dmak

15 ms·

121.
by dmak 4y ago
That's right, they are not crypto. They are exchanges. They operate very similar to stock exchanges except the asset classes they operate around are different. People pointing at crypto's failure right now would be equivalent to T
122.
by dmak 4y ago
I agree regulations is good and I am for it. However, all of your comments are just pointing a finger at cryptocurrency as the cause of the issues here when it's not. Your arguments might be valid in other discussions, but your premise
123.
by dmak 4y ago
The issue wasn't cryptocurrency itself though. The issue was that FTX was investing into companies and they were essentially trying to run a fractional reserve against their own client assets. Those issues would happen regardless of th
124.
by dmak 4y ago
Agreed to everything you are saying. I think the issue I have with most comments here is that they are misinformed of the issues and are just pointing a finger at the asset class even though it wasn't the cause.
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by dmak 4y ago
To be fair, FTX isn't a result of crypto being unregulated. Operating an exchange is regulated to some extent, but this is a story of failed corporate governance amongst many other things.
126.
by dmak 4y ago
I am unsure if you are knowledgable about the situation with FTX given your comments. However, I do want to hear your opinion. Could you share what was broken about crypto in this FTX case?
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by dmak 4y ago
I think your comment is a bit misinformed. Your reply is written as if crypto itself failed when it was the exchange that failed. They took client assets and re-invested into other companies which also serviced retail investors. This collap
128.
by dmak 4y ago
> Contagion is a poor word > "Contagion" suggest completely innocent players getting affected and dragging others. ??? That is what is happening in the FTX saga... What are you talking about?
129.
by dmak 4y ago
Thank you, and that part is covered, but I am not sure how I could replace Google Login if I point to a different provider.
130.
by dmak 4y ago
I have had GSuite with my domain for 10 years, so theres a lot of emails and apps that I used with Google auth. I always worry about what might happen if something out of my control on Google's end locked me out.
131.
by dmak 4y ago
Wow thats cool!
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by dmak 4y ago
It was kicked off be someone leaking the balance sheet, but no prior audits and due diligence from ventures were able to discover it.
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by dmak 4y ago
Serious question. Why didn't accounting help discover the solvency issues for FTX?
134.
by dmak 4y ago
But this isn't a budgetary issue, it's a compliance issue which is why they are paying for it. What's your point?
135.
by dmak 4y ago
Could you go over the woke thing in more detail? I thought it was a positive change based on the fandom.
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by dmak 4y ago
Were they not impacted by the pandemic?
137.
by dmak 4y ago
Disney content is already suffering in quality and is noticeable already. Boba Fett was terrible.
138.
by dmak 4y ago
> but doesn't remove weight from the decision. Why? They can still use it, but under the non-free version which is under the necessary compliance.
139.
by dmak 4y ago
Title seems misleading. It seems they didn't actually pay that much. "However, all this data and processes need to happen on a server and, of course, we used AWS for it. A few years of growth later, we’re handling over 70,000 page
140.
by dmak 4y ago
> I am saying that perhaps those companies succeeded in spite of him. Wow really? You would really prefer to entertain speculative realities instead of just give credit where it's due? That's impressive.
141.
by dmak 4y ago
You can follow transactions on the blockchain, but the question is if you can tie that wallet to an identity. If the last wallet belongs to a CEX then it's likely they know the identity of the owner due to KYC regulations. Tornado Cash
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by dmak 4y ago
What's your question about crypto?
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by dmak 4y ago
What theory are you talking about? are you referring to GME related discussions?
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by dmak 4y ago
I just see github as a productivity tool like a kitchen knife and I wouldn't flex my kitchen knife. I would flex my products though which is like the food I make as a result of the kitchen knife.
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by dmak 4y ago
Feels weird to be flexing github followers on a business card especially since github is less about social influence.
146.
by dmak 4y ago
Great analogy!
147.
by dmak 4y ago
I think you are missing context. FTX was supposedly FDIC insured until this came out this year: https://www.cnbc.com/2022/08/19/crypto-firm-ftx-receives-cea...
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by dmak 4y ago
It was never FDIC insured: https://www.cnbc.com/2022/08/19/crypto-firm-ftx-receives-cea...
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by dmak 4y ago
Your arguments are very misguided, long, rambly, and often digresses. It's hard to decipher your points and it is very exhausting to read. Would love to have discourse, but your points need to be shorter, concise, and clear.
150.
by dmak 4y ago
That was a lot lower level than I expected. I like how humbling it is to see such deep dives in areas that I would not know how to debug.

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