“Black Swan” author Nassim Nicholas Taleb on Friday criticized bitcoin as a “gimmick,” telling CNBC he believes it’s too volatile to be an effective currency and it’s not a safe hedge against inflation.
Basically, there’s no connection between inflation and bitcoin. None. I mean, you can have hyperinflation and bitcoin going to zero. There’s no link between them,” Taleb said in a “Squawk Box” interview.
A VERY SIMPLIFIED TUTORIAL (VERY SHORT) Correlation measures are misused in the presence of nonlinearities.
(How a measure of unintelligence can give the illusion of high correlation with performance.)
Correlation measures are not supposed to be used in the presence of nonlinearities. When 2 variables correlate half the time (in a symmetric way around the mean), correlation will not be 50% but will show ~90%. Part of debunking IQ studies. If IQ works for disabilities but does not correlate with success, there is an illusion of correlation because of the biases in the metric.
Most of the tension resides between 1) Embedded, complexity-minded, multiscale/fractal localism (politics as an ecology/complex adaptive system), and 2) Abstract one-dimensional universalists and monoculturalism (politics as a top-down engineering project). We go beyond the verbalism; we rely on information theory, complexity theory, uncertainty approaches (say fragility), and probabilistic rigor to look at politics with the same eyes as we examine highly dimensional interactive elements such as nature, biological systems, internet networks, and medical issues.
Nassim and Yaneer discuss the Danish study on Face Masks published by Bundgaard et al., “Effectiveness of Adding a Mask Recommendation to Other Public Health Measures to Prevent SARS-CoV-2 Infection in Danish Mask Wearers.”
How do you learn a language? There are two routes; the first is to memorize imperfect verbs, grammatical rules, future vs. past tenses, recite boring context-free sentences, and pass an exam. The second approach consists in going to a bar, struggling a little bit and, out of the need to blend-in and integrate with a fun group of people, then suddenly find yourself able to communicate. In other words, by playing, by being alive as a human being. I personally have never seen anyone learn to speak a language properly by the first route. Also, I have never seen anyone fail to do so by the second one.
In a “Squawk Box” interview, Taleb specifically pointed to the importance of coronavirus testing. While countries have improved their capacity since the early days of the Covid-19 outbreak, Taleb said there has been a failure to develop quick, efficient testing at a scale that can cut off chains of transmission early. It also has the least economic cost, he said.
If you think you will change the behavior of religious people by modifying the theologies, you are committing the standard Weberian fallacy. It is not about the religion; it is about clusters of people who happen to have that religion and their culture.