MacroVoices host Erik Townsend has me convinced that Bitcoin fans have things ass-backward. Bitcoin is headed to zero.

Whether you are a Bitcoin fan or detractor, please do yourself a favor and play this excellent Webinar with Erik Townsend.

If you are a Bitcoin fan, don’t let the title ‘Biggest Speculative Mania in History‘ scare you away. Instead, listen to the well-reasoned statements of Townsend.

Townsend compares current Bitcoin technology to the original Wright Brothers aircraft. There will be improvements. The technology will spread.

However, that technology will be used by governments to track everything. Ironically, that’s the exact opposite of what the Bitcoin believers think will happen.

Blockchain Debunked

Townsend also has a 20-page white paper called “BlockChain Debunked”. The paper is on Distributed Ledger Protocols (DLP), and CryptoCurrencies.

Once again, I encourage everyone to read the paper. Here are a few excerpts from the paper.