⸺ Obituary · July 13, 2018 ⸺
“With The Con That's Bitcoin, There's No There There”
Gary Smith
“It is a mathematical fact that when the price of bitcoins goes to zero, this zero-sum game will have completed its circle. Every dollar of profit that anyone made trading bitcoins will be matched by the losses of other bitcoin traders.”
Price at death
$6,218
Today
$61,577
Resurrection
×9.9
On 2018-07-13, Gary Smith (Professor, Pomona College) declared Bitcoin dead via RealClear Markets. Bitcoin was trading at ~$6,218 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on July 13, 2018, when one Bitcoin traded for approximately $6,218. Since then, Bitcoin has appreciated by 9.9× relative to the price on the day RealClear Markets pronounced it finished.
