Philosopher and author of the cult work “Black Swan” Nassim Taleb said that the sector DeFi contrived to reinvent the bucket shops and advised young traders to learn from the older generation.
Bucket shops refer to companies that in the early 20th century allowed ordinary Americans to gamble on stocks or commodities without owning them. The practice was ultimately declared illegal.
“Bucket shops were only about 90 years old! Now DeFi manages to reinvent them. Young people raised on Twitter should sit with surviving traders, sip on aged brandy, be silent and learn, ”Taleb wrote.
Thus, he commented on a Bloomberg article in which the publication spoke about synthetic versions of Tesla, Apple, Amazon and other public companies, as well as several popular ETF.
Projects like the Mirror Protocol and Synthetix tokenize securities. These blockchain-issued tokens are engineered to reflect the prices of the assets being tracked without any actual purchases or actual sales.
Some experts fear that these tools allow traders to circumvent certain rules and laws of the stock market. For example, they provide an opportunity for anonymous trading, which goes against the requirements. keywhich are a must for traditional broker-dealers.
In April 2021, Bitcoin exchange Binance announced the listing of tokenized shares. In the same month BaFin warned investors about the platform’s possible violation of the securities law. The regulator referred to the lack of required brochures.
Similar claims were made to Binance FCA, according to the Financial Times.
Taleb has repeatedly criticized Bitcoin and the blockchain industry. In May 2021, he named digital gold “the Ponzi mega-circuit.”
In June, the philosopher published an article in which he stated that the first cryptocurrency is not money or store of value and is not suitable for hedging inflation.
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