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Monthly Archives: August 2017

Why Does The European Central Bank Not Like Bitcoin?

The virtual currency Bitcoin, which has experienced a considerable upturn in recent months, is described by the European Central Bank as a “reputation damaging”. But is this the real reason behind rejection?

The European Central Bank, which is headquartered in Frankfurt, has repeatedly expressed a very negative opinion about Bitcoin. It ruins the good reputation of the central banks, which have to determine over currencies. Like a naughty child, the bitcoin is seen by the ECB, a child that leads a considerable life that the banks can not really control. Is it really about the reputation here, or is it not rather that the Bitcoin is a real competition with other currencies, which have not been all necessarily as a personification of stability?

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The evil Bitcoin versus the good national currency

The Bitcoin as the first virtual currency, which has reached a supra-regional importance, is viewed with great mistrust. The success of the bitcoin is too great, and it could intensify. Two systems are opposed to this, namely the established classical banks, which traditionally have a monopoly on the issuance of banknotes and coins, and a system that undoubtedly undermines this monopoly. And, worse, it looks like the Bitcoin is in many cases the healthier currency. For a long time, we have been living in a crisis situation with corresponding inflation values. How much is a coin or banknote worth? And tomorrow?

Counterfeit-proof – another plus

The euro and dollar bills, which are not necessarily counterfeit, also show that the “real” money that the banks are proud to publish is not even real. In some cities, Falkengeld runs around like, well, Falkengeld. Bitcoin is a currency that counts among the safest currencies when certain safeguards and secrecy rules are observed. It is now only a certain number of bitcoins produced, no over offer at “rags”, which inevitably lose their value. Oh, where is the monopoly of the banks, if every cunning copier can produce the defended products in the local workshop? Who can determine who has a reputation, and who defends it?