Amazing video from @yoshtm1 showing how he trained an AI to play a racing game and ultimately become faster than a human that played the game for 17 years youtube.com/watch?v=Dw3BZ6…
As @saylor would say, inflation is a vector.
The price of scarce things tend to go up more in line with money supply growth, while tech and offshoring make other things radically abundant, which pulls the CPI calculation down.
what if SVB was a gift?
- re-affirms the need for decentralized permissionless money $BTC
- hamstrings the Fed from raising too much more
- removes systemic risk in the banking sector by providing a Fed/Treasury Put
thoughts?
since @elonmusk is in the lead of Twitter, i feel safe using the platform. there is a non formal connection between him and users, and that's great! Didn't see that in other social networks
Exchanges publishing Proof-of-Reserves is just a distraction. We also need Proof-of-Liabilities to go with it.
E.g. I could have proof that I have $1bn in deposits but if I owe depositors $2bn, then that’s meaningless.
Let’s not make the same mistake again.
The biggest exchange rugs of the past were incompetence or tech bugs. This one just seems to be…… just stealing customer deposits? Seems completely insane to me, but I guess now I am calibrated better on the extents ppl will go for greed. Cheers Sam.
The rumours for this blowup seem so egregious and unnecessary to me. I can’t imagine running an exchange that does mid 8 fig PER DAY in revenue and thinking “how can we leverage this for more?”. I can’t imagine risking a 40+bn business to try & get a multiple on client deposits.
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