lottin

27 ms·

301.
by lottin 4y ago
Bitcoin is neither deflationary nor a currency.
302.
by lottin 4y ago
I have a strong reason to think that consciousness and intelligence are related. Intelligence requires awareness. Consciousness is awareness of oneself. I for one cannot imagine an intelligent being that does not possess consciousness.
303.
by lottin 4y ago
> If you commit a US crime with a dollar held overseas, you still fall under US jurisdiction. This sentence doesn't make any sense.
304.
by lottin 4y ago
Aren't decentralized exchanges unable to handle real money? And therefore somewhat (if not completely) useless for the purposes of buying and selling crypto-currencies?
305.
by lottin 4y ago
Nobody is on board with crypto. And while governments can't shut it down, they can strongly discourage people from putting money into it, by simply enforcing existing regulations, which is what I think governments will start to do now
306.
by lottin 4y ago
So he basically predicted "high inflation". He's been predicting that since at least 2010, probably earlier. Over a long enough period there is bound to be some episode of "high inflation", so sooner or later the
307.
by lottin 4y ago
It's not just banks, this is how limited liability works.
308.
by lottin 4y ago
Also Alex Gladstein, maybe the most hideous of all crypto influencers. The man is promoting this trash under the guise of human rights advocacy.
309.
by lottin 4y ago
Not so much protecting you, but ensuring a fair playing ground. If crypto is "finance", then it has to be subject to financial regulations.
310.
by lottin 4y ago
Interest isn't just compensation for risk. It's also compensation for temporarily giving up control of your money.
311.
by lottin 4y ago
> Balaji has made more than a Million $$$ through this bet So has he sold his bitcoins? Otherwise he's made nothing but paper profits that can evaporate at any time.
312.
by lottin 4y ago
I didn't bookmark them, but I recall comments from ten years ago predicting that 50% of the workforce was going to be replaced by AI in the next ten years. Fast-forward to "the future" and the reality is AI has left without
313.
by lottin 4y ago
Of course, because music can be performed. People will pay to see a live performance, which means music performers aren't entirely reliant on selling recorded performances. Live readings, on the other hand, don't attract large c
314.
by lottin 4y ago
Banks make money from loans. A bank that didn't make loans would have to make money from deposits by charging a large fee to its depositors, and compete for deposits with other banks that don't charge a fee.
315.
by lottin 4y ago
We've already figured out a way to compensate creators for their work—it's called copyright. You say you don't like it, but you don't propose any alternative either, which makes you sound like an entitled brat.
316.
by lottin 4y ago
Who's paying the bill? Are they benefiting depositors at the expense of other creditors? Not clear from this press release.
317.
by lottin 4y ago
Both rely on an "oracle" so probably not decentralised at all.
318.
by lottin 4y ago
I was answering your question: "The percentages [of dangerous assets that they hold] don't matter." But apparently the answer went over your head. Never mind.
319.
by lottin 4y ago
The job of any bank including SVB is to manage financial risk. If they can't do that, it means they can't do their job, and they deserve to go out of business.
320.
by lottin 4y ago
It's an estimate. https://en.wikipedia.org/wiki/Estimation
321.
by lottin 4y ago
The percentages don't matter. Banks set aside a certain amount of capital for the only purpose of absorbing losses. A bank that is well-run will have allocated the right amount of capital in proportion to the risks that it has taken.
322.
by lottin 4y ago
Which goes to show there's no such thing as a decentralised stablecoin, since they're all backed with other stablecoins that aren't decentralised.
323.
by lottin 4y ago
> It's people who leave their money on crypto exchanges that lose their coins. People who hold their own coins lose them as well. It was estimated that 3.7 million bitcoin have been already lost irreversibly [1]. That's a sta
324.
by lottin 4y ago
I work in a bank and it's kind of fun.
325.
by lottin 4y ago
No, the costs incurred in providing a service is exactly what needs to be quantified in order to determine whether the provision of that service is profitable. If you insist that the contractors must be excluded from the analysis (for some
326.
by lottin 4y ago
I don't know if it's relevant, I think it's interesting, to me at least as an economist, to ask these questions. What you do with this information is up to you.
327.
by lottin 4y ago
Good heavens. The contractors are the network. If you leave the contractors out there's nothing left. There's no network. The network doesn't take payments. Contractors do. Other than that of contractors, there is no
328.
by lottin 4y ago
Seriously, this isn't rocket science. Ethereum provides a service, namely it stores data and does some computations in exchange for a fee. Ethereum users pay a fee and in return they have their computations done. By definition, Ethe
329.
by lottin 4y ago
So the cost of storing all the data and doing all the computations is only $5k/day? Where do you get that from, if I may ask?
330.
by lottin 4y ago
If fees are thrown away you can't count them as revenue. Also, still no mention of costs.

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