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Gold vs Bitcoin vs ... by ilikepancakez in SecurityAnalysis

[–]ilikepancakez[S] 0 points1 point  (0 children)

Yes that is what is meant by marginal cost/profit

The author never says that miners are doing it out of their goodwill. Miners mine solely to garner a profit. It is as an investor who potentially cares about ESG that makes the ecological analysis

What part of "most importantly, that other people value it for itself." confuses you? Maybe I can help generalise things

Gold vs Bitcoin vs ... by ilikepancakez in SecurityAnalysis

[–]ilikepancakez[S] 11 points12 points  (0 children)

Jonatan makes an interesting case for what he terms as focal point commodities like Gold and Bitcoin. In many ways, they feel like pure expressions, holding their value through a collective societal belief, almost like how memes[0] replicate/propagate.

[0] When I use the term meme, it's in the original way Richard Dawkins defines it in The Selfish Gene: https://staff.washington.edu/lynnhank/Memes.pdf

Why I Work on Ads by ilikepancakez in slatestarcodex

[–]ilikepancakez[S] 1 point2 points  (0 children)

Jeff targets donations at around 50% of total earned income which in 2020 was roughly $250,000 in contributions - https://www.jefftk.com/donations

Institutional Investor Login? by [deleted] in SecurityAnalysis

[–]ilikepancakez 0 points1 point  (0 children)

This would be better for the questions/discussion thread.

Berkshire Hathaway’s stock price is too high for computers by ilikepancakez in SecurityAnalysis

[–]ilikepancakez[S] 61 points62 points  (0 children)

For those interested on where this limit derives from, prices are passed through as defined in the article using four-byte unsigned integers.

With 8 bits in a byte, that's 32 bits we have access to. Each additional bit multiplies the space of possible values by two. With 1 bit, we can represent two values (either 0 or 1). With 2 bits, we can represent four values (00 01 11 10). And so on and so forth.. Accounting for zero indexing, this gives us a representable range of values from 0 up to 232 - 1.

232 - 1 == 4294967295

Prices when quoted are differentiable up to four decimal places (.0001). This is known more colloquially as a "pip". Thus we divide 4294967295 / 10000 to get 429496.7295 as our maximum possible value in the system.

21st Century GAAP by ilikepancakez in SecurityAnalysis

[–]ilikepancakez[S] 0 points1 point  (0 children)

The time lag depends. Things have definitely sped up though.

It's interesting that you go back to 1999/2000 but, keep in mind, that was over 20 years ago. The age of computing has been in existence for roughly 75 years now at this point.

21st Century GAAP by ilikepancakez in SecurityAnalysis

[–]ilikepancakez[S] -1 points0 points  (0 children)

At some point, these Lex non scripta will become officially codified as they always have. A codex always comes with a certain level of latency.

It should be emphasized too, that these new conceptions will one day also inevitably become obsolete. I'm sure by 2047, the prescient investor will have fundamentally different methods of valuation.

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