I must confess that up until about sometime in 2015 I was a Bitcoin skeptic. I can recall making reference to Bitcoin as “digital Chuck E. Cheese tokens” back then more than once. It was out of ignorance. I hadn’t read Satoshi Nakamoto’s whitepaper. I didn’t do any digging at all into the first decentralized currency of its kind. What changed my mind was a conversation I had with a gentleman who had his masters degree in economics. He was not a tech guy. Nor was he the type of person who seemed to hop on trends. He explained to me why he was so bullish on Bitcoin and cryptocurrencies in general. After that conversation I began to do more reading and went from the king of crypto skepticism to more positive on Bitcoin, cryptocurrencies, and decentralized apps (DApps) in general.

Abandoned Chuck E. Cheese animatronic found in a landfill pic.twitter.com/Rtko0VHHgd

— Diane Doniol-Valcroze (@ddoniolvalcroze) February 23, 2021

With that confession out of the way, I must admit I’m surprised to hear and read about people hold many of the same views I did about Bitcoin over 5 years ago. Despite BTC crushing a $50k USD price, despite surviving numerous setbacks, despite the growing mainstream finance acceptance, there are plenty of Bitcoin critics pronouncing the death of Bitcoin. Even in tech, based on conversations I’ve had with people over the past 18 months or so and what I read and hear, there are no shortage of critics. Of course, if everyone was on board the crypto train, then I’d be even more concerned. We need critics, so long as they are using rational thought to combat potential hysteria. However, most of the arguments made are no more well thought out than my old “digital Chuck E. Cheese tokens”, even when it sounds as if a more sophisticated stance is being taken.

Sometimes I wish those predicting the demise of Bitcoin would be honest enough to say, “I don’t like the idea of any currency outside of government control. I don’t see how it can succeed, even though it continues to do just that.” Could Bitcoin go to zero (aka “die”)? Sure, anything is possible. But to hold strong to the bet that Bitcoin will go away even as it gets stronger over the years does not appear to be a winning hand.