Among the current critics of cryptocurrency are people who once supported it. This is the case of Nassim Nicholas Taleb, a former enthusiastic supporter of bitcoin (BTC), who today considers it to be a tumor. Could Nassim be right?
Bitcoin (BTC), an alternative solution to heal the sick body
At the end of 2017, Nassim Nicholas Taleb said that “bitcoin is a great idea“. He added that blockchain technology simplifies transactions. In 2020, he demanded that cryptocurrencies be used to get out of the economic crisis in Lebanon, his country of origin. But, some time later, he radically changed his opinion about cryptocurrencies, especially bitcoin (BTC).
Nassim recently said:Bitcoin is a tumor that grew on the sick body of a 15-year-old ‘Disneyland’ economy“. According to him, the global economy is run like a Disneyland theme park, which is far from positive.
Nassim also explained:In its current incarnation, despite the hype, bitcoin has failed to satisfy the notion of “money without government” (it even turned out to be no currency at all). Bitcoin has no value and there is no evidence that blockchain is a useful technology.»
However, bitcoin (BTC) appears as a remedy for the current economic system which is seriously suffering. Cryptocurrency does not seem to be linked to the current system and it cannot be a tumor produced by this system. On the contrary, it constitutes a unit of wealth outside the system and it is not linked to any government or central bank.
Bitcoin (BTC) seems to be more of an alternative solution to protect from the current economic system. For some analysts, governments are aware of its potential, but they are afraid that they cannot manipulate it.
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