"Buterin donated $2.4 million in ether to the SENS Research Foundation."Well there you go, if Ethereum does do well then we all get to be immortal. Hoorah.
Regardless of how well Bitcoin and Ethereum does, cryptocurrency is an antifragile movement, it may be severely weakened by events but it's never going to go away. It had a value long before finance got involved with it (I still remember when a bitcoin was worth 50$ and I couldn't believe it then), and it survived the collapse of Mt. Gox back in 2014, which was the real test of its ability to hold value, not the 2017 bubble, and it passed.
Decentralized cryptocurrency is going to supplant centralized banking currency and NOBODY is read for how severely this will weaken the authority of sovereign states (except maybe the crazy InfoWars crowd).
https://medium.com/opacity/bitcoin-1537e616a074You're a genius Mish, but if Taleb gets behind something, then I've got to side with Taleb.
In any case, they can't short the 2017 bubble.https://www.marketwatch.com/story/nassim-black-swan-taleb-says-bitcoin-cant-be-shorted-properly-as-futures-debut-2017-12-11
Cryptocurrency has an economy behind it. It's a small one relative to its capitalization, but then again that's how it is with banking currency as well. And this underground economy is set to grow, especially with the 2020s' credit depression set ahead of us.
Bitcoin is a scam.
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
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