VHRanger

65 ms·

931.
by VHRanger 5y ago
A household spends to consume or enjoy leisure. You might invest it as well, but that's not "spending" A business spends to generate ROI.
932.
by VHRanger 5y ago
Bitcoin doesnt have good monetary properties? Go back to your textbook: - Medium of exchange: bad. Caps out at a few transactions per second, transaction cost go up massively when actually used. - Unit of account: Terrible. Because of price
933.
by VHRanger 5y ago
Any asset that isn't the currency is "a way out" When people specify Bitcoin or Gold as a particularly good "hedge for inflation" they betray the fact that they failed Macroeconomics 101. Everything that isn't
934.
by VHRanger 5y ago
It's extremely HackerNews-ish of you to propose that the author of the article ignores your pet theory. The author of the linked article is Barry Eichengreen, widely recognized as the premier scholar of the Great Depression. The articl
935.
The Gold Standard and the Great Depression (1997)(nber.org)
54 points by VHRanger 5y ago|144 comments
936.
by VHRanger 5y ago
I discuss it in this blog post: https://www.singlelunch.com/2021/09/20/inflation-is-not-cost... The ROI on college has been steadily going down since the 1970s. Colleges are in a position to extract the econo
937.
by VHRanger 5y ago
The internet maintains the very centralized BGP to solve routability Again, either you centralize or you keep having it be a toy
938.
by VHRanger 5y ago
It works great at tiny scales between small cliques of people who know each other. And it has for years. But it can't and never will work at large network sizes without being centralized. And no amount of development work will fix that
939.
by VHRanger 5y ago
It's not even NP-Hard, it's PSPACE-hard. Try finding the shortest path to a network where you only discover the edges once you reach a node. You only get hilariously suboptimal solutions Which is why in practice such a system has
940.
by VHRanger 5y ago
It either has to be a centralized system, preallocating large channels to work for people or you're exposed to an unsolved network discovery problem (Canadian Traveler problem)
941.
by VHRanger 5y ago
Lightning network style L2 models (where you preallocate channels) simply don't work as I see it. You either have to centralize the system, or you run into an unsolvable Canadian traveler problem making the thing fairly useless.
942.
by VHRanger 5y ago
IDK, I'm generally on r/badeconomics which is the best one of the badX gang, but as far as I saw, badhistory was very informal but generally fine? Like, sure there's probably a bias to the left but it's not the hellhole
943.
by VHRanger 5y ago
Right, but decentralized permission less L2 solutions are also technically useless because they generate an unsolved Canadian Traveller Problem To which the only solution is basically opening a new channel - eg. A new L1 transaction
944.
by VHRanger 5y ago
Are those single family zoned? Because if so they're also responsible for housing prices being insane in the area
945.
by VHRanger 5y ago
Uh, go to a place like r/badhistory where they actually cite sources for their problems with it for a start Actual academics have problems with it
946.
by VHRanger 5y ago
Fwiw that's based on "Guns, Germs and Steel" which is not very respected as an academic work
947.
by VHRanger 5y ago
Yes, we're totally ready for the thing that taps out at 7 transactions per second to "replace the monetary system" And don't give me the L2 lightning network bullshit. Both you and I know that it doesn't work as an
948.
by VHRanger 5y ago
They (through Alameda) issued about a third of all USDT, ever
949.
by VHRanger 5y ago
Tether has claimed their excess reserves is almost exactly $160m for more than a year. Two ways to confirm: - Go look at the wayback machine on their transparency page - Look at the difference in their attestations This implies they loot th
950.
by VHRanger 5y ago
Stablecoin yield accounts don't just beat inflation They guarantee ridiculous crap like 9% yields, beating historical equities YoY returns 9% yields are generally indicative of fraud - especially when we've had news of Ponzi like
951.
by VHRanger 5y ago
Frankly, what does it change? If you wanted to bet on Bitcoin from your grownup brokerage account, you already have a plethora of options: - $GBTC and $MSTR are piles of bitcoins with a ticker wrapped around it. - $MARA, $RIOT, $BTBT are bi
952.
A Nobel worthy game theory problem(singlelunch.com)
2 points by VHRanger 5y ago|0 comments
953.
Tether Props Up Toxic Crypto Carousel(coalexander.com)
2 points by VHRanger 5y ago|0 comments
954.
CFTC Orders Tether and Bitfinex to Pay Fines Totaling $42.5M(cftc.gov)
200 points by VHRanger 5y ago|197 comments
955.
Mongolian General Subutai(en.wikipedia.org)
3 points by VHRanger 5y ago|1 comments
956.
by VHRanger 5y ago
Crypto is not being used in any meaningful quantity for anything except speculation and crime. While some crypto may be at some point in the future a decent medium of exchange, at this point they're all deflationary and inefficient, le
957.
by VHRanger 5y ago
Yes, some NFT pumpers on twitter get very mad if you copypaste their avatar as your avatar.
958.
by VHRanger 5y ago
NFTs are speculative mania in its purest form. An NFT confers zero legal ownership over the underlying JPEG - without an intellectual property contract attached, you have no claim. You own the pointer to the image, and that's it. Moreo
959.
Bitcoin mining has driven up energy bills for residents and businesses(review.chicagobooth.edu)
59 points by VHRanger 5y ago|87 comments
960.
by VHRanger 5y ago
YOU DONT NEED TO SHOUT THE TITLE

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