Do you believe that cryptocurrency will pose a threat to global financial system?
To be honest, I am still surprised that some people alongside the government still regard cryptocurrency as a threat to their country and financial system.
With more retailers accepting cryptocurrencies as a payment method, cryptocurrency is on its way to becoming the default payment method worldwide.
Governments fear that crypto will take away their authority over us and give us the freedom we deserve; they perceive crypto as a threat to their financial system because they will lose control over us; nevertheless, the truth is that crypto will expand and governments will be compelled to accept it.
"Satoshi nakamoto" created Bitcoin, the world's first cryptocurrency, but BTC didn't follow the roadmap as it was hijacked by blockstream. BCH is the true Bitcoin, describing the vision of the actual Bitcoin in terms of P2P transactions, cheap transaction costs, and secure payment.
Freedom.
Speaking of freedom, cryptocurrency has provided its users with the freedom they deserve; we no longer need a third party to govern our money; we are our own bank and have complete control over it.
Governments fear cryptocurrencies because they know they won't be able to control us, but the truth is that cryptocurrency will continue to develop and more merchants will accept it, forcing the government to make it a default payment option.
Because of the rapid development of acceptance, cryptocurrency holders will be able to spend their cryptocurrency in any store and pay their employees with it in the coming years.
Bitcoin cash the sound money.
The value of Bitcoin cash and its characteristics is immense and cannot be overstated, Let's have a look at the advantages it provides;
Instant payment.
Safe and secure payment method.
Low transaction fees.
There is no need to go through the KYC process.
P2P transaction.
With all of the benefits it provides, governments would be obliged to adopt it as a standard payment mechanism that can be used on a daily basis.
Bitcoin cash is here to give us the freedom we've been yearning for. In the coming years, Bitcoin cash will be accepted worldwide, and holders will no longer have to go through the process of converting their BCH to fiat because they'll be able to use it directly from their wallet.
In conclusion.
The government sees cryptocurrency as a threat/danger because it gives us the freedom we want while also removing their ability to regulate and monitor our accounts.
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The truth is that the anonymity of cryptocurrency is what truly terrifies the government.