Bitcoin News

The famous author and former fan of Bitcoin now says that Bitcoin is Panzi!

In a recent interview, Nasim Talib, the author of the famous book “Strong Black”, called Bitcoin a panzi scheme. Meanwhile, Nasim Talib himself was a fan of Bitcoin and in 2018, he expressed his support for it.

to the the report In a recent interview with CNBC, Nasrim Talib, a well-known author known to many as the powerful Black Book, said that Bitcoin has many of the characteristics of Panzi plans.

He also pointed to the link between bitcoin and inflation, saying that bitcoin has no role in protecting capital against inflation. Many Bitcoin advocates see the digital currency as a safeguard to protect their capital from inflation created by government policies. Nasim Talib, however, while rejecting this claim, said in this regard:

If you are looking for a way to escape inflation, buy a piece of land and plant, for example, olives. In this case, even if the price (land) decreases, you have at least olive oil; But in the case of Bitcoin, there is no connection between this digital currency and inflation. Bitcoin has the characteristics of Panzi designs and everyone knows that Bitcoin is a Panzi design. It is true that the design of Bitcoin is interesting and unique; But there is no reason to consider it an economic phenomenon.

According to the Decrypt website, Talib’s views on the relationship between bitcoin and inflation may not be wrong. There is no reason to believe that in the event of inflation, the price of bitcoin will remain stable or its value will be maintained. The data show that with the increase in the bitcoin market volume, its price has also become dependent on traditional markets.

For example, when the Quaid-19 pandemic started when the stock market plummeted, the price of Bitcoin also fell. Bitcoin is also a volatile asset, and its price is falling as it rises.

On the other hand, the inflation we are waiting for may never happen. Many Bitcoin proponents predict terrible hyperinflation because of the costs that governments have incurred during the Corona epidemic, and especially the support packages that Joe Biden’s government distributed during this period; But this prediction is not necessarily correct. Many analysts even find the current data on inflation misleading. According to them, the excessive increase of the consumer price index has caused the inflation rate to be reported more than it really is. They believe that consumer prices were very low in March last year, and that the sudden rise has affected statistics.

Talib stated in his interview:

Tricks like this come and go every day. Today is bitcoin and tomorrow may be something else. These projects make claims for which there is no logical reason for their veracity.

It should be noted that Talib’s position on bitcoin was not always so pessimistic. In 2018, he published an article in which he called Bitcoin a way to get rid of monopolies. “Bitcoin is a policy that reminds governments that money is no longer monopolized,” he wrote.

But earlier this year, he tweeted that Bitcoin had failed, saying he intended to sell his bitcoins.


Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button