- and then some more doom for good measure - establishment forecasts about the future of cryptocurrencies, including everyone from Goldman, to the BIS, to the World Bank, all of which have been some iteration on how cryptos have no future, this morning an unexpectedly objective and somber view on the future of bitcoin came from none other than the organization that prints (out of thin air) the nemesis to bitcoin: the Federal Reserve.

While the emphasis of the Q&A with New York Fed economists Michael Lee and Antoine Martin, which we have republished below, is the issue of "trust" and how it defines monetary exchange, there are several things that attracted our attention. 

The first is the Fed's take on what we have been saying since 2015, and the reason behind bitcoin's original surge in 2015/2016, namely its use for illicit purposes: