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2014

bitcoin obituary

“Can Bitcoin survive 2015?” – AOL | $332.63

A writer for The Washington Post argues bitcoin’s system is doomed to fail because governments have a lot of say when it comes to any financial system and can put pressure on those intuitions as it sees fit.

bitcoin obituary

“Bitcoin is (Nearly) All Dead” – Acton | $325.60

Right now, Bitcoin is only mostly dead. As an investment, it was the worst of 2014. . . . The problem, though, is that Bitcoin will likely not survive to get to that level of innovation. Will Bitcoin enthusiasts support it after they realize it has ceased to be useful as a currency and is a terrible investment? Not likely. At some point they are going to realize that they are subsidizing Bitcoin for theoretical and emotional reasons so that it can be exploited by regulation-seeking venture capitalists. When that happens Bitcoin will shift from being mostly dead to being all dead.

bitcoin obituary

“Bitcoin Bears Say Told You So” – Bloomberg | $346.01

Bitcoin’s collapse comes as governments around the world consider regulating or prohibiting the virtual currency to prevent criminals from using it to trade contraband. . . . Ripple has gained 36 percent this year; eventually it could displace bitcoin, Reinelt said.

bitcoin obituary

“Where did Bitcoin go wrong?” – CNN | $333.58

Bitcoin is not [the future]. It is a step along the way and will eventually disintegrate. . . . As a currency [Bitcoin] is almost negligible against anything. It can’t stand toe-to-toe with the Cuban Peso. . . . With Bitcoin the pretend currency, what you see is not what you get.

bitcoin obituary

“3 Reasons Bitcoin Is Doomed To Fail” – Fool.com | $362.22

With only about 13 million Bitcoins in circulation and the final number capped at 21 million, the supply is too limited for them to serve as a viable currency. . . . There will always be a place for Bitcoin and its ilk somewhere in the bowels of the Internet, but the cryptocurrency will never challenge the dollar as a medium of exchange.

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