Double Attack on [#Bitcoin](/t/Bitcoin) from the ECB and the FED.

The synchronicity with which the ECB and the Federal Reserve attempt to discredit Bitcoin with two new papers—filled with arguments as strategic as they are fragile—is curious.

ECB: In the document titled “The Distributive Effects of Bitcoin,” Ulrich Bindseil and Jürgen Schaaf assert that “Bitcoin does not increase the productive potential of the economy.” They go on to claim that Bitcoin’s alleged value stems solely from “speculation,” which is bound to “benefit early entrants at the expense of newcomers.” 
Basically, Bindseil and Schaaf have discovered the wonderful world of supply and demand dynamics within that mysterious entity called “the market”—perhaps too complex to grasp for those dreaming of a Soviet-style economy.

FED: The Federal Reserve of Minneapolis doubles down in their paper “Unique Implementation of Permanent Primary Deficits?” suggesting that if Bitcoin became widespread, the government would no longer be able to generate deficits. “The government could simply make Bitcoin illegal.”

The fallacies in the arguments of the money monopolists are addressed in a counter-paper that debunks the arguments from Frankfurt point by point.

The new edition of [#BitcoinTrain](/t/BitcoinTrain) is now online!


nostr:naddr1qvzqqqr4gupzqx67uaxlruf7hpw4f5mtcxdyrq85fn56em4696s3p7020xa34tnwqy2hwumn8ghj7mn0wd68ytn00p68ytnyv4mz7qg4waehxw309aex2mrp0yhxummnw3ezucn89uq3wamnwvaz7tmjv4kxz7fwwpexjmtpdshxuet59uq35amnwvaz7tmwdaehgu3wvdjhycmpw3ex7anp9ekk2tcppemhxue69uhkummn9ekx7mp0qqj4g6r994fhwctw94fk7mn894hkvt2rv4h8gunpdsk5yctwddej6v3sde4k2vcagamdm

https://highlighter.com/a/naddr1qvzqqqr4gupzqx67uaxlruf7hpw4f5mtcxdyrq85fn56em4696s3p7020xa34tnwqy2hwumn8ghj7mn0wd68ytn00p68ytnyv4mz7qp9235x2t2nwaskut2ndahxwtt0vck5xetww3exzmpdgfsku6mn95erqmntv5esz7un0w