Bitcoin is Anti-Fragile: 20 Reasons
“Antifragility is beyond resilience or robustness. The resilient resists shocks and stays the same; the antifragile gets better.” — Nassim Nicholas Taleb
Bitcoin Improves as it Faces Uncertainty
This article is inspired by Nassim Nicholas Taleb’s Antifragile: Things that Gain from Disorder. The term that he created, Antifragile, means beyond resiliency, beyond robustness. It conveys something that improves in response to shocks and errors, as happens in the evolution of living organisms with errors and mutations. The most adaptable survive and prosper. This also happens for humans individually when they exercise; moderate stresses on the body confer benefits overall. Whole industries benefit from failures as weaker firms and less useful business ideas are weeded out (‘creative destruction’) and resources flow to superior technology and its implementation.
Bitcoin has survived many errors, shocks, and even splits from the main branch of its evolutionary tree. Bitcoin has falsely been declared dead by journalists and old fiat economy-wise men and women (or fiat economy dependent people) some 380 times: https://99bitcoins.com/bitcoin-obituaries/. All these events, or concerns, or self-interested attacks (Jamie Dimon, I am thinking of you) have not stopped Bitcoin. It gets stronger with every block laid down. Each 10 minutes the security of all prior transactions from all prior 630,000 plus blocks is enhanced.
Bitcoin is now functionally eternal, it certainly is positioned to survive beyond the year 2100. In each four-year era between Halvings, Bitcoin has grown in value, roughly as the fifth(!) power of the number of elapsed years (or number of blocks laid down). Over 100 million trillion hash calculations are being made every second by millions of ASIC mining rigs around the world to secure new transactions on its timechain.
Bitcoin is a black swan in relation to the fiat economy and banking system and emerged at the time of one of the largest black swans ever to hit the US and global economies. The Great Financial Crisis in 2008 was built on a sandpile of easy mortgage debt and easy money more generally and was triggered by mortgage shenanigans (CDOs, false security ratings, CDOs squared, liar loans, etc.).