Article review: How Bitcoin Ends

March 26, 2021 by Matt McCracken

I just read the best article I have read thus far on the issue of Bitcoin.  Thus far, my take on Bitcoin and cryptocurrencies, in general, is that I assume my children will one day buy a car or a house with a cryptocurrency, but I am doubtful that it will be with Bitcoin or any other crypto currently available.  Obviously, I could be wrong on both accounts, this is just my theory.   I don't think cryptocurrencies will go away but I do think they need to be issued by something or someone with some backing to it.  I think eventually it will be a government that will do so and in the process peg the crypto to some good or service.  

The argument against Bitcoin made in the following article is one I had not thought of yet, which is Bitcoin, like gold, will become so valuable by its owners it will be hoarded and not a valid means of exchange.  Additionally, it makes other arguments that I have read before but this point is new to me.  The article is certainly worth a read:

How Bitcoin Ends