Nassim Nicholas, the author of Antifragile and The Black Swan has posted various incendiary tweets related to bitcoin for last six months. He has compared the cryptocurrency or bitcoin with an infectious disease. He also dismissed Bitcoin as worthless, and mentioned that it doesn’t serve as the hedge against this.
Bitcoin Black Paper
It was also mentioned that bitcoin is not a currency or a store of value. It is not an inflation hedge and not a harbor from government oppression. He added that bitcoin is mainly fragile bubble which is built on the speculation rather than genuine value.
Nassim also tweeted that View of BTC is mainly the contagious disease. This will definitely spread, and also its price will also rally till the time there is saturation. In his tweet he also added that almost nothing in the financial history that has been much fragile as compared to bitcoin.
Also, Bitcoin is a magnet for the imbeciles where BTC might also interest few for the purpose of speculation but anyone that also claims BTC is the hedge against other thing, financial or even otherwise.
Is BTC a hedge?
No, Bitcoin is not a hedge for adversity and it is not a hedge for any kind of inflation or even for deflation. It is also not a Bitcoin is not a currency. This is awkward, clunky as well as obsolete product having the low rate of interest rates. This should ideally collapse with inflation.
If still you believe that #BTC is the hedge against various world events, or it is known for ‘diversification’, you should stay far from finance. It is better that you should explore some other hobby which is not harmful for you.
Here, Nassim Nicholas is not at all ‘bearish’ on the #BTC. This is basically a tulip-bubble and so it is as illogical to purchase this and SHORT it, possibly it is more Gabish.
