Nassim Taleb, an economic expert, mathematician and author of the book “Black Swan”, was once Bitcoin’s great secret. Now he surprises with a community translation and says, “Bitcoin cannot be a long-term or short-term stock of value. Its expected value is at most zero ”.
The price of Bitcoin covers key issues
As Finanz.net reports, Taleb takes a hard line with digital currency in its essay “Bitcoin, Currencies and Bubbles.” Similarly, the emblem should not be equated with the actual currency. The rise in prices, which has generated huge profits, especially for institutional investors this year, obscured the real features and the key question of whether a virtual coin is a useful means of payment at all.
Compared to gold or one Investments in immovable property Bitcoin can also hardly be used as a storehouse of value. In addition to high volatility, the high maintenance intensity of the network is primarily responsible for this. While precious metals simply justify their value by their existence, the price of Bitcoin is likely due to the interests of investors. If the entity turns its back on the cryptocurrency, the high BTC should be over.
“Blockchain is not useful”
In February, Taleb expressed himself in critical words on Twitter: “I got rid of BTC […] Why? The currency should never be more volatile than what you buy with it [und] sold. You cannot price goods with BTC ”. A few years ago, an economist was still full of praise for the digital currency. In the preface to Saifedea Ammous’s “Bitcoin Standard,” he testified that virtual currencies had great potential. At the time, he saw an “excellent idea” in that a cryptocurrency could exist regardless of regulation or external interference.
So now the tide has turned to the Taliban and the underlying blockchain technology is also gaining weight. According to Finanz.net, he sees no benefit: “There is no evidence that we get good technology – unless ‘great technology’ means ‘useful’.”
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Photo: Scott Rodgerson