/biz/ - Business & Finance

[Anonymous No.28881168]

Nick Taleb is one of the smartest men alive. I’ve read two of his books. “The Black Swan” is the hardest book to understand that I’ve read. It took forever to get past each page. That’s because he is many times smarter than I, and he thinks at a higher plane than I can readily comprehend. His disciplines might be described as Investmants, risk management, philosophy.

>Why mention him?
Today he said “Bitcoin is a failure, at least for now. A currency should never be more volatile than what you can buy with it. You can’t price goods in BTC.”

Nobody has a crystal ball, but this guy is a risk management guru. Try reading his book. It is spectacular. Then sell your cryptocurrencies and invest in companies with known products and prospects. Risk management is about minimizing loss, not maximizing gains. The losses kill you.

[Anonymous No.28881329]

the $ is also volatile if you price it against bitcoin

the argument is stupid

[Anonymous No.28881347]

[Anonymous No.28881472]

>>28881168
>dat jaw line

sexy dude

[Anonymous No.28881543]

>>28881168
Bitcoin is not a currency.

It is an asset, a store of value.

Litecoin, BCash or other blockchain inventions can become proper currencies.

[Anonymous No.28881624]

>>28881168
>Risk management is about minimizing loss, not maximizing gains. The losses kill you
Most beta thing i've read all year. I position myself at maximum risk because I want to gain everything.

[Anonymous No.28881822]

>>28881168
>>28881543
Both of these are sort of true. BTC's original proposition of being a currency has in fact, failed. The cost of transaction and volatility is simply too high. That said, it's a faith backed asset now, much like gold.

Other cryptos can and do fill BTC's original intent, but BTC will not.

[Anonymous No.28882247]

so he's smart because you're retarded and can't understand English the first time you read it? ok. also, his "muh volatility" comment is ever so slightly more retarded than you.

[Anonymous No.28882344]

>>28881624
when you have a lot of money you just go for small safe gains and try to avoid losing money
when youre trying to make it you need big gains and have little to lose

[Anonymous No.28882989]

His sudden turn on bitcoin for volatility doesn't make much sense. Why now? Is there a deadline where bitcoin has to stop being volatile, or Taleb declares it a failure? Isn't it possible it'll stabilize as if matures and traders learn to arbitrage the bull and bear markets?

Part of me thinks it's OP sec make governments think he no longer has his coins.

[Anonymous No.28883173]

>>28881168
Yeah I wish I never put 5k into crypto back in 2016 that is now 7 figures... I hate losing

[Anonymous No.28883357]

>>28881168
The volatility will reduce over time. It's mostly the effect of waking up from the delusion that currency is money. It is not. When confronted with the hardest form of money ever created, currency turns to mush. After we reach a tipping point, where most of the wealth pours into Crypto, still very far off, prices will be extremely stable. One day, an entire BTC cycle will have a less than 1% variation. Very far into the future.

[Anonymous No.28883562]

>>28881624

[Anonymous No.28883903]

>>28881329
Congrats you are a brainlet

[Anonymous No.28884093]

>selling at the start of a bull run
Lol
Can one be a contrarian and actually have done significant research into btc or crypto as a whole?

[Anonymous No.28884304]

>>28881168
> Implying a book is good because it's hard to understand
NGMI