{"id":1560,"date":"2024-10-23T17:17:00","date_gmt":"2024-10-23T17:17:00","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=1560"},"modified":"2024-10-23T17:17:00","modified_gmt":"2024-10-23T17:17:00","slug":"bitcoin-advocates-fire-back-at-european-central-bank-say-vested-interest-motivated-criticism","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=1560","title":{"rendered":"Bitcoin Advocates Fire Back At European Central Bank, Say &#8216;Vested Interest&#8217; Motivated Criticism"},"content":{"rendered":"<div>\n<p>A recent European Central Bank (ECB) working paper criticizing <strong>Bitcoin <\/strong>(CRYPTO: <a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/btc\/usd\">BTC<\/a>) has sparked strong reactions from cryptocurrency academics, accusing the paper of <a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/24\/10\/41432431\/early-bitcoin-buyers-could-impoverish-the-rest-of-society-european-central-bank-paper-clai\">bias and flawed analysis<\/a>.<\/p>\n<p><strong>What Happened: <\/strong>The paper, released on Oct. 12 by ECB authors<strong> Ulrich Bindseil<\/strong> and <strong>J\u00fcrgen Schaaf<\/strong>, painted a negative picture of Bitcoin&#8217;s future viability, focusing on its volatility, wealth concentration, and lack of productive contributions.<\/p>\n<p>In response, a group of crypto academics <a href=\"https:\/\/www.murrayrudd.pro\/challenging-bias-in-the-ecbs-bitcoin-analysis\/\">published<\/a> a rebuttal on Oct. 22, challenging the ECB&#8217;s findings and defending Bitcoin&#8217;s value and utility.<\/p>\n<p><strong>Murray Rudd<\/strong>, from the Bitcoin advocacy group Satoshi Action Fund, led the critique, accusing the ECB paper of misinterpreting Bitcoin\u2019s primary purpose and technological foundations.<\/p>\n<p>&#8220;By focusing on the early limitations, Bindseil and Schaff fail to acknowledge the significant progress made in improving its scalability &#8230;<\/p>\n<p><a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/24\/10\/41495908\/bitcoin-advocates-fire-back-at-european-central-bank-say-vested-interest-motivated-critici\" alt=\"Bitcoin\" advocates fire back at european central bank say interest motivated criticism>Full story available on Benzinga.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>A recent European Central Bank (ECB) working paper criticizing Bitcoin (CRYPTO: BTC) has sparked strong reactions from cryptocurrency academics, accusing the paper of bias and flawed analysis. What Happened: The paper, released on Oct. 12 by ECB authors Ulrich Bindseil and J\u00fcrgen Schaaf, painted a negative picture of Bitcoin&#8217;s future viability, focusing on its volatility, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-1560","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1560","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1560"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1560\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}