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Bitcoin Obituaries

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“The Rise and Fall of Bitcoin” – Wired | $2.37

23. November 2011

Beyond the most hardcore users, skepticism has only increased. Nobel Prize-winning economist Paul Krugman wrote that the currency’s tendency to fluctuate has encouraged hoarding. Stefan Brands, a former ecash consultant and digital currency pioneer, calls bitcoin “clever” and is loath to bash it but believes it’s fundamentally structured like “a pyramid scheme” that rewards early adopters.

“The Rise and Fall of Bitcoin” – Wired | $2.37 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

“Why Bitcoin Will Fail As A Currency” – Tav’s Blog | $19.73

7. June 2011

Because, by design, there will never be more than 21 million Bitcoins in existence. And thanks to hoarding and attrition, we can be sure that it will eventually serve as nothing more than as a collector’s item. . . . I would like to call upon the Bitcoin community to stop referring to it as a digital currency. This is misleading and harmful.

“Why Bitcoin Will Fail As A Currency” – Tav’s Blog | $19.73 Read More

bitcoin obituary

“Why Bitcoin can’t be a currency” – The Underground Economist | $0.23

15. December 2010

Negative feedback loops like this are basically homeostasis. In nature, positive feedback loops like exist with Bitcoin are lethal; the only thing that’s even kept Bitcoin alive this long is its novelty. Either it will remain a novelty forever or it will transition from novelty status to dead faster than you can blink.

“Why Bitcoin can’t be a currency” – The Underground Economist | $0.23 Read More

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