⸺ Obituary · February 28, 2018 ⸺

“Cryptocurrency Is A Giant Multi-Level Marketing Scheme”

Quartz

David Ryan Polgar

“That’s not the currency of the future—that’s a giant multi-level marketing scheme. Broadly defined, multi-level marketing schemes work by creating a structure where people are recruited and then incentivized to recruit new members…”

Price at death

$10,310

Today

$62,500

Resurrection

×6.1

On 2018-02-28, David Ryan Polgar (Tech Ethicist) declared Bitcoin dead via Quartz. Bitcoin was trading at ~$10,310 at the time. The call joins the growing canon of premature obituaries.

The declaration was catalogued on February 28, 2018, when one Bitcoin traded for approximately $10,310. Since then, Bitcoin has appreciated by 6.1× relative to the price on the day Quartz pronounced it finished.

Read the original →

← Earlier death

“World's Largest Asset Manager Says Get Ready To Stomach Complete Losses In Cryptocurrencies”

Later death →

“A Decade From Now, Bitcoin Is More Likely To Be $100 Than $100,000, Harvard Economist Says”

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