On February 12, the well-known Lebanese-American critic and risk analyst Nassim Nicholas Taleb announced that the leading digital currency, Bitcoin, has failed at least for now. Taleb’s recent statement disturbed the cryptocurrency fan, because the famous author seemed to have done it 180 times after supporting crypto assets for many years.

These days, Nassim Taleb is not impressed with Bitcoin

Nassim Nicholas Taleb Is a very popular writer, mathematical statistician and scholar. For many years, Taleb has been critical of the current monetary system, the current financial industry, and the recent financial crisis. The philosopher is best known for his books “Black Swan” (2010) and “Anti-fragility: Gain from Chaos” (2012).

After Satoshi Nakamoto released the Bitcoin network, Taleb was initially very optimistic about this emerging technology. Over the years, he has expressed a positive view of digital assets.

Nassim Nicholas Taleb’s recent criticism of Bitcoin seems to have stirred the BTC community, because not long ago, Taleb liked Bitcoin and wrote articles about digital assets with a positive attitude. “[Bitcoin’s] Mere existence is an insurance policy. It will remind governments of all countries that the currency (ie, currency) that the object can control is no longer their monopoly. This gives us the crowd, an insurance policy for an Orwellian future,” Taleb wrote in 2018.

Two years ago, the novelist wrote in an article published on Taleb’s Opacity blog: “It may fail, but we now know what to do,” he explained: “Bitcoin is a good idea. Taleb said that his article was originally a preface to the book written by Saifedean Ammous, but he also emphasized that he did not approve of Saifedean Ammous’s book. Ammous) “Cookies and Conspiracy Theories”. When discussing Bitcoin (BTC), Taleb believed that cryptocurrency was a powerful animal.

Taleb wrote: “It satisfies the needs of a complex system, not because it is a cryptocurrency.” “But precisely because it has no owner and no authority to determine its fate. It belongs to the crowd and its users. Now It has been recorded for several years, enough to make it an animal.”

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In 2021, especially on February 12, Nassim Nicholas Taleb (Nassim Nicholas Taleb) decided to tell the public that he is selling some of his bitcoins. In addition, Taleb criticized many in the crypto community at the end of his tweet.

The famous writer “I have gotten rid of my Bitcoin” Tweet To his more than 705,000 Twitter followers. “Why? There has never been a currency with greater volatility than the currency you are buying [and] Sold with it. You cannot use BTC to price commodities,” said the former options trader.

Taleb further added:

In this respect, this is a failure (at least for now). Covid rejected the socially pathological takeover with amoeba.

Taleb did not make any decision on his harsh criticism, but decided to add more content to his first sentence. “The other problem is the BTC protozoa [doesn’t] Get: The attractiveness of a cryptocurrency depends on certain opacity, its ability to promote tax fraud and money laundering,” Taleb Tweet. “You can make gold coins anonymized by remelting. You can redo spoons. BTC is easier to handle than cash. BTC volatility will not decrease over time/time [a] The higher price is exactly the price you don’t need. “The famous author further emphasized.

Paul Sztorc: “Those who are more Bitcoin have become quieter recently”

Of course, advocates of cryptocurrency and Bitcoin are not satisfied with Taleb’s statement. Popular Bitcoin expert Pierre Rochard tell Taleb believes that “Bitcoin is collapsing,” while digital asset proponent Chris Ellis said: “[Bitcoin is] Keep pace with the global economy. “

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“It’s like looking at the progress bar of an old tape backup that does not complete the time function,” Chris Ellis carry on.

Many Bitcoiners argue with Taleb that because the data shows that this is the case, Bitcoin’s volatility actually decreases over time.

Others responded in different ways and discussed the subject from another angle. Software developer Paul Sztorc mentioned that BTC people have not had such a smart voice recently.

“Unfortunately, most Bitcoiners do [Nassim Nicholas Taleb] I feel embarrassed when I speak (that is, Said people have a mission to repel all intelligent and rational people). Saner BTCers have become quieter recently,” Sztorc Say On Twitter.

Sztorc continues:

exactly the same [Chris] DeRose / Junseth had already predicted it. The “executor” type, they are very good at putting pressure on believers to increase their commitment, but they are opposed by outsiders or independent thinkers.I guess those people [Nassim Nicholas Taleb] Refers to.

Nassim Taleb is dissatisfied with the rebuttal, saying “Bitcoin mismatches sharing a single-cell brain”

After Taleb’s initial tweet on February 12, the author Tweet There were more comments on the 14th and criticized Dan Held of Kraken FX.Blockchain researcher Willy Woo responded to Taleb’s criticism and Say “Volatility is a herring.”

“The most likely way is for BTC to become a reserve asset supporting the currency. Since the agricultural era, when we have shells and silver bullions, it is a fate to treat it as an accounting unit. Woo added that we are now in In the digital age, we have real-time indexes and index boxes. Despite all defenses and responses to Taleb’s new ideas, the author does not seem to prefer crypto assets as much as in the past.

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Even in April last year, when news broke about Lebanese banks’ strict local currency remittance rules, Taleb Tweet: “Use cryptocurrency!”

However, the situation today is different. On Sunday morning (EST), Taleb appeared to respond to many “reserve assets” Twitter responses.

“Bitcoin mismatches share a single-cell brain [and] Logical wiring defect: “BTC is a good idea, so it will *reserve* reserve currency” (ie no other ideas) [and] No other reserves). Reserve≄ is volatile. [Plus] It should not fluctuate at a higher price. [Plus] Never found use,” Taleb adhere to.

What do you think of Nassim Nicholas Taleb’s recent severe criticism of Bitcoin and Bitcoin supporters? Let us know your thoughts on this topic in the comments section below.

Tags in this story

Anti-fragility, Bitcoin, Bitcoin (BTC), Bitcoin volatility, BTC volatility, Chris DeRose, Chris Ellis, criticism, cryptocurrency volatility, cryptocurrency, Dan Held, Junseth, single cell, Nassim Nicholas Taleb, NNT, Paul Sztorc, Pierre Rochard, Saifedean A, “Black Swan”, Willy Woo

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