pishpash

18 ms·

331.
by pishpash 3y ago
ChatGPT already does this after alignment, it barely "knows" anything these days.
332.
by pishpash 4y ago
A (classical) analog computer is not a quantum computer and various conjectures on complexity say that they should all be efficiently (polynomial-time) simulated by a probabilistic Turing machine.
333.
by pishpash 4y ago
Parent didn't say electrons move slowly. Parent said electron flow is slow which is true. The article tries to say that in that average there are fast-moving parts and slow-moving parts. Fine.
334.
by pishpash 4y ago
Those kinds of classes aren't for building ML applications but for understanding all the ideas behind ML, even historical ones, for broad theoretical coverage. Parts of current methods were considered "obsolete" for a good 20
335.
by pishpash 4y ago
It is a matter of degree. GPT-4 may, for various reasons some of which are artificial handicaps, have only a weak grasp of a board representation now. But if it has any such representation at all, that's already a different story than
336.
by pishpash 4y ago
Why wouldn't they? Text-moves of Othello games are presumably a subset of the training data for a general LLM. If anything the general LLM has the chance to derive more robust internal world representations given similarly laid out boa
337.
by pishpash 4y ago
That's just asking for their API to be implemented by some bot. Not sure they really get to keep their job.
338.
by pishpash 4y ago
How does this work exactly? What is ChatGPT doing for you?
339.
by pishpash 4y ago
You got it backwards. People want to export to the US in exchange for dollars only if dollars are worth something. If the dollar won't hold its value well enough people will find other markets and hold other currencies.
340.
by pishpash 4y ago
No it can't. It's pretty near the end. The world is actively moving away from dollars if you paid attention.
341.
by pishpash 4y ago
Those consequences are a soft form of default. They played some word games and turned hard defaults into soft defaults. Great?
342.
by pishpash 4y ago
Then they would immediately start a run toward Treasuries.
343.
by pishpash 4y ago
I do think it's somewhat clever. It basically lets the private banking sector control the pace of QT. If liquidity dries up somewhere in the system it does a one-year targeted QE.
344.
by pishpash 4y ago
I understanding this perfectly well. Every bailout was monetized in this way. Nobody paid a special assessment on the tax form called "bailout". Doesn't change the fact that they will be paying and this is happening again. Al
345.
by pishpash 4y ago
It wipes out losses accrued up to March 12, 2023 on eligible securities, for one year. It's taxpayer funded. Terms are super generous: only a 10bp premium. It's at least a bailout for one year. It may or may not get extended.
346.
by pishpash 4y ago
That wasn't what I was asking. I wanted to know how the ESF is funded. It looks like it is taxpayer money, insofar as it comes from budget appropriations.
347.
by pishpash 4y ago
"The Department of the Treasury, using the Exchange Stabilization Fund, would provide $25 billion as credit protection to the Federal Reserve Banks in connection with the Program." Where did the Treasury find this $25 billion?
348.
by pishpash 4y ago
> no reason of my own Other than giving your 97% uninsured money to a place without checking its financial situation and pretending you're not just another creditor.
349.
by pishpash 4y ago
Those are not the terms of the BTFP. Nowhere does it say that to access this facility you must go under FDIC receivership and wipe out shareholders and bondholders.
350.
by pishpash 4y ago
Weren't these 10-year bonds and negative-convexity MBS? 12 months doesn't improve the position at all, but maybe you can keep applying for these loans in which case it's just another QE.
351.
by pishpash 4y ago
It's a plausible position to take.
352.
by pishpash 4y ago
What I was going to say. Turns out these are safer than banks. In fact why do people use banks at all if they don't need branch services?
353.
by pishpash 4y ago
10% really is not enough to compensate for the uncertainty around Circle's commitment, whatever that is. More like be greedy when you have insider information.
354.
by pishpash 4y ago
Vultures are offering 60%-80% on SVB-held funds, so that's where they expect recovery to be at.
355.
by pishpash 4y ago
Crypto first, tech second, then crypto/tech intermediaries, then exposed regional banks, then funds and general banks, etc. etc.
356.
by pishpash 4y ago
You must not know that the Federal Reserve returns income to the Treasury.
357.
by pishpash 4y ago
That one post seems to say, too bad, you die but it's for a good cause because two other people didn't die in a car crash.
358.
by pishpash 4y ago
But it costs the taxpayer money that way via the interest payments, whereas one more regulation doesn't.
359.
by pishpash 4y ago
Reserves are but one tool in the arsenal and it's also for tightly managing the maximum leverage. If all your assets are not cash-equivalent and they fluctuate in value then there is no maximum leverage that can be guaranteed a priori
360.
by pishpash 4y ago
Just treat these leveraged entities like SEC would have brokerages treat margin accounts. There are different leverage ratios counted depending on the risk of the position and if you don't maintain margin you get called and liquidated.

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