Are we even sure what planet this guy is from?
Taleb didn’t get behind it, he merely said that it is difficult to “short”. Cryptofans will jump on anything as positive.
If you were an observer of aviation circa 1910, you could see that the airplane was a tremendously valuable invention and that it was going to change the world. But that didn't mean you wanted to invest in the production of more of Orville and Wilbur Wright's first plane, did it?
https://medium.com/opacity is Taleb's blog. And there are different types of cryptocurrency fans and not all of them are bubble buying morons, particularly the older fans. It's exactly the same as .com bubble in my eyes: sound companies, stupid late investors.
"Finally, Bitcoin will go through hick-ups (hiccups). It may fail; but then it will be easily reinvented as we now know how it works. In its present state, it may not be convenient for transactions, not good enough to buy your decaffeinated expresso macchiato at your local virtue-signaling coffee chain. It may be too volatile to be a currency, for now. But it is the first organic currency." -Nassim Nicholas Taleb
In the US, children are taken from their parents. In Europe, the Schengen Agreement may collapse. What's going on?
I commend Trump. The deal has few specifics, but U.S. president says the leaders will ‘meet again...many times’
Things are about to heat up in the EU. Italy's ministers threaten the EU/EMU with mass deportations.
Iowa farmers are upset over Trump's tariff policy. Soybean exports will drop and the price is already falling.
The global trade war escalated moments ago when Trump fired back with a threat of $200 billion more tariffs.
NY Fed President William Dudley is worried about the low unemployment rate. He thinks the Fed needs to be above neutral.
A GOP strategist said Trump "beclowned" himself at the G-7 summit. Canada and Germany will retaliate with tariffs.
On June 11, Italy stirred up a storm by refusing to allow a ship with refugees to dock. Repercussions reverberate.
The BIS blasts cryptos over scaling issues, energy, and trust. The BIS is correct. Cryptos are fatally flawed as money.
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