The 118th Obituary
Every once in awhile I scope out the wonderful 99bitcoins.com site to have a good chuckle. The site continuously finds and posts the latest and greatest “Bitcoin Obituaries” penned by financial elitists.
The 118th Bitcoin obituary is a doozy. On December 8th, the multi-titled hot shot with a highly esteemed MIT degree, Jiri Kram, looked into his crystal ball and predicted Bitcoin’s demise on December 12th. Well, it’s December 30th and Bitcoin’s price has risen from $771 (when he made his proclamation) to $957 as I wrote this post.
Here are some snippets from his propaganda piece (that promotes a centralized, proprietary, cryptocurrency named ForceCoin) that clearly illustrate how ignorant and uninformed Mr. Kram is regarding Bitcoin.
Bitcoin is a fundamentally flawed virtual currency that is inherently volatile and unstable.
Bitcoin is a bubble that like Tulip, South Sea, Dot.com or Subprime will burst.
Bitcoin is not an asset class that can serve as a store of wealth.
Bitcoin is not a secure global virtual currency.
Being the insufferable troll that I am when it comes to elites with inflated craniums, I slipped this turd into Mr. Kram’s punch bowl: