“Decentralization requires a process of intensive validation in the consumption of resources, which reduces system efficiency. In contrast, centralized systems with an intermediary trusted by the parties allow the design of much simpler and cheaper systems.”
Carlos Conesa, Deputy General Director, Spain's Central Bank · Bitcoin since: +1,890%
As published by Bitcoinist
A little perspective.
Bitcoin on that day$3,386February 7, 2019
$100 at that price$1,990At our latest price check
Illustrative value using a Bitcoin price of $67,395, checked Nov 14, 2026, 3:27 AM UTC. Excludes fees, taxes, and inflation. A price change alone does not settle the original criticism.
Keep the receipt.
Bitcoin Is Dead. “Bitcoin Inefficient As Large-scale Payment System” — Carlos Conesa, Bitcoinist, February 7, 2019. Bitcoin: $3,385.97. https://bitcoindeaths.com/posts/2019-02-07-bitcoin-inefficient-as-large-scale-payment-system