According to the mainstream press, Bitcoin has died…Many, many times. That’s why Jordan Tuwiner started Bitcoin Obituaries – to compile the many obituaries which have been written about the nascent cryptocurrency Bitcoin.
He had noticed a preponderance of articles claiming Bitcoin would soon be gone..
“I wanted to collect the articles and make a monument showing Bitcoin’s resilience. I knew the site would be funny, but also shows Bitcoin’s strength over time,” Tuwiner told Cryptocoins News.
Tuwiner’s favorite obituary is called “So, That’s the End of Bitcoin Then”. The obituary states:
“Bitcoins aren’t secure, as both the recent theft and this password problem show. They’re not liquid, nor a store of value, as the price collapse shows and if they’re none of those things then they’ll not be a great medium of exchange either as who would want to accept them? . . . It’s difficult to see what the currency has going for it.”
“Bitcoin is up 1,590% since this obituary was published,” Tuwiner tells CCN.
As for who would want to accept them?
“Microsoft, Newegg, Overstock,” he points out.
Tuwiner has found a common thread from one obituary to the next.
“The authors have no understanding of how Bitcoin works or basic economics,” he tells CCN. “Take the first sentence from the obituary above: ‘Bitcoins aren’t secure, as both the recent theft and this password problem show.’ Bitcoin itself is quite possibly the most secure currency in history. You can securely store it yourself. Third party exchanges lead to theft. Not Bitcoin.”
In another obituary from 2011, Why Bitcoin Will Fail as a Currency, the author claims: “And thanks to hoarding and attrition, we can be sure that it will eventually serve as nothing more than a collector’s item.”
Jordan doesn’t it see it this way.
“Bitcoin would be worthless without ‘hoarders.’ Hoarders prevent Bitcoin from becoming a collector’s item,” he says.
With 71 obituaries currently published on the website, Tuwiner expects there will be many more. Individuals are encouraged to send in obituaries they’ve found through the website’s submit page.
The first Bitcoin death, according to Tuwiner, was December 15, 2010. Salon, Wired, Financial and Business Insider have all written the most amount of Bitcoin obituaries.
People have liked his idea.
“The response has been overwhelmingly positive. BO has been on the front of /r/bitcoin a bunch of times, and featured on CNN, The Guardian, CNBC, and Engadget.”
Tuwiner recently launched No Third Party. He defends Bitcoin to this day, despite having a keen insight of Bitcoin’s many deaths…
“The beauty of Bitcoin is that there is no barrier to entry,” he tells CCN. “Anyone in the world can join and use the Bitcoin network. A Bitcoin wallet is the gateway to the network.”
Thus, he continues his work in Bitcoin with No Third Party.
“NTP’s wallet overviews explain each wallet’s features, with a focus on privacy and security. It needs to be easy for users to understand how their money and identity are protected.”
What has he learned from all the Bitcoin obituaries?
“The most important thing to take from Bitcoin Obituaries is: don’t panic,” Tuwiner said.
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