Source: https://www.linkedin.com/feed/update/urn%3Ali%3AugcPost%3A7003965041842540545
European Central Bank How Bitcoin Lost Its Relevance: https://lnkd.in/gJ9qwkun : BlackRock CEO: Most Crypto Firms Will Fold https://lnkd.in/g7JApEPQ : https://lnkd.in/g_7-2ndN :
• Bitcoin is rarely used for #legal #transactions:
Bitcoin is also not suitable as an #investment. It does not generate #cash #flow (like #realestate) or #dividends (like #equities), cannot be used productively (like #commodities) or provide social benefits (like #gold). The #market #valuation of Bitcoin is therefore based PURELY on #speculation.
• #Regulation can be misunderstood as approval
• Promoting #Bitcoin bears a #reputational #risk for banks
Since Bitcoin appears to be neither suitable as a #payment #system nor as a form of #investment, it should be treated as neither in #regulatory terms and thus should not be legitimised.
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Bitcoin was created to overcome the existing monetary and financial system.:
Bitcoin was NOT created to overcome the existing monetary and financial system as evident from the attached paper, which may as well have been written by the #NSA. In fact, many of Bitcoin #influencers have created a #DIGITAL #DISTORTION of what Bitcoin was created for — as a specific technical #cryptographic #solution, #blockchain, to address a specific technical #economic #accounting problem, #doublespending — by riding on non-existing #SatoshiNakamoto’s coattails – as clear from his attached paper.
Read our technical reports-interviews to know what Bitcoin was created for, who created it & its cyber-crypto-encryption vulnerabilities.
[Related: Tor’s #cyber-#crypto #vulnerabilities: https://lnkd.in/eJPrYrM%5D
• Our World’s First Technical #Report on Bitcoin #Blockchain PoW #Cyber #Crypto #Vulnerabilities, #Attacks, #Hacks, December 04, 2013: https://lnkd.in/ePsDYDK :
This research report represents the first known attempt with specific #technical focus on #cryptographic #ProofOfWork’ in the context of virtual #cryptocurrencies such as #Bitcoin. The #cryptography, #encryption and #cryptanalysis technical focus of the report is intentional and related to Bitcoin’s innovative capabilities, #vulnerabilities and #threats.
• Our World’s First #Interview on #Quantitative #Probabilistic, #Statistical & #Numerical Methods Underlying Bitcoin Blockchain, January 20, 2014: https://lnkd.in/efcwAnD .
• We Asked: #Questions arise about the #Intrinsic #Value of ALL #Cryptocurrencies. Do they have ANY #real #value in terms of #Real #Money such as #US #Dollar? https://lnkd.in/gvXH_mBU
• New York Fed to advance #research on #asset #tokenization and the future of #financial #market #infrastructures https://lnkd.in/gV4nAw3A
• #Crypto Might Have an #Insider #Trading #Problem: https://lnkd.in/g_BTAQXt
• Calling a #Super #Bubble: https://lnkd.in/gXnyQvXs
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