Bitcoin a failure?

Mark Hearn, a former developer and evangelist for Bitcoin, recently had this to say in an article written by him on what he sees as the upcoming failure of Bitcoin:

But despite knowing that Bitcoin could fail all along, the now inescapable conclusion that it has failed still saddens me greatly. The fundamentals are broken and whatever happens to the price in the short term, the long term trend should probably be downwards. I will no longer be taking part in Bitcoin development and have sold all my coins.

Source: The resolution of the Bitcoin experiment — Medium

I’ll take his word that Bitcoin is a failure, I never had much faith in its long term solvency anyway. What I’m curious about is how he can justify from an ethical standpoint selling a commodity that he is convinced is now, or will soon be, worthless with no possibility of regaining any value?

 

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