⸺ Obituary · November 22, 2013 ⸺
“How Bitcoin Is Going To Fail And Why It Is Not A Gold Equivalent”
— Fester's Den, Fester's Den
“The federal reserve comes out with their own version of the bitcoin, let’s call it the “USDcoin”, they make a .001 (or some other arbitrary number) USDc the equivalent of $1 and they make it very easy to use. You can have these deposited into your existing bank account and they are immediately converted to dollars and when you send dollars out of your account they are immediately converted to USDc. Then the government also implements anti-bitcoin laws that make using bitcoin difficult or impossible to use. Of course they will claim bitcoin was being used for illegal purposes and money laundering. This will be the end of bitcoin.”
Price at death
$747
Today
$73,562
Resurrection
×98.4
On 2013-11-22, Fester's Den declared Bitcoin dead via Fester's Den. Bitcoin was trading at ~$747 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on November 22, 2013, when one Bitcoin traded for approximately $747. Since then, Bitcoin has appreciated by 98.4× relative to the price on the day Fester's Den pronounced it finished.