Protecting Traditional Currency Is Why Government Is Threatened By Crypto

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Hi there everyone, TheRingMaster is back again with another thought-provoking blog on cryptocurrency and its future. Just a couple days ago I spoke explicitly in one of my blogs about some of the reasons Governments of the world seem to not like the idea of Cryptocurrency and Blockchain technology.

The reasons are pretty obvious and it all falls under one thing, Government Control

• You see government can't exactly be themselves, as they've been over the years without having a very high level of control over the people they govern.

The government runs the economy and the main thing that makes an economy run is money. Whoever controls the majority of flow of finance controls the entire country. This is why the rich seem to have so much power in the world because they control Money.

Also this is why banks keep getting bigger and bigger since traditional money is designed in such a way that it will most definitely be controlled by the banks.

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It's Even Why Corruption Still Exists

• When it comes to a major reason why there's still corruption in politics, I believe how politicians get their positions is why corruption still exists.

Entering the politics game requires a lot of financial support. Campaigns are very expensive and cost millions and millions of dollars to do. These politicians themselves don't have that kind of money to use so they go the rich to ask for help. Rich people do not simply give to politicians because they asked but for a price or some sort of exchange. They make arrangements with these politicians to favor their own businesses when the politicians win power.

So when ministers, Congress and even presidents get power, they are forced to show their gratitude to these rich people that supported them financially by making decisions that favor the rich people even if it would go against the country they were sworn to serve. This has been the biggest reason why corruption still exists till today.

Now for the government to still be in control and have the power to make all the financial decisions, they need to keep traditional currencies going in the country and the world.

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The Thing About Cryptocurrency

The problem Government has with cryptocurrency is that it makes them lose control over the finances of the people of the nation. When more citizens use crypto, government can no longer effectively track income taxes which is their biggest source of income from the country.

Now there's also another problem that crypto brings to the nation and that's one reason governments are fighting it.

If more people start using cryptocurrency then that means there's less traditional currency being used which will immediately lead to the reduction in the value of the currency. This will directly impact the power of the government. This is one thing that I believe scares them the most.

They don't even want a situation where the world adopts both cryptocurrency and traditional currency because the crypto will constantly cause a reduction of the value of the traditional currency since more people would prefer crypto if it's stable to transact.

Crypto is faster, more convenient and more secured in transacting with, so definitely more people would prefer crypto.

Here's A Scenario

Now guys imagine you're in a shop and you have two options of payment, either you pay with let's say HBD or you pay with your credit card? I bet most people reading this blog on Hive would prefer HBD because of how fast and convenient it would be to pay.

Each Mall or shop you go to would have their very own Hive Account and you can seemless
transfer HBD to the store's Hive Account and that's just it, you paid for your goods or service. No tax, no waiting to check if your credit card worked or not. This is how simple our world would be.

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A Speculation worth thinking of

This might just be me speculating but I think it's worth considering. Perhaps or maybe, just maybe some of the cryptocurrency scams and frauds we hear out there might be influenced directly or indirectly by the government in a very subtle way to achieve one effect, discourage more people from even making an attempt to invest in the crypto world.

This is just my opinion and I stand to be corrected but just maybe, the government might be making deals with some hackers and fraudsters to hack Blockchains and commit fraudulent behaviors and then blow it out of proportion in what Donald Trump calls a corrupt Media.

So you turn on your Television, Radio or even on social media and you see a lot of crypto hacking. This makes those that are not already in the industry scared of entering.

Anyone that is against Blockchain is someone that profits heavily from traditional centralized systems.

This is primarily the reasons why Government seems to be against Web 3, crypto and Blockchain. When it comes to the social media aspect of Web 3 and Blockchain, it brings freedom of speech. True freedom of speech.

For instance, making this blog on any centralized Web 2 platform stands the chance of being taken down by any political agency that doesn't want this information out there.

I'll emphasize on the fact that these are my speculative opinions but let's be honest you see it happening exactly so.

This is why it's necessary to stand for Web 3 and cryptocurrency. We need to contribute to the social layer of Hive to make it work.

• I saw the price of the token drop a bit below $0.30 but I'm confident it will be up again. As we contribute to this platform the value will be more stable and even go higher.

I honestly can't wait to see a world where Hive is global and most of what we have as platforms become decentralized.

Thank you so much for your time and as always I would love to get your feedback on the topic discussion.