‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme

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‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme

CNBC2021-04-23

KEY POINTS “Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation. “Basically, there’s no connection between ...

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Boo2020
·2021-04-25
What about the limited supply of btc?? N the recognition And trust that everyone has on btc.
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AhKeong
·2021-04-25
Regardless how you put it.... The world is buying and playing this game... The only chance we have to be part of it is to rock them down to a much lower price that we can buy in to gain from it.
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Cyou2
·2021-04-25
Ok
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2
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- Lzoakz:
  Ok
  2021-04-25
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JaydenSee
·2021-04-25
Pls like and comments
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3
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- JaydenSee:
  [财迷]
  2021-04-26
  Reply
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- EV8:
  ??
  2021-04-25
  Reply
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Bronnie
·2021-04-25
Nah
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3
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nywles
·2021-04-25
Not sure about Ponzi but it is highly speculative
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1
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- nywles:
  [微笑]
  2021-04-25
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- lfc:
  true
  2021-04-25
  Reply
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Tslverde
·2021-04-25
Looks like.
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- phantom74:
  cdsF
  2021-04-25
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滚筒
·2021-04-25
When will he change his mind again...?Ok. dont take it negatively. It's good to assess new evidences and rethink our position.As it currently stand, (in my view) btc is pure speculation.
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TL1M
·2021-04-25
Ponzu scheme is entirely different in nature.
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- 滚筒:
  agree
  2021-04-25
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HH浩
·2021-04-25
What if the currency master which is the central bank around the world, decides to stopfunding the liquidity, or come out better ideathan printing money to ignite the growth of economy? Will cryto-currency continue to soar? It’s a classic case of demand and supply and nothing else.
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JWZ137
·2021-04-25
Good
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2
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- MicroStrategist:
  yeah
  2021-04-25
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TemasekHodl
·2021-04-25
Please like and comment
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5
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- T2183coins:
  Pls like & comment
  2021-04-25
  Reply
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- TL1M:
  Done
  2021-04-25
  Reply
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amazinggrace
·2021-04-25
I used to like Bitcoin too. But in principle it’s really a worthless asset. And too volatile, fees too high, not scalable so will never support a bulk of the world’s tranasactions. And it’s polluting and just wasting computing power
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KFChen
·2021-04-25
Roller coster
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AxThePro
·2021-04-25
Any thoughts?
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Ola5528
·2021-04-25
People who don’t understand crypto will keep calling it a scam and continue to miss out on this opportunity. DYOR - this is a once in a lifetime investment opportunity with moonshot gains. Still early days!
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Dittosg
·2021-04-25
Isit a fud
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6
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- AxThePro:
  YEs.
  2021-04-25
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Huatkor
·2021-04-25
Very wise and insightful thoughts from the ggreat man. A currency whose price pattern is more volatile than a stock cannot qualify as a currency.
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Patek1975
·2021-04-25
Agree like tokens
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- Patek1975:
  It is like tokens
  2021-04-25
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STT1987
·2021-04-25
Go go go
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- taykaiz:
  HODL
  2021-04-25
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- AxThePro:
  To the moon.
  2021-04-25
  Reply
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- STT1987:
  Up up up
  2021-04-25
  Reply
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But he has since changed his mind.\n\n“Black Swan” author Nassim Taleb on Friday criticized bitcoin as a “gimmick,” telling CNBC he believes it’s too volatile to be an effective currency and it’s not a safe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin. None. I mean, you can have hyperinflation and bitcoin going to zero. There’s no link between them,” Taleb said in a “Squawk Box” interview.\n“It’s a beautifully set up cryptographic system. It’s well made but there’s absolutely no reason it should be linked to anything economic,” added Taleb, whose bestselling 2007 book examined highly improbable events and their potential to cause severe consequences. He said bitcoin has characteristics of what he calls a Ponzi scheme that’s right out in the open.\nA Ponzi scheme is a type of fraud whereby crooks steal money from investors and mask the theft by funneling returns to clients from funds contributed by newer investors.\nTaleb had once held favorable views toward bitcoin, which was created in 2009 and is the world’s largest cryptocurrency by market value. However, he told CNBC he was “fooled by it initially” because he thought it could develop into a currency used in transactions.\n“Something that moves 5% a day, 20% in a month — up or down — cannot be a currency. It’s something else,” said Taleb, a former derivatives trader who serves as scientific advisor to hedge fund Universa Investments.\n“I bought into it ... not willing to have capital appreciation, so much as wanting to have an alternative to the fiat currency issued by central banks: A currency without a government,” Taleb said. “I realized it was not a currency without a government. It was just pure speculation. It’s just like a game ... I mean, you can create another game and call it a currency.”\nWhile some businesses do accept bitcoin as payment for goods and services, including electric vehicle maker Tesla, there are those in the crypto community who think it’s actually an asset and store of value. Bitcoin, which has its supply capped at 21 million tokens, has been described as “digital gold.”\n“It’s easily transportable and can be sent anywhere in the world if you have a smartphone so it’s a much better version, as a store of value, than gold,” famed value investor Bill Miller told CNBC earlier this week.\n“With bitcoin, volatility is the price you pay for performance,” added Miller, who has also previously contended bitcoin grows less risky as adoption and its price increases.\nIndeed, the price of bitcoin has soared higher in recent months — rising from under $11,000 per unit as recently as October to an all-time high of nearly $65,000 last week. Increased institutional adoption has been cited as one factor in its climb.\nIn keeping with its propensity for wild price swings, bitcoin has tumbled in the days since, ultimately breaking below $50,000 per token earlier Friday, a 23% drop in a little more than a week. However, the price has still risen more than 70% year to date,according to Coindesk.\nBitcoin has received long-term price targets between $400,000 and $600,000 per token from some people in the investment community, including Guggenheim Partners’Scott Minerd; others have projected even higher than that.\nTaleb suggested bitcoin’s price is not what informs his now-critical view, saying “bitcoin could go to $1 million” and it wouldn’t change his argument. “These gimmicks, you have bitcoin today. You may have another one tomorrow. They come and go, and there’s no systematic link between them and the claims they make,” he added.\nInvestors who are worried about inflation would be better off purchasing property than investing in bitcoin, Taleb said. “If you want to hedge against inflation, buy a piece of land. Grow, I don’t know, olives on it. You’ll have olive oil. If the price collapses, you’ll have something.”\n“But bitcoin, there’s no connection and, of course, the best strategy for investors is to own things that produce yields in the future. In other words, you can fall back on real dollars coming out of the company,” he said.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":375120297,"gmtCreate":1619316876619,"gmtModify":1704722340418,"author":{"id":"3572316669494636","authorId":"3572316669494636","name":"Boo2020","avatar":"https://static.tigerbbs.com/b9140860aa799166f7ff2aef054c4197","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3572316669494636","authorIdStr":"3572316669494636"},"htmlText":"What about the limited supply of btc?? N the recognition And trust that everyone has on btc.","listText":"What about the limited supply of btc?? N the recognition And trust that everyone has on btc.","text":"What about the limited supply of btc?? 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But he has since changed his mind.\n\n“Black Swan” author Nassim Taleb on Friday criticized bitcoin as a “gimmick,” telling CNBC he believes it’s too volatile to be an effective currency and it’s not a safe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin. None. I mean, you can have hyperinflation and bitcoin going to zero. There’s no link between them,” Taleb said in a “Squawk Box” interview.\n“It’s a beautifully set up cryptographic system. It’s well made but there’s absolutely no reason it should be linked to anything economic,” added Taleb, whose bestselling 2007 book examined highly improbable events and their potential to cause severe consequences. He said bitcoin has characteristics of what he calls a Ponzi scheme that’s right out in the open.\nA Ponzi scheme is a type of fraud whereby crooks steal money from investors and mask the theft by funneling returns to clients from funds contributed by newer investors.\nTaleb had once held favorable views toward bitcoin, which was created in 2009 and is the world’s largest cryptocurrency by market value. However, he told CNBC he was “fooled by it initially” because he thought it could develop into a currency used in transactions.\n“Something that moves 5% a day, 20% in a month — up or down — cannot be a currency. It’s something else,” said Taleb, a former derivatives trader who serves as scientific advisor to hedge fund Universa Investments.\n“I bought into it ... not willing to have capital appreciation, so much as wanting to have an alternative to the fiat currency issued by central banks: A currency without a government,” Taleb said. “I realized it was not a currency without a government. It was just pure speculation. It’s just like a game ... I mean, you can create another game and call it a currency.”\nWhile some businesses do accept bitcoin as payment for goods and services, including electric vehicle maker Tesla, there are those in the crypto community who think it’s actually an asset and store of value. Bitcoin, which has its supply capped at 21 million tokens, has been described as “digital gold.”\n“It’s easily transportable and can be sent anywhere in the world if you have a smartphone so it’s a much better version, as a store of value, than gold,” famed value investor Bill Miller told CNBC earlier this week.\n“With bitcoin, volatility is the price you pay for performance,” added Miller, who has also previously contended bitcoin grows less risky as adoption and its price increases.\nIndeed, the price of bitcoin has soared higher in recent months — rising from under $11,000 per unit as recently as October to an all-time high of nearly $65,000 last week. Increased institutional adoption has been cited as one factor in its climb.\nIn keeping with its propensity for wild price swings, bitcoin has tumbled in the days since, ultimately breaking below $50,000 per token earlier Friday, a 23% drop in a little more than a week. However, the price has still risen more than 70% year to date,according to Coindesk.\nBitcoin has received long-term price targets between $400,000 and $600,000 per token from some people in the investment community, including Guggenheim Partners’Scott Minerd; others have projected even higher than that.\nTaleb suggested bitcoin’s price is not what informs his now-critical view, saying “bitcoin could go to $1 million” and it wouldn’t change his argument. “These gimmicks, you have bitcoin today. You may have another one tomorrow. They come and go, and there’s no systematic link between them and the claims they make,” he added.\nInvestors who are worried about inflation would be better off purchasing property than investing in bitcoin, Taleb said. “If you want to hedge against inflation, buy a piece of land. Grow, I don’t know, olives on it. You’ll have olive oil. If the price collapses, you’ll have something.”\n“But bitcoin, there’s no connection and, of course, the best strategy for investors is to own things that produce yields in the future. In other words, you can fall back on real dollars coming out of the company,” he said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":375183281,"gmtCreate":1619315520043,"gmtModify":1704722315100,"author":{"id":"3579764463709225","authorId":"3579764463709225","name":"AhKeong","avatar":"https://community-static.tradeup.com/news/b20c0291da6c54ef8f3c421a4ed45c27","vip":1,"crmLevel":2,"crmLevelSwitch":1,"idStr":"3579764463709225","authorIdStr":"3579764463709225"},"htmlText":"Regardless how you put it....&nbsp; The world is buying and playing this game...&nbsp; The only chance we have to be part of it is to rock them down to a much lower price that we can buy in to gain from it.&nbsp;&nbsp;","listText":"Regardless how you put it....&nbsp; The world is buying and playing this game...&nbsp; The only chance we have to be part of it is to rock them down to a much lower price that we can buy in to gain from it.&nbsp;&nbsp;","text":"Regardless how you put it.... The world is buying and playing this game... The only chance we have to be part of it is to rock them down to a much lower price that we can buy in to gain from it.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/375183281","repostId":1179843002,"repostType":4,"repost":{"id":"1179843002","pubTimestamp":1619190162,"share":"https://ttm.financial/m/news/1179843002?lang=&edition=fundamental","pubTime":"2021-04-23 23:02","market":"us","language":"en","title":"‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme","url":"https://stock-news.laohu8.com/highlight/detail?id=1179843002","media":"CNBC","summary":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be","content":"<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 23:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SQ":"Block","GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉","PYPL":"PayPal"},"source_url":"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1179843002","content_text":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin,” the former derivatives trader and current hedge fund advisor told CNBC on Friday.\nTaleb had once believed bitcoin was a promising new currency, because it was not controlled by a government. But he has since changed his mind.\n\n“Black Swan” author Nassim Taleb on Friday criticized bitcoin as a “gimmick,” telling CNBC he believes it’s too volatile to be an effective currency and it’s not a safe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin. None. I mean, you can have hyperinflation and bitcoin going to zero. There’s no link between them,” Taleb said in a “Squawk Box” interview.\n“It’s a beautifully set up cryptographic system. It’s well made but there’s absolutely no reason it should be linked to anything economic,” added Taleb, whose bestselling 2007 book examined highly improbable events and their potential to cause severe consequences. He said bitcoin has characteristics of what he calls a Ponzi scheme that’s right out in the open.\nA Ponzi scheme is a type of fraud whereby crooks steal money from investors and mask the theft by funneling returns to clients from funds contributed by newer investors.\nTaleb had once held favorable views toward bitcoin, which was created in 2009 and is the world’s largest cryptocurrency by market value. However, he told CNBC he was “fooled by it initially” because he thought it could develop into a currency used in transactions.\n“Something that moves 5% a day, 20% in a month — up or down — cannot be a currency. It’s something else,” said Taleb, a former derivatives trader who serves as scientific advisor to hedge fund Universa Investments.\n“I bought into it ... not willing to have capital appreciation, so much as wanting to have an alternative to the fiat currency issued by central banks: A currency without a government,” Taleb said. “I realized it was not a currency without a government. It was just pure speculation. It’s just like a game ... I mean, you can create another game and call it a currency.”\nWhile some businesses do accept bitcoin as payment for goods and services, including electric vehicle maker Tesla, there are those in the crypto community who think it’s actually an asset and store of value. Bitcoin, which has its supply capped at 21 million tokens, has been described as “digital gold.”\n“It’s easily transportable and can be sent anywhere in the world if you have a smartphone so it’s a much better version, as a store of value, than gold,” famed value investor Bill Miller told CNBC earlier this week.\n“With bitcoin, volatility is the price you pay for performance,” added Miller, who has also previously contended bitcoin grows less risky as adoption and its price increases.\nIndeed, the price of bitcoin has soared higher in recent months — rising from under $11,000 per unit as recently as October to an all-time high of nearly $65,000 last week. Increased institutional adoption has been cited as one factor in its climb.\nIn keeping with its propensity for wild price swings, bitcoin has tumbled in the days since, ultimately breaking below $50,000 per token earlier Friday, a 23% drop in a little more than a week. However, the price has still risen more than 70% year to date,according to Coindesk.\nBitcoin has received long-term price targets between $400,000 and $600,000 per token from some people in the investment community, including Guggenheim Partners’Scott Minerd; others have projected even higher than that.\nTaleb suggested bitcoin’s price is not what informs his now-critical view, saying “bitcoin could go to $1 million” and it wouldn’t change his argument. “These gimmicks, you have bitcoin today. You may have another one tomorrow. They come and go, and there’s no systematic link between them and the claims they make,” he added.\nInvestors who are worried about inflation would be better off purchasing property than investing in bitcoin, Taleb said. “If you want to hedge against inflation, buy a piece of land. Grow, I don’t know, olives on it. You’ll have olive oil. If the price collapses, you’ll have something.”\n“But bitcoin, there’s no connection and, of course, the best strategy for investors is to own things that produce yields in the future. In other words, you can fall back on real dollars coming out of the company,” he said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":375134471,"gmtCreate":1619314679793,"gmtModify":1704722295784,"author":{"id":"3571614044609884","authorId":"3571614044609884","name":"Cyou2","avatar":"https://static.tigerbbs.com/3a385102af21e008d83ec34e819d2fe8","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3571614044609884","authorIdStr":"3571614044609884"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/375134471","repostId":1179843002,"repostType":4,"repost":{"id":"1179843002","pubTimestamp":1619190162,"share":"https://ttm.financial/m/news/1179843002?lang=&edition=fundamental","pubTime":"2021-04-23 23:02","market":"us","language":"en","title":"‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme","url":"https://stock-news.laohu8.com/highlight/detail?id=1179843002","media":"CNBC","summary":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be","content":"<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 23:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SQ":"Block","GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉","PYPL":"PayPal"},"source_url":"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1179843002","content_text":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin,” the former derivatives trader and current hedge fund advisor told CNBC on Friday.\nTaleb had once believed bitcoin was a promising new currency, because it was not controlled by a government. But he has since changed his mind.\n\n“Black Swan” author Nassim Taleb on Friday criticized bitcoin as a “gimmick,” telling CNBC he believes it’s too volatile to be an effective currency and it’s not a safe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin. None. I mean, you can have hyperinflation and bitcoin going to zero. There’s no link between them,” Taleb said in a “Squawk Box” interview.\n“It’s a beautifully set up cryptographic system. It’s well made but there’s absolutely no reason it should be linked to anything economic,” added Taleb, whose bestselling 2007 book examined highly improbable events and their potential to cause severe consequences. He said bitcoin has characteristics of what he calls a Ponzi scheme that’s right out in the open.\nA Ponzi scheme is a type of fraud whereby crooks steal money from investors and mask the theft by funneling returns to clients from funds contributed by newer investors.\nTaleb had once held favorable views toward bitcoin, which was created in 2009 and is the world’s largest cryptocurrency by market value. However, he told CNBC he was “fooled by it initially” because he thought it could develop into a currency used in transactions.\n“Something that moves 5% a day, 20% in a month — up or down — cannot be a currency. It’s something else,” said Taleb, a former derivatives trader who serves as scientific advisor to hedge fund Universa Investments.\n“I bought into it ... not willing to have capital appreciation, so much as wanting to have an alternative to the fiat currency issued by central banks: A currency without a government,” Taleb said. “I realized it was not a currency without a government. It was just pure speculation. It’s just like a game ... I mean, you can create another game and call it a currency.”\nWhile some businesses do accept bitcoin as payment for goods and services, including electric vehicle maker Tesla, there are those in the crypto community who think it’s actually an asset and store of value. Bitcoin, which has its supply capped at 21 million tokens, has been described as “digital gold.”\n“It’s easily transportable and can be sent anywhere in the world if you have a smartphone so it’s a much better version, as a store of value, than gold,” famed value investor Bill Miller told CNBC earlier this week.\n“With bitcoin, volatility is the price you pay for performance,” added Miller, who has also previously contended bitcoin grows less risky as adoption and its price increases.\nIndeed, the price of bitcoin has soared higher in recent months — rising from under $11,000 per unit as recently as October to an all-time high of nearly $65,000 last week. Increased institutional adoption has been cited as one factor in its climb.\nIn keeping with its propensity for wild price swings, bitcoin has tumbled in the days since, ultimately breaking below $50,000 per token earlier Friday, a 23% drop in a little more than a week. However, the price has still risen more than 70% year to date,according to Coindesk.\nBitcoin has received long-term price targets between $400,000 and $600,000 per token from some people in the investment community, including Guggenheim Partners’Scott Minerd; others have projected even higher than that.\nTaleb suggested bitcoin’s price is not what informs his now-critical view, saying “bitcoin could go to $1 million” and it wouldn’t change his argument. “These gimmicks, you have bitcoin today. You may have another one tomorrow. They come and go, and there’s no systematic link between them and the claims they make,” he added.\nInvestors who are worried about inflation would be better off purchasing property than investing in bitcoin, Taleb said. “If you want to hedge against inflation, buy a piece of land. Grow, I don’t know, olives on it. You’ll have olive oil. If the price collapses, you’ll have something.”\n“But bitcoin, there’s no connection and, of course, the best strategy for investors is to own things that produce yields in the future. In other words, you can fall back on real dollars coming out of the company,” he said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4128101,"gmtCreate":1619331863635,"gmtModify":1680785509055,"authorId":3571099496073631,"author":{"id":3571099496073631,"idStr":"3571099496073631","authorId":3571099496073631,"name":"Lzoakz","avatar":"https://static.tigerbbs.com/1b25fe5f61dfcb3947c3347cb6e1bd6f","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":375134471,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"}],"langContent":"EN"},{"id":375136306,"gmtCreate":1619314488805,"gmtModify":1704722290774,"author":{"id":"3571546243427161","authorId":"3571546243427161","name":"JaydenSee","avatar":"https://static.tigerbbs.com/f81b1d1b9ef76e9028b0f68e5a5d3553","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3571546243427161","authorIdStr":"3571546243427161"},"htmlText":"Pls like and comments&nbsp;","listText":"Pls like and comments&nbsp;","text":"Pls like and comments","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/375136306","repostId":1179843002,"repostType":4,"repost":{"id":"1179843002","pubTimestamp":1619190162,"share":"https://ttm.financial/m/news/1179843002?lang=&edition=fundamental","pubTime":"2021-04-23 23:02","market":"us","language":"en","title":"‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme","url":"https://stock-news.laohu8.com/highlight/detail?id=1179843002","media":"CNBC","summary":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be","content":"<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 23:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SQ":"Block","GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉","PYPL":"PayPal"},"source_url":"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1179843002","content_text":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin,” the former derivatives trader and current hedge fund advisor told CNBC on Friday.\nTaleb had once believed bitcoin was a promising new currency, because it was not controlled by a government. But he has since changed his mind.\n\n“Black Swan” author Nassim Taleb on Friday criticized bitcoin as a “gimmick,” telling CNBC he believes it’s too volatile to be an effective currency and it’s not a safe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin. None. I mean, you can have hyperinflation and bitcoin going to zero. There’s no link between them,” Taleb said in a “Squawk Box” interview.\n“It’s a beautifully set up cryptographic system. It’s well made but there’s absolutely no reason it should be linked to anything economic,” added Taleb, whose bestselling 2007 book examined highly improbable events and their potential to cause severe consequences. He said bitcoin has characteristics of what he calls a Ponzi scheme that’s right out in the open.\nA Ponzi scheme is a type of fraud whereby crooks steal money from investors and mask the theft by funneling returns to clients from funds contributed by newer investors.\nTaleb had once held favorable views toward bitcoin, which was created in 2009 and is the world’s largest cryptocurrency by market value. However, he told CNBC he was “fooled by it initially” because he thought it could develop into a currency used in transactions.\n“Something that moves 5% a day, 20% in a month — up or down — cannot be a currency. It’s something else,” said Taleb, a former derivatives trader who serves as scientific advisor to hedge fund Universa Investments.\n“I bought into it ... not willing to have capital appreciation, so much as wanting to have an alternative to the fiat currency issued by central banks: A currency without a government,” Taleb said. “I realized it was not a currency without a government. It was just pure speculation. It’s just like a game ... I mean, you can create another game and call it a currency.”\nWhile some businesses do accept bitcoin as payment for goods and services, including electric vehicle maker Tesla, there are those in the crypto community who think it’s actually an asset and store of value. Bitcoin, which has its supply capped at 21 million tokens, has been described as “digital gold.”\n“It’s easily transportable and can be sent anywhere in the world if you have a smartphone so it’s a much better version, as a store of value, than gold,” famed value investor Bill Miller told CNBC earlier this week.\n“With bitcoin, volatility is the price you pay for performance,” added Miller, who has also previously contended bitcoin grows less risky as adoption and its price increases.\nIndeed, the price of bitcoin has soared higher in recent months — rising from under $11,000 per unit as recently as October to an all-time high of nearly $65,000 last week. Increased institutional adoption has been cited as one factor in its climb.\nIn keeping with its propensity for wild price swings, bitcoin has tumbled in the days since, ultimately breaking below $50,000 per token earlier Friday, a 23% drop in a little more than a week. However, the price has still risen more than 70% year to date,according to Coindesk.\nBitcoin has received long-term price targets between $400,000 and $600,000 per token from some people in the investment community, including Guggenheim Partners’Scott Minerd; others have projected even higher than that.\nTaleb suggested bitcoin’s price is not what informs his now-critical view, saying “bitcoin could go to $1 million” and it wouldn’t change his argument. “These gimmicks, you have bitcoin today. You may have another one tomorrow. They come and go, and there’s no systematic link between them and the claims they make,” he added.\nInvestors who are worried about inflation would be better off purchasing property than investing in bitcoin, Taleb said. “If you want to hedge against inflation, buy a piece of land. Grow, I don’t know, olives on it. You’ll have olive oil. If the price collapses, you’ll have something.”\n“But bitcoin, there’s no connection and, of course, the best strategy for investors is to own things that produce yields in the future. In other words, you can fall back on real dollars coming out of the company,” he said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4135855,"gmtCreate":1619414596664,"gmtModify":1680785632326,"authorId":3571546243427161,"author":{"id":3571546243427161,"idStr":"3571546243427161","authorId":3571546243427161,"name":"JaydenSee","avatar":"https://static.tigerbbs.com/f81b1d1b9ef76e9028b0f68e5a5d3553","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":375136306,"type":1,"supId":4130174,"prevId":0,"content":"[财迷]","text":"[财迷]","html":"[财迷]"},{"id":4130174,"gmtCreate":1619356547410,"gmtModify":1680785542015,"authorId":3576472032670521,"author":{"id":3576472032670521,"idStr":"3576472032670521","authorId":3576472032670521,"name":"EV8","avatar":"https://community-static.tradeup.com/news/49db5086746d5ad4581b298b77a14995","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-1","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Elite Trader","description":"Total number of securities or futures transactions reached 30","bigImgUrl":"https://static.tigerbbs.com/ab0f87127c854ce3191a752d57b46edc","smallImgUrl":"https://static.tigerbbs.com/c9835ce48b8c8743566d344ac7a7ba8c","grayImgUrl":"https://static.tigerbbs.com/76754b53ce7a90019f132c1d2fbc698f","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"60.79%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":4,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":375136306,"type":1,"supId":0,"prevId":0,"content":"??","text":"??","html":"??"}],"langContent":"EN"},{"id":375194820,"gmtCreate":1619314166360,"gmtModify":1704722280731,"author":{"id":"3581860243492977","authorId":"3581860243492977","name":"Bronnie","avatar":"https://static.tigerbbs.com/4f6c335b6f4c9372c2987f3826de16d0","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3581860243492977","authorIdStr":"3581860243492977"},"htmlText":"Nah","listText":"Nah","text":"Nah","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/375194820","repostId":1179843002,"repostType":4,"repost":{"id":"1179843002","pubTimestamp":1619190162,"share":"https://ttm.financial/m/news/1179843002?lang=&edition=fundamental","pubTime":"2021-04-23 23:02","market":"us","language":"en","title":"‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme","url":"https://stock-news.laohu8.com/highlight/detail?id=1179843002","media":"CNBC","summary":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be","content":"<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 23:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SQ":"Block","GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉","PYPL":"PayPal"},"source_url":"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1179843002","content_text":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin,” the former derivatives trader and current hedge fund advisor told CNBC on Friday.\nTaleb had once believed bitcoin was a promising new currency, because it was not controlled by a government. But he has since changed his mind.\n\n“Black Swan” author Nassim Taleb on Friday criticized bitcoin as a “gimmick,” telling CNBC he believes it’s too volatile to be an effective currency and it’s not a safe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin. None. I mean, you can have hyperinflation and bitcoin going to zero. There’s no link between them,” Taleb said in a “Squawk Box” interview.\n“It’s a beautifully set up cryptographic system. It’s well made but there’s absolutely no reason it should be linked to anything economic,” added Taleb, whose bestselling 2007 book examined highly improbable events and their potential to cause severe consequences. He said bitcoin has characteristics of what he calls a Ponzi scheme that’s right out in the open.\nA Ponzi scheme is a type of fraud whereby crooks steal money from investors and mask the theft by funneling returns to clients from funds contributed by newer investors.\nTaleb had once held favorable views toward bitcoin, which was created in 2009 and is the world’s largest cryptocurrency by market value. However, he told CNBC he was “fooled by it initially” because he thought it could develop into a currency used in transactions.\n“Something that moves 5% a day, 20% in a month — up or down — cannot be a currency. It’s something else,” said Taleb, a former derivatives trader who serves as scientific advisor to hedge fund Universa Investments.\n“I bought into it ... not willing to have capital appreciation, so much as wanting to have an alternative to the fiat currency issued by central banks: A currency without a government,” Taleb said. “I realized it was not a currency without a government. It was just pure speculation. It’s just like a game ... I mean, you can create another game and call it a currency.”\nWhile some businesses do accept bitcoin as payment for goods and services, including electric vehicle maker Tesla, there are those in the crypto community who think it’s actually an asset and store of value. Bitcoin, which has its supply capped at 21 million tokens, has been described as “digital gold.”\n“It’s easily transportable and can be sent anywhere in the world if you have a smartphone so it’s a much better version, as a store of value, than gold,” famed value investor Bill Miller told CNBC earlier this week.\n“With bitcoin, volatility is the price you pay for performance,” added Miller, who has also previously contended bitcoin grows less risky as adoption and its price increases.\nIndeed, the price of bitcoin has soared higher in recent months — rising from under $11,000 per unit as recently as October to an all-time high of nearly $65,000 last week. Increased institutional adoption has been cited as one factor in its climb.\nIn keeping with its propensity for wild price swings, bitcoin has tumbled in the days since, ultimately breaking below $50,000 per token earlier Friday, a 23% drop in a little more than a week. However, the price has still risen more than 70% year to date,according to Coindesk.\nBitcoin has received long-term price targets between $400,000 and $600,000 per token from some people in the investment community, including Guggenheim Partners’Scott Minerd; others have projected even higher than that.\nTaleb suggested bitcoin’s price is not what informs his now-critical view, saying “bitcoin could go to $1 million” and it wouldn’t change his argument. “These gimmicks, you have bitcoin today. You may have another one tomorrow. They come and go, and there’s no systematic link between them and the claims they make,” he added.\nInvestors who are worried about inflation would be better off purchasing property than investing in bitcoin, Taleb said. “If you want to hedge against inflation, buy a piece of land. Grow, I don’t know, olives on it. You’ll have olive oil. If the price collapses, you’ll have something.”\n“But bitcoin, there’s no connection and, of course, the best strategy for investors is to own things that produce yields in the future. In other words, you can fall back on real dollars coming out of the company,” he said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":375194159,"gmtCreate":1619314161671,"gmtModify":1704722281539,"author":{"id":"3555362771681553","authorId":"3555362771681553","name":"nywles","avatar":"https://static.tigerbbs.com/a7e6473ec2cec348d167d7d95fbdb76c","vip":1,"crmLevel":7,"crmLevelSwitch":0,"idStr":"3555362771681553","authorIdStr":"3555362771681553"},"htmlText":"Not sure about Ponzi but it is highly speculative","listText":"Not sure about Ponzi but it is highly speculative","text":"Not sure about Ponzi but it is highly speculative","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/375194159","repostId":1179843002,"repostType":4,"repost":{"id":"1179843002","pubTimestamp":1619190162,"share":"https://ttm.financial/m/news/1179843002?lang=&edition=fundamental","pubTime":"2021-04-23 23:02","market":"us","language":"en","title":"‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme","url":"https://stock-news.laohu8.com/highlight/detail?id=1179843002","media":"CNBC","summary":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be","content":"<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 23:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SQ":"Block","GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉","PYPL":"PayPal"},"source_url":"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1179843002","content_text":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin,” the former derivatives trader and current hedge fund advisor told CNBC on Friday.\nTaleb had once believed bitcoin was a promising new currency, because it was not controlled by a government. But he has since changed his mind.\n\n“Black Swan” author Nassim Taleb on Friday criticized bitcoin as a “gimmick,” telling CNBC he believes it’s too volatile to be an effective currency and it’s not a safe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin. None. I mean, you can have hyperinflation and bitcoin going to zero. There’s no link between them,” Taleb said in a “Squawk Box” interview.\n“It’s a beautifully set up cryptographic system. It’s well made but there’s absolutely no reason it should be linked to anything economic,” added Taleb, whose bestselling 2007 book examined highly improbable events and their potential to cause severe consequences. He said bitcoin has characteristics of what he calls a Ponzi scheme that’s right out in the open.\nA Ponzi scheme is a type of fraud whereby crooks steal money from investors and mask the theft by funneling returns to clients from funds contributed by newer investors.\nTaleb had once held favorable views toward bitcoin, which was created in 2009 and is the world’s largest cryptocurrency by market value. However, he told CNBC he was “fooled by it initially” because he thought it could develop into a currency used in transactions.\n“Something that moves 5% a day, 20% in a month — up or down — cannot be a currency. It’s something else,” said Taleb, a former derivatives trader who serves as scientific advisor to hedge fund Universa Investments.\n“I bought into it ... not willing to have capital appreciation, so much as wanting to have an alternative to the fiat currency issued by central banks: A currency without a government,” Taleb said. “I realized it was not a currency without a government. It was just pure speculation. It’s just like a game ... I mean, you can create another game and call it a currency.”\nWhile some businesses do accept bitcoin as payment for goods and services, including electric vehicle maker Tesla, there are those in the crypto community who think it’s actually an asset and store of value. Bitcoin, which has its supply capped at 21 million tokens, has been described as “digital gold.”\n“It’s easily transportable and can be sent anywhere in the world if you have a smartphone so it’s a much better version, as a store of value, than gold,” famed value investor Bill Miller told CNBC earlier this week.\n“With bitcoin, volatility is the price you pay for performance,” added Miller, who has also previously contended bitcoin grows less risky as adoption and its price increases.\nIndeed, the price of bitcoin has soared higher in recent months — rising from under $11,000 per unit as recently as October to an all-time high of nearly $65,000 last week. Increased institutional adoption has been cited as one factor in its climb.\nIn keeping with its propensity for wild price swings, bitcoin has tumbled in the days since, ultimately breaking below $50,000 per token earlier Friday, a 23% drop in a little more than a week. However, the price has still risen more than 70% year to date,according to Coindesk.\nBitcoin has received long-term price targets between $400,000 and $600,000 per token from some people in the investment community, including Guggenheim Partners’Scott Minerd; others have projected even higher than that.\nTaleb suggested bitcoin’s price is not what informs his now-critical view, saying “bitcoin could go to $1 million” and it wouldn’t change his argument. “These gimmicks, you have bitcoin today. You may have another one tomorrow. They come and go, and there’s no systematic link between them and the claims they make,” he added.\nInvestors who are worried about inflation would be better off purchasing property than investing in bitcoin, Taleb said. “If you want to hedge against inflation, buy a piece of land. Grow, I don’t know, olives on it. You’ll have olive oil. If the price collapses, you’ll have something.”\n“But bitcoin, there’s no connection and, of course, the best strategy for investors is to own things that produce yields in the future. In other words, you can fall back on real dollars coming out of the company,” he said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4125769,"gmtCreate":1619315307505,"gmtModify":1680785471105,"authorId":3555362771681553,"author":{"id":3555362771681553,"idStr":"3555362771681553","authorId":3555362771681553,"name":"nywles","avatar":"https://static.tigerbbs.com/a7e6473ec2cec348d167d7d95fbdb76c","vip":1,"crmLevel":7,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":375194159,"type":1,"supId":4125743,"prevId":0,"content":"[微笑]","text":"[微笑]","html":"[微笑]"},{"id":4125743,"gmtCreate":1619315176621,"gmtModify":1680785470702,"authorId":3581548490826504,"author":{"id":3581548490826504,"idStr":"3581548490826504","authorId":3581548490826504,"name":"lfc","avatar":"https://static.tigerbbs.com/b4b2090d7d1e1d6aeaf607ff329136ac","vip":1,"crmLevel":7,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":375194159,"type":1,"supId":0,"prevId":0,"content":"<u>true</u>","text":"<u>true</u>","html":"<u>true</u>"}],"langContent":"EN"},{"id":375191412,"gmtCreate":1619313779136,"gmtModify":1704722274414,"author":{"id":"3556329315079497","authorId":"3556329315079497","name":"Tslverde","avatar":"https://static.tigerbbs.com/5f52f5991ed363792008cd868f78181c","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3556329315079497","authorIdStr":"3556329315079497"},"htmlText":"Looks like.","listText":"Looks like.","text":"Looks like.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/375191412","repostId":1179843002,"repostType":4,"repost":{"id":"1179843002","pubTimestamp":1619190162,"share":"https://ttm.financial/m/news/1179843002?lang=&edition=fundamental","pubTime":"2021-04-23 23:02","market":"us","language":"en","title":"‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme","url":"https://stock-news.laohu8.com/highlight/detail?id=1179843002","media":"CNBC","summary":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be","content":"<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 23:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SQ":"Block","GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉","PYPL":"PayPal"},"source_url":"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1179843002","content_text":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin,” the former derivatives trader and current hedge fund advisor told CNBC on Friday.\nTaleb had once believed bitcoin was a promising new currency, because it was not controlled by a government. But he has since changed his mind.\n\n“Black Swan” author Nassim Taleb on Friday criticized bitcoin as a “gimmick,” telling CNBC he believes it’s too volatile to be an effective currency and it’s not a safe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin. None. I mean, you can have hyperinflation and bitcoin going to zero. There’s no link between them,” Taleb said in a “Squawk Box” interview.\n“It’s a beautifully set up cryptographic system. It’s well made but there’s absolutely no reason it should be linked to anything economic,” added Taleb, whose bestselling 2007 book examined highly improbable events and their potential to cause severe consequences. He said bitcoin has characteristics of what he calls a Ponzi scheme that’s right out in the open.\nA Ponzi scheme is a type of fraud whereby crooks steal money from investors and mask the theft by funneling returns to clients from funds contributed by newer investors.\nTaleb had once held favorable views toward bitcoin, which was created in 2009 and is the world’s largest cryptocurrency by market value. However, he told CNBC he was “fooled by it initially” because he thought it could develop into a currency used in transactions.\n“Something that moves 5% a day, 20% in a month — up or down — cannot be a currency. It’s something else,” said Taleb, a former derivatives trader who serves as scientific advisor to hedge fund Universa Investments.\n“I bought into it ... not willing to have capital appreciation, so much as wanting to have an alternative to the fiat currency issued by central banks: A currency without a government,” Taleb said. “I realized it was not a currency without a government. It was just pure speculation. It’s just like a game ... I mean, you can create another game and call it a currency.”\nWhile some businesses do accept bitcoin as payment for goods and services, including electric vehicle maker Tesla, there are those in the crypto community who think it’s actually an asset and store of value. Bitcoin, which has its supply capped at 21 million tokens, has been described as “digital gold.”\n“It’s easily transportable and can be sent anywhere in the world if you have a smartphone so it’s a much better version, as a store of value, than gold,” famed value investor Bill Miller told CNBC earlier this week.\n“With bitcoin, volatility is the price you pay for performance,” added Miller, who has also previously contended bitcoin grows less risky as adoption and its price increases.\nIndeed, the price of bitcoin has soared higher in recent months — rising from under $11,000 per unit as recently as October to an all-time high of nearly $65,000 last week. Increased institutional adoption has been cited as one factor in its climb.\nIn keeping with its propensity for wild price swings, bitcoin has tumbled in the days since, ultimately breaking below $50,000 per token earlier Friday, a 23% drop in a little more than a week. However, the price has still risen more than 70% year to date,according to Coindesk.\nBitcoin has received long-term price targets between $400,000 and $600,000 per token from some people in the investment community, including Guggenheim Partners’Scott Minerd; others have projected even higher than that.\nTaleb suggested bitcoin’s price is not what informs his now-critical view, saying “bitcoin could go to $1 million” and it wouldn’t change his argument. “These gimmicks, you have bitcoin today. You may have another one tomorrow. They come and go, and there’s no systematic link between them and the claims they make,” he added.\nInvestors who are worried about inflation would be better off purchasing property than investing in bitcoin, Taleb said. “If you want to hedge against inflation, buy a piece of land. Grow, I don’t know, olives on it. You’ll have olive oil. If the price collapses, you’ll have something.”\n“But bitcoin, there’s no connection and, of course, the best strategy for investors is to own things that produce yields in the future. In other words, you can fall back on real dollars coming out of the company,” he said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4125544,"gmtCreate":1619314343005,"gmtModify":1680785471604,"authorId":3570342809089528,"author":{"id":3570342809089528,"idStr":"3570342809089528","authorId":3570342809089528,"name":"phantom74","avatar":"https://static.tigerbbs.com/c87ef2af41b8696be86cceafb5b5723d","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":375191412,"type":1,"supId":0,"prevId":0,"content":"<u>cdsF</u>","text":"<u>cdsF</u>","html":"<u>cdsF</u>"}],"langContent":"EN"},{"id":375373134,"gmtCreate":1619312487428,"gmtModify":1704722246086,"author":{"id":"3572057948118382","authorId":"3572057948118382","name":"滚筒","avatar":"https://static.tigerbbs.com/ff35c63639130db9306c87ac66c94640","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3572057948118382","authorIdStr":"3572057948118382"},"htmlText":"When will he change his mind again...?Ok. dont take&nbsp;it negatively. It's good to assess new evidences and rethink our position.As it currently stand, (in&nbsp;my view)&nbsp;btc is pure speculation.","listText":"When will he change his mind again...?Ok. dont take&nbsp;it negatively. It's good to assess new evidences and rethink our position.As it currently stand, (in&nbsp;my view)&nbsp;btc is pure speculation.","text":"When will he change his mind again...?Ok. dont take it negatively. It's good to assess new evidences and rethink our position.As it currently stand, (in my view) btc is pure speculation.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/375373134","repostId":1179843002,"repostType":4,"repost":{"id":"1179843002","pubTimestamp":1619190162,"share":"https://ttm.financial/m/news/1179843002?lang=&edition=fundamental","pubTime":"2021-04-23 23:02","market":"us","language":"en","title":"‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme","url":"https://stock-news.laohu8.com/highlight/detail?id=1179843002","media":"CNBC","summary":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be","content":"<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 23:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SQ":"Block","GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉","PYPL":"PayPal"},"source_url":"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1179843002","content_text":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin,” the former derivatives trader and current hedge fund advisor told CNBC on Friday.\nTaleb had once believed bitcoin was a promising new currency, because it was not controlled by a government. But he has since changed his mind.\n\n“Black Swan” author Nassim Taleb on Friday criticized bitcoin as a “gimmick,” telling CNBC he believes it’s too volatile to be an effective currency and it’s not a safe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin. None. I mean, you can have hyperinflation and bitcoin going to zero. There’s no link between them,” Taleb said in a “Squawk Box” interview.\n“It’s a beautifully set up cryptographic system. It’s well made but there’s absolutely no reason it should be linked to anything economic,” added Taleb, whose bestselling 2007 book examined highly improbable events and their potential to cause severe consequences. He said bitcoin has characteristics of what he calls a Ponzi scheme that’s right out in the open.\nA Ponzi scheme is a type of fraud whereby crooks steal money from investors and mask the theft by funneling returns to clients from funds contributed by newer investors.\nTaleb had once held favorable views toward bitcoin, which was created in 2009 and is the world’s largest cryptocurrency by market value. However, he told CNBC he was “fooled by it initially” because he thought it could develop into a currency used in transactions.\n“Something that moves 5% a day, 20% in a month — up or down — cannot be a currency. It’s something else,” said Taleb, a former derivatives trader who serves as scientific advisor to hedge fund Universa Investments.\n“I bought into it ... not willing to have capital appreciation, so much as wanting to have an alternative to the fiat currency issued by central banks: A currency without a government,” Taleb said. “I realized it was not a currency without a government. It was just pure speculation. It’s just like a game ... I mean, you can create another game and call it a currency.”\nWhile some businesses do accept bitcoin as payment for goods and services, including electric vehicle maker Tesla, there are those in the crypto community who think it’s actually an asset and store of value. Bitcoin, which has its supply capped at 21 million tokens, has been described as “digital gold.”\n“It’s easily transportable and can be sent anywhere in the world if you have a smartphone so it’s a much better version, as a store of value, than gold,” famed value investor Bill Miller told CNBC earlier this week.\n“With bitcoin, volatility is the price you pay for performance,” added Miller, who has also previously contended bitcoin grows less risky as adoption and its price increases.\nIndeed, the price of bitcoin has soared higher in recent months — rising from under $11,000 per unit as recently as October to an all-time high of nearly $65,000 last week. Increased institutional adoption has been cited as one factor in its climb.\nIn keeping with its propensity for wild price swings, bitcoin has tumbled in the days since, ultimately breaking below $50,000 per token earlier Friday, a 23% drop in a little more than a week. However, the price has still risen more than 70% year to date,according to Coindesk.\nBitcoin has received long-term price targets between $400,000 and $600,000 per token from some people in the investment community, including Guggenheim Partners’Scott Minerd; others have projected even higher than that.\nTaleb suggested bitcoin’s price is not what informs his now-critical view, saying “bitcoin could go to $1 million” and it wouldn’t change his argument. “These gimmicks, you have bitcoin today. You may have another one tomorrow. They come and go, and there’s no systematic link between them and the claims they make,” he added.\nInvestors who are worried about inflation would be better off purchasing property than investing in bitcoin, Taleb said. “If you want to hedge against inflation, buy a piece of land. Grow, I don’t know, olives on it. You’ll have olive oil. If the price collapses, you’ll have something.”\n“But bitcoin, there’s no connection and, of course, the best strategy for investors is to own things that produce yields in the future. In other words, you can fall back on real dollars coming out of the company,” he said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":375325863,"gmtCreate":1619310945152,"gmtModify":1704722213906,"author":{"id":"3560400655314166","authorId":"3560400655314166","name":"TL1M","avatar":"https://static.tigerbbs.com/ac25b2b0f6be3ec28a06c38fb7c8ed9e","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3560400655314166","authorIdStr":"3560400655314166"},"htmlText":"Ponzu scheme is entirely different in nature.&nbsp;","listText":"Ponzu scheme is entirely different in nature.&nbsp;","text":"Ponzu scheme is entirely different in nature.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/375325863","repostId":1179843002,"repostType":4,"repost":{"id":"1179843002","pubTimestamp":1619190162,"share":"https://ttm.financial/m/news/1179843002?lang=&edition=fundamental","pubTime":"2021-04-23 23:02","market":"us","language":"en","title":"‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme","url":"https://stock-news.laohu8.com/highlight/detail?id=1179843002","media":"CNBC","summary":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be","content":"<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 23:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SQ":"Block","GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉","PYPL":"PayPal"},"source_url":"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1179843002","content_text":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin,” the former derivatives trader and current hedge fund advisor told CNBC on Friday.\nTaleb had once believed bitcoin was a promising new currency, because it was not controlled by a government. But he has since changed his mind.\n\n“Black Swan” author Nassim Taleb on Friday criticized bitcoin as a “gimmick,” telling CNBC he believes it’s too volatile to be an effective currency and it’s not a safe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin. None. I mean, you can have hyperinflation and bitcoin going to zero. There’s no link between them,” Taleb said in a “Squawk Box” interview.\n“It’s a beautifully set up cryptographic system. It’s well made but there’s absolutely no reason it should be linked to anything economic,” added Taleb, whose bestselling 2007 book examined highly improbable events and their potential to cause severe consequences. He said bitcoin has characteristics of what he calls a Ponzi scheme that’s right out in the open.\nA Ponzi scheme is a type of fraud whereby crooks steal money from investors and mask the theft by funneling returns to clients from funds contributed by newer investors.\nTaleb had once held favorable views toward bitcoin, which was created in 2009 and is the world’s largest cryptocurrency by market value. However, he told CNBC he was “fooled by it initially” because he thought it could develop into a currency used in transactions.\n“Something that moves 5% a day, 20% in a month — up or down — cannot be a currency. It’s something else,” said Taleb, a former derivatives trader who serves as scientific advisor to hedge fund Universa Investments.\n“I bought into it ... not willing to have capital appreciation, so much as wanting to have an alternative to the fiat currency issued by central banks: A currency without a government,” Taleb said. “I realized it was not a currency without a government. It was just pure speculation. It’s just like a game ... I mean, you can create another game and call it a currency.”\nWhile some businesses do accept bitcoin as payment for goods and services, including electric vehicle maker Tesla, there are those in the crypto community who think it’s actually an asset and store of value. Bitcoin, which has its supply capped at 21 million tokens, has been described as “digital gold.”\n“It’s easily transportable and can be sent anywhere in the world if you have a smartphone so it’s a much better version, as a store of value, than gold,” famed value investor Bill Miller told CNBC earlier this week.\n“With bitcoin, volatility is the price you pay for performance,” added Miller, who has also previously contended bitcoin grows less risky as adoption and its price increases.\nIndeed, the price of bitcoin has soared higher in recent months — rising from under $11,000 per unit as recently as October to an all-time high of nearly $65,000 last week. Increased institutional adoption has been cited as one factor in its climb.\nIn keeping with its propensity for wild price swings, bitcoin has tumbled in the days since, ultimately breaking below $50,000 per token earlier Friday, a 23% drop in a little more than a week. However, the price has still risen more than 70% year to date,according to Coindesk.\nBitcoin has received long-term price targets between $400,000 and $600,000 per token from some people in the investment community, including Guggenheim Partners’Scott Minerd; others have projected even higher than that.\nTaleb suggested bitcoin’s price is not what informs his now-critical view, saying “bitcoin could go to $1 million” and it wouldn’t change his argument. “These gimmicks, you have bitcoin today. You may have another one tomorrow. They come and go, and there’s no systematic link between them and the claims they make,” he added.\nInvestors who are worried about inflation would be better off purchasing property than investing in bitcoin, Taleb said. “If you want to hedge against inflation, buy a piece of land. Grow, I don’t know, olives on it. You’ll have olive oil. If the price collapses, you’ll have something.”\n“But bitcoin, there’s no connection and, of course, the best strategy for investors is to own things that produce yields in the future. In other words, you can fall back on real dollars coming out of the company,” he said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4125175,"gmtCreate":1619312633575,"gmtModify":1680785462471,"authorId":3572057948118382,"author":{"id":3572057948118382,"idStr":"3572057948118382","authorId":3572057948118382,"name":"滚筒","avatar":"https://static.tigerbbs.com/ff35c63639130db9306c87ac66c94640","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":375325863,"type":1,"supId":0,"prevId":0,"content":"<u>agree</u>","text":"<u>agree</u>","html":"<u>agree</u>"}],"langContent":"EN"},{"id":375366619,"gmtCreate":1619309938631,"gmtModify":1704722197544,"author":{"id":"3582015516749888","authorId":"3582015516749888","name":"HH浩","avatar":"https://static.tigerbbs.com/2639351c97027c6f71c4d9729ef216d8","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3582015516749888","authorIdStr":"3582015516749888"},"htmlText":"What if the currency master which is the central bank around the world, decides to stopfunding the liquidity, or come out better ideathan printing money to ignite the growth of economy? Will cryto-currency continue to soar? It’s a classic case of demand and supply and nothing else.&nbsp;","listText":"What if the currency master which is the central bank around the world, decides to stopfunding the liquidity, or come out better ideathan printing money to ignite the growth of economy? Will cryto-currency continue to soar? It’s a classic case of demand and supply and nothing else.&nbsp;","text":"What if the currency master which is the central bank around the world, decides to stopfunding the liquidity, or come out better ideathan printing money to ignite the growth of economy? Will cryto-currency continue to soar? It’s a classic case of demand and supply and nothing else.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/375366619","repostId":1179843002,"repostType":4,"repost":{"id":"1179843002","pubTimestamp":1619190162,"share":"https://ttm.financial/m/news/1179843002?lang=&edition=fundamental","pubTime":"2021-04-23 23:02","market":"us","language":"en","title":"‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme","url":"https://stock-news.laohu8.com/highlight/detail?id=1179843002","media":"CNBC","summary":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be","content":"<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 23:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SQ":"Block","GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉","PYPL":"PayPal"},"source_url":"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1179843002","content_text":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin,” the former derivatives trader and current hedge fund advisor told CNBC on Friday.\nTaleb had once believed bitcoin was a promising new currency, because it was not controlled by a government. But he has since changed his mind.\n\n“Black Swan” author Nassim Taleb on Friday criticized bitcoin as a “gimmick,” telling CNBC he believes it’s too volatile to be an effective currency and it’s not a safe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin. None. I mean, you can have hyperinflation and bitcoin going to zero. There’s no link between them,” Taleb said in a “Squawk Box” interview.\n“It’s a beautifully set up cryptographic system. It’s well made but there’s absolutely no reason it should be linked to anything economic,” added Taleb, whose bestselling 2007 book examined highly improbable events and their potential to cause severe consequences. He said bitcoin has characteristics of what he calls a Ponzi scheme that’s right out in the open.\nA Ponzi scheme is a type of fraud whereby crooks steal money from investors and mask the theft by funneling returns to clients from funds contributed by newer investors.\nTaleb had once held favorable views toward bitcoin, which was created in 2009 and is the world’s largest cryptocurrency by market value. However, he told CNBC he was “fooled by it initially” because he thought it could develop into a currency used in transactions.\n“Something that moves 5% a day, 20% in a month — up or down — cannot be a currency. It’s something else,” said Taleb, a former derivatives trader who serves as scientific advisor to hedge fund Universa Investments.\n“I bought into it ... not willing to have capital appreciation, so much as wanting to have an alternative to the fiat currency issued by central banks: A currency without a government,” Taleb said. “I realized it was not a currency without a government. It was just pure speculation. It’s just like a game ... I mean, you can create another game and call it a currency.”\nWhile some businesses do accept bitcoin as payment for goods and services, including electric vehicle maker Tesla, there are those in the crypto community who think it’s actually an asset and store of value. Bitcoin, which has its supply capped at 21 million tokens, has been described as “digital gold.”\n“It’s easily transportable and can be sent anywhere in the world if you have a smartphone so it’s a much better version, as a store of value, than gold,” famed value investor Bill Miller told CNBC earlier this week.\n“With bitcoin, volatility is the price you pay for performance,” added Miller, who has also previously contended bitcoin grows less risky as adoption and its price increases.\nIndeed, the price of bitcoin has soared higher in recent months — rising from under $11,000 per unit as recently as October to an all-time high of nearly $65,000 last week. Increased institutional adoption has been cited as one factor in its climb.\nIn keeping with its propensity for wild price swings, bitcoin has tumbled in the days since, ultimately breaking below $50,000 per token earlier Friday, a 23% drop in a little more than a week. However, the price has still risen more than 70% year to date,according to Coindesk.\nBitcoin has received long-term price targets between $400,000 and $600,000 per token from some people in the investment community, including Guggenheim Partners’Scott Minerd; others have projected even higher than that.\nTaleb suggested bitcoin’s price is not what informs his now-critical view, saying “bitcoin could go to $1 million” and it wouldn’t change his argument. “These gimmicks, you have bitcoin today. You may have another one tomorrow. They come and go, and there’s no systematic link between them and the claims they make,” he added.\nInvestors who are worried about inflation would be better off purchasing property than investing in bitcoin, Taleb said. “If you want to hedge against inflation, buy a piece of land. Grow, I don’t know, olives on it. You’ll have olive oil. If the price collapses, you’ll have something.”\n“But bitcoin, there’s no connection and, of course, the best strategy for investors is to own things that produce yields in the future. In other words, you can fall back on real dollars coming out of the company,” he said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":375366301,"gmtCreate":1619309931903,"gmtModify":1704722197060,"author":{"id":"3575067142498671","authorId":"3575067142498671","name":"JWZ137","avatar":"https://static.tigerbbs.com/842968796125e5a418b21a3b4ab603ef","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3575067142498671","authorIdStr":"3575067142498671"},"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/375366301","repostId":1179843002,"repostType":4,"repost":{"id":"1179843002","pubTimestamp":1619190162,"share":"https://ttm.financial/m/news/1179843002?lang=&edition=fundamental","pubTime":"2021-04-23 23:02","market":"us","language":"en","title":"‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme","url":"https://stock-news.laohu8.com/highlight/detail?id=1179843002","media":"CNBC","summary":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be","content":"<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 23:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SQ":"Block","GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉","PYPL":"PayPal"},"source_url":"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1179843002","content_text":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin,” the former derivatives trader and current hedge fund advisor told CNBC on Friday.\nTaleb had once believed bitcoin was a promising new currency, because it was not controlled by a government. But he has since changed his mind.\n\n“Black Swan” author Nassim Taleb on Friday criticized bitcoin as a “gimmick,” telling CNBC he believes it’s too volatile to be an effective currency and it’s not a safe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin. None. I mean, you can have hyperinflation and bitcoin going to zero. There’s no link between them,” Taleb said in a “Squawk Box” interview.\n“It’s a beautifully set up cryptographic system. It’s well made but there’s absolutely no reason it should be linked to anything economic,” added Taleb, whose bestselling 2007 book examined highly improbable events and their potential to cause severe consequences. He said bitcoin has characteristics of what he calls a Ponzi scheme that’s right out in the open.\nA Ponzi scheme is a type of fraud whereby crooks steal money from investors and mask the theft by funneling returns to clients from funds contributed by newer investors.\nTaleb had once held favorable views toward bitcoin, which was created in 2009 and is the world’s largest cryptocurrency by market value. However, he told CNBC he was “fooled by it initially” because he thought it could develop into a currency used in transactions.\n“Something that moves 5% a day, 20% in a month — up or down — cannot be a currency. It’s something else,” said Taleb, a former derivatives trader who serves as scientific advisor to hedge fund Universa Investments.\n“I bought into it ... not willing to have capital appreciation, so much as wanting to have an alternative to the fiat currency issued by central banks: A currency without a government,” Taleb said. “I realized it was not a currency without a government. It was just pure speculation. It’s just like a game ... I mean, you can create another game and call it a currency.”\nWhile some businesses do accept bitcoin as payment for goods and services, including electric vehicle maker Tesla, there are those in the crypto community who think it’s actually an asset and store of value. Bitcoin, which has its supply capped at 21 million tokens, has been described as “digital gold.”\n“It’s easily transportable and can be sent anywhere in the world if you have a smartphone so it’s a much better version, as a store of value, than gold,” famed value investor Bill Miller told CNBC earlier this week.\n“With bitcoin, volatility is the price you pay for performance,” added Miller, who has also previously contended bitcoin grows less risky as adoption and its price increases.\nIndeed, the price of bitcoin has soared higher in recent months — rising from under $11,000 per unit as recently as October to an all-time high of nearly $65,000 last week. Increased institutional adoption has been cited as one factor in its climb.\nIn keeping with its propensity for wild price swings, bitcoin has tumbled in the days since, ultimately breaking below $50,000 per token earlier Friday, a 23% drop in a little more than a week. However, the price has still risen more than 70% year to date,according to Coindesk.\nBitcoin has received long-term price targets between $400,000 and $600,000 per token from some people in the investment community, including Guggenheim Partners’Scott Minerd; others have projected even higher than that.\nTaleb suggested bitcoin’s price is not what informs his now-critical view, saying “bitcoin could go to $1 million” and it wouldn’t change his argument. “These gimmicks, you have bitcoin today. You may have another one tomorrow. They come and go, and there’s no systematic link between them and the claims they make,” he added.\nInvestors who are worried about inflation would be better off purchasing property than investing in bitcoin, Taleb said. “If you want to hedge against inflation, buy a piece of land. Grow, I don’t know, olives on it. You’ll have olive oil. If the price collapses, you’ll have something.”\n“But bitcoin, there’s no connection and, of course, the best strategy for investors is to own things that produce yields in the future. In other words, you can fall back on real dollars coming out of the company,” he said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4125011,"gmtCreate":1619311670665,"gmtModify":1680785456798,"authorId":3561713422683896,"author":{"id":3561713422683896,"idStr":"3561713422683896","authorId":3561713422683896,"name":"MicroStrategist","avatar":"https://community-static.tradeup.com/news/a1f9b1071e75ec59572f7ba9bbb0a4ed","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-3","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Legendary Trader","description":"Total number of securities or futures transactions reached 300","bigImgUrl":"https://static.tigerbbs.com/656db16598a0b8f21429e10d6c1cb033","smallImgUrl":"https://static.tigerbbs.com/03f10910d4dd9234f9b5702a3342193a","grayImgUrl":"https://static.tigerbbs.com/0c767e35268feb729d50d3fa9a386c5a","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"93.07%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":2,"crmLevelSwitch":1,"individualDisplayBadges":[{"badgeId":"9427a906234c4b18a82ec3d7730b7fa8-1","templateUuid":"9427a906234c4b18a82ec3d7730b7fa8","name":"Star Contributor","description":"Have published 3 or more picked posts, and have published at least one picked post and participated in comments within 30 days","bigImgUrl":"https://community-static.tradeup.com/news/1866dcf97a73be1c330f85862546aedc","smallImgUrl":"https://community-static.tradeup.com/news/4f5c5fa8e2c7683bb5a7fce8753ee456","redirectLinkEnabled":1,"redirectLink":"https://ttm.financial/activity/market/2023/star-contributors/","hasAllocated":1,"isWearing":0,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.11.22","individualDisplayEnabled":1,"backgroundColor":{"dark":"#675a37","tint":"#f9ebc2"},"fontColor":{"dark":"#ffffff","tint":"#ab7a0e"},"individualDisplaySort":0,"categoryType":2007}]},"repliedAuthorId":0,"objectId":375366301,"type":1,"supId":0,"prevId":0,"content":"<u>yeah</u>","text":"<u>yeah</u>","html":"<u>yeah</u>"}],"langContent":"EN"},{"id":375388228,"gmtCreate":1619308727364,"gmtModify":1704722182815,"author":{"id":"3575875627318890","authorId":"3575875627318890","name":"TemasekHodl","avatar":"https://static.tigerbbs.com/daf0f0cedc45f1f983d55640fafb8b6d","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3575875627318890","authorIdStr":"3575875627318890"},"htmlText":"Please like and comment&nbsp;","listText":"Please like and comment&nbsp;","text":"Please like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/375388228","repostId":1179843002,"repostType":4,"repost":{"id":"1179843002","pubTimestamp":1619190162,"share":"https://ttm.financial/m/news/1179843002?lang=&edition=fundamental","pubTime":"2021-04-23 23:02","market":"us","language":"en","title":"‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme","url":"https://stock-news.laohu8.com/highlight/detail?id=1179843002","media":"CNBC","summary":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be","content":"<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 23:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SQ":"Block","GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉","PYPL":"PayPal"},"source_url":"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1179843002","content_text":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin,” the former derivatives trader and current hedge fund advisor told CNBC on Friday.\nTaleb had once believed bitcoin was a promising new currency, because it was not controlled by a government. But he has since changed his mind.\n\n“Black Swan” author Nassim Taleb on Friday criticized bitcoin as a “gimmick,” telling CNBC he believes it’s too volatile to be an effective currency and it’s not a safe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin. None. I mean, you can have hyperinflation and bitcoin going to zero. There’s no link between them,” Taleb said in a “Squawk Box” interview.\n“It’s a beautifully set up cryptographic system. It’s well made but there’s absolutely no reason it should be linked to anything economic,” added Taleb, whose bestselling 2007 book examined highly improbable events and their potential to cause severe consequences. He said bitcoin has characteristics of what he calls a Ponzi scheme that’s right out in the open.\nA Ponzi scheme is a type of fraud whereby crooks steal money from investors and mask the theft by funneling returns to clients from funds contributed by newer investors.\nTaleb had once held favorable views toward bitcoin, which was created in 2009 and is the world’s largest cryptocurrency by market value. However, he told CNBC he was “fooled by it initially” because he thought it could develop into a currency used in transactions.\n“Something that moves 5% a day, 20% in a month — up or down — cannot be a currency. It’s something else,” said Taleb, a former derivatives trader who serves as scientific advisor to hedge fund Universa Investments.\n“I bought into it ... not willing to have capital appreciation, so much as wanting to have an alternative to the fiat currency issued by central banks: A currency without a government,” Taleb said. “I realized it was not a currency without a government. It was just pure speculation. It’s just like a game ... I mean, you can create another game and call it a currency.”\nWhile some businesses do accept bitcoin as payment for goods and services, including electric vehicle maker Tesla, there are those in the crypto community who think it’s actually an asset and store of value. Bitcoin, which has its supply capped at 21 million tokens, has been described as “digital gold.”\n“It’s easily transportable and can be sent anywhere in the world if you have a smartphone so it’s a much better version, as a store of value, than gold,” famed value investor Bill Miller told CNBC earlier this week.\n“With bitcoin, volatility is the price you pay for performance,” added Miller, who has also previously contended bitcoin grows less risky as adoption and its price increases.\nIndeed, the price of bitcoin has soared higher in recent months — rising from under $11,000 per unit as recently as October to an all-time high of nearly $65,000 last week. Increased institutional adoption has been cited as one factor in its climb.\nIn keeping with its propensity for wild price swings, bitcoin has tumbled in the days since, ultimately breaking below $50,000 per token earlier Friday, a 23% drop in a little more than a week. However, the price has still risen more than 70% year to date,according to Coindesk.\nBitcoin has received long-term price targets between $400,000 and $600,000 per token from some people in the investment community, including Guggenheim Partners’Scott Minerd; others have projected even higher than that.\nTaleb suggested bitcoin’s price is not what informs his now-critical view, saying “bitcoin could go to $1 million” and it wouldn’t change his argument. “These gimmicks, you have bitcoin today. You may have another one tomorrow. They come and go, and there’s no systematic link between them and the claims they make,” he added.\nInvestors who are worried about inflation would be better off purchasing property than investing in bitcoin, Taleb said. “If you want to hedge against inflation, buy a piece of land. Grow, I don’t know, olives on it. You’ll have olive oil. If the price collapses, you’ll have something.”\n“But bitcoin, there’s no connection and, of course, the best strategy for investors is to own things that produce yields in the future. In other words, you can fall back on real dollars coming out of the company,” he said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4125490,"gmtCreate":1619314039011,"gmtModify":1680785458495,"authorId":3577340349158062,"author":{"id":3577340349158062,"idStr":"3577340349158062","authorId":3577340349158062,"name":"T2183coins","avatar":"https://community-static.tradeup.com/news/0d4358324c974c4c08fdc4be56560d4a","vip":1,"crmLevel":9,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":375388228,"type":1,"supId":0,"prevId":0,"content":"Pls like &amp; comment","text":"Pls like &amp; comment","html":"Pls like &amp; comment"},{"id":4124833,"gmtCreate":1619310821556,"gmtModify":1680785456306,"authorId":3560400655314166,"author":{"id":3560400655314166,"idStr":"3560400655314166","authorId":3560400655314166,"name":"TL1M","avatar":"https://static.tigerbbs.com/ac25b2b0f6be3ec28a06c38fb7c8ed9e","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":375388228,"type":1,"supId":0,"prevId":0,"content":"Done","text":"Done","html":"Done"}],"langContent":"EN"},{"id":375383169,"gmtCreate":1619308375451,"gmtModify":1704722179734,"author":{"id":"3581927793488898","authorId":"3581927793488898","name":"amazinggrace","avatar":"https://static.tigerbbs.com/101230c6fb2ec15140a58f9488ad7396","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3581927793488898","authorIdStr":"3581927793488898"},"htmlText":"I used to like Bitcoin too. But in principle it’s really a worthless asset. And too volatile, fees too high, not scalable so will never support a bulk of the world’s tranasactions. And it’s polluting and just wasting computing power","listText":"I used to like Bitcoin too. But in principle it’s really a worthless asset. And too volatile, fees too high, not scalable so will never support a bulk of the world’s tranasactions. And it’s polluting and just wasting computing power","text":"I used to like Bitcoin too. But in principle it’s really a worthless asset. And too volatile, fees too high, not scalable so will never support a bulk of the world’s tranasactions. And it’s polluting and just wasting computing power","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/375383169","repostId":1179843002,"repostType":4,"repost":{"id":"1179843002","pubTimestamp":1619190162,"share":"https://ttm.financial/m/news/1179843002?lang=&edition=fundamental","pubTime":"2021-04-23 23:02","market":"us","language":"en","title":"‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme","url":"https://stock-news.laohu8.com/highlight/detail?id=1179843002","media":"CNBC","summary":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be","content":"<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 23:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SQ":"Block","GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉","PYPL":"PayPal"},"source_url":"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1179843002","content_text":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin,” the former derivatives trader and current hedge fund advisor told CNBC on Friday.\nTaleb had once believed bitcoin was a promising new currency, because it was not controlled by a government. But he has since changed his mind.\n\n“Black Swan” author Nassim Taleb on Friday criticized bitcoin as a “gimmick,” telling CNBC he believes it’s too volatile to be an effective currency and it’s not a safe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin. None. I mean, you can have hyperinflation and bitcoin going to zero. There’s no link between them,” Taleb said in a “Squawk Box” interview.\n“It’s a beautifully set up cryptographic system. It’s well made but there’s absolutely no reason it should be linked to anything economic,” added Taleb, whose bestselling 2007 book examined highly improbable events and their potential to cause severe consequences. He said bitcoin has characteristics of what he calls a Ponzi scheme that’s right out in the open.\nA Ponzi scheme is a type of fraud whereby crooks steal money from investors and mask the theft by funneling returns to clients from funds contributed by newer investors.\nTaleb had once held favorable views toward bitcoin, which was created in 2009 and is the world’s largest cryptocurrency by market value. However, he told CNBC he was “fooled by it initially” because he thought it could develop into a currency used in transactions.\n“Something that moves 5% a day, 20% in a month — up or down — cannot be a currency. It’s something else,” said Taleb, a former derivatives trader who serves as scientific advisor to hedge fund Universa Investments.\n“I bought into it ... not willing to have capital appreciation, so much as wanting to have an alternative to the fiat currency issued by central banks: A currency without a government,” Taleb said. “I realized it was not a currency without a government. It was just pure speculation. It’s just like a game ... I mean, you can create another game and call it a currency.”\nWhile some businesses do accept bitcoin as payment for goods and services, including electric vehicle maker Tesla, there are those in the crypto community who think it’s actually an asset and store of value. Bitcoin, which has its supply capped at 21 million tokens, has been described as “digital gold.”\n“It’s easily transportable and can be sent anywhere in the world if you have a smartphone so it’s a much better version, as a store of value, than gold,” famed value investor Bill Miller told CNBC earlier this week.\n“With bitcoin, volatility is the price you pay for performance,” added Miller, who has also previously contended bitcoin grows less risky as adoption and its price increases.\nIndeed, the price of bitcoin has soared higher in recent months — rising from under $11,000 per unit as recently as October to an all-time high of nearly $65,000 last week. Increased institutional adoption has been cited as one factor in its climb.\nIn keeping with its propensity for wild price swings, bitcoin has tumbled in the days since, ultimately breaking below $50,000 per token earlier Friday, a 23% drop in a little more than a week. However, the price has still risen more than 70% year to date,according to Coindesk.\nBitcoin has received long-term price targets between $400,000 and $600,000 per token from some people in the investment community, including Guggenheim Partners’Scott Minerd; others have projected even higher than that.\nTaleb suggested bitcoin’s price is not what informs his now-critical view, saying “bitcoin could go to $1 million” and it wouldn’t change his argument. “These gimmicks, you have bitcoin today. You may have another one tomorrow. They come and go, and there’s no systematic link between them and the claims they make,” he added.\nInvestors who are worried about inflation would be better off purchasing property than investing in bitcoin, Taleb said. “If you want to hedge against inflation, buy a piece of land. Grow, I don’t know, olives on it. You’ll have olive oil. If the price collapses, you’ll have something.”\n“But bitcoin, there’s no connection and, of course, the best strategy for investors is to own things that produce yields in the future. In other words, you can fall back on real dollars coming out of the company,” he said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":375383362,"gmtCreate":1619308371156,"gmtModify":1704722179573,"author":{"id":"3576990193651421","authorId":"3576990193651421","name":"KFChen","avatar":"https://static.tigerbbs.com/6830fa3fe8a82d29953fbb2e6153801e","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3576990193651421","authorIdStr":"3576990193651421"},"htmlText":"Roller coster&nbsp;","listText":"Roller coster&nbsp;","text":"Roller coster","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/375383362","repostId":1179843002,"repostType":4,"repost":{"id":"1179843002","pubTimestamp":1619190162,"share":"https://ttm.financial/m/news/1179843002?lang=&edition=fundamental","pubTime":"2021-04-23 23:02","market":"us","language":"en","title":"‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme","url":"https://stock-news.laohu8.com/highlight/detail?id=1179843002","media":"CNBC","summary":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be","content":"<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 23:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SQ":"Block","GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉","PYPL":"PayPal"},"source_url":"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1179843002","content_text":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin,” the former derivatives trader and current hedge fund advisor told CNBC on Friday.\nTaleb had once believed bitcoin was a promising new currency, because it was not controlled by a government. But he has since changed his mind.\n\n“Black Swan” author Nassim Taleb on Friday criticized bitcoin as a “gimmick,” telling CNBC he believes it’s too volatile to be an effective currency and it’s not a safe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin. None. I mean, you can have hyperinflation and bitcoin going to zero. There’s no link between them,” Taleb said in a “Squawk Box” interview.\n“It’s a beautifully set up cryptographic system. It’s well made but there’s absolutely no reason it should be linked to anything economic,” added Taleb, whose bestselling 2007 book examined highly improbable events and their potential to cause severe consequences. He said bitcoin has characteristics of what he calls a Ponzi scheme that’s right out in the open.\nA Ponzi scheme is a type of fraud whereby crooks steal money from investors and mask the theft by funneling returns to clients from funds contributed by newer investors.\nTaleb had once held favorable views toward bitcoin, which was created in 2009 and is the world’s largest cryptocurrency by market value. However, he told CNBC he was “fooled by it initially” because he thought it could develop into a currency used in transactions.\n“Something that moves 5% a day, 20% in a month — up or down — cannot be a currency. It’s something else,” said Taleb, a former derivatives trader who serves as scientific advisor to hedge fund Universa Investments.\n“I bought into it ... not willing to have capital appreciation, so much as wanting to have an alternative to the fiat currency issued by central banks: A currency without a government,” Taleb said. “I realized it was not a currency without a government. It was just pure speculation. It’s just like a game ... I mean, you can create another game and call it a currency.”\nWhile some businesses do accept bitcoin as payment for goods and services, including electric vehicle maker Tesla, there are those in the crypto community who think it’s actually an asset and store of value. Bitcoin, which has its supply capped at 21 million tokens, has been described as “digital gold.”\n“It’s easily transportable and can be sent anywhere in the world if you have a smartphone so it’s a much better version, as a store of value, than gold,” famed value investor Bill Miller told CNBC earlier this week.\n“With bitcoin, volatility is the price you pay for performance,” added Miller, who has also previously contended bitcoin grows less risky as adoption and its price increases.\nIndeed, the price of bitcoin has soared higher in recent months — rising from under $11,000 per unit as recently as October to an all-time high of nearly $65,000 last week. Increased institutional adoption has been cited as one factor in its climb.\nIn keeping with its propensity for wild price swings, bitcoin has tumbled in the days since, ultimately breaking below $50,000 per token earlier Friday, a 23% drop in a little more than a week. However, the price has still risen more than 70% year to date,according to Coindesk.\nBitcoin has received long-term price targets between $400,000 and $600,000 per token from some people in the investment community, including Guggenheim Partners’Scott Minerd; others have projected even higher than that.\nTaleb suggested bitcoin’s price is not what informs his now-critical view, saying “bitcoin could go to $1 million” and it wouldn’t change his argument. “These gimmicks, you have bitcoin today. You may have another one tomorrow. They come and go, and there’s no systematic link between them and the claims they make,” he added.\nInvestors who are worried about inflation would be better off purchasing property than investing in bitcoin, Taleb said. “If you want to hedge against inflation, buy a piece of land. Grow, I don’t know, olives on it. You’ll have olive oil. If the price collapses, you’ll have something.”\n“But bitcoin, there’s no connection and, of course, the best strategy for investors is to own things that produce yields in the future. In other words, you can fall back on real dollars coming out of the company,” he said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":375318801,"gmtCreate":1619307525903,"gmtModify":1704722169535,"author":{"id":"3570577365102413","authorId":"3570577365102413","name":"AxThePro","avatar":"https://static.tigerbbs.com/34f34509388e5b73a59321b8fe9c49fc","vip":1,"crmLevel":6,"crmLevelSwitch":1,"idStr":"3570577365102413","authorIdStr":"3570577365102413"},"htmlText":"Any thoughts?&nbsp;","listText":"Any thoughts?&nbsp;","text":"Any thoughts?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/375318801","repostId":1179843002,"repostType":4,"repost":{"id":"1179843002","pubTimestamp":1619190162,"share":"https://ttm.financial/m/news/1179843002?lang=&edition=fundamental","pubTime":"2021-04-23 23:02","market":"us","language":"en","title":"‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme","url":"https://stock-news.laohu8.com/highlight/detail?id=1179843002","media":"CNBC","summary":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be","content":"<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 23:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SQ":"Block","GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉","PYPL":"PayPal"},"source_url":"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1179843002","content_text":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin,” the former derivatives trader and current hedge fund advisor told CNBC on Friday.\nTaleb had once believed bitcoin was a promising new currency, because it was not controlled by a government. But he has since changed his mind.\n\n“Black Swan” author Nassim Taleb on Friday criticized bitcoin as a “gimmick,” telling CNBC he believes it’s too volatile to be an effective currency and it’s not a safe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin. None. I mean, you can have hyperinflation and bitcoin going to zero. There’s no link between them,” Taleb said in a “Squawk Box” interview.\n“It’s a beautifully set up cryptographic system. It’s well made but there’s absolutely no reason it should be linked to anything economic,” added Taleb, whose bestselling 2007 book examined highly improbable events and their potential to cause severe consequences. He said bitcoin has characteristics of what he calls a Ponzi scheme that’s right out in the open.\nA Ponzi scheme is a type of fraud whereby crooks steal money from investors and mask the theft by funneling returns to clients from funds contributed by newer investors.\nTaleb had once held favorable views toward bitcoin, which was created in 2009 and is the world’s largest cryptocurrency by market value. However, he told CNBC he was “fooled by it initially” because he thought it could develop into a currency used in transactions.\n“Something that moves 5% a day, 20% in a month — up or down — cannot be a currency. It’s something else,” said Taleb, a former derivatives trader who serves as scientific advisor to hedge fund Universa Investments.\n“I bought into it ... not willing to have capital appreciation, so much as wanting to have an alternative to the fiat currency issued by central banks: A currency without a government,” Taleb said. “I realized it was not a currency without a government. It was just pure speculation. It’s just like a game ... I mean, you can create another game and call it a currency.”\nWhile some businesses do accept bitcoin as payment for goods and services, including electric vehicle maker Tesla, there are those in the crypto community who think it’s actually an asset and store of value. Bitcoin, which has its supply capped at 21 million tokens, has been described as “digital gold.”\n“It’s easily transportable and can be sent anywhere in the world if you have a smartphone so it’s a much better version, as a store of value, than gold,” famed value investor Bill Miller told CNBC earlier this week.\n“With bitcoin, volatility is the price you pay for performance,” added Miller, who has also previously contended bitcoin grows less risky as adoption and its price increases.\nIndeed, the price of bitcoin has soared higher in recent months — rising from under $11,000 per unit as recently as October to an all-time high of nearly $65,000 last week. Increased institutional adoption has been cited as one factor in its climb.\nIn keeping with its propensity for wild price swings, bitcoin has tumbled in the days since, ultimately breaking below $50,000 per token earlier Friday, a 23% drop in a little more than a week. However, the price has still risen more than 70% year to date,according to Coindesk.\nBitcoin has received long-term price targets between $400,000 and $600,000 per token from some people in the investment community, including Guggenheim Partners’Scott Minerd; others have projected even higher than that.\nTaleb suggested bitcoin’s price is not what informs his now-critical view, saying “bitcoin could go to $1 million” and it wouldn’t change his argument. “These gimmicks, you have bitcoin today. You may have another one tomorrow. They come and go, and there’s no systematic link between them and the claims they make,” he added.\nInvestors who are worried about inflation would be better off purchasing property than investing in bitcoin, Taleb said. “If you want to hedge against inflation, buy a piece of land. Grow, I don’t know, olives on it. You’ll have olive oil. If the price collapses, you’ll have something.”\n“But bitcoin, there’s no connection and, of course, the best strategy for investors is to own things that produce yields in the future. In other words, you can fall back on real dollars coming out of the company,” he said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":375310176,"gmtCreate":1619307201095,"gmtModify":1704722162729,"author":{"id":"3573943942927358","authorId":"3573943942927358","name":"Ola5528","avatar":"https://static.tigerbbs.com/80f475dff1b8107d8a24e19220f0038d","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3573943942927358","authorIdStr":"3573943942927358"},"htmlText":"People who don’t understand crypto will keep calling it a scam and continue to miss out on this opportunity. DYOR - this is a once in a lifetime investment opportunity with moonshot gains. Still early days!&nbsp;","listText":"People who don’t understand crypto will keep calling it a scam and continue to miss out on this opportunity. DYOR - this is a once in a lifetime investment opportunity with moonshot gains. Still early days!&nbsp;","text":"People who don’t understand crypto will keep calling it a scam and continue to miss out on this opportunity. DYOR - this is a once in a lifetime investment opportunity with moonshot gains. Still early days!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/375310176","repostId":1179843002,"repostType":4,"repost":{"id":"1179843002","pubTimestamp":1619190162,"share":"https://ttm.financial/m/news/1179843002?lang=&edition=fundamental","pubTime":"2021-04-23 23:02","market":"us","language":"en","title":"‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme","url":"https://stock-news.laohu8.com/highlight/detail?id=1179843002","media":"CNBC","summary":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be","content":"<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 23:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SQ":"Block","GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉","PYPL":"PayPal"},"source_url":"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1179843002","content_text":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin,” the former derivatives trader and current hedge fund advisor told CNBC on Friday.\nTaleb had once believed bitcoin was a promising new currency, because it was not controlled by a government. But he has since changed his mind.\n\n“Black Swan” author Nassim Taleb on Friday criticized bitcoin as a “gimmick,” telling CNBC he believes it’s too volatile to be an effective currency and it’s not a safe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin. None. I mean, you can have hyperinflation and bitcoin going to zero. There’s no link between them,” Taleb said in a “Squawk Box” interview.\n“It’s a beautifully set up cryptographic system. It’s well made but there’s absolutely no reason it should be linked to anything economic,” added Taleb, whose bestselling 2007 book examined highly improbable events and their potential to cause severe consequences. He said bitcoin has characteristics of what he calls a Ponzi scheme that’s right out in the open.\nA Ponzi scheme is a type of fraud whereby crooks steal money from investors and mask the theft by funneling returns to clients from funds contributed by newer investors.\nTaleb had once held favorable views toward bitcoin, which was created in 2009 and is the world’s largest cryptocurrency by market value. However, he told CNBC he was “fooled by it initially” because he thought it could develop into a currency used in transactions.\n“Something that moves 5% a day, 20% in a month — up or down — cannot be a currency. It’s something else,” said Taleb, a former derivatives trader who serves as scientific advisor to hedge fund Universa Investments.\n“I bought into it ... not willing to have capital appreciation, so much as wanting to have an alternative to the fiat currency issued by central banks: A currency without a government,” Taleb said. “I realized it was not a currency without a government. It was just pure speculation. It’s just like a game ... I mean, you can create another game and call it a currency.”\nWhile some businesses do accept bitcoin as payment for goods and services, including electric vehicle maker Tesla, there are those in the crypto community who think it’s actually an asset and store of value. Bitcoin, which has its supply capped at 21 million tokens, has been described as “digital gold.”\n“It’s easily transportable and can be sent anywhere in the world if you have a smartphone so it’s a much better version, as a store of value, than gold,” famed value investor Bill Miller told CNBC earlier this week.\n“With bitcoin, volatility is the price you pay for performance,” added Miller, who has also previously contended bitcoin grows less risky as adoption and its price increases.\nIndeed, the price of bitcoin has soared higher in recent months — rising from under $11,000 per unit as recently as October to an all-time high of nearly $65,000 last week. Increased institutional adoption has been cited as one factor in its climb.\nIn keeping with its propensity for wild price swings, bitcoin has tumbled in the days since, ultimately breaking below $50,000 per token earlier Friday, a 23% drop in a little more than a week. However, the price has still risen more than 70% year to date,according to Coindesk.\nBitcoin has received long-term price targets between $400,000 and $600,000 per token from some people in the investment community, including Guggenheim Partners’Scott Minerd; others have projected even higher than that.\nTaleb suggested bitcoin’s price is not what informs his now-critical view, saying “bitcoin could go to $1 million” and it wouldn’t change his argument. “These gimmicks, you have bitcoin today. You may have another one tomorrow. They come and go, and there’s no systematic link between them and the claims they make,” he added.\nInvestors who are worried about inflation would be better off purchasing property than investing in bitcoin, Taleb said. “If you want to hedge against inflation, buy a piece of land. Grow, I don’t know, olives on it. You’ll have olive oil. If the price collapses, you’ll have something.”\n“But bitcoin, there’s no connection and, of course, the best strategy for investors is to own things that produce yields in the future. In other words, you can fall back on real dollars coming out of the company,” he said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":375332159,"gmtCreate":1619306812071,"gmtModify":1704722157403,"author":{"id":"3576934932610535","authorId":"3576934932610535","name":"Dittosg","avatar":"https://static.tigerbbs.com/1b2cff59f82218916755d7d3ff0253b2","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3576934932610535","authorIdStr":"3576934932610535"},"htmlText":"Isit a fud","listText":"Isit a fud","text":"Isit a fud","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/375332159","repostId":1179843002,"repostType":4,"repost":{"id":"1179843002","pubTimestamp":1619190162,"share":"https://ttm.financial/m/news/1179843002?lang=&edition=fundamental","pubTime":"2021-04-23 23:02","market":"us","language":"en","title":"‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme","url":"https://stock-news.laohu8.com/highlight/detail?id=1179843002","media":"CNBC","summary":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be","content":"<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 23:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SQ":"Block","GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉","PYPL":"PayPal"},"source_url":"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1179843002","content_text":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin,” the former derivatives trader and current hedge fund advisor told CNBC on Friday.\nTaleb had once believed bitcoin was a promising new currency, because it was not controlled by a government. But he has since changed his mind.\n\n“Black Swan” author Nassim Taleb on Friday criticized bitcoin as a “gimmick,” telling CNBC he believes it’s too volatile to be an effective currency and it’s not a safe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin. None. I mean, you can have hyperinflation and bitcoin going to zero. There’s no link between them,” Taleb said in a “Squawk Box” interview.\n“It’s a beautifully set up cryptographic system. It’s well made but there’s absolutely no reason it should be linked to anything economic,” added Taleb, whose bestselling 2007 book examined highly improbable events and their potential to cause severe consequences. He said bitcoin has characteristics of what he calls a Ponzi scheme that’s right out in the open.\nA Ponzi scheme is a type of fraud whereby crooks steal money from investors and mask the theft by funneling returns to clients from funds contributed by newer investors.\nTaleb had once held favorable views toward bitcoin, which was created in 2009 and is the world’s largest cryptocurrency by market value. However, he told CNBC he was “fooled by it initially” because he thought it could develop into a currency used in transactions.\n“Something that moves 5% a day, 20% in a month — up or down — cannot be a currency. It’s something else,” said Taleb, a former derivatives trader who serves as scientific advisor to hedge fund Universa Investments.\n“I bought into it ... not willing to have capital appreciation, so much as wanting to have an alternative to the fiat currency issued by central banks: A currency without a government,” Taleb said. “I realized it was not a currency without a government. It was just pure speculation. It’s just like a game ... I mean, you can create another game and call it a currency.”\nWhile some businesses do accept bitcoin as payment for goods and services, including electric vehicle maker Tesla, there are those in the crypto community who think it’s actually an asset and store of value. Bitcoin, which has its supply capped at 21 million tokens, has been described as “digital gold.”\n“It’s easily transportable and can be sent anywhere in the world if you have a smartphone so it’s a much better version, as a store of value, than gold,” famed value investor Bill Miller told CNBC earlier this week.\n“With bitcoin, volatility is the price you pay for performance,” added Miller, who has also previously contended bitcoin grows less risky as adoption and its price increases.\nIndeed, the price of bitcoin has soared higher in recent months — rising from under $11,000 per unit as recently as October to an all-time high of nearly $65,000 last week. Increased institutional adoption has been cited as one factor in its climb.\nIn keeping with its propensity for wild price swings, bitcoin has tumbled in the days since, ultimately breaking below $50,000 per token earlier Friday, a 23% drop in a little more than a week. However, the price has still risen more than 70% year to date,according to Coindesk.\nBitcoin has received long-term price targets between $400,000 and $600,000 per token from some people in the investment community, including Guggenheim Partners’Scott Minerd; others have projected even higher than that.\nTaleb suggested bitcoin’s price is not what informs his now-critical view, saying “bitcoin could go to $1 million” and it wouldn’t change his argument. “These gimmicks, you have bitcoin today. You may have another one tomorrow. They come and go, and there’s no systematic link between them and the claims they make,” he added.\nInvestors who are worried about inflation would be better off purchasing property than investing in bitcoin, Taleb said. “If you want to hedge against inflation, buy a piece of land. Grow, I don’t know, olives on it. You’ll have olive oil. If the price collapses, you’ll have something.”\n“But bitcoin, there’s no connection and, of course, the best strategy for investors is to own things that produce yields in the future. In other words, you can fall back on real dollars coming out of the company,” he said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4124335,"gmtCreate":1619307534720,"gmtModify":1680785447553,"authorId":3570577365102413,"author":{"id":3570577365102413,"idStr":"3570577365102413","authorId":3570577365102413,"name":"AxThePro","avatar":"https://static.tigerbbs.com/34f34509388e5b73a59321b8fe9c49fc","vip":1,"crmLevel":6,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":375332159,"type":1,"supId":0,"prevId":0,"content":"YEs. ","text":"YEs. ","html":"YEs. "}],"langContent":"EN"},{"id":375395652,"gmtCreate":1619305509576,"gmtModify":1704722149312,"author":{"id":"3581919183376534","authorId":"3581919183376534","name":"Huatkor","avatar":"https://static.tigerbbs.com/6f3897aace055b5fa9f58089c1e880d8","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3581919183376534","authorIdStr":"3581919183376534"},"htmlText":"Very wise and insightful thoughts from the ggreat man. A currency whose price pattern is more volatile than a stock cannot qualify as a currency.&nbsp;","listText":"Very wise and insightful thoughts from the ggreat man. A currency whose price pattern is more volatile than a stock cannot qualify as a currency.&nbsp;","text":"Very wise and insightful thoughts from the ggreat man. A currency whose price pattern is more volatile than a stock cannot qualify as a currency.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/375395652","repostId":1179843002,"repostType":4,"repost":{"id":"1179843002","pubTimestamp":1619190162,"share":"https://ttm.financial/m/news/1179843002?lang=&edition=fundamental","pubTime":"2021-04-23 23:02","market":"us","language":"en","title":"‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme","url":"https://stock-news.laohu8.com/highlight/detail?id=1179843002","media":"CNBC","summary":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be","content":"<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 23:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SQ":"Block","GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉","PYPL":"PayPal"},"source_url":"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1179843002","content_text":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin,” the former derivatives trader and current hedge fund advisor told CNBC on Friday.\nTaleb had once believed bitcoin was a promising new currency, because it was not controlled by a government. But he has since changed his mind.\n\n“Black Swan” author Nassim Taleb on Friday criticized bitcoin as a “gimmick,” telling CNBC he believes it’s too volatile to be an effective currency and it’s not a safe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin. None. I mean, you can have hyperinflation and bitcoin going to zero. There’s no link between them,” Taleb said in a “Squawk Box” interview.\n“It’s a beautifully set up cryptographic system. It’s well made but there’s absolutely no reason it should be linked to anything economic,” added Taleb, whose bestselling 2007 book examined highly improbable events and their potential to cause severe consequences. He said bitcoin has characteristics of what he calls a Ponzi scheme that’s right out in the open.\nA Ponzi scheme is a type of fraud whereby crooks steal money from investors and mask the theft by funneling returns to clients from funds contributed by newer investors.\nTaleb had once held favorable views toward bitcoin, which was created in 2009 and is the world’s largest cryptocurrency by market value. However, he told CNBC he was “fooled by it initially” because he thought it could develop into a currency used in transactions.\n“Something that moves 5% a day, 20% in a month — up or down — cannot be a currency. It’s something else,” said Taleb, a former derivatives trader who serves as scientific advisor to hedge fund Universa Investments.\n“I bought into it ... not willing to have capital appreciation, so much as wanting to have an alternative to the fiat currency issued by central banks: A currency without a government,” Taleb said. “I realized it was not a currency without a government. It was just pure speculation. It’s just like a game ... I mean, you can create another game and call it a currency.”\nWhile some businesses do accept bitcoin as payment for goods and services, including electric vehicle maker Tesla, there are those in the crypto community who think it’s actually an asset and store of value. Bitcoin, which has its supply capped at 21 million tokens, has been described as “digital gold.”\n“It’s easily transportable and can be sent anywhere in the world if you have a smartphone so it’s a much better version, as a store of value, than gold,” famed value investor Bill Miller told CNBC earlier this week.\n“With bitcoin, volatility is the price you pay for performance,” added Miller, who has also previously contended bitcoin grows less risky as adoption and its price increases.\nIndeed, the price of bitcoin has soared higher in recent months — rising from under $11,000 per unit as recently as October to an all-time high of nearly $65,000 last week. Increased institutional adoption has been cited as one factor in its climb.\nIn keeping with its propensity for wild price swings, bitcoin has tumbled in the days since, ultimately breaking below $50,000 per token earlier Friday, a 23% drop in a little more than a week. However, the price has still risen more than 70% year to date,according to Coindesk.\nBitcoin has received long-term price targets between $400,000 and $600,000 per token from some people in the investment community, including Guggenheim Partners’Scott Minerd; others have projected even higher than that.\nTaleb suggested bitcoin’s price is not what informs his now-critical view, saying “bitcoin could go to $1 million” and it wouldn’t change his argument. “These gimmicks, you have bitcoin today. You may have another one tomorrow. They come and go, and there’s no systematic link between them and the claims they make,” he added.\nInvestors who are worried about inflation would be better off purchasing property than investing in bitcoin, Taleb said. “If you want to hedge against inflation, buy a piece of land. Grow, I don’t know, olives on it. You’ll have olive oil. If the price collapses, you’ll have something.”\n“But bitcoin, there’s no connection and, of course, the best strategy for investors is to own things that produce yields in the future. In other words, you can fall back on real dollars coming out of the company,” he said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":375390278,"gmtCreate":1619304352594,"gmtModify":1704722137828,"author":{"id":"3566293775093626","authorId":"3566293775093626","name":"Patek1975","avatar":"https://static.tigerbbs.com/a2e5f9a5d563704aaf5f2473be16f148","vip":1,"hat":"https://static.tigerbbs.com/7b75ce0c34afff716602792a5d0929dd","crmLevel":2,"crmLevelSwitch":1,"idStr":"3566293775093626","authorIdStr":"3566293775093626"},"htmlText":"Agree like tokens&nbsp;","listText":"Agree like tokens&nbsp;","text":"Agree like tokens","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/375390278","repostId":1179843002,"repostType":4,"repost":{"id":"1179843002","pubTimestamp":1619190162,"share":"https://ttm.financial/m/news/1179843002?lang=&edition=fundamental","pubTime":"2021-04-23 23:02","market":"us","language":"en","title":"‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme","url":"https://stock-news.laohu8.com/highlight/detail?id=1179843002","media":"CNBC","summary":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be","content":"<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 23:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SQ":"Block","GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉","PYPL":"PayPal"},"source_url":"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1179843002","content_text":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin,” the former derivatives trader and current hedge fund advisor told CNBC on Friday.\nTaleb had once believed bitcoin was a promising new currency, because it was not controlled by a government. But he has since changed his mind.\n\n“Black Swan” author Nassim Taleb on Friday criticized bitcoin as a “gimmick,” telling CNBC he believes it’s too volatile to be an effective currency and it’s not a safe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin. None. I mean, you can have hyperinflation and bitcoin going to zero. There’s no link between them,” Taleb said in a “Squawk Box” interview.\n“It’s a beautifully set up cryptographic system. It’s well made but there’s absolutely no reason it should be linked to anything economic,” added Taleb, whose bestselling 2007 book examined highly improbable events and their potential to cause severe consequences. He said bitcoin has characteristics of what he calls a Ponzi scheme that’s right out in the open.\nA Ponzi scheme is a type of fraud whereby crooks steal money from investors and mask the theft by funneling returns to clients from funds contributed by newer investors.\nTaleb had once held favorable views toward bitcoin, which was created in 2009 and is the world’s largest cryptocurrency by market value. However, he told CNBC he was “fooled by it initially” because he thought it could develop into a currency used in transactions.\n“Something that moves 5% a day, 20% in a month — up or down — cannot be a currency. It’s something else,” said Taleb, a former derivatives trader who serves as scientific advisor to hedge fund Universa Investments.\n“I bought into it ... not willing to have capital appreciation, so much as wanting to have an alternative to the fiat currency issued by central banks: A currency without a government,” Taleb said. “I realized it was not a currency without a government. It was just pure speculation. It’s just like a game ... I mean, you can create another game and call it a currency.”\nWhile some businesses do accept bitcoin as payment for goods and services, including electric vehicle maker Tesla, there are those in the crypto community who think it’s actually an asset and store of value. Bitcoin, which has its supply capped at 21 million tokens, has been described as “digital gold.”\n“It’s easily transportable and can be sent anywhere in the world if you have a smartphone so it’s a much better version, as a store of value, than gold,” famed value investor Bill Miller told CNBC earlier this week.\n“With bitcoin, volatility is the price you pay for performance,” added Miller, who has also previously contended bitcoin grows less risky as adoption and its price increases.\nIndeed, the price of bitcoin has soared higher in recent months — rising from under $11,000 per unit as recently as October to an all-time high of nearly $65,000 last week. Increased institutional adoption has been cited as one factor in its climb.\nIn keeping with its propensity for wild price swings, bitcoin has tumbled in the days since, ultimately breaking below $50,000 per token earlier Friday, a 23% drop in a little more than a week. However, the price has still risen more than 70% year to date,according to Coindesk.\nBitcoin has received long-term price targets between $400,000 and $600,000 per token from some people in the investment community, including Guggenheim Partners’Scott Minerd; others have projected even higher than that.\nTaleb suggested bitcoin’s price is not what informs his now-critical view, saying “bitcoin could go to $1 million” and it wouldn’t change his argument. “These gimmicks, you have bitcoin today. You may have another one tomorrow. They come and go, and there’s no systematic link between them and the claims they make,” he added.\nInvestors who are worried about inflation would be better off purchasing property than investing in bitcoin, Taleb said. “If you want to hedge against inflation, buy a piece of land. Grow, I don’t know, olives on it. You’ll have olive oil. If the price collapses, you’ll have something.”\n“But bitcoin, there’s no connection and, of course, the best strategy for investors is to own things that produce yields in the future. In other words, you can fall back on real dollars coming out of the company,” he said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4125692,"gmtCreate":1619314962109,"gmtModify":1680785469333,"authorId":3566293775093626,"author":{"id":3566293775093626,"idStr":"3566293775093626","authorId":3566293775093626,"name":"Patek1975","avatar":"https://static.tigerbbs.com/a2e5f9a5d563704aaf5f2473be16f148","vip":1,"currentWearingBadge":{"badgeId":"1026c425416b44e0aac28c11a0848493-2","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Senior Tiger","description":"Join the tiger community for 1000 days","bigImgUrl":"https://static.tigerbbs.com/0063fb68ea29c9ae6858c58630e182d5","smallImgUrl":"https://static.tigerbbs.com/96c699a93be4214d4b49aea6a5a5d1a4","grayImgUrl":"https://static.tigerbbs.com/35b0e542a9ff77046ed69ef602bc105d","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.07.18","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1001},"crmLevel":2,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":375390278,"type":1,"supId":0,"prevId":0,"content":"It is like tokens ","text":"It is like tokens ","html":"It is like tokens "}],"langContent":"EN"},{"id":375304763,"gmtCreate":1619304170852,"gmtModify":1704722135231,"author":{"id":"3581722422886451","authorId":"3581722422886451","name":"STT1987","avatar":"https://static.tigerbbs.com/b448574f3a0cea8e66038e5d43d5707e","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3581722422886451","authorIdStr":"3581722422886451"},"htmlText":"Go go go","listText":"Go go go","text":"Go go go","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/375304763","repostId":1179843002,"repostType":4,"repost":{"id":"1179843002","pubTimestamp":1619190162,"share":"https://ttm.financial/m/news/1179843002?lang=&edition=fundamental","pubTime":"2021-04-23 23:02","market":"us","language":"en","title":"‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme","url":"https://stock-news.laohu8.com/highlight/detail?id=1179843002","media":"CNBC","summary":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be","content":"<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n‘Black Swan’ author calls bitcoin a ‘gimmick’ and a ‘game,’ says it resembles a Ponzi scheme\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 23:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SQ":"Block","GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉","PYPL":"PayPal"},"source_url":"https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1179843002","content_text":"KEY POINTS\n\n“Black Swan” author Nassim Taleb ripped bitcoin as a “gimmick” that’s too volatile to be a currency and an unsafe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin,” the former derivatives trader and current hedge fund advisor told CNBC on Friday.\nTaleb had once believed bitcoin was a promising new currency, because it was not controlled by a government. But he has since changed his mind.\n\n“Black Swan” author Nassim Taleb on Friday criticized bitcoin as a “gimmick,” telling CNBC he believes it’s too volatile to be an effective currency and it’s not a safe hedge against inflation.\n“Basically, there’s no connection between inflation and bitcoin. None. I mean, you can have hyperinflation and bitcoin going to zero. There’s no link between them,” Taleb said in a “Squawk Box” interview.\n“It’s a beautifully set up cryptographic system. It’s well made but there’s absolutely no reason it should be linked to anything economic,” added Taleb, whose bestselling 2007 book examined highly improbable events and their potential to cause severe consequences. He said bitcoin has characteristics of what he calls a Ponzi scheme that’s right out in the open.\nA Ponzi scheme is a type of fraud whereby crooks steal money from investors and mask the theft by funneling returns to clients from funds contributed by newer investors.\nTaleb had once held favorable views toward bitcoin, which was created in 2009 and is the world’s largest cryptocurrency by market value. However, he told CNBC he was “fooled by it initially” because he thought it could develop into a currency used in transactions.\n“Something that moves 5% a day, 20% in a month — up or down — cannot be a currency. It’s something else,” said Taleb, a former derivatives trader who serves as scientific advisor to hedge fund Universa Investments.\n“I bought into it ... not willing to have capital appreciation, so much as wanting to have an alternative to the fiat currency issued by central banks: A currency without a government,” Taleb said. “I realized it was not a currency without a government. It was just pure speculation. It’s just like a game ... I mean, you can create another game and call it a currency.”\nWhile some businesses do accept bitcoin as payment for goods and services, including electric vehicle maker Tesla, there are those in the crypto community who think it’s actually an asset and store of value. Bitcoin, which has its supply capped at 21 million tokens, has been described as “digital gold.”\n“It’s easily transportable and can be sent anywhere in the world if you have a smartphone so it’s a much better version, as a store of value, than gold,” famed value investor Bill Miller told CNBC earlier this week.\n“With bitcoin, volatility is the price you pay for performance,” added Miller, who has also previously contended bitcoin grows less risky as adoption and its price increases.\nIndeed, the price of bitcoin has soared higher in recent months — rising from under $11,000 per unit as recently as October to an all-time high of nearly $65,000 last week. Increased institutional adoption has been cited as one factor in its climb.\nIn keeping with its propensity for wild price swings, bitcoin has tumbled in the days since, ultimately breaking below $50,000 per token earlier Friday, a 23% drop in a little more than a week. However, the price has still risen more than 70% year to date,according to Coindesk.\nBitcoin has received long-term price targets between $400,000 and $600,000 per token from some people in the investment community, including Guggenheim Partners’Scott Minerd; others have projected even higher than that.\nTaleb suggested bitcoin’s price is not what informs his now-critical view, saying “bitcoin could go to $1 million” and it wouldn’t change his argument. “These gimmicks, you have bitcoin today. You may have another one tomorrow. They come and go, and there’s no systematic link between them and the claims they make,” he added.\nInvestors who are worried about inflation would be better off purchasing property than investing in bitcoin, Taleb said. “If you want to hedge against inflation, buy a piece of land. Grow, I don’t know, olives on it. You’ll have olive oil. If the price collapses, you’ll have something.”\n“But bitcoin, there’s no connection and, of course, the best strategy for investors is to own things that produce yields in the future. In other words, you can fall back on real dollars coming out of the company,” he said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4124475,"gmtCreate":1619308701705,"gmtModify":1680785444535,"authorId":3581501226736554,"author":{"id":3581501226736554,"idStr":"3581501226736554","authorId":3581501226736554,"name":"taykaiz","avatar":"https://static.tigerbbs.com/98fe0d50331ab2a61b83d50adb45fd5c","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":375304763,"type":1,"supId":0,"prevId":0,"content":"HODL","text":"HODL","html":"HODL"},{"id":4124338,"gmtCreate":1619307541989,"gmtModify":1680785442660,"authorId":3570577365102413,"author":{"id":3570577365102413,"idStr":"3570577365102413","authorId":3570577365102413,"name":"AxThePro","avatar":"https://static.tigerbbs.com/34f34509388e5b73a59321b8fe9c49fc","vip":1,"crmLevel":6,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":375304763,"type":1,"supId":0,"prevId":0,"content":"To the moon. 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