[olalonde]

If this article interested you, you might like https://99bitcoins.com/bitcoinobituaries/.

And here's more or less the same article from 2013 when price was $84: https://whistlinginthewind.org/2013/04/12/the-bitcoin-bubble...

"So what now for bitcoin? It will crash and disappear like Pets.com, Leheman Brothers and Anglo Irish Bank, existing only in the memories of economists."

"There have been some slight recoveries which have given hope to bitcoinites. They cling to the hope that this is only a correction and that bitcoin will bounce back stronger than ever. They fail to realise that all crashes include a slight recovery followed by another crash."

I'm not saying the author is necessarily wrong, just highlighting the fact that no one knows what the hell they're talking about or what's going to happen.

[saalweachter]

I will say, as a Bitcoin "hater", Bitcoin is far more resilient than many things it might be compared to.

With Pets.com or Leheman Brothers, there was a corporate structure that could stop existing. It could go bankrupt, the C-executives could be arrested, something could happen beyond which it'd be fair to say it was over.

With Bitcoin, you could have all of the exchanges go defunct, you could have 99% of the miners close up shop, and as long as a few people kept the blockchain going, a few years later it could be back, the same as before.

[nkrisc]

Or just continue on being useful to a small fraction of people. It doesn't have to be this massive market.

[therein]

In case of a massive and rapid reduction in the number of miners and therefore the network hashrate, it would take Bitcoin network difficulty too long to adjust to be useful in short term.

[xapata]

How is that different than the folks from pets.com starting a new company, like wag.com?