[2017-05-10] Don’t Buy Bitcoin! Says German Central Bank

[BitcoinArsenal]

The Bitcoin community is rejoicing due to the recent market activities, especially yesterday’s surge in cryptocurrency’s price which broke all the previous records. However, Germany’s Central Bank or at least few of its board members don’t seem to be enjoying the price rally.
Carl-Ludwig Thiele, a Bundesbank board member recently warned people against investing in Bitcoin. Thiele made the statement while speaking to a German newspaper. The news outlet quoted the board member saying,

“Bitcoin is a means of exchange which is not issued by a central bank, but by unidentified actors. I do not see it as a currency. If you think Bitcoin would be as safe as the euro or the dollar, you have to take responsibility for it. We can only warn people not to use the bitcoin to preserve purchasing power.”

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[cr1776]

Shocker.  The central bankers who want to control you and tax you through inflating away the value of your fiat currency don't like bitcoin.

Kind of like ants don't like pest control companies.

What "issues" bitcoin is math and software.  Fool.

[darkangel11]

I'm ready to take full responsibility Mr. Thiele and I think it's much safer than the Euro. Euro, which you are promoting, depends on the situation in your countries, which are currently overrun with rapefugees and murderers and dealing with brexit. I wonder what will happen to Euro when some of the countries that were taking donations from the Union won't be able to pay back, like Greece. What will happen to Euro when another country leaves the Union? 

[joshy23]

Well what do you expect from someone who supported EU? This is truly what they are afraid of bitcoin, they don't have control over it. EU Central bank wants to control everything from taxes to every commodity you buy. I'm not surprise at all, wait till bitcoin really soar in the next couple of years and let EU try to bitcoin technology and see if they are going to be successful. They will be left behind.

[Iranus]

Misleading as hell.  He claims that Bitcoin is "issued by unidentified actors".  Clearly he doesn't understand the process of mining at all or that the supply is fixed.

With fiat, inflation is cumulative which means that the purchasing power from holding fiat goes down more and more the longer you hold it.  While you could imagine the straight line of 2% inflation, the reality is that 2% inflation is 2% on top of the last year's inflation, and the year before that, and the year before that.  Holding money for 50 years would make it pretty close to worthless.

By nature Bitcoin is safer than fiat.  The only warning would be that's it's not stable yet, but if people put their money into it then it naturally becomes stable.  That's why the system is more secure.

[Minecache]

Well what do you expect from someone who supported EU? This is truly what they are afraid of bitcoin, they don't have control over it. EU Central bank wants to control everything from taxes to every commodity you buy. I'm not surprise at all, wait till bitcoin really soar in the next couple of years and let EU try to bitcoin technology and see if they are going to be successful. They will be left behind.

WTF it got to do with EU? He's a fully paid up bankster shill. EU or not EU.

[jamespx]

After I bought my first bitcoin at Paxful....
I've tunnel-visioned lol
Must get to 10 BTC !!!!!

[1Referee]

It reminds me of someone I adviced to step into Bitcoin in December of last year, as he was looking to invest a certain portion of his savings due to the poor interest rates. Instead of seriously looking into Bitcoin, he blatantly ignored it, and told me that he doesn't invest in something that has no real value, and even hints towards a ponzi scheme. On top of that, he adviced even me to stay away from Bitcoin... It's funny that no matter how many times you explain something to people, that they are still not willing to change their stance/attitude towards something. After the price literally demolished the $2000 level this year, he blamed me for not pushing him harder in order to make him invest anyway, lolz.

[Minecache]

It reminds me of someone I adviced to step into Bitcoin in December of last year, as he was looking to invest a certain portion of his savings due to the poor interest rates. Instead of seriously looking into Bitcoin, he blatantly ignored it, and told me that he doesn't invest in something that has no real value, and even hints towards a ponzi scheme. On top of that, he adviced even me to stay away from Bitcoin... It's funny that no matter how many times you explain something to people, that they are still not willing to change their stance/attitude towards something. After the price literally demolished the $2000 level this year, he blamed me for not pushing him harder in order to make him invest anyway, lolz.

If you'd pushed him harder and the price fell I'm sure he'd of been at your door asking for his money back. You can take a horse to water but can't make him drink.