Black Swan author Taleb: ‘Use Cryptocurrencies’

Former options trader Nassim Nicholas Taleb wrote a book once in 2007. It was called “The Black Swan” and it explained how world markets can be turned upside down by events that no one has ever experienced before.

He became a global star during the credit crisis a year later, when he was asked to discuss the demise of firms like Lehman Brothers and Bear Stearns.

The author, seeing that banks in the middle east are refusing to pay out in foreign currencies, stated on his Twitter account that people should simply ‘Use Cryptocurrencies.

This is not the first time the original Black Swan has come out in support of cryptocurrencies. During a conference in India last year, he reportedly stated: “I am very glad that we have cryptocurrencies.”

“Of course, you are going to have frauds and Ponzi schemes and all that with Bitcoin and cryptos. But when you see governments—like in Lebanon—doing the Ponzis you tell yourself what is better.”

For those of you that haven’t read this fabulous book just yet: The Black Swan: The Impact of the Highly Improbable is a 2007 book by author and former options trader Nassim Nicholas Taleb. The book focuses on the extreme impact of rare and unpredictable outlier events — and the human tendency to find simplistic explanations for these events, retrospectively. Taleb calls this the Black Swan theory.


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