⸺ Obituary · June 7, 2011 ⸺
“Why Bitcoin Will Fail As A Currency”
Tav Siva
“Because, by design, there will never be more than 21 million Bitcoins in existence. And thanks to hoarding and attrition, we can be sure that it will eventually serve as nothing more than as a collector’s item. . . . I would like to call upon the Bitcoin community to stop referring to it as a digital currency. This is misleading and harmful.”
Price at death
$24
Today
$61,577
Resurrection
×2,574
On 2011-06-07, Tav Siva (Distributed Systems Engineer) declared Bitcoin dead via Tav's Blog. Bitcoin was trading at ~$24 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on June 7, 2011, when one Bitcoin traded for approximately $24. Since then, Bitcoin has appreciated by 2574× relative to the price on the day Tav's Blog pronounced it finished.
