⸺ Obituary · November 30, 2017 ⸺
“Bitcoin Is A Delusion That Could Conquer The World”
— The Atlantic, Derek Thompson
“It has not transformed the economy of today. While the number of bitcoin transactions is growing every year, it’s nothing close to a mass-market consumer technology, like Google, or Netflix, or even PayPal. Bitcoin remains cumbersome to use (the typical transaction can take up to 10 minutes) and the price is extremely volatile. It is, for now, a frankly terrible currency built on top of a potential transformative technology.”
Price at death
$9,917
Today
$73,565
Resurrection
×7.4
On 2017-11-30, Derek Thompson (Staff Writer, The Atlantic) declared Bitcoin dead via The Atlantic. Bitcoin was trading at ~$9,917 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on November 30, 2017, when one Bitcoin traded for approximately $9,917. Since then, Bitcoin has appreciated by 7.4× relative to the price on the day The Atlantic pronounced it finished.