thr0wawayf00

8 ms·

31.
by thr0wawayf00 4y ago
Problem is that exchanges are getting caught fudging their "proof-of-reserve" reports. Crypto.com just got called out for "accidentally" sending $400M to a rival exchange that used the balance to prop up their reserve re
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by thr0wawayf00 4y ago
Not sure why you're being downvoted, I think this is a fair question to ask. Crypto was founded on the notion that central banks were inherently corrupt and that we needed to establish an alternate financial system free from the power
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by thr0wawayf00 4y ago
> But at the risk of coming across arrogant, I don’t care for crypto or anything related to its celebrity frontmen. > Perhaps he’ll reconsider and write about something else entirely. Idk why people insist on authors only writing stor
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by thr0wawayf00 4y ago
Maybe I'm just a cynic, but I find the community's pursuit of this individual's identity pretty interesting given the pro-privacy stance of crypto. Everyone cares about privacy until a crime is committed, and then we all want
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by thr0wawayf00 4y ago
> isn’t that because we’re getting healthier and healthier? Not necessarily, just look at the obesity epidemic. 40% of Americans are now obese. Not overweight, obese. Our society has tackled large scale public health issues that used to
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by thr0wawayf00 4y ago
Anyone who watches Silicon Valley and uses it as a blueprint to start a successful VS firm deserves to keep that money, tbf. That show is a straight up mockery of the tech world.
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by thr0wawayf00 4y ago
And there's no mechanism in place to prevent corporate centralization from being built atop those blockchains. It doesn't matter what they we or were not created to do, it's that the flexibility permitted within them exposes
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by thr0wawayf00 4y ago
> You shouldn't call it "losing 5%," BTC price is not an exchange rate, it's a measure of exchange volatility with an integral component tracking trust in ECC, network availability. No, I'm talking about the exch
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by thr0wawayf00 4y ago
Yes, fiat currencies are inflationary and not a good long-term storage of value. > Wouldn't the lack of trust in fiat currencies drive the price of Bitcoin too? Only if the market believed that bitcoin is safer than fiat currency (w
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by thr0wawayf00 4y ago
The bit about him playing League of Legends during a meeting with Sequoia reads like something straight out of Silicon Valley.
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by thr0wawayf00 4y ago
> And doesn't it still hold the promise of a parallel peer-to-peer non-inflationary currency, suitable for self-custody, which is totally orthogonal to the meltdown of a cryptoexchange? The meltdown of FTX is not orthogonal to bitco
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by thr0wawayf00 4y ago
> A couple a weeks ago I did a wire half way across the globe. It took almost 7 days for the money to arrive. With bitcoin? 60 minutes. Ignoring the week-long wire detail (which deserves an explanation because that doesn't resonate
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by thr0wawayf00 4y ago
Exactly right, and this is crypto's fundamental problem. Say you have a small group of people who are all on the same page about what crypto is and how it should be integrated into society. Then another group comes along and recognizes
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by thr0wawayf00 4y ago
Maybe, but the regulation would inevitably come with changes that probably turn a lot of crypto folks away. An FDIC-style framework, for example, would require exchanges to submit regular audits. The key difference between this and the proo
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by thr0wawayf00 4y ago
But why did he fight so hard to back out? I just can't understand why someone with a grand vision for Twitter puts in an offer in April and spends the next 6 months and millions on lawyers fighting to get out of the deal.
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by thr0wawayf00 4y ago
Then why did he fight for months and months and ostensibly spend millions in legal fees to back out of the deal? I just can't square that with him truly wanting the platform. If he wanted it from the beginning, the acquisition would&#x
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by thr0wawayf00 4y ago
No idea, but he seems like the kind of guy whose ego can't suffer from the embarrassment of being called out. It wouldn't surprise me at all if he did all this just because he was incapable of losing face for acting like an idiot.
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by thr0wawayf00 4y ago
> I keep thinking it'd be much cheaper for Elon to have paid to build an entirely new Twitter that has the features he's looking for. It'd be even cheaper if he had the sense to not play chicken with Twitter's board o
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by thr0wawayf00 4y ago
According to leaked email on CNBC, Musk said that Twitter needs 50% of its revenue to be subscriptions in order to surivive: > That is why the priority over the past ten days has been to develop and launch Twitter Blue Verified subscript
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by thr0wawayf00 4y ago
Certainly major currencies have experienced periods of deflation (i.e. the Great Depression, the Great Recession, etc.). But deflation is a sign of weakening economy as well. There's an obsession with inflation, but the reality is that
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by thr0wawayf00 4y ago
> History is more on the side of it happening than not. Is this true? Of all the years that various countries have used traditional fiat currency, has debasement happened more years than it hasn't? I don't think so but I'm
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by thr0wawayf00 4y ago
> Witness LTCM, Web bubble, Subprime crisis, all fueled by banks willing to lend and overextend themselves beyond margin. This was addressed under Glass Steagall by creating the FDIC and ushering in the fractional banking system, which k
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by thr0wawayf00 4y ago
I love a lot of the innovation going on in the healthcare digital space wrt apps, but this NightWare service reminds me of Sleep.io, which has become a nightmare to try to procure. I've been trying for months to get on Sleep.io as I su
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by thr0wawayf00 4y ago
Exactly, it's bizarre to read about the wildcat banking era in the US and why the Fed was created while simultaneously looking around at the rate of mainstream crypto scams and institutional failures nowadays. The Fed sure isn't w
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by thr0wawayf00 4y ago
Because they don't make as much money that way. History has repeatedly shown us that asking companies to voluntarily forgo profit-earning opportunities does not work. Companies exist to make money and this why regulators like the FDIC
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by thr0wawayf00 4y ago
This is the exact same kind of moralistic thinking that created the opioid crisis. 40% of adults in the US are obese. Not overweight, obese.[0] Not to mention, that study was conducted before the pandemic, it would be interesting to see whe
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by thr0wawayf00 4y ago
> the problem lies entirely somewhere else -- in our ability to self regulate. Of course we have a problem with self-regulation. A billion-dollar industry exists whose main goal is to make certain foods more addictive, and yet as a socie
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by thr0wawayf00 4y ago
> It is great (transformative even) for people in these roles to be able to take perspectives of the other roles. That's pretty much the point of the piece, and I disagree, one can't truly gain the perspectives of other roles u
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by thr0wawayf00 4y ago
The fragmentation of streaming services often conflicts with what consumers want to see. Spotify is a centralized service and people love it. That's basically what consumers want, a Spotify for TV. The other issue with all of these str
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by thr0wawayf00 4y ago
I'd happily pay a monthly fee for something like an integrated dash cam instead of trying to figure out how to mount an external camera that messes with my car's LIDAR. There are so many opportunities to build value-added services

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