The EU Is Getting Ready A CBDC And Plans To Ban Crypto Mining And Trading

What about this? The secret talks from the side of the European Union take it to a whole new next level of completely banning cryptocurrency trading and mining from the continent.

And we talk about China and the ban that was expected, but few expected this. From the supposed champions of the free markets.

Bitcoin is useless, and those that care about it know it is extremely risky as an investment, also there is nobody using Bitcoin for anything but to trade and profit from it.

The EU doesn't want to just ban mining of Bitcoin, but also all proof of work cryptocurrencies, and this is all discussions behind closed doors, while we were expecting at least a small regulationary announcement instead.

But the EU seems to not understand differences.

Todays news from Netzpolitik explain a lot of what will make even enemies of cryptocurrencies feel that Europe has lost its sense of responsibility to the free market.

Needless to say the whole issue with the European ecology was not created by CO2 but decades of nuclear weapons testing and nuclear labs accidents.

But even when CO2 is being reduced in the EU, there will still be energy demands that will be covered by the massive investements made in solar and wind energy sources.

EU has very few mining farms mostly in northern regions and the data we know of, are not even visible compared to the rest industries of the continent. What is the point of the European Counsil here if we all know there is almost no mining in Europe?

There was a PoS against PoW argument too, with politicians siding with PoS and even talking about Solana and how it manages with PoS to achieve a cryptocurrency.

Well, this is not decentralized. Solana is like running from a singe server, like the typical guy with a desktop PC at a basement coding and creating a cryptocurrency he could control completely, until, the feds kick the door and seize everything.

This is the target here, it has nothing to do with ecological concerns, as there is limited mining in the EU because of the high cost of energy.

Not producing cheap energy so what can you regulate about mining?

So, what the EU now is concerned is to ban trading. Within the endless lies and the storm of hate against cryptocurrencies, the European Union proves once again it is governed by thugs having not the interests of the Europeans in mind, but the long lasting positions in governments, and keep them for decades until they hand them to their offspring.

Finally

As an investor it scares me. I don't care that cryptocurrencies are not protected by government regulations or economies, this is not my interest, I scared beacuse we move back years ago into banning what has grown to be an industry.

Banning BTC could make sense if enough data was pointing out mining in the EU was constituting a large percentage of CO2 emissions in the continent.

Read the link here and discover how wiked the European Union works without any more commentary from me.

A euro-CBDC is developing so Europe makes its move against crypto similar to China. We probably expected less voices of similar authoritarianism in Europe, but politics did not change at all, communist or democratic, all want contol of the money and will not allow a bunch of nerds ruin it for them.

We will see as this is not going to end soon, but the fight will be with many rounds.