Nassim Taleb, a famous crypto enthusiast in the past, has expressed concerns about crypto volatility leading to his exit from the crypto community.
Taleb is the author of the popular book ‘Black Swan‘ and a popular defender of cryptocurrency in the past until Friday, 12-Feb-2020. He also wrote a short piece called ‘Bitcoin’ in 2018. The former crypto enthusiast described the asset as “an excellent idea.”
The author’s exit from the crypto community is not only surprising but a shock and a subtle blow on the crypto community, considering his past contributions to the crypto space.
Taleb’s excuse to quit crypto community
In a Bizzare post on Friday, the author tweeted that a currency should not be more volatile than what you buy & sell with it. He expressed regrets it is impossible to buy and sell in Bitcoin.
He also said he would be getting rid of all his BTC saying it is a failure.
“I’ve been getting rid of my BTC. Why? A currency is never supposed to be more volatile than what you buy & sell with it. You can’t price goods in BTC, he said.
In that respect, it’s a failure (at least for now). It was taken over by Covid denying sociopaths w/the sophistication of amoebas, Taleb tweeted.
Taleb further pressed his exit from the crypto community after he was asked for more clarity on Bitcoin as a hedge investment. The author answered harshly. He said, ‘Failed.’
Nassim Taleb’s giant stride for crypto in the past
Taleb’s exit is more of a shock to the community, considering how he has defended crypto in the past. The author was a crypto advocate. Last year, in response to a post about restrictions on foreign currencies in his native Lebanon, Taleb tweeted, “Use Cryptocurrencies!”
He’s also levied some angry tweets at Coinbase and said he planned to close his account.
In 2018, Taleb wrote a short piece called “Bitcoin,” in which he called the asset “an excellent idea.”
Taleb, a stakeholder in the crypto community
Towards getting a clearer picture of how influential Taleb was in the crypto space, at a point he threatened to quit using Coinbase, other exchanges wooed him over.
In June 2020, the author closed his Coinbase account, complaining that it failed to respond to undisclosed issues he was having with the service.
Coinbase is one exchange notorious for crashing and having technical issues, frequently especially during bull runs when traders need to be in control of their funds.
When the exchange responded to Taleb and apologized for the delay, he said it was too late.
“Too late. Closing account,” he replied, before adding, “even their account closing page is messed up.”
While this happened, Kraken CEO Jesse Powell invited Taleb to check out his platform, promising personal assistance in case of problems.
Source: Crypto community loses Bitcoin enthusiast, Nassim Taleb