Tesco
Bitcoin, Currencies, and Fragility
Report

Bitcoin, Currencies, and Fragility

Nassim Nicholas Taleb
Academia, 2021
Get the Report

Read or listen offline

  • 0.5×
  • 0.75×
  • 1×
  • 1.25×
  • 1.5×
  • 1.75×
1×

Editorial Rating

9

Qualities

  • Bold
  • For Experts
  • Hot Topic

Recommendation

In 2007, shortly before the Great Recession, trader, author and philosopher Nassim Nicholas Taleb published his acclaimed book The Black Swan. The title was a metaphor for the rare and unforeseen event capable of producing extraordinary damage. Now Taleb brings his thought leadership to the sphere of cryptocurrencies. He makes a persuasive case that bitcoin, with its risk and volatility, is neither reliable nor viable as a store of value or an investment instrument. Investors, technologists and cryptoenthusiasts will find compelling food for thought in this insightful report.

Take-Aways

  • The technology behind bitcoin does not assign bitcoin’s value as a currency or an asset. 
  • Bitcoin’s asset value should be zero.
  • Bitcoin cannot be a currency, either.

About the Author

Nassim Nicholas Taleb is a professor of risk engineering at New York University, an adviser at Universa Investments and a best-selling author.

Comment on this summary or 开始讨论