Home Business News The author of 'Black Swan' calls Bitcoin a Ponzi scheme by CoinQuora

The author of ‘Black Swan’ calls Bitcoin a Ponzi scheme by CoinQuora

© Reuters. The author of ‘Black Swan’ calls Bitcoin a Ponzi scheme

  • Nassim Taleb duplicated bitcoin as a failed Ponzi scheme and currency.
  • Some analysts see bitcoin as a hedge against inflation.
  • Taleb said there is no link between inflation and bitcoin.

Black Swan author Nassim Taleb reaffirmed his stance that bitcoin is a Ponzi scheme and a failed currency, according to a CNBC interview on Friday.

Taleb told Squawk Box:

“There is no link between inflation and bitcoin. I mean, you can have hyperinflation and bitcoin becomes zero. There is no relationship between them ”.

Taleb added that he was fooled into thinking it could be a viable alternative to fiat currency. But he surmised that a currency without a government backing is “just speculation” and a “game”. To clarify, he said that Bitcoin has failed to serve as a supposed replacement for government-backed money, mainly due to its volatility.

However, some analysts consider Bitcoin, commonly referred to as digital gold, as a …

This article was first published on coinquora.com

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