ECB Says Bitcoin Ban “Probable” Due to Climate Concerns

“The article speculates that the EU would not proceed with planned restrictions on fossil fuel cars without also taking action against Proof-of-Work cryptocurrencies.”

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Published by markskidmore

Mark Skidmore is Professor of Economics at Michigan State University where he holds the Morris Chair in State and Local Government Finance and Policy. His research focuses on topics in public finance, regional economics, and the economics of natural disasters. Mark created the Lighthouse Economics website and blog to share economic research and information relevant for navigating tumultuous times.

One thought on “ECB Says Bitcoin Ban “Probable” Due to Climate Concerns

  1. The ECB and EU are aiming far too low in simply wanting to ban Bitcoin for being environmentally dirty. While it is hard to give the ECB much moral or regulatory authority, in that it is a totally bankrupt bank (wouldn’t that be an oxymoron in a normal world?), let us assume that it is peopled with sincere environmental cleansing warriors, striving hard to protect humanity from its dirty self. If so, the ECB should raise its sights and broaden its aim. Using their logic, all Central Bank Digital Currencies (CBDCs) should now be off the table, given that they represent an entirely new vortex for dirty electricity, even if they turn out to be of the more favored “Proof of Stake” variety. There’s no escaping the fact that they represent incremental energy demand. But if the bankrupt ECB is now going to be Europe’s self-appointed climate czar, working hand in hand with the unelected EU dictators self-impersonating as saviors, it should use its full power to bring Europe’s human insects to heel. Maybe it needs a name change. Why shouldn’t it be called the Environmental Central Bank. With a mission of using phony banking to phony-fix the environment. It should zero in on the big dirty energy enchiladas. For example, how much filthy fossil energy is required to cook food? Why do people need warm or hot food, when they can eat cold, raw food? Hot food is a total waste of energy, and the ECB should eliminate it. That could be a twofer: inflation might come down as energy usage declined. They could create a Proof of Cold Food Mandate, whereby the human insects are required to prove that they have not eaten any warm or hot food. And anyone who is caught violating this mandate should see a plunge in their Food Credit Score, making it impossible for them to obtain food. That will fix those filthy bugs. How much filthy fossil energy is used heating water in homes? Why do disgusting human insects need warm or hot water for things like taking showers or cleaning dishes? Did the cave people have hot water? Of course they didn’t, and they did just fine. The ECB needs to establish a Proof of Cold Water Mandate. But let’s think more broadly. The ECB should figure out how much filthy fossil energy is used when people leave their homes, for any reason. God forbid to do something so totally frivolous as to go visit friends, or, Gasp, travel to other cities for leisure, or even business. Harari needs to loudly slam down the lid on this; travel represents freedom, and as he has previously lectured us, “those days are over!” (If anyone hasn’t already done this, they should carefully look at that God-despising monster’s face as he says that, because his mask falls off and a visage of pure evil takes its place. It is striking, and enables us to clearly see the limitless depths of the satanism now attacking humanity.) Of course, as Hypocrite of the Millennium John Kerry has pointed out, the elites need to travel in private jets because they are very important people. But the non-elites are very unimportant bugs. They are repulsive human insects who have an absolutely horrific effect on the elites’ planet, making it difficult for the elites to enjoy their earth in peace, with only the small number of abject servants they need to experience the luxury to which they are entitled. The ECB is going to learn that as a collective, the human insects use a staggering amount of filthy fossil energy when they leave their homes. What could possibly be the justification for this? Where is Greta? Why is she not on the Board of the bankrupt ECB, now that the bankrupt ECB is in the process of appointing itself the absolute ruler over European humanity? And why is the ECB stopping with Europe? Of course, we know they won’t stop with Europe, because the bankrupt central banks’ policies are killer viruses so contagious they make Omicron look like a soothing, herbal remedy. Won’t it be a shocker when the Bank of Canada, Swiss National Bank, Bank of Canada, Bank of Japan, Reserve Bank of Australia, Reserve Bank of New Zealand, Fed and all the lesser central bank sycophants miraculously come to the identical viewpoint that Bitcoin is bad, but CBDCs are good? Because the filthy fossil fuels powering Bitcoin are dirty, but the filthy fossil fuels that will power CBDCs are green. Kind of like how independent grocery stores and other local businesses are dangerous Covid-19 vectors that must be shut down to protect society, but huge, corporate, indoor virus amalgamation centers like Kroger, Safeway, Target, Albertsons, Wal-Mart and Costco are like rejuvenation spas where people can bathe in germs to find health and wellness. The tyranny is now so totally out of control that they don’t even try anymore to back it with any kind of logical justification. They just tar it onto 2x4s and smash it into our faces.

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