Amid falling bitcoin prices and further scandal surrounding the world's most valuable cryptocurrency, author and financial commentator Jeffrey Robinson has told IBTimes UK that bitcoin is "dying" and will be remembered "much like Pogs and the Sinclair C5".

Robinson, author of BitCon: The Naked Truth about Bitcoin, claims that the lack of intrinsic value behind the altcoin makes it neither a currency nor a commodity and that the entire system is held together by either people with a vested interest in seeing prices go up, or fools.