⸺ Obituary · February 28, 2018 ⸺
“Cryptocurrency Is A Giant Multi-Level Marketing Scheme”
— Quartz, David Ryan Polgar
“That’s not the currency of the future—that’s a giant multi-level marketing scheme. Broadly defined, multi-level marketing schemes work by creating a structure where people are recruited and then incentivized to recruit new members…”
Price at death
$10,310
Today
$73,594
Resurrection
×7.1
On 2018-02-28, David Ryan Polgar (Tech Ethicist) declared Bitcoin dead via Quartz. Bitcoin was trading at ~$10,310 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on February 28, 2018, when one Bitcoin traded for approximately $10,310. Since then, Bitcoin has appreciated by 7.1× relative to the price on the day Quartz pronounced it finished.