2 days ago 'The Black Swan' author Nassim Taleb joined 'Squawk Box' on Friday to discuss President Joe Biden's reported proposal about a capital gains tax hike that has been spooking investors. The latest tweets from @TalebWisdom. The latest tweets from @nntaleb.
Nassim Taleb: Bitcoin failed as a currency and became a speculative ponzi scheme
Lebanese-American financial markets guru Nassim Taleb returned to attack Bitcoin on Twitter on late Wednesday (14) by writing the following: “Bitcoin has failed to be a currency,open-Ponzi speculative game.”
Taleb has a history of bullying people who are smarter than him, such as Steven Pinker and Sam Harris. Like the postmodernists described by Jordan Peterson, Taleb does not engage in productive debate. When challenged on Twitter, Taleb does one of two things: berate the person publicly (if the person is a public figure) or block (everyone else).
Nassim Taleb: Bitcoin failed as a currency and became a speculative ponzi (Image: Atlas Geographica)
Nassim Nicholas Taleb Twitter
WHAT WE WANT CRYPTO & CURRENCY FOR:
1) Currency w/o a government
2) Stable/reliable for contracts
3) Inflation indexed store of value — basket of items representative for me.
4) Rapid transactions
Can we do it?
#BTC failed to be currency, open-Ponzi speculative game.
1/n
Taleb Twitter Bitcoin
— Nassim Nicholas Taleb (@nntaleb) April 14, 2021
The tweet follows his February speech this year, when he also used the social network to claim that Bitcoin failed as a store of value. The publication generated revolt in an ‘old friend’ who countered him, the author of the book ‘The Bitcoin Standard’, Saifedean Ammous.
In yesterday’s publication, Taleb starts with the premise “WHAT WE WANT CRYPTO & CURRENCY FOR”, describing what would be ideal for him:
“1) Currency w/o a government
2) Stable/reliable for contracts
3) Inflation indexed store of value — basket of items representative for me.
4) Rapid transactions”. He concluded with the question, “Can we do this?”
Questioned by the user ‘Ultra_Mega_BTC’, who said that “the market is saying the opposite”, Nassim Taleb called him an “imbecile”.
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Most of the tension resides between 1) Embedded, complexity-minded, multiscale/fractal localism (politics as an ecology/complex adaptive system), and 2) Abstract one-dimensional universalists and monoculturalism (politics as a top-down engineering project). We go beyond the verbalism; we rely on information theory, complexity theory, uncertainty approaches (say fragility), and probabilistic rigor to look at politics with the same eyes as we examine highly dimensional interactive elements such as nature, biological systems, internet networks, and medical issues.
Link to Paper – academia.edu/38433249/Scala_Politica