kajumix

8 ms·

31.
by kajumix 3y ago
His original thesis on Bitcoin as expressed in his NYT article "Why Bitcoin Matters" [1], is still very compelling. His later obsession with shitcoins is quite misguided, I agree, but not enough to compromise all of his credibilit
32.
by kajumix 3y ago
Imagine us humans being merely regression based function approximators, built on a model that has been training, quite inefficiently, for millenia. Many breakthroughs (for example heliocentricism, evolution, and now AI) put us in our place,
33.
by kajumix 4y ago
It's sad that to think that a human's worth is defined by their job.
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by kajumix 4y ago
Read books, write poems, go skiing? Instead of agonizing over how to provide the means of living, actually start living?
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by kajumix 4y ago
Benefits of innovation start with the privileged, but invariably end up benefitting the masses. Cellphones once were once available only to the rich. Poor people have smart phones now.
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by kajumix 4y ago
Cost of products made solely by machines will approach zero. If machines take all the jobs, humans will live like aristocrats. Imagine telling farmers 200 years ago, that 95% of the humanity won't be farming at some point. Imagine them
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by kajumix 4y ago
If AI automates software creation, which automates everybody else's job, why does it follow that a "massive percentage of the economy would be wiped out?" What is so undesirable about productivity going up by a factor of a 10
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by kajumix 4y ago
Some blame our divorce from sound money as the cause. This website is very insightful: https://wtfhappenedin1971.com/
39.
by kajumix 6y ago
"LN also requires a constant observation of the LN network or malicious actors can just take more from a channel than allowed." Not true. Cite a source.
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by kajumix 6y ago
High volatility is due not to supply, but to the trading volume. Like Taleb said, there is no long-term stability without short-term volatility.
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by kajumix 6y ago
I will cheer for the success of ETH2 as well. The reason I like Lightning better is because the engineer in me wants to freeze the base layer and do the experimental layers in isolation. Internet infra is all layered for good reason.
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by kajumix 6y ago
The anti-BTC sentiment on HN puzzles me. There is no intelligent critique. The doubts that are endlessly repeated here have been addressed in detail, and are available online. Scaling and transaction throughput, energy consumption, state at
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by kajumix 6y ago
Bitcoin disrupts central bank, not payment networks. Lightning [1] as layer 2 on top of Bitcoin adheres to trustless and p2p ideals, and is actually the competition for Visa. [1]: https://lightning.network/ Edit: added link
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by kajumix 6y ago
"We could do something called the American Equity Fund. The American Equity Fund would be capitalized by taxing companies above a certain valuation 2.5% of their market value each year, payable in shares transferred to the fund, and by
45.
by kajumix 6y ago
Two google searches take as much energy as it'd take to boil one cup of water. Online porn consumes 6 million kWh [1] yearly. We ignore areas where energy cost is diffuse, which is not the case with bitcoin that is so objectively and t
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by kajumix 6y ago
If they executed a 51% attack, it will most likely result in a hard fork. Every full node would be able to tell where China branched off. We'll have BTC and BTC-China, with their individual markets. Keep in mind that while China has th
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by kajumix 6y ago
Agree. SEC trying to "protect" people disincentivizes personal diligence. There is a broader societal problem here. Think fake news. People have been conditioned to the existence of gatekeepers everywhere, relieving them from any
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by kajumix 6y ago
> Its not monopolizing diligence, its setting a floor for diligence for investments by people outside of (expanded by this action) pool of investors. The floor just happens to be very close to the ceiling excluding many people with varyi
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by kajumix 6y ago
The limits to how far a government should go to protect sane adults from themselves are arbitrary, and inevitably end up stifling progress. Any regulation in crypto space will be damaging so early in the game. A Darwinian wiping-out of inco
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by kajumix 6y ago
While SEC has "good intentions" behind regulations around who qualifies to invest, and also behind forcing companies to disclose certain financials if they are open to public investment, it is in a sense monopolizing the service o
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by kajumix 6y ago
There appears to be a disturbing consensus here that YouTube HAS to moderate. Why? If YouTube isn't held responsible for the content, and are treated merely as a carrier, you can imagine layer 2 filtering businesses emerge, if YouTube
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by kajumix 6y ago
A large company generally has more money. I work for a faang, and appreciate that it doesn't take much to spin up big ec2 clusters as personal sandboxes, get licenses for pricey productivity software, fly out to conferences, or take co
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by kajumix 6y ago
Fair. Although, my point was to suggest checking the tendency of rushing into legislation. Laws are discovered, not made.
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by kajumix 6y ago
A policy or law that enforces a certain behavior that contradicts culture, would, by definition be undemocratic. A policy or law that enforces a certain behavior that is already present as a strong cultural norm, would be redundant.
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by kajumix 6y ago
"I’ve heard some suggest that the recurrent problem of racial bias in our criminal justice system proves that only protests and direct action can bring about change, and that voting and participation in electoral politics is a waste of
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by kajumix 7y ago
It's an interesting analogy. Instinctual human response is in a way letting nature take over, and suspending analytical thinking. Govt policy making and intervention is more akin to latter, wouldn't you say?
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by kajumix 7y ago
> Just look how it's impacting the local health care system. If it exceeds the capacity by X % that's how big a problem it is. Ok, let's look. There are 1175 serious/critical cases in the US [0]. I assume all of them
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by kajumix 7y ago
How do you imagine this could be done? Is there an inexhaustible repository of "scientifically important problems" that can be solved every 10 minutes by some computing entity, and whose difficulty is adjustable -- a function of a
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by kajumix 7y ago
I think 'exit' (as opposed to 'voice') is an underrated strategy in this case. I have heard of many people being consumed by lawsuits, drawn out conflicts, wasted lives in pursuit of correcting a wrong, driven more by eg
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by kajumix 8y ago
How effectively would they able to enforce this? Aren't those nodes precisely designed to evade detection? I perversely welcome such surmountable hindrances to liberating technology -- it feeds the antifragility of the target

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