Bitcoin's Last Stand

[Lillominato89]

i prefer paying with my smartphone or a watch , this is the "new" way.

My understanding, barter is the most ancient trade method in the world, not something new.

I don't think he means giving a smartphone in exchange for a service, but rather, using your phone like a credit card, via something like Apple Pay or Google Pay. It'll forward the payment to your card.

exactly, he means just that. These new payment methods make me paranoid! you never know if you are truly safe from fraud, especially when your device is stolen. better to use other types of payments, perhaps with something that gives you more security and control of your finances

[sstephan]

exactly, he means just that. These new payment methods make me paranoid! you never know if you are truly safe from fraud, especially when your device is stolen. better to use other types of payments, perhaps with something that gives you more security and control of your finances

if you lock your phone with a fingerprint or a password and it gets stolen , it can be used only for parts .
45million people used apple pay in us in 2022 . how many used bitcoin ?


i don't know how credit card security works in every country , in my case i  was scammed 2 times on ebay , seller sent empty package / wrong items and my credit card company always returned me whatever (while paypal didn't) i payed and dealt with the seller in their own way (even though it was international purchase) .

[darkangel11]

There are two things you can address here. One is the authors of the article who are involved with the ECB. For many years banks have criticized bitcoin so this is nothing new, but ECB is especially eager to do it now because the EURO is failing and they think a CBDC can save them. That's why they were running this narrative of bitcoin being bad for the environment in 2021 and now the drop in price gave them a bunch of new ammo to shoot.

The second think we can address is the article itself which is lying to readers about bitcoin not being used for significant legal transactions. People have been trading real estate, gold, cars, boats and many other things for bitcoin and there were literally hundreds of big purchases done over the last 10 years.

Then they repeat the environmental narrative, but forget to mention that it's the ECB that produced billions of EUR fiat currency that is losing value since its creation and is facing the highest inflation in its history. Since it was established EUR had an inflation of around 2% and in 2022 it went to 10% with ECB not being able to do anything about it. They must be running scared in this institution right now and looking for scapegoats. Sure bitcoin went down 70% but it only lost what it gained in the last 2 years. The Euro lost what it always had. It used to be a stable currency with low, constant inflation rate and it lost that. It can be compared to a stable coin losing its peg. While Bitcoin is back to the spot price from 2020, the Euro is down to where it's never been before. It even briefly crashed below the USD.

Spreading FUD that bitcoin isn't used, is a ponzi scheme and uses too much energy is such an old strategy. I'd expect something new from these guys after all the se years.

[countryfree]

With so much inflation in the €-zone, the ECB needs to talk about something else, only to divert the attention.
How about the huge budget deficits most European countries are now facing?
Is it normal if the ECB prints money like there's no tomorrow?

We shall remember the guy who wrote this post was paid to do so. It's his job to defend the €, and to convince people it's a strong currency with a great future (LOL). Meanwhile, I see on this board thousands of folks defending BTC for free.

[franky1]

ok im not into memes but the childish arguments in the ECB report do deserve a childish reply to get down to their level of understanding

bitcoins last stand is true. because just standing around is just staying at ground level.
bitcoins last stand because bitcoin..

[Osama Maaz]

This one I agree, despite of his reasoning, Promotion of Bitcoin expose banks of its shortcomings and how they cheat their client so YES! Promoting Bitcoin bears a reputational risk for banks because they will be exposed of their fraud.

All in all the writer is obviously anti-Bitcoin but his explanation on the selected topic to convince people are all moot.  So what is your take on the subject of discussion?  Do You agree with what the author stated?


[1] THE ECB BLOG | Bitcoin’s last stand

As all we knows that BANKS are afraid of crypto because of decentralized nature and transparency , We dont know how banks treat our money but in crypto its not possible because everyone have their own wallet and power of controls our funds , transactions , .
As a result they make excuses but nothing will crypto the future of finance .

[franky1]

banks are not worried in ways some people think

when you swap your fiat for bitcoin. someone else is getting that fiat. meaning that the fiat still exists in someones bank account. thus no loss to banks there. its a simple swap of fiat account

its when its used cross borders, which usually means that banks can make money on forex changing currencies but instead they are just housing dollar locally and it staying in dollars thus not making them any profits

as for bitcoins deflation. if people can save a house deposit(10%) amount in bitcoin. and it deflates to a large amount(10x) to cover purchasing the house outright(100%). again banks cant offer inflationary loans thus cant make money here either

they are not afraid that bitcoin is a payment system or a value store. they are afraid of the cross border deflation aspects which they can compete against