I see it the same way. And I can't understand the jubilation among Bitcoin disciples. Don't they see that this is diametrically opposed to the basic idea of Bitcoin?
Perhaps we need Bitcoins with an expiry date to make them unusable as a reserve and establish them as an everyday means of payment
It's stupid to be cheering on government involvement or adoption, but it's just as stupid to resist it or expect it will never happen.
The basic idea of Bitcoin, however, is as a peer-to-peer electronic cash that has fixed supply and stores value over time (i.e. a more perfect money). The expiry date proposal is antithetical to a more perfect money because money needs to retain its value over time. An expiry would morph bitcoin from a more perfect money into a shitty coupon. Self-defeating proposal.
