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Intruder at the top of the 20 meter amateur band?

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Re: Intruder at the top of the 20 meter amateur band?

#81

Post by hatsunearu »

bigiain wrote: post #50
davidwihl wrote: post #43

Earlier quoted context omitted.

Ham radio transmissions are not allowed to be encrypted per FAR 97.113(4). [1] I suspect this is also a violation of FAR 97.113(3) "Communications in which the station licensee or control operator has a pecuniary interest, including communications on behalf of an employer" [1] https://www.ecfr.gov/cgi-bin/text-idx?SID=d4b3c60d2d60000a14...

Do the “part 5 experimental licenses” have that ham encryption restriction? It sounds like that at the very least are exempt from the ham station ID requirements. Are they actually ham operators, or other licensed entities permitted to use the ham bands?

Part 5 is not bound by ham radio rules, you can transmit anything according to certain rules, and if you use the Part 5 rules, you don't care about the rest of the rulebook.

Re: Intruder at the top of the 20 meter amateur band?

#82

Post by beervirus »

ajkjk wrote: post #26

I'm sure I'm not the only one who would like to see the whole HFT industry be deleted. What a waste of human intellect.

At least arbitrage provides some value by tightening bid/ask spreads. What about all the smart nerds who work on adtech instead of important problems? That's entirely irredeemable.

Re: Intruder at the top of the 20 meter amateur band?

#83

Post by filoleg »

tekkk wrote: post #72
morei wrote: post #52

Earlier quoted context omitted.

That's not a terribly strong argument. Should we ban making chocolate as well? Sports? Art? After all, these people could surely be creating something more valuable. If you want to make an argument based on opportunity cost, it generally should have specific alternatives and a viable cost metric. Without that, it's not an argument, just an opinion.

You're way off the mark with your examples. More appropriate ones would be military weapons, multi-level marketing, payday loan firms with ridiculous interest rates, scummy advertisement firms. You might not remember that in the Middle-Ages a large portion of intellectuals were spending most of their time debating religion such as is God really omnipotent and what a specific verse in Bible meant. Now sure you can arg…

> You might not remember that in the Middle-Ages a large portion of intellectuals were spending most of their time debating religion such as is God really omnipotent and what a specific verse in Bible meant.

And that lead to establishing a whole new field of social sciences that is philosophy. Yes, i am aware that middle-age debates and musings like that were not solely responsible for philosophy as a field of study, we gotta remember eastern philosophers and others too, but they were still monumental to making philosophy what it is today.

Regardless of how much their musings on god contributed to creating philosophy as we know it today in comparison to efforts of others working in that field (e.g., eastern philosophers in old China or middle eastern philosophers of about the same time period), their efforts accomplished a lot in terms of generating actual value for the society through philosophy as a field of study. Unless you are dismissing the entire field of philosophy as it stands today as "useless", then the value of those discussions is pretty obvious.

Not even mentioning second-order effects, like those debates making people question prior assumptions and embarking on important scientific endeavors, like trying to prove that Earth might be indeed revolving around the sun and not the other way around.

Re: Intruder at the top of the 20 meter amateur band?

#84

Post by wglb »

andai wrote: post #76
tekkk wrote: post #72

Earlier quoted context omitted.

You're way off the mark with your examples. More appropriate ones would be military weapons, multi-level marketing, payday loan firms with ridiculous interest rates, scummy advertisement firms. You might not remember that in the Middle-Ages a large portion of intellectuals were spending most of their time debating religion such as is God really omnipotent and what a specific verse in Bible meant. Now sure you can arg…

>creating money out of thin air Taking it from less skilled traders, actually.

Or slower traders.

Re: Intruder at the top of the 20 meter amateur band?

#86

Post by FooHentai »

bigredhdl wrote: post #51
allenrb wrote: post #34

Earlier quoted context omitted.

I’ve spent some time working in electronic trading, and I agree with you. Not only is the compensation very comfortable, but it’s the most interesting work I’ve ever done. That’s a tough combination to resist. As a result, it attracts people who should be out there curing cancer, developing new technologies, researching fundamental sciences, and so forth. It’s something everyone around me has acknowledged at one poin…

I like that term "“bug” in capitalism". I have always felt the "bug" is basically incorrectly pricing externalities. We don't properly charge you for the carbon you put into the atmosphere or the mental health strain you put on workers and so on. If societal costs were also real costs the allocation of resources could be more optimized.

It's an interesting of reasoning but comes with a caveat - Reducing externalities to a price figure allows you to trade them away on a balance sheet as nothing more than a price figure. This is fine if pricing accurately reflects value, but that's not the same as allowing a market to set the price. You lose a huge amount of detail in the process that can't simply be captured in a price signal moving up or down.

You may end up with things that have infinite price, at which point I think we're begging the question.

There's also a question of how commodified the things we're talking about here can actually be - If you can sell it one day and it's impossible to 'buy back' tomorrow at any price, then it's a fundamentally different kind of trade that doesn't really fit the framework as neatly as first appears.

Re: Intruder at the top of the 20 meter amateur band?

#87

Post by jamiek88 »

alasdair_ wrote: post #77
tekkk wrote: post #72

Earlier quoted context omitted.

You're way off the mark with your examples. More appropriate ones would be military weapons, multi-level marketing, payday loan firms with ridiculous interest rates, scummy advertisement firms. You might not remember that in the Middle-Ages a large portion of intellectuals were spending most of their time debating religion such as is God really omnipotent and what a specific verse in Bible meant. Now sure you can arg…

>in the Middle-Ages a large portion of intellectuals were spending most of their time debating religion such as is God really omnipotent and what a specific verse in Bible meant. Right. And through all that thinking about silly stuff, people eventually came to the idea that a LOT of this religion stuff is silly and not worth wasting time on, so smart people could skip worrying about it for the rest of human existence…

>and, most importantly, Douglas Adams.

Brilliant!

What a loss he was, died too young.

Re: Intruder at the top of the 20 meter amateur band?

#88

Post by tgsovlerkhgsel »

andromeduck wrote: post #30
ajkjk wrote: post #26

I'm sure I'm not the only one who would like to see the whole HFT industry be deleted. What a waste of human intellect.

Arbitrage is good actually. Tigher spreads make transactions cheaper and safer for the smaller players.

This was actually visible on some cryptocurrency exchanges, where the EURUSD exchange rate differed significantly (>5%) from the regular market exchange rate.

I believe that arbitrage within the platform kept the prices and exchange rates consistent (i.e. it didn't matter whether you bought Bitcoin for EUR or first changed the EUR to USD then used that to buy Bitcoin), but of course you could make/lose some money by exchanging EUR USD on the platform then exchanging it back outside (or simply exchanging it on the platform, waiting until arbitragers brought the exchange rate back to normal levels, then exchanging it back).

But in effect, the lack of efficient arbitrage between the platform and the "real world" that allowed EURUSD rates to drift so far meant that how much your coins were worth depended on what currency you bought/sold them for, making the whole thing highly annoying.

The cryptocurrency markets, which seem less mature/complicated/HFT-overrun than the "big" markets, are great for learning market principles.

Re: Intruder at the top of the 20 meter amateur band?

#89

Post by chordalkeyboard »

ska wrote: post #67
allenrb wrote: post #34

Earlier quoted context omitted.

I’ve spent some time working in electronic trading, and I agree with you. Not only is the compensation very comfortable, but it’s the most interesting work I’ve ever done. That’s a tough combination to resist. As a result, it attracts people who should be out there curing cancer, developing new technologies, researching fundamental sciences, and so forth. It’s something everyone around me has acknowledged at one poin…

Once you have enough liquidity that the markets function (i.e. the stuff of actual value to people doesn't get jammed up) it seem the marginal utility of adding liquidity is near zero. Have I missed something?

capital deteriorates and becomes obsolete so executives are constantly maintaining and optimizing their businesses as they respond to market conditions. These trades are how the market chooses who is better and worse at this constant maintenance/optimization. unfortunately capital isn't something you can set up and allow to run indefinitely.

Re: Intruder at the top of the 20 meter amateur band?

#90

Post by wrs »

chordalkeyboard wrote: post #89
ska wrote: post #67

Earlier quoted context omitted.

Once you have enough liquidity that the markets function (i.e. the stuff of actual value to people doesn't get jammed up) it seem the marginal utility of adding liquidity is near zero. Have I missed something?

capital deteriorates and becomes obsolete so executives are constantly maintaining and optimizing their businesses as they respond to market conditions. These trades are how the market chooses who is better and worse at this constant maintenance/optimization. unfortunately capital isn't something you can set up and allow to run indefinitely.

I’m pretty sure it can be allowed to run unattended for several milliseconds at least.
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