Is Cryptocurrency Dead? Bitcoin Obituaries Statistic: Declared Dead Over 400 Times to Date

In early May, Bitcoin hovered around the $50,000 mark for several days. However, starting on the 12th, it experienced consecutive sharp declines, retracing as much as 53.77% from its all-time high. Once again, Bitcoin was declared dead. What's more surprising is that despite its meteoric rise this year, Bitcoin has been pronounced dead 21 times, totaling a staggering 415 death declarations since its inception.

According to statistics from 99bitcoins, media outlets and columns have issued over four hundred obituaries for Bitcoin to date, compiling some of the more interesting and radical arguments.

"Why Bitcoin Will Fail"

2011/05/08｜$3.12

• If you like Bitcoin, you must think the gold standard is a great system, but it's not.
• Even if Bitcoin is a good idea, governments will resist it.
• Fundamental technical flaws
• Cannot run offline

"This Is the End of Bitcoin" - Forbes

2011/06/20｜$15.15

As shown by the hacking of the Mt. Gox exchange, Bitcoin is not secure. As evidenced by the price drop, it lacks liquidity and is not a store of value. If it's not those, then it's not a good medium of exchange. Who will accept Bitcoin?

"Hot, Cold, 2012 Bitcoin Is Dead" - WIRED

2012/12/24｜$13.3

At its peak, Bitcoin was hailed as a viable alternative currency for the internet age, a currency system aimed at preventing theft, gambling, and crime. It was later used in malware, the dark web, black markets, swinging between compliance and illegality. To this day, you can't even use it to buy Facebook stock.

"Fool's Gold" - SLATE

2013/04/11｜$131.95

History shows that private currencies always end in tragedy. If central banks sometimes abuse people's trust, this alternative is even worse. The weirdest thing about the Bitcoin myth is:

That people who are extremely wary of governments trust Satoshi Nakamoto so much, they could be anyone, mischievous Federal Reserve economist, criminal syndicate, bored 11-year-old Ukrainian genius. If Satoshi's morality is inversely proportional to his intelligence, he'd pocket the early Bitcoins and laugh all the way to the bank.

"Bitcoin Sees the Grim Reaper" - New York Magazine

2013/06/20｜$105.70

The path to the grave for Bitcoin has always been very clear.

You can't hold Bitcoin in your hand like cash because it's just a series of letters and numbers. The public needs to be able to freely transfer within its system for it to be a useful alternative. Now Gox exchange and some intermediaries are struggling to survive, even stubborn long-term supporters are considering giving up.

"Bitcoin's Premature Obituary" - Reuters

2014/01/08｜$821.79

How to stabilize a currency system? Bitcoin is definitely the wrong answer. It's not over yet, but this counterfeit currency is very close to collapsing. Let's review first. Bitcoin is neither a store of value nor a useful unit of account.

"The Exact Date Bitcoin Goes to Zero" - Wallstreetdaily

2014/02/27｜$579.01

The days of Bitcoin are numbered. Williams predicts that on 6/30/2014, Bitcoin will be below $10, which is a bold but clear idea - Bitcoin will never have a chance of widespread adoption.

"Bitcoin Can't Survive" - Fortune

2015/11/04｜$395.67

Jamie Dimon, CEO of JPMorgan:

The public is wasting time on Bitcoin and other digital currencies. There will never be a truly uncontrolled currency in the world. No government will tolerate it for long, and no currency will hover on the edge of government control.

"Performing Bitcoin Autopsy" - The Street

2016/03/08｜$409.05

For Bitcoin, Ethereum, and countless other blockchain projects, the best analogy is cassette tapes and mid-1980s optical disc technology.

"Bitcoin's Wild Ride Shows the Truth: It Is Probably Worth Zero" - The Wall Street Journal

2017/09/18｜$3569.56

Behind every bubble is a great idea, and at least at first glance, Bitcoin seems like a great idea. A borderless digital currency beyond government control that allows anonymous online transactions? I'm very interested in that, but not so much in Bitcoin itself.

So, should a Bitcoin be worth $500,000, $5,000, $500, or 0? I lean towards zero, especially since Bitcoin's value depends on whether it can replace the US dollar as the global digital currency. Due to its poorly designed simple factors, Bitcoin cannot possibly replace the dollar. Bitcoin can handle a pitifully small transaction volume and is too energy-intensive, making it completely unsuitable as a currency.

"Bitcoin Is Rat Poison Squared" - Buffett

2018/05/05｜$9671.02

Investing legend Buffett presided over the Berkshire Hathaway 2018 annual shareholder meeting and said:

Bitcoin is probably rat poison squared

"Bitcoin Will Soon Be Worth Zero" - New York Times

2019/05/22｜$7623.51

Bitcoin is indeed just a Bitcoin. Since this "investment" dropped from $20,000 to $4,000 last year, I've been telling you this. Last Thursday night, Bitcoin plummeted by around $1,000 to about $7,000. Bitcoin will soon be worth zero. But before that, criminals can still use it and other digital currencies to transfer assets worldwide without getting caught.

"Bitcoin Will Soon Be Worth Zero" - Legendary Investor Jim Rogers

2020/06/21｜$9276.15

Those who believe in cryptocurrency think they are smarter than the government, but the government has something that some participants in cryptocurrency don't have, and that's "guns." I believe that virtual currencies will eventually disappear because their value is not based on the military power of government sovereignty.

"Bitcoin Is a Monopoly Currency" - Talk Show Host Bill Maher

2021/05/01｜$57,859.28

There's another one born out of a joke called Dogecoin, and as far as I understand, it's just like all cryptocurrencies because the whole thing is a joke. I completely understand that the financial system is imperfect, but at least it's real. Anyway, whether it's a group of people or a nerd, in 2008, someone named Satoshi Nakamoto miraculously created Bitcoin out of thin air, which I think in Japanese means "monopoly currency."

"Bitcoin Makes Me Sick" - Charlie Munger

2021/05/01｜$57,859.28

I hate seeing the success of Bitcoin, I have no respect for these currencies that benefit kidnappers and ransom groups. I also don't like giving billions of dollars in excess funds to someone who "invents new financial products out of thin air," this whole damn development is sickening and goes against the interests of civilization, let others handle the rest of the criticism.

Bitcoin fell from its all-time high of $64,899 on 4/14, hitting a low of $30,000 on 5/19, and has almost recovered all gains from 2021, 1/1: $29,412, hence various arguments about Bitcoin's death and the end of the bull market are rampant. Looking back at media reports during the downturn in recent years may help with the mentality.