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The European Central Bank says that bitcoin is “rarely used for legal transactions” and is on the “road to irrelevance”, without citing any strong data points

European Central Bank officials alleged on Wednesday that bitcoin is “rarely used for legal transactions …

TechCrunch Manish Singh

Discussion

  • @ecb @ecb on x
    The apparent stabilisation of bitcoin's value is likely to be an artificially induced last gasp before the crypto-asset embarks on a road to irrelevance. #TheECBblog looks at where bitcoin stands amid widespread volatility in the crypto markets. Read more https://www.ecb.europa.e…
  • @katie_martin_fx Katie Martin on x
    seems to be in Team ‘Let Crypto Burn’ really going honeybadger here https://twitter.com/...
  • @joel_john95 Joel John on x
    The European Central bank (@ecb) covered Bitcoin on their blog today. It said bitcoin is 'rarely used" for “legal” transactions. But offered no statistic to back it. So went down the rabbithole. Time for some numbers ☕️ https://twitter.com/...
  • @thestalwart Joe Weisenthal on x
    “TLDR: The ECB wants to buy your Bitcoins on the cheap.” 🗨️ 50 🔁 900 ❤️ 3345
  • @ben_mckenzie Ben McKenzie on x
    Yes, but only if @Tether_to is actually brought to justice. You know, the company with deep ties to Italy, one of your member states @ecb https://twitter.com/...
  • @notgrubles @notgrubles on x
    Did they just post this during record inflation...? https://twitter.com/...
  • @loic Loic Le Meur on x
    Since @FTX_Official stole mine I don't have to worry about it anymore https://twitter.com/...
  • @loopifyyy @loopifyyy on x
    in other words: bitcoin takes away power and control from us, please do not help it grow https://twitter.com/...
  • @nvk @nvk on x
    Imagine being the size of the ECB and have to keep addressing something as small as bitcoin all the time. Cope harder. https://twitter.com/...
  • @autismcapital @autismcapital on x
    This is the real European Central Bank twitter account. This is not satire. https://t.co/eZwlkXWvmF
  • @mayhem4markets @mayhem4markets on x
    Shots fired! ECB says bitcoin is headed toward irrelevance. 😂 https://twitter.com/...
  • @thestalwart Joe Weisenthal on x
    Setting aside the ECB's Bitcoin price prediction, I think this is spot on. Basically all of crypto is predicted on this logic, that because of Satoshi's innovation in computer science, that it's only a matter of time before people find something that it must be good for. https://…
  • @ryan_browne_ Ryan Browne on x
    Really strong words from the ECB on #bitcoin here. The central bank says BTC's recent price increase is likely an “artificially induced last gasp before the road to irrelevance.” https://www.ecb.europa.eu/...
  • @wintonark Brett Winton on x
    Today in central banking and irrelevance https://twitter.com/...
  • @thestalwart Joe Weisenthal on x
    Looking forward to the Bitcoin community's measured and civil response to this https://twitter.com/...
  • @udiwertheimer Udi Wertheimer on x
    @ecb The apparent stabilisation of THE EUROZONE is likely to be an artificially induced last gasp before the continent embarks on a road to irrelevance. #TheUdiverse looks at where europoors stand amid widespread volatility in the global markets.
  • @storagezilla Mark Twomey on x
    We'll see. https://www.ecb.europa.eu/...
  • @paulbuitink Paul Buitink on x
    Spend more time fixing your own coin please. https://twitter.com/...
  • @sytaylor Simon Taylor on x
    ... wow https://twitter.com/...
  • @loomdart @loomdart on x
    man https://twitter.com/...
  • @mtmalinen Tuomas Malinen on x
    First, I thought this was a parody account, but no. This is a pure propaganda piece from the @ecb , attack against economic freedom, what the #CentralBanks are currently waging. You failed 🫵. Now it's our responsibility to create whatever monetary system we like.😤 #Bitcoin https:…
  • @btc_archive @btc_archive on x
    Bitcoin will be around long after the ECB has disappeared. https://twitter.com/...
  • @smtuffy Sean Tuffy on x
    🔥🔥🔥 https://twitter.com/...
  • @mdudas Mike Dudas on x
    jUsT iMaGiNe IrReLaVaNcE https://twitter.com/... https://twitter.com/...
  • @lefterisjp @lefterisjp on x
    - Jürgen the ECB has one of the worst crisis since its inception. - Don't worry Ulrich let's write something about Bitcoin to divert attention from our failures. Works every time. https://twitter.com/... https://twitter.com/...
  • @smtuffy Sean Tuffy on x
    I see the ECB has chosen violence this morning https://twitter.com/...
  • @katie_martin_fx Katie Martin on x
    ECB not pulling its punches here. - Bitcoin is rarely used for legal transactions - Regulation can be misunderstood as approval - Promoting Bitcoin bears a reputational risk for banks https://twitter.com/...
  • @alistairmilne Alistair Milne on x
    Most bullish thing I've seen all year https://twitter.com/...