Why Does Bitcoin Attract So Much Hate?

By Hannah April 13, 2018 Digital Currency No Comments

Last February, when talking at the CEPS Ideas Lab Conference, in Brussels on “Reconstructing Europe”, Prime Minister Joseph Muscat spoke about cryptocurrencies. At the time he said that cryptocurrencies can’t be halted. Along these lines, he vowed for its regularization.

Prior to this, Joseph Muscat had spoken in favor of blockchain saying the technology does not rely upon the nation’s tax administration. In basic words, it is not everyone that likes what is going on with our tax regime. The utilization of blockchain technology like Ripple (XRP) can’t go under the assault of governments or brokers. This implies his government is interested in the technology.

However, in Malta authorities are reacting positively to blockchain yet they are fairly antagonistic to Bitcoin. Analysts believe that these negative perspectives on Bitcoin are to some extent coming about because of a solid global media battle against cryptocurrencies. Bitcoin has been depicted as fake and is predicted to vanish soon.

However, even whereas Bitcoin comes to an end, blockchain won’t end, as other systems can make use of it. In any case, independently, it is a good for nothing and wasteful database. What makes it progressive is the way that it is a part of the Bitcoin framework.

Based on the Belgian leader’s remarks, the legislature there isn’t anxious about Bitcoin. The same can’t be said of different nations. The portrayal that Bitcoin is hated across all countries is all a lie. The reason behind this is that the ‘powers’ know that through Bitcoin there is a decentralization in money management and money exchange. With Bitcoin, national banks will lose their special status and the powers they currently enjoy. So the hate!

This is one of the very reasons why governments of the so-called ‘great’ nations fear Bitcoin. Once Bitcoin turns into a widely successful medium of exchange for goods and services around the world, the influence of the national banks would stop and their paper cash would be what it truly is, simply printed paper!