"Behind closed doors, EU officials talk about banning Bitcoin"

[mk4]

You know the drill — waste of energy etc etc nothing new. Just thought I'd post this here because of this specific quote:

"If Ethereum is able to shift, we could legitimately request the same from BTC. We need to “protect” other crypto coins that are sustainable. Don’t see need to “protect” the bitcoin community."

Just something to laugh at.

Source: https://netzpolitik.org/2022/climate-measures-behind-closed-doors-eu-officials-talk-about-banning-bitcoin/

[hd49728]

Fud or attempt to prevent people exposure or access to Bitcoin. How many times such things happened? Have governments ever succeeded with their bans, restrictions? They failed in reality and now any people believe that governments, EU will succeed this time?

In crypto market, Bitcoin recovered so strong and today it has been moving above $42,000. Will it continue the rise to $50,000? Will this ban be a booster for Bitcoin to break $69,000?

Read informative articles to break down Bitcoin Fuds with https://endthefud.org/

[Lucius]

It is hard to believe what European bureaucrats are doing at a time when we are threatened not only by inflation but also by hyperinflation, and when in the 21st century wars of conquest and aggression are being waged in Europe. Together with the banking lobby, they are trying to prove that Bitcoin is responsible for climate change that has been going on for at least 100 years.

To make matters even more tragic, they admit that crypto mining in the EU is not even a problem because it is practically only in traces, but will ban Bitcoin because they want to be globally aware and help hungry children in Africa or polar bears at the North Pole.

European regulators have two tools at their disposal to curb Bitcoin’s hunger for electricity. One is to ban EU-wide mining of cryptocurrencies that use proof-of-work. However, the effect would be limited: Since hardly any mining happens in EU countries, this would have „almost no direct effect on the global mining industry – and thus the energy consumption“ of Bitcoin, says Michel Rauchs, who is a researcher at Cambridge University.

This is just another proof that the world is run mostly by idiots (with rare exceptions) who do not understand why Bitcoin uses POW, and praise some other projects that are of course centralized and use POS. If there is truth in this, then the EU will become more and more like China, which has done exactly what they want now.

[DdmrDdmr]

The quote seems to be from a meeting with the Swedish financial supervisor and environmental agency back in november 2021, and probably formed part of the preliminary discussions concerning whether to ban PoW in the EU, which last month morphed in the EU into a debate on the appropriate taxonomy for PoW coins, and the implications it may still have at some point. With a bit of luck, the debate is past that, although it goes to show how some brilliant minds work.

Going over the pdf which is the net source for the quote, there are a couple more highlighting:

<…> Which service does Bitcoin offer that Solana1 does not offer to society? <…>

Comes to this from a consumer perspective. How would disappearance of bitcoin affect consumers? Participants in BTC are fully aware of the volatility of the currency/investment risk. Do not need additional protection measures.

So, since we are aware that it is volatile, we can easily digest BTC being banned …

Note: It would be interesting to know what the redacted paragraphs pointed to too.

[amishmanish]

I dont know , but first thing governments do to make their point is to say that crypto is used for illegal activities. I dont know how much of this is true, But yes I don't want, bad publicity for bitcoin, so there is a need of some sort of government free control, an international collaboration for managing free and fair bitcoin arena. Which allows bitcoin trade, but no illegitimate usage. Lets see what comes up 

[Leviathan.007]

This can happen or not but news like this one brings nothing than fear to the market, I leave by having this huge amount of investors and users in Europe also considering the growing number of the bitcoin ATMs, that's really not going to be happening at least not now with the current situation, or they maybe want to suspend any cryptocurrency and bitcoin trades other than the trades with KYC with is legalized by them, because I don't expect to see Europe suspending cryptocurrency completely.

[bitmover]

You know the drill — waste of energy etc etc nothing new.

Going over the pdf which is the net source for the quote, there are a couple more highlighting:

<…> Which service does Bitcoin offer that Solana1 does not offer to society? <…>

I believe all this can be summarized  as "let's make people use some altcoin we can control, such a Solana which uses pos"

Conveniently,  the "green" alternative to pow is something nations can control much easier, pos.

It is easier just to buy coins or coerce the biggest holders (I.e validators) then having to buy hardwares, expend a he'll lot of electricity, etc.

[Argoo]

It is well known that states treat cryptocurrency more with distrust and hostility than accept it for full circulation on their territory. They cannot control it and this is decisive in their attitude towards cryptocurrency. Therefore, states, with some exceptions, will be happy to use the version of the high energy costs of cryptocurrencies, in particular, those that use the PoW algorithm. This is also facilitated by the fight against global climate change announced at the recent G20 summit. Therefore, any decisions regarding such a cryptocurrency are possible.

[Flexystar]

This is definitely those morning cup of coffee discussion of politicians when they just woke up from their good night sleep. You know, they are like some oldies of 60-70s thinking about how to tease the new world with their old style bank notes. They are real dreamers you know, they think they are saving the whole earth by implementing the idea of PoS and saving some electricity for the future generation.
Meanwhile future generation: On Mars, Wow look at that South Pole mountain. Lets climb it.

I am not sure what is the problem with these guys really. The world is full of innovations, modesty is at its best. We all know the green emission are higher from refrigerators and cars than what it takes for PoW.

[usekevin]

But it was not the only talk against crypto currency.The EU had strong influence on the economy.So they trying to make changes all the time,most of the economic impacts was done by the Eurozone.Because they was dam give financial help to many of the country in the world.If this works,their will some reduction in the price of bitcoin.

[fiulpro]

Goodness! This is joy to see the world talk about bitcoins like that. The main reason they are giving is : Sustainability whereas we are quite aware that the factories and industries are still running to the standards of 1800's. There are many other things which are supposedly a threat to the whole community and sustainability and a whole but blaming it all on bitcoins is something else plus do they not understand that shifting is not that easy? Definately it's a hard task and at the same time they can also help provide the miners with renewable sources of energy that they can pay back slowly over the span of years and therefore they would protect the community and at the same time they would also be able to have the bit of control they always wanted.

[The Cryptovator]

Really sad, but hope it will not happen. Haters always stand against Bitcoin and present some stupid excuse always. Wondering why the EU suddenly standing against Bitcoin? Is that reason Russia supports Bitcoin payment? Even banning how will they prevent users those love Bitcoin? If they decide to ban Bitcoin eventually it will impact huge negatively on the Bitcoin ecosystem. But still, I believe it will not happen and they will realize the importance of Bitcoin.

[teosanru]

You know the drill — waste of energy etc etc nothing new. Just thought I'd post this here because of this specific quote:

"If Ethereum is able to shift, we could legitimately request the same from BTC. We need to “protect” other crypto coins that are sustainable. Don’t see need to “protect” the bitcoin community."

Just something to laugh at.

Source: https://netzpolitik.org/2022/climate-measures-behind-closed-doors-eu-officials-talk-about-banning-bitcoin/

I don't know how true this news is but obviously this is going to come one day, governments want some excuse or the other to close Cryptos, they know to maintain financial autonomy with them they need to keep a check on completely decentralised Cryptos and there is nothing more decentralised as bitcoin if they would ban it eventually the rest of the market is won't be able to flourish back for a long time too. Otherwise we all know the net carbon footprint of bitcoins isn't much different than that of the fiat and banking system.

[Bitstar_coin]

Really sad, but hope it will not happen. Haters always stand against Bitcoin and present some stupid excuse always. Wondering why the EU suddenly standing against Bitcoin? Is that reason Russia supports Bitcoin payment? Even banning how will they prevent users those love Bitcoin? If they decide to ban Bitcoin eventually it will impact huge negatively on the Bitcoin ecosystem. But still, I believe it will not happen and they will realize the importance of Bitcoin.

Why will they decide to ban just because Russia supports btc payment! Even if they succeed in banning how is this going to directly affect Russia?
It is ridiculous for to think this way, trying to cut the btc community off just because eth is shifting which is not even certain yet, all we hear is postponement.
I can't wait to see how successful they will be trying to ban btc, if they will actually succeed.

[Coyster]

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You're making multiple insubstantial posts in a row, so let us start from there, mind you it is against the rules here. You can merge all of them in one single post mate.

As for the contents of your post, i honestly do not get your point, Bitcoin is volatile, and the 'people' you're talking about who bought Bitcoin and bla, bla, bla didn't make profits are speculators who are speculating on the price of Bitcoin, there is nothing wrong in doing that, but that is not what Bitcoin is all about, or why the EU and other governments are all over the place trying to dissuade people from using Bitcoin, i will tell you why: Bitcoin is completely decentralized, it is censorship resistant, it is all about freedom and control, no body/organization/government can print it or attain precedence over it, and a whole lot more, the government do not like all that, that is why there has always been so much fuss about it, but of course it won't yield anything.

Now to the speculators you claim are unhappy with Bitcoins price movement and all, the thing is this: they should make sure to do their research before investing (or rather, speculating) in any asset, Bitcoin is not a get-rich-quick scheme, and if you choose to speculate on its price, you will have to hold for the long term, if you want to try your luck in getting rich quick, then there are thousands of pump and dump altcoins, and well goodluck with them (cause you'll definitely need it).

[Welsh]

Means nothing, a lot of them probably talk about all sorts of outlandish crap behind the scenes, in fact they talk about it quite openly to the public too .

With a bit of luck, the debate is past that, although it goes to show how some brilliant minds work.

Probably isn't. I mean you only have to take this into consideration to know that there will be certain people within which will be pushing this idea, and therefore there will likely be quite a few meetings about this in the future, which will likely have an effect on adoption. Although, it will likely effect investors confidence in the short term, I do believe these types of meetings might just bring more eyes on Bitcoin, which could potentially be of benefit to us.

I don't think they'll ever be able to justify banning it.

[mildmanneredsuffering]

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You're making multiple insubstantial posts in a row, so let us start from there, mind you it is against the rules here. You can merge all of them in one single post mate.

As for the contents of your post, i honestly do not get your point, Bitcoin is volatile, and the 'people' you're talking about who bought Bitcoin and bla, bla, bla didn't make profits are speculators who are speculating on the price of Bitcoin, there is nothing wrong in doing that, but that is not what Bitcoin is all about, or why the EU and other governments are all over the place trying to dissuade people from using Bitcoin, i will tell you why: Bitcoin is completely decentralized, it is censorship resistant, it is all about freedom and control, no body/organization/government can print it or attain precedence over it, and a whole lot more, the government do not like all that, that is why there has always been so much fuss about it, but of course it won't yield anything.

Now to the speculators you claim are unhappy with Bitcoins price movement and all, the thing is this: they should make sure to do their research before investing (or rather, speculating) in any asset, Bitcoin is not a get-rich-quick scheme, and if you choose to speculate on its price, you will have to hold for the long term, if you want to try your luck in getting rich quick, then there are thousands of pump and dump altcoins, and well goodluck with them (cause you'll definitely need it).

ok great, bticoin guys like to censor for "bad bulletin board etiquette" got it. haha no one thinks bitcoin is get rich quick. everyone I know personally knows bitcoin is generally falling most of the time. When I talk to people about crypto its always the same thing on each day it comes up, oh ya bitcoin going down again. they know me for years and always only the same reply.

here is what is happeneing. bitcoin generally falls, then has very short runs upward, then begins its usual pattern of falling. anyone who buys to trade loses money, anyone who buys for short term holding loses money, then anthon pompliano or adam back come out and say how much they made with bitcoins meteor rise. then people think ok that sounds great they buy, btc continues its usual falling pattern, the guy loses money and sayas fuck this. So then you have organized crime and silly societies who tell each other what is the plan for dropping and raising. same halfwit goons as wall street scams. mike novogratz at the regis celebrating the 2008 crash dressed in drag. those same kikes robbing people everyday

[ivankoh]

Looking at the history, negative market sentiment was temporary in some period of time importance, if you give up easily in the face of government pressure/bullshit regulation just to offset the pre-existing economic interests as a deterrent then it is basically impossible to understand bitcoin and so you get nothing out of bitcoin.  Fight and win - that's the true intrinsic of bitcoin.

[BADecker]

"Behind closed doors, EU officials talk about banning Bitcoin"


Notice the "behind closed doors" part. Everybody knows that banning crypto is really banning yourself. That's why they are doing it behind closed doors... trying to figure out a way to not ban themselves at the same time they ban crypto.

[mildmanneredsuffering]

"Behind closed doors, EU officials talk about banning Bitcoin"


Notice the "behind closed doors" part. Everybody knows that banning crypto is really banning yourself. That's why they are doing it behind closed doors... trying to figure out a way to not ban themselves at the same time they ban crypto.

bitcoin in itself is unbannable. the ramps are.  encrypted blockchain is revolutionary in its economic power. btc is fuckery and frog boiling,  mostly off chain