“So when I ask “What is bitcoin good for?” the answer I come up with is “not enough to justify anything like these valuations.” There are all sorts of interesting applications for cryptocurrencies and blockchains. But unless they become a global currency, or a global payment system, I don’t see why, 50 years from now, anyone is going to be willing to pay tens of thousands of dollars to get their hands on one.”
Megan McArdle, Economics Writer, Bloomberg · Bitcoin since: +338%
As published by Bloomberg
A little perspective.
Bitcoin on that day$15,378December 27, 2017
$100 at that price$438.25At our latest price check
Illustrative value using a Bitcoin price of $67,395, checked Nov 14, 2026, 3:28 AM UTC. Excludes fees, taxes, and inflation. A price change alone does not settle the original criticism.
Megan McArdle appears in 2 recorded obituaries. 93 declarations were recorded in 2017.
Keep the receipt.
Bitcoin Is Dead. “Bitcoin Is An Implausible Currency” — Megan McArdle, Bloomberg, December 27, 2017. Bitcoin: $15,378.29. https://bitcoindeaths.com/posts/2017-12-27-bitcoin-is-an-implausible-currency