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Why governments are afraid of bitcoin

Story Highlights

  • Full control over financial assets to ordinary people

  • Banks are probably looking forward to the next financial crisis

Ordinary citizens are the main sponsors of all the initiatives of states

Initially, the main mission of Bitcoin, at the time of its creation, the unforgettable Satoshi Nakamoto, was the return of full control over their financial assets to ordinary people. Why hide, our capital is beyond our control, and employers pay ordinary people just as much as they need to exist. It will not be for anyone to discover that it is the ordinary citizens of the country who are the main sponsors of all the initiatives of states, sometimes very, very expensive.

Banks receive giant sums in the form of legal financial support

The main financial institutions of the countries – Banks – receive space sums in the form of legal financial support. Whose means are these? This is taxpayer money. As they say “from each drop by drop – the help to the bank is ready.” The practice of helping “needy” corporations has already become a system. Banks and other large companies are probably even looking forward to the next financial crisis, bringing with them another batch of aid to the “poor” structure that has fallen into a difficult situation. But for the economy, such precedents – direct transfer of money as an aid – is a very harmful phenomenon.

Economists have observed the facts of artificially creating a recession by banks, which deliberately create “bad” conditions for representatives of the financial space to further take critical risks, knowing that in case of large losses help will be received from taxpayers’ funds. Previously, such numbers were held “painlessly” due to lack of awareness of the general public. However, now, the public has become smarter, and people are protesting against “fat-money bankers,” who receive giant amounts of money, because they have connections with the right people, and a springboard for the legality of such operations is prepared very well.

With the advent of new crises and against the background of how the general public is becoming more knowledgeable in matters of the economy and the rational use of taxes paid by them, new methods of attracting funds are being invented. Bitcoin can deprive banks and governments of such enrichment methods at the expense of ordinary citizens, ensuring full control of the latter over their funds and becoming a kind of “refuge” for people from financial crises and “legal” withdrawal of funds. Bitcoin has not yet been adopted, because the rulers are afraid of losing control over people

Mur Kvantaliani

MUR KVANTALIANI Mur Kvantaliani is an International researcher, scholar and journalist. His interests focus on geopolitics, economics, renewable energy and new technologies. Mur holds Masters degrees in English and German literature. He has lived and worked in the United States and Germany where he developed his career as a journalist and creative writer.

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