Imagine predicting Bitcoin’s death on a website that no longer exists.
That’s what blogger Sean Lynch did 13 years ago today, when he wrote what 99 Bitcoins now classifies as the world’s first “Bitcoin obituary,” a news article that predicted the cryptocurrency’s death or demise.
The post, titled “Why Bitcoin can’t be a currency,” argued that Bitcoin lacked the mechanisms to handle fluctuations in demand, which would lead it to become worthless over time. He wrote:
“In nature, positive feedback loops like exist with Bitcoin are lethal; the only thing that’s even kept Bitcoin alive this long is its novelty. Either it will remain a novelty forever or it will transition from novelty…
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