⸺ Obituary · June 29, 2015 ⸺
“Bitcoin Is Unsustainable”
— Motherboard, Christopher Malmo
“In light of the above analysis, Bitcoin’s power usage per transaction isn’t remotely sustainable as a wholesale replacement for the conventional financial system. In the future, Bitcoin could massively gain popularity, pile on millions more transactions, and still be unsustainable due to the arms race between miners.”
Price at death
$256
Today
$73,594
Resurrection
×287
On 2015-06-29, Christopher Malmo (Tech Writer, Motherboard) declared Bitcoin dead via Motherboard. Bitcoin was trading at ~$256 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on June 29, 2015, when one Bitcoin traded for approximately $256. Since then, Bitcoin has appreciated by 287× relative to the price on the day Motherboard pronounced it finished.