aware by now that Bitcoin does not support any third party during its transactions, and the absence of a third party like government, banks, etc means absence of extra funds for the above mentioned bodies. So, for anything that stops the flow of your passive or main income, is definitely something you are likely to defame all so that you can get people to take their interest off it.

But unfortunately, cryptocurrency has come to stay, and gradually with time, it will dominate all the monetary bodies present, and as a matter of fact, a few countries have even adopted it as a legal tender. So you can imagine how rapid the growth has been!!

[TheGreatPython]

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

Because they think that cryptos are now starting to become famous so before that happens, they will stop it. For the governments it can be understandable if why they are doing this. Maybe they don't want crypto to be recognized by the many because they are afraid that if people liked crypto, they will not use fiats anymore.

For a random person that isn't related to the government, I don't really know why they are doing this. I mean what can they get in return for doing this? They are only wasting their time and effort but much better if these people do something that is more valuable so that their family is going to be more proud of them.

[Ultegra134]

No government will want to promote anything they can't control and regulate. Bitcoin is like a threat to the government and all centralized financial institutions. I won't say ignorance is responsible for their defamation of crypto most especially Bitcoin but i will rather link it to fear of the unknown. A fear of what becomes of their nations if the can no longer regulate the flow of funds around their countries

Certainly they wouldn't promote crypto, since they are against the principles of the capitalist system, however, you should also take into account that most people have a very  superficial knowledge regarding cryptocurrencies, thus, it's quite understandable for a decent percentage of people to think of them as a ponzi or a scam.

[gazilla]

Well...there are many reasons for this...people in the government ad the banking sector do not want crypto to succed as it disrupts their system. While people in the crypto space want to drive the price down.

[D ltr]

the government hates crypto because it wants to protect its currency so that it remains the main one
if people hate crypto, there are 2 types, in my opinion, the first is those people who are looking for profit with this bad news, crypto prices will fall and they buy as much as they believe crypto will experience a price increase phase and provide maximum profit
second: people who have experienced losses from crypto so that they enthusiastically make hate and bad news about crypto

[Reid]

Probably because they haven't discovered yet on how they could corrupt the crypto industry. They don't know much about it because most who are in government are either stuck on traditional things (fiat) or they are too old to study about it.
Then, there's the constant news about crypto scammers that had made it look more bad. Where do we get our news now? The internet, social media, and vlogs. That is also where cryptocurrencies live. Imagine that.

[AicecreaME]

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

It's because not everyone has the same views as us. Whether we like it or not, people will have different notion about a particular thing. Some might view it beneficial, while some might see it as a hindrance or harmful. This will entirely depend on the knowledge and values you uphold as a human being.

As for those people who keep painting crypto in a bad light, maybe some of them had bad experience with it. Some might just really against it because they lack knowledge or it had been tainted in their heads already. Either of the aforementioned factors, crypto will continue to bloom because it has been really progressive due to technology. It will be the loss of those people who won't believe in it. And perhaps we should just respect their stance as long as they don't disinform.

[Asiska02]

People defaming it and the governments that are not in support of it are only after the self benefits they get from the use of the fiat currency currently. Many have done research and saw that cryptocurrency is here to stay and take over the centralized means of saving money and that is hard for them to believe because they’re blinded by their corrupt mindset. No one can be forced to do against their will, let those that embrace it enjoy its benefit and those that don’t should stop misleading others that are interested in it.

[AmoreJaz]

People defaming it and the governments that are not in support of it are only after the self benefits they get from the use of the fiat currency currently. Many have done research and saw that cryptocurrency is here to stay and take over the centralized means of saving money and that is hard for them to believe because they’re blinded by their corrupt mindset. No one can be forced to do against their will, let those that embrace it enjoy its benefit and those that don’t should stop misleading others that are interested in it.

or better yet, it is the ignorance about crypto market, that drives them this kind of movement. because i am certain that once they get acquainted with crypto or blockchain technology, they will understand why many people are going into this market. the benefits they can get and the convenience are just few things that you can appreciate in crypto. but if they will continue to ignore this market, sooner or later, they will be left behind.

[Silberman]

Electricity was resisted, the use of toilet was resisted, television and lots more. But in all these, a technology with positive impact wins on the long run. It will take some few decades for bitcoin to scale through properly and be trusted by the people.

I would not say that those things had negative publicity as bitcoin has. Bitcoin has been notorious for its link with ransomware and hackers. That itself has brought down its name more than any other factor, like hacked exchanges. Even then those who have been into bitcoin will remain in it, making it a niche asset.

You would be surprised about how brutal the war of the currents was when it came to which electricity system, AC or DC, will be used, dogs and other animals were electrocuted, lawsuits were constant, media wars happened and it even lead to the invention of the electric chair, a third participant which were those that stood to lose out of the adoption of electricity, like those which manufactured kerosene lamps and those which produced kerosene were also against it, so if anything I would say that the war of the currents was as intense or even more intense than what we we have seen so far in the attempts to stop the adoption of bitcoin.

[Shasha80]

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

It's because not everyone has the same views as us. Whether we like it or not, people will have different notion about a particular thing. Some might view it beneficial, while some might see it as a hindrance or harmful. This will entirely depend on the knowledge and values you uphold as a human being.

As for those people who keep painting crypto in a bad light, maybe some of them had bad experience with it. Some might just really against it because they lack knowledge or it had been tainted in their heads already. Either of the aforementioned factors, crypto will continue to bloom because it has been really progressive due to technology. It will be the loss of those people who won't believe in it. And perhaps we should just respect their stance as long as they don't disinform.

We really can't make everyone like crypto, because everyone has their own reasons why they like or hate crypto. Even though today there are still quite
a lot of people who don't like crypto, not even a few people have negative thoughts about crypto. But I believe most people hate crypto, it's because they
don't have proper knowledge about crypto. Because now it is very easy to get the information we want, I believe slowly more and more people are
finally realizing that crypto is something positive and should be supported. So we as crypto supporters just keep trying to educate others, so that more
and more people realize crypto is not as bad as they think.

[Gyfts]

It's not too difficult to understand. Centralized control means the government gets to use their hand to control fiscal policy. Crypto counteracts that and competes with fiat currency for the consumer's business.

If a citizen could decide to use their country's currency that's irresponsibly managed, or choose a decentralized currency that's price is determined by a free market, would you have any apprehension in choosing crypto? Doesn't become a difficult choice even if you live in a country that has a stable currency. Most currencies are inflating at a rate inconsistent with wage growth so it makes it fairly easy to choose crypto over fiat.

This kicks up the disinformation/misinformation campaign quite significantly.

[Jemzx00]

It's not too difficult to understand. Centralized control means the government gets to use their hand to control fiscal policy. Crypto counteracts that and competes with fiat currency for the consumer's business.

If a citizen could decide to use their country's currency that's irresponsibly managed, or choose a decentralized currency that's price is determined by a free market, would you have any apprehension in choosing crypto? Doesn't become a difficult choice even if you live in a country that has a stable currency. Most currencies are inflating at a rate inconsistent with wage growth so it makes it fairly easy to choose crypto over fiat.

This kicks up the disinformation/misinformation campaign quite significantly.

Decentralization on the crypto industry is one of the main reason as to why the government is against it however as time goes on, centralised crypto has already been made which is there are some government that are now considering crypto. But still, some or most government are still against it. It is hard to understand as to why most of the government are still against it even though centralization is already implemented on cryptocurrency.
In regards which people or citizens who are still still against cryptocurrency, I guess the main two reasons as to why they are still against crypto is due to lack of knowledge and having no trust unto funds that has no physical item such as they call "internet money". We might already know that bitcoin doesn't really have a great reputation ever since especially that it was and still widely used on the illegal activities such as darkweb stuffs.

[Theones]

It's not too difficult to understand. Centralized control means the government gets to use their hand to control fiscal policy. Crypto counteracts that and competes with fiat currency for the consumer's business.

If a citizen could decide to use their country's currency that's irresponsibly managed, or choose a decentralized currency that's price is determined by a free market, would you have any apprehension in choosing crypto? Doesn't become a difficult choice even if you live in a country that has a stable currency. Most currencies are inflating at a rate inconsistent with wage growth so it makes it fairly easy to choose crypto over fiat.

This kicks up the disinformation/misinformation campaign quite significantly.

Decentralization on the crypto industry is one of the main reason as to why the government is against it however as time goes on, centralised crypto has already been made which is there are some government that are now considering crypto. But still, some or most government are still against it. It is hard to understand as to why most of the government are still against it even though centralization is already implemented on cryptocurrency.
In regards which people or citizens who are still still against cryptocurrency, I guess the main two reasons as to why they are still against crypto is due to lack of knowledge and having no trust unto funds that has no physical item such as they call "internet money". We might already know that bitcoin doesn't really have a great reputation ever since especially that it was and still widely used on the illegal activities such as darkweb stuffs.

Crypto is famous among only a few educated class. Most of the people are unaware how it works and what are benefits of it.
The more it will be popular - the more pressure will be on government to centralize it. But at this point this is very difficult .

[lixer]

People defaming it and the governments that are not in support of it are only after the self benefits they get from the use of the fiat currency currently. Many have done research and saw that cryptocurrency is here to stay and take over the centralized means of saving money and that is hard for them to believe because they’re blinded by their corrupt mindset. No one can be forced to do against their will, let those that embrace it enjoy its benefit and those that don’t should stop misleading others that are interested in it.

The future is uncertain. We don't know what awaits with us or to these cryptos but one thing is for sure and that is cryptos cant overcome fiats. As we can see, majority of the countries now are into cryptos but only one to two countries have made cryptos a legal tender but despite of it I think those countries are still using a fiat because fiats on their country are still there.

Some countries and banks are also starting to create their own version of cryptocurrency. That only shows that they are not confident with cryptos to be a fiat replacement but I agree that, if they don't like cryptos then fine but can they please shut their mouth up and we will also stop hating them.