Nassim Taleb is again suing bitcoin. Taleb, the author of “Black Swan” and one of those who predicted 2008’s global financial crisis, claims that the leader in cryptos is worthless and that there is no evidence supporting the use of blockchain.
Taleb’s analysis, titled “Bitcoin currencies and bubbles”, outlines four arguments that would destroy the cryptocurrency’s value.
Taleb asserts that bitcoin isn’t a concept that can be used as a currency. In fact, he denies that it even exists. He explains that this failure was masked by inflation of the asset’s value.
Taleb also stated that bitcoin is not a store for long-term value, as opposed to gold, which is a precious metal and historical safe haven, with which crypto has been often compared. This expert, however, says that bitcoin is not a reliable way to protect against inflation.
Taleb ends his analysis by saying that bitcoin is not a safe place to go against dictatorial governments or natural disasters.