“It is a mathematical fact that when the price of bitcoins goes to zero, this zero-sum game will have completed its circle. Every dollar of profit that anyone made trading bitcoins will be matched by the losses of other bitcoin traders.”
Gary Smith, Professor, Pomona College · Bitcoin since: +1,190%
As published by RealClear Markets
A little perspective.
Bitcoin on that day$6,218July 13, 2018
$100 at that price$1,290At our latest price check
Illustrative value using a Bitcoin price of $80,235, checked Oct 29, 2026, 11:59 AM UTC. Excludes fees, taxes, and inflation. A price change alone does not settle the original criticism.
Gary Smith appears in 2 recorded obituaries. 74 declarations were recorded in 2018.
Keep the receipt.
Bitcoin Is Dead. “With The Con That's Bitcoin, There's No There There” — Gary Smith, RealClear Markets, July 13, 2018. Bitcoin: $6,217.61. https://bitcoindeaths.com/posts/2018-07-13-with-the-con-thats-bitcoin-theres-no-there-there