Bad bitcoin? – Since Bitcoin (BTC) has become big enough that it is no longer simply despised by its detractors, the insults are raining. If Warren Buffett had already called the king of cryptos in the past “Rat Death Squared”today it’s Nassim Nicholas Taleb who goes so far as to insult Bitcoin from “tumor”.
15 years of “monetary Disneyland”: thank you central banks!
Like the Horsemen of the Apocalypse, individuals like Nouriel Roubini Where Nassim Nicholas Taleb preach economic collapse total and planetary. It’s their business, in a way.
The author of The Black Swan recently gave a interview on CNBC’s Squawk Box. Nassim Nicholas Taleb (NNT) announces us there as always the end of the game. After years misuse of money printing by central banks – qualified as “Disneylands” -, the addition is likely to be salty. Paradoxically, Bitcoin is singled out, while the latter is totally independent banks (and was even born out of the disaster of the 2008 economic crisis).
“I think we had 15 years of Disneyland, which basically destroyed the economic structure. You harm the economy by creating tumors like bitcoin. (…)”
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Nassim Nicholas Taleb sees tumors everywhere, Bitcoin is one of them
The lower interest ratesalmost to 0, by the central banks (US Federal Reserve in the lead) after the 2008 crisis led to bubbles economic. Thus, if Bitcoin is targeted by NNT, this is also the case for the real estate market, which is also entitled to its qualifier of “tumor”.
“Bitcoin, I call it a tumor. Real estate is another tumor. (…) People have this notion that markets should behave as they think they should behave. When you look at the markets, they oscillate between overvalued and undervalued. »
And obviously, Nassim Nicholas Taleb thinks markets should behave the way he thinks they should, him: i.e. suddenly crash into a crack of a gigantic scale and never seen before. Luckily for us, the markets have always proven wrong so far.
If the finding of money printing (very) unreasonable of central banks is good, why target like this – and with so much determination – Bitcoin? When we know that Nassim Nicholas Taleb has also called Bitcoin a Ponzi, we no longer seek to understand, we are content to let him express his hatred against the invention of Satoshi Nakamoto. After all, if it can relieve him.
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The article Bitcoin, “a tumor”: BTC’s best enemy is on the attack again appeared first on Journal du Coin.