5 ms·

Same stock is listed in more than one place, and also e.g. stock movements in NY affect stocks in London. There are undersea cables built for this purpose: http

by Torkel 6y ago

Same stock is listed in more than one place, and also e.g. stock movements in NY affect stocks in London. There are undersea cables built for this purpose: https://www.popularmechanics.com/technology/infrastructure/a7274/a-transatlantic-cable-to-shave-5-milliseconds-off-stock-trades/ https://www.popularmechanics.com/technology/infrastructure/a...

eecc 6y ago
What a waste of human ingenuity. And I thought ad-tech was bad enough
- unishark 6y ago
  That is true for much of the finance field.
  - emteycz 6y ago
    Actually it's not. There are objective benefits to society that you simply ignore.
    - piva00 6y ago
      As there are objective downsides that we, collectively, are ignoring right now. Financial capitalism shouldn't be praised, at the very best it's a lesson, we got useful tools out of it and that is all.
      - emteycz 6y ago
        I am not praising anything, I am correcting your statement that much of the financial industry is a waste of human ingenuity. That "waste of human ingenuity" enabled us to build the modern world.
        piva00 6y ago
        It wasn't my statement.
- TomGullen 6y ago
  I think you can argue on the whole is a waste, but I do believe it does have some advantages. EG efficient HFTs can reduce bid ask spreads which does save a lot of money for retail traders.
  - sverhagen 6y ago
    I think the premise was that such investments are wasteful if it's only for a trading arms race.
  - Dylan16807 6y ago
    But being able to do that 50 milliseconds faster really doesn't.
  - sumedh 6y ago
    > EG efficient HFTs can reduce bid ask spreads which does save a lot of money for retail traders. Berkshire Hathway has $1000+ spreads yet you dont see a lot of people complaining.
    - TomGullen 6y ago
      Stock price is probably a pretty big factor in that along with volume.
      - sumedh 6y ago
        Exactly, that is the point.
- paul_f 6y ago
  Don't forget using the equivalent of the entire power consumption of Austria to mine bitcoin?

by Torkel 6y ago

eecc 6y ago

What a waste of human ingenuity. And I thought ad-tech was bad enough

unishark 6y ago
That is true for much of the finance field.
- emteycz 6y ago
  Actually it's not. There are objective benefits to society that you simply ignore.
  - piva00 6y ago
    As there are objective downsides that we, collectively, are ignoring right now. Financial capitalism shouldn't be praised, at the very best it's a lesson, we got useful tools out of it and that is all.
    - emteycz 6y ago
      I am not praising anything, I am correcting your statement that much of the financial industry is a waste of human ingenuity. That "waste of human ingenuity" enabled us to build the modern world.
      - piva00 6y ago
        It wasn't my statement.
TomGullen 6y ago
I think you can argue on the whole is a waste, but I do believe it does have some advantages. EG efficient HFTs can reduce bid ask spreads which does save a lot of money for retail traders.
- sverhagen 6y ago
  I think the premise was that such investments are wasteful if it's only for a trading arms race.
- Dylan16807 6y ago
  But being able to do that 50 milliseconds faster really doesn't.
- sumedh 6y ago
  > EG efficient HFTs can reduce bid ask spreads which does save a lot of money for retail traders. Berkshire Hathway has $1000+ spreads yet you dont see a lot of people complaining.
  - TomGullen 6y ago
    Stock price is probably a pretty big factor in that along with volume.
    - sumedh 6y ago
      Exactly, that is the point.
paul_f 6y ago
Don't forget using the equivalent of the entire power consumption of Austria to mine bitcoin?