Glad to see DHH slightly pulling his head out of his ass: https://world.hey.com/dhh/i-was-wrong-we-need-crypto-587ccb03
Exhibit 2 in the context of some(!) trucker funds being in custodial wallets and/or hard to liquidate.
What he's not noticing: the other funds, the option to just HODL through it (assuming the situation in Canada isn't permanent, the fact that a supply of Bitcoin that can't be sold on a KYC exchange will eventually meet demand.
First Taleb writes a paper demonstrating that Bitcoin is extremely volatile and that this volatility has not gone down over the years.
Then he calls a little bear market "Imploding" (without demonstrating that this somehow exceeds the volatility we've seen before).
Perhaps he's referring more to the fact that Bitcoin is not very uncorrelated to other assets, as some hoped for. But past results don't guarantee future performance. And again: Bitcoin hasn't been killed yet.
And then he retweets this asinine thread, in which an AWS engineer claims that "Computationally cheap cryptographic currencies with privacy are actually a solved problem."
He then points to Chaumian E-cash (which did not solve the double-spend problem for fucks sake) and digs even deeper by referring to zero knowledge systems, without pointing out that every current efficient design is either a trusted setup or too experimental cryptography for money.
A lot of people have been saying "bitcoin is a risk-on asset, not an inflation hedge".
I think on the long term it totally is, but as a fixed emission asset, it is subject to volatility and temporary bubbles and that's throwing everyone off.
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