Renowned author and statistician Nassim Nicholas Taleb, famous for his works on uncertainty and randomness, including the bestseller "Black Swan," recently admitted to making a significant mistake regarding Bitcoin during an appearance on Bloomberg's Odd Lots podcast.
Taleb criticized Bitcoin, stating, "It turns out that as much as the Federal Reserve induces fragility in the system, and as much as I dislike Bernanke, it turns out that Bitcoin is a lot worse. It is itself a very fragile commodity."
He went on to explain that a small number of people control Bitcoin, and it is merely a book entry that must be maintained.
Contrary to its original intent, Bitcoin has not delivered on many of its promises, such as being a transactional tool but instead has become a "speculative island," the Black Swan author says.As a former Bitcoin owner, Taleb has openly acknowledged his mistake and gone short on Bitcoin. He emphasized the importance of recognizing and addressing fragility, saying, "If you realize that something is fragile, do something about it."
Taleb's concept of anti-fragility argues that systems should be built to withstand shocks and stressors, growing stronger through adaptation and improvement.