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Yes definitely. If you replace "Bitcoin" in this essay with "blockchain based assets", Taleb would have a fairly good point. But "Bitcoin" has been manipulated

Yes definitely. If you replace "Bitcoin" in this essay with "blockchain based assets", Taleb would have a fairly good point. But "Bitcoin" has been manipulated so much that I think most people recognize that a crash is inevitable. There is nothing special about Bitcoin-anyone can start their own blockchain. Bitcoin is just an overpriced version of the infinite possible blockchains.

soneca 9y ago
But he indeed is mostly talking about the idea/concept behind Bitcoin (that could be translated as "blockchain based assets") rather than necessarily Bitcoin itself. He doesn't discard Bitcoin as not having these qualities, but he also doesn't state that only Bitcoin is capable of it.
jebeng 9y ago
I think you have it backwards here for the most part. What problems do you see infinite blockchains solving? No comment on whether or not a crash is inevitable, who knows where the price is going. That's not really too important to me. But the fact that Bitcoin is for now the most secure and technologically sound blockchain is what makes it interesting. And actually having those unique characteristics is what makes it special. I definitely don't see much special with 'blockchain the data structure' on its own.
- matthewbauer 9y ago
  Yes there’s definitely value in Bitcoins hash power and underlying technology. But the code is open source and easy to copy. There’s a team behind it that is definitely worth something for Bitcoin but they could certainly work on any blockchain (especially if it’s a Bitcoin fork). I think forks are definitely the biggest concern for Bitcoin. I think most longterm holders arent realizing how big of a threat it is. Bitcoin Cash is still around and can probably stay around for a long time reusing Cores work. Other forks will be less friendly and won’t preserve Bitcoins transaction history.

soneca 9y ago

But he indeed is mostly talking about the idea/concept behind Bitcoin (that could be translated as "blockchain based assets") rather than necessarily Bitcoin itself. He doesn't discard Bitcoin as not having these qualities, but he also doesn't state that only Bitcoin is capable of it.

jebeng 9y ago

I think you have it backwards here for the most part. What problems do you see infinite blockchains solving? No comment on whether or not a crash is inevitable, who knows where the price is going. That's not really too important to me. But the fact that Bitcoin is for now the most secure and technologically sound blockchain is what makes it interesting. And actually having those unique characteristics is what makes it special. I definitely don't see much special with 'blockchain the data structure' on its own.

matthewbauer 9y ago
Yes there’s definitely value in Bitcoins hash power and underlying technology. But the code is open source and easy to copy. There’s a team behind it that is definitely worth something for Bitcoin but they could certainly work on any blockchain (especially if it’s a Bitcoin fork). I think forks are definitely the biggest concern for Bitcoin. I think most longterm holders arent realizing how big of a threat it is. Bitcoin Cash is still around and can probably stay around for a long time reusing Cores work. Other forks will be less friendly and won’t preserve Bitcoins transaction history.