11 years ago, Bloomberg calls Bitcoin soon to be extinct

[btc_angela]

https://www.bloomberg.com/view/articles/2013-12-31/bitcoin-is-a-high-tech-dinosaur-soon-to-be-extinct

Perhaps even back then, and to now, media they have been writing off Bitcoin, not just Bloomberg but like Forbes.
But for sure we wouldn't mind, as some of us is quietly accumulating Bitcoin throughout the years so who gives a f**k about this news media.
Or better yet, we should understand where they are coming from as they are into Gold and other other assets.

[notocactus]

Perhaps even back then, and to now, media they have been writing off Bitcoin, not just Bloomberg but like Forbes.
But for sure we wouldn't mind, as some of us is quietly accumulating Bitcoin throughout the years so who gives a f**k about this news media.
Or better yet, we should understand where they are coming from as they are into Gold and other other assets.

Do we need them?

Maybe we need them, maybe not, and we can not agree with each other on this perspective so I don't argue about it here. But let's say a fact that if Bloomberg can change themselves and turn from anti-Bitcoin to pro-Bitcoin or just neutral, it's good for Bitcoin.

I don't need to know actual motivational reasons behind this narrative change of Bloomberg but on top of that, I am sure that Bitcoin will get some benefit from this, and it's enough.

Bloomberg can not stay outside the common trend.
Bitcoin is not dead but it was called as dead 450+ times. The trend of "Bitcoin is dead" is downward.

[seoincorporation]

As linus used to say:

Talk is cheap, show me the code.

Those Who think bitcoin is a bubble or it's about to extinct is because they doesn't understand the nature of blockchain. They don't understand how It was created to survive, and if there is a node running the blockchain will keep walking.

[_act_]

There were many people that talked bad about bitcoin in the past. Even Michael Saylor was one of them. He talked about bitcoin before he later realized that bitcoin is not what he thought it was. He later knew bitcoin is the currency of the future. I will not be surprised to see something like this in 2013 but all of them have seen where bitcoin has gotten to.

[Justtoons]

https://www.bloomberg.com/view/articles/2013-12-31/bitcoin-is-a-high-tech-dinosaur-soon-to-be-extinct

Perhaps even back then, and to now, media they have been writing off Bitcoin, not just Bloomberg but like Forbes.
But for sure we wouldn't mind, as some of us is quietly accumulating Bitcoin throughout the years so who gives a f**k about this news media.
Or better yet, we should understand where they are coming from as they are into Gold and other other assets.

True, many in traditional finance favor gold.  But Bitcoin offers advantages such as programmability, decentralization, and a fixed supply, which gold lacks. It's not an either/or situation; both can potentially exist as valuable assets .  The media's focus on gold often reflects a misunderstanding or a deliberate downplaying of Bitcoin's unique properties.

[Hagart]

How many media have attacked Bitcoin over all these years? Many... The irony of this matter is that these media have had to eat their words over the years, as well as many large companies and managers who said that Bitcoin was a bubble, and years later said the opposite while they filled their wallets. That's the old tactic of creating FUD so that people panic and sell their coins so they can buy them cheaper and be able to continue accumulating. That is why I have always thought that the articles that appear in the media should be read between the lines and ignore what they say as a general rule.

[Alphakilo]

Perhaps even back then, and to now, media they have been writing off Bitcoin, not just Bloomberg but like Forbes.
But for sure we wouldn't mind, as some of us is quietly accumulating Bitcoin throughout the years so who gives a f**k about this news media.
Or better yet, we should understand where they are coming from as they are into Gold and other other assets.

Stephen Mihm. Where is this guy who wrote this opinion piece? Does he still think that Bitcoin is a High-Tech Dinosaur soon to be extinct in 2025?
If he were to write about bitcoin again would he still maintain his stance?
Since he wrote that opinion piece about Bitcoin, I have concluded that he's on the same side with Peter Schiff which is the wrong side. A High-Tech Dinosaur soon to be extinct will now about to be adopted as a strategic national reserve.

[MAAManda]

We as Bitcoin (BTC) holders don't need them, they're the ones who need Bitcoin (BTC) so they can create the latest news about this industry. Luckily, there are more people who believe in Bitcoin (BTC) than who don't, thus making Bitcoin (BTC) still exist despite media intervention at that time. Now they're licking their own spit, there are even several companies that have started accumulating Bitcoin (BTC), even though previously they also attacked this asset, one of them is Vanguard.

[Ale88]

Perhaps even back then, and to now, media they have been writing off Bitcoin, not just Bloomberg but like Forbes.
But for sure we wouldn't mind, as some of us is quietly accumulating Bitcoin throughout the years so who gives a f**k about this news media.
Or better yet, we should understand where they are coming from as they are into Gold and other other assets.

Whenever we are talking about investments or some other specific categories I don't even bother reading news from big companies like Bloomberg or Forbes or something similar because they are not expert, their job is to simply write articles and get the clicks. Do they maybe try to sell you something? Yes, of course, because their average reader is someone who doesn't know how to actually do a proper research.

It would be interesting to know what the writer, Stephen Mihm, thinks now since he had the opportunity to buy bitcoin for a few bucks but instead he decided to talk shit about it. He literally saw the biggest train of his life stopping before him and he decided to talk a walk instead of jumping in.

[Text]

They didn’t just underestimate Bitcoin but the broader crypto revolution. They were probably hesitant back then because they were biased toward traditional assets or whatever was in their portfolio. But for us who’ve been quietly accumulating all these years, that’s just noise. Every time they write off Bitcoin it’s another buying opportunity for us. They’ll catch up eventually or maybe not. Either way we’re here for the long game.

[PX-Z]

...They’ll catch up eventually or maybe not. Either way we’re here for the long game.

They already did, they got more readers because bitcoin and altcoins news topics and articles they keep publishing especially for ever every bullrun, which also means more money and profit for their business.

[Fivestar4everMVP]

https://www.bloomberg.com/view/articles/2013-12-31/bitcoin-is-a-high-tech-dinosaur-soon-to-be-extinct

Perhaps even back then, and to now, media they have been writing off Bitcoin, not just Bloomberg but like Forbes.
But for sure we wouldn't mind, as some of us is quietly accumulating Bitcoin throughout the years so who gives a f**k about this news media.
Or better yet, we should understand where they are coming from as they are into Gold and other other assets.

This is just one of the many negative publications on bitcoin, such does not deserve our attention to be honest with you, for bitcoin over the years has proven each and every one of this companies making negative publications and comments against it wrong as we all can see, there is absolutely no need discussion things like this anymore, for even if they were competing against bitcoin with their gold, bitcoin has clearly won, and the loss is theirs because today, bitcoin and gold are both existing and co-habiting, it's their loss because they would have invested in both assets and make profit from both.

But all the same, it's what it is, like I would always say, it is impossible for each and every one of us to believe in bitcoin at the same time, even if we all hear and or read information about it the same time, it is impossible for us all to believe in it at the same time as result of our differences in psychology and mindset, humans think and treat matters differently, so, I am not surprised and won't be if even today, some people still refer to bitcoin as a scam.

[aoluain]

There was very little understanding back then of Bitcoin and I would say that its
only since 2023/2024 did institutional investors realise that they were staring at
the best digital capital.

Talking about Michael Saylor he has done quite a lot to open peoples eyes as to
what exactly Bitcoin can offer to everyone.

I'm sure there are a lot of very confused people who were dead set against Bitcoin
and now find it at $100,000.

[EFS]

This is the author's own opinion, and he isn't an expert or even a famous person in his field. Why should anyone care about the opinion of such a person? The funny thing is that you have to subscribe to bloomberg to read the expert opinion of this "very valuable" person. Otherwise you can't even read this amazing prediction. Okay I'm convinced now, there is no future in Bitcoin. I quit anything about Bitcoin and subscribe to bloomberg ASAP.

[cryptomaniac_xxx]

There was very little understanding back then of Bitcoin and I would say that its
only since 2023/2024 did institutional investors realise that they were staring at
the best digital capital.

Talking about Michael Saylor he has done quite a lot to open peoples eyes as to
what exactly Bitcoin can offer to everyone.

I'm sure there are a lot of very confused people who were dead set against Bitcoin
and now find it at $100,000.

Not sure about that, if you would remember CME and CBoE offers Bitcoin future contracts in 2017, that really catapulted the price to a all time high, almost $20k. So it's not like  that institutional investors re-discovered Bitcoin's potential, some of them are ahead of the game. It's that when Michael Saylor becoming the preacher of Bitcoin and his company the Bitcoin proxy, suddenly it become the most sought after assets from whales to institutions and now from government itself.

I wonder though what happen to the author, still perma bear after all the years?
Or he jump on the boat later on like 2017 and later? Is he still working with Bloomberg? 

[alani123]

Think about it, it's never unlikely for anything to go extinct.
Bitcoin is nothing without the people to support it.

Thousands upon thousands of cryptocurrencies have come and went. They had the same or even more sophisticated and experimental tech than bitcoin. But just because no one uses them these days, they're worthless.

BTC is the most popular cryptocurrency. Success isn't guaranteed and foreverness is nothing but a concept. BTC will remain standing so long as we support it and use it.
It's decentralized so the support is vital. You can be a miner, you can be a node runner, you can utilize the lighting network but most importantly,  and at least in theory, anyone can develop BTC.

And to this day, hundreds of people go through the painstaking process of developing Bitcoin Core. While some might consider Bitcoin not so technologically advanced, it remains one of the cryptos with the most activity in its development process. But there were points that things looked pretty grim. I won't blame anyone for not believing in Bitcoin. There were times that many of us were too occupied with infighting also.

[ranochigo]

It's important to consider the optics and the circumstances surrounding Bitcoin at that juncture. Bitcoin was effectively banned in China, after several months of China fueling its growth. Everyone was calling it a bubble as prices crashed. Bitcoin's legality was a grey area in pretty much every jurisdiction and governments were not willing to soften their stance on it.

If Bitcoin were to have continued down that path, I doubt Bitcoin would be as big as it is today. Unfortunately, that's the general sentiments of the population back then and they're really not to blame.

[michellee]

We don't have to think much about the news like that. They don't know what Bitcoin can do but they now see Bitcoin shows its power to them. They now amaze and shocks to see the Bitcoin price jump to the high price.

We may see many bad things about Bitcoin in the future but that will not stops Bitcoin to get more popular. Those people don't want to learns more about Bitcoin so they can say bad things about Bitcoin.

Let them see what will happen to Bitcoin and makes them regret why they don't have Bitcoin from a long time ago.

[X-ray]

https://www.bloomberg.com/view/articles/2013-12-31/bitcoin-is-a-high-tech-dinosaur-soon-to-be-extinct

Perhaps even back then, and to now, media they have been writing off Bitcoin, not just Bloomberg but like Forbes.
But for sure we wouldn't mind, as some of us is quietly accumulating Bitcoin throughout the years so who gives a f**k about this news media.
Or better yet, we should understand where they are coming from as they are into Gold and other other assets.

most of these articles in general are just baseless speculation, otherwise if they're so good at predicting those writers would be a billionaire at least.

to be fair at the early years there were so many pessimistic people when it comes to BTC, sometime something is too futuristic the people who lives at that year can't grasp it and it's perfectly normal, same thing happened to internet and see how internet revolutionizes the world, I expect BTC to be the same massive force that will be like internet, eventually change the way financial works.

[tabas]

I guess that's one of the first buying signals ever written in history. People who have a strong belief in Bitcoin will never mind looking at the FUDs back then. Right now, they are still doing it and there will be a lot of people that will be taken again by this bad news if ever media like CNN and Bloomberg keep writing bad articles about Bitcoin. If someone is going to dig through all of these miserable articles, for sure you'll find hundreds if not thousands of it. And they'll be a great piece of history on how the world backlashed Bitcoin many times before.