Oh the memories.... June 2011

No, the doesn't necessarily mean the end of the Bitcoin experiment, but it's a pretty good indication of it. For there are certain things that we want from a currency. A medium of exchange, a store of value, we'd also like to it be liquid and security is important as well. No currency can have all of these features (and humans have used some pretty odd things as currency over the centuries, from copper sheets to cowrie shells via butter, salt, gold, silver and even pieces of paper with Dead Presidents on them, surely the final lunacy?) to perfection but a currency which doesn't have any of them in appreciable quantities isn't going to last very long.

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?

Source: https://www.forbes.com/sites/timworstall/2011/06/20/so-thats-the-end-of-bitcoin-then/#6e506daf5d71