“And so the whole bitcoin system eventually becomes a house of cards, and anything – a scandal, a government attack, whatever – could trigger a loss of confidence leading to a run that brings it all down. . . . There will be a stampede for the exit, the price of bitcoin will drop to its intrinsic value – zero – and the system will collapse. The only question is when.”
Kevin Dowd, Economist · Bitcoin since: +22,471%
As published by City A.M.
Bitcoin Is Bust: Why Investors Should Abandon The Doomed Cryptocurrency ↗
A little perspective.
Bitcoin on that day$337.14November 5, 2014
$100 at that price$22,571At our latest price check
Illustrative value using a Bitcoin price of $76,097, checked Nov 6, 2026, 11:37 AM UTC. Excludes fees, taxes, and inflation. A price change alone does not settle the original criticism.
Kevin Dowd appears in 4 recorded obituaries. 24 declarations were recorded in 2014.
Keep the receipt.
Bitcoin Is Dead. “Bitcoin Is Bust: Why Investors Should Abandon The Doomed Cryptocurrency” — Kevin Dowd, City A.M., November 5, 2014. Bitcoin: $337.14. https://bitcoindeaths.com/posts/2014-11-05-bitcoin-is-bust-why-investors-should-abandon-the-doomed-cryptocurrency