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triangleman

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Reading Matt Levine's latest column on this CBDC was sort of mind blowing. With a truly centralized digital currency the Fed would basically monopolize all bank deposits (why store money in the bank at all when your digital wallet is perfectly safe) and destroy the entire banking sector.

So they are forced to decentralize the currency to some extent, so that banks are the ones to actually issue the currency (after borrowing it from the fed).

Frankly that is the best case scenario for crypto. It's similar to the dot com bubble in 1999 actually, it's 20 years later and the internet is finally somewhat useful and intergrated into our lives. Originally it was just a bubble inflated with ad revenue inflated with investor money

There's some detail on weth.io. apparently ETH is not Ethereum (ERC-20) compatible, if you can believe it.

I'm still kind of confused how ypu go from one ERC-20 chain to another. I know there's wrapped Ether on other chains but I'm not clear on how it got there or whether it's a good idea to hold that. Seems like a "not my keys" situation in a way.

So, could the Ethereum community get together and agree to rewrite the blockchain and undo this transaction? Perhaps they could vote on it and have a hearing of the facts. Of course that introduces its own tyranny but is it possible?

You have the right personality for work-from-home. There are others who need that social interaction in order to be productive.

When I was in the office, most developers had headphones on when working and you wouldn't interrupt them at that time.

I definitely agree that if you're in the kind of role where you can turn off notifications and just put your head down and work, this has probably been a very productive year.

It used to be that you could not IPO unless you were profitable, and furthermore the point of an IPO was to raise money needed to fund growth. But today these companies have raised enough money from VC's that they don't need any more from the public markets. By listing shares and letting these insiders sell, there is more limited supply and great demand, so they can sell tiny stakes for inflated prices. It's really great for VC's and other insiders.

Yes, in the long run the economy is driven by productivity growth. However there are debt cycles at work:

https://economicprinciples.org/

The world may be near the end of a long-term debt cycle, we will have to see.

In 1996 PE multiples were indeed high and there was indeed a correction. For instance the Nasdaq went from 1300 at the end of 1996, to over 5000, and back to 1300 in 2002. There was obviously productivity growth over 7 years, but valuations are another thing entirely.

The best analysis is always against the company itself:

- SBUX instead of buying Starbucks

- MO instead of buying cigarettes (see The Millionaire Next Door for this analysis)

- LVMH instead of buying LV, M, or H

- NVDA instead of buying video cards and AAA games

- CVS instead of shopping at convenience stores

Somehow with ublock origin on firefox mobile, my google images search links directly to the original image. It's glorious.

I would also probably buy said malicious actors a beer if I met them, accompanied by a high five.

You would, would you? Thousands of individuals who by and large wanted to try out a competitor to Facebook ended up getting their personal details downloaded and leaked (and we're talking about very sensitive details here), and you're going to buy a beer for the criminals who did this? I assume before you turn them into the authorities for their 10-20 year sentences?

I found a decent analogy for what I'm talking about:

https://www.history.com/news/beanie-babies-value-criminal-ac...

With a bubble in Beanie Babies there was accompanying fraud and other criminal activity, with most consumers not wittingly participating, but they were affected by it.

So with the asset bubble of the 2000's, this kind of behavior affected everyone, as everyone needs a house.

In another thread I have said I don't blame the masses who may have made bad decisions in hindsight, as they did not have access to all the relevant information. So I do blame the fraudsters, but in the end I really only blame the Fed for keeping interest rates too low, and of course that can circle back around to society as well if you like.

https://youtu.be/d0nERTFo-Sk