This is an opinion editorial by Bernardo Filipe, a life-long thinker, philosopher and author of “The Straight Science.”
“Earnings-free assets with no residual value are problematic.
The implication is that, owing to the absence of any explicit yield benefitting the holder of bitcoin, if we expect that at any point in the future the value will be zero when miners are extinct, the technology becomes obsolete, or future generations get into other such ‘assets’ and bitcoin loses its appeal for them, then the value must be zero now.” — Nassim Taleb
If bitcoin’s general adoption succeeds, it will be automating most of our financial structure with the aid of power plants, energy and computers. At the very least, it will create a system that is parallel to the current banking one and that would therefore be protected from the latter’s crashes (see 2007-2008 financial crisis). Of course it is taking years for this new system to fully mature. Taleb says this mission is worth exactly zero because he lacks the vision.
Is it a good time to invest in bitcoin? I believe it is. Besides proper philosophers, who are thinking in terms of centuries, not many can build such a belief, with the exception of the best wealth managers, who think in terms of decades.
So philosophers, who historically never cared about wealth, and wealth managers, who naturally enough only care about wealth, are uniting here in an interesting turn of events. Philosophers see that the inevitable fate of…
