The post ECB’s Attack on Bitcoin Backfires! Here’s Why Experts Are Furious appeared first on Coinpedia Fintech News
A group of researchers, Dr. Murray A. Rudd, Dennis Porter, Allen Farrington, and Freddie New (from Satoshi Action Education, Axiom and Bitcoin Policy UK) has strongly denounced a European Central Bank paper, that criticized the viability and economic impact of Bitcoin. The development has triggered a discussion on the matter. Let’s try to understand the scenario!
Bitcoin Criticised by ECB: Key Concerns
The ECB report leveled several serious allegations against Bitcoin. It dismissed Bitcoin as a mere speculative asset lacking intrinsic value. It also presented Bitcoin as a tool for wealth concentration. Additionally, it questioned the ability of BTC to boost economic productivity.
Researchers Defend Bitcoin’s Purpose and Value
The researchers have challenged all the arguments made by the ECB against Bitcoin.
To counter the ECS’s wealth conc
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