Connect with us


“Bitcoin has zero value and has already failed,” former Black Swan trader and author made a loud statement



American writer, statistician and former trader and risk manager Nassim Nicholas Taleb, author of the economic bestsellers Black Swan (2007) and Risking Our Own Skin. The Hidden Asymmetry of Everyday Life ”(2018), stated that Bitcoin had failed. He believes that the largest cryptocurrency by market capitalization failed to satisfy the perception of it as a currency without government and as a safe investment haven: “Few assets in financial history have been more fragile than Bitcoin.”

In his latest article, Taleb, who has previously spoken more favorably about bitcoin, stated that bitcoin has “zero value” in part because it requires continued interest to sustain it. At the same time, gold and other precious metals are generally maintenance-free and do not degrade over time.

Taleb noted that Bitcoin tends to respond to liquidity and that it is unclear what will happen if even a regional blackout occurs on the Internet, especially if it happens during a financial crash. Taleb noted that Bitcoin has maintained extremely high volatility ranging from 60% to 100% “throughout its life.”

Indeed, it is advisable to have at least one real currency without government. But the new currency should be more attractive as a store of value by tracking a weighted basket of goods and services with minimal error.

Nassim Nicholas Taleb

As we previously reported, the creator of Dogecoin compares the cryptocurrency industry to a scam controlled by a powerful cartel of rich people for their own benefit.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


Latest News

Phones3 hours ago

Honor Magic 3 overtook all Androd smartphones in performance even before the announcement

Honor is preparing for the announcement of the new flagship series of smartphones Honor Magic 3, but so far the...

Electric Cars3 hours ago

Volkswagen says goodbye to Passat, switching to electric vehicles in the US

Volkswagen has announced that production of the popular Passat sedan with a traditional internal combustion engine in the United States...

Components3 hours ago

Google Drive can now block spammers

Google has announced the launch of a new feature of the Google Drive cloud service (Google Drive), which will delight...

Electric Cars3 hours ago

Chery unveils new generation Chery QQ electric hatchback

Chery has finally announced the third generation Chery QQ hatchback, showing real photographs of the car. The new car is...

News4 hours ago

Pergear 60mm f / 2.8 Macro Lens for 2x Zoom

Pergear has announced a 60mm f / 2.8 manual focusing lens for APS-C mirrorless cameras. It comes in variants with...

Wearables4 hours ago

Google almost launched YouTube Music for Wear OS smartwatches

Google first introduced an update to Google Play for Android and Wear OS. With this update, the public has a...

Phones4 hours ago

New wave of COVID-19 in Southeast Asia forces TrendForce to downgrade smartphone shipments forecast for the year

In April and May, the incidence of COVID-19 in India and Vietnam went up. Analysts at TrendForce believe that the...

Phones4 hours ago

Without waiting for MIUI 13: RAM expansion has already appeared for Xiaomi Mi 11 and Mi 10, Redmi K40, while in test form

Xiaomi has begun to distribute the Memory Extension function for a whole line of Xiaomi, Redmi and Poco smartphones. Memory...


Most Popular