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Bitcoin a bulwark against crises

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January 24, 2018 | 

Joanna Newman |  0 Comments| 

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Faced with the Bitcoin phenomenon, the world of economists is shared.

Many people have long been screaming at the bubble.

Yet others, like the US-Lebanese economist and philosopher Nassim Taleb, are not so pessimistic.


Who can predict the future of Bitcoin?


It is true that Bitcoin is relatively new, but above all, it is a currency that does not resemble currencies as we know them and in this sense, no known model is really applicable to it.

This is why it may be time to ask the question: can economists have the means to analyze this Bitcoin phenomenon and anticipate its future?

The opinion of the economist Nassim Taleb


Nassim Taleb is the author of the bestseller "The Black Swan" published in April 2017. In this book he predicted the crisis of 2008. For him, the answer to the previous question is definitely: "no".

He expresses it clearly:

"The experts are no longer experts and they do not know it! "

"The old bosses of the Fed had too little understanding of reality, but we discovered it a little too late ..." he says.

On the other hand, for him, the idea of ​​Bitcoin is excellent. Because its peculiarity is that it has no owner. "No body can decide its future."

He pursues :

"Bitcoin belongs to the crowd, that is, to its users. Moreover Bitcoin already has a seniority of several years, enough to have its assured existence.

"Bitcoin may fail, but it will be easy to reinvent it"


These reflections, he published in the introduction of the book of the Lebanese economist, Saifdin Amos, "the standard of the bitcoin" which will be released soon.

Taleb explains the benefits of Bitcoin on values ​​like gold:

"When you buy gold, banks dominate the game and governments dominate the banks. The big advantage of Bitcoin is that it does not require any protection service. No government has a hold on the code in your head.

Bitcoin may fail. But it will be easy to reinvent it because we know how it works. "

Finally, he ends by saying: "for the moment Bitcoin may not be practical enough for trading and is not good enough to buy a coffee ... ..But it proves that the currency will no longer be the monopoly of governments.

This gives us the assurance of an Orwellian future. "

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