⸺ Obituary · March 5, 2018 ⸺
“Bitcoin Is Based On The Blockchain Pipe Dream”
— The Guardian, Nouriel Roubini
“In reality, blockchain is one of the most overhyped technologies ever. For starters, blockchains are less efficient than existing databases. When someone says they are running something on a blockchain, what they usually mean is that they are running one instance of a software application that is replicated across many other devices.”
Price at death
$11,433
Today
$73,594
Resurrection
×6.4
On 2018-03-05, Nouriel Roubini (Economist and Professor, NYU) declared Bitcoin dead via The Guardian. Bitcoin was trading at ~$11,433 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on March 5, 2018, when one Bitcoin traded for approximately $11,433. Since then, Bitcoin has appreciated by 6.4× relative to the price on the day The Guardian pronounced it finished.