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bitcoin obituary

“A Bitcoin FAQ” – Broken Librarian | $122.50

30. September 2013

Yes. It’s not anonymous, it’s not free, it’s not instant, and it’s not convenient. It’s extremely difficult to make money on it, mining is useless, and it’s literally impossible that it will ever go into widespread use. Unless you have an ideological stake in the concept of Bitcoin (or want to buy drugs and/or child porn), there is literally no reason to get involved in it.

“A Bitcoin FAQ” – Broken Librarian | $122.50 Read More

bitcoin obituary

“Once You Use Bitcoin You Can’t Go ‘Back’ — And That’s Its Fatal Flaw” – Wired | $835.11

26. November 2013

And, in the greater scheme of things, bitcoin is small: even at a roughly 10 billion dollar market capitalization it is almost irrelevant in financial terms. This is probably roughly the peak market capitalization achieved by Beanie Babies in 1999. There are indeed important and valuable ideas that exist in bitcoin’s design. But bitcoin itself? I believe its volatility and built-in irreversibility will doom it to the ash-heap of history.

“Once You Use Bitcoin You Can’t Go ‘Back’ — And That’s Its Fatal Flaw” – Wired | $835.11 Read More

bitcoin obituary

“Why Bitcoin Will Fail as a Currency” – The Calculating Investor | $14.01

13. July 2011

Although I think that Bitcoin is ingenious and fascinating in many ways, I don’t believe that it will succeed as a currency. The problem is that a Bitcoin is unlikely to ever be a good store of value (a primary function of any widely accepted currency) because the (eventually) fixed money supply will cause the purchasing power of a Bitcoin to be extremely volatile.

“Why Bitcoin Will Fail as a Currency” – The Calculating Investor | $14.01 Read More

bitcoin obituary

“Bitcoin Sees the Grim Reaper” – NY Mag | $105.70

20. June 2013

Bitcoin’s path to the grave has always been fairly clear to me. . . . You can’t seize a Bitcoin like you can seize a dollar, since it’s simply an alphanumeric string. But people need to be able to get their money in and out of the Bitcoin economy in order for it to be a useful alternative. With Mt. Gox and other Bitcoin go-betweens having such a hard time staying afloat, it probably won’t be long before even some Bitcoin diehards consider packing it in.

“Bitcoin Sees the Grim Reaper” – NY Mag | $105.70 Read More

bitcoin obituary

“Game Over, Bitcoin. Where Is The Next Human-based Digital Currency?” – OUI Share | $122.30

21. May 2013

Everyone agrees that Bitcoin is an amazing proof of concept from a technical standpoint, and has succeeded in raising much awareness for the current flaws of the monetary system. But does Bitcoin really address these flaws? More and more prominent economists and net activists say no.

“Game Over, Bitcoin. Where Is The Next Human-based Digital Currency?” – OUI Share | $122.30 Read More

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