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> A currency must earn interest Taleb at it again. He's decided on his definition of a currency and, lo and behold, Bitcoin doesn't make the cut, much to the c
by monkeydreams 5y ago
> A currency must earn interest
Taleb at it again. He's decided on his definition of a currency and, lo and behold, Bitcoin doesn't make the cut, much to the chagrin of the coin bros who will flock to its defense.
Normal currency is zero-sum from certain contexts. If I have a dollar and I give it to you then you won and I lost. The only reason that fiat currency earns interest is that the promise of payment tomorrow is almost as easily tradeable as the product itself which, given BC's volatility, is difficult.
Bitcoin is a currency in that it is a medium of transaction, no matter what Nicholas Taleb has to say about it. It is not failed at being a currency but it has failed at being a stable currency so far.