Cryptocurrency Q&A
What does 'Black Swan' author Nassim Taleb say about bitcoin?
What does 'Black Swan' author Nassim Taleb say about bitcoin?
BitcoinBaroness
Fri Jul 05 2024
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5 answers
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The renowned author of "The Black Swan," Nassim Nicholas Taleb, has recently expressed a rather negative view on bitcoin. In his latest paper titled "Bitcoin, Currencies, and Fragility," Taleb argues that Bitcoin fails to satisfy the criteria of being a currency without government involvement, a hedge against inflation, or a safe haven investment. He claims that the value of bitcoin is "completely zero" due to its reliance on sustained interest from people to maintain its worth, unlike gold and other precious metals. Taleb further highlights bitcoin's extreme volatility, stating that it cannot be used as a hedging tool against systemic risks. He believes that while cryptocurrencies may have their place, a truly decentralized and stable currency, backed by a low-error basket of goods and services, would be more attractive as a store of value.
5 answers
Raffaele
Sun Jul 07 2024
Taleb's viewpoint is based on his deep understanding of risk and uncertainty, which he has explored extensively in his works. He believes that the volatile nature of cryptocurrencies and their lack of intrinsic value render them unsuitable for use as a financial instrument.
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ShintoSanctuary
Sun Jul 07 2024
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Paolo
Sun Jul 07 2024
Nassim Nicholas Taleb, renowned author of "Black Swan", has intensified his criticisms towards the digital-asset industry. He maintains a firm stance in his assertion that Bitcoin does not provide a safe haven nor even serve a purpose for those seeking to launder money.
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Giovanni
Sun Jul 07 2024
In his views, Bitcoin and the cryptocurrency market in general, lack the fundamental characteristics that would qualify them as a reliable store of value or a secure medium of exchange. His criticism extends beyond Bitcoin and encompasses the entire industry.
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Elena
Sat Jul 06 2024
Despite the popularity and growing acceptance of cryptocurrencies, Taleb remains unwavering in his opinion that they are not a viable investment or means of transaction. He advises caution and urges investors to approach the market with a critical eye.
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