Waiting for "skin in the game"
May 12, 2022
Black Swan yesterday:
Given its volatility BTC drop is no "black swan event". Stop abusing the concept.
— Nassim Nicholas Taleb (@nntaleb) May 11, 2022
[And someone telling you there is no risk of bankruptcy is actually telling you there is a high risk of bankruptcy.]https://t.co/d2RFN62Gg9
Anti-fragile today:
This is the boss of @coinbase.
— Nassim Nicholas Taleb (@nntaleb) May 12, 2022
Mr Armstrong, please do not invoke *my* concept of Anti-fragile when you are maximally fragile, while exposing yourself to a yuuge left tail risk.
I am fed up with pple mis-citing my work. https://t.co/3d9kEaqbEp
The Coinbase stock price has crashed by roughly 85% in just over half a year. Definitely, not anti-fragile.
Bitcoin is down over 55% in the same time frame. Definitely, not an inflation hedge. Bitcoin has been the most incredible speculative "asset" of this century but its sheer volatility makes it unreliable for the average person. It could be near $0 or closer to $100,000 by the end of the year.
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