ECB Feels Threatened by Bitcoin, Ask EU to Rein in Virtual Currencies

[the_poet]

It's happening...

http://www.newsbtc.com/2016/10/18/ecb-threatened-by-bitcoin/

[1715031181]

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[pereira4]

Its clear taht the governments will try their best to get rid of Bitcoin. Anyone that things governments are going to be positive or even neutral towards bitcoin are delusional. They are going to be attacking bitcoin as soon as possible since bitcoin goes against their war-on-cash agenda.

[zend7]

They can attack bitcoin as much as they like. All the community here will be always using bitcoin and promoting in different ways. Bitcoin is unstoppable.

A good example is Russia which has ban bitcoin but many people there still use it through VPN and or TOR browser or specific OS like TAILS. They have been attacking bitcoin since the beginning connecting it to the dark net so nothing to wonder or to worry of here. They continue their attack, we continue using it more and more.

[franky1]

they are prepping their switch over to the hyper ledger as they fear people will defect when they "upgrade" the banking system

[European Central Bank]

How bitcoin goes against the war on cash? It's not cash, it's electronic money. One could say that bitcoin is helping the world to go cashless.

satoshi himself called bitcoin electronic cash, though it's drifting further and further away from that.

i'd say cash is more than just paper. in concept it's a form of money you have total control over and once it's gone, it's gone.

[crazyivan]

We ve had tons of similar reports so far, Russia banning BTC, US, this agency or that firm against BTC. Guess what, nothing happened, crypto s still growing and becoming popular day after day so no worries there. Please do not spread the FUD.

[helloeverybody]

This is no different that the news that we've had for long enough stating that all cryptography is to be banned for fears of terrorism . I wouldn't worry about this at all. They would habe to remove an awful lot of freedoms to be able to actually ban bitcoin.

[Wendigo]

If the European Union decided to drop the Euro currency and substitute it with Bitcoin it would make the continent the most prosperous ever And we will run the Yuan and the Dollar into the ground  People will be flocking to Bitcoin from everywhere. Boom - profit for everyone, no more poverty and mortgages. Freedom for the people. Let's do this!

[countryfree]

Many bloggers are prone to exaggeration. It's only a warning. There's no risk yet, as the total market caps of all cryptocurrencies is still peanuts money compared to what the ECB handles.

[Yakamoto]

It's happening...

http://www.newsbtc.com/2016/10/18/ecb-threatened-by-bitcoin/

>wants to ensure that central banks retain control over the financial system

And there you have it, the reason why governments around the world hate Bitcoin. Also the reason why everyone else should be using it.

The EU, according to some documents that have been published by various EU bodies, want a unified military, central bank, open borders, etc., and this seems to reaffirm otherwise relatively unfounded suspicions. Might encourage more people to start using it.

[pereira4]

Its clear taht the governments will try their best to get rid of Bitcoin. Anyone that things governments are going to be positive or even neutral towards bitcoin are delusional. They are going to be attacking bitcoin as soon as possible since bitcoin goes against their war-on-cash agenda.

How bitcoin goes against the war on cash? It's not cash, it's electronic money. One could say that bitcoin is helping the world to go cashless.

It is a way to move money outside of the system which is the point of cash. Paper cash is pretty useless these days beyond local transactions, bitcoin takes this to a global evel and governments hate this, which is why they will try their best to ban it.

[epitome]

Many bloggers are prone to exaggeration. It's only a warning. There's no risk yet, as the total market caps of all cryptocurrencies is still peanuts money compared to what the ECB handles.

it is not that they are planning to ban bitcoin ,it is a fact that ECB feels threatened by bitcoin  and to drive some traffic to the site he has coined some things and nothing concrete ,just assumptions

[JeffBrad12]

There is no way for the ecb for threatening bitcoin in this time, and I think a lot of their effort will be useless for that. Bitcoin are the power of the people around the world, and there is no chance for the bank for to do that.

[Wind_FURY]

This is funny and it also shows their hypocrisy. The main reason why they want to regulate and "limit" cryptocurrencies is because it has the potential to make inefficient markets, that cannot be reached by your everyday legal payment networks and processors, more efficient. A prime example of this is the dark markets. If Bitcoin was not invented the darknet markets would have not been efficient because there are no reliable payment methods. The legal ones have no choice and will stay away because they might lose their business and that is where the hypocrisy comes in. If they only had a choice without risk of losing their business, those same banks and credit card companies would absolutely LOVE to be used in the darknet markets. What they only care is profit.

Another fear is these unregulated markets might develop for the buying and selling of regular items. Imagine you selling your old ipod in Open Bazaar. The trade is and payment are all direct without the banks. It is like you sold the item in person. That is very empowering and that is what the banks want to prevent us from realizing. 

[~Bitcoin~]

I see this as next step from ECB to ignore bitcoin while adopting its underlying blockchain technology, there has been several talks in past too regarding central banks are doing research on using distributed ledger technology like bitcoin but in centralized manner to add more security and transparency to their usual banking transaction. Their view regarding bitcoin may remain always against it and i see this as just another attempt to threaten uses of bitcoin.

[streazight]

It's happening...

http://www.newsbtc.com/2016/10/18/ecb-threatened-by-bitcoin/

They should continue deceiving themselves and others. I do not know why the Government or The EU in particular is so selfish in their attitude towards Citizens. You can be very sure that the main motive behind this attempt of bring down bitcoin is just to prvent people from the freedom and privacy that Bitcoin offers with more target on taxes that are not paid when one is using Bitcoin.

[calkob]

I love the term its happening it really makes me believe that we are changing things..... weather its true or not is another matter..... LOL

[RealBitcoin]

Well you gotta have those moron workers invest their socialized pension into those negative bonds.

It cant work otherwise, can it?

[thejaytiesto]

The governments will never collaborate, this is a war, a currency war, and not only that, it's the very concept of state vs individual freedom. Bitcoin takes away their money control forever.