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“Black Swan” Author Explains Why Crypto Keeps Attracting Inexperienced Investors

Sat, 12/10/2022 - 13:37
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Yuri Molchan
Nassim Nickolas Taleb shares his view on why “the inexperienced” keep entering crypto with a Utopian vision
“Black Swan” Author Explains Why Crypto Keeps Attracting Inexperienced Investors
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Prominent mathematician, former risk manager, modern philosopher, author of bestselling non-fiction books, including “Black Swan”, Nassim Nicholas Taleb has taken to Twitter to share another of his messages with the audience.

This time he touched on the topic of inexperienced investors entering crypto with high expectations and why it continues despite manifold “opportunities” to lose money on scams, volatility, etc.

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Taleb tweeted that “the inexperienced tend to be Utopian” with cryptocurrencies and “other techbeciles”. According to the scholar, it is a question of perception. As one lives through events one does not register negative factors but only see thing positively and subjectively.

However, when one looks back, one sees everything from the perspective of “survivorship bias”.

A few years ago, Taleb praised crypto and Bitcoin in particular as opposed to banks. However, he then turned into a vocal crypto hater and now he often publishes tweets, slamming Bitcoin and the whole crypto space. Recently, he called Bitcoin a “tumor” that metastasized because of "Disneyland economy" in the US.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at