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2014

bitcoin obituary

“Bitcoin is Dead” – Street Insider | $578.98

26. February 2014

Bitcoin’s market cap on paper by far exceeds that of the competition, but the ability to translate Bitcoin wealth to wealth in other forms is very limited. There are many Bitcoin holders heavily invested in Bitcoin’s success and it has a first mover advantage. However as a store of value, its only value is reputational, and recent developments have shaken that reputation.

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bitcoin obituary

“Is Bitcoin Dead?” – About.com | $532.71

25. February 2014

But does this one significant report of Bitcoin failure mean that the virtual currency is doomed to failure? I am no Bitcoin expert but I do know that any given currency is rooted in belief, which is then supported by faith in the issuing entity. Therefore, once the belief or faith is gone, the currency is gone. Thus far, in the opinion of your humble author, Bitcoin is nothing more than illusion.

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bitcoin obituary

“Why Bitcoin Is Doomed as a Currency” – Fool.com | $821.39

8. January 2014

The part where you run in to trouble is getting governments to accept tax revenue as Bitcoin, because it undermines the national currency, making monetary policy irrelevant. And why would a country do that exactly? Why would they surrender the ability to heal their economy? Sorry to all the believers, but it’s a Libertarian pipe dream that makes absolutely no sense.

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bitcoin obituary

“One Thing You Can Bank On: The Bitcoin Currency Is Doomed” – Valley News | $798.02

4. January 2014

Sorry, but Bitcoin isn’t the future. If anything, it’s a throwback to an earlier era. . . . Anyone who thinks that Bitcoin will triumph has to believe that it will succeed where earlier generations of private currencies failed — that Bitcoin will, improbably, manage to overthrow more than century’s worth of accumulated state power, jealously guarded and ruthlessly enforced. That’s a preposterous fantasy — and a dangerous one, if you’re an investor.

“One Thing You Can Bank On: The Bitcoin Currency Is Doomed” – Valley News | $798.02 Read More

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