There are now twice as many “Bitcoin deaths” in 2021 compared to the 2020 BTC obituary list – Bitcoin News

Bitcoin has lost 45% in value since the all-time high (ATH) in crypto assets three months ago, and the downward movement has sparked significant speculation about yet another bear market. Other skeptics believe Bitcoin has died as the website that hosts Bitcoin obituaries states that Bitcoin deaths in 2021 have doubled compared to all Bitcoin obituaries in 2020.

Bitcoin has died 29 times this year, according to skeptics

Bitcoin’s price (BTC) is lower than it was three months ago, when the crypto asset hit an ATH of $ 64,895 per unit about 90 days ago. Since then, BTC has been consolidating above the $ 30,000 region and many are unsure of what prices will come next.

Then there are those who are certain that Bitcoin is dead, or at least preparing for its own funeral, believing that its value is certain to go to zero. The notorious Bitcoin obituary website hosted on 99bitcoins.com shows off those kind of “Bitcoin is dead” skeptics who have been writing Bitcoin philosophies since 2010.

Bitcoin obituaries have doubled in 2021 from last year, suggesting that critics are more willing to pounce on the crypto-asset market slides. In 2020, 99bitcoins.com recorded 14 bitcoin deaths, and today there are 29 deaths for 2021.

To date, there are about six months left to 2022, and this year’s BTC death record could rival years like 2019 (41) and 2015 (39). It will take many deaths for Bitcoin to hit its record high in 2017, when 99bitcoins.com recorded 124 deaths.

There are now twice as many
Bitcoin obituaries for 2021 on June 30, 2021. Bitcoin has died 29 times so far this year, while Bitcoin has died 14 times in 2020. From 2010 to the last day of June, Bitcoin has died 422 times, according to statistics from 99bitcoins.com.

The very first Bitcoin obituary was recorded on December 15, 2010, and the author’s decade-old eulogy was “Why Bitcoin Can’t Be Currency”. Fast forward to today and Bitcoin only died recently on June 21st when renowned author Nassim Nicholas Taleb wrote a Summary of Bitcoin’s Faults called “BTC is worth exactly zero”.

“In its current version, despite the hype, Bitcoin failed to qualify as ‘currency without a government’ (it turned out to be not even a currency), cannot be a store of value either in the short or long term (its The Expected Value is not higher than 0), ”said Taleb.

“[Bitcoin] cannot act as reliable inflation protection and, worst of all, is not even remotely a safe haven for one’s own investments, not a shield against state tyranny or a stern protection instrument for catastrophic episodes, ”the“ Black Swan ”novelist emphasized.

On Youtube, the economist Maurice Hoefgen gives the web portal for Bitcoin obituaries his next death, which precedes Taleb’s devastating criticism. Hoefgen said in his interview with DW News on June 17 that Bitcoin does not have any good properties of money. The economist is firmly convinced that “Bitcoin will fail in the long term”.

The 27 other Bitcoin obituaries in 2021 all have similar reasons as to why BTC is resting in its coffin preparing for a funeral. Reasons such as volatility, scarcity, speculation, hype, criminal use, state raids and environmental arguments are the main points of discussion in these eulogies.

The economist Paul Krugman and the author JP Koning do not believe that Bitcoin is dead, but now consider it a “natural Ponzi system”

Many bitcoiners would say that bitcoin is not dead. However, it is guaranteed to be questioned and viewed as a complete failure by pessimists who do not understand Satoshi’s creation.

Even the fax machine-loving Nobel Prize winner and economist Paul Krugman dealt with the crypto asset this week. Krugman did not say that BTC was dead, but referred to JP Koning’s criticism and called it a natural Ponzi scheme.

“Nice essay on Ftalphaville,” Krugman said. “Bitcoin has clearly missed its mission to become money, but its value remains because it has become a kind of natural Ponzi scheme.” However, not all of Krugman’s borrowed assessment from Koning’s essay appreciated.

“Honest question: is there an example of a Ponzi scheme that had a second major rally for new ATHs after the collapse of the initial growth phase?” Shapeshift founder Erik Voorhees asked in response to Krugman’s tweet.

What do you think of the doubling of bitcoin obituaries in 2021? What do you think of Paul Krugman’s statements? Let us know what you think on these topics in the comments below.

Tags in this story

99bitcoins.com, Analysts, Bitcoin, Bitcoin (BTC), Bitcoin Deaths, Bitcoin Obituaries, BTC, BTC Deaths, Dead Bitcoin, Dead BTC, Dead, Economist, Erik Voorhees, JP Koning, Maurice Hoefgen, Nassim Nicholas Taleb, natural Ponzi scheme, Paul Krugman, Ponzi scheme, skeptic

Photo credits: Shutterstock, Pixabay, Wiki Commons, 99bitcoins.com, Twitter, Bitcoin Obituaries,

Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement for any product, service, or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.



source https://bidsfor.me/there-are-now-twice-as-many-bitcoin-deaths-in-2021-compared-to-the-2020-btc-obituary-list-bitcoin-news/

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