{"id":518715,"date":"2022-11-30T16:53:00","date_gmt":"2022-11-30T13:53:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/european-central-bank-blasts-bitcoin-community-responds\/"},"modified":"2022-11-30T16:53:00","modified_gmt":"2022-11-30T13:53:00","slug":"european-central-bank-blasts-bitcoin-community-responds","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/european-central-bank-blasts-bitcoin-community-responds\/","title":{"rendered":"# European Central Bank blasts Bitcoin \u2014community responds"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3be7c1587d8\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3be7c1587d8\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/european-central-bank-blasts-bitcoin-community-responds\/#%E2%80%9D_European_Central_Bank_blasts_Bitcoin_%E2%80%94community_responds_%E2%80%9C\" >&#8221; European Central Bank blasts Bitcoin \u2014community responds  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_European_Central_Bank_blasts_Bitcoin_%E2%80%94community_responds_%E2%80%9C\"><\/span>&#8221; European Central Bank blasts Bitcoin \u2014community responds  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvZjgzODM2ZGYtZGRiZC00YTg2LTk0ZDktNWMzNjcxMGRiYzU0LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-b8b12140>In light of the recent FTX collapse and liquidity scandal, regulators in the European Union have joined other global lawmakers in a push for more clear guidelines and regulations on cryptos.<\/p>\n<p>The European Central Bank (ECB) released a blog post titled \u201cBitcoin\u2019s last stand\u201d on Nov. 30, which summarized the financial career of Bitcoin (BTC) amid current price fluctuations. However, instead of outlining the entire picture, which would include both up and downs of the cryptocurrency\u2019s lifespan thus far, it only portrayed its shortcomings.<\/p>\n<p>Written by Ulrich Bindseil and J\u00fcrgen Schaaf, the director <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> and advisor of the ECB, the piece says the digital currency is on \u201cthe road to irrelevance.\u201d <\/p>\n<p>It also claimed that BTC is hardly used for legal transactions and that the regulatory attention it is currently receiving from lawmakers around the world can be \u201cmisunderstood as <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roval.\u201d Additionally, it warned banks on interacting with the digital currency as it could taint their reputation. <\/p>\n<p>On <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> the organization tweeted that any price stabilization BTC may incur now will be artificially induced: <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The apparent stabilisation of bitcoin\u2019s value is likely to be an artificially induced last gasp before the crypto-asset embarks on a road to irrelevance. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/TheECBblog?src=hash&amp;ref_src=twsrc%5Etfw\">#TheECBblog<\/a> looks at where bitcoin stands amid widespread volatility in the crypto markets.<br \/>Read more <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/Hk1LuYX2de\">https:\/\/t.co\/Hk1LuYX2de<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/I3Uidks8Xo\">pic.twitter.com\/I3Uidks8Xo<\/a><\/p>\n<p>\u2014 European Central Bank (@ecb) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ecb\/status\/1597894360510922752?ref_src=twsrc%5Etfw\">November 30, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>However, where there is crypto slander by traditional, centralized financial institutions, there is also the crypto community ready with responses to debunk and defend its assets.<\/p>\n<p>The tweet from the ECB alone received hundreds of responses, with the crypto community fact-checking the claims in the article and highlighting the background of its authors.<\/p>\n<p>One commenter tweeted on the background of Bindseil and pointed out a potential conflict of interest, as he has penned various articles on central bank digital currencies (CBDC) and their use cases.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Author : Ulrich Bindseil <\/p>\n<p>I will just leave that here, so everybody knows about the conflict of interest.  <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/EKz9Mx3ndT\">pic.twitter.com\/EKz9Mx3ndT<\/a><\/p>\n<p>\u2014 \u20bfaseload  (@Endorsen) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Endorsen\/status\/1597901090481373184?ref_src=twsrc%5Etfw\">November 30, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Another user said, while they tried to read it with an open mind, the paper\u2019s claims of BTC not being used for legal transactions and rather \u201cillicit activity\u201d were outdated.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">I clicked on this article with an open mind, willing to have my mind changed<\/p>\n<p>But it opens with a provable lie<\/p>\n<p>The vast majority of Bitcoin usage is for legal spending, for-profit speculation, and gambling &#8211; not &#8220;illegal transactions&#8221;<\/p>\n<p>It&#8217;s not 2012 anymore&#8230; This is a joke. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/037aehMyEN\">pic.twitter.com\/037aehMyEN<\/a><\/p>\n<p>\u2014 FatMan (@FatManTerra) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/FatManTerra\/status\/1597931880300830721?ref_src=twsrc%5Etfw\">November 30, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Others responded with the tried and true meme of \u201cBTC is dead\u201d while still having a rising value of the other. Some even reached back to Dec. 2021 to point out the ECB\u2019s incorrect predictions of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/JanWues\/status\/1597901160337539074\">inflation<\/a> decreases in 2022.<\/p>\n<p>In a similar vein, the decreased value of the Euro was also drawn as a\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BitcoinWhiskers\/status\/1597900424572719104\">comparison<\/a> in many responses from the community. <\/p>\n<p><strong><em><u>Related: <\/u><\/em><\/strong><strong><em>FTX fiasco boosts Bitcoin ownership to new highs: Analysts weigh in<\/em><\/strong><\/p>\n<p>Meanwhile, digital currency exchanges continue to spread across the European Union, with Bitpanda recently obtaining a crypto license in Germany and Gemini getting the greenlight in both Italy and Greece.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/european-central-bank-blasts-bitcoin-community-responds\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; European Central Bank blasts Bitcoin \u2014community responds &#8220; In light of the recent FTX collapse and liquidity scandal, regulators in the European Union have joined other global lawmakers in a push for more clear guidelines and regulations on cryptos. The European Central Bank (ECB) released a blog post titled \u201cBitcoin\u2019s last stand\u201d on Nov&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":518716,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvZjgzODM2ZGYtZGRiZC00YTg2LTk0ZDktNWMzNjcxMGRiYzU0LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74858,75022,74863,74355,28340,72705,71511],"class_list":["post-518715","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-regulation","tag-central-bank","tag-cryptocurrencies","tag-adoption","tag-europe","tag-european-union","tag-government"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/518715","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=518715"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/518715\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/518716"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=518715"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=518715"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=518715"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}