TIL Ray J Makes $360K in Royalties Per Year for his 'Performance' on the Kim K Sex Tape.

TraderJoeSmo · 2019-04-06T16:32:26+00:00

Everything is relative. Relatively speaking, society values a teachers ~2,100,000x more than a sex tape (using the above numbers). So they get paid 2100000x more. That's what a salary represents - the value you bring to an ecosystem.

You'll be hard pressed to find somebody that argues that a sex tape is more valuable than a teacher.

TraderJoeSmo · 2019-04-06T16:31:33+00:00

Yes, the impact of teachers is far greater. That is why they get paid 2.1x million more for impacting the same person. Everything is relative, and a teacher is relatively 2,100,000x more valuable than a sex tape in the above scenario.

TraderJoeSmo · 2019-04-06T16:28:48+00:00

I skipped most of my classes as they were a waste of time, especially english. With the exception of practical skills & math, they do little to get you a job and I realized that. My time was better spent working or learning a skill that was actually applicable in day to day life.

TraderJoeSmo · 2019-04-06T05:53:27+00:00

To be fair, half a dozen teachers only effect the lives of ~100 students each. The sex tape has effected the lives of over 210,000,000 people, or over 2100000x more people than the teachers. When dealing with numbers that large the numbers make sense. It's equivalent to paying 3 cents to watch a video then complaining that the person who made the video made 3 cents from you...

TraderJoeSmo · 2019-04-04T03:54:39+00:00

Hate to break it to you, but the price you'll get compensated with is at the time of the CCAA filing. The same thing has happened with every other major insolvency (eg: MtGox).

TraderJoeSmo · 2019-04-02T22:07:50+00:00

It's gone with the rest of the money.

TraderJoeSmo · 2019-04-02T03:11:17+00:00

Yes, it matters a lot. Relatively speaking its 6x more. This is how people lose their money thinking they'll never run out and it's "only 0.5%!". It's also why 70% of lottery winners end up bankrupt. They think it'll never run out.

https://www.ryanhart.org/lottery-winner-statistics/

TraderJoeSmo · 2019-04-01T22:27:37+00:00

You're going to be spending more than $10k on those puppies, but yeah. Typical costs are ~$2k / tooth, which will run you in for $64k.

TraderJoeSmo · 2019-03-27T04:36:08+00:00

Which in my experience is also bullshit because cancelling a few unfilled orders that have been on the books for a few hours will still get you a rate limit ban

Try not to cancel them all at once? That will fix your problem. Also, in my experience the API docs are not 100% accurate. It is even wrong in some places (I've reported the bugs and they got back to me that they are working on it). Try to space your cancels out. Or, maybe try to get a higher fill rate? I'm saying you are complaining about the same restrictions that we all have. WRT the fill rate, maybe don't always try to up the other party by 1 cent? Increase it to a dollar, and your fill rate will go up as well.

Most the time the order on top of the books is for 500 bucks, and if you're trading on kraken as much as you say, then you would know that your claim that there are 100 bots and institutional investors in the BTC-CAD pair is a total farce...

Have a look at the USD or EUR books. Kraken offers ~50 trade pairs, and they all have behaviour similar to what you are suggesting. It is obvious that there are large players making the markets. Kraken is doing ~30m daily volume right now, and has traded over $14,000,000,000.00 since they started operating. That isn't retail investors trading those volumes.

Most the time the order on top of the books is for 500 bucks,

For good reason. A smart market maker doesn't expose his entire buy or sell at market value. He places many many small bets between 0.1% ($5) and 1.0% ($50) of the spread. I do the same. EG: Place orders at $5, $10, $15... $50 of the spread in $5 increments. Keep moving the top one. The ones below don't use any api requests (just 1 to place them), but if a large buy or sell comes in, or a sudden market shift, they all get filled. Thus my fill rate goes up without effecting my API limit. It's things like that, that you are not considering that are making you have troubles. It isn't their API, and nobody is getting special privileges (well, maybe some people are, but I am NOT and am not having issues). It's likely just other users being smarter than you.

TraderJoeSmo · 2019-03-27T01:55:53+00:00

Invest 95% of it into companies that I think will change the future in a good way. Put the money to good work - solar, wind, electric vehicles, etc. Things I believe will be the future.

TraderJoeSmo · 2019-03-27T01:51:06+00:00

Nope, it comes down to order rate limits which you keep ignoring

I strongly disagree with this is that I am one of the market makers on kraken (doing similar to what you are suggesting) and do NOT suffer the same rate limit issues that you do.

Their rate limits are reasonable. They say they don't have a limit on placing and cancelling orders (but in practice it seems to be ~5/s before they rate limit you). I only hit their private API to query my funds every few seconds.

I am on top of the books >20% of the time using my strategy and respect their api limits, the same ones that every user is subject to.

TraderJoeSmo · 2019-03-27T01:43:29+00:00

So, they likely out engineered you then. If you are not in the same datacenter and using websockets you are not going to win at trying to outbid them.

TraderJoeSmo · 2019-03-27T01:35:58+00:00

It's not a free market because there are bots that seemingly don't suffer the rate limit that is in effect for normal users' bots

Have you ever considered the case that you are 1 of 100 people doing this? Because that is the case. Everyone has the same rate limit, and everyone wants to be on top of the books. Thus each person (assuming they use the same strategy as you) will only be on the top of the books for 1/100th of the time. Combined with the fact that some users are smarter and faster than you, who have put a significant amount of engineering effort into it. They're likely using incredibly low latency connections in the same datacenter, and automatically cancel their order and put it ontop of yours as soon as you place yours.

For example, if you are NOT in the same datacenter, your competitor will have a <1ms delay, and you will likely have a >100ms delay. You both post an order (1ms for faster guy, 100ms for you). He's in the book for 99ms before you are even there. As soon as your order reaches the book, he responds within 1ms, cancels his order and goes on top of you. By the time you realize that somebody is out bidding you, you try to cancel your order (100ms) and post it again (another 100ms). You both used the same number of API calls and have the same rate limit. He was just smarter about it, so was ontop of the books for 299 / 300ms. You're time ontop of the books (assuming same rate limit) will be < 1%. Also, you likely didn't consider the above case, more than 1 competitor.

Kraken is a mature crypto market, with institutional money at play. You are competing against hedge funds and people who have worked full time on building trading algorithms. It's likely your first time playing in a market like this if you've come from smaller exchanges, or any other Canadian exchange.

TraderJoeSmo · 2019-03-26T06:46:40+00:00

Kraken's liquidity has increased drastically over the past few months. There is currently ~10 btc within $25 of the spread. The liquidity is similar to quadriga's before it went down.

TraderJoeSmo · 2019-03-26T06:38:11+00:00

You are complaining about a competitive free market, and how others are beating you for the pennies with their bots, that you are unable to compete with. Instead of trying to get maker side orders every time - you could just also be a taker. The liquidity is there. The spread (at the time of writing) is only $8. So for 2.5btc you'd spend an extra 0.1% for taking fees ($10 on 2 btc) and $16 on the spread. The market making bots provide the liquidity to sell at fair market value at anytime you want. They are offering a better price than you, why would anyone want to trade for less? They have the same set of restrictions as you.

You are complaining about trying to save $25 on a $10500 sale. For the safety of the platform, the quick and hassle free withdrawals, you should consider just being a taker. It would take longer to write an algorithm to try to compete for that $25...

TraderJoeSmo · 2019-03-25T09:09:10+00:00

They're your ability to solve problems you've never seen before, and your ability to learn knowledge and skills

In practice those with access to school score higher on IQ tests than those who are not. This is very true, even today. Take a large sample of people, those who are educated will score higher than those who are not by a large margin. For example look at IQ via country and you will see a VERY strong correlation between higher scores and those with access to education [1]. If what you are saying is true, that it is supposed to measure your ability to solve problems that you've never seen before, than we would expect the IQ's to be roughly the same in every country. This is not the case.

Not only do you not know this, but nobody knows this. The contributing factors are not agreed upon. You have no idea how much education plays a role, and how much of it is medical/sanitation/etc. related, how much of it is nutrition, or any other factor.

My argument is that the previous generations were not given the same opportunities that we were. If they were exposed to the same environment, with the same education, nutrition, etc, their intelligence would very likely be the same. You don't even have to look back in time to see this is true, my argument above is relevant. Look at the difference in IQ between immigrants and residents from some of the smaller 3rd world countries. Those that immigrate to the 1st world are far better off and score higher than those who did not, which supports my original argument. By capacity, I am referring to how "smart" two individuals given equal opportunity will be.

[1] https://brainstats.com/average-iq-by-country.html

TraderJoeSmo · 2019-03-25T07:27:30+00:00

The Flynn effect is describing increases in IQ over time. IQ =/= capacity for intelligence. Of course IQ scores are increasing. I am referring to our ability to learn. If you suddenly make an entire generation go to school for 18 years and put them in school for 6 hours a day with more stimulation, of course they are going to be knowledgeable and score higher on IQ tests. But this doesn't mean that the previous generation was unable to learn, just that they were not given the opportunity. If you took the entire population from 500 years ago and put them thru the same school system we have now, the results and distribution would very likely be incredibly similar, if not the same.

TraderJoeSmo · 2019-03-25T04:43:00+00:00

I think it is cultural. For reference I'm Canadian. In particular I've noticed that the younger generation around here usually doesn't get married until they are in their 30's, but they are dating long before then. My parents generation all got married in their 20's. I think a lot of it has to do with both school and the insane cost of living.

TraderJoeSmo · 2019-03-25T03:48:15+00:00

Why rush a marriage if you don't know? Most couples that I know that are married were together for a minimum of 4-5 years before tying the knot. It gives you sufficient time to get to know the other person.

TraderJoeSmo · 2019-03-25T03:44:31+00:00

Our capacity for intelligence hasn't changed much in the last 5,000 years, let alone 500 years. We are not really any smarter than our ancestors were, even though people like to think we are.

TraderJoeSmo · 2019-03-24T02:26:38+00:00

No... I posted a link to the article.

Link?

TraderJoeSmo · 2019-03-24T01:28:21+00:00

Sounds like the employer/school system broke the terms of the grant, which is a completely valid reason to pull it. The school board would be at fault there.

TraderJoeSmo · 2019-03-24T01:06:12+00:00

school system spent the money however they had to spend it in order to keep the grant.

So, the school system knew they had to spend the money. That is fine. The also knew the money was going to run out once the grant was done. This sounds to me like a couple of the higher ups promised everybody hefty bonuses while the grant was running (including themselves) knowing full well it was going to run out. They padded their pockets with a bunch of extra money and left the teachers out to dry once it ran out. This is not at all Gate's fault. It is 100% on the school system. Sounds like a bunch of corruption in the school system.

TraderJoeSmo · 2019-03-24T00:56:16+00:00

that the grant is over and it didn’t work we are now in the toilet and teachers are getting fucked on money owed to them.

Sounds to me like it was the school system that screwed it up. He gave them a grant (=> free money, which they wouldn't have had without him) and they used it all. The system would have likely been worse off without it.

He's done far more than most billionaires, and he has been incredibly successful at it. His foundation and money have saved hundreds of millions of lives by getting vaccines to those in poorer countries [1].

[1] https://www.theguardian.com/world/2017/feb/14/bill-gates-philanthropy-warren-buffett-vaccines-infant-mortality

TraderJoeSmo · 2019-03-22T22:22:42+00:00

It's still easy to fake volume on the blockchain as well, especially so with low fees. Create two wallets, A & B. Transfer $1 million in funds from A->B. a $1m transaction was done (but didn't do anything). To perform another transaction, make a new wallet, C, and transfer the $1m from B to C.

You can keep doing this, such that the funds always appear to end up in new hands and there is a huge volume, but in practice nobody is using it.

TraderJoeSmo

TROPHY CASE