Taleb said that Bitcoiners are idiots

3개월 전

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Nassim Taleb, a professor known in the financial world for having very consistent opinions regarding black swans in the market, said that Bitcoin is an excellent idea, the problem is that a large part of the people who have this currency are ignorant, in terms of not understand its nuances.

Taleb said this on Twitter, while he was arguing with Giacomo Zucco, one of the Bitcoin evangelists, when he was saying that governments are taking centralized actions in relation to the global health problem, showing that decentralization really is the best way out for solve all problems.

Taleb responded by pointing out that states can indeed protect people from various types of negative situations, just as Friederich Hayek said. After a few tweets discussing, Taleb commented that Bitcoin has problems, which he described as, "tail risks", which is nothing more that when an asset or portfolio of assets moves more than 3 standard deviations from its price, above the risk of a normal distribution.

The professor tried to use arguments referring to the events of black swans, which may occur after the end of the pandemic, saying that the economy recovery will be in V, because the economic activity is cyclical, and with the decrease of inflation, the appearance of the black swan will become even more apparent.

The point that the professor did not understand, is that libertarians do not cling to issues related to high profits, but rather protection against the possible inability of States to protect fiat money. Where centralized systems have failed, cryptocurrencies take over.

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