Is it better to invest in Bitcoins or gold? Mark Cuban and Euro Pacific Capital CEO Peter Schiff have differing opinions on what to do with their money.
Nassim Nicholas Taleb has a lot of thoughts as well. In an interview with the French weekly L'Express, the author of The Black Swan commented on the debate surrounding the financial crisis.
Since the start of the year, it has fallen more than 60 percent.
We are not sure of the interests, mentalities and preferences of future generations, which is one of the problems with the use of the digital currency. Gold stays at least physically because of technology. It would collapse once neglected for a short time.
He said that an entry on a register that requires active maintenance by interested and motivated people cannot be expected to retain its physical properties.
He pointed to the low interest rates of the past 15 years as the origin of theraze for Cryptocurrencies.
He said that lowering rates creates asset bubbles. Risk-free returns on investment become too low, even negative, pushing people into speculation. We don't have a good idea of what a long-term investment is. Real finance is over.
He said that one of the results was malignant tumors.
The effects of loose monetary policies from the Fed and other central banks created the "everything bubble" The easy money era was filled with bulls who thought the good times would never end.
Early on, he was in favor of the digital currency. He told L'Express that he was critical of the Fed chair.
After the 2008 crisis, he said, he overreacted because he didn't see the structural risks of the system before. I was wrong to think that Bitcoins would be a bulwark against this monetary policy.
The coin universe attracts scam artists.
He's not the only one there.
"We have to kind of come to terms as an industry with the fact that, I think our industry is attracting a disproportionate share of fraudsters and scam artists." That is really sad. It isn't representative of the whole industry.
It was odd that FTX founder Sam Bankman- Fried wasn't already in custody when he was.
He said that he had been trolled and smeared for his criticism, but that there were many thank you messages for saving young people from Bitcoins.
He shared a message in which a user said he was close to buying Bitcoins, but then began following the thoughts of Nassim Nicholas Taleb. It failed in practice. My father's hard earned money was saved by N NT.
There are manyBitcoin bulls who are still bullish. According to the CEO of Ark Invest, there will be $1 million by 2030. She said Bankman-Fried didn't like transparency and decentralization because he couldn't control it.
Cuban said on Bill Maher's Club Random that he would like to buy more of the digital currency.
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