A Chinese economist and assistant director at the International Monetary Institute of Renmin University, Qu Qiang, has predicted that “We’re all going to die” if bitcoin becomes widely adopted as a currency. He foresees our society falling into “a death spiral of deflation,” noting that “the whole society is going to shrink and self-explode.”
We’re All Going to Die if Bitcoin Is Widely Adopted, Predicts Chinese Economist
An assistant director at the International Monetary Institute of Renmin University, Qu Qiang, was interviewed on CGTN about bitcoin. CGTN is owned by the Chinese state media China Central Television (CCTV). The video of his interview was shared on Twitter Thursday by Hailey Lennon, who said she walked into her hotel room and it was playing on TV.
Qu was asked: “Can you give me the worst scenario, what kind of a systemic shock it will give to the current financial system if bitcoin is widely used in China or the rest