zodiac

30 ms·

271.
by zodiac 9y ago
It's not even technically attainable for USD. If China places huge market orders for a basket of commodities with USD, USD would lose purchasing power wrt the basket for a short amount of time (I think a few seconds is possible).
272.
by zodiac 9y ago
One of the many aims of US monetary policy is that USD doesn't lose too much purchasing power too suddenly (eg no unexpected hyperinflation). Of course any currency from a decent country would aim for this kind of soft peg. I guess you
273.
by zodiac 9y ago
Author has misunderstandings of what he's criticizing. From the article I suspect he thought the crash was caused by undercollateralization at first before his friend corrected him. His 15 minute attempt to understand the system didn&#
274.
by zodiac 9y ago
If there are thin enough markets of course "always maintains purchasing power" is impossible. This is true for USD ad well.
275.
by zodiac 9y ago
Wow I saw this page first without realising it's him. I remember being blown away by his research, and the fact that they're in separate areas (symbolic execution and exokernels). It seemed like he'd stopped publishing a few
276.
by zodiac 9y ago
It's also nice when the compliment you :)
277.
by zodiac 9y ago
> everyone just treats them the same as American currency and doesn't bat an eye you mean they accept them at par?
278.
by zodiac 9y ago
Thanks - see my reply at https://news.ycombinator.com/item?id=16135718
279.
by zodiac 9y ago
I'm not saying such "extra-protocol" theft of coins is unlikely. I'm saying that it is possible to prevent them (eg I run the key generation algorithm in my head, memorize the secret key, then accept some coins at the pu
280.
by zodiac 9y ago
If that's your definition, I could say that my Bitcoin is backed by mathematics and proof of work because "violating" the rules (by taking my coins without my consent) requires either guessing my secret key or mounting a 51%
281.
by zodiac 9y ago
What precisely do you mean by "The USD is backed by the courts of the USA"? Do you literally mean "if someone takes my USD by force I can sue them"?
282.
by zodiac 9y ago
Becaude you can't observe directly how much every person really values the assert, only the market-clearing price. No serious economist/trader thinks that 5% of the supply can be bought or sold for 5% of the market cap. This is ex
283.
by zodiac 9y ago
As baddox mentioned - gary garrett does this! eg https://www.youtube.com/watch?v=jA1C9VFqJKo I have been wondering for a while if it's possible to show both harmonic and melodic relationships at the same time - garett&
284.
by zodiac 9y ago
There's already a 1401-digit prime that contains the gzip of the source code of DeCSS. He wanted to do more.
285.
by zodiac 9y ago
If P1 plays randomly and P2 plays all rock, then this is not a NE as P1 has an incentive to switch to all paper
286.
by zodiac 9y ago
Any future plans to use stablecoins (eg DAI) instead of Bitcoin for retail payments?
287.
by zodiac 9y ago
> how close the exchanges are tracking each other despite being independent from each other Happens with non-crypto assets too (e.g. forex)
288.
by zodiac 9y ago
You don't even need a protocal change (patch) - a supermajority group of validators (miners or stakers) can censor the minority group profitably, with no way to tell in-protocol. The fact is, all existing blockchain protocols are not c
289.
by zodiac 9y ago
I don't normally read him but yudkowsy's book Inadequate Equilibria was a really good look at how he analyzes "market failures" in society at large. And it's freely available from https://equilibriabook.c
290.
by zodiac 9y ago
Regexes can't be used for parsing (e.g. the language of balanced parantheses)
291.
by zodiac 9y ago
Technically the last two words of your comment are "screw X"
292.
by zodiac 9y ago
All states require you to pay capital gains tax on Apple stock...it must be a currency then
293.
by zodiac 9y ago
Here's one that I found interesting - the Dutch school placement lottery: https://medium.com/social-choice/why-a-dutch-court-stopped-h...
294.
by zodiac 9y ago
I think the necessity for regulation shows that unregulated payment processors leads to market failure (due to the nature of that market under current non-blockchain tech). Regulatuon fixes this market failure, but I see regulation as a las
295.
by zodiac 9y ago
No one's forcing you to use them
296.
by zodiac 9y ago
Could you design a secure PoW scheme that doesn't suffer form this flaw? I don't think you can
297.
by zodiac 9y ago
How is eth "backed" by btc?
298.
by zodiac 9y ago
I think the notice refers to coinbase (where your counterparty is coinbase) not gdax
299.
by zodiac 9y ago
> we tap our Visa card to pay instantly with no fees I hope you mean realize that merchants eat the fee and are contractually not allowed to offer discounts for cash payments. And many of them are not happy about this situation.
300.
by zodiac 9y ago
> because that is what this insane "market" puts value on It is an unfortunate outcome, but how would you change the systems (e.g. capitalism) that produced this outcome?

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