‘BTC Is Worth Exactly Zero’ – Twitter | $31,676.69

Uri Shalev
Author
Last updated on:
Fact Checker

In its current version, 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), can be
neither a short or long term store of value (its expected
value is no higher than 0), cannot operate as a reliable
inflation hedge, and, worst of all, does not constitute, not
even remotely, safe haven for one’s investments, shield
against government tyranny, or tail protection vehicle for
catastrophic episodes…

…The customary standard argument is
“bitcoin has its flaws but we are getting a great technology,
we will do wonders with the blockchain”. No, there is no
evidence that we are getting a great technology —unless “great
technology” doesn’t mean “useful”. And we have done —at
the time of writing —in spite of all the fanfare, still close to
nothing with the blockchain.
So we close with a Damascus joke. One vendor was selling
the exact same variety of cucumbers at two different prices.
“Why is this one twice the price?”, the merchant was asked.
“They came on higher quality mules” was the answer.
We only judge a technology in how it solves problems, not
in what technological attributes it has.

Eulogy made by Nassim Nicholas Taleb
Source

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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Uri Shalev
Uri Shalev

Uri Shalev studied Psychology at the University of Haifa. With a keen interest in cryptocurrency and disruptive tech, Uri has a breadth of experience in digital marketing and SEO. Read More

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3 thoughts on "‘BTC Is Worth Exactly Zero’ – Twitter | $31,676.69"

  1. And yet Taleb wrote the most glowing foreward to the book “The Bitcoin Standard” and now has full on BTC derangement syndrome.

    1. not true the dollar is backed by a real world monopoly not a virtual world. it backed by barter trade of industries and commodities

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