There was a lot of news! In summary, the following is important: 1. the Bitcoin reserve consists of stocks that have been confiscated from penalty stocks. Bitcoin will continue to be purchased, long-term and without burdening the taxpayer. 2) All other coins, such as Cardano and Ethereum, only come from penalty stocks and are not purchased further. This means that a clear distinction is made between Bitcoin and altcoins.
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@PalmPirateTechnocrate see my post from this morning :)
https://getqu.in/Mwg7KU/
That's incredibly bullish, that's exactly how I see it. But all the information was already known beforehand and the summit itself was unspectacular.
https://getqu.in/Mwg7KU/
That's incredibly bullish, that's exactly how I see it. But all the information was already known beforehand and the summit itself was unspectacular.
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10H
@stefan_21 totally bullish ? I see a free fall since this morning....
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•@Tokugawa The market is currently very uncertain. I also think that the impact of the startegic Bitcoin Reserve in the US is being underestimated :)
It couldn't be much more bullish than it is at the moment... as the price is going in a different direction, this is a clear buy opportunity for me.
It couldn't be much more bullish than it is at the moment... as the price is going in a different direction, this is a clear buy opportunity for me.
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@stefan_21 Jo, I also clicked buy 3x again today with falling prices + daily savings plan 🥳
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•@Ash The EU wants to introduce the digital euro as CBDC in October.
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@PalmPirateTechnocrate I read that too, but what are you trying to tell me with that reference?
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The fact that the US Reserve is reacting cautiously as a result, perhaps Lagarde will ban Bitcoin.
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@PalmPirateTechnocrate In my opinion, the announcement of a CBDC by Christine Lagarde is not the reason for the current fall in the price of Bitcoin. Rather, I assume that the market reaction is due to the executive order, which, however, contained nothing surprising. Everything in it had already been announced in advance and, in my opinion, had long been priced in.
What particularly strikes me is that many mainstream media outlets are misrepresenting or misunderstanding the contents of the EO. I have often read that journalists continue to conflate Bitcoin with the general "crypto" sector, even though the regulation makes a clear distinction here. This misinformation could fuel uncertainty and cause short-term volatility, even though nothing has changed in the fundamental framework for Bitcoin.
And Christine Lagarde cannot ban Bitcoin, as she has no legislative power as ECB President. A ban would have to be decided politically at EU or national level, but would be difficult to enforce.
Bitcoin is decentralized and functions independently of state control. Even with restrictions on banks or exchanges, it could continue to be traded peer-to-peer.
Lagarde can therefore criticize Bitcoin, but neither ban nor abolish it.
What particularly strikes me is that many mainstream media outlets are misrepresenting or misunderstanding the contents of the EO. I have often read that journalists continue to conflate Bitcoin with the general "crypto" sector, even though the regulation makes a clear distinction here. This misinformation could fuel uncertainty and cause short-term volatility, even though nothing has changed in the fundamental framework for Bitcoin.
And Christine Lagarde cannot ban Bitcoin, as she has no legislative power as ECB President. A ban would have to be decided politically at EU or national level, but would be difficult to enforce.
Bitcoin is decentralized and functions independently of state control. Even with restrictions on banks or exchanges, it could continue to be traded peer-to-peer.
Lagarde can therefore criticize Bitcoin, but neither ban nor abolish it.
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•@Ash I bought again today... But I'm slowly running out of free cash... the rest is blocked for several trips this year - if I move it into Bitcoin now, I'll have a problem with my girlfriend😂
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•@Ash absolutely right :)
Above all, cash and banking will not be abolished... First comes the digital euro as a payment alternative.
I just hope that it either doesn't come at all because the ECB screws it up or, if it does, that people don't use it. Such programmable, centralized money harbors great dangers.
But it will only get bad if cash is abolished and all banking transactions are processed via the CBDC. But that's a utopia that I don't even want to think about.
@PalmPirateTechnocrate Ms. Lagarde cannot ban Bitcoin. But there would be no reason to - after all, according to the experts at the ECB, Bitcoin is on its way to Irrelevanz🤷♂️😂
Above all, cash and banking will not be abolished... First comes the digital euro as a payment alternative.
I just hope that it either doesn't come at all because the ECB screws it up or, if it does, that people don't use it. Such programmable, centralized money harbors great dangers.
But it will only get bad if cash is abolished and all banking transactions are processed via the CBDC. But that's a utopia that I don't even want to think about.
@PalmPirateTechnocrate Ms. Lagarde cannot ban Bitcoin. But there would be no reason to - after all, according to the experts at the ECB, Bitcoin is on its way to Irrelevanz🤷♂️😂
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