Nassim Nicholas Taleb, who made a name for himself in the economics and investment community with his book “The Black Swan Effect,” criticized the virtual currency Bitcoin as a “nickname” and argued that Bitcoin is too volatile to be an It is not an effective currency, and is not a safe hedge against inflation.
Taleb pointed out that there is essentially no correlation between inflation and bitcoin, and that even with hyperinflation, bitcoin could still fall to zero. He also argued that while the system is well established, there is absolutely no reason why it could be related to the real economy, and said outright that bitcoin has the characteristics of a Ponzi scheme.
In fact, Taleb was once bullish on bitcoin, but he said he was initially deceived into thinking that it would develop into a currency that could be used for trading, however, he said something whose price would fluctuate by 5% in a day and 20% in a month could not be a currency. He claims that he eventually discovered that Bitcoin is not a currency without government regulation, but is pure speculation and just a game, just like anyone can create a game later named currency.
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