⸺ Obituary · December 28, 2017 ⸺
“The Great Bitcoin Scam”
Jay Adkisson
“The only difference between Bitcoin No. ABC123 and $1 Bill No. L88793293J is that at the end of the day, the $1 bill physically exists and has a face value that is worth something. Fred could take the $1 bill and buy something off the $1 menu at McDonalds….By contrast, Bitcoin has no intrinsic value — it is just a number. The number may have an agreed value between two parties, but the number itself has no value.”
Price at death
$14,429
Today
$62,500
Resurrection
×4.3
On 2017-12-28, Jay Adkisson (Attorney) declared Bitcoin dead via Forbes. Bitcoin was trading at ~$14,429 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on December 28, 2017, when one Bitcoin traded for approximately $14,429. Since then, Bitcoin has appreciated by 4.3× relative to the price on the day Forbes pronounced it finished.