4 ms·

Bitcoin is worth something exactly because of people like Lagarde. It is our insurance against them.

by loxs 4y ago

iqkznnft 4y ago
My favorite thing about these kind of statement, is seeing cryptobros reeeeeeeeing.
- rvz 4y ago
  It is the other way round. The 'crypto-bros' are actually laughing at her as she is the one 'reeeeing' because she and the ECB knows that they cannot stop all of them and their only option is to put in regulations for tolerating a few compliant crypto assets. For absolutist statements like her's, the only reason they are doing that is to promote their own digital euro in the form of a CBDC, which is good timing when a crash in the crypto markets happen.
  - iqkznnft 4y ago
    I don't get it. What is a "digital euro"? Aren't most euros already digital?
- loxs 4y ago
  When you see cryptobros reeing, it's a great opportunity to buy a little, so that you don't drool on the sides during the next run.
rpastuszak 4y ago
> It is our insurance against them. How?
- deleted 4y ago
  [deleted]
- loxs 4y ago
  They can't block your crypto account/wallet like they did with bank accounts in Greece, Cyprus, Iceland etc. https://en.wikipedia.org/wiki/Capital_controls_in_Greece https://en.wikipedia.org/wiki/Capital_controls_in_Greece Even only this is enough, but there are many more ways this insurance works.
  - kd913 4y ago
    Ahh the continued bs that any of this junk is decentralized. 99% of this junk operates within centralized exchanges who can be forced to close it down and have a disproportionate level of influence on the currency itself. It can be, and may do so under extremely small volumes, but the vast majority of people interact with this in a centralized fashion.
    - loxs 4y ago
      Yeah, it can hurt the price (as the implosion of LUNA/UST did). Of course. Will it obliterate it? I really doubt it. The main case (to resist the government) will even be strengthened if such a thing happens.

4 ms·

Bitcoin is worth something exactly because of people like Lagarde. It is our insurance against them.

by loxs 4y ago

Bitcoin is worth something exactly because of people like Lagarde. It is our insurance against them.

iqkznnft 4y ago
My favorite thing about these kind of statement, is seeing cryptobros reeeeeeeeing.
- rvz 4y ago
  It is the other way round. The 'crypto-bros' are actually laughing at her as she is the one 'reeeeing' because she and the ECB knows that they cannot stop all of them and their only option is to put in regulations for tolerating a few compliant crypto assets. For absolutist statements like her's, the only reason they are doing that is to promote their own digital euro in the form of a CBDC, which is good timing when a crash in the crypto markets happen.
  - iqkznnft 4y ago
    I don't get it. What is a "digital euro"? Aren't most euros already digital?
- loxs 4y ago
  When you see cryptobros reeing, it's a great opportunity to buy a little, so that you don't drool on the sides during the next run.
rpastuszak 4y ago
> It is our insurance against them. How?
- deleted 4y ago
  [deleted]
- loxs 4y ago
  They can't block your crypto account/wallet like they did with bank accounts in Greece, Cyprus, Iceland etc. https://en.wikipedia.org/wiki/Capital_controls_in_Greece https://en.wikipedia.org/wiki/Capital_controls_in_Greece Even only this is enough, but there are many more ways this insurance works.
  - kd913 4y ago
    Ahh the continued bs that any of this junk is decentralized. 99% of this junk operates within centralized exchanges who can be forced to close it down and have a disproportionate level of influence on the currency itself. It can be, and may do so under extremely small volumes, but the vast majority of people interact with this in a centralized fashion.
    - loxs 4y ago
      Yeah, it can hurt the price (as the implosion of LUNA/UST did). Of course. Will it obliterate it? I really doubt it. The main case (to resist the government) will even be strengthened if such a thing happens.