FabHK

51 ms·

871.
by FabHK 3y ago
Just to add, what's called "capital" in banking is basically the bank's equity. And there are proposals to force banks to carry a lot more equity (even if, my god, that reduces the return on equity earned - with a concom
872.
by FabHK 3y ago
Yes, and this will finally bring banking to poor peasants in the third world!!111!! /s Seriously, the idea that crypto (with its concomitant key management problems) is a solution for the challenges facing the poor in badly governed co
873.
by FabHK 3y ago
Rule of thumb: We know that 2^10 ≈ 10^3, so 2^24 ≈ 10^(3/10*24) = 10^7.2. This 7.2 is about amplitude, but what we hear is power which is quadratic in amplitude, so take a factor of 2, and you're talking 14.4 bel, or 144 decibel f
874.
by FabHK 3y ago
Beethoven's 9th. > Kees Immink, Philips' chief engineer, who developed the CD, recalls that a commercial tug-of-war between the development partners, Sony and Philips, led to a settlement in a neutral 12-cm diameter format. The
875.
by FabHK 3y ago
There was a personal assistant who stole around GBP 4m from several of her bosses at Goldman Sachs. One of the bankers finally noticed when a 6-figure donation to Harvard bounced. One of other the victims later testified that his investment
876.
by FabHK 3y ago
Eh? That's not the argument. The argument is that an FT editor couldn't keep his mouth shut ~and was complicit in insider trading.~ The other (baseless) accusations you're talking about (and that led BaFin to investigate the
877.
by FabHK 3y ago
To add to that: In several jurisdictions, the calendars of when shares can trade (T, with a closing price) and when shares can settle (T+2) is distinct (say, shares can trade on NYE, but not settle). So, one definitely needs to maintain
878.
by FabHK 3y ago
You're going a bit extreme, but 5 auctions per week strike me as reasonable. If the markets are trading continuously, benefits of parsing new information go to those who parse it the fastest. If the markets trade in occasional auctions
879.
by FabHK 3y ago
How hasn't this been flagged dead yet?
880.
by FabHK 3y ago
This is clearly the right solution for the poor unbanked peasants crypto proponents are so concerned about. /s
881.
by FabHK 3y ago
Poor Satoshi. Vision: > purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the soluti
882.
by FabHK 3y ago
The difference is that you need cash and bank accounts and phones to run a modern economy. They're useful for many many things, and you can't do without, and we our best to police and minimise scams. Crypto, on the other hand, is
883.
by FabHK 3y ago
I've seen (older) German texts where "Jesus" is declined as in Latin, eg "the apostles Jesu" (=of Jesus, genitive) or "We saw Jesum" (=accusative). Somewhat jarring. As you say - when do you stop?
884.
by FabHK 3y ago
The article lists a BOM of EUR 2500.
885.
by FabHK 3y ago
Proton accidentally all the emails. [sorry]
886.
by FabHK 3y ago
Sorry, you have a sorted list of 10,000 Int32, so each of them needs around 32 bits, for a total of 40 KB. I can see how you can store them in 80 KB. I could also see how you would only store the distance to the next one (say 32-log_2(10,00
887.
by FabHK 3y ago
> curious how you're arriving at your figure Hi, sure. The nodes in the EVM do not collaborate to split the work, rather, they all perform (basically) the same work. So, you could instead run Ethereum with one node that connects to
888.
by FabHK 3y ago
> Proof of Stake is the widely deployed consensus model which isn't designed to waste energy. Nicely put. PoS is still around a million times more wasteful than the effective work it does, though.
889.
by FabHK 3y ago
Traditional banking also does a lot more than what BTC does. BTC is about 9 orders of magnitude less efficient than the effective work it does. Look, you can run a full Bitcoin node on a Macbook that uses 20W. It can easily verify 5 transac
890.
by FabHK 3y ago
Yes. PoW blockchains: energy efficient, secure, supporting a highly valuable crypto currency - pick any two.
891.
by FabHK 3y ago
> thousands of people believe it is worth paying for. Except, in good old libertarian fashion, they tend not to pay for it. First, the vast majority of the around $100 it costs to process a BTC transaction comes not from explicit fees, b
892.
by FabHK 3y ago
Re 1. The traditional banking industry does a lot (a lot!) more than moving entries in a ledger from A to B. That, in fact, is a minuscule part of what's going on. Re 3. My rule of thumb is that crypto uses about 1% of world electric
893.
by FabHK 3y ago
> Crypto Wars Ah, the good old days, when "crypto" meant cryptography, and not some polluting get-rich-quick scheme. ETA: https://en.wikipedia.org/wiki/Crypto_Wars
894.
by FabHK 3y ago
One nitpick: It's not "total U.S. power", but electricity production. Power comprises (broadly speaking) electricity and fuel (which in turn is used for heating and transportation).
895.
by FabHK 3y ago
Not only that, when once there were 194bn BTC due to a bug, the miners "just stopped using it", rolled back, fixed the bug, and went forward from there. Blockchain is immutable! Code is law! Sure, unless it isn't.
896.
by FabHK 3y ago
Incidentally, Bitcoin miners make around $15bn a year (45k $/BTC * 6.25 BTC/block * 1 block/10 minutes * 60 minutes/h * 24 h/d * 365 d/a), of which probably more than half is cost, so running a profit of a few
897.
by FabHK 3y ago
> In many cases, this power would be otherwise wasted. What do you mean, "otherwise"?
898.
by FabHK 3y ago
PoS instead of PoW is about 1000x more efficient, meaning that instead of being about 1,000,000,000x more wasteful than the work it effectively does it's only about 1,000,000x more wasteful.
899.
by FabHK 3y ago
It can certainly be banned, prohibited, and censored to an extent (current BTC gossip protocol is unencrypted via TCP, if I'm not mistaken), plus the on/off-ramps can be outlawed.
900.
by FabHK 3y ago
Well, I don't want to make us all poorer, so I better start running the air conditioner and the heater with the windows open.

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