Oddbean new post about | logout
 i think culturally we over-define risk. 

Bitcoin IS a hedge, but that's only a few lines on your life's risk register. We are all ultimately short vol/mortal. 

Money is just a means to the ends of achieving freedom and human potential, but we still own the 'total' responsibility of that. 

The money's fixed. Good, but the analog map has not been made any safer, arguably less safe in a transitional period. 

So it's a spanner for a bolt, and a hammer for a nail. 

And its a bitcoin for an inflationary, confiscatory and censorious era, and freehold productive multi use land for the scramble we're sailing into. Long vol = most amount of options in the widest range of future circumstances. Basically stay humble. Not a glib line, literally plan along the lines that you dont know what is going to happen. First fear you think of is the first risk on the register. 

And let the hammer people argue with the spanner people about who's the best. Have a bit of everything, even luxury. 

 
 So cool how your “vol” experience has helped shaped your thinking, with then the Bitcoin twist 

A amalgamation of those things is the current you (as we all are)

Money is fixed. Yes. Money is also still the same: a technology that is useful for what it buys you

The question then becomes an allocation one. How much of what thing should you own?