And what nonsense. "A currency must earn interest" <- this guy is really full of sh*t sometimes. I really do not understand why he has the reputation that he has.
It's perfectly possible to lend your bitcoins to someone and generate a return on it, that's what contracts are for and has nothing to do with the currency itself.
Coming soon: one NT's own crypto coin.
I noticed when it broke because transaction fees at some point escalated to €50 or so. Looked up the address and there had been a few dozens transactions on it over the years, paying €100 with 20 BC or something like it. The total was a little over 900 BC. I found the private key in an email I had sent to myself.
So trust me when I write, from a beach on a Corona-free island in the Atlantic: Taleb is right. BC sucks. The only thing worse than BC are the greedy halfwits promoting it.
As an experiment in economics, Bitcoin is pure genius. The inventor quite obviously deserves a Nobel. Due to two flaws (its inability to seamlessly scale and its environmental impact), and due to its community which specifically failed to fix those issues and just generally failed in life, Bitcoin ended up as the red-hot carcass of a spent star it currently is.
As for Bitcoin's design: I actually think it is amazing. It managed to scale across many orders of magnitude and is simply a victim of its own success. It has held up amazingly well given the amount of attacks leveled at it. It's not perfect, but that is mostly because the designers never really foresaw it achieving this level of adoption this fast, and if that's failure I hope to fail at that level one day.
Enjoy your beach.
[0] https://news.bitcoin.com/black-swan-author-pulls-a-180-nassi...
But if you also do something that many others do when the trend is plainly visible that doesn't count. Yes, I mined some bitcoin. But that's not the same as being able to predict a trend. Because when you can you're not just going to mine a couple of bitcoins or put a bit of money into it, you're going to bet the house: you know you can't lose.
So as far as I'm concerned he's full of it.
Unless you can predict 'time', then no. (And generally we don't include time as 'predicting the future')
Will we all be eating meat not grown from animals in the near future, yes. Should I start shorting cattle farms? I'd guess cattle farms will start to devalue within a decade, but I'm not sure that statement has any value to me.
> So as far as I'm concerned he's full of it.
Yes he is.
Again, you're talking about btc like it's an opportunity to make a buck and not a medium of exchange, which is the exact criticism of it here.
Say what?!? Is there some coverage of this, or do I need to read millions to tweets?