“And, in the greater scheme of things, bitcoin is small: even at a roughly 10 billion dollar market capitalization it is almost irrelevant in financial terms. This is probably roughly the peak market capitalization achieved by Beanie Babies in 1999. There are indeed important and valuable ideas that exist in bitcoin’s design. But bitcoin itself? I believe its volatility and built-in irreversibility will doom it to the ash-heap of history.”
Nicholas Weaver, Professor, UC Berkeley · Bitcoin since: +8,834%
As published by Wired
Once You Use Bitcoin You Can’t Go ‘Back’ — And That’s Its Fatal Flaw ↗
A little perspective.
Bitcoin on that day$899.20November 26, 2013
$100 at that price$8,934At our latest price check
Illustrative value using a Bitcoin price of $80,335, checked Oct 29, 2026, 5:44 AM UTC. Excludes fees, taxes, and inflation. A price change alone does not settle the original criticism.
Nicholas Weaver appears in 6 recorded obituaries. 20 declarations were recorded in 2013.
Keep the receipt.
Bitcoin Is Dead. “Once You Use Bitcoin You Can’t Go ‘Back’ — And That’s Its Fatal Flaw” — Nicholas Weaver, Wired, November 26, 2013. Bitcoin: $899.2. https://bitcoindeaths.com/posts/2013-11-26-once-you-use-bitcoin-you-cant-go-back-and-thats-its-fatal-flaw