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hmate9

1,308 karma · joined November 18, 2014

Why are you stalking my HN page? :D
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hmate9··on Ghana plans to buy oil with gold instead of dollars
Gold isn’t valued in dollars. You can sell gold for any currency.

Oil is primarily transacted with dollars because it’s the worlds reserve currency. But if that were to change to whatever, you can still sell your oil and gold for whatever the new dominant currency is. Meanwhile your dollar is (presumably in this case) worth way less in terms of buying power than when you first bought it.

hmate9··on Dimming the Sun to Cool the Planet
Looks like men would rather dim the sun first than invest in nuclear energy. Sounds great.
hmate9··on I decided to stop working on Mighty
Suhail’s Twitter is definitely worth a follow as he is regularly tweeting about the everyday problems and challenges of running a startup. If you’re interested in the space it’s a good mix of technical and startup challenges and is one of the few Twitter accounts that provides great content all the time (in my opinion)
hmate9··on FTX’s financial black hole leaves Binance balking at rescue plan
They had the best API offering so that’s where I started with small funds. Ramped it up to a great significant amount. Didn’t see any early signs that I should withdraw. They’ve raised billions, they’re making millions daily from fees, CEO is looking to donate a billion dollars to politicians etc.

I truly underestimated human greed where making 7 figures of profit A DAY is not enough and you still gamble with user funds.

Luckily I’m still young enough and don’t have a family and I am confident I can rebuild but man, it definitely stings.

hmate9··on FTX’s financial black hole leaves Binance balking at rescue plan
Your use of memes is incorrect and it must be a great life to find satisfaction in another persons huge loss :)
hmate9··on FTX’s financial black hole leaves Binance balking at rescue plan
The only likely outcome I can see is binance taking on just a part of the rumoured $6bn hole. For example covering deposits up to $100k (or whatever number)

Earns goodwill and users while the size of the bill is smaller.

Not sure how it would work from a legal standpoint but unfortunately 6 billion is too much (and I had a majority of my net worth in FTX as a trader)

hmate9··on Tether ordered to produce documents showing backing of USDT [pdf]
On FTX you can short the USDT-PERP future. You pay about 4% a year in funding fees while the position is open.
hmate9··on Google pays ‘enormous’ sums to maintain search-engine dominance, DOJ says
If they didn’t pay so much then Bing or Yahoo would pay a slightly smaller amount to be the default and not Google. Would that be fair?
hmate9··on Ask HN: Will AI-generated images flooding the web pollute future training data?
imo no. Just use existing image sets to train future models if this becomes too big of a problem.
hmate9··on Ask HN: Has YouTube peaked?
It’s the fact that every video is 10 minutes long now because then you can monetise better.

The majority of videos have about ~3 minutes of the actual content that you’re interested in and 7 minutes of just pure fluff and fillers.

hmate9··on Bitcoin drops below $18,300 as sell-off accelerates
It’s energy usage is indeed terrible. I’d love to see it move to a proof of stake model.
hmate9··on Bitcoin drops below $18,300 as sell-off accelerates
If you are investing here please dollar cost average over the next ~6 months (likely recession/bear market duration) as opposed to buying in one go.

Sell ~4 years from now as Bitcoin tends to be cyclical and peaks 2 years after a halving event.

hmate9··on Bitcoin drops below $18,300 as sell-off accelerates
I have no horse in this race but it seems like a lot of people are rooting for as much pain as possible for Bitcoin as that justifies/makes people feel good for missing its bull run.

Also it’s not just Bitcoin falling in a vacuum. The entire US and European stock market is absolute garbage too (housing showing cracks as well) so it’s hard to blame Bitcoin alone although it has undeniable failed as an inflation hedge.

hmate9··on How James Patterson became the world’s best-selling author
For those unfamiliar: His books are quite generic but provide some fun for the casual reader.

He has released over 200 books and sold over 400 million copies. He uses a team of ghostwriters to actually develop the books/series after he gives the detailed outlines of the characters and the stories.

His success is mainly how he has been able to scale up and release so many books with his name attached.

hmate9··on Ask HN: What game do you wish existed?
To suggest something different: More escape room games for VR.

I have played "I expect you to die" 1 and 2 on Oculus and it has been so amazing and fun. Had some fun with two other escape room games but neither were as polished as I expect you to die.

There is zero replayability with these games but I would happily pay a couple of bucks a month for a fresh level every week. Kind of like a TV series but for a game.

hmate9··on On $600B of Y Combinator startup success
My main takeaway from this was how much B2B SaaS companies dominate their unicorn distribution.
hmate9··on No Dislikes has officially ruined YouTube for me
I turned off storing my watch history on youtube and what that means is that my feed and recommendations became terrible. That is a great thing!

I now only spend time watching videos on youtube when I actually want to watch something and search for it and not end up in a wormhole of watching 4 hours of videos back to back to back.

hmate9··on Dark pattern: how YouTube makes sure you don’t always “skip ad”
I wonder if you could build an AI using this datasource to automatically detect sponsored segments. 3.8 million segment submissions is probably enough data.
hmate9··on When negotiating a price, never bid with a round number (2016)
It’s not a race to the bottom because what Asda is doing is pricing it 175.8 when others price it 174.9
hmate9··on Meta earnings presentation Q1 2022 [pdf]
$9.39 billion Class A common stock shares were repurchased. That is 2% of Meta's market cap. And they still have more to repurchase!

As of March 31, 2022, FB had $29.41 billion available and authorized for repurchases.

hmate9··on Meta earnings presentation Q1 2022 [pdf]
Stock is up 18% after hours.

Revenues and earnings:

- Daily Active Users 1.96BN, beating Est. of 1.94BN, up 4% Y/Y

- Monthly Active Users 2.94BN, missing Est. 2.95BN, up 3% Y/Y

- EPS $2.72, beating estimate $2.56

- Revenue $27.91 billion, beating estimate $28.24 billion (Bloomberg Consensus)

- Advertising rev. $27.00 billion, missing estimate $27.48 billion

- Family of Apps revenue $27.21 billion, missing estimate $27.52 billion

- Reality Labs revenue $695 million, beating estimate $677.1 million

- Other revenue $215 million, beating estimate $189.3 million

A red flag here: yes, revenue grew 7% YY, but that was the slowest pace of growth since the company went public in 2012. Meanwhile, US revenue barely grew in Q1 at $12.671BN, up from $12.405 BN.

hmate9··on Elon Musk makes $43B unsolicited bid to take Twitter private
Arguably he already has it but if Elon manages to turn Twitter around and grow it to be on par with Facebook and TikTok then nobody could deny he has the greatest Midas touch in the world.
hmate9··on Insider Trading at Coinbase
No they don’t. You trade with other users not coinbase directly
hmate9··on Ask HN: How do you avoid video game addiction?
You wouldn't tell a recovering alcoholic to try to drink alcohol again but "drink less this time".
hmate9··on Ask HN: How do you avoid video game addiction?
Sounds like Dota.

Dota was a serious addiction of mine. What helped me quit was getting rid of EVERYTHING that could trigger me to play.

- Uninstalling Steam - Deleting twitch account - Every time youtube would recommend me a dota video, I would mark it as "not interested" and "dont show this channel again" - Getting rid of my mouse. I gave my mouse to someone for a month for safekeeping. - Finding another stimuli that you deem less damaging. For me this was chess.

Video games can cause extreme addiction I know, but successfully quitting it is SO REWARDING. After almost 18 month I do not miss it even a little bit.

What also could help is telling everyone you know friends and family that you are quitting this game. Then you will be less inclined to fail because they will know about your failure. Try to not be alone in this journey.

Good luck.

hmate9··on Tinygrad
This is the guy that did some iOS jailbreaks, reverse engineered the PS3 and now runs a self driving car startup.
hmate9··on Tell HN: I can't buy a PS4 because of my email
Maybe because getting a PS5 is still difficult in most places
hmate9··on Tell HN: I can't buy a PS4 because of my email
Email validation should just be sending a confirmation email. Otherwise you end up with a super large regex and having to update it every time there is a new TLD.
hmate9··on Ask HN: Any weird tips for weight loss?
The literally life changing book for me was “Why we eat so much”.

Don’t expect to have a lasting impact of your diet if you don’t understand how your body works with regards to food.

Truly recommend. Get the audiobook version and just listen an hour every day

hmate9··on I advised a student to not publish evidence of reverse racism
Information such as race and sex should not even be on the application form to begin with.
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