⸺ Obituary · August 30, 2016 ⸺
“How Bitcoin Was Brought Down By Its Own Potential—And The Banks”
— Quartz, Luke Ryan
“Split by internal divisions while its most useful aspects are harvested by the very financial behemoths it once hoped to destroy, Bitcoin is fast becoming the tech world’s version of Waiting for Godot, wherein a hermetically sealed community squabbles and bickers over arcane points of code and law as their world slowly crumbles around them….Welcome to today’s Bitcoin—a phenomenon so internally focused that its advocates have barely noticed the battle has already been lost.”
Price at death
$576
Today
$73,507
Resurrection
×128
On 2016-08-30, Luke Ryan (Tech Writer) declared Bitcoin dead via Quartz. Bitcoin was trading at ~$576 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on August 30, 2016, when one Bitcoin traded for approximately $576. Since then, Bitcoin has appreciated by 128× relative to the price on the day Quartz pronounced it finished.