Reserve

Bitcoin

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
Nassim Nicholas Taleb, author of the influential book "Black Swan," has recently <a href="https://twitter.com/nntaleb/status/1695124080867885353">taken to social media</a>&nbsp;to voice his predictions about the downfall of Bitcoin, the world's first and largest cryptocurrency. On Friday, Taleb said that what would "eventually kill Bitcoin won't be a crash but inexorable decay." He added, "Fads are more threatened by indifference than by disgust."
These comments come at a time when Bitcoin and other cryptocurrencies face varying levels of regulatory scrutiny and market volatility. Currently, Bitcoin holds a significant lead in the market, but according to <a href="https://u.today/black-swan-author-wrong-about-bitcoin-says-analyst">Taleb</a>, its downfall may not be as dramatic as some may expect.
Earlier this month, Taleb had pointed out that Bitcoin's trading volume has been "slowly disappearing," noting a more than 85% decline from its peak.
He warned that as volume drops, market manipulations become easier, and eventually, "this is how Open Ponzis implode." While Taleb's opinions are certainly thought-provoking, it's essential to consider that market manipulation and dwindling interest are risks not unique to Bitcoin but are challenges that many assets in the financial markets face.
Taleb has long been a critic of both the Federal Reserve and Bitcoin. In one of his previous tweets, he stated that the argument claiming Bitcoin is a better alternative to the Federal Reserve is flawed, going as far as saying, "Fed Reserve is bad; <a href="https://u.today/bitcoin-btc-should-hit-135000-after-halving-says-pantera-capital">Bitcoin</a> is worse." He has also questioned Bitcoin's role as a hedge against inflation and funding risks, highlighting instances when Bitcoin's price dropped in scenarios where it was supposed to act as a safeguard.
As someone who has built a reputation for understanding risk and uncertainty, Taleb's cautionary views on Bitcoin offer an essential counterbalance to the bullish sentiments often heard in the crypto space. Whether Bitcoin will face "inexorable decay" as Taleb suggests, or continue to evolve and adapt to market challenges, remains an open question.

"Black Swan" Author Knows What Will Kill Bitcoin

U_Today

Other articles published on Aug 25, 2023

Shiba Inu (SHIB) And Bitcoin (BTC) Push For New Upgrades As Buyers Move Towards Pomerdoge (POMD)

US Treasury Unveils Crypto Tax Reporting Guidelines

Terra Fights Phishing with Domain Freeze and Fund Protection

Opinion: SBF is proof the US justice system is broken

BTC Price Set To Rebound Into The Bull Market

MPC Stock Price Prediction: Can Marathon Petroleum Break $150?

Join our free newsletter for daily crypto updates!