⸺ Obituary · August 6, 2019 ⸺
“Bitcoin’s Fatal Flaw: The Limited Adoption Problem”
— SSRN, Franz J. Hinzen, Kose John, & Fahad Saleh
“Bitcoin remains sparsely adopted even a decade after its birth. We demonstrate theoretically that this limited adoption arises as an inescapable equilibrium outcome rather than as a transient feature.”
Price at death
$11,467
Today
$73,594
Resurrection
×6.4
On 2019-08-06, Franz J. Hinzen, Kose John, & Fahad Saleh (Grad Students, NYU) declared Bitcoin dead via SSRN. Bitcoin was trading at ~$11,467 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on August 6, 2019, when one Bitcoin traded for approximately $11,467. Since then, Bitcoin has appreciated by 6.4× relative to the price on the day SSRN pronounced it finished.