1,434 karma · joined May 27, 2021
Funny how ChatGPT is vanilla and grok somehow has a new racist thing to say every other week.
And this guy runs a bitcoin payment service? Is this the technical level of the people writing critical payment code in the bitcoin ecosystem? Yikes
If you’re older I can understand why it seems perplexing but it’s true in my experience.
>This kind of personal attack is beneath the level HN aspires to
Sophistry is also beneath that level.
The bottle neck is in the architecture and the details. Which is exactly what AI gets wrong, and which is why any engineer who respects his craft sees this snake oil for what it is.
Guns can never be safe.
Personally it just feels kinda like buying time, so I’d rather have a more permanent solution.
The enshittification seems inevitable.
Eventually Premium will have ads too. It’s just a matter of time.
I don’t think Youtube is the place to look for education, and neither does youtube apparently.
It’d be pretty bad if someone watched youtube videos and thought they could handle guns safely and ended up hurt.
That doesn’t seem like a bad thing to me.
People just like feeling like they’re special, and they think points are a cheaper way of getting special treatment. In practice they’re not tough.
Think about airline points programs. Strictly speaking the airline is losing money on it, but they judge that overall it’s worth doing.
Patrick’s argument is flawed because it assumes that if the interchange fee pays more than the cost of providing benefits, then it’s not a “subsidy”.
This is false because the interchange fees, and in fact all of the fees, have to pay for the entire company’s operations, not just for your points program. Without more detailed data it’s not possible to rule out the possibility that points programs are a subsidy for the rich.
The second assumption he makes is that volume is the same across the board. It’s not, there’s way more customers on the lower end, and the company charges them even more fees. So sure, rich customers individually pay more interchange fees, but the company could still be making most of its money from poor customers.
Unfortunately without knowing the CC company internals we have no way of knowing. Which means that Patrick’s opinion while being an educated guess is still just a guess, so it doesn’t refute anything.
And Twitter doesn’t show threads unless you’re logged in btw, so you just linked Patrick’s opinion.
Instead I’d rather focus on human nature and induced behaviour.
When mcdonald's offers 2 burgers for the price of one, they make money because people who wouldn’t normally eat at mcdonald’s show up.
When airlines offer points, they make money because people who normally wouldn’t book flights end up booking them. Even if the points are a good deal, you end up spending more money than you normally would because you’re enticed by the points.
If points systems caused losses then nobody would have them. They’re money makers, and that money is coming from someone’s pocket.
It’s like comparing a machine gun to a matchlock pistol and saying they’re the same thing.
Plenty of countries have states with distinct laws and cultures. Canada, Brazil, England, Italy, etc. That doesn’t mean those states are countries.
Sounds like you’re letting US exceptionalism cloud your judgement.
If your states were like real countries, they could just ban guns, set up border controls, and turn away anyone bringing guns in. But they can’t, so they’re not countries.