ECB's Fabio Panetta: Unbacked Cryptos Are a 'Vehicle for Gambling' Lacking 'Intrinsic Value' – Finance Bitcoin News

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Fabio Panetta, a member of the executive committee of the European Central Bank (ECB), believes that cryptocurrencies, posing as investment assets, are more like gambling vehicles.

ECB's Fabio Panetta: Unbacked Cryptos Are a 'Vehicle for Gambling' Lacking 'Intrinsic Value'

on Jan. 4, Panetta argues that unbacked cryptos should be regulated more like gambling instruments than as currencies.They are speculative assets. Investors buy them with the sole objective of selling them on at a higher price. In fact, they are a gamble disguised as an investment asset.

 

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Bitcoin is backed by and infused with ENERGY/WORK.

The cornerstone of Web3 has to be decentralization, however I think that concept as it stands now, makes the average person hesitant. We need to focus on making the space safe and more inviting all while making it efficient to transact. DIDs can help bring this concept to life.

Translation 'Fiat is our ponzi scheme, and we are losing our control power dynamic so we must once again infringe upon the civilians rights to feed themselves, and make sure it's harder for them to succeed, while we do not regulate ourselves.'

Brilliant, but using ChiefraFba for signals and analysis

Using Chiefrafba for signals and analysis I have a 92% win rate in 2 months

Taxi drivers I'm sure didn't have nice things to say about Uber.

He's dead right of course. They are all just unregulated gambling inc bitcoin from the comfort of your smart phone.

Holding fiat currency will soon be the biggest gamble… let’s not even mention CBDCs

Stocks and gold also are gambling vehicles, there's no difference.

Go scannn

Buy signals abundant!

The turkey never vote's for Christmas

He just afraid of crypto power

He is talking about the Euro🤣

Bitcoiners when it goes up 1% SELL!SELL!SELL! Bitcoiners when it goes down 1%. SELL!SELL!SELL! 🤣😂🤣😂🤣

Totally agree, but I only use ChiefraFba for signals and analysis

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