{"id":26624,"date":"2024-02-23T10:30:19","date_gmt":"2024-02-23T10:30:19","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ecb-maintains-bitcoins-value-at-zero-in-new-report-crypto-community-counters-with-bitcoin-will-outlive-the-euro\/"},"modified":"2024-02-23T10:30:19","modified_gmt":"2024-02-23T10:30:19","slug":"ecb-maintains-bitcoins-value-at-zero-in-new-report-crypto-community-counters-with-bitcoin-will-outlive-the-euro","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ecb-maintains-bitcoins-value-at-zero-in-new-report-crypto-community-counters-with-bitcoin-will-outlive-the-euro\/","title":{"rendered":"ECB Maintains Bitcoin\u2019s Value at Zero in New Report \u2013 Crypto Community Counters with \u201cBitcoin Will Outlive the Euro\u201d"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<p>European Central Bank (ECB) officials recently expressed skepticism about Bitcoin&#8217;s (<a href=\"https:\/\/igaming.org\/cryptocurrencies\/section\/what-is-a-bitcoin\/\">BTC<\/a>) status as a valuable financial asset, despite the United States Securities and Exchange Commission (SEC) <a href=\"https:\/\/igaming.org\/crypto\/u-s-markets-to-see-spot-bitcoin-etfs-after-sec-approval\/\">approving<\/a> a spot exchange-traded fund (ETF) for the leading cryptocurrency. The ECB, which serves as the central bank for the European Union countries that have adopted the euro, shared their views in a blog post by ECB director General Ulrich Bindseil and advisor J\u00fcrgen Schaaf. They argue that the SEC&#8217;s decision does not validate Bitcoin as a viable payment method or investment, maintaining that <em>&#8220;the fair value of Bitcoin is still zero.&#8221;<\/em><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Bitcoin has failed to become a global decentralised digital currency, instead falling victim to fraud and manipulation. <\/p>\n<p>The recent approval of an ETF doesn\u2019t change the fact that Bitcoin is costly, slow and inconvenient, argues <a href=\"https:\/\/twitter.com\/hashtag\/TheECBBlog?src=hash&amp;ref_src=twsrc%5Etfw\">#TheECBBlog<\/a><a href=\"https:\/\/t.co\/e9Ek01Dism\">https:\/\/t.co\/e9Ek01Dism<\/a> <a href=\"https:\/\/t.co\/ddBFsv4g0w\">pic.twitter.com\/ddBFsv4g0w<\/a><\/p>\n<p>&mdash; European Central Bank (@ecb) <a href=\"https:\/\/twitter.com\/ecb\/status\/1760580254920212640?ref_src=twsrc%5Etfw\">February 22, 2024<\/a><\/p>\n<\/blockquote>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/katsubet-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\t\t<\/p>\n<p>\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/katsubet-casino\/\" title=\"Katsubet\" target=\"_blank\" rel=\"nofollow noopener\">Katsubet<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>5BTC or 111% + 111 Free Spins!<\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive 111% Welcome Bonus  + 111 Free Spins<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/katsubet-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Bindseil and Schaaf criticize Bitcoin for its limited use in transactions, attributing its usage primarily to criminal activities on the darknet. They highlight the cryptocurrency&#8217;s drawbacks, including its inefficiency, high transaction costs, and environmental impact due to the energy-intensive mining process. According to them, Bitcoin fails to offer the tangible benefits associated with traditional assets such as real estate, stocks, commodities, gold jewelry, or works of art.<\/p>\n<p>It goes without saying that such a blog post shared on a social media platform like X does not go unnoticed and the critiques and memes coming from the crypto community are there. Many immediately noted that <em>&#8220;Bitcoin will outlive the Euro&#8221; <\/em><\/p>\n<p><a href=\"https:\/\/igaming.org\/crypto\/green-energy-in-bitcoin-mining-hits-new-peak-at-54-5\/\">Daniel Batten<\/a>, known for his thorough research on the green energy usage of Bitcoin said:<\/p>\n<p><em>&#8220;This is bullish. After ECB published &#8220;Bitcoin&#8217;s last stand&#8221; <\/em><\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/betus\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\t\t<\/p>\n<p>\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/betus\/\" title=\"BetUS\" target=\"_blank\" rel=\"nofollow noopener\">BetUS<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong><strong>Get 125% \/ $2,500 on 1st deposit!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive Welcome Bonus of up to $2,500<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino &amp; Sports<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/betus\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><em>Bitcoin has risen 197% <\/em><\/p>\n<p><em>Keep the FUD coming ECB. <\/em><\/p>\n<p><em>There are over 400Million people globally who have been vaccinated against it now, growing exponentially.&#8221; <\/em><\/p>\n<p>He then shared:<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">In politics a common tactic of deflect attention from your own non-performance is to spread misinformation about a competitor. <\/p>\n<p>With a renewed attack on Bitcoin the same day as their worse performance in 2 decades, it seems <a href=\"https:\/\/twitter.com\/ecb?ref_src=twsrc%5Etfw\">@ecb<\/a> are recycling the same strategy <a href=\"https:\/\/t.co\/J77UFG2MMs\">pic.twitter.com\/J77UFG2MMs<\/a><\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/betus\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\t\t<\/p>\n<p>\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/betus\/\" title=\"BetUS\" target=\"_blank\" rel=\"nofollow noopener\">BetUS<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong><strong>Get 125% \/ $2,500 on 1st deposit!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive Welcome Bonus of up to $2,500<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino &amp; Sports<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/betus\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>&mdash; Daniel Batten (@DSBatten) <a href=\"https:\/\/twitter.com\/DSBatten\/status\/1760832039522390212?ref_src=twsrc%5Etfw\">February 23, 2024<\/a><\/p>\n<\/blockquote>\n<p>Dan Held, an analyst followed by more than 650,000 users, reminded the ECB of its own words:<\/p>\n<p><em>&#8220;Bitcoin could have a negative impact on the reputation of central banks, assuming the use of such systems grows and in the event that an incident attracts the press, since the public may perceive the incident as being caused by a CB not doing its job properly&#8221;\u200a-\u200a ECB (In 2012)<\/em><\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\"><\/div>\n<\/div>\n<p>The last words in this report goes to the biggest Bitcoin bull in the corporate world, Michael Saylor, who hinted what the ECB was actually trying to say, that basically everyone should know about Bitcoin.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The <a href=\"https:\/\/twitter.com\/ecb?ref_src=twsrc%5Etfw\">@ecb<\/a> wants everyone to know about <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#bitcoin<\/a>.<\/p>\n<p>&mdash; Michael Saylor (@saylor) <a href=\"https:\/\/twitter.com\/saylor\/status\/1760749854177775752?ref_src=twsrc%5Etfw\">February 22, 2024<\/a><\/p>\n<\/blockquote>\n<p>The post <a href=\"https:\/\/igaming.org\/crypto\/ecb-maintains-bitcoins-value-at-zero-in-new-report-crypto-community-counters-with-bitcoin-will-outlive-the-euro\/\">ECB Maintains Bitcoin&#8217;s Value at Zero in New Report &#8211; Crypto Community Counters with &#8220;Bitcoin Will Outlive the Euro&#8221;<\/a> appeared first on <a href=\"https:\/\/igaming.org\">iGaming.org<\/a>.<\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/igaming.org\/crypto\/ecb-maintains-bitcoins-value-at-zero-in-new-report-crypto-community-counters-with-bitcoin-will-outlive-the-euro\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) European Central Bank (ECB) officials recently expressed skepticism about Bitcoin&#8217;s (BTC) status as a valuable financial asset, despite the United States Securities and Exchange Commission (SEC) approving a spot exchange-traded fund (ETF) for the leading cryptocurrency. The ECB, which serves as the central bank for the [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":26625,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/26624"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=26624"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/26624\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/26625"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=26624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=26624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=26624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}