Cryptocurrency: Why Govts, World Bank, IMF, Fed, ECB all Trash Bitcoin
grarpamp
grarpamp at gmail.com
Fri Sep 23 21:01:29 PDT 2022
The Real Reason Why Governments, the World Bank, the IMF, the Fed, or
the ECB Falsely Denigrate Bitcoin.OC (inbitcoinwetrust.substack.com)
submitted 18 hours ago by sylsauPlatinum | QC: BTC 448, CC 163, CM 92
| Politics 4392
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[–]WTFsince89Tin | CC critic 25 points 18 hours ago
They will even go so far as to say that Bitcoin facilitates the
financing of terrorism and the resale of weapons and drugs.
C.I.A has left the chat
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[–]Scarecrow4980 11 points 10 hours ago
and cash has been doing that for how long now?
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[–]PushbrownTin | LRC 7 | Superstonk 101 6 points 6 hours ago
THEY want to be the ones funding terrorist and drugs, not us plebs, lmao
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[–]Scarecrow4980 2 points 6 hours ago
lol great point.
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[–]Alarmed_Peach3360Tin 2 points 7 hours ago
Yeah,but they can control cash. Thats why they trying every possible
way against bitcoin.
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[–]Scarecrow4980 1 point 6 hours ago
tell that to the drug king pins of the world. bitcoin has a public
ledger that anyone can follow transactions. they can't do that when
physical cash changes hands.
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[–]leeljayPlatinum | QC: CC 55 | Superstonk 15 1 point 47 minutes ago
In many cases in the past the drug kingpins have been finance by
governments and their ilk
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[–][deleted] 11 hours ago
[removed]
[–][deleted] 10 hours ago
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[–]Odysseus_LannisterPlatinum | QC: CC 1413 59 points 17 hours ago
“The reason why the powerful in the current system denigrate Bitcoin
is simple: Bitcoin challenges an order that has been in place for
centuries regarding money creation. They want to keep the power of
money creation at all costs. But Bitcoin is there to take the power of
money creation out of the hands of the states and give it back to the
people.
It is therefore eminently political and strategic reasons that
motivate governments, the World Bank, the IMF, the Fed, or the ECB
when denigrating Bitcoin.”
This is 100% true. Removing the central authority from the picture for
creating/regulating currency means that those institutions lose
influence and economic power that they’ve fought to create and hold
for years.
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[–]CryptoScamee42069Tin 25 points 16 hours ago
Absolutely correct. No government appreciates limitations on their
ability to create and control money, and with it, society.
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[–]mAsuKinguuu-Bronze | 1 month old | QC: CC 16 2 points 10 hours ago
Robbers hate fellow robbers
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[–]mouthbreathing_idiotTin | 1 month old | Economics 24 -2 points 6 hours ago
Our government, being a democracy (despite the efforts of right
wingers) is drawn from and accountable to the people. 'The Government'
is not separate from society.
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[–]PeanutButterCumbot 3 points 5 hours ago
Surprised to hear you live in a democracy.
I wasn't aware of any actual, functioning democracies in the world.
For instance, the United States is a republic of federated states.
Where do you live?
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[–]mouthbreathing_idiotTin | 1 month old | Economics 24 -4 points 5 hours ago
The United States is, notwithstanding the efforts of many, a
democracy. Hopefully with a few reforms (eg expanding the house and
rebalancing SCOTUS, making DC a state) the foundations will be shored
up against whatever onslaught comes next.
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[–]CryptoScamee42069Tin 1 point 4 hours ago*
I said control society, but since you raised it, I would still argue a
degree of separation from society.
I’m assuming you’re from the US given the context. It was founded as a
representative democracy but it has operated quite separately from
society for some time.
The founding fathers viewed the British political system with disdain.
They considered party politics to be divisive and dysfunctional. The
US was instead founded as a true representative democracy. Later, that
changed and you became arguably the single most party political
country on earth.
So are your representatives drawn from society? Yes. Can anyone do it?
No. Campaigns are obscenely expensive and requires substantial backing
from parties and big business. This breeds a form of elitism that
renders representation being out of touch for most of society, and for
those that it isn’t, it still usually comes with selling out your
values or becoming a puppet of other forces.
Next, there’s your election structure. Super Tuesday is a long held
tradition from a time hosting an election on a Sunday was blasphemous
and it commonly took civilians two days to reach the nearest township
on horseback. That continues as a tradition today even though it is
well known that it disenfranchises the working class. Voting is also
not compulsory, so there’s no incentive for businesses to ensure
voters have the ability to do so (in ‘the land of the free’ no less).
There’s also the electoral college that manipulates the value of
votes. A true representative democracy would measure all votes
equally. This, on top of Super Tuesday preventing all citizens from
being able to vote reinforces how the government doesn’t necessarily
function in the best interest of society, or as part of it.
You are able to vote for a small number of representatives that are
often hand picked and groomed, not necessarily passionate members from
society that put their hand up. You also may not have the chance to
vote, and your vote may weigh differently to that of others.
Aside from voting from someone else, how accountable are they? Public
discourse doesn’t control them, they are rarely prosecuted for crimes
and corruption. They may be impeached or stand down but continue
living their elitist life otherwise unaffected. You can submit FOI
requests to hold the government accountable and those requests can be
denied. Whistleblowers are imprisoned and prosecuted aggressively
often when trying to expose matters of government wrongdoing or other
things of great public interest.
I think they operate quite independently from society and certainly control it.
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[–]OneThatNoseOneBronze 5 points 14 hours ago
It has been overt collusion between Wall Street and monetary
government forever. You make tons through your system as a company,
and we don't crush that system if you allow government oversight and
controls into it . Also on the personal level you give us kicksbacks
through political donations and we don't change our minds about you
and keep the narrative of you as a public social good.
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[–]Cat_PosterBronze | QC: CC 18 3 points 9 hours ago
Long before wallstreet. Governments have been using fiat for hundreds
of not thousands of years, simply creating new ones when their
experiments and policy fail.
The people creating their own that no one control must piss them the
fuck off lol
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[–]CaffdyTin | 1 month old 6 points 12 hours ago
Crypto cutting the middle-man in our financial system is gonna be one
of the greatest triumphs of society, more power to the people
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[–]jesschesterPlatinum | QC: CC 57 | CRO 10 | ExchSubs 10 2 points 9 hours ago*
The only thing I would change about this statement is to replace the
word ‘crypto’ with decentralized businesses technology. Cryptocurrency
is just one specific application within a larger suite of solutions
called Blockchain which is just one method inside of a larger movement
called decentralization. Other powerful industry disruptor examples
include ride share apps, homestay apps, open source technology, online
marketplaces and so on. In short, P2P/crowd tech in general will only
keep advancing and will be one of the greatest most revolutionary
triumphs of society. That is our biggest hope of closing the wealth
disparity gap and eliminating corrupt and predatory behavior.
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[–]rph_throwawayPlatinum | QC: CC 31 | Android 28 -1 points 10 hours ago
The fact that you think bitcoin actually threatens the USD is hilarious.
It's a speculative asset, don't let your greed poison your critical
thinking skills.
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[–]BlooberinoPlatinum | QC: CC 1243 23 points 18 hours ago
tl;dr it's about power and control
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[–]GreenbriarbushwackerPlatinum | QC: CC 184 7 points 18 hours ago
Isn’t everything these elites are involved in
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[–]BornsyPlatinum | QC: CC 98 2 points 16 hours ago
Thank you! Saved me a read.
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[–]OneThatNoseOneBronze 2 points 14 hours ago
Have you ever considered being an author or monetary analyst?
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[–]Scarecrow4980 2 points 10 hours ago
as it always is from those who put themselves on a pedestal.
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[–]deltavictoryPlatinum | QC: CC 491, ETH 144 | TraderSubs 146 1 point
48 minutes ago
As with every centralized government…
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[–]mbearthewelowfTin 9 points 18 hours ago
They enjoy controlling people
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[–]Odd-Radio-8500Tin | 1 month old 2 points 16 hours ago
True enjoying power to control people
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[–]OneThatNoseOneBronze 1 point 13 hours ago
Dark Brandon scheming with his conclave
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[–]ichealbalisTin 25 points 18 hours ago
Because they are a bunch of asshole
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[–]ortenewpoudTin 9 points 17 hours ago
Obviously they are
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[–]Old_beercan76Tin | 2 months old 13 points 17 hours ago
Because the government is not incentivized to improve! Imagine a
grocery store who only has bad parking only at the back of a lot,
another grocery store across the street that has better parking
options will steal that stores business, because the free market
dictates it! But now imagine parking at the DMV, its terrible, and
there is no OTHER DMV TO GO TO, so you're stuck with the shitty
parking options. That's government.
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[–][deleted] 15 hours ago
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[–]Old_beercan76Tin | 2 months old 1 point 14 hours ago
Statistically speaking votes do not matter. You are far more likely to
be hit twice by lightning then have your vote make an impactful
difference even in swing states. Pessimism is warranted when talking
about influencing powerful entities that run the world.
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[–]GayTrainPressureTin 0 points 12 hours ago*
Votes don’t matter, but voting does matter because no one has the right to vote.
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[–]TorsoPantiesTin 1 point 14 hours ago
Now explain monopolies to get the full picture
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[–]Old_beercan76Tin | 2 months old 4 points 14 hours ago
Imagine you live on a street with 10 houses, each house has a child,
and you all shop at the same grocery store. On hot summer days
everyone sets up a lemonade stand to make money. Thing is, as soon as
one stand makes it's first sale it uses those funds to buy more lemons
from the store, dwindling the stores supply. Next door see's this and
decides to join forces. They are buying all the lemons they can. Even
if you sell some lemonade you will not be able to resupply yourself
and will eventually go through your inventory and wont have anything
left to sell. Meanwhile, those that teamed up not only can continue to
make the more lemonade but they bought so many lemons from the store
that the store gave them exclusive rights to be the first purchaser of
all lemons that get restocked. So even if you BORROW some money from
your mom to buy more lemons, you are second in line, and will remain
there, unless you join forces with the kids across the street.
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[–]Salad4HungrysTin | CC critic 1 point 16 hours ago
literally they are
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[–]selphfourgivenessSilver | QC: CC 220, BTC 28 | r/CMS 26 |
Superstonk 24 2 points 15 hours ago
Sometimes the simplest answer is the best
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[–]1000xcoinsTin | 1 month old 1 point 16 hours ago
The real reason
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[–]lowkey_loki97Tin | 1 month old 1 point 16 hours ago
nothing more need to be said
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[–]Salad4HungrysTin | CC critic 1 point 16 hours ago
Absolutely a asshole
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[–]FillupDubyaTin 1 point 14 hours ago
Hahaha yeah they are!!!!
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[–]OneThatNoseOneBronze 1 point 14 hours ago
The simple answer and thefe satisfying answer
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[–]lumpletfure00Tin 14 points 18 hours ago
I think once government have power or control over crypto the purpose
of crypto will be defeated
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[–]Mr_Bob_FergusonBronze | 6 months old | QC: CC 18 6 points 17 hours ago
It’s about working out how to put in a level of regulation to limit
the volume of scams, yet still remain decentralized so that no single
government can control it and we can realize the benefits of crypto.
It will be interesting to watch the balancing act play out over the
next few years/decades.
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[–]nzokot5 0 points 17 hours ago
It's always funny to me how people talk about decentralization and "crypto".
The Truly decentralized "Crypto" is Bitcoin, the rest are 90%
decentralized AT BEST.
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[–]_ncko 1 point 14 hours ago
How so? What makes bitcoin decentralized and eth not?
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[–]cosmicaltoasterTin 2 points 16 hours ago
Do you understand blockchain technology?
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[–]EdgeLord19941Tin 1 point 17 hours ago
Can they even do that to bitcoin at this point? Would other countries allow it?
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[–]CryptoScamee42069Tin 3 points 16 hours ago
I don’t think it’s so much about what other countries can or will
allow, but how governments claim sovereignty over certain elements of
crypto. No country owns the blockchain, but the SEC has authority over
US citizens, which means they can impose regulations or laws on
investors or projects operating out of US territory. That includes tax
frameworks so they can raise revenue to which they believe they
entitled (bastards) and regulating certain aspects of the market by
their own standards. As someone else said, that may look like
protecting US citizens from scams or assets that don’t sufficiently
meet their registration, licensing or reporting requirements, or it
could be any number of other things. That’s why the SEC claim ETH may
be a security is such an interesting case study because they now know
following the merge that the majority of PoS is on US soil, so it
gives them the legal right (by their own laws) to regulate and control
it. That aside, at the end of the day, the biggest impact individual
nations can have is on their own population and I think aggressive
regulation is counterproductive. It undermines transparency and
honesty where people will find loopholes to not pay those taxes,
report capital gains or use shell companies etc to move their
activities away from their resident country. The best approach for
governments, in my opinion, is to embrace the opportunities the
blockchain provides. Regulate it to make it safer and more secure for
your people, sure, but realise that utilizing it and supporting
projects to innovate and operate within your country can provide
substantial economic benefit. Alas, governments don’t give a shit what
we think, so we’ll see what happens…
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[–]TheeAccountantSilver | QC: CC 81, DOGE 36, ETH 18 | CRO 368 |
ExchSubs 368 2 points 16 hours ago
A free people don’t need babysitting by daddy government.
“The illusion of freedom will continue as long as it's profitable to
continue the illusion. At the point where the illusion becomes too
expensive to maintain, they will just take down the scenery, they will
pull back the curtains, they will move the tables and chairs out of
the way and you will see the brick wall at the back of the theater.”
-Frank Zappa
We’ve seen some gaps in that curtain over the past two years. If the
government decides that crypto is a threat to its power, it will
simply make it illegal. As long as they can sufficiently control it,
or it doesn’t affect the majority of their power, they will not expend
much energy over it. The centralized government has zero interest in
protecting any of us proles, despite whatever lame excuse they might
parrot. All it cares about is protecting itself - it’s control and
it’s power.
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[–]jesschesterPlatinum | QC: CC 57 | CRO 10 | ExchSubs 10 1 point 9 hours ago
Nobody can do anything to bitcoin. That’s the whole point. It’s beyond
the control of any bad actor no matter how powerful.
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[–]NiGhTShR0uDPlatinum | QC: CC 774 | IOTA 9 1 point 16 hours ago
All they need to do is control the regulation around it.
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[–]cancerpirateDTin | LRC 20 | Superstonk 36 1 point 14 hours ago
you cannot control bitcoin or ethereum, period.
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[–]OneThatNoseOneBronze 1 point 14 hours ago
I think governments will defeat themselves trying to gain that power
an control. Have you seen their track record?
The fact that crypto got this far and the amount that they're
panicking says quite a lot.
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[–]GayTrainPressureTin 1 point 12 hours ago
They cannot control crypto. Influence, yes. Control, no. And we can
limit our influence by realizing the true nature of government
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[–]jesschesterPlatinum | QC: CC 57 | CRO 10 | ExchSubs 10 1 point 9 hours ago
The only crypto government control is a CBDC which even if implemented
will not suddenly erase the True decentralized cryptocurrencies.
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[–]KAX1107 3 points 17 hours ago*
“Permit me to issue and control a nation's money supply, and I care
not who makes its laws.”
Mayer Rothschild
Everybody you mentioned wants to control the money supply. They can't
kill Bitcoin. All they can do is use your own ignorance against you to
prevent you from understanding Bitcoin and keep their control.
Exit fiat. Enter Bitcoin.
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[–]jesschesterPlatinum | QC: CC 57 | CRO 10 | ExchSubs 10 1 point 9 hours ago
So true. They are seasoned professionals at controlling the narrative
if nothing else. Even in the realm of traditional finance we are
systematically kept in the dark, intentionally under-educated about
financial concepts and laws that can set us free.
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[–]BuyETHorDAIPlatinum | QC: CC 495, ETH 93, ATOM 59 | Politics 20 3
points 14 hours ago*
Bitcoin doesn't challenge anything. It's almost completely useless,
and its issuance policy is unsustainable and will ultimately lead to
lower and lower security until the chain is completely abandoned, much
sooner than 2140. To be honest, I feel horrible for newbies coming
into crypto and thinking Bitcoin is "safe". A bunch of people are
going to get rekt in the next 3-4 halvenings once issuance plummets
and miners start shutting down their machines leaving the chain
susceptible to attack. People will cry to regulators just like the
Luna fiasco and all of crypto will be worse off.
There's two options that I see:
Bitcoiners become self aware and realize that they need to hard
fork to include the capability of verifying zk proofs onchain allowing
true L2s (that actually accrue fees to the base chain) in addition to
adding a tail emission (and breaking the 21M cap) to maintain
sustainable security
Bitcoin fails to change and remains the same as it is today and
ultimately collapses.
There's still time, it just requires gasp off chain governance. Let's
see what Bitcoiners choose.
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[–]btcethmaxiTin | 0 months old 3 points 18 hours ago
Because they cannot control it.
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[–]obstectorishernTin 7 points 18 hours ago
The government cannot infiltrate the crypto world If they could I know
they'll have already done that
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[–]deathbyfish13Premium Shitposter 5 points 17 hours ago
Maybe they already have...
puts tinfoil hat on
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[–]Mr_Bob_FergusonBronze | 6 months old | QC: CC 18 1 point 17 hours ago
So true. If they had/have, it would still be way too early to have
found out about it.
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[–]CryptoScamee42069Tin 1 point 16 hours ago
Hey, you take that off quick stat!
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[–]lowkey_loki97Tin | 1 month old 3 points 17 hours ago
True. why do you think the gov't is offering a bounty to whoever
cracks monero in the first place?
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[–]obstectorishernTin 4 points 17 hours ago
Yes, they must be very piss off that they paid 625 thousand for cracking monero
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[–]Harucifertwitch.tv/Harucifer 1 point 17 hours ago
Small time hackers can do 51% attacks in small coins like Verge, ETC
and Vertcoin. You really don't think the government could easily fuck
up a few of the medium-big coins?
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[–][deleted] 17 hours ago*
[deleted]
[–]jesschesterPlatinum | QC: CC 57 | CRO 10 | ExchSubs 10 1 point 9 hours ago
Regardless of its origins, it is out of their control now.
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[–]ebaleyTin | QC: BTC 61 | CC critic 1 point 11 hours ago
Ironically they use "crypto" to attack Bitcoin. i.e. stuff like Ethereum.
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[–]ShinAlastor 2 points 17 hours ago
They are the first ones taking profit and want to keep away the common
people from it.
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[–]Coalas01Tin 2 points 17 hours ago
The whole point of crypto is to have a government free currency
without all the bullshit attached to governments. Let Crypto breath.
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[–]aNNyHyLaToRTin 2 points 16 hours ago
Not only Bitcoin, but Crypto as a whole, don't forget that.
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[–]demomercuryPlatinum | QC: CC 338 2 points 18 hours ago
And my Axe!
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[–]MaeronTargaryenTin 2 points 18 hours ago
Because they don’t want anyone to go around the system. I’m surprised
they haven’t outlawed putting money under your mattress
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[–]Mr_Bob_FergusonBronze | 6 months old | QC: CC 18 1 point 17 hours ago
Plenty of times throughout history where women, blacks and other
minorities have not been allowed to hold cash or assets.
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[–]Kraz8sPlatinum | QC: CC 124, LW 100, Coinbase 18 | VET 6 | ExchSubs
20 1 point 18 hours ago
🤫 don't give them ideas.
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[–]reddito321 2 points 18 hours ago
Changed Bitcoin to USD in one part of the text and it sounds about right:
They will tell you that USD is being used massively on the Dark
Web for illegal activities. They will even go so far as to say that
USD facilitates the financing of terrorism and the resale of weapons
and drugs.
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[–]reddito321 1 point 17 hours ago
TL;DR: The reason why the powerful in the current system denigrate
Bitcoin is simple: Bitcoin challenges an order that has been in place
for centuries regarding money creation.
It’s a nice read and I recommend everyone to do so.
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[–]CreepToeCurrentSeaUsername says it all 1 point 18 hours ago
Spoiler Alert: It's not about the concern of the public
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[–]Cravensworth_reduxPlatinum | QC: CC 40, DOGE 22 | BANANO 6 1 point
18 hours ago
Because they spent in some cases hundreds of years building a currency
and don't want some upstarts fucking it?
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[–]Slainte042Platinum | QC: CC 540 1 point 17 hours ago
It's like the communists banning religion, they don't want competition.
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[–]Roberto9410Platinum | QC: CC 788 1 point 18 hours ago
Because they have our best interest at heart and are just trying to
protect investors /s
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[–]CartographerActive29Tin 2 points 17 hours ago
Don't forget how awesome a job Biden is doing!
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[–]platniumpersonTin 1 point 17 hours ago
They can't control it, and they can't stop it. That's why they are
pushing hard for the digital dollar for the new world order.
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[–]lurninandlurkinTin | 1 month old 1 point 17 hours ago
Talk it down, start frivolous law suits and buy the dips they created,
just like JP Morgan seems to be doing.
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[–]coinfeeds-botApproved CC Bot 1 point 17 hours ago
tldr; The World Bank, the IMF, and other major institutions keep
falsely denigrating Bitcoin, writes Nassim Taleb. The reason is
simple: Bitcoin challenges an order that has been in place for
centuries regarding money creation at all costs. Bitcoin is there to
take the power of money creation out of the hands of the states and
give it back to the people, Taleb argues.
This summary is auto generated by a bot and not meant to replace
reading the original article. As always, DYOR.
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[–]Julia_VinTin 1 point 17 hours ago
The government could easily fuck up a few of the medium-big coins
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[–]kryptoNoob69420Platinum | QC: CC 546 1 point 17 hours ago
So that their subjects remain shackled and submissive?
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[–]Tatakae69Platinum | QC: CC 888 1 point 17 hours ago
Because the rich want to keep us poor.
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[–]sporobolus_spTin | CC critic 1 point 11 hours ago
Sad but true
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[–]kirtash93The Ash Ketchum of Crypto | Gotta Catch 'Em All 1 point 16
hours ago
They are jealous. They are like Borat neighbour. Borat(BTC) gets
something, neighbour get something but wors.
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[–]brydawgbryTin 1 point 16 hours ago
They scuuurrrrdd!
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[–]ShreyashKesarTin 1 point 16 hours ago
Exactly the same way renewable energy have been so hard to push out
because it challenges the petroleum market and affects US dominance
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[–]kmpoaquestsTin 1 point 15 hours ago
The real answer can be found in this documentary called the matrix
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[–]Sav89_Tin 1 point 15 hours ago
They hate bitcoin because if they ban it outright, they're fucked in
the future. Theyre trying to influence public opinion and get the jump
on the future of financial markets simultaneously.
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[–]Nooodles__Tin 1 point 15 hours ago
Hungry for power, control and manipulation. You’re welcome.
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[–]UnlixGh0stTin 1 point 14 hours ago
What can I say but, that's true.
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[–]aliensmadeusPlatinum | QC: CC 45 | IOTA 9 1 point 14 hours ago
but honest question, doesn't this create a situation thats almost
impossible to win for us?
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[–]pizza-chitfiat miner and burner 1 point 14 hours ago
"I want less power than I had yesterday" -said no government ever
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[–]TheOnlyVibemasterTin 1 point 12 hours ago
Money is power and the more money a government has the more power a
government has over its people
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[–]sporobolus_spTin | CC critic 1 point 11 hours ago
And Goverments move by rich people’s interest
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[–]TheOnlyVibemasterTin 1 point 11 hours ago
They’re controlled by the rich
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[–]Scarecrow4980 1 point 10 hours ago
elitists SUCK!
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[–]inaziodeloyolaTin | ADA 5 1 point 10 hours ago
They do not like competition.
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[–]AllTimeHigh007Tin | 5 months old 1 point 10 hours ago
Personally, I think the elites are the architects behind the
blockchain from its inception. Simply been market testing.
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[–]HannyBo9Platinum | QC: CC 59 1 point 9 hours ago
All of those entities are really the same and they need slaves to survive.
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[–]Amazing_Succotash677Tin 1 point 6 hours ago
Cuz it threatens them
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[–]sc00ttieTin 1 point 6 hours ago
Bitcoin challenges governments monopoly on currency creation and its
inflation. Cantillon effect is how they pick winners in the
corporatism marketplace.
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[–]mouthbreathing_idiotTin | 1 month old | Economics 24 1 point 6 hours ago
And here is exhibit C on why the real world sees cryptobros as a bunch
of cranks and fantasists. Bonus: I think this piece has crossed the
conspiracy theory antisemitic point of no return (scroll down for the
fun chart).
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[–]YvngDesmosTin 1 point 5 hours ago
It was obvious that they were not all unbiased about Bitcoin.
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[–]lordchickenburgerMoon and bitcoin are me love 1 point 4 hours ago
they just want control
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