Member of the US Federal Reserve Board of Governors Jerome Powell believes that Bitcoin will become obsolete after the launch of the digitaldollar.
During a speech to the Financial Services Committee, Jerome Powell stated that the digital dollar will outperform any other cryptocurrency. He declared:
You will no longer need stablecoins, you will not need cryptocurrencies. You will have the digital currency of the United States.
Mr. Powell does not know that Bitcoin is valuable because no one can change its maximum supply. It cannot be censored. Anyone can launch a node.
The digital dollar, on the other hand, will haveunlimited supply, one centralized node and constant airdrops to political allies. In the world of cryptocurrency, such a token is called shieldcoin.
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Based on materialsbitcoinmagazine.com
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