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'Black Swan' Author Admits His Major Bitcoin Mistake

Thu, 04/06/2023 - 15:19
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Alex Dovbnya
Nassim Nicholas Taleb, renowned author of 'Black Swan' and respected thought leader on uncertainty and randomness, has publicly admitted to making significant error in his initial assessment of Bitcoin
'Black Swan' Author Admits His Major Bitcoin Mistake
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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.

Nassim Taleb Calls Bitcoin Detector of Imbeciles
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.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at