Bibliolater 📚 📜 🖋 (@bibliolater@qoto.org)
qoto.org
:bitcoin: **Bitcoin, Currencies, and Fragility** _“In its current version, in spite of the hype, bitcoin failed to satisfy the notion of “currency without government” (it proved to not even be a currency at all), can be neither a short nor long term store of value (its expected value is no higher than), cannot operate as a reliable inflation hedge, and, worst of all, does not constitute, not even remotely, a safe haven for one's investments, a shield against government tyranny, or a tail protection vehicle for catastrophic episodes.”_ Taleb, N.N. (2021) 'Bitcoin, currencies, and fragility,' arXiv (Cornell University) [Preprint]. https://doi.org/10.48550/arxiv.2106.14204. #Bitcoin #Currency #Money #Wealth #Economics #Finance #Academia #Academic #Preprint #arXiv @economics@a.gup.pe

In its current version, in spite of the hype, bitcoin failed to satisfy the notion of “currency without government” (it proved to not even be a currency at all), can be neither a short nor long term store of value (its expected value is no higher than), cannot operate as a reliable inflation hedge, and, worst of all, does not constitute, not even remotely, a safe haven for one’s investments, a shield against government tyranny, or a tail protection vehicle for catastrophic episodes.