“The belief or hope that there will always be a greater fool wanting to buy is supposed to be underwritten by bitcoin’s “limited edition” status – a limited number can be produced. Which makes bitcoin buyers more like stamp collectors – or perhaps rare coin collectors.”
Michael Pascoe, Financial Journalist · Bitcoin since: +457%
As published by The Sidney Morning Herald
A little perspective.
Bitcoin on that day$14,428December 29, 2017
$100 at that price$556.81At 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.
Keep the receipt.
Bitcoin Is Dead. “Why Bitcoin Investors Are Like Stamp Collectors” — Michael Pascoe, The Sidney Morning Herald, December 29, 2017. Bitcoin: $14,427.87. https://bitcoindeaths.com/posts/2017-12-29-why-bitcoin-investors-are-like-stamp-collectors