Taleb's argument is indisputable. When bitcoin failed as a payment system and became an income-free speculative asset then its terminal value is contingent on expectation of infinite greater fools and thus its present value cannot be anything but zero.https://arxiv.org/abs/2106.14204
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Taleb's analysis (completely sensibly) assumes the continuing existence of things *like* asset classes, governments, cash flows, money, but all of these are en route to oblivion in the eyes of true believers. It's an apocalyptic vision, not an accounting mistake.
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Am I the only one that finds sinister the assumption that once the renomination occurs, nothing ever changes? No new coin, no innovation, just a static solution.
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