Bitcoin obituary💲😴

The infamous “Bitcoin Obituaries” has seen another

addition to the long list of deaths since bitcoin’s oldest

death on December 15, 2010. According to the list of

articles with 382 deaths to-date, bitcoin was declared

dead again on September 4, 2020.

Ever since Satoshi Nakamoto released the decentralized

network, a number of people have doubted bitcoin and

over the years some individuals have deemed the project

“dead.”

Famous people, journalists, economists, luminaries, and

many more have written long-winded essays on why the

cryptocurrency is sure to fail. The website 99 Bitcoins

maintains a list of “Bitcoin Obituaries ” collected over the

years and so far there’s been 382 deaths in total.

This past weekend the crypto economy slid in value

considerably, as a number of digital currencies lost

between 15-35% during the last seven days. Out of the top

ten coins in terms of market capitalization, binance coin

(BNB) staved off the market rout by only losing 12% and

bitcoin (BTC ) lost a touch over 16%.

The rest of the top ten crypto assets lost a much larger

percentage, as coins like ETH and DOT lost close to 30%.

Despite this, another bitcoin obituary was listed on

September 4, when BTC dropped to $10,500 per coin.

The death stems from a post written by James Royal who

titled the article: “Bitcoin is Worthless in Long-term. ” Royal

says that even Warren Buffet won’t go near the crypto

asset and BTC must be a bubble.

“In contrast, bitcoin or other digital currencies are very

likely worthless in the long term, and those are the kind of

assets that investing legend Warren Buffet won’t touch,”

Royal writes. “It’s these latter kinds of assets that have a

greater chance to be in bubble territory because they don’t

generate cash flow to support their valuations.”

Of course, most crypto proponents understand that bitcoin

is not dead and the digital asset has seen much bigger

losses than a mere seven-day 16% cut. In fact, the “Bitcoin

Obituaries” list has gotten lighter over the years, as 2020

has only seen three deaths total with Royal’s piece

included.

2017 saw the greatest number of bitcoin deaths with 124

that year, but it dropped to 93 in 2018. The bitcoin

obituary metric then chopped in half in 2019, as last year

only saw 41 deaths.

2020 has been a crazy year, in general, with the faltering

global economy and Covid-19 outbreak that plagued the

world. Despite this tumultuous year, 2020’s death list, at

least so far, is much lighter than most years and could

compare to 2010, 2011, 2012’s single-digit numbers.