arnavs

4 ms·

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Startup CEO says he was fired for microdosing LSD at work(fortune.com)
3 points by arnavs 5y ago|1 comments
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by arnavs 6y ago
You're right to distinguish between currencies with exogenous demand (like USD) and those like BTC. But the "bank run" comment makes no sense, even for beanie babies. Bank runs exist in a fractional reserve context -- because
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by arnavs 6y ago
One reason I dislike inflation is that I don't want my currency -- a utility object -- having opinions about my financial life. Inflationary monetary policy and its consistent 'nudge' to spend is the economic equivalent of th
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by arnavs 6y ago
You're right that BTC has no commodity utility outside of "being money." But I think society needs money, as much as it needs an energy source. Gold is one object that's served the money function in the past. It has prop
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by arnavs 6y ago
Crypto mining produces a service, which is maintaining a ledger of payments that works in a certain way. This specific problem — settling transactions — is an industry amounting to billions. Think of BTC like a MasterCard or Visa competitor
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by arnavs 6y ago
I use this stack. One extension I wrote is https://github.com/quantecon/instantiatefromurl.jl , to bind generated notebooks to Julia TOML (i.e. Julia's `requirements.txt`) that lives in a git repo. This means they
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by arnavs 6y ago
Bear Stearns declined to participate in the Fed-organized bailout of LTCM. Ten years later, the Fed declined to participate in any bailout of Bear Stearns.