“Because, by design, there will never be more than 21 million Bitcoins in existence. And thanks to hoarding and attrition, we can be sure that it will eventually serve as nothing more than as a collector’s item. . . . I would like to call upon the Bitcoin community to stop referring to it as a digital currency. This is misleading and harmful.”
Tav Siva, Distributed Systems Engineer · Bitcoin since: +324,071%
As published by Tav's Blog
A little perspective.
Bitcoin on that day$23.92June 7, 2011
$100 at that price$324,171At our latest price check
Illustrative value using a Bitcoin price of $77,542, checked Nov 1, 2026, 5:58 AM UTC. Excludes fees, taxes, and inflation. A price change alone does not settle the original criticism.
Keep the receipt.
Bitcoin Is Dead. “Why Bitcoin Will Fail As A Currency” — Tav Siva, Tav's Blog, June 7, 2011. Bitcoin: $23.92. https://bitcoindeaths.com/posts/2011-06-07-why-bitcoin-will-fail-as-a-currency