/biz/ - Business & Finance

>>30179835

>>30179812
See >>30177074, it's going to be bad but don't make them think that it will get so bad that everything completely breaks down into a new Dark Age and looks like a Fallout game. Be prepared but don't be scared.

Alasdair Macleod (the best economist in the world) just re-iterated his view that BTC is going to zero after the reset. The article got republished on ZeroHedge so hope it changes some minds before the boomers and moonboys get rugged.

Bear in mind that his prediction that BTC "still had a long way to go" was borne out. He never said that BTC price wouldn't rise.

"The price of Bitcoin still has a long way to go. But to overturn the history of gold is wishful thinking. Fully backed Gold and silver substitutes and circulating coins are practical and acceptable for 7 billion transacting individuals. Bitcoin will then have no role, and sink to zero priced in gold." -- Alasdair Macleod, November 2020

https://www.zerohedge.com/commodities/dont-dismiss-gold-silver

"To the dismay of the crypto crowd, bitcoin is both unlikely and unsuited to succeed fiat as the common medium of exchange, for two important reasons. The first is central banks don’t own any and have no interest in adopting any form of crypto other than ones whose ledgers they control. We know they are racing to get central bank digital currencies up and running, partly to head off private sector alternatives. But these proposed CBDCs are just another form of fiat and will fail as surely as revolutionary France’s mandats territoriaux did following public rejection of the inflated and hated assignats.

However, central banks and government treasury departments do own gold — almost certainly less than the 35,171.3 tonnes reported by the World Gold Council, when leases, loans and double-counting are allowed for. But the majority at least own some gold. Even though it is likely to be a last resort, turning their fiat currencies into gold substitutes is a central bank’s only option to avoid a complete currency collapse, and with it the collapse of all state spending."