“The Beginning of the End for Bitcoin” – Daily Reckoning | $1541.90

Book it. Bitcoin’s finished. The New York Times, on Saturday, I think it was… April 29, anyhow, said the hacker who tried to get a ransom from Netflix over the new episodes of that show…

You and I had that lunch conversation last month you recorded. You asked me what tech trends I’m negative on. I mentioned bitcoin. I’d like to reiterate that. I’d like to double down on it….

Here’s a scenario. Some major hospital group gets hacked. Boeing gets hacked. Something big and important. Something where lives could be on the line. Not just episodes of a TV show. If that hacker demands payment in bitcoin, that’s it. Bitcoin’s cooked…

Congress steps in. Passes layer upon layer of complex regulation and basically outlaws it. They outlaw digital currency and make it the same as human trafficking or something….

Bitcoin itself, it’s doomed. The end is near. Soon as Congress has a reason, they figure out how to shut it down. You mark my words. Too many banks have too much to lose. And if we know one thing, it’s that big banks and Congress are part of the same beast….

Eulogy made by: Ray Blanco


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