391–400 of 437 posts
> Most news accounts seem to portray the scale of the bankruptcy as relatively small. This is a key point. They lost $16B in customer deposits. LTCM lost $4.6B in investor funds. Enron lost $11B in shareholder capital. Interestingly, while Madoff is widely quoted as having lost $65B, that was almost all fabricated paper wealth, actual losses were around $18B and $14.4B of that was recovered and returned. All of these…
> Most news accounts seem to portray the scale of the bankruptcy as relatively small. This is a key point. They lost $16B in customer deposits. LTCM lost $4.6B in investor funds. Enron lost $11B in shareholder capital. Interestingly, while Madoff is widely quoted as having lost $65B, that was almost all fabricated paper wealth, actual losses were around $18B and $14.4B of that was recovered and returned. All of these…
What's LTCM?
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I think there's a huge difference with someone who has a huge appetite for risk, and someone who is taking risks, essentially without oversight, while on dopamine-replacing drugs. Many people who work in conventional finance are well aware of how brain chemistry changes (caused by illness, medication, illicit drugs, or emotional and life changes) can push someone from being in control while pursuing risky but profita…
Putting so much blame on the drugs seems like a way of casting Bankman-Fried as an addict/victim. In reality he's a thief and has been from the start of this scheme. He has a sociopathic disregard for others and cynically covers that with cheap talk of being an altruist.
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The auditor that Kraken used claims to be "one of the top 25 largest accounting, consulting and technology firms in the U.S.". Is the idea that they aren't "auditors"?
> auditor that Kraken used claims to be "one of the top 25 largest accounting, consulting and technology firms in the U.S.". Is the idea that they aren't "auditors"? Armanino was FTX's auditor [1]. [1] https://www.afr.com/companies/financial-services/ftx-collaps...
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You are still using infinite universes: expected value and probability still are calculated across an ensemble of parallel universes.
This is the worst comment I have ever read. There are reasonable definitions of expected value and probability that do not require infinitely many universes to figure out whether you should raise pre-flop with aces.
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> Elon: Blockchain twitter isn't possible, as the bandwidth and latency requirements cannot be supported by a peer to peer network, unless those "peers" are absolutely gigantic, thus defeating the purpose of a decentralized network. Anyone able to evaluate this comment? Is this another "poorly batched 1000 RPCs slowing down home timeline" remark?
It's true, and the RPC comment is also very plausible It's definitely not as ridiculous as what lots of experienced engineers are oddly saying e.g. simply open up Twitter in Chrome's devtools and look at the networking tab -- I get 148 requests that finish in 6.3 seconds That is very plausibly "1000 poorly batched RPCs" that makes Twitter slow in other countries -- if it's 6 seconds for me, it's easily 20, 30, or 60…
Simple changes like enabling HTTP/3 and IPv6 would dramatically improve performance in locations outside of the United States. Google developed those specifically to work around performance issues in places like India, or mobile networks pretty much anywhere. Since Twitter is mobile-first, it surprises me they haven't jumped on board with these kinds of advancements.
What were all those thousands of people doing over there!?
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Have you read Kraken's own page about that? Here is a quote: "The results of our most recent audit were once again verified by top-25 global accounting firm, Armanino LLP. " (1) So from this I read that Kraken has done audit themselves and then some other firm has verified it. This (if true) is called attestation, and not audit. Attestations are an empty claim with no proof in the tokenbro industry. And second issue…
Unless I’m misunderstanding things (as a non-finance person that is very possible), this is not a normal audit, but instead proof, that they actually have the customer tokens they claim to have.
For even more context of how bad SBF was at League of Legends, a large part of their player-base is children and teens. You would not expect a normal functioning 30 year old man to lose to 12 year olds after years of playing with the frequency he did.
From what I understand (only seen a game, not played it), League of Legends is more similar to Starcraft where it's about strategy, knowledge and timing than the necessary very fast reaction times of teenagers found in a first player shooter. You would expect even retired people to be good at the game if they played enough. Regardless, playing video games, doing drugs, looking dishevelled and being over weight are al…
Imagine if someone played chess for years and were still at the lowest rank you can reasonably sink to. You would think that person has a learning disability.
It doesn't add up that someone that went to MIT in physics, something that correlates well to logically consistent thinking, would be this bad. He must have declined from drug use, a mental disorder, sleep deprivation.
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Do you have any data to back that up? Do you not understand that the lowest ranked players on the server are going to disproportionately include children that are bad?
https://www.statista.com/statistics/1018224/league-of-legend... https://theglobalgaming.com/lol/average-age-player According to that data, most players are between 18 and 34 years old, with children and teens being only 12% of the demographics.
Then I already pointed out that the rank SBF was in is populated with the worst players, which is more likely to be children that dont have a fully developed brain.