⸺ Obituary · January 12, 2015 ⸺
“Why Bitcoin Is A Ponzi Scheme”
— The Kernel
“Bitcoins will go down in history as the most spectacular private Ponzi scheme in history. . . . The coins will never be the money of the future. . . . Bitcoins are too volatile in price ever to serve as a currency. . . . bitcoins are not money; dollars are money.”
Price at death
$267
Today
$73,554
Resurrection
×275
On 2015-01-12, The Kernel declared Bitcoin dead. Bitcoin was trading at ~$267 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on January 12, 2015, when one Bitcoin traded for approximately $267. Since then, Bitcoin has appreciated by 275× relative to the price on the day The Kernel pronounced it finished.