The document discusses the concept of optionality, which refers to having options or flexibility in various areas of life, similar to how financial options work. It provides definitions for key terms like option, call/put options, and optionality. It also discusses topics like how to pick life options, definitions of freedom, whether more options are always good, and using optionality concepts like parallel systems and remote work to increase stability and reduce sensitivity to uncertainty and volatility.

1. Juraj Bednár
@jurbed
hackyourself.io
optionplus.io <- podcast
juraj.bednar.io/en <- homepage / blog

2. 2020

3. Uncertainty

5. Optionality

6. Option - I may, but I don’t have to
exercise it

7. • You need to own the option before
you can exercise it - some work/
investment in advance is required
• Using the option should be
relatively cheap

8. • A “Call option” is a right to buy
underlying at a certain price (called
strike) at the time of maturity. Put
option is a right to sell underlying at
a certain price.
• Relationship between price and
volatility is mathematical (Black-
Scholes)
• The higher the volatility, the higher
the price of (either call or put)

10. Optionality - similar to financial options,
but applied to various areas of life

11. An option to use FFP3 respirator - super
cheap in January, not so much in May

12. Stability
Central authority
Decentralization /
freedom /
optionality

13. How to pick options for your life?

14. Definitions of freedom
Freedom from - I don’t have to do what someone else tells me
Freedom to - I exercise my creativity and I am a producer
Optionality

15. Is it always good to have more
options?

16. Bitcoin as a hedge against failing
financial system

17. Volatility is inherent in Bitcoin, otherwise it
would not work. Don’t wait for volatility to
go down, make use of it!

18. “Just in time” buying when you need it
does not work with options nor insurance

19. Parallel systems - less sensitive to
volatility, one dies, another is born

20. Remote work

21. Electricity - solar panels

22. Uncertainty and “volatility of volatility” -
the fight between old and new on a graph

23. Build infrastructure for volatile times!
Ethical crypto dealers
Decentralized markets (laundry detergent, farm food not only cocaine) -
everyone should participate, always for crypto. Build a muscle, even if
inconvenient
Societal structures (Parallel Polis) - clubs, fun, division of labor

24. Juraj Bednár
@jurbed
hackyourself.io
optionplus.io <- podcast
juraj.bednar.io/en <- homepage / blog