With the invention of the internet, the world started experiencing the virtual world. The world has been intensely integrated in such a manner that without it, there are no other options. Now, people feel sophisticated when they are away from their mobile phones. While everything comes in two ways, pros and cons. The positive side of it is, that now we are enjoying the facilities of gods which are explained in holy scriptures. One way of saying this is that we are out of our boundaries of capability and exploring new dimensions of liberty.
Due to the newer arena of the new world which was revealed by new concepts of globalization, we people who were enjoying personal freedom with technology out of our capability zones felt some constraints with the jurisdiction of the people mandated institutions, Government. This is what made us think of some way out from such blockage, which would be out of the track of governments. This is why people felt the importance of bitcoins.
Meanwhile, one has to ask a question is it appropriate to seek a way to bypass the government?
To these questions, I have a direct answer if you have a huge amount of money suppose a billionaire, to be honest, you need to seek a way to escape from tax, so bitcoin can be one way. But what if one is poor?
To get an answer to it, first one needs to understand what government is. The government are not only the institutions that suck our money in form of taxation. They must steer the elements of States, they are obliged and mandated to do this. And the power, authority is. Provided by the citizens utilizing their sovereign power. This is to say in one way that government represents the voice Of the people, and executed duties and responsibilities on the behalf of people.
And we need a system to bypass the government's mechanism, what does it mean, it only reflects that we are bypassing ourselves. In such a scenario, as I have mentioned above that if I have a huge sum of money, it will be beneficial for me, on the other hand, it is a way of making our state powerless.
This is why governments are very much concerned about the cryptos, they always search for a way to make the mechanism of crypto space go u der regulations, like in El Salvador. And also India took crypto as gambling and imposed taxes similar to that of gambling. This is to demotivate citizens from entering.
Thus, bypassing the government is not the resolution for the sustainability of the crypto space. While only in one case, crypto will be taken as a world currency if only globalization becomes mature and the world changes to one country or one village as people suggest. Otherwise, bypassing the self is not the way of adopting the government.
With the growing sentiment against the government as corrupted institutions, if we go on seeking the way of bypassing our own representatives, these will make a negative impact.
Thank you,