"Why Bitcoin Will Fail As A Currency"

Published in Espians on 2011-06-07, "Why Bitcoin Will Fail As A Currency" declared Bitcoin dead or fundamentally doomed. The piece argued that Bitcoin failed as a functional currency due to extreme price volatility, slow transaction speeds, and limited merchant acceptance. Bitcoin was trading at $24 at the time of publication. Bitcoin had just experienced its first major speculative bubble, surging to $30 before crashing back to single digits.