Bitcoin Is “Perfect Sucker Game” Says “Black Swan” Author


Alex Dovbnya

The Prominent Statistician Has Smashed Bitcoin Again, Beaming Over the Under-Performance of the Number One Cryptocurrency

“Black Swan” author Nassim Nicholas Taleb has to use Twitter again to try Bitcoin again, claiming that the number one cryptocurrency cannot serve as a hedge against anything.

He described it as “a perfect sucker game” during periods of low interest rates.

Taleb, who once admired the original cryptocurrency, made a full U-turn last February, declaring the leading cryptocurrency a failure. On Feb. 12, the eminent mathematician revealed that he had started selling his Bitcoin, criticizing the volatility of the flagship cryptocurrency and claiming it could not become a viable means of payment after an argument with Saifedean Ammous, author of “The Bitcoin Standard”. †

The author of several popular financial books has clashed with famous cryptocurrency personalities, bitingly joke that Bitcoin enthusiast Dan Held has a “single-cell” brain, among other things.

Taleb has not softened his stance on Bitcoin after rocking the cryptocurrency community with his scathing comments. Last June, he published a paper called “Bitcoin, Currencies, and Bubbles” in which he presented his bearish argument for the largest cryptocurrency. Despite praising the crypto king for not being controlled by any government in the past, the former options trader claimed it had failed both as a currency and as an inflation hedge. In July, he tweeted that the world’s largest cryptocurrency was “a magnet for imbeciles.” .

In December, he said Bitcoin was a “clunky” and “obsolete” product of low interest rates, and predicted it will collapse due to high inflation. Last month, Taleb described Bitcoin as a contagious disease.

However, the famous statistician is not bearish about Bitcoin as he believes it would be “irrational” to make it short.



Leave a Reply

Your email address will not be published.