Fantastic thread from someone who has been on the inside banging away. Somewhere in there another fellow says, "This was mostly my calculus as well. You can maintain 99% exposure to everything in crypto by just holding Bitcoin, so diversify your career just in case."
Very close to how I am feeling these days.
Just what it says on the box :)
A fascinating look at strategies for extracting value deep within the Ethereum system based on front-running DEX transactions.
Just had the thought that it should be important to enable the destruction of encrypted content in some automated manner if it is sensitive because some day, it may be easy to break.
The WorkLock strongly incentivizes participants to use the token for its intended purpose and gives them skin in the game through their locked ETH.
What if the government let anyone use a currency of his or her choosing? What if the government permitted entrepreneurs to innovate in the monetary sector, such as by creating digital currencies or minting commodity money?
We have curated this collection of research to serve as the primary repository for the most impactful work done in the nascent but fascinating field of crypto asset valuation. We believe this is deeply important work presented by the most talented minds in our space. It is an honor to share it with you.
Not as bad as it sounds :)
To follow the previous article. Both need to be re-read later.
A good place to start is with a simple description that you can carry in your pocket: MMT proposes that a country with its own currency, such as the U.S., doesn’t have to worry about accumulating too much debt because it can always print more money to pay interest. So the only constraint on spending is inflation, which can break out if the public and private sectors spend too much at the same time. As long as there are enough workers and equipment to meet growing demand without igniting inflation, the government can spend what it needs to maintain employment and achieve goals such as halting climate change.
Years ago while working as a Geologist in northern British Columbia, I was walking back to camp on a steepish slope with lots of deadfall. It was difficult to walk thru all the underbrush and fallen trees. At one point I'm up on a large piece of deadfall and a bear strolls across below me, turns, rears up and sniffs the air at me.
Seeing this video now, I wonder if it was just scratching its back and I we happened to cross paths at that very moment. This video is very close to how I remember it moving, rearing up, wiggling its head and then slowly dropping down to go on its way...
A very well written look at Amazon.
Interestingly though, once we depart from a strong centralized authority, strong assurances might only be possible at the other end of the spectrum: via highly decentralized networks.
Just what the title says :)
Some good information in here wrt timing, hacks and other privacy incidents.
This could be a deep rabbit hole...
The subtitle is inspiringly underwhelming: The tolerance of mediocrity in nature and society. Reader Killian Butler sent me this post on being mediocre. Our movement is really slouching along now.
The people running the presses aren't buying fiat currencies. They're buying a 'worthless rock'
Most highly successful people have been really right about the future at least once at a time when people thought they were wrong. If not, they would have faced much more competition.
I have no idea how he measures the 'most people' here, or in the article where the phrase is used many times, but the proposal here is that some form of asymmetry allowed these successful people to be in the right place at the right time.
To do anything requires energy. To specify what is done requires information.
The more energy the faster the bits flip. Earth, fire and water in the end are all made of energy, but the different forms they take are determined by information. To do anything requires energy. To specify what is done requires information.
Seth Lloyd 2006
A smarter way to secure your Node.js applications
Intrinsic is an application runtime security technology which limits your application's privileges to exactly what is needed and nothing more.
I've been interested in this since I saw it used in TRAC nodes. Link to the original paper here: https://goo.gl/YgJ2Us
Reference for, err, referring people to.
A nicely tied together look at some of the players and happenings in the 'open finance' area of the crypto world. I need to dig a little deeper into this rabbit hole; marked for review.
Space reserved for comment :)
And this link: https://he3labs.shinyapps.io/RadixEconModel/
I suspect had Satoshi realized that fixed, low, inflation was technically feasible bitcoin might have had it.
Article about Facebook moderation co in the U.S.
I've been reflecting on this a lot lately, posting it here as a sort of timestamp.
More rabbit hole from Naval's tweet:
The Overton window is the range of ideas tolerated in public discourse, also known as the window of discourse. The term is named after political scientist Joseph P. Overton, who claimed that an idea's political viability depends mainly on whether it falls within a range acceptable to the public, rather than on politicians' individual preferences.
This is how I came across the previous link:
Social media makes it easier to organize people, so the motivated people are organizing digital mobs. Thread...
I read this short story over the weekend and really enjoyed the futuristic view and outlay of technology.
I might need this for a project...
I only read the tl;dr but it provided some confirmation and some thought, mostly from this viewpoint:
We aren’t just building businesses so corporate governance won’t work. We aren’t just building economies so economics alone won’t work. We are building global communities, so I’m afraid, we are going to need politics.
What to do when you don't know what to do
Putting this thought into a note...
You know when you wake up and have a day where nothing works or you have time and its just not happening? It happens...
I've found for years now that if you can't figure it out, the best thing to do in this situation is to really rest - let go of it all and rest - and if you can't, try to lift, and failing that, grind. There's always something that needs some grinding, tasks that have been put off, kipple to get rid of or whatever. Mindless dull tasks that need to be done.
When you don't know what to do, grind.
There is zero alpha in value investing based on public information, over all time horizons. And for large cap companies, public information is all you’ve got.
I'm loving these drops of reality from BH on Twitter.
I bought "the short something or another about Jung", will be reading that and saving this for future follow-up.
The 1948 paper.
I've just put up a live chart of various Bitcoin Valuation metrics for you all. Live chart: https://t.co/R5k7szUfY5 It features some previously unpublished work, fresh off the press. Much of this new stuff was in collaboration with @kenoshaking. Let's take a guided tour...…
Ok, let's talk quickly about Amazon and what I'll call the gangster-ification of American business. In the 1980s, mobsters dominated the gas station business in NY and NJ by not paying taxes their competitors had to
Thoughts to come...
What got you here, won’t get you there.
From Tribe of Hackers.
Pushed into the review tag for later consumption. No time for fun course just yet.
Some good examples and discussion in this thread; I can't say that I understand it all yet, but I'm working on it.
In line for reading, first finishing up some extra math and cryptography coursework.
Much like the previous post, something for that sometime.
I've been meaning to find time to get to this and read some, might not be until next summer holidays. Marked for review.
I'm going to need to read this a few more times for it all to sink in. Recommended by Naval.
An interesting concept for a decentralized socmed platform, but not quite what I am thinking of...
Oh the places you will go.
Grumble grumble more stuff to read.
Excellent paper on the "Doomsday Economics of PoW currencies." https://t.co/bza8eIBsL3…
Tagged in review as I want to be brought back to this. The video is quite good.
Michael Dunworth spelling out some great detail on how they use BTC under the hood and nobody needs to even know.
Saving this as it does look interesting:
Related reading: - Artificial Unintelligence, by @merbroussard: https://t.co/WjTXqGXr5h - “Machine Bias,” stories from @ProPublica, by folks who went on to found @team_markup: https://t.co/XqOWE6oux6 - Weapons of Math Destruction, by @mathbabedotorg: https://t.co/bGNJigckGd"
Tails is a live operating system that you can start on almost any computer from a USB stick or a DVD.
Less information is acquired, shipments are faster, isolation between participants is high, and multiple independent sales channels are established.
Great write-up on MW, Grin and Beam.
Over the last several months I have written a series of articles — which I have called the Bitcoin Fundamentals series. My goal is to go down the rabbit hole as far as I could, to see what Bitcoin is really made of.
I've read all of these posts (linked within) but would like to revisit once I finish my own trip down the extensive rabbit hole.
Survival came down to cultivating a sense of belonging, purpose, and stewardship.
About to start her book (listening to it), I'll save this for reading later.
"Standard Notes is a safe place for your notes, thoughts, and life's work."
I'm not using it, but linking it in case I get interested. I would still like to roll my own encrypted backend with Pinboard as the front end for now. Obvs Pinboard isn't encrypted, but getting one side working first would be the idea.
FT looking at external private equity in Spain (I had to search the title in GOOG and click from there to get past the wall). This looks very similar to same old thing happening elsewhere, and the article quotes all the wrong metrics to evaluate success: jobs, recovery etc.
Website that calculates the cost to mine BTC/ETH/LTC.
A high level yet somewhat complete look at the systems around 'crypto' from an investment thesis point of view. This following thought is one to dwell on, for me:
Another way to think about this tech is as the long tail of finance: just like Amazon became the long tail of Internet retail and eventually cornered most the market, crypto will start as the long tail of finance.
The Blackbird is used as a stand-in for many cars advertised in US car commercials as it is capable of maneuverability many of the cars that replace it visually (via CGI) do not have.… https://t.co/obkc0Kqcqb
More noise, less signal!
Not a comment about the article, which I haven't read yet, but style, layout and UI envy.
The phishing starts normally, with a fake Gmail page asking the target for their password.
Examples for different IDEs in the thread.
Thoughts on momentum and its manifestations around us. In the final part, the author mentions, "work your butt off to get some momentum behind you"... I'm ruminating the thesis that you don't need to work your butt off, you just need to do the basics and be consistent. That effort rolls up into something bigger that without a doubt could be considered "working your butt off" but I'm considering that it really is just discipline + the basics.
FS podcast with Gawande that I mentioned earlier, this idea I quite liked, that of "necessary fallibility":
We will never have complete knowledge of all of the conditions and states of the world.
money is a unit of prior work associated with mismatch in needs found in barter systems.
While perhaps oversimplified, this is a decent short phrase to describe an aspect of money.