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An ECB Board Member Attacks Bitcoin, Says It ‘Does Not Fulfill the Basic Properties of Money’

An ECB Board Member Attacks Bitcoin, Says It ‘Does Not Fulfill the Basic Properties of Money’



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  1. Know what else doesn’t fulfill the basic properties of money? Having a medium of exchange based solely on “the faith and credit” of a government. You could have held $1000 in bills since 2013 and $1000 in bitcoin. Think it goes without saying which was the better choice.

  2. tldr; ECB board member Isabel Schnabel has said it’s wrong to call bitcoin a currency. She added that it’s a “speculative asset without any recognizable fundamental value and is subject to massive price swings.” Schnabel also said that trust in cryptocurrencies might rapidly evaporate, causing “disruptions in financial markets.”

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

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