3 ms·

>I assumed that Bitcoin’s extreme volatility would be a turnoff. How many Americans actually own it? It would be interesting to see if it were possible to kno

>I assumed that Bitcoin’s extreme volatility would be a turnoff. How many Americans actually own it? It would be interesting to see if it were possible to know where they were mined. This may be an oxymoron, but more transparency may make the average joe more likely to invest in it. BTC also has this going for them : “Fools” can go short, but the key is that shorting can’t be done properly, Taleb said.(https://www.marketwatch.com/story/nassim-black-swan-taleb-says-bitcoin-cant-be-shorted-properly-as-futures-debut-2017-12-11 https://www.marketwatch.com/story/nassim-black-swan-taleb-sa...)

unknown_apostle 9y ago
To clarify: by this, Taleb means simply that there are no options on bitcoin (there aren't any, right?) With options you'd buy OTM puts. You could maybe even succeed purely on rising vol if they crank up the volatility even higher to 11 :-)
- bob_theslob646 9y ago
  The vol of bitcoin is way higher than 11. >To clarify: by this, Taleb means simply that there are no options on bitcoin (there aren't any, right?) This is what he said. "Very big point. Futures that don't have deliverables require a very, very deep market. Otherwise someone long the future can push prices higher at settlement time with impunity, by "locking" profits (never having to resell a deliverable)." (https://twitter.com/nntaleb/status/939852491130396673?ref_src=twsrc%5Etfw&ref_url=http%3A%2F%2Fwww.marketwatch.com%2Fstory%2Fnassim-black-swan-taleb-says-bitcoin-cant-be-shorted-properly-as-futures-debut-2017-12-11 https://twitter.com/nntaleb/status/939852491130396673?ref_sr...)
  - unknown_apostle 9y ago
    Yes I mean 11 as in Spinal Tap 11.
  - tcbawo 9y ago
    Not sure about Bitcoin futures, but there are also options on futures. Although similar principles apply. Just wait until people start manipulating the market to push the futures and options around. There is a lot of bad behavior that is monitored and punished by the SEC. I'm not sure which domestic regulatory body will assert itself over cryptocurrencies.
    - bob_theslob646 9y ago
      SEC does not regulate futures. >Commodity Futures Trading Commission (CFTC)—the federal agency that does regulate futures trading. (https://www.sec.gov/fast-answers/answers-cftchtm.html https://www.sec.gov/fast-answers/answers-cftchtm.html)

unknown_apostle 9y ago

To clarify: by this, Taleb means simply that there are no options on bitcoin (there aren't any, right?) With options you'd buy OTM puts. You could maybe even succeed purely on rising vol if they crank up the volatility even higher to 11 :-)

bob_theslob646 9y ago
The vol of bitcoin is way higher than 11. >To clarify: by this, Taleb means simply that there are no options on bitcoin (there aren't any, right?) This is what he said. "Very big point. Futures that don't have deliverables require a very, very deep market. Otherwise someone long the future can push prices higher at settlement time with impunity, by "locking" profits (never having to resell a deliverable)." (https://twitter.com/nntaleb/status/939852491130396673?ref_src=twsrc%5Etfw&ref_url=http%3A%2F%2Fwww.marketwatch.com%2Fstory%2Fnassim-black-swan-taleb-says-bitcoin-cant-be-shorted-properly-as-futures-debut-2017-12-11 https://twitter.com/nntaleb/status/939852491130396673?ref_sr...)
- unknown_apostle 9y ago
  Yes I mean 11 as in Spinal Tap 11.
- tcbawo 9y ago
  Not sure about Bitcoin futures, but there are also options on futures. Although similar principles apply. Just wait until people start manipulating the market to push the futures and options around. There is a lot of bad behavior that is monitored and punished by the SEC. I'm not sure which domestic regulatory body will assert itself over cryptocurrencies.
  - bob_theslob646 9y ago
    SEC does not regulate futures. >Commodity Futures Trading Commission (CFTC)—the federal agency that does regulate futures trading. (https://www.sec.gov/fast-answers/answers-cftchtm.html https://www.sec.gov/fast-answers/answers-cftchtm.html)