'Black Swan' writer Taleb flies bitcoin as 'Ponzi' and 'Gimmick'

Nassim Taleb, the best-known statistician and author of his 2007 book "The Black Swan", compared Bitcoin to a pyramid scheme in a recent interview. Speaking to CNBC's Squawk Box, Taleb said Bitcoin has "features of an open Ponzi scheme". "There is no link between inflation and Bitcoin," he said, referring to the popular statement by Bitcoin enthusiasts that Bitcoin is an "inflation protection". “If you want to avoid inflation, buy some land and grow olives on it – I don't know. When the price drops, you have olive oil. It has no connection with Bitcoin. “It has the feature of an open pyramid chain. Everyone knows it's a Ponzi ”@nntaleb says for #bitcoin. "Actually, there is no link between inflation and #bitcoin … well done, but absolutely no reason to link it to anything economical." Pic. may be. it is increasingly connected to traditional financial markets. Bitcoin also dropped at the beginning of the pandemic. Bitcoin is also highly volatile, meaning it decreases easily as it goes up. And inflation may never come. Another rule popular with Bitcoin supporters is that excessive government spending during the epidemic (and President Biden's latest stimulus package) will lead to Weimar-like hyperinflation. However, some analysts believe that an increase in price index consumption more than expected in the past month is misleading and is due to what is known as the "base effect". While consumer prices were so low in March last year, the prices of songs now appear to have risen in annual statistics. 'Black Swan' Author Nass

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