The ECB says hodlers are extracting wealth from others
71 sats \ 6 comments \ @stack_harder 20 Oct bitcoin
have you guys seen this garbage?
The ECB dropped a report called The distributional consequences of Bitcoin (https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4985877) basically saying that if Bitcoin appreciates in value then those owning it are maliciously extracting wealth from others.
this is absolutely peak clown world
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32 sats \ 0 replies \ @TomK 20 Oct
Do you imagine that there is even one person in the ranks of the European Central Bank with a functioning brain cell who at this moment comes up with the idea: if this is how Bitcoin is now, why don't we buy it with our own shitcoin and then drive the herd into the price in order to deleverage ourselves in this way? Anything is possible in this universe, even that a rotten institution like the ECB will one day discover its survival instinct.
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0 sats \ 0 replies \ @RoundaboutStacker 20 Oct
Imagine of the founders of startups where told they are extracting wealth from others?
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0 sats \ 0 replies \ @nym 20 Oct
That is the dumbest thing I've heard today.
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0 sats \ 0 replies \ @OriginalSize 20 Oct
I'd like to thank all the others for succumbing to my brilliant wealth extraction plan. See it all starts with buying Bitcoin and then... And then nothing!
/that's the whole plan
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0 sats \ 0 replies \ @standard_sats 20 Oct
Look for same names on the same website. You will find out they have a track record of such publications already.
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0 sats \ 0 replies \ @OgFOMK 20 Oct
For them it is an honest introspective paper. From their point of view and their RELIGION of money (one+eye). It is correct. However the intent of Bitcoin is still pure and resilient as it is even unnecessary to have second later solutions as long as those denominating value agree on settlement and settlement is where Bitcoin shines above all the rest of currency cartels.
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