Crypto

‘Black Swan’ Author: All Crypto People are ‘Dimwits’

Alex Dovbnya

Prominent mathematician claims cryptocurrency proponents have ‘miswired’ brains

Nassim Taleb, renowned mathematician, recently took to Twitter to express his negative view of the cryptocurrency industry.

Taleb called crypto fans “dimwits” and “poorly wired technoheads.”

He mentioned that, despite having high hopes for crypto initially, he grew increasingly disappointed as he delved deeper into blockchain.

“I have never been blinded by hope,” Taleb commented in what appeared to be a rebuke to false promises within the cryptocurrency industry.

This was echoed by Asiff Hirji, a former Coinbase executive, whose comment lamented the prevalence of scams and schemes in the industry. However, Hirji believes blockchain is capable of dramatically improving and simplifying financial transactions.

Taleb has been highly critical of Bitcoin for some time, repeatedly calling the flagship cryptocurrency a worthless speculative bubble. Last July, he called him “a fool magnet”.

In June 2021, Taleb published an article titled “Bitcoin, Currencies, and Bubbles,” in which he laid out his bearish case for the biggest cryptocurrency last June. Although he praised Bitcoin earlier for not being controlled by any government, the former options trader claimed that it failed both as a currency and as an inflation hedge.

Earlier this year, Taleb opined that bubbles like Bitcoin have formed due to a long series of low interest rates.



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