[2021-06-22] Nassim Taleb, Erstwhile Bitcoin Admirer Publishes Paper Trashing It

Karartma1

legendary

Activity: 2310

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Quote from: hv_ on June 22, 2021, 10:24:03 AM

Taleb and Nouriel made some good points on btc.

Use is most important. hodl is useless + negative ESG

Nah, they didn't get it. Now that China has banned bitcoin mining altogether I expect that new miners will come in and that the chinese will find a way to relocate their businesses in eco-friendly countries with cheap access to renewables.
The ESG drama is non-sense to me when the majority of the world's operations are being run on coal and fossil fuels.

hv_

legendary

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Merit: 1055

Clean Code and Scale

Taleb and Nouriel made some good points on btc.

Use is most important. hodl is useless + negative ESG

bbc.reporter

legendary

Activity: 3122

Merit: 1492

Nassim Taleb’s paper on bitcoin can be found by everyone on Scribd, uploaded by coindesk.com if anyone wants to read it.

https://www.scribd.com/document/512617134/Bitcoin-Currencies-and-Bubbles-by-Nassim-Taleb#from_embed

The source of his criticsm appears to be from the high volatility of bitcoin which is arguably caused by its monetary policy which also encourages hoarding.

Also, the change in foreword of Ammous’ book to Michael Saylor hehehehehe.

Nassim Taleb, the author of several well-regarded books on finance and risk and onetime bitcoin fan, has published a draft paper explaining his recent 180 about the asset.

“In spite of the hype, bitcoin failed to satisfy the notion of ‘currency without government’ (it proved to not even be a currency at all),” the self-described flaneur writes in “Bitcoin, Currencies and Bubbles,” posted on his blog Sunday.

It’s a far cry from 2017, when Taleb wrote the foreword to “The Bitcoin Standard,” economist Saifedean Ammous’ book that made the case for the digital asset as a new form of sound money.

Taleb has since had a very public falling-out with Ammous, deleted his Medium post that contained the foreword and made his tweets private, meaning if you are not among the 743,000 people who already followed him on Twitter, you will now need his permission to see his posts. A new edition of Ammous’ book is forthcoming with a foreword by MicroStrategy CEO and bitcoin bull Michael Saylor replacing Taleb’s.

Read in full https://finance.yahoo.com/news/nassim-taleb-erstwhile-bitcoin-admirer-221711587.html

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