Can governments limit or regulate the use of cryptocurrencies such as Bitcoin Cash?

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Avatar for Jnavedan
2 years ago

How far are you willing to allow?

The question will sound rhetorical to those who are clear on the fundamental purpose of Satoshi Nakamoto's creation.

Unfortunately, however, most people do not know or understand how disruptive and liberating the mass adoption of Bitcoin can be.

Even worse, some are already in the cryptocurrency market and don't even care about the ultimate purpose of the original proposal, just to satisfy greed and selfishness: They are capable of selling their soul to the devil.

So no government can block the use of cryptocurrencies among the people by not needing trusted intermediaries.

By the way, do you still trust your country's government?

I am not an anarchist. On the contrary, I worked for decades in the service of my country's government, convinced to do the right thing.

However, I will be honest with you. Along the way, I saw with disappointment how the elites abused power and twisted the laws in their favor. At some point, I thought, "when I come to power, I will push for changes to correct this."

I justified it by thinking (as an idealist) that the system was self-perfecting.

Perhaps, some of what I say sounds familiar to you.

I never came to power. For reasons not worth exposing to you here, although I did stand on the sidewalks of it, and believe me, it doesn't feel pleasant. Even more so to those who would kill for it.

Of course, I am not one of those who think and feel that way, thank God.

In that sense, I have lost hope in governments as we know them today and that they show their intentions to control people like you and me to the maximum.

If I learned anything from the current health crisis. It is how fragile is the supposed freedom one used to enjoy. I even question: whether I was ever really free.

Now, to the extent that I am involved with Bitcoin Cash, I feel some independence from what the government does or doesn't do.

In the past, I was totally dependent on the state: So, the change is noticeable; That's where they see the danger.

It's not about giving as much welfare as possible to the people; On the contrary, they seek power by making people dependent and needy on them to ensure livelihood and security.

You understand now why they try to proscribe or to control cryptocurrencies. Although in parallel, they work on imposing by force or by deception, digital money is diametrically opposed to Bitcoin. Yes, CBDCs.

On the one hand, in China, the communist party outlaws cryptocurrencies and prohibits Bitcoin mining in its territory while conducting pilot tests of Digital Yuan, a centralized, programmable currency and transparent to the government but not to citizens.

On the other hand, in El Salvador, they make fake Bitcoin a legal tender, using custodial wallets under the control of government and corporate entities hidden behind the scenes.

In addition, CEX, once they capture capitals, becomes more demanding with KYC. So one loses autonomy in handling money, to the new banks.

Yes, crypto like Bitcoin Cash is open-source, decentralized, public, deflationary, limited, and transparent without giving up privacy. It cannot be censored by any elite clinging to power.

Well, you may already know that the optimists are confident that the converging technology underpinning cryptocurrencies is unstoppable. In a sense, I agree with them, although I do not underestimate the threat of developing quantum computing.

Although you should also know. The weakest link in any cryptocurrency is in who maintains the code. Sure, someone will say anyone can perform a Hard Fork and move on.

Then I remember the Machiavellian saying of divide and conquer.

Also, I ask you: what is the greatest danger one exposes oneself to in this regard?

Blindly trusting the government; For it is your ally and wants the best for you.

I would like to be wrong but check history.

I do not deny that human organization is an immense achievement, but it is systematically perverted today.

Photo by olieman.eth on Unsplash

Thinking out loud

Finally, the answer to the question of the article's title. As far as I am concerned, it is still: Incognito.

It is up to people's intelligence and discernment to decide what is best for them.

Although, if one is guided by history, you will already know the answer. Of course, the future is not yet written. It is up to each one of us.

I will continue to bet on Bitcoin Cash.

And you, what will you do?

An original article by @Jnavedan

The thumbnail by Alexas_Fotos on Pixabay

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Avatar for Jnavedan
2 years ago

Comments

Of course I do not trust the government of my beloved Venezuela. It is the most super corrupt government we have ever had, it is a dictatorship government. Thank God the government can't block the use of cryptocurrencies between people. It is a great advantage that there is no need for intermediaries through the banks.and especially the central bank of venezuela, where corruption rides freely in the hands of the dictatorship.God forbid!

$ 0.00
2 years ago

Yes, I agree with you, the Venezuelan government is not reliable at all. I even think it facilitates a scenario that globalists want to implement in other regions of the world. Just look at neighboring countries trying to replicate the model that Venezuelans are tragically living.

Cryptocurrencies are a means to avoid total control, but it needs to evolve and be adopted in such a way to neutralize the advance of the elites that enslave us.

Greetings, my friend.

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2 years ago