Nassim Taleb Calls Bitcoin Detector of Imbeciles

Jan 05,2023
Nassim Taleb Calls Bitcoin Detector of Imbeciles

Nasim Niederp Taleb, the acclaimed creator of Black Swan, recently shared his views on bitcoin in the New York Times.An interviewL'Express describes it as a "fool's detector".

Taleb felt that BTC could not achieve its overall goal of becoming a blockchain technology to lend money and store value.

According to Taleb, it is vulnerable to inflation and cannot prevent the gray rhino incident.

The trend around cryptocurrencies can be attributed to near-zero interest rates, as investors looking forward to risk-free investments find his opportunities are limited. Therefore, this is also promoting speculation, not "real financial industry".

Credit Card

He mentioned a state of mind that can be described as a deep-rooted Ponzi scheme in the field of technology, which refers to enterprises with no cash flow and relatively stable potential accounting.

At first, Taleb Yellen focused more or less on cryptocurrency because she criticized the fiscal policy of the former Federal Reserve.Ben BernankeAfter the predicament of 2008. But now he feels that digital money is becoming more and more attractive to manipulators and fraudsters, who find a haven in their hearts, deceive unguarded investors, and are fooled by easy and over-profitable performance pledges.

Nevertheless, if one day the management system becomes more and more regulated and more serious and honest, it is not hard to imagine that digital money could become a better alternative to traditional finance.