Bitcoin Antifragility Fantasy Football – Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides


“Nassim Nicholas Taleb is a Lebanese-American essayist, scholar, mathematical statistician, and former option trader and risk analyst, whose work concerns problems of randomness, probability, and uncertainty.” — Nassim Nicholas Taleb

Introduction

Life is a constant stream of decisions, the outcomes of which shape our futures. In this constant churn of decisions, we seek to improve our odds against the inevitability of randomness, whenever possible. We want to make well-informed decisions to best position ourselves to benefit from these external uncertainties. All people use this probabilistic approach in their daily lives, whether it is realized or not, i.e., “If I want the best outcome, should I do X or Y? Which one has the higher probability of a favorable outcome? That’s the one I choose.”

In order to make a decision, you need to focus on the consequences (which you can know) rather than the probability (which you can’t know) — Nassim Nicholas Taleb

As it turns out, Bitcoin believers and fantasy football players are kindred spirits when it comes to making decisions that benefit from chaos. Bitcoiners and a certain sect of fantasy football drafters are both betting on probabilistic outcomes using the same foundational principle. A principle that was conceived and popularized by scholar, mathematical statistician, and former risk analyst, Nassim Nicholas Taleb. That principle is called “antifragility.”


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