“Panic is rising. Bitcoin, the way out of their giant Ponzi scheme, does not want to die, but the survival of the fiat system depends on the lack of an alternative. The entire system is therefore in danger.” — Alexandre Stachtchenko

The European Central Bank (ECB) has released another lengthy “research” paper, this time 20 pages long, warning of the economic dangers of a potential future where Bitcoin continues to exist.

The same authors who have long dismissed Bitcoin as a worthless, doomed bubble are at it again, spewing more nonsense. However, as Bitcoin refuses to burst and continues to thrive, it's the ECB's own credibility that's taking a hit.

Beneath the paper's blatant intellectual dishonesty, is the ECB inadvertently conceding a crucial point?

Are they, despite their best efforts to conceal it, acknowledging that Bitcoin might have some value after all?

Does their writing betray a sense of desperation, a growing unease that their anti-Bitcoin rhetoric is no longer convincing?

Great read:
The Great Capitulation
https://medium.com/@AlexStach/the-great-capitulation-a738a2969116