Governments work hand in glove with banks, they control and are controlled by the world banking system in turn, they can see what money goes where via the SWIFT system, they can approve or deny transfers based on AML/KYC laws which they can enforce if it comes down to it by applying pressure on the banks themselves, the entire system is old, well understood and thoroughly controlled.
The reserve bank of Bitcoin is completely immune to coercion, you can't freeze funds, you can't stop transactions, you can't do anything at all to the funds in one of those accounts without the consent of the account holder. If the account holder doesn't want you to, you can't even know who they are. Altogether, the entire system is the exact opposite of the global banking system, it is extremely poorly understood and almost entirely uncontrolled.
And that's just with the bank analogies, if you take it up a notch and compare fiat issuance to bitcoin issuance it gets even more frightening from their perspective. There's no nation they can apply diplomatic pressure to to change the fiscal policy of Bitcoin, that fiscal policy is linked to interests utterly alien to their own, even.
From their perspective it is indeed a dangerous thing, the only question to my mind is A) How long will it take them to figure this out and B) when they do figure it out, what kinds of actions will they take to try to destroy it.
The reserve bank of Bitcoin is completely immune to coercion, you can't freeze funds, you can't stop transactions, you can't do anything at all to the funds in one of those accounts without the consent of the account holder. If the account holder doesn't want you to, you can't even know who they are. Altogether, the entire system is the exact opposite of the global banking system, it is extremely poorly understood and almost entirely uncontrolled.
And that's just with the bank analogies, if you take it up a notch and compare fiat issuance to bitcoin issuance it gets even more frightening from their perspective. There's no nation they can apply diplomatic pressure to to change the fiscal policy of Bitcoin, that fiscal policy is linked to interests utterly alien to their own, even.
From their perspective it is indeed a dangerous thing, the only question to my mind is A) How long will it take them to figure this out and B) when they do figure it out, what kinds of actions will they take to try to destroy it.