Mainecat Posted December 1, 2022 Share Posted December 1, 2022 The currency or terrorists….. Bitcoin 'rarely' used for legal transactions, on 'road to irrelevance', say European Central Bank Source: Tech Crunch European Central Bank officials alleged on Wednesday that bitcoin is “rarely used for legal transactions,” is fueled by speculation and the recent erosion in its value indicates that it is on the “road to irrelevance,” in a series of stringent criticism (bereft of strong data points) of the cryptocurrency industry as they urged regulators to not lend legitimacy to digital tokens in the name of innovation. The value of bitcoin recently finding stability at around $20,000 was “an artificially induced last gasp before the road to irrelevance – and this was already foreseeable before FTX went bust and sent the bitcoin price to well down below $16,000,” wrote Ulrich Bindseil and Jürgen Schaaf on ECB’s blog. The central bankers argue that bitcoin’s conceptual design and “technological shortcomings” make it “questionable” as a means of payment. “Real bitcoin transactions are cumbersome, slow and expensive. Bitcoin has never been used to any significant extent for legal real-world transactions,” they wrote. Bitcoin also “does not generate cash flow (like real estate) or dividends (like equities), cannot be used productively (like commodities) or provide social benefits (like gold). The market valuation of bitcoin is therefore based purely on speculation,” they wrote. Read more: https://techcrunch.com/2022/11/30/bitcoin-rarely-used-for-legal-transactions-on-road-to-irrelevance-say-european-central-bank-officials/ Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted December 1, 2022 Share Posted December 1, 2022 7 minutes ago, Mainecat said: The currency or terrorists….. Bitcoin 'rarely' used for legal transactions, on 'road to irrelevance', say European Central Bank Source: Tech Crunch European Central Bank officials alleged on Wednesday that bitcoin is “rarely used for legal transactions,” is fueled by speculation and the recent erosion in its value indicates that it is on the “road to irrelevance,” in a series of stringent criticism (bereft of strong data points) of the cryptocurrency industry as they urged regulators to not lend legitimacy to digital tokens in the name of innovation. The value of bitcoin recently finding stability at around $20,000 was “an artificially induced last gasp before the road to irrelevance – and this was already foreseeable before FTX went bust and sent the bitcoin price to well down below $16,000,” wrote Ulrich Bindseil and Jürgen Schaaf on ECB’s blog. The central bankers argue that bitcoin’s conceptual design and “technological shortcomings” make it “questionable” as a means of payment. “Real bitcoin transactions are cumbersome, slow and expensive. Bitcoin has never been used to any significant extent for legal real-world transactions,” they wrote. Bitcoin also “does not generate cash flow (like real estate) or dividends (like equities), cannot be used productively (like commodities) or provide social benefits (like gold). The market valuation of bitcoin is therefore based purely on speculation,” they wrote. Read more: https://techcrunch.com/2022/11/30/bitcoin-rarely-used-for-legal-transactions-on-road-to-irrelevance-say-european-central-bank-officials/ It's the Pokemon card of currency. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted December 1, 2022 Author Share Posted December 1, 2022 Fake money loved by fake investors robbed by invisible terrorists. Seems legit….lmao Quote Link to comment Share on other sites More sharing options...
Gold Member 800renegaderider Posted December 1, 2022 Gold Member Share Posted December 1, 2022 It’s going to 250k coin Quote Link to comment Share on other sites More sharing options...
Anler Posted December 1, 2022 Share Posted December 1, 2022 What did criminals use before Bitcoin? 1 Quote Link to comment Share on other sites More sharing options...
teamgreen02 Posted December 1, 2022 Share Posted December 1, 2022 Some guy used BTC to buy a pizza one time. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Skidooski Posted December 1, 2022 Platinum Contributing Member Share Posted December 1, 2022 If someone uses crypto to buy things they must be a terrorist 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted December 1, 2022 Platinum Contributing Member Share Posted December 1, 2022 1 hour ago, Anler said: What did criminals use before Bitcoin? cash Quote Link to comment Share on other sites More sharing options...
Mainecat Posted December 1, 2022 Author Share Posted December 1, 2022 1 hour ago, Anler said: What did criminals use before Bitcoin? Untraceable cash…..the problem is it’s hard to send over the internet. Bitcoin is invisible…….lol Quote Link to comment Share on other sites More sharing options...
Rod Posted December 1, 2022 Share Posted December 1, 2022 The USD is by far the largest terrorist note around the world 1 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted December 1, 2022 Author Share Posted December 1, 2022 47 minutes ago, ACE said: The USD is by far the largest terrorist note around the world It’s traceable. Quote Link to comment Share on other sites More sharing options...
Rod Posted December 1, 2022 Share Posted December 1, 2022 7 minutes ago, Mainecat said: It’s traceable. So is Bitcoin Quote Link to comment Share on other sites More sharing options...
Anler Posted December 1, 2022 Share Posted December 1, 2022 2 hours ago, Mainecat said: Untraceable cash…..the problem is it’s hard to send over the internet. Bitcoin is invisible…….lol Bitcoin is a digital ledger, probably the most traceable. Sounds like a pretty dumb way to do crime. Quote Link to comment Share on other sites More sharing options...
Rod Posted December 1, 2022 Share Posted December 1, 2022 3 minutes ago, Anler said: Bitcoin is a digital ledger, probably the most traceable. Sounds like a pretty dumb way to do crime. Wasn’t that blockchains appeal? It’s fully traceable and can’t be forged? Quote Link to comment Share on other sites More sharing options...
Gold Member EvilBird Posted December 1, 2022 Gold Member Share Posted December 1, 2022 @Mainecat is the biggest retard on the site . Great thread Gramps Quote Link to comment Share on other sites More sharing options...
Anler Posted December 1, 2022 Share Posted December 1, 2022 1 minute ago, ACE said: Wasn’t that blockchains appeal? It’s fully traceable and can’t be forged? Must be why the federal reserve made their own digital currency LOL Quote Link to comment Share on other sites More sharing options...
Mainecat Posted December 1, 2022 Author Share Posted December 1, 2022 2 hours ago, Anler said: Bitcoin is a digital ledger, probably the most traceable. Sounds like a pretty dumb way to do crime. Hackers demand it cause its untraceable. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted December 1, 2022 Author Share Posted December 1, 2022 2 hours ago, EvilBird said: @Mainecat is the biggest retard on the site . Great thread Gramps Give it up shorty. Quote Link to comment Share on other sites More sharing options...
Rod Posted December 1, 2022 Share Posted December 1, 2022 Just now, Mainecat said: Hackers demand it cause its untraceable. What are you basing that on? Quote Link to comment Share on other sites More sharing options...
Mainecat Posted December 1, 2022 Author Share Posted December 1, 2022 Our company was hacked and Bitcoin was the ransom. No tracing where it went. 1 Quote Link to comment Share on other sites More sharing options...
f7ben Posted December 2, 2022 Share Posted December 2, 2022 59 minutes ago, Mainecat said: Hackers demand it cause its untraceable. you are so fucking dumb it makes my head hurt Quote Link to comment Share on other sites More sharing options...
Mainecat Posted December 2, 2022 Author Share Posted December 2, 2022 9 minutes ago, f7ben said: you are so fucking dumb it makes my head hurt Your head hurts cause your hats too small for your pumpkin head. Quote Link to comment Share on other sites More sharing options...
f7ben Posted December 2, 2022 Share Posted December 2, 2022 5 minutes ago, Mainecat said: Your head hurts cause your hats too small for your pumpkin head. Quote Link to comment Share on other sites More sharing options...
f7ben Posted December 2, 2022 Share Posted December 2, 2022 Hat is way too small lmfao Quote Link to comment Share on other sites More sharing options...
irv Posted December 2, 2022 Share Posted December 2, 2022 (edited) 11 minutes ago, f7ben said: Edited December 2, 2022 by irv Quote Link to comment Share on other sites More sharing options...
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