Bitcoin: my answer to the repeated questions. No, there is NO way to properly short the bitcoin "bubble". Any strategy that doesn't entail options is nonergodic (subjected to blowup). Just as one couldn't rule out 5K, then 10K, one can't rule out 100K. Gabish?
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Note that Bitcoin has a limited number of natural sellers. The entire concept is very concave supply (it costs more and more to extract). The number of producers shrinks with time.
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Replying to @paulportesi @nntaleb
The biggest point of Bitcoin is still held to Nassim's "Lindy effect". It's simply too early. It will most likely be replaced with another technology.
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Replying to @paulportesi @nntaleb
Good technologies replace much more fragile technologies of the past. Some of the crypto hype is neomania but the initial conception was to destroy the fragile central banking and soviet-Harvard illusions of collective control.
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Bitcoin *is* the best. Don't believe what the proponents of all the other altcoins tell you. Their "better" features come with significant, prohibitive trade-offs. For years many have tried to do a better crypto-currency. We still know no better way.
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Most altcoins are neomania in my opinion. They are just a new option in the Bitcoin space to get people excited
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Most early altcoins were just cheap clones with a few parameters changed, but by now there are significantly different systems sometimes claiming totally different goals or niches, or straight-out claiming they're "meta", "2.0", "3.0", thus superior.
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Exactly. These things are good in a way because there destruction shows BTC a path NOT to take, but they carry hidden Cost in the form of the people who fall for their sometimes fraudulent ideas
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Thank you.
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