Since its start, Bitcoin has been called “dead” many times by doubters each time leading to predictions of its demise. Our Bitcoin Obituaries tracks every instance where Bitcoin was pronounced “dead” by critics (who might have used our Bitcoin obituary generator). These claims often emerge during market downturns or regulatory challenges, yet Bitcoin consistently rebounds, demonstrating its resilience.
Even though some thought it wouldn’t last, the world of digital money is still alive and kicking. Bitcoin leads the way, and new things like crypto casinos are making it even more exciting.
So, is Bitcoin dead yet?
Bitcoin has died 477 times
“The Doomsday Cult of Bitcoin” – NYMAG| $668.28
With the future of money in the hands of Satoshi Nakamoto’s brilliant protocol, inexact central planning would be replaced by algorithmic decentralization. Of course, none of that has happened. And it’s exceedingly likely that none of it will. After all, the difference between the Seekers’ apocalyptic prediction and the Bitcoin dream is that the latter can self-fulfill. The nature..
“The Exact Date for Bitcoin’s Final Crash to $0.00” – Wall Street Daily | $579.01
Bottom line: Bitcoin’s days are numbered. Literally. Williams predicts that Bitcoin “will trade for under $10″ by June 30, 2014. A bold prediction, no doubt. But the point is clear – Bitcoin doesn’t stand a chance at ever gaining widespread adoption.
“Bitcoin is Dead” – Street Insider | $578.98
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.
“Is Bitcoin Dead?” – About.com | $532.71
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.
“Mt. Gox Meltdown Spells Doom for Bitcoin” – Bloomberg | $532.71
Bitcoin does not yet have enough users to continue its survival. . . . it will go the way of laser discs and eight-track tapes.
“Bitcoin is an amazing example of a bubble” – Robert Shiller | $797.71
“It is a bubble, there is no question about it…. It’s just an amazing example of a bubble.” He added that he’s “amazed by how people are so excited about it” and that he tells his students that “No, it’s not such a great idea.” Eulogy made by: Robert Shiller Source
“Bitcoin Fails As A Currency And The Bubble Will Eventually Pop” – Seeking Alpha | $912.84
After a year of volatile price swings, the data is finally available and obvious enough that the concept of the Bitcoin as a currency is finally starting to fade. . . . the fatal flaw of the Bitcoin is that it is intentionally deflationary.
“Why Bitcoin Is Doomed as a Currency” – Fool.com | $821.39
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.
“An early obituary for bitcoin” – Reuters | $821.79
Bitcoin is the wrong answer to a good question: what can be done to make the monetary system less crazy? . . . Bitcoin is not over yet. But the pseudo-currency is close enough to collapse to merit an early retrospective. . . . Bitcoin is neither a relatable store of value nor a helpful unit of account.
“One Thing You Can Bank On: The Bitcoin Currency Is Doomed” – Valley News | $798.02
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.
“Bitcoin Will Crash To $10 By Mid-2014” – Business Insider | $887.63
Bitcoin is not a legitimate currency but simply a risky virtual commodity bet. . . . Bitcoin lacks the essential attributes that are needed to support a widely recognized transactional currency. If Bitcoin was allowed to proliferate as a currency it would produce greater economic uncertainty, reduced trade and lower individual standard of living.
“A Prediction: Bitcoin Is Doomed to Fail” – The New York Times | $955.67
The developers of bitcoin are trying to show that money can be successfully privatized. They will fail, because money that is not issued by governments is always doomed to failure. . . . Bitcoin, or something like it, will thrive until the authorities do better.