Bitcoin and cryptocurrencies: public enemies #1

Like outlaws in Wild West movies the governments of the world's major economies are after Bitcoin, dead or alive. The intention of the Central Banks, the Federal Reserve (FED) and even the International Monetary Fund (WMF) agree on the need to regulate the market and use of cryptocurrencies, especially BTC, since they consider that they threaten national security.

Many here at Leofinance.io have replicated the comments of the now head of the U.S. Treasury Department Janet Yellen, who generated great controversy in the world for her position (according to her personally) on cryptocurrencies: "I think many (cryptocurrencies) are used at least in the sense of transactions, mainly for illicit finance", an unfortunate comment that shows fear of the possibility of not being able to control this new revolution.
Image from Cointelegraph Previously from Great Britain, there have been actions to limit or somehow regulate the use (but not the market) of cryptocurrencies. Recently, the Financial Conduct Authority (FCA) of the United Kingdom issued a resolution prohibiting UK companies from offering cryptocurrency derivatives such as futures, options and exchange traded notes (ETNs) to retail customers, as a measure to curb the use of decentralized virtual currencies in the British archipelago.

On the other hand, the authorities of the European Central Bank announced the creation of its own digital currency which will be called Central Bank Digital Currency, which, like cryptocurrencies, will be managed through its own blockchain. The same measure has been applied by the financial authorities of the People's Republic of China, who for several years have been preparing the population (and the world) for the circulation of their digital Yuan/Reminbi, a currency they are already using to pay salaries to public officials.

Evidently, there is a general consensus among the main economies of the world: the enemy to defeat is the Bitcoin. The detractors of cryptocurrencies are the same ones who intend to keep the fiat system afloat, mercilessly attacking Bitcoin by implementing regulatory measures and launching digital versions of their fiat currencies.

For the States, losing their privileges over the finances of the population would be the same as disappearing as a major international player, but blockchain technology and Bitcoin present a very hard obstacle to overcome given the impossibility of penetrating the control of this technology to manipulate, review and observe all transactions made under this system, that is, the more people use this way to establish their economic self-control, the less power the rulers and powerful creators of the nefarious fiat/debt model will concentrate.

While we observe the growth of BTC and cryptocurrencies in the preference of the world population, at the same time the fiat economies are collapsing (the United States at the head) to the same extent that they cannot stop issuing money to the point of exhaustion, devaluating its value and feeding the great monster of inflation. Should the States intervene in the world of cryptocurrencies? I rather think that all of us should intervene, from the small investor to the largest holders in an egalitarian way, directing Bitcoin and the vast majority of cryptos towards strictly democratic governance models, fair and free of price manipulations, the latter is the general clamor of all.

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