Over the last decade, bitcoin has been quite successful in proving its critics wrong over and over again. The CEO of CoinCorner crypto exchange, Danny Scott tweeted, saying that the first website to declare Bitcoin dead from 2010 now no longer exists. Despite critics calling bitcoin a scam, Ponzi scheme, rat poison, the leading cryptocurrency is still alive and kicking stronger than ever before. Bitcoin is scheduled to undergo third scheduled halvening. According to the Bitcoin Obituary page, the leading cryptocurrency has been proclaimed dead 380 times since it came into existence in 2008.
Bitcoin is racing towards mainstream adoption.
Since its inception, the leading cryptocurrency bitcoin has come a long way, defying its critics along the way on each turn. The first time bitcoin was declared dead was on December 15, 2010, when The Underground Economist published an article titled “Why Bitcoin can’t be a currency.” Ironically, The Underground Economist no longer exists on the world wide web. However, the Wayback Machine has an archive of this article.
Bitcoin has been declared dead several times by its critics, but in reality, the leading cryptocurrency is gradually racing towards the mainstream adoption as people open up to the idea of currency of the internet.
Reminder: As #Bitcoin approaches $10,000 it’s alive and kicking stronger than ever.
The first website to declare Bitcoin dead from 2010 no longer exists 🤷🏻♂️
Don’t dismiss the honey badger pic.twitter.com/emXHKWYs1A
— Danny Scott (@CoinCornerDanny) May 8, 2020
Bitcoin to undergo third scheduled halvening next week.
The leading cryptocurrency is currently trading at just below $9,700, up nearly 10% in the last seven days. Bitcoin has a market capitalization of over 176 billion USD. The third halvening event is scheduled to take place on May 12 next week. The halvening of bitcoin would reduce the supply of new coins mined in half. Currently, the reward of each block mined is 12.5 BTC, and post halvening it would be reduced to 6.25 BTC. Unlike fiat currencies, bitcoin can not be created out of thin air limitlessly. There can only be 21 million BTC in existence. The leading cryptocurrency has come a long way in the last decade despite so many hurdles in the way.
