ikeboy

9 ms·

61.
by ikeboy 5y ago
https://news.ycombinator.com/item?id=28798944 Also don't understand what moving the market means in this context. The market is at 1:1 for USDT/USD, if there's selling pressure that would lead USDT to trade u
62.
by ikeboy 5y ago
Why do you think that? They treat USDT as any other coin, has no special status in the system. FTX is very well capitalized. Can you show me even napkin math that shows FTX going under if USDT blows up in a realistic scenario? (Going from $
63.
by ikeboy 5y ago
What is the actual mechanism by which AAVE collapses if USDT nukes?
64.
by ikeboy 5y ago
Very easy to do on FTX or aave for basically as much size as you'd like. Yes, it costs 4-5% a year to short. If it blows up in the next few years you'd make a killing though.
65.
by ikeboy 5y ago
It's very easy to short tether, it costs around 4-5% a year. You can do it directly on FTX, or you can do it on ethereum by borrowing tether on aave against, say, USDC, and then selling it for USDC. You can do this in significant size,
66.
by ikeboy 5y ago
The last link appears to have been published last year and has nothing to do with the lawsuit.
67.
by ikeboy 5y ago
https://news.ycombinator.com/item?id=1719975 discussion from when this was posted in 2010
68.
Facebook is not worth $33B(signalvnoise.com)
9 points by ikeboy 5y ago|1 comments
69.
by ikeboy 5y ago
Here's a list I put together last year of similar sites, I just added Tiny Acquisitions to it. Disclaimer, haven't looked at this in a while, some may be inactive. Marketplace https://microacquire.com/ - SaaS htt
70.
Solidify – tool to automatically detectq smart contract security risks(blog.coinbase.com)
4 points by ikeboy 5y ago|0 comments
71.
What Does a Fact Look Like?(thebaffler.com)
2 points by ikeboy 5y ago|1 comments
72.
by ikeboy 5y ago
The oracle calculated the price to a certain precision, so it rounded down to 0.
73.
by ikeboy 5y ago
Flash loans are not relevant to the uniswap TWAP oracle, which ignore any transactions in the current block. That oracle was written specifically to be resistant to manipulation and I don't think there's any consensus not to use i
74.
by ikeboy 5y ago
For prices you can use Uniswap's oracle which is time weighted average price and can't be manipulated unless you buy a ton of the token over the entire time period. In this case it was using a Sushi swap oracle (uniswap clone that
75.
by ikeboy 5y ago
The main benefit is reducing the incentive for the developers to steal. If you know 90%+ of the funds will disappear before you can do anything then it's much less attractive (where the alternative is making money by fees over time if
76.
by ikeboy 5y ago
It's enough time for most people to exit during normal circumstances. Sometimes longer periods are used. Definitely better than nothing. In this case people wouldn't have been able to exit due to the bug, correct.
77.
by ikeboy 5y ago
There's a timelock where any such changes are delayed by 12 hours. So if they were to submit a transaction that people didn't like, they could exit - this significantly reduces the expected value of trying to steal funds since mos
78.
by ikeboy 5y ago
Fwiw the bug was fixed by submitting a transaction to change the oracle to a new contract that just had a fixed nonzero price for titan. Everyone was able to redeem at roughly 74.6 cents.
79.
Trojan Shield: How the FBI Ran a Phone Network for Criminals(vice.com)
24 points by ikeboy 5y ago|3 comments
80.
by ikeboy 5y ago
Talk about initial investment is not meaningful. Money is fungible. The only relevant question is what the current optimal percentage of bankroll to allocate is given the price and the expectation of future prices.
81.
by ikeboy 5y ago
If there is no shift in expectations, then you should reduce your position as the price goes up, per Kelly, i.e. "take profits". It's a great heuristic. If you wouldn't buy something at the current price, why hold it?
82.
by ikeboy 5y ago
Kelly betting straightforwardly has you reduce your position size as your edge goes down, which happens when the price moves in your favor more than the fundamentals have changed. It's exactly correct.
83.
by ikeboy 5y ago
Yeah I guess, as long as ETH stays around the current level. But if you do hundreds of withdrawals from tornado, it's less anonymous, because the set of people that have deposited that range to tornado is much smaller than the set of p
84.
by ikeboy 5y ago
Yes, up to a limit. It's super trivial to withdraw, say, 1M. You can use https://tornado.cash/ to mix 100 ETH, there's currently around 10k such deposits, so you could do that 2-3 times to move 1M in ETH to an add
85.
Dark.fail Got Hijacked(twitter.com)
11 points by ikeboy 5y ago|1 comments
86.
by ikeboy 5y ago
Of course you don't want the reservation price; a transaction at that price provides no value to you by definition. You prefer a transaction at a higher price to one at the reservation price. Satisfying that preference is valuable.
87.
by ikeboy 5y ago
Price takers still get value, since the price they're taking is above their reservation price. The employer may capture more of the total surplus if they have market power.
88.
by ikeboy 5y ago
To be clear, I object to this sentence as nonsensical: >In a typical transaction, no value is created. As I explained, in typical transactions value is created for both parties.
89.
by ikeboy 5y ago
>The most egregious misrepresentation of value creation in the letter is the $91 billion figure that Amazon has paid out in compensation to employees. This is patently ridiculous. Every single dollar of compensation paid out is done tran
90.
by ikeboy 5y ago
My understanding was that the copyright portion of the suit was over them doing exactly that? Maybe running it in the cloud vs shipping it, but e.g. https://techcrunch.com/2020/12/29/apples-lawsuit-against-cor

More ›