You are at: Home » Bitcoin Obituaries » 2021 » ‘Bitcoin is an Open Ponzi Scheme’ – CNBC | $51,093.65

“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, whose bestselling 2007 book examined highly improbable events and their potential to cause severe consequences. He said bitcoin has characteristics of what he calls a Ponzi scheme that’s right out in the open…

…“I bought into it … not willing to have capital appreciation, so much as wanting to have an alternative to the fiat currency issued by central banks: A currency without a government,” Taleb said. “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.”

Eulogy made by Nassim Taleb

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