Ponzi and gambling, really? – If there is indeed a constant in the universe of Bitcoin (BTC) and cryptocurrencies decentralized, is that central bankers hate them. Of the Bank of France up to the central bank of india, the invention of Satoshi Nakamoto and its descendants are hated by the big money makers. It is therefore without the slightest originality that the Central Bank of Ireland do the same.
The constant refrain of central bankers: Bitcoin, nothing but a Ponzi
The privilege of minting coins (even ofprint tons) is not shared, faith of central banker, and even less with Bitcoin. In this case, it is the governor of the Central Bank of Ireland (CBI) who comes to confirm it to us once again.
The head of the Irish central bank, Gabriel Makhlouf, spoke to lawmakers on the Finance Committee, this Wednesday, January 25, 2023. He urged them to take swift action (again) against crypto-assets. More specifically, Gabriel Makhlouf asks the members of this parliamentary committee to simply prohibit the promotion cryptocurrencies:
“There are quite a number of young adults who have put their money into cryptocurrency, and there is an uncomfortable level of advertising aimed at that demographic. If you could find a way to do that, I would recommend that ads aimed at this population be banned. (…) Non-backed cryptocurrencies [à des devises fiduciaires] are essentially a Ponzi scheme. »
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Bitcoin: a simple game of chance according to the Central Bank of Ireland
Bringing out an amalgam and an enormity, grouping Bitcoin and all cryptocurrencies like a vulgar pyramid scheme, was not enough for our central banker. Indeed, Gabriel Makhlouf then describes this new class of assets as ” game of chance “ (gambling) :
“People who put their money in an unbacked cryptocurrency [à des devises fiduciaires] (…) essentially play a game of chance. (…) When you bet on a gambling game, you can win. But most of the time when you make such bets, you are actually losing. »
At this price, why make a bet on actions of companies, raw materials or some real estate would not also stupidly be assimilated to games of chance? Is the gain guaranteed in these cases? It does not seem to us. Even states have defaulted on their debt in history. The state bonds would also be a game of money suddenly, right?
It is in any case curious to see how this requirement of the head of the Irish Central Bank is close of one recent bill presented to the French National Assembly. In fact, barely a few weeks ago, the members of the Socialist Group tabled a text aiming to outright prohibit any promotion digital assets on social networks. Would these quasi-coordinated attacks aim to make Bitcoin and cryptos invisible? to slow their adoption ?
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