Main navigation

"Black Swan" Author Knows What Will Kill Bitcoin

Advertisement
Fri, 25/08/2023 - 20:19
"Black Swan" Author Knows What Will Kill Bitcoin
Cover image via www.youtube.com
Read U.TODAY on
Google News

Nassim Nicholas Taleb, author of the influential book "Black Swan," has recently taken to social media to voice his predictions about the downfall of Bitcoin, the world's first and largest cryptocurrency. On Friday, Taleb said that what would "eventually kill Bitcoin won't be a crash but inexorable decay." He added, "Fads are more threatened by indifference than by disgust."

Advertisement

These comments come at a time when Bitcoin and other cryptocurrencies face varying levels of regulatory scrutiny and market volatility. Currently, Bitcoin holds a significant lead in the market, but according to Taleb, its downfall may not be as dramatic as some may expect.

Earlier this month, Taleb had pointed out that Bitcoin's trading volume has been "slowly disappearing," noting a more than 85% decline from its peak.

Related

He warned that as volume drops, market manipulations become easier, and eventually, "this is how Open Ponzis implode." While Taleb's opinions are certainly thought-provoking, it's essential to consider that market manipulation and dwindling interest are risks not unique to Bitcoin but are challenges that many assets in the financial markets face.

Taleb has long been a critic of both the Federal Reserve and Bitcoin. In one of his previous tweets, he stated that the argument claiming Bitcoin is a better alternative to the Federal Reserve is flawed, going as far as saying, "Fed Reserve is bad; Bitcoin is worse." He has also questioned Bitcoin's role as a hedge against inflation and funding risks, highlighting instances when Bitcoin's price dropped in scenarios where it was supposed to act as a safeguard.

As someone who has built a reputation for understanding risk and uncertainty, Taleb's cautionary views on Bitcoin offer an essential counterbalance to the bullish sentiments often heard in the crypto space. Whether Bitcoin will face "inexorable decay" as Taleb suggests, or continue to evolve and adapt to market challenges, remains an open question.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD