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Seeking Alpha 2021-03-23 05:41:29

Bitcoin: You're Buying Obsolescence, And The Fall Will Be Hard

Cryptocurrency is here to stay, but Bitcoin and its clones will be obsolete, probably within this decade. Once the fall starts, it will come hard and fast.There are multiple benefits to governments from a Central Bank Digital Currency, CBDC, in managing monetary policy, enforcing tax compliance, and inhibiting criminal activity.Governments already have predicates to ban the use and exchange of Bitcoin: Tax evasion - enabling criminal activity.Consequently, central bankers will inevitably issue CBDC. It's only a matter of time. When the rollout is announced, "Katy, bar the door." The Bid:Ask will collapse.Even beyond those obvious advantages, it is simply foolish to treat Bitcoin and its clones as a reliable store of value or a means of commercial exchange.

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