How Central Banks can destroy Bitcoin and make Bitcoin go to $0
Central Banks of the world need to do one thing to render Bitcoin useless and make it go to zero:
Collectively, stop issuing any more new credit or fiat into the world forever.
That is, the Federal Reserve that controls USD, Bank of China for Yuan, the European Central Bank for Euros, the State Bank of India for Rupees, all collectively need to keep the aggregate amount of credit (loans) and fiat supply to be static from today and onwards forever....this 'price stability' feature that would then be added to USD, Yuan, Euros, Rupees would eventually render Bitcoin worthless and cause it to go to zero.
What do you think?
However, the probability of the central banks to coordinate and do this is zero.
The probability of even one central bank doing this is zero.
Heck the probability of one central bank of doing this for only three years is close to zero.
SINCE THIS COULD NEVER HAPPEN, THIS DECENTRALIZED, OPEN, IMMUTABLE, GLOBAL THING CALLED BITCOIN WILL ALWAYS GO UP LONG TERM.
The insane credit (monetary supply) growth is why Bitcoin, as the hardest money on the planet, will continuously barrel higher in price over long periods of time.
Annual LOW prices (floors);
2012: $4
2013: $65
2014: $200
2015: $185
2016: $365
2017: $780
2018: $3200
2019: ytd $3300
2020: 4,900 prediction
10K and beyond thenafter
Collectively, stop issuing any more new credit or fiat into the world forever.
That is, the Federal Reserve that controls USD, Bank of China for Yuan, the European Central Bank for Euros, the State Bank of India for Rupees, all collectively need to keep the aggregate amount of credit (loans) and fiat supply to be static from today and onwards forever....this 'price stability' feature that would then be added to USD, Yuan, Euros, Rupees would eventually render Bitcoin worthless and cause it to go to zero.
What do you think?
However, the probability of the central banks to coordinate and do this is zero.
The probability of even one central bank doing this is zero.
Heck the probability of one central bank of doing this for only three years is close to zero.
SINCE THIS COULD NEVER HAPPEN, THIS DECENTRALIZED, OPEN, IMMUTABLE, GLOBAL THING CALLED BITCOIN WILL ALWAYS GO UP LONG TERM.
The insane credit (monetary supply) growth is why Bitcoin, as the hardest money on the planet, will continuously barrel higher in price over long periods of time.
Annual LOW prices (floors);
2012: $4
2013: $65
2014: $200
2015: $185
2016: $365
2017: $780
2018: $3200
2019: ytd $3300
2020: 4,900 prediction
10K and beyond thenafter