The Netherlands have to ban Bitcoin before they banish the euro, says an official
The Netherlands have to ban Bitcoin before they banish the euro, says an official
- The Dutch government has to prohibit Bitcoin because it is bad money that could get the euro - or good money - out of circulation, said an official.
- Bitcoin does not fulfill any of the three functions of money, said the official who is responsible for a national business office.
There are countries like El Salvador who have accepted Bitcoin and want to make it part of their economic agenda, and others like China and India have continued to fight against it. An official believes that the Netherlands should join the latter and prohibit Bitcoin. The official who heads a national business office believes that Bitcoin threatens the circulation of the local currency.
Pieter Hasekamp recently published an essay that attacks Bitcoin and claims that none of the three functions of the money have fulfilled. Hasekamp is the director of the Dutch Office for Economic Policy Analysis, which is subordinate to the country's Ministry of Economic Affairs. Their goal is to deliver economic analyzes and forecasts to both the Dutch government and the European Union.
One of his arguments against Bitcoin is that it has failed in the three roles of the money - computing unit, value -placed and means of payment. Volatility, theft and fraud and its lack of user -friendliness are some of the problems that Bitcoin hold from these three roles.
"The final collapse of the Bitcoin bubble is inevitable"
Hasekamp believes that Bitcoin and other cryptos "do far worse in every respect than public funds". He added:
There is no value preservation, the user -friendliness suffers from a lack of acceptance and security is undermined by real frauds. Cyber transactions only score in data protection-and it is precisely this anonymity that makes them attractive for criminals.
he continued to sing the same old song - that Bitcoin is only good for criminals. This myth is still blown up by dug up criminals who use Bitcoin one after the other. In one of the best examples, the US government was able to regain a large part of the BTC, which the large oil company Colonial Pipeline had paid as a ransom to a group of hackers.
For the economists, however, cryptos are nothing more than a bladder. He recorded this and explained:
cryptocurrencies are essentially neither money nor a financial product, but an example of what Nobel laureate Robert Shiller calls an infectious story: an infectious story in which people believe in it. The law of Gresham is replaced by the law of Newton: what goes up must come down. The final collapse of the crypto bubble is inevitable.
Source: Crypto-news-flash.com
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