Another of the EU's bullshit, such as caps that cannot be removed from bottles, here the issue is to regulate, prohibit and legislate. We leave it to other continents to let people use their initiative to make the world progress.
I would not be surprised that if Trump wins and makes the strategic reserve of Bitcoin that he said he was going to do here they will do the opposite like hell. Just look at the treatment Musk has been given simply because of political ideology, now imagine Trump wins and makes him a minister or something. In the EU they will surely have to do some bullshit to go against it.
Topic: Is ECB Preparing to Ban Bitcoin? Top Analyst Warns of Harsh Taxes, Crackdown - page 2. (Read 333 times)
October 19, 2024, 09:29:16 AM
October 19, 2024, 09:13:34 AM
I just know that for years there have been certain groups that have been trying to direct the EU towards bans regarding the trading and mining of crypto-currencies. One such group even went to the US to ask their government to ban crypto mining a few years ago.
After the WW2 fiasco, it is evident that how the US has been dominating Europe and now its union. They will do anything to get Bitcoin removed from their financial ecosystem but they cannot get their objective accomplished without the nod of the US financial giants. I
When it comes to entrepreneurship, it is completely pointless to compare the EU and the US, we all know where the biggest companies are and how much money they make. Bitcoin is obviously not something that Europeans are too interested in, because there is also a spot ETF, but I don't think there is too much interest in it.
What you are saying is not the whole truth as there are companies of the EU origin that have relocated to the US as they are helpless. They as in those companies have manufacturing plants in the EU but have head offices in the US. The European Bank is only following the order that the US has been controlling for so many years.
October 19, 2024, 08:48:59 AM
~snip~
I think they won't ban Bitcoin. First of all, this argument doesn't make sense and second of all, why should they ban it? It will be a huge step backward. EU needs advancement in IT technologies. I hope they won't do that, especially when even the USA accepted Bitcoin Spot ETFs.
I think they won't ban Bitcoin. First of all, this argument doesn't make sense and second of all, why should they ban it? It will be a huge step backward. EU needs advancement in IT technologies. I hope they won't do that, especially when even the USA accepted Bitcoin Spot ETFs.
I just know that for years there have been certain groups that have been trying to direct the EU towards bans regarding the trading and mining of crypto-currencies. One such group even went to the US to ask their government to ban crypto mining a few years ago.
When it comes to entrepreneurship, it is completely pointless to compare the EU and the US, we all know where the biggest companies are and how much money they make. Bitcoin is obviously not something that Europeans are too interested in, because there is also a spot ETF, but I don't think there is too much interest in it.
After reading the article, I think the most likely scenario is that they’ll ban "Bitcoin mining" in the country.
~snip~
~snip~
They already tried and it didn't work -> Europe rejects proposal limiting PoW cryptos such as Bitcoin but sets draft rules for sustainability.
Besides, does it even make sense to ban cryptocurrency mining in the EU when the share of all EU members is only about 5%?
October 19, 2024, 05:43:30 AM
After reading the article, I think the most likely scenario is that they’ll ban "Bitcoin mining" in the country. But it doesn’t seem like they’ll ban Bitcoin itself. In China, for example, both mining and trading are banned, but if the EU only bans mining and still allows trading, then yeah, it might be a bit of bad news, but overall, it’s not too bad for everyone.
October 19, 2024, 05:16:29 AM
Well, that's a big pile of nonsense that you can usually expect from European bureaucrats who can't agree to stop moving the hands on the clock and stop summer/winter time - and now Bitcoin is bothering them because of the following:
Their arguments remind me of all those who often cry on the forum about spilled milk because they didn't buy BTC on time and now they think the system is unfair because some did it and they didn't. They obviously don't mind the fact that some people bought gold for $1000 an ounce and today sell it for $2500 an ounce, or that some people bought shares of a company for $100 and today sell them for dozens of times more.
As can be seen in the article, their agenda that BTC consumes too much energy and serves only criminals has completely failed, and now they are looking for something new. In case they really try some crazy bans, I suggest they call the Chinese for help, let them teach them how to do it effectively.
I can't believe that what you quoted above from the article, is really an argument. That doesn't make any sense in any universe. How is it unfair if someone bought or mined Bitcoins years ago and now became a millionaire or billionaire? If that's the case, then what about those people who want to buy the house but can't because of unaffordable housing prices? Early real estate investors got houses for a few bucks and today it's impossible to even buy a small studio apartment. They might even say that it's unfair how senior software developers earn 6 figures because they are early adopters of programming languages Quote
The ECB publication criticizes how Bitcoin fares in wealth distribution. The very early adopters benefit from appreciation in its value at the cost of later adopters. In this respect, the report claims that all such value growth causes a widening wealth gap. Also, early investors can gain a superior economic position.
In contrast, there could be little Bitcoin supply left for new investors, and entry would be expensive. This line of argument, however, deviates from earlier criticisms. These have often targeted the volatile nature of Bitcoin and its potential use in criminal activities.
In contrast, there could be little Bitcoin supply left for new investors, and entry would be expensive. This line of argument, however, deviates from earlier criticisms. These have often targeted the volatile nature of Bitcoin and its potential use in criminal activities.
Their arguments remind me of all those who often cry on the forum about spilled milk because they didn't buy BTC on time and now they think the system is unfair because some did it and they didn't. They obviously don't mind the fact that some people bought gold for $1000 an ounce and today sell it for $2500 an ounce, or that some people bought shares of a company for $100 and today sell them for dozens of times more.
As can be seen in the article, their agenda that BTC consumes too much energy and serves only criminals has completely failed, and now they are looking for something new. In case they really try some crazy bans, I suggest they call the Chinese for help, let them teach them how to do it effectively.
This is insane.I think they won't ban Bitcoin. First of all, this argument doesn't make sense and second of all, why should they ban it? It will be a huge step backward. EU needs advancement in IT technologies. I hope they won't do that, especially when even the USA accepted Bitcoin Spot ETFs.
October 19, 2024, 05:07:15 AM
Fears about the ECB Bitcoin ban have swelled since a controversial report’s release. Analyst Tuur Demeester warns that the report’s negative portrayal of Bitcoin could justify harsh ECB Bitcoin regulation, including potential bans. The recent European Central Bank paper, “Distributional Consequences of Bitcoin,” has undoubtedly created controversy among most cryptocurrency advocates.
Some things are going to be seriously wrong in the Europe with European Union are very arbitrary with their decisions and regulations. What the hell they wanted to do by sending warning emails to Elon Musk when this man was going to host a livestream on X with Donald Trump. It's none of business for EU but they actually wanted to intervene it seriously and wrongly.Other signals that EU countries are failing in their regulations and this news is not too shocked with me, based on what I saw from EU recent months.
October 19, 2024, 04:59:44 AM
Well, that's a big pile of nonsense that you can usually expect from European bureaucrats who can't agree to stop moving the hands on the clock and stop summer/winter time - and now Bitcoin is bothering them because of the following:
Their arguments remind me of all those who often cry on the forum about spilled milk because they didn't buy BTC on time and now they think the system is unfair because some did it and they didn't. They obviously don't mind the fact that some people bought gold for $1000 an ounce and today sell it for $2500 an ounce, or that some people bought shares of a company for $100 and today sell them for dozens of times more.
As can be seen in the article, their agenda that BTC consumes too much energy and serves only criminals has completely failed, and now they are looking for something new. In case they really try some crazy bans, I suggest they call the Chinese for help, let them teach them how to do it effectively.
Quote
The ECB publication criticizes how Bitcoin fares in wealth distribution. The very early adopters benefit from appreciation in its value at the cost of later adopters. In this respect, the report claims that all such value growth causes a widening wealth gap. Also, early investors can gain a superior economic position.
In contrast, there could be little Bitcoin supply left for new investors, and entry would be expensive. This line of argument, however, deviates from earlier criticisms. These have often targeted the volatile nature of Bitcoin and its potential use in criminal activities.
In contrast, there could be little Bitcoin supply left for new investors, and entry would be expensive. This line of argument, however, deviates from earlier criticisms. These have often targeted the volatile nature of Bitcoin and its potential use in criminal activities.
Their arguments remind me of all those who often cry on the forum about spilled milk because they didn't buy BTC on time and now they think the system is unfair because some did it and they didn't. They obviously don't mind the fact that some people bought gold for $1000 an ounce and today sell it for $2500 an ounce, or that some people bought shares of a company for $100 and today sell them for dozens of times more.
As can be seen in the article, their agenda that BTC consumes too much energy and serves only criminals has completely failed, and now they are looking for something new. In case they really try some crazy bans, I suggest they call the Chinese for help, let them teach them how to do it effectively.
October 19, 2024, 04:56:59 AM
In summary, they don't like Bitcoin because they earn less money with their banks.
Their argument:
The wealth distribution is not fair because early adopters had it cheaper.
So, gold is not fair as well? What a cruel world!
Existential threat to central banks, risks to financial stability.
What financial stability? Fiat has proven to be the source of most financial crashes.
We live in a free market, if I want I will use carrots for trading.
Their argument:
The wealth distribution is not fair because early adopters had it cheaper.
So, gold is not fair as well? What a cruel world!
Existential threat to central banks, risks to financial stability.
What financial stability? Fiat has proven to be the source of most financial crashes.
We live in a free market, if I want I will use carrots for trading.
October 19, 2024, 04:06:36 AM
Fears about the ECB Bitcoin ban have swelled since a controversial report’s release. Analyst Tuur Demeester warns that the report’s negative portrayal of Bitcoin could justify harsh ECB Bitcoin regulation, including potential bans. The recent European Central Bank paper, “Distributional Consequences of Bitcoin,” has undoubtedly created controversy among most cryptocurrency advocates.
Demeester thinks this is the most aggressive attitude toward Bitcoin central authorities showed. For him, it is a kind of “declaration of war”. The framing could open the door to restrictive legislation, such as severe taxes or outright bans on Bitcoin ownership.
ECB Bitcoin Ban Possible, Analyst Cites ‘Luddite’ Argument
news link: https://coingape.com/is-ecb-preparing-to-ban-bitcoin-top-analyst-warns-of-harsh-taxes-crackdown/
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