Co-founder of Tezos crypto calls Bitcoin "pretend internet money"

I actually like when a technologically WAY more advanced crypto maker criticizes the original, obsolete one.

Not gonna change the perception though... But in the science world, this is how it should work.
 
Pekelo said:
I actually like when a technologically WAY more advanced crypto maker criticizes the original, obsolete one.

Not gonna change the perception though... But in the science world, this is how it should work.
More...

Technologically speaking Bitcoin is basically a bad joke.

But it doesn't matter because 99% of the people have very low understanding of how things operate on a technical level.

Everyone is being sold on an idea. And the marketing works, because the price is going up.

And price is going up largely due to Tether printing unbacked fake dollars and propping up the market.

It's just a traditional ponzi scheme, but in 2 steps.
 
orbit23 said:
It's just a traditional ponzi scheme, but in 2 steps.
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Nassim Taleb, author of the book The Black Swan takes it one step further and calls it an "open ponzi scheme." "Open" as in everyone knows it is a ponzi scheme, but there is still money for you to make, as long as you aren't the last one in.
 
Coin Flip said:
Nassim Taleb, author of the book The Black Swan takes it one step further and calls it an "open ponzi scheme." "Open" as in everyone knows it is a ponzi scheme, but there is still money for you to make, as long as you aren't the last one in.
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The state of the world we are in, huh....

Crime is legal and endorsed under the Biden administration.
 
orbit23 said:
Technologically speaking Bitcoin is basically a bad joke.

But it doesn't matter because 99% of the people have very low understanding of how things operate on a technical level.

Everyone is being sold on an idea. And the marketing works, because the price is going up.

And price is going up largely due to Tether printing unbacked fake dollars and propping up the market.

It's just a traditional ponzi scheme, but in 2 steps.
More...
Aha.

Could you please educate me, what other crypto coin is treated as a commodity,

because of its huge decentralization and proof of work mechanism???!

Let's face it as it is:
Not even "next gen" / 3rd gen chains like cardano or ripple are nearly as attractive as Bitcoin,
simply because of their proof of stake mechanism:
They will NEVER be treated or seen as commodity, and therefore will be digital art (which means hackable, or at least not 100% as safe as they have 0 analog infrastructure).

BTC is 'safe' (in it's technology) because it does not rely on virtual servers!

It relys on real servers and real (analog) procedures.

Main point.


And yes, for the art (nfts) you can use eth or sol or whatever,
as it is the unimportant stuff.


The important stuff is on BTC.


Coin Flip said:
Nassim Taleb, author of the book The Black Swan takes it one step further and calls it an "open ponzi scheme." "Open" as in everyone knows it is a ponzi scheme, but there is still money for you to make, as long as you aren't the last one in.
More...


A highly scarce ponzi scheme, even more than gold, look at that...



I'd invest all my money into BTC, rather than gold, if I had to (+ wait for 5 years).
 
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Nassim Taleb, author of the book The Black Swan takes it one step further and calls it an "open ponzi scheme."
More...

Yes, we already know Taleb wrote The Black Swan. This isn't NewbTrader.com

But did you know my first-edition version of The Bitcoin Standard has Taleb writing the foreword to it?
 
The_Krakenite said:
But did you know my first-edition version of The Bitcoin Standard has Taleb writing the foreword to it?
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I did not know, but I am not surprised. Taleb on CNBC said he actually owned Bitcoin originally because he thought it would be a currency substitute to fiat.
 
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