BTC Holders Are Blamed for Stupidity

David Kemp

The recent reports often mention the statement made by Nassim Taleb. Some know him as a university professor. He also wrote a book called Black Swan. According to Taleb, the majority of those who deal with cryptocurrencies do not understand their nuances and make the most common mistakes. This includes people who hold Bitcoin – almost all of them have no idea how to deal with it and what needs to be done to gain profits.

Source of image: https://twitter.com/nntaleb

Taleb is also famous for his Skin in the Game and has found plenty of followers and fans across the globe. Recently, the university professor managed to get into a minor Twitter feud. He mainly did it to be able to talk to the audience and explain his point of view. As media outlets report, Taleb is ready and willing to meet investors and tell them more about the nuances of the most influential cryptocurrencies.

He has done plenty of research on the crypto market and knows the main trends and tendencies hence he can now teach and instruct people to help them make full use of the assets they possess. According to Taleb, almost all crypto investors do the wrong sort of things and how they behave can only make them fail in the long run.

Nassim is an active Twitter user and he often takes part in forums and discussions on the Internet. He is also interested in the crypto community and the opportunities it offers. Taleb admits that cryptocurrencies are great as long as the investor knows some certain details. In his tweet, he sounds rather harsh calling all BTC holder ‘total idiots’. However, he is ready to explain his opinion and claims that it is based on his observations and experience.

Discussions and Arguments

Taleb got involved in numerous discussions with other users and BTC enthusiasts. Some tried to challenge the professor’s point of view. The talks covered many subjects and especially the imposing central planning that typically politicians and bureaucrats apply and mentioned that there are certain strategies that can reduce the risks and help to manage the situation.

It seems that Taleb knows much of what remains unseen to other participants. He knows and understands that the State may be of use only for systemic tail risks. He objects to it in general saying that it should not try to mess with people’s daily lives. He compares all this to medicines. Most of those who kept track of the discussion supported his opinion, and yet there were plenty of users who believed that what the professor says does not sound quite right and is just his subjective opinion.

What the professor said reached influential Wall Street traders. Much of what was said sounded like a debate and the arguments that came from each participant were based on a certain level of knowledge and experience.

Whichever viewpoint you choose to support is of least importance at the moment. The discussion is not yet over and there are plenty of other facts and arguments each side can present to prove that the opponent is wrong in his statements. Even though Taleb considers BTC traders idiots, there are thousands of participants in the crypto industry who see cryptocurrencies as a great way to escape from traditional financial establishments.

Our society needs to move further and make changes to improve the current system and modern crypto technologies and new projects give us hope that the traditional market will transform. Unfortunately, there are still too many restrictions and regulations that won’t let the crypto market develop and grow at a faster speed.