Taleb and Roubini to Speak at Coingeek Conference

Bitcoin sceptics Nouriel Roubini and Nassim Nicholas Taleb join speakers’ roster at CoinGeek Zurich

Discussion topics will include but not limited to:

What currently drives market value of BTC vs what should drive real value of a digital asset

Does the market correctly consider the real utility of a blockchain or its native token(s)

How should actual utility influence the market price of a blockchain’s token

How should scalability of a blockchain influence the market’s valuation

Nassim Nicholas Taleb: “I had hoped bitcoin would be a currency that could be transacted with but BTC has turned out to be too volatile and thus a speculative tool, so I look forward to sharing my thoughts and discussing further on this roundtable panel.”

Nouriel Roubini: “I think calling cryptocurrencies a currency is a misnomer. The question is if Bitcoin is an asset and if cryptocurrencies can have real utility? I am happy to discuss this further look forward to discussing this at CoinGeek Conference.”

I am surprised to see Taleb using the trading symbol, BTC, instead of Bitcoin. Taleb had said in February that he was selling his BTC because of the volatility, and he has called it an open Ponzi. He also recently had a spat with BTC holders over whether it was following the Bitcoin white paper or not.

Bitcoiner Max Keiser Debates with Nassim Taleb Regarding Bitcoin White Paper

The crux of the debate between BTC and other chains such as the Bitcoin fork BSV, is about what the digital money should do. BTC limits the number of transactions via the size of its blocks and thereby moved towards a "digital gold" model where the coin has a very high value. BSV moved in the opposite direction towards unlimited blocksize. BTC is the digital equivalent of gold because it is very slow and expensive to transact. BSV is akin more to high-frequency trading, aside from potentially saving businesses and consumers billions in fees collected by payment networks such as Mastercard and Visa, it also allows for future applications in data markets and new economies.

I discussed why I believe BSV's model is the future in: Using Bitcoin for Censorship Resistant Communication

My most recent post on Bitcoin, more BTC price focused is here: BTC Waterfall Decline Approaches

As I expected would happen with a BTC sell-off, BSV went down with it. It bounced off long-term support, but I believe that will break when BTC heads towards $20,000 and potentially lower prices.

I see long-term support around $50 if BTC goes into a major bear market. I will be keeping an eye on the BSVBTC ratio if that happens. For now, BSV has not broken down relative to BTC. Volume is collapsing in the crypto market though...

If this ratio is rising in a bear market, I will be aggressively buying. If it dips along with BTC, I will probably wait longer because it will indicate the whole market is getting blown out. I expect 90 to 99 percent of the crypto market will disappear in major bear market. The survivors will eventually generate returns that will mirror the gains in BTC and Ethereum over the past decade. The corrollary is the doctom bubble versus the survivors such as Amazon and startups such as Google, Facebook and Netflix.

Finally, BTC looks like it could be ready to collapse as soon as this week given the drop in volume: