⸺ Obituary · April 12, 2018 ⸺
“This Is All It Would Take For Bitcoin To Become A Worthless Cryptocurrency”
— MarketWatch, Atulya Sarin
“If the price of bitcoin falls below its cost of mining, it will quickly go to zero.The real concern is that if the price of bitcoin continues to fall, mining will become infeasible, and without enough participants providing the computing power to record the transactions, the transactions will be infeasible and bitcoin will become worthless.”
Price at death
$7,916
Today
$73,594
Resurrection
×9.3
On 2018-04-12, Atulya Sarin (Professor, Santa Clara University) declared Bitcoin dead via MarketWatch. Bitcoin was trading at ~$7,916 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on April 12, 2018, when one Bitcoin traded for approximately $7,916. Since then, Bitcoin has appreciated by 9.3× relative to the price on the day MarketWatch pronounced it finished.