“Although I think that Bitcoin is ingenious and fascinating in many ways, I don’t believe that it will succeed as a currency. The problem is that a Bitcoin is unlikely to ever be a good store of value (a primary function of any widely accepted currency) because the (eventually) fixed money supply will cause the purchasing power of a Bitcoin to be extremely volatile.”
calcinv · Bitcoin since: +544,390%
As published by The Calculating Investor
A little perspective.
Bitcoin on that day$13.95July 13, 2011
$100 at that price$544,490At our latest price check
Illustrative value using a Bitcoin price of $75,956, checked Nov 7, 2026, 3:01 PM 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” — calcinv, The Calculating Investor, July 13, 2011. Bitcoin: $13.95. https://bitcoindeaths.com/posts/2011-07-13-why-bitcoin-will-fail-as-a-currency