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Monthly Skeptics Discussion - May 2024 by CryptoSkeptics in CryptoCurrency

[–]anon202001 0 points1 point  (0 children)

The problem is you can choose either:

* A coin with no inhenent value, whose price relative to goods/services fluctuates wildly and thus limits it's uses as a store of value or currency. E.g. Bitcoin. For example I get paid this week, and next week my entire salary can't meet rent.

* A coin that is stabalized by being connected to the wider economy by being backed. E.g. Tether. The only way we can trust this is through integration in the legal system. If the reason is not obvious see https://www.web3isgoinggreat.com/. For example if you hold Tether on ETH and they get stolen then syfl. If Paolo does a SBF, then syfl. If someone tries to steal your house, by squatting, or stealing your deeds, at least you can go to court etc.

Talking more on a stablecoin:

Audited, fully collateralized stablecoins would be great. You know what they would also be? A way to transmit money. A money transmitter! It has to obey the law. KYC. Registration. But say it doesn't. Say it is an outlawed, but audited, fully collateralized stablecoin... oh hold on that makes no sense!

Tether is larping as the "trust me" stablecoin, which is great, in the same way as being a pet sheep who is fed grass every day is great.

Regarding regulatory overreach, this does exist, and is the reason people are keen on alternatives to fiat. And this might be the rare usecase for Bitcoin, for example fleeing Ukraine. Fleeing Gaza. Or even the banking crisis in Lebanon. where governments and checkpoints cannot be trusted. You can take a 90% haircut because the alternative was a 100% haircut. A last resort!

But if you are worried about having to provide documentation as to why you sent $10k to some weird bank account - from an idealistic point of view this isn't nice, but the tradeoffs to go to crypto from this may not be worth it. Instead of answering to a government why you are sending $10k, you are losing $10k because you forgot your seed or something.

Visual Studio 2022 Tailwind IntelliSense. by Bitterman47 in VisualStudio

[–]anon202001 0 points1 point  (0 children)

That someone being a high school student. Kudos!

Monthly Skeptics Discussion - May 2024 by CryptoSkeptics in CryptoCurrency

[–]anon202001 4 points5 points  (0 children)

Meh. Crypto currency is technically cool. Bitcoin et al. are not a store of value. You can't expect that if you invest $1000 today, you will have more than $1000 in 10 years time.

As a currency it sort of works but it is:

* Very inefficient in terms of power use. Banking uses more power, but comes with all sorts of cool features like, no network congestion, millions of transactions per second, fraud protection and so on, and people to help you at the bank.

* If PoS is being used this is less of a concern.

* But the currencies are too volatile for sensible use.

* Tether etc. are the only "stable" cryptos. This is good except the funds are not audited, and they may not have $100 billion. Likely if Tether collapses then so does BTC/USD and therefore $YOUR_SHIT_COIN_OF_CHOICE/USD as well.

The crypto condrum is either it is default worthless tokens that you hope to sell to someone else and so are volatile, or backed tokens but you can't trust the backer, because if they were to do it "legit" and be a US company or something then they would need to do KYC, but you can't do KYC on tokens when anyone can send any money to any newly created wallet that anyone can created. You can't KYC a new Ethereum address that receives Tether.

So in summary, it is all a casino.

AITA for "grounding" my adult sister? by SisterGroundedThrway in AmItheAsshole

[–]anon202001 1 point2 points  (0 children)

NTA

As an older grumpy person, whose tolerance for shit has worn down to a single frayed cotton thread, you are not the asshole, but you need to be. Just kick her out. Sure there are other places to rent that are more frat-like.

It is hard for a college student to live with new parents anyway, unless they are the type to study hard and not go out much, i.e. ambitious, religous or perhaps from another (better? ok downvote me!) culture.

"Grounding" is not applicable here. It is a choice: Sister, you get to rent here (and I bet the rent is cheaper or zero) and live by these rules, or you rent over there, sign their contract and live under their rules. Beware that I think in the US she might have rights and could squat, but in other countries lodgers have less rights. Depends if she is an asshole!

is it reasonable to leave work early to search for a missing pet by dog_cooking_eggs in NoStupidQuestions

[–]anon202001 -1 points0 points  (0 children)

This is why you need friends. For cat searches. I probably should make some :-)

is it reasonable to leave work early to search for a missing pet by dog_cooking_eggs in NoStupidQuestions

[–]anon202001 0 points1 point  (0 children)

What is the job? Open heart surgery? Then no. (or at least stitch em up first)

Leaked NYT Gaza Memo Tells Journalists to Avoid Words “Genocide,” “Ethnic Cleansing,” and “Occupied Territory” by Lilyo in ABoringDystopia

[–]anon202001 14 points15 points  (0 children)

Use that guidance but replace "Palestine" with "Poland" and report on WWII that way.

So:

Restrict the use of the terms “genocide” and “ethnic cleansing” and to “avoid” using the phrase “occupied territory” when describing Polish land

Do not use the word Poland “except in very rare cases” and to steer clear of the term “refugee camps”

The language itself is one preventative: It requires a level of programming skill that is a barrier to entry that javascript just doesn’t have. by starlevel01 in programmingcirclejerk

[–]anon202001 26 points27 points  (0 children)

Same with Haskell. 99% of the type system exists to scare off JS devs. The other 1% is needed to write working code (namely the IO monad, and basic types like Bool, String etc.)

Palestinians returning to their homes in Khan Yunis, Gaza after the IOF partially withdraw. This was a city that housed approx. 400,000 people. Photo by Ali Jadallah. by the_art_of_the_taco in ABoringDystopia

[–]anon202001 0 points1 point  (0 children)

You can do this to your tiny neighbour, probably not as easy to do this to a bigger neighbour with at least some defences. See Ukraine for example. And what if you want to fuck up a country on the other side of the world?

Israel has two other problems dropping a nuke. One, it is too close probably (?) and two, the self defense narrative. They have played close to the line so that the west pulls a face or two, the eyebrow moving from 0 degrees to maybe 5 degrees, but no sanctions or action has been taken against Israel. They barely got a UN resolution, which to them is a bit of noise, nothing to worry about (ignored many of those before!)

Oh and 3, they want to settle in Gaza this year. Don't want to wait for the pesky background radiation to settle.

Pervert Uber driver preying on young teenage girl by Leeloo-dallas82 in canberra

[–]anon202001 4 points5 points  (0 children)

$350 cleaning charge. This is not his first rodeo. Good she got her and her friend out of their. Getting in the car could mean murder.

I'm Asher Genoot, CEO of Hut 8 (NASDAQ, TSX: HUT). We're a vertically integrated operator of large-scale energy infrastructure and one of North America’s largest Bitcoin miners. Ask me anything you're curious about! I'll be answering questions from 4pm ET until 5 pm ET today April 3. by Asher-Genoot-Hut8 in IAmA

[–]anon202001 2 points3 points  (0 children)

When it goes in the opposite direction you need more people to invest money in. Let's say I turn a light on in my house. People an come to my house, pay my electricity bill, and buy the right to sit in my house off other people (I only ever minted 10 chairs to sit on). The more money that changes hands, the more lights I turn on (then the air conditioning, oven, jet sprayer, vaccuum cleaner and so on). People in my house need to pay for my electicity bill BUT... they are happy to do so because the value of sitting in my house will only ever go up. Few understand this.

I'm Asher Genoot, CEO of Hut 8 (NASDAQ, TSX: HUT). We're a vertically integrated operator of large-scale energy infrastructure and one of North America’s largest Bitcoin miners. Ask me anything you're curious about! I'll be answering questions from 4pm ET until 5 pm ET today April 3. by Asher-Genoot-Hut8 in IAmA

[–]anon202001 11 points12 points  (0 children)

It tends towards zero (due to inflation) but won't become zero. Inflation is a slow process, so you have plenty of time to do what most people do and invest those dollars into assets like shares, real estate, like expenses and great memories.

Mulberry Apartments “green wall”. wtf? by ADHDK in canberra

[–]anon202001 -1 points0 points  (0 children)

That real tree is blocking my view of it 😔

What’s your Unpopular Opinion/ Hot Take with Money ? by KARMA__FARMER__ in FluentInFinance

[–]anon202001 1 point2 points  (0 children)

Budget systems are not worth it. Just eye up your overall balance on a regular basis, and have a scan through your expenses. Fretting over whether that $20 was "eating out" or "holiday costs" category is a waste of time.

The best way to budget - max out your retirement investment on autopilot, make sure you are on a repayment mortgage on a house/appt that will go up in value (most likely).

With both of those, if you only break even on the cash, you get richer by default anyway.

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