Acclaimed author Nassim Nicholas Taleb recently said Bitcoin is worth zero. That’s clearly not the case as the original cryptocurrency is trading around $33,000, as of this writing.
The larger debate is whether governments will continue to allow digital currencies, and we use that word loosely, to flourish and compete with traditional central bank-led monetary systems?
Or, as is increasingly the case, will they develop their own so-called stablecoins, and clamp down on cryptocurrencies to maintain the financial systems that have existed for hundreds of years.
The type of centralized structure which allowed for a global rescue of economies during the pandemic.
Here’s a well-reasoned argument that a digital, decentralized system would have been incapable of stepping in during the depths of the downturn and would have resulted in chaos.
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