jaredtn

Today, with our archaic system. That's why we need digital currencies.

The parent comment was about enabling micropayments, not the proper price for a song. Forest for the trees...

This is how literally every financial asset works.

If you want to make a customer cash-flow argument, Ethereum has $9B of ARR. Same story.

That data looks at January 1979 to present. I believe ever includes the rest of the 20th century as well...

There was certainly a negative return over 20-year periods including the Great Depression.

And negative real returns during the 1970s stagflation.

Graphics on this need some serious work. Can't tell the difference between a bishop and a pawn. Would love to play it otherwise.

Here is a site that makes it easy to download the GIF: https://www.deviantart.com/minecraftrulz2017/art/Nyan-Cat-HD.... Please let me know when the crash is expected, now that your condition has been met :)

It's considered the same as an in-kind transfer for stocks from one broker to another.

Again, the understanding of "property" is evolving in this environment, and there are areas of regulatory uncertainty (such as synthetic assets from staking collateral in money markets). However, transferring from one wallet to another is pretty safe territory.

For the first question, it depends if you bought the fifty cars for $100 each, or if your basis is less than that. Cost basis is key here. And no to the second question.

The IRS has designed crypto as a property, so you are subject to paying capital gains (or claiming capital losses) whenever you sell, convert, pay or earn. Converting one crypto to another (or to USD) is a taxable event, while transferring BTC in one wallet to another wallet is not (since you keep the same property). Further details at https://www.coinbase.com/bitcoin-taxes#paytaxes.

If you sell a car for more than you bought it for, you do owe taxes on that. https://www.carvana.com/research/2020/03/what-to-know-about-....

Not true. Converting from BTC to ETH is a taxable event, for example.

Quite excited to read this. Murphy does a great job of explaining concepts from first principles.

Agree that today, Ethereum transaction fees are terrible. But I'm quite optimistic for the future. First we have Layer-2 rollups: https://ethereum.org/en/developers/docs/layer-2-scaling/. Even setting sharding and rollups aside, Eth2 and PoS rather than PoW should give a significant boost to transaction throughput. I don't see bitcoin competing in that domain, it's taken on the role of "digital gold" rather than "world computer".

Ethereum is a much better place to build apps and tokens. The ERC-20 standard has been game-changing. Currently 19 tokens at $100M+ market caps, with more to come.

If your coin can be sued by the SEC, then it's probably not decentralized.

Steph Curry is 6'3", in the 98th percentile for height. Wouldn't quite call him short. And there are only ~2,800 7-footers in the world, many of which are in the NBA. So tall players - meaning over 7 feet - are extremely rare.

Thanks, fixed!

This is Berkson's Paradox. Even if coding competition performance correlates positively with job performance in the general population (which it certainly does, given that most people can't code), selecting for this attribute in the hiring process leads to a negative correlation among those hired.

Great write-up by Erik Bernhardsson, CTO of Better, here: https://erikbern.com/2020/01/13/how-to-hire-smarter-than-the....

It was certainly a move to stabilize the stock market and Treasury market. However, having a reserve asset that steadily, stably climbs lower is not a store of value by any definition.

China is no longer a net buyer of Treasuries. They have begun to sell off their position over the last 5 years. And the renminbi is actually quite strong lately, the Chinese government is maintaining positive interest rates and allowing corporate defaults instead of money-printing.

There are two concepts here: medium of exchange and store of value. Currently the US dollar (and Treasury bonds) do both. It's unlikely that the US dollar disappears as a medium of exchange, though there are steps being taken here, such as China + Russia pricing their oil trade in yuan rather than dollars. Yet with M2 money supply increasing 25% in the last year and the DXY crashing by 10%, the US dollar is no longer a reliable store of value.

The larger shift is out of Treasury bonds into different reserve assets, such as commodities (oil, gold, alternative currencies). That one is very real.

Do all technical advances make you feel sad? Why hang out on Hacker News then?

Amazing the pessimism in this thread. Everyone looking for a way to tear them down. This is an incredible success story, and should be an inspiration.

That's exactly my point :) It's not that plastic straws are significantly good or bad - they're a distraction from the real issues. And the fact that it gets any airtime at all is absolutely ridiculous. Certainly distracted you from discussing housing, infrastructure, or crime in your response.

You said it youself: political mismanagement. Make it illegal to build apartment buildings, make it impossible to build good public transit. Ban plastic straws. Refuse to prosecute criminals. Close the safe outdoor parks. Force public servants to pay into a bloated pension system. That's how you reduce the quality of life.

I think he's saying that Google at a certain point in time managed to hire the talented & motivated people. So it can be done, because these companies have done so successfully at points in their past.

Thank you for this!

“GPT-3 has stated an incorrect fact, therefore GPT-3 is unable to truly reason about anything.” - qeternity

Here we see that qeternity has stated an incorrect fact, therefore qeternity is unable to truly reason about anything :)

There is some fascinating work demonstrating generalization on arithmetic problems GPT-3 has never seen before, what do you think about that?

What do you mean by p-hacking? In statistics that refers to running a large number of experiments and taking the one with the best results, but ML trains for hundreds of thousands of steps on a single model.

Can anyone point me to data on the dangers of mask reuse? Masks block droplets from entering, but it's unclear whether those droplets attach to the mask or "bounce off". And if they attach, then it seems like those droplets would eventually be displaced by others. It seems like whatever concentration of particles is in the outside air would also become the concentration of particles on your mask, and thus no more dangerous.

Does anyone have a link for where these books can still be bought? Would love to gift them to younger family members.

Sure the theory is nice, but can I see some empirical evidence? :)