vgatherps

10 ms·

61.
by vgatherps 4y ago
A legit exchange still has incentive for users to keeps funds on the platform as it makes it easier for the customers to keep trading. Not the most aligned incentive, but it's still there.
62.
by vgatherps 4y ago
Oh to be clear I agree with the OP that they were incompetent/greedy, I just think that missing a CRO is at best a symptom and not a cause. Every single invite to a risk committee meeting should know exactly well what sort of rates ris
63.
by vgatherps 4y ago
I think the risk manager think is a bit of a red herring, outside of pointing towards a culture that didn’t care in the first place. SVB got blown up on a trade that is kind of at the core of what banks do (this is also why every bank is
64.
by vgatherps 4y ago
equity/bondholders are completely wiped out by this process I'm pretty sure
65.
by vgatherps 4y ago
It sometimes feels people really like dunking on those impacted by this especially since there's a lot of schadenfreude about SV and especially the VCs that embarrassed themselves, but I feel like the correct answer isn't "ha
66.
by vgatherps 4y ago
Most people trading USDC aren't creating/redeeming directly with Circle, they're transacting on an exchange where the price is simply determined by supply and demand. Circle can only redeem during bank hours, so almost everyb
67.
by vgatherps 4y ago
Stablecoin providers create/redeem at par, that’s the main mechanism. Algo “stables” like Ust might do it as a sort of bailout but that’s because they aren’t a backed 1-1 instrument.
68.
by vgatherps 4y ago
Backed only implies that the stablecoin creator can redeem 1-1. It doesn't imply anything about whether the creator takes actions on the open market to try and manipulate the price to be at par.
69.
by vgatherps 4y ago
You can do a little bit of math on recovery scenarios for USDC and they imply much better prices than 90 cents. Don't think this means it's a good trade to go buy at 90 cents though. If Circle opens up redemptions on Monday there
70.
by vgatherps 4y ago
Stablecoin provider doesn’t buy up cheap stablecoin: “it’s really suspicious that they’re not buying cheap stables, something’s wrong” Stablecoin provider buys up cheap stablecoin: “it’s really suspicious that they’re supporting the stablec
71.
by vgatherps 4y ago
You very much want to be first out if there’s a bank run, the behavior here is very rational. It’s also what makes having any sign of balance sheet weakness a death spiral, as anyone who knows runs for the exits, making things even worse.
72.
by vgatherps 4y ago
Telling your boss that their special project is a dumpster fire can have very bad career ramifications
73.
by vgatherps 4y ago
Currently living in Hong Kong and the whole “we have to ban <foreign media X> to protect our ’national security’ and citizens from subversive ideas from the scary foreign adversaries” bears a striking resemblance to the national secur
74.
by vgatherps 4y ago
In a loose sense this is the accepted purpose of a degree, not just as an education center (theoretically motivated peers in addition to the teachers), but as a stamp of "we have given you education in X and deemed that you learned&#x2
75.
by vgatherps 4y ago
They asked for examples of non-numpy/tf/had use cases and I gave some including my own experience? No disagreement, HPC Python in practice is heavily biased towards numpy and friends
76.
by vgatherps 4y ago
"That's not programming, that's just calling libc with an unpleasant interface"
77.
by vgatherps 4y ago
Your OS, the linear algebra libraries themselves, much of the user-facing software that you use (latency sensitive rather than throughput sensitive), image/video encoding/decoding, most of the language runtimes that you use, high
78.
by vgatherps 4y ago
Outside cases where Python is used as a thin wrapper around some C library (simple networking code, numpy, etc) 10x is frankly quite conservative. Depending on the problem space and how aggressively you optimize, it's easily multiple o
79.
by vgatherps 4y ago
> If they could produce sound analysis they'd beating the market with it, not posting it online to sell ads. This isn't correct - you can produce very sound analysis of past events, but to make money trading you need predictive
80.
by vgatherps 4y ago
> Sorry, that contains a healthy dose of "trust me, all managers are complete idiots who would rather spend a million on hiring new people than spend 10k on retaining their employees". Empirically this view is valid. The manage
81.
by vgatherps 4y ago
I personally know of a company that is currently in a "well Google did it" hiring freeze. Having said that, the layoffs are not happening in a vacuum, there's been significant economic issues over the past year and cash isn&#
82.
by vgatherps 4y ago
If Python or Javascript are even potential candidates for what you should build something in, it’s questionable whether you should use Rust in the first place.
83.
by vgatherps 4y ago
For HFT you generally just shove the OS out of the way. It exists to provide basic access the machine and for the non-fast-paths, while the hot paths never touch it in the first place. You also aren't hard-real-time, where it's li
84.
by vgatherps 4y ago
> Say that your position is that only arbitraging between GBTC and GBTC on different exchanges is really arbitrage. Well, what if that doesn't converge? There has to be a difference in the first place, and some uncertainty. Assuming
85.
by vgatherps 4y ago
> If it's a permanent profit source, then it can't be an arbitrage either, can it I think you misread me? My claim is that the Gbtc trade Carrie’s plenty of risk, much then anything that would be appropriately described as an a
86.
by vgatherps 4y ago
If it can flip, it’s not really an arbitrage, but a bet that you’ll be able to exit the trade before it does flip or borrow costs kill you.
87.
by vgatherps 4y ago
> I don't think C++ programmers in general are worth chasing. If they stuck with C++ for such a long time, it means they are used to it and accept C++ with all its flaws People don’t use C++ because it’s convenient and easy, they us
88.
by vgatherps 4y ago
Yes, I agree - I didn't mean that the "C++ is a contender" use cases are few, in fact the opposite. Just that I don't see a ton of of professional "We wrote our Postgres CRUD app in Rust for reasons". I'm
89.
by vgatherps 4y ago
I think there's a distinction between people making side projects/posting online and professional usage of rust. There's a lot more Python/JS/etc developers than C++ developers, and Rust meaningfully offers somethin
90.
by vgatherps 4y ago
“Avoid branches” isn’t strictly true in scalar code (and sometimes vector code) - zero folding leads to longer dependency chains, so if your branch is very predictable and doesn’t preclude other optimizations (I.e. vectorizing) the branch c

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