Bitcoin’s Media Obituaries: A Year in Review of Skepticism and Decline

The Year of Bitcoin Doomsday

Ah, Bitcoin — that rebellious little currency that just won’t die. It’s almost like the cockroach of the financial world, thriving even when everyone is convinced it’s on its last legs. Last year, media outlets practically lined up to deliver its eulogy. Between January and December, Bitcoin’s price was often the subject of critique, and the headlines were relentless. In 2018 alone, Bitcoin was declared “dead” at least 91 times by weary skepticism-mongers. Let’s dive into these dramatic and often humorous proclamations of Bitcoin’s supposed demise.

January: Predictions from the Pundits

The year started with a bang on January 19, when Nobel laureate Robert Shiller took a sledgehammer to Bitcoin’s rising price of $11,721, suggesting it could “totally collapse.” He likened it to the infamous Tulip Mania, declaring it devoid of value without consensus.

• Quote: “It might totally collapse and be forgotten, but it could linger on for a good long time.” – Robert Shiller

March Madness: Energy Inefficiency Rants

Fast forward to March 5, The Guardian chimed in, unleashing a tsunami of skepticism and claiming Bitcoin was a slow, energy-inefficient dinosaur. With its colorful description, it painted a bleak picture of crypto using an Excel spreadsheet. Well, at least we finally figured out how to use Excel in our favor!

The Buffet Effect: May’s Cryptic Critique

In May, the Oracle of Omaha, Warren Buffett, dodged the niceties and blasted Bitcoin, calling it “probably rat poison squared.” I mean, if that’s not a compliment, I don’t know what is! Buffett’s sidekick Charlie Munger upped the ante, leaving us wondering if crypto is indeed trading in “turds.”

Summer of Skepticism

As the dog days of summer rolled in, the New York Times’ Paul Krugman contributed his skepticism, questioning the practicality of Bitcoin. He claimed cryptocurrencies had made little more than hype and had not made serious inroads into actual commerce. Picture a reluctant teenager trying to explain their unpopularity — it’s hard to take seriously.

Year-End Wrap-up: So, Is Bitcoin Really Dead?

By December, Bloomberg finally declared the obvious: “Yep, Bitcoin Was a Bubble. And It Popped.” It seems that the thrill of speculation took a toll, yet the underlying lesson was a classic reminder for our beloved millennials: if it looks too good to be true, it probably is.

As we reflect on this decadal experience, Bitcoin’s journey is like a rocky relationship; some ups and downs, lots of drama, but somehow still kicking. It’s certainly not the end, or is it? Only time will tell if the headlines will switch from doom to bloom, yet one thing is for sure: Bitcoin will keep us guessing and laughing!