News Nassim Taleb: Most Investors Don’t Understand Bitcoin

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Nassim Taleb, an author of Black Swan, claims that most investors don’t understand nuances of bitcoin. In his tweet posted on Sunday, Taleb said that Bitcoin is a good idea, but “almost all bitcoiners are total idiots.” Nassim Taleb was changing posts with Bitcoin enthusiast Giacomo Zucco, who challenged Taleb’s views on imposing central planning by bureaucrats and politicians with “no skin in the game” as the best risk management strategy. “Bitcoin is a good idea but almost all bitcoiners are total idiots, can’t get nuances beyond fortune cookies. My idea is (fractal) State is needed ONLY for systemic tail risks, not messing w/daily life. Same as medicines,” Taleb wrote. Despite the push for many countries to create central bank digital currencies, there are many in the crypto community who see Bitcoin as a way to break away from traditional financial establishments. Some early BTC adopters such as Roger Ver have been staunch proponents of libertarian economics.

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Digital wallet and trading platform Uphold has announced that its users in Latin America are now able to invest in Amazon, Google, or Tesla for as little as 10,000 Satoshis. The new service makes equity investments affordable for millions of people in the region. “Uphold, the leading digital money platform, today launches a groundbreaking equities service that gives millions of people in Latin America easy and affordable access to U.S. stocks for the first time,” the company’s press release says. Inflation debases the little savings that the locals of many countries in Latin America make. “If locals had access to this kind of service back in 2010, they would have been able to preserve their wealth much better,” Uphold CEO J.P. Thieriot said.

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