5 ms·
I think much of the effort is wasted. When you hire embedded designers to program FPGAs and ASICs just to be a few nanoseconds faster in your rent-seeking, it's
by xradionut 13y ago
I think much of the effort is wasted. When you hire embedded designers to program FPGAs and ASICs just to be a few nanoseconds faster in your rent-seeking, it's a bloody shame.
- kasey_junk 13y agoTechnology is making the existing system much more efficient, lowering the total amount of "rent-seeking" in the system. If this was any other industry it would be lauded. I don't understand the moralizing about this industry while we applaud start ups for building ever more complex twitter aggregators.
- xradionut 13y agoLast time I checked, twitter programmers don't have a record of destroying economies nor deep capturing regulators.
- kasey_junk 13y agoWhat economy did low latency trading destroy? Also, is there any more deep capturing of regulators in the finance space post low latency trading than there was pre?
- deleted 13y ago[deleted]
- auntienomen 13y agoThis is an ignorant statement. The cause of the economic crash in 2008 was leveraged bets on lots of bad debt. These bets were made by fratboys in suits, shaking hands and making phone calls and sending emails. The financial instruments they used to do this were bespoke one-off deals, not securities traded on public exchanges. High frequency trading had nothing to do with any of this. HFT deals in fungible instruments traded in public markets.
- tedunangst 13y agoBut if you do it to mine bitcoins, you're a visionary.