thebean11

10 ms·

61.
by thebean11 4y ago
Held by Circle and Coinbase in T bills I believe. edit: more likely held by some holding company controlled by those two companies.
62.
by thebean11 4y ago
Or is being 0.1% below peg causing large redemptions? People buying USDT at a discount and redeeming at face value.
63.
by thebean11 4y ago
I think it's significant, there must be tons of full time employees who are checking tickets, selling tickets, doing maintenance on machines, administering subsidized fare programs etc. I don't think it's 25% or anything, but
64.
by thebean11 4y ago
> Farebox recovery ratios in Germany before Covid were around 75 %, so abolishing all fares would mean quadrupling the budget for operating subsidies You aren't taking into account the money saved from eliminating all the infrastruc
65.
by thebean11 4y ago
It's completely different, OP still owned the BTC, it was just collateral to a loan. The loan currency was presumably USD, so they were short USD but still long BTC.
66.
by thebean11 4y ago
> Sales of affordable houses under $250k are down 30% YoY ..because those houses are selling for over $250k now?
67.
by thebean11 4y ago
To quibble even more, it's much harder (legally) to take away unvested RSUs than it is to demote / reduce salary.
68.
by thebean11 4y ago
Coinbase isn't paying $380k base either..are you just quibbling over the meaning of salary?
69.
by thebean11 4y ago
Oh wow really? I figured they had a domain specific language to program the card interactions. Pretty cool they can parse the text directly.
70.
by thebean11 4y ago
EDH less so though due to the bigger deck size and 1 copy per card limitation. This means you end up with bigger groups of cards with common synergies vs specific sets of cards you need to draw in regular 60-card.
71.
by thebean11 4y ago
Magic the Gathering cards have pretty standard and predictable wording and keywords. Not sure it could understand everything, but there would be easy patterns that apply to hundreds or thousands of cards.
72.
by thebean11 4y ago
A blog post to not run afoul of SEC regulations? I don't think so..they could easily bring this up at earnings.
73.
by thebean11 4y ago
> the people whose economic activity currently backs the speculate value of these coins play by a different rulebook entirely I guess this is where I don't know what you mean, specifically
74.
by thebean11 4y ago
How would you verify that something was sold outside of a blockchain? The receiver of the item would need to prove it's in their possession, which is pretty easy on BTC. I guess I'm not sure how you get from that to privacy only b
75.
by thebean11 4y ago
> Institutional actors are transacting via backchannels. As in, they are keeping funds on centralized exchanges? Users can do the exact same thing if they want, not sure I get your point.
76.
by thebean11 4y ago
Why can't non-institutional actors achieve the same level of privacy? Seems like it would be much, much easier for smaller actors since they are dealing in much smaller amounts..
77.
by thebean11 4y ago
Volume of ads is irrelevant. An additional tweet to attach an ad to does not generate revenue if there is nobody looking at it. On the other hand, though, an additional set of eyeballs on an existing monetized tweet does generate additional
78.
by thebean11 4y ago
I believe bitfinex treats USDT as USD meaning if you deposit dollars via a bank account you receive USDT and vice versa
79.
by thebean11 4y ago
I guess people are withdrawing USDT to USD on bitfinex, so bitfinex needs to redeem USDT? Is there another obvious explanation I’m missing?
80.
by thebean11 4y ago
That’s surprising, watching those shows did not make me interested in going even a little bit
81.
by thebean11 4y ago
That doesn't make sense. The black market (being illegal) would have significantly higher risks and transaction costs, so even with arbitrage the prices could still be significantly different.
82.
by thebean11 4y ago
Coinbase and Circle were certainly able to pull off both steps for USDC. They require KYC to purchase USDC from them, or redeem USDC for USD. USDC can be traded on the secondary market without KYC.
83.
by thebean11 4y ago
Or it's just the result of a massive increase in volatility in the crypto market in general. I guess it depends what you mean by increased stress on tether.
84.
by thebean11 4y ago
The ETH burning is easy to quantify: https://watchtheburn.com/ Currently there are inflationary block rewards so the net may still be ETH creation (depends on the day). That will change after the merge when inflationary rew
85.
by thebean11 4y ago
To some extent it does. The person moving money is paying transaction fee in ETH creating demand for ETH. Additionally, a part of that transaction fee is burned (permanently deleted) creating a deflationary effect on all other ETH.
86.
by thebean11 4y ago
Yeah that's true in practice but I think a lot of new tech was in the same boat. The first cars were much worse than horses to use an old example
87.
by thebean11 4y ago
Sure, the point is there's a difference between: "this system is currently costing more than it is producing" vs "this system, by definition, is negative sum" The first is a comment on the current state of the thing
88.
by thebean11 4y ago
I'm talking about value created for users of the network, not token holders miners or stakers. Let's say I use the network to send $5k to a relative in another country and this transaction costs me $1. If I otherwise would have pa
89.
by thebean11 4y ago
> Second, proof-of-work currencies are negative sum Assuming the network doesn't produce external value to the people transacting on it (for example, lower transaction fees than alternatives, lower cost to enforce contracts, lower s
90.
by thebean11 4y ago
People used to say this would happen at $1. Bitcoin price crashes every few years but so far it has bounced back higher.

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