Black Swan author Nassim Taleb says at this point, it will take a miracle for the US government to avoid falling into a deadly debt spiral. Taleb’s warnings come as another $201 billion was added to the US national debt in just one month. According to new data from the Treasury, the US national debt […]
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Economist and best-selling author Nassim Taleb says the Federal Reserve made a grave mistake 15 years ago that regular Americans will now have to pay for. In a new interview on CNBC, the Black Swan author says that there is now an entire generation of traders that have no idea how to operate without zero […]
The post Federal Reserve Made a Big Policy Mistake and We’re Going To Pay the Price, Says Black Swan Author Nassim Taleb appeared first on The Daily Hodl.
Nassim Taleb and Nouriel Roubini criticized tokens in general during a BSV conference panel.
Economist Nouriel Roubini and former risk analyst Nassim Taleb took aim at crypto at the CoinGeek conference this week, while the always controversial Craig Wright boasted that the BSV blockchain was on track to hit billions of transactions a second.
Taleb, the author of best-selling economic books Black Swan and Skin in the Game, was a controversial addition to the lineup of the CoinGeek Conference in Zurich and came under fire on social media for giving BSV legitimacy.
Roubini meanwhile, offered a "greatest hits" version of his of attacks against crypto, familiar from crypto conferences prior to the pandemic.
“There is no reliability, no regulation, no AML, no KYC. [Crypto] is used by terrorists, money launderers, human traffickers, criminals, tax evaders.”
Taleb is gone. Calvin is going to brainwash him even more thoroughly at the Coingeek conference next week. He will be wined and dined and schmoozed and very soon he will be saying "Craig is Satoshi".
— Cøbra (@CobraBitcoin) June 6, 2021
Roubini argued that cryptographic tokens — which includes BSV presumably — are unnecessary and should be isolated from the value of the decentralized data verification enabled by blockchain technology.
“Data is very valuable, it’s the new oil,” he explained, lamenting that “99%” of the fintech application “has nothing to do with cryptocurrencies.” What is needed, Roubini explained, is a service that is “reliable, that stores the data, says who owns it and who pays for it.”
Taleb followed Roubini on the panel, agreeing that the data utilities enabled by cryptocurrency should be understood as a separate phenomenon to the cryptographic tokens issued by many blockchain projects. He shared his belief that those who need crypto and those who can use it are not aligned, adding:
“Who needs cryptos? Well, criminals need cryptos, except it doesn’t work for them.”
Related: Bitcoin’s usefulness is on a whole other level, depending on where you live
The host attempted to get the panel back on track asking Taleb if he agrees that “BTC does not represent what the Bitcoin Whitepaper describes.”
In response, Taleb admitted he thinks Bitcoin in its current form does not resemble the whitepaper, but countered that “the currency in the whitepaper may not be what we are looking for.”
NChain’s chief scientist, Craig Wright, talked up BSV, asserting it was “never designed to be a currency, it’s digital cash” and went on to make the claim:
“We will have a billion transactions a second in a few years, and then we will do one trillion a second.”
As you might expect, those Bitcoiners who did tune in were hate watching the broadcast, including YouTuber “BTC Sessions” who shared that they only “hopped on the stream for a second just to give it a thumbs down.”
Wright’s chief critic Arther van Pelt also tuned in to throw stones and tweeted that the panel was receiving very little viewership, calling it a “clown show.”
Hardly 650 viewers on YouTube when Ian Grigg, Craig #Faketoshi Wright, Nouriel Roubini and Nassim Taleb are on stage. ♂️ pic.twitter.com/dtwD8fE93v
— Arthur van Pelt (@MyLegacyKit) June 10, 2021
American comedian and television host Bill Maher mocked bitcoin and other cryptocurrencies, including dogecoin, on his show Friday. He quoted several bitcoin critics: Berkshire Hathaway CEO Warren Buffett, Microsoft founder Bill Gates, and “The Black Swan” author Nassim Taleb. Bill Maher Admits He Doesn’t Get Bitcoin Television host and political commentator Bill Maher mocked bitcoin […]
The famous author of The Black Swan, Nassim Nicholas Taleb, says investors should not buy bitcoin. To hedge against the current turbulent market, he advises buying stocks or real estate, emphasizing that bitcoin has no connection to inflation or “anything economic.” Nassim Taleb Advises Against Bitcoin Investing Nassim Nicholas Taleb, the famed author of “The […]