With bitcoin plummeting in recent days, skeptics have been shouting that Bitcoin is dead for the 376th time. The last of them was Ross Clark, a British journalist via the article “Cryptos are dead”, published this Monday (9).
In addition to Clark, other longtime Bitcoin critics have attempted to land on Bitcoin this year, totaling 11 “obituaries”. Among them, Peter Schiff and Charlie Munger spoke on the subject more than once, along with seven others.
“Cryptocurrencies are dead”
Bitcoin’s most recent “death” was published in The Spectator, a British newspaper founded in 1828. On that occasion, journalist Ross Clark argues that Bitcoin and other cryptocurrencies have not served as a hedge against inflation, while fiat currencies are also dying.
“Many thought that Bitcoin and other cryptocurrencies could become a hedge against inflation. That hope was dashed. While most currencies are declining in value relative to real-world assets, cryptocurrencies are depreciating faster.”
The publication, titled “Cryptocurrencies Are Dead,” was released this Monday (9), after Bitcoin hit $30,000, down more than 50% from its all-time high.
Bitcoin will no longer exist in ten years’ time
Peter Schiff, the famous Bitcoin critic, has already “killed” Bitcoin twice this year. In his first prophecy, published in February, the critic claimed that “Bitcoin’s candle will soon go out”. He went on to note that people obsessed with Bitcoin live in the past and gold is the future.
Two days later, Schiff tweeted that Bitcoin won’t last another decade, again comparing gold’s gains to BTC’s from the start of the year to that point.
“People who are still obsessed with Bitcoin are living in the past. Gold is the future. The past ten years are irrelevant to what will happen in the coming years.” said Peter Schiff in his tweet. “This is when gold starts to sparkle. The Bitcoin candle will soon go out. Bitcoin HODLers who don’t understand the change will lose everything!”
Bitcoin will no longer exist in ten years’ time
Bitcoin is “Disgusting and Contrary to the Interests of Civilization”
Charlie Munger, Warren Buffett’s right-hand man, was the hardest hit. In an interview with CNBC earlier this month, he claimed that Bitcoin is “disgusting”. As early as February, he compared cryptocurrency to a venereal disease.
“I have to say that the whole damn development is disgusting and contrary to the interests of civilization”
List continues to grow
In addition to these highlights, Hamilton Nolan, a writer in newspapers such as The Guardian and In These Times, compared cryptocurrencies to fascism in his article titled “The Time Bomb of Cryptofascism”.
Martin Armstrong, a financial advisor, asked on his blog if the end of cryptocurrencies is coming. In the article, Armstrong talks about regulating these assets as the war in Russia progressed.
“I warned on the private blog that cryptocurrencies may eventually be suspended. The excuse will be Russia […]†
Bitcoin, I live another day
In the end, critics and skeptics have already killed Bitcoin 376 times, but it remains stronger than ever. A good example of this is a famous quote from Hal Finney, which was said in 2011 when BTC was only worth 10 dollars.
“Every day that goes by and Bitcoin does not collapse due to legal or technical issues, it brings new information to the market. It increases Bitcoin’s chances of success and justifies a higher price.”
Source: Live Coins
John Cameron is a journalist at The Nation View specializing in world news and current events, particularly in international politics and diplomacy. With expertise in international relations, he covers a range of topics including conflicts, politics and economic trends.
