Bitcoin, Currencies, and Fragility · HackerPapers discussions

Bitcoin, Currencies, and Fragility — mentioned by maxbond

Sat, 13 May 2023 22:44:20 GMT

You can think of currency as a negative coupon bond, even - if you hold onto cash you generally expect it to lose value. In order to function properly as a currency, an asset needs to be the least volatile liquid asset available in the economy (or at least to be competitive along this axis). The expectation the asset will slowly depreciate is compatible with this requirement. The expectation that your currency is a highly deflationary lottery ticket to be traded on 100x margin (and the kicker is that your collateral is some other highly volatile cryptoasset) - not so much. That's why the…

Paper and discussion history. A mention is not an endorsement.

Bitcoin, Currencies, and Fragility — mentioned by 98Windows

Mon, 23 May 2022 09:31:29 GMT

Taleb has a paper arguing Bitcoins expected long term value is infact 0: https://arxiv.org/abs/2106.14204

Paper and discussion history. A mention is not an endorsement.

Bitcoin, Currencies, and Fragility — mentioned by m0llusk

Sun, 17 Apr 2022 19:42:28 GMT

According to legendary quant Nassim Nicholas Taleb so called cryptocurrencies are so fundamentally volatile that they cannot be considered currencies: https://arxiv.org/abs/2106.14204

Paper and discussion history. A mention is not an endorsement.

Bitcoin, Currencies, and Fragility — mentioned by m0llusk

Wed, 09 Feb 2022 05:05:06 GMT

Nassim Taleb argues that Bitcoin is not a currency but rather a fundamentally volatile security: https://arxiv.org/abs/2106.14204

Paper and discussion history. A mention is not an endorsement.

Bitcoin, Currencies, and Fragility — mentioned by doubtfuluser

Thu, 06 Jan 2022 10:12:52 GMT

At least on the monetary side I liked Nassim Taleb‘s paper [1]. I don’t agree with everything he writes but for crypto-currencies he has some points that ring true. For crypto in general I see definitely the supply chain application, but still think it is in the hype part of the cycle. [1]: https://arxiv.org/abs/2106.14204

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Bitcoin, Currencies, and Fragility — mentioned by setgree

Wed, 29 Dec 2021 17:31:31 GMT

obligatory arXiv-vanity conversion: https://www.arxiv-vanity.com/papers/2106.14204/

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Bitcoin, Currencies, and Fragility — HN submission

Wed, 29 Dec 2021 16:11:43 GMT

Nassim Taleb: Bitcoin, Currencies, and Fragility [pdf]

88 points; 110 discussion replies on HN. Paper and source history. A submission is not an endorsement.

Bitcoin, Currencies, and Fragility — HN submission

Wed, 08 Sep 2021 09:44:31 GMT

Bitcoin, Currencies, and Fragility

3 points; 0 discussion replies on HN. Paper and source history. A submission is not an endorsement.

Bitcoin, Currencies, and Fragility — mentioned by ArtWomb

Tue, 10 Aug 2021 00:42:52 GMT

Never knew NNT wrote a Bitcoin "black paper" ;) https://arxiv.org/pdf/2106.14204.pdf >>> Gold and other precious metals are largely maintenance free Hard to argue that transacting large quantities of Gold around the world requires little to no infrastructure!

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Bitcoin, Currencies, and Fragility — HN submission

Mon, 26 Jul 2021 21:45:13 GMT

Bitcoin, Currencies, and Fragility

2 points; 0 discussion replies on HN. Paper and source history. A submission is not an endorsement.