Bitcoin (BTC) Veteran Tuur Demeester Says New European Central Bank (ECB) Paper on BTC Is a 'Declaration of War” on the Top Crypto Asset

In new research, the ECB claims that BTC has strayed away from the original vision of Satoshi Nakamoto, its pseudonymous creator, and now exists to extract value from latecomers and non-holders.

Bitcoin (BTC) veteran Tuur Demeester is slamming a new European Central Bank (ECB) paper on BTC as a “declaration of war” on the top crypto asset.

In new research, the ECB claims that BTC has strayed away from the original vision of Satoshi Nakamoto, its pseudonymous creator, and now exists to extract value from latecomers and non-holders.

The authors of the ECB paper, titled ‘After the hype: An economic autopsy of Bitcoin,’ conclude by urging the general public to call on politicians to pass laws that force BTC to “disappear.”

“The ball is now in the court of society at large, and ultimately politicians, who must decide whether they want Bitcoin to disappear or not,” the authors write.

“If society decides that Bitcoin is not rendering any useful service to humanity and that its disappearance would not entail any significant economic costs, then it should follow the recommendation of the present analysis and pass legislation that would make Bitcoin's existence economically unviable.”

Demeester, who is also the editor-in-chief of the Bitcoin analysis firm Adamant Research, says that he believes governmental authorities will use the ECB’s “luddite argument” to enact taxes or bans on BTC.

“In all the years I’ve been monitoring the Bitcoin space, this is by far the most aggressive paper to come from authorities.

The gloves are off. It’s clear that these central bank economists now see Bitcoin as an existential threat, to be attacked by any means possible.

Many of us have warned that this was coming: Bitcoin as a major political fault line both in national and international elections. Well, here it is. It means that us HODLers must take action to ensure that governments respect our basic right to hold property.

And no, this won’t be a war between haves and have-nots. Rather this will be a historic clash between those who stand for the natural rights of the individual, and those who clutch at the failed ideologies of collectivism and central planning.”

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