Nassim Taleb: Bitcoin failed as a currency and became a speculative ponzi scheme

Re:Nassim Taleb: Bitcoin failed as a currency and became a s... by nly on Saturday April 17, 2021 @10:56AM (#26844663)

Something is valuable if you'd be more than happy to own it even if you, or your heirs, could never sell or exchange it.

Currencies aren't inherently valuable, but a measure of value and a medium of exchange. If you couldn't buy things, or settle your debts (taxes), with US dollars tomorrow they'd be worthless.

Something that is valuable, and is either subjectively or objectively going to become more valuable, is an investment.

You can make a case for almost anything being an investment, since value can be subjective and speculation is rife

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Re:Nassim Taleb: Bitcoin failed as a currency and became a s... by Retric on Saturday April 17, 2021 @01:02PM (#26845734)

Utility covers a lot of stuff, a painting you enjoy looking at or water that you drink etc. As you point out USD has built in utility and thus demand because the IRS doesn’t accept potatoes.

The issue is crypto currency is a digital asset so you need a buyer to do anything with it. That buyer could be a 3rd party uninvolved in the transaction, but someone needs to hold it after the sale even if it’s just to look for the next buyer.

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