Taleb has switched to the dark side

Another poor soul who has missed the ride...

 

But seriously though bitcoin is only an effective hedge against inflation if it's the ONLY cryptocurrency that has limited inventory that is legally allowed to be used as a method of payment. When you have a myriad of other cryptocurrencies that have unlimited inventory being thrown into the pot, bitcoin is not that useful in combatting inflation. And its highly volatile value does not help either as a useful method of payment unless again it's the ONLY currency (not just cryptocurrency) around. As long as we have other non-digital currencies around and you still have to convert bitcoin to those non-digital currencies in order to pay for goods and services we need, bitcoin is not a viable method of payment either. Imagine you received a payment in bitcoin when bitcoin is = 64000 USD for one product. And several months later, when you are selling the same product with no change in quality or quantity but the bitcoin is now only = 42000 USD. If you are still taking payment in bitcoin, you just suffered a price depreciation of 34%!! You just became 34% poorer for no reason at all. So if these issues are not resolved, then bitcoin is nothing different from dutch tulips.

 

And both can end up in your Uranus.

 

He didnt make any of this returns, its not his fund. If you actually read Spitznagel's book, he is not all that kind of Taleb's strategies there. He goes out of his way to say he doesnt use them, he's got his own method

 

--Health. Being healthy is an excellent store of value.

--GME and Tesla stocks. They only go up over time.

--Dogecoin (do I need to explain the best crypto there is?)

--Being long an ETF. (inflation/tide raises every stock/boat in the market/harbor)

 

you are not serious.

 

And it gets worse, Spitznagel says that his time at Empirica (Taleb's hedge fund with Spitznagel) was his worst historical return in his career. Read Taleb in order to avoid blow up's, but he has almost nothing to teach when it comes to actually profiting from markets

 

I added a 4th one, being just long the market. But yes, I was joking, because I was making a point and using the exact same argument what bitcoiners use: "it always goes up over time".

Now when you see just how silly that argument is using a stock or another crypto, you realize it is still silly using as an argument for backing bitcoin.

 

You cannot describe a store of value or say how you store value. All you have is criticism.

 

Here's how, I diversify among different asset classes and currencies that fit well with the current macro enviroment. Bitcoin is part of that basket approach but there are other options all well, like high quality stocks, real estate, gold, land and foreign currencies.