...and called bitcoin and ponzi! I don't even like him, but when he is right, he is right: https://www.cnbc.com/2021/04/23/bit...embles-a-ponzi-scheme-black-swan-author-.html "Black Swan” author Nassim Nicholas Taleb on Friday criticized bitcoin as a “gimmick,” telling CNBC he believes it’s too volatile to be an effective currency and it’s not a safe hedge against inflation. “Basically, there’s no connection between inflation and bitcoin. None. I mean, you can have hyperinflation and bitcoin going to zero. There’s no link between them,” Taleb said in a “Squawk Box” interview. “It’s a beautifully set up cryptographic system. It’s well made but there’s absolutely no reason it should be linked to anything economic,” added Taleb,... He said bitcoin has characteristics of what he calls a Ponzi scheme that’s right out in the open. I realized it was not a currency without a government. It was just pure speculation. It’s just like a game ... I mean, you can create another game and call it a currency.”" ------------------------ Nassim, you are forgiven for your narcissism and general assholery.
You are speculating in the USD that paper money is a store of wealth. It has lost 98% of purchasing power since 1971. Is that a store of wealth?
LOL. Who the hell considers fiat money a store of wealth? Real Estate and Gold and Silver are long term stores of wealth.
Who doesn't know that cash loses value unless you get paid interest at a rate that at least matches (the real rate of) inflation?
You would be amazed. I know someone who is a director of the society of technical analysis in London who has eight deposit accounts. Someone else who was a former floor trader who has multiple deposit accounts. People in the global south do not trust paper money but in the west people have not got it yet.
I just hope Taleb is long gold (he usually is), he will get disrupted without owning the hedge. It will be hilarious. The man is a great risk theoretician but a horrible source of ideas on how to actually make money
Eh??? Who the fuck called the US dollar a store of value, ever? And don't change the subject, it wasn't the US dollar, it was your ponzi-esque crypto. 1. First, why can't you defend it? because it is shit. 2. Why don't you switch to some less criticizable coin? There are thousands.... Bitcoin may go to the Moon, but Doge will go to Uranus....