MichaelConlon

6 ms·

1.
by MichaelConlon 2y ago
The title doesn't make this clear but this was a decision made by the FTC not by an executive order. There's still an argument that can be made about the extent to which the executive branch vs. legislative branch should be decidi
2.
by MichaelConlon 4y ago
While it is not technically "creating" new money it is expanding the supply of money (credit) in the economy. In the above example you still have $1000 owed to you and the company/person receiving that loan now has $900. That
3.
by MichaelConlon 5y ago
Just throwing another opinion in the mix. I think it's healthy to recognize one's own work in addition to that dumb luck. It's certainly lucky that we liked computers but it's also true that a lot of us worked hard and t
4.
by MichaelConlon 7y ago
You're correct in that it means that the bank messed up. The idea is that this is for (relatively) small amounts to cover reserve funds for a short period of time. This may happen because large deposit accounts decided to withdraw unex
5.
by MichaelConlon 7y ago
The cash reserve system was introduced to protect against a 1920's style bank run. The idea being that a bank should have enough liquid assets to cover 10 or 15% of their customers pulling all of their deposited funds out of the bank.
6.
by MichaelConlon 7y ago
They are not the same product[1]. uBlock was the original tool but was handed over to another maintainer some time ago. The original developer of uBlock, being unhappy with the direction of the tool, forked the repo and made uBlock Origin w
7.
by MichaelConlon 7y ago
Bitcoin uses proof of work [1] to verify transactions on the network. For someone to effectively rewrite the network they would need to control 51% of the total computing power (in hashes/sec) on the bitcoin network. [1] https:/&