⸺ Obituary · February 19, 2016 ⸺
“R.I.P. Bitcoin. It’s Time To Move On.”
— The Washington Post, Vivek Wadhwa
“Let’s also bear in mind what it is that makes some venture capitalists Bitcoin zealots: pure greed. That is the reason clearest to me for Bitcoin’s failure. Intended as a level playing field and a more efficient transaction system, the Bitcoin system has deteriorated into a fight between interested parties over a pool of money. In the beginning, Bitcoin was a noble experiment. Now, it is a distraction. It’s time to build more rational, transparent, robust, accountable systems of governance to pave the way to a more prosperous future for everyone.”
Price at death
$420
Today
$73,594
Resurrection
×175
On 2016-02-19, Vivek Wadhwa (Professor, Carnegie Mellon) declared Bitcoin dead via The Washington Post. Bitcoin was trading at ~$420 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on February 19, 2016, when one Bitcoin traded for approximately $420. Since then, Bitcoin has appreciated by 175× relative to the price on the day The Washington Post pronounced it finished.