9621 Agnes Crossing, Lake Suzanneview, New Mexico Island 84604-9295.
Nassim Taleb, author and philosopher of the cult “Black Swan”, said that regulatory uncertainty in the cryptocurrency market has laid the groundwork for civil lawsuits. Bitcoin will be
Nassim Taleb, author and philosopher of the cult “Black Swan”, said that regulatory uncertainty in the cryptocurrency market has laid the groundwork for civil lawsuits.
Bitcoin will be a goldmine for lawyers.
When regulations are unclear, there is a lot of room for civil lawsuits, as with the junk bond debacle (in addition to criminal cases, for example Milken).
If you bought crypto based on an OPEN recommendation, make sure you have screenshots.— Nassim Nicholas Taleb (@nntaleb) 15 June 2022
“Bitcoin will be a goldmine for lawyers. When regulation is blurred, there are many opportunities for civil litigation (in addition to criminal ones like Milken) when junk bonds collapse. If you bought a cryptocurrency based on a clear recommendation, make sure you have a screenshot,” Taleb wrote.
He also stated that he views bitcoin as an “intelligence test”. According to him, the meaning of blockchain technology is to exclude third parties from the chain of financial interactions such as custody services. However, the philosopher explained that big crypto holders like MicroStrategy use their deposit accounts.
Bitcoin is an intelligence test.
The logic of bitcoin/blockchain that makes conspiratorial yet stupid and naive people attractive is to escape the custodian/trust system.
Yet [MicroTravesty] $MSTR He claims to have “at least $410 million worth of Bitcoin in a custodian account.”— Nassim Nicholas Taleb (@nntaleb) 15 June 2022
In the comments to the publication, they noted that Michael Saylor’s company only keeps 15% of its assets in a deposit account. Taleb said MicroStrategy used collateral held by the custodian to fund its operations.
You didn’t understand the real issue. They borrowed using collateral and collateral… in a custodian.
— Nassim Nicholas Taleb (@nntaleb) 15 June 2022
Recall that in February 2022, Taleb said that Bitcoin will not save investors from inflation and falling markets.
Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
