BITCOIN WORD OF THE DAY - Nonergodic
“No, there is NO way to properly short the bitcoin “bubble”. Any strategy that doesn’t entail options is nonergodic (subjected to blow up). Just as one couldn’t rule out 5K, then 10K, one can’t rule out 100K.”
-Nassim "Birdwatcher" Nicholas Taleb
"er·god·ic
ərˈɡädik/
adjective Mathematics
relating to or denoting systems or processes with the property that, given sufficient time, they include or impinge on all points in a given space and can be represented statistically by a reasonably large selection of points."
Just what IS Taleb saying here?
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