ivalm

49 ms·

571.
by ivalm 6y ago
Baker definitely should sell Bitcoin every time someone buys bread, otherwise they would be taking on currency risk, which is insane. Since they paid for flour/labor/amortized capex in fiat, if BTC price moves down they won’t be a
572.
by ivalm 6y ago
If all your taxes are just wages then you just fill out a two page form (1040). Literally just copy a couple of numbers from your w2 and you’re good. The problem is if you have non-salary sources of income (eg stock, non-employee compensati
573.
by ivalm 6y ago
But inflation isn’t a problem, it’s a benefit. We want people to spend or invest (in production) their money; economy works best when money is actively circulated, not hoarded. The problem with a totally fixed money supply is that as produc
574.
by ivalm 6y ago
Investing money in productive enterprise is the thing that is in societal benefit. Investing money in a virtual asset that has no other benefit and massive ecological costs is not a benefit.
575.
by ivalm 6y ago
If you sell Bitcoin every time you buy bread then you just sell whenever. It will be a large flow of market orders even if there aren’t enough asks.
576.
by ivalm 6y ago
It would be hilarious if the grand-grand op went for “I am an 80 year old bald McK......”
577.
by ivalm 6y ago
Just to further this point. In my group we use several languages (python, java, node) for various services. It is extremely useful to define our spec via openapi and then generate servers/clients that conform to this. We use swaggerhub
578.
by ivalm 6y ago
They are still quantum objects and still have diffraction and such.
579.
by ivalm 6y ago
They still need to decelerate. Even nanomachines will not survive if they hit planets at close to c.
580.
by ivalm 6y ago
If you move slower than 0.1c then you can’t really cross between galaxies (or at least you are limited to very nearby ones). So we only have to worry about grabby aliens in our galaxy AND we can be fairly certain that there are currently n
581.
by ivalm 6y ago
Sure, but printers have mass/volume and require energy. I think in all Van Neumann probe scenarios (which this is) the fact that you bring a micro—replicator that makes other micro-replicators is a given.
582.
by ivalm 6y ago
This kind of assumes that a “maxed out” civilization can expand at speed of light, but I don’t think it is given. It may very well be that meaningfully massive transport cannot exceed even a small fraction of c . After all, propulsion has
583.
by ivalm 6y ago
No. Naked short would be when I sell without borrowing hoping that the stock will drop sufficiently (or new shares will be available for borrowing) that by the time settlement occurs (T+2) I will be able to cover. The “fraud” of naked short
584.
by ivalm 6y ago
Unless the company is trying to do a primary raise, which most companies do only once in a blue moon, the price of the stock is fairly irrelevant to the operations of the company.
585.
by ivalm 6y ago
There is nothing special about being short more than 100%, they short shares that are borrowed multiple times. But it also means the “long” interest is more than 200%. Even if you own equivalent of 100% of float there are still other shares
586.
by ivalm 6y ago
But payment of order flow directly benefits retail traders. They get better spreads because of it. Why would you limit that?
587.
by ivalm 6y ago
Sure, but as far as frauds go it is fairly victimless. Their users were likely winners in the aggregate for using RH
588.
by ivalm 6y ago
I mean the fraud here is fairly eh. They gave a smaller price improvement (but still beat nbbo) relative to other discount brokerages. The lie was that they delivered same great price as other discount brokerages. However, most of their cli
589.
by ivalm 6y ago
Closing without recourse during margin call if you are way below maintenance is normal operation. This is the problem with GME, it is extremely volatile and brokerages don't want to be left holding the bag when the bubble bursts and ev
590.
by ivalm 6y ago
Because they know this will be investigated throughly given the optics and they would be caught in fraud. The simpler explanation is that the current price point is clearly unsustainable and thus shorting GME is a crowded trade. As one fund
591.
by ivalm 6y ago
But there is no reason to think they are lying. They needed $3b to close, they got 2.85b cash bailout, it makes sense that they closed.
592.
by ivalm 6y ago
Again, Melvin publicly disclosed it is out and if they lie about materially relevant facts it is fraud.
593.
by ivalm 6y ago
They need neutrality by end of day per reg. Bid ask spread is wide precisely because it’s super volatile.
594.
by ivalm 6y ago
All 3 Citadel companies belong to Ken Griffin/are related and are unlikely to have meaningful short positions.. The company that is Robinhood's customer and pays for order flow is Citadel Securities, which is the market maker and
595.
by ivalm 6y ago
I'm not saying they aren't shorted, I'm just saying it isn't Melvin. There are lots of people shorting GME when it's priced a large multiple of it's long term value. How this gets resolved given the giant short
596.
by ivalm 6y ago
It was a company announcement material to the fund's prospects, if they lied it would be grounds for a securities fraud suit from their investors.
597.
by ivalm 6y ago
Citadel securities is an MM in this business, they are certainly delta neutral and not short.
598.
by ivalm 6y ago
Melvin capital exited the short position two days ago, the loss is realized. Edit: It was a company announcement material to the fund's prospects, if they lied it would be grounds for a securities fraud suit from their investors. Somet
599.
by ivalm 6y ago
No! But the hedge fund that is Robinhood's largest customer does have very large investments in a different hedge fund that had a large short position that they have since existed. But that exit (and corresponding loss) happened before
600.
by ivalm 6y ago
Market makers fulfill a bunch of orders, they then have until end of day to get into a delta neutral position. They prefer to trade against retail traders because retail traders are typically uncorrelated, which means that vast majority of

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