“a currency is never supposed to be more volatile than what you buy & sell with it” — Nassim Nicholas Taleb

For what it is worth, here are a few other things that are "never supposed to be":

1) Purely fiat money with no peg to a scarce resource.

2) Interest rates below the rate a reasonable person would charge to lend a scarce resource.*

3) A monetary system that must constantly expand in order to survive.

4) A monetary system that automatically rewards the rich for just already being rich, while at the same time punishes the poor for just being poor.

5) Anyone foolish enough to give up any bitcoin in their long-term savings that they traded for less than USD52,000.

*I currently earn 6% interest on my bitcoin so even if the value of my bitcoin were to drop 80% to the price I paid for it I would still be earning 1.2% interest which is significantly more than I would earn in a dollar-based savings account. Bitcoin has removed the problem of the volatility of the value of the dollar relative to the interest rate one can earn on a dollar! Taleb has completely lost sight of bitcoin’s speculative store-of-value proposition within the collapse of the current monetary regime. Bitcoin is a wonderful way to protect the income of seniors. It is an inflation hedge, a superior yield generator, and an opportunity to grow richer — all at the same time. When else in history has an asset allowed the little guy such an opportunity to front-run the big guys?

SGI Buddhist, Loves Irish and Latin American Literature, History buff, knows a great deal about Medicare

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