Bitcoins are being discussed. NASSI Nicholas Taleb retains its release. It describes Bitcoin as a “technological tulip”. His Acerbic ticket leaves no one indifferent. So let’s dive into the core of his attack to understand his remorse.
In short
- NASSIM TALEB compares bitcoins with a speculative bubble and calls it a “technological tulip”.
- He criticizes his volatility, lack of real monetary usefulness and his ineffectiveness as a refuge.
- Yet bitcoins remain carried by its decentralization, its rarity and growing adoption.
Technological tulip?
Nassim Nicholas Taleb did not change his words. In his last article, Bitcoin accuses that he has no economic need.
For him, BTC monitors fashion rather than real usefulness. It easily compares a phenomenon with a bubble of tulips from the 18th century. It suggests that the value decreases as soon as the madness disappears.
For Taleb, Bitcoin lacks money. He condemns the lack of state recognition as a means of payment.
According to him, the course would approach zero outside of speculation. They believe that states have never accepted these property to pay invoices. As a result, the crypto would be limited to a simple financial bet.
Finally, it points to the extreme volatility of bitcoins. It causes brutal oscillations, more than 50 % in a few days.
This instability excludes any coverage against the systemic collapse. Rejects the idea of refuge. In addition, he nicknamed it during the previous post.
In addition to these accusations, however, it is necessary to explore what bitcoins actually change.
Beyond Critics: Which really does bitcoins work
Decentralization remains the cornerstone of bitcoins. Each network node verifies transactions without browsing by a single authority. Trust is therefore based on an algorithm and not on a third party. Participants therefore rely on coded rules. This model breaks traditional monopolies.
Security is based on evidence – work. The minors donate huge energy sources of DIG. This competition causes costly falsification to the extreme. Therefore, no one can change the chain without giving it adverse means. Finally, Bitcoin’s reward encourages the network honest.
The programmed rarity strengthens the attraction of bitcoins. The protocol limits the problem to 21 million chips.
Subsequent halvings intensify the effect of deficiency. Bitcoin is therefore placed in the reserve of the face of inflation. In addition, adoption expands between investors and specific uses. The world observes.
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Evariste, fascinated by Bitcoin since 2017, has not stopped documenting on this topic. If his first interest focused on trading, he now tries to actively understand all cryptocurrency progress. As an editor, he tries to permanently provide high quality work that reflects the condition of the sector as a whole.
Renunciation
The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.
