Nassim Taleb, author of “Black Swan”: Bitcoin is a “cancerous” existence – Programmer Sought

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Nassim Taleb, author of “Black Swan”: Bitcoin is a “cancerous” existence – Programmer Sought
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Nassim Taleb, a famous writer who explained the Great Depression with “Black Swan Effect”, used to be optimistic about Bitcoin and entered the market for investment, but now he believes that Bitcoin is a “cancer”-like existence, and his attitude can be described as 180 degrees. change.

Nassim Taleb recently told CNBC’s “Squawk Box” that anyone under the age of 40 doesn’t understand how the economy works these days:

I think the last 15, 14 1/2 years of “Disneyland” (referring to the Fed’s highly accommodative monetary policy) has basically destroyed the structure of the economy. Think about it — those days without interest rates.So any 40-year-old […] No market experience, it can be said to be “zero”. They may be unaware that the value of money can change over time.

Nassim Taleb argued in an interview that the U.S. federal government has lowered interest rates too low, and the people of Lebanon will eventually have to suffer the consequences. He says:

With zero interest rates for so long, you’re hurting the economy, you’re creating bubbles, you’re creating tumors like Bitcoin.

A few years ago, Nassim Taleb had a positive opinion of Bitcoin, especially its potential to help people circumvent capital controls. In his foreword to his 2018 book “The Bitcoin Standard,” he described Bitcoin as “the first organic currency” and an “insurance policy” against government control over money.

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However, just when Bitcoin was surging and everyone was rushing to enter the market in February this year, Nassim Taleb said that he had been selling the Bitcoin in his hand, and even bluntly said “Bitcoin is a failure”, he believes that Bitcoin As a currency, it should not be so easy to fluctuate. To put it bluntly: “You can’t use Bitcoin to measure the price”, “The skyrocketing phenomenon is excessively promoted.”

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