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[aryan4]

Isabel Schnabel, a German member of the ECB (European Central Bank) board of directors, made some evaluations about Bitcoin in her interview with Der Spiegel. In her statements, she said that Bitcoin has none of the basic currency features, and that Bitcoin is just a speculative asset. In the continuation of her statements, she said that Bitcoin is very fragile.
What do you think about what this official said?

 

[Josemendez]

I guess she is just not informed about the potential of bitcoin .many people have seen this potential ,yet she is still in ignorance of this fact

 

[Niftyicon]

I think she chose the wrong words. I would rather pick volatile over fragile and about being speculative, she should ask those who have become millionaires thanks to their btc investments.

 

[Josemendez]

I think she chose the wrong words. I would rather pick volatile over fragile and about being speculative, she should ask those who have become millionaires thanks to their btc investments.

I think , this is an evidence that she has not been following what is happening in the world of cryptocurrency over sometime. He shouldn't have said so ,if she has.

 

[ELSA-ELI]

In reality yes that is what we can term btc and cryptocurrency but if the speculative nature makes an asset worthwhile, I mean the asset despite being intangible and not bondable in any federal reserve has exhibited resilience and bankable features for over a year then one can invest in it.So we agree to her sentiment but that does not demerit the fact the it's helped a lot earn billions in profit hence making it one of the most lucrative asset.

 

[CrazySher]

Isabel Schnabel, a German member of the ECB (European Central Bank) board of directors, made some evaluations about Bitcoin in her interview with Der Spiegel. In her statements, she said that Bitcoin has none of the basic currency features, and that Bitcoin is just a speculative asset. In the continuation of her statements, she said that Bitcoin is very fragile.
What do you think about what this official said?

Yes, his opinion is half right, it lacks a basic currency feature, as it is not physical and nor stable. So it is not a regular currency at all rather that it is a asset like gold, in which we invest and earn profit, while we can't invest on paper currency, neither their value increases.

But if we talk about the potentiality of Bitcoin then it have a great potentiality to become the king of all investment able asset.

 

[Josemendez]

while we can't invest on paper currency, neither their value increases.

Actually , paper currency can be used for investment such as fixed deposit , which gives return at the end of the stipulated period . The difference is in volatility .

 

[SCAMEXPOSER]

In reality yes that is what we can term btc and cryptocurrency but if the speculative nature makes an asset worthwhile, I mean the asset despite being intangible and not bondable in any federal reserve has exhibited resilience and bankable features for over a year then one can invest in it.So we agree to her sentiment but that does not demerit the fact the it's helped a lot earn billions in profit hence making it one of the most lucrative asset.

I kind of agree with you because bitcoin is actually not currency or a country currency but a tradable assets with a very tangible value that has built a very strong structure.

 

[ELSA-ELI]

No doubt to that we have seen btc rise to stardom in as far as the financial world us concerned. It is indeed a bankable asset that is worth investing in.

 

[SCAMEXPOSER]

No doubt to that we have seen btc rise to stardom in as far as the financial world us concerned. It is indeed a bankable asset that is worth investing in.

Yeah , people should consider more of investable asset with huge opportunities instead of comparing to country currencies.

 

[aryan4]

Central banks' views on Bitcoin are almost always the same, they do not look favorably. They don't like it because they can't control it and I guess they will not like it because they can never control Bitcoin.

 

[Josemendez]

Central banks' views on Bitcoin are almost always the same, they do not look favorably. They don't like it because they can't control it and I guess they will not like it because they can never control Bitcoin.

Actually some central banks of few countries are currently benefiting from it ,because they have regulated it. Thereby satisfying themselves and the citizens

 

[SCAMEXPOSER]

The numerous central bank across the globe has a committee on policy implementation and advisory role too so it is not new that they share similar sentiment or opinion

 

[achawaskey]

Bitcoin does not have any basic features of currency, and yet it is doing well in the market more than some flat currency. On the aspect of fragile, that is how it suppose to be because it involves buying and selling.

 

[Wisdom01]

I think she is probably not well informed about bitcoin, if she knows the good features bitcoin have , she won't make such kind of statements

 

[LutherKing]

Well he is an informed person and he made an correct assessment , I agree its just a monopoly and centralized control monopoly for advantage of rich to make money of people

 

[SCAMEXPOSER]

Initially I also see Bitcoin as tradable assets but now that El-Salvador has made it a legal tender let us keep watching how the use of it as legal tender will play out.

 

[Josemendez]

Initially I also see Bitcoin as tradable assets but now that El-Salvador has made it a legal tender let us keep watching how the use of it as legal tender will play out.

I don't think it will play out that much because of the volatile nature of bitcoin and the need for learning it in order to be able to use it .

 

[LutherKing]

Exactly , learning will not be that much difficult , but legality would be , you can't fix the price of bitcoin vs standard USD , let's watch what happens next

 

[SCAMEXPOSER]

Probably if El-Salvador is able to sustain their decision to accept bitcoin as legal tender, the economist in that country will be able to come up with theories and laws related to bitcoin as legal tender.