676 karma · joined December 18, 2014
That’s $0.5 trillion revenue rate
This project is kind of like ultimate nerdsnipe as math is quite simple, you don’t need PhD to understand it and actually implementing things would teach you linear algebra faster vs just mindlessly doing exercises sets.
// Now it's unfortunately taken by mattress company
“We’re on a mission to unleash the world’s creative energy by designing a more enlightened way of working” – Dropbox
For fuck’s sake, Dropbox. You host files. You make the files appear on all my computers.
I like Dropbox. I use Dropbox. I PAY FOR DROPBOX. But it is not “unleashing” my “creativity” in any meaningful sense of either of those words. It stores my files. It’s literally a filing company.
Do you think filing cabinet companies of yesteryear bragged about unleashing the creative capacity of the whole fucking world? Of course they didn’t! That would have gotten you laughed out of church.
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"AI risk is string theory for computer programmers. It's fun to think about, interesting, and completely inaccessible to experiment given our current technology. You can build crystal palaces of thought, working from first principles, then climb up inside them and pull the ladder up behind you.
People who can reach preposterous conclusions from a long chain of abstract reasoning, and feel confident in their truth, are the wrong people to be running a culture."
Explains different approaches / benefits and drawbacks
For bitcoin - paperclips are PoW hashrate.
The network rewards people that contribute to it's growth.
It doesn't care about people and people values - it's like a new kind of living organism that uses people as substrate to exist
Assuming that Apple products would be used for a long time - it's hard for them to sell more new devices when supply of old ones that are 100% functional is increasing and increasing. For regular internet browsing use CPU from 2012+ isn't that much different from new one
https://medium.com/@trivial.co/we-could-have-had-it-all-but-...
We have stablecoins or tethers (manny attempts to create something people want) - people want some form of money for peer to peer value transfer, that will allow arbitrage between exchanges and connection to "real world" as almost nobody is pricing their services in ethereum/bitcoin.
Let's say we have 3 competing stablecoins and Gresham's law will apply = people will be moving to "best" coin and leaving others holding bad ones. Imagine that you have 2 banks - one with good reputation and large reserves and second one - almost without them, yet both will be issuing private money redeemable for each other. So how come one can attract customers to his specific stablecoins solution? By offering interest rate - a stablecoin that pays dividend will be better than stablecoin without it.
It's complicated - ideologically stablecoins are similar to economical perpetuum mobile devices, yet the first are impossible due to laws of physics and second one may work because economy depends on human behaviour and humans may act irrationally.
Ability to get access to liquidity and financing is game changer for some industries and separates startup hubs from other usual cities.
Imagine that instead of getting through bankers underwriting IPO's you can do same thing in the form of token as equity. It's currently not compatible with Howey Test since equity tokens are obviously a security - but once one sensible country will adapt reasonable regulations towards cryptocurrencies and equity tokens NYSE and VCs may be distrupted - and free market, althou still regulated can produce multiple productivity improvements via removing such frictions.