⸺ Obituary · January 24, 2018 ⸺
“Bitcoin’s Zero-Sum Game”
John Quiggin
Photo: John Quiggin (CC0), via Wikimedia Commons
“Since bitcoins are not useful as a medium of exchange, or desirable in themselves, their true value is zero.”
Price at death
$11,400
Today
$62,500
Resurrection
×5.5
On 2018-01-24, John Quiggin (Professor, University of Queensland) declared Bitcoin dead via Inside Story. Bitcoin was trading at ~$11,400 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on January 24, 2018, when one Bitcoin traded for approximately $11,400. Since then, Bitcoin has appreciated by 5.5× relative to the price on the day Inside Story pronounced it finished.
