4 ms·

>That piece is the definitive explanation of the issue. Is it common to say this about your own work?

alwa 2y ago
It’s uncommon for it to be true—but patio does go on to supply third-party blurbs to support the idea, and as far as I understand his reputation, I believe his claim is probably accurate. In context it strikes me less as stroking his own ego and more as contextualizing the bank CEO’s claim.
mplewis 2y ago
When you’re Patrick McKenzie, it’s just the truth.
- itsoktocry 2y ago
  patio11 is decidedly anti-crypto from what I gather. Nothing wrong with that, but he's been calling for Tether to implode for, what, 5+ years? He's not omniscient about this stuff. https://www.kalzumeus.com/2019/10/28/tether-and-bitfinex/ https://www.kalzumeus.com/2019/10/28/tether-and-bitfinex/
  - ahnick 2y ago
    Tether was very likely insolvent at one point in its life, but seems to have been able to fill the hole over time given they basically just print profits from the interest on its USD holdings.
malthaus 2y ago
no, but like with paul graham's essays, people have an unhealthy obsession with both their writing (which is irrelevant outside of the ycombinator/sv bubble) to the point where it seems to signal to be part of an insider club more than provide actual value, which may lead to fuel one's ego a bit too much. turning this into another overly verbose blog post doesn't really help my thinking on the matter (which, to be fair, is even less relevant than his musings)
- patio11 2y ago
  This is occurring against a backdrop of e.g. hearings of the U.S. Senate Banking Committee. I regret to inform you that the broader issue is of great interest outside our circles. One of the three witnesses the Senate Banking Committee chose to call requested, the following day, a retraction from me… for reasons. I certainly did not see this ever happening when I started selling bingo cards on the Internet, but here we are.
  - patio11 2y ago
    (Correcting record: four witnesses.)
- itsoktocry 2y ago
  Yeah, pg is a great example: obviously bright guy, pioneering VC, who now dishes out some of the worst takes on Twitter. Are we supposed to care what he thinks still? For what it's worth, I think patio11's writing on software consulting is the best I've ever read. I'm sure he knows this space well, but there are...different viewpoints.
deleted 2y ago
[deleted]
anon84873628 2y ago
I interpreted that to imply the subsequent phrase "within the Bits about Money universe." As in, the article you're currently reading is not going to be explaining the topic again. But a whole paragraph of this piece is analyzing the use of the term "retraction," so I guess we could expect him to be a bit more careful with the word "definitive".

alwa 2y ago

It’s uncommon for it to be true—but patio does go on to supply third-party blurbs to support the idea, and as far as I understand his reputation, I believe his claim is probably accurate. In context it strikes me less as stroking his own ego and more as contextualizing the bank CEO’s claim.

mplewis 2y ago

When you’re Patrick McKenzie, it’s just the truth.

itsoktocry 2y ago
patio11 is decidedly anti-crypto from what I gather. Nothing wrong with that, but he's been calling for Tether to implode for, what, 5+ years? He's not omniscient about this stuff. https://www.kalzumeus.com/2019/10/28/tether-and-bitfinex/ https://www.kalzumeus.com/2019/10/28/tether-and-bitfinex/
- ahnick 2y ago
  Tether was very likely insolvent at one point in its life, but seems to have been able to fill the hole over time given they basically just print profits from the interest on its USD holdings.

malthaus 2y ago

no, but like with paul graham's essays, people have an unhealthy obsession with both their writing (which is irrelevant outside of the ycombinator/sv bubble) to the point where it seems to signal to be part of an insider club more than provide actual value, which may lead to fuel one's ego a bit too much. turning this into another overly verbose blog post doesn't really help my thinking on the matter (which, to be fair, is even less relevant than his musings)

patio11 2y ago
This is occurring against a backdrop of e.g. hearings of the U.S. Senate Banking Committee. I regret to inform you that the broader issue is of great interest outside our circles. One of the three witnesses the Senate Banking Committee chose to call requested, the following day, a retraction from me… for reasons. I certainly did not see this ever happening when I started selling bingo cards on the Internet, but here we are.
- patio11 2y ago
  (Correcting record: four witnesses.)
itsoktocry 2y ago
Yeah, pg is a great example: obviously bright guy, pioneering VC, who now dishes out some of the worst takes on Twitter. Are we supposed to care what he thinks still? For what it's worth, I think patio11's writing on software consulting is the best I've ever read. I'm sure he knows this space well, but there are...different viewpoints.

deleted 2y ago

[deleted]

anon84873628 2y ago

I interpreted that to imply the subsequent phrase "within the Bits about Money universe." As in, the article you're currently reading is not going to be explaining the topic again. But a whole paragraph of this piece is analyzing the use of the term "retraction," so I guess we could expect him to be a bit more careful with the word "definitive".