"Can"t Rule Out $100,000" - Taleb Warns Futures Traders "No Way To "Properly" Short Bitcoin Bubble"

Following Mike Novogratz"s earlier comments about the launch of Bitcoin futures,

“The market trades like it wants to go up, not down...

 

We are in a speculative mania and my sense is we are still fairly early.”

Infamous "Black Swan" theorist and tail-risk-hedger, Nassim Nicholas Taleb has a warning for the "no brainer" traders hoping to use Bitcoin futures to bet against the "bubble"...

In his tweet, Taleb said,

“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.”

Taleb"s view was reinforced by Cybersecurity pioneer John McAfee in a tweet earlier saying:

“Those of you in the old school who believe this is a bubble simply have not understood the new mathematics of the blockchain, or you did not care enough to try.

 

Bubbles are mathematically impossible in this new paradigm. So are corrections and all else.”

For now prices are holding gains...

John McAfee's New Company is Making a Killing in Bitcoins, But No One Gives a Damn

Crazy John McAfee from the jungles of Belize is running a tiny company, specializing in cyber-security and mining bitcoins.

Revenues for the last quarter eclipsed $300m, from basically nothing when he took over, yet no one gives a shit.

The stock has been stuck in retard range, thanks to a pending SEC execution.

Nevetheless, McAfee says his little offal of a company will be profitable by year end -- all thanks to bitcoins.

"We will definitely be profitable before the end of the year," McAfee said in a phone interview Wednesday. "From bitcoin mining, we will get the experience and expertise to apply the blockchain to our security products."

Their bitcoin mining operations are located deep in the mountains of Washington state, manned by two lads whose only task is to ensure the air conditioners are operating efficiently, in order to protect the mining machines from overheating.

There"s digital gold in them hills.

On Monday, the company said it got financing to acquire 1,000 mining computers from Bitmain Tech, a Chinese based firm. With these new computers, MGT will have a total of 1,300 mining for bitcoins. McAfee"s goal is to become the biggest bitcoin miner in the world.

With the new mining capacity, McAfee intends to generate 225 bitcoins per mo, up from the current 100.

The blockchain has taken on an absurd amount of "alternative currencies." One of the hot one"s now is based on RARE PEPE art, designated as PEPE CASH, backed by rare Pepe art. You can"t make this stuff up. McAfee insists we"re not in a crypto-bubble.

"No matter how much government and regulators may scream and complain, there will be a world standard alternative currency," McAfee said. "Bitcoin appears to be the one... It cannot possibly be a bubble."

Aside from suing Intel for the right"s to rename their company John McAfee Global Technologies, McAfee"s employees, 12 in total, are focused on cyber-security. They"ve developed a product dubbed "Sentinel", which is an anti-hacking software, and they"re developing a "privacy phone" that has a kill switch on it.

"I don’t know anyone more capable than me," said McAfee. "I have never lost in terms of business and I certainly don’t intend to start now."

 
Content originally published at iBankCoin.com