Re: ‘Bitcoin Is Not Money’ Because We Cannot Print It

Quote from: tegarp90 on March 22, 2019, 06:36:57 AM

Quote from: Baofeng on March 20, 2019, 04:36:07 PM

Bitcoin Is Not Money Because We Cannot Print It Banks

Quote

Bitcoin is not money, the European Central Bank published a statement regarding bitcoin as not being a monetary asset. These words from the bank are immensely harsh for the crypto community. The crypto analyst and investor, Joseph Young suggests that the bank has released the statement as per the crypto assets being unprintable. Though this is an absurd manner to qualify a monetary asset as money, the bank does praise the technology in the working behind bitcoin. The technology, being the entire crypto protocols, most specifically, decentralization is breakthrough and can make up for some decent projects in the future.

https://blockpublisher.com/bitcoin-is-not-money-because-we-cannot-print-it-banks/

And yet another other attack, but seriously flaw argument coming from banks. But that's fine, hearing this kind of arguments make me think that they are really threaten by crypto and afraid that one day all of them will become obsolete, or least majority of people will go to crypto, specially bitcoin.

Yeah but everything will be digitalized in the future, and people will leave printed / physical money because it's much more simple and safe.
And also, many bitcoins banks are popping out

Besides that, the raw materials for the paper will extinct, and we cannot use paper to print the money. With the growth of the technology, it will change the using the paper for the money, and it will transform into digital payment as we look right now. Many apps offerings the new service that we only need to send the money to the apps that can be used to pay something.

In the future, this process will be more simple especially if we use cryptocurrency, so we don't have to carry paper money to everywhere, and if we want to buy something, we could use the barcode and scan to see the price.