danhak

21 ms·

91.
by danhak 6y ago
I agree that Bitcoin is here to stay and has utility. The issues that I have are 1) It is volatile and impossible to value; any price is as reasonable as any other. What is my benchmark here? The amount of USD in circulation? The value of
92.
by danhak 6y ago
His goal was to answer the interesting question: "how many hashes could I manually generate per day," not to generate hashes in the most efficient manner possible.
93.
by danhak 6y ago
You are being tracked, and your network is identifying you (tagging, mentioning you, posting photos that include you etc) whether or not you use Facebook. This is like telling people who have privacy concerns about 23andMe / Ancestry D
94.
by danhak 6y ago
I don't understand the implicit assumption that a new search engine that reaches Google's scale will be more adept at curtailing abuse.
95.
by danhak 6y ago
> Housing is a function of city council zoning policy... This is the laughably reductionist take that predictably appears on HN when folks think the dynamics of San Francisco apply everywhere. Housing costs have nothing to do with the Fe
96.
by danhak 6y ago
Housing, healthcare, education and childcare costs matter. I don’t believe CPI is accurately capturing the skyrocketing costs of these things, which are the most significant expenses for most households.
97.
by danhak 6y ago
They rolled out a catastrophically bad redesign of the site, resulting in a mass exodus of users directly to Reddit
98.
by danhak 6y ago
It is nonetheless the prevailing thesis behind BTC, and many highly-regarded fund managers are starting to allocate serious portions of their reserves to cryptocurrency.
99.
by danhak 6y ago
There is close to $1 Trillion worth of bitcoin out there, largely held by futurist / technology enthusiast types. If that's not his target market then who is?
100.
by danhak 6y ago
All large enterprises keep cash reserves. Whether you agree or not, the prevailing thesis behind keeping cash reserves in BTC is not that it will turn a profit, but that it will avoid devaluation like USD.
101.
by danhak 6y ago
Here's my wild speculation on why Musk did this (and why it's brilliant) He knows there is a large and growing community of Bitcoin speculators and enthusiasts out there. By "endorsing" Bitcoin in this way, he not only
102.
by danhak 6y ago
In your hypothetical example, a stock is going up and up, and I suspect it might be fraudulent, and you believe I have no incentive to pull my money out before the house of cards collapses? Getting my money out is all the incentive I need!
103.
by danhak 6y ago
The incentive already exists in the form of long investors doing their due diligence.
104.
by danhak 6y ago
Theranos collapsed without any shorting involved. Isn't this a counterpoint to the argument that shorting is required for "price discovery" and the unmasking of fraud?
105.
by danhak 6y ago
If investors believe shares of these companies are a ripoff, they can sell any holdings and / or abstain from buying. Just like they can do in nearly every other type of market. If a used car salesman is trying to rip me off, I walk a
106.
by danhak 6y ago
The law of supply and demand doesn't require shorting in order to "correct" prices downward. The counterpoint to your Theranos example is the fact that Enron existed too. Both of them were fraudulent. Both collapsed after
107.
by danhak 6y ago
Not symbolic at all. Stock confers legal ownership of a company. Why is ownership of a company's assets any less valuable than ownership of cash dispersed to your personal account?
108.
by danhak 6y ago
No, it's not. Not even close. The current market cap of GME is $25 billion. Meanwhile, the size of the subprime mortgage market in 2008 was in the neighborhood of $50 trillion.
109.
by danhak 6y ago
This is nothing like the size of the bubble (US housing market) that precipitated those crashes.
110.
by danhak 6y ago
This is nothing like the relatively common trading halts imposed by the exchanges under various circumstances—-which halt all trading, not just buying. This is a specific broker—-one with direct financial ties to this trade, by the way—-tot
111.
by danhak 6y ago
Blackouts knock out gas pumps, too.
112.
by danhak 6y ago
Healthcare is tough. There are few markets with more inertia and misaligned incentives than this. With respect to pitching the product directly to clinicians, OP may have misunderstood his target market or overestimated the value propositi
113.
by danhak 6y ago
> Congress is about to impeach Trump (successfully this time, since the Democrats now control the Senate). That’s not how that works. Conviction in the Senate requires a 2/3 majority vote, which is vanishingly unlikely even with De
114.
by danhak 6y ago
Why are you comparing individual stocks to a currency?
115.
by danhak 6y ago
“Let’s have trial by combat!” -Rudy Giuliani, 1/6/2021
116.
by danhak 6y ago
“First they came for the violent insurrectionists, and I did not speak out”
117.
by danhak 6y ago
The issue is that these platforms have grown to monopolistic or duopolistic size, NOT that a private company has the right to sever a business relationship. It’s an antitrust issue, not a free speech issue.
118.
by danhak 6y ago
There’s something very ironic about Parler—-which kicks users off its platform for espousing liberal ideology—-whining about being kicked off other platforms. From their own TOS: > "Parler may remove any content and terminate your a
119.
by danhak 6y ago
> For example, I’d like to understand the defining characteristics of social media platforms that contrasts them from traditional public forums that have existed through history. They are privately held.
120.
by danhak 6y ago
I’m not sure this argument holds in general. For example, you could change your religion and it would still be illegal to discriminate on that basis.

More ›