FabHK

26 ms·

511.
by FabHK 2y ago
Yes, it's always the user's fault if they lose their crypto, because crypto outsources the hard parts, such as key management, to the user.
512.
by FabHK 2y ago
What's the irrevocable USP that Bitcoin has? Is it because it was first, like Yahoo, MySpace, and Friendster?
513.
by FabHK 2y ago
Toothless indeed. The whole "It's early days" narrative is so misguided. The smartphone is maybe a year older than crypto, but a roaring success. Nobody needs to explain [1] how great smartphones are, because they're obv
514.
by FabHK 2y ago
You can't do uncollateralised borrowing/lending without credit checks, that is interaction with the real world. This requires trusted centralized counterparties, identity, etc., and is not suited for permissionless blockchains. Tr
515.
by FabHK 2y ago
If you look at the market cap of coins, it is obvious that nobody gives a flying fuck about the underlying technology. Bitcoin copies/forks like Litecoin and Bitcoin Cash, jokes like Dogecoin and Shiba Ina, memecoins like $TRUMP are in
516.
by FabHK 2y ago
Yes: https://www.economist.com/audio/podcasts/scam-inc
517.
by FabHK 2y ago
This is nonsense. Money supply is related to inflation, but not the same, and the graph you showed is the clearest proof of that - money supply shot up in the wake of the GFC, while inflation reared its ugly head only in the wake of supply
518.
by FabHK 2y ago
The Economist has an excellent and heartbreaking podcast about this scam industry that they estimate at $500bn annually, but it's available to subscribers only I believe. Crypto use cases: 1. Financing North Korea's nuclear missil
519.
by FabHK 2y ago
I wouldn't call it "mistaken". It was an arbitrary choice at the time, nothing but a naming convention.
520.
by FabHK 2y ago
Indeed. If you sell a suitcase of cocaine, you need to launder two suitcases of cash.
521.
by FabHK 2y ago
The point of the article seems to be that it used to be bugs and raw incompetence, and now it's graduated to insufficient OpSec. Significant progress for crypto.
522.
by FabHK 2y ago
They charged consumers on average 155 bp (!), and institutional 4 bp. So consumers are charged 40x. Nice business. TradFi has wet dreams of margins like that for simple exchange business. Source: Their 2024 10K, pages 92 and 94, and my calc
523.
by FabHK 2y ago
Or, you know, employ technology that allows for mistakes to be fixed.
524.
by FabHK 2y ago
Sure, and that gold standard failed. Fiat (with a money supply that can be discretionarily managed, and allows for monetary policy) is indispensable to a modern economy.
525.
by FabHK 2y ago
Tether is an absolutely remarkable business, indeed. Basically an unregulated bank that pays no interest and follows no KYC/AML/ABC/CTF rules (because they just deal with wholesale, and then the Tethers are transacted on some
526.
by FabHK 2y ago
Sure, smart consumers can claw back some of that. But what you have then is merchants raising average prices, and consumers that use such credit cards being subsidized by those that don't.
527.
by FabHK 2y ago
The "oh but there's crime in fiat" argument holds no water. Sure, HSBC facilitated money laundering and drug trafficking in Mexico. And when it came out, the fiat response was a huge outcry and putting a stop to it. The crypt
528.
by FabHK 2y ago
Note that Coinbase (like most exchanges) charges retail clients outrageously high fees (orders of magnitude more than you would pay at a competitive FX or equity broker), but institutional and whales that trade a lot very small fees. Yet an
529.
by FabHK 2y ago
> Crypto hosts the most profitable businesses in the world. Well, because the retail clients expect to get rich and don't mind paying 1% or so fees per exchange. Similarly, the BTC future basis (the difference between the spot price
530.
by FabHK 2y ago
Credit card interchange fees being ridiculously high is pretty much a US thing: > In the United States, the fee averages approximately 2% of transaction value. In the EU, interchange fees are capped to 0.3% of the transaction for credit
531.
by FabHK 2y ago
Crypto use case: Finance North Korea's nuclear missile program.
532.
by FabHK 2y ago
Makes sense. From the article: > Cockerell began running tours to North Korea with the company Koryo Tours in 2002 ... > Ten years later, Cockerell met a North Korean who was working in China, and that man had the contacts necessary
533.
by FabHK 2y ago
In case you didn't chuckle: https://en.wikipedia.org/wiki/The_Death_of_the_Author
534.
by FabHK 2y ago
Entry level 16e - one lens. Mid-tier 16 - two lenses. Top-tier 16 Pro - three lenses. The segmentation is very visible.
535.
by FabHK 2y ago
Indeed. And maneuvering speed V_A is designed such that as long as you don't exceed it, you will stall before breaking the wings off in case of turbulence or full control deflection.
536.
by FabHK 2y ago
Rotation around the - longitudinal axis: roll, controlled by ailerons. - vertical axis: yaw, controlled by rudder. - lateral axis (through the wings): pitch, controlled by elevators.
537.
by FabHK 2y ago
Ah, the good old "checkerboard" approach. Visible in the second video from 3:10 to 3:25 on the left, and when it was clearly visible it was time to turn right and land. After the move to the new Chek Lap Kok airport in 1998, the c
538.
by FabHK 2y ago
90º = 6/6, 60º = 5/6, 40º = 4/6, 30º = 3/6, 10º = 1/6 strikes me as pretty accurate.
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by FabHK 2y ago
Merriam-Webster has it as "chiefly British spelling" of jail, and Oxford English Dictionary has it as a "variant". https://www.merriam-webster.com/dictionary/gaol https://www.oed.com&#x2F
540.
by FabHK 2y ago
I have a nice unregistered recent Kindle that I put books on via USB (I don't even give it WiFi access), and every single time I switch back to the main library to pick a new book to read it puts up a modal informing me that it doesn

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