“The Black Swan” author Nassim Nicholas Taleb believes that the time to short Shiba Inu (CRYPTO: SHIB) and other cryptocurrencies is “perhaps” near.
What Happened: Taleb, a former options trader, risk analyst and author, took to Twitter to share an observation that the time to short cryptocurrencies. The essayist based his observation on a photo of an Uber driver who was trading in cryptocurrencies, including Shiba Inu and Bitcoin, while driving.
You know it is perhaps close to the time to short when the Uber driver is trading cryptos, checking his portfolio live while driving.
[The picture was taken minutes ago by a friend]. pic.twitter.com/yfDlBPVpPA
— Nassim Nicholas Taleb (@nntaleb) October 27, 2021
Taleb’s tweet had 2,112 likes and was retweeted 279 times, as at press time. The famed essayist said in response to another tweet that cryptocurrencies and bank accounts cannot be put in the same category, as bank accounts are intended for currencies while cryptocurrencies are vehicles for price appreciation.
3) Further, bank account are for “currencies”= current, betw transactions, not stores of value beyond liquidity buffers.
Cryptos are vehicles for price appreciation, not same category.
And no, the blockchain is not DECENTRALIZED, a mistake I made.https://t.co/S5QCtlp3pa— Nassim Nicholas Taleb (@nntaleb) October 28, 2021
See Also: How To Buy Shiba Inu Coin (SHIB)
Why It Matters: Taleb, who once believed Bitcoin was a promising new currency as it was without government control, has lately taken to bashing the apex cryptocurrency.
In a paper published on his website in June, Talab explained why he believes Bitcoin is worth “exactly 0.”
He noted that like other cryptocurrencies, Bitcoin requires a “sustained amount of interest” to continue to exist, unlike gold and other precious metals that are largely maintenance-free.
Taleb’s comments came on the same day that Shiba Inu, the self-described Dogecoin (CRYPTO: DOGE) killer, surpassed the meme cryptocurrency in market value, based on CoinMarketCap data.
Price Action: Shiba Inu is up 43.9% during the last 24 hours, trading at $0.00007604 at press time. Bitcoin is down 3.6% over the past 24 hours to $59,067.42.
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