“Whether or not cryptocurrncies recover–and I doubt they will–it is clear that their volatility make them unfit to serve as a general medium of exchange. However this lesson will likely be lost on the promoters of cryptocurrency.”
Joseph T. Salerno, Economist and Professor, Pace University · Bitcoin since: +1,125%
As published by MISES
A little perspective.
Bitcoin on that day$6,329September 12, 2018
$100 at that price$1,225At our latest price check
Illustrative value using a Bitcoin price of $77,542, checked Nov 1, 2026, 1:52 AM UTC. Excludes fees, taxes, and inflation. A price change alone does not settle the original criticism.
Keep the receipt.
Bitcoin Is Dead. “The Great Cryptocurrency Crash Of 2018” — Joseph T. Salerno, MISES, September 12, 2018. Bitcoin: $6,328.93. https://bitcoindeaths.com/posts/2018-09-12-the-great-cryptocurrency-crash-of-2018