“Bitcoin, while not officially a product of traditional Wall Street, is a pyramid scheme. A fraud. But it is best described as a “confidence game.” I’ve been calling it a “bitcon” for a long time. And now the pyramid seems to be collapsing because fewer and fewer people have confidence that the price of this inherently worthless “cryptocurrency” is going to continue to rise.”
John Crudele, Columnist · Bitcoin since: +2,050%
As published by NYPost
A little perspective.
Bitcoin on that day$3,761November 26, 2018
$100 at that price$2,150At our latest price check
Illustrative value using a Bitcoin price of $80,858, checked Oct 29, 2026, 7:52 PM UTC. Excludes fees, taxes, and inflation. A price change alone does not settle the original criticism.
John Crudele appears in 4 recorded obituaries. 74 declarations were recorded in 2018.
Keep the receipt.
Bitcoin Is Dead. “The Bitcoin ‘Pyramid Scheme’ Continues To Collapse” — John Crudele, NYPost, November 26, 2018. Bitcoin: $3,761.42. https://bitcoindeaths.com/posts/2018-11-26-the-bitcoin-pyramid-scheme-continues-to-collapse