Does generative AI facilitate investor trading? Evidence from ChatGPT outages

Post by ProllyInfamous » Thu, Jul 18, 2024, 7:33 AM UTC

chant4747 wrote: post #30

ProllyInfamous wrote: post #26

Background: I am personally a long-term value investor ( a la Sir Templeton or Buffet †), but annually breakfast with a retired "numbers guy" (who's currently building his short-term trading strategy). For decades he worked finance for among the largest accounting firms in the world... Since 2016, our mutual friend and I have been adamently suggesting he look into "this bitcoin thing" — his response was typically [di…

> now if only he had listened back in 2016 =D So your investments could be used to screw other people out of their money who are similarly financially illiterate/insecure? It’s kind of crazy to me that there are somehow still staunch cryptocurrency proponents out there who have somehow ignored all the negative press it has received.

Post by ProllyInfamous » Thu, Jul 18, 2024, 7:40 AM UTC

janalsncm wrote: post #83

staplers wrote: post #80

Earlier quoted context omitted.

They cannot alter transactions, only deny/duplicate them. Their node would be blacklisted by those working around censorship. Guys cmon its really childish the boring same issues thrown around when theyve been answered and addressed a million times. For a forum of "hackers" most are just hacks.

I don’t think that answers the question. Denying transactions is certainly an issue. If it is true that the majority of mining power is in China, only a minority is outside of it. What mechanism does Bitcoin have for a minority of nodes to deny the transactions of a majority of nodes?

Post by johnisgood » Thu, Jul 18, 2024, 8:45 AM UTC

janalsncm wrote: post #82

codetrotter wrote: post #41

Earlier quoted context omitted.

> a self evident train of scams and security incidents Because a bunch of bad people jumped on the bandwagon to exploit others. Bitcoin != “crypto” Bitcoin was the original and it’s still here. And it will continue to be here. The goal of bitcoin is not to “make money”. Bitcoin is money. A new kind of money. One that no central entity can control. One of which there will only ever be 21,000,000. No one can print more…

Bitcoin is too volatile to be a store of value and too slow and expensive to be useful for transactions. It is public so it is not even great for illicit transactions. > Fiat is weak money Try explaining that to the IRS when they ask for taxes in dollars. > Bitcoin is a force of nature Asteroids are also a force of nature. That doesn’t make them good.

Post by bamboozled » Thu, Jul 18, 2024, 10:49 AM UTC

dorkwood wrote: post #38

ProllyInfamous wrote: post #26

Background: I am personally a long-term value investor ( a la Sir Templeton or Buffet †), but annually breakfast with a retired "numbers guy" (who's currently building his short-term trading strategy). For decades he worked finance for among the largest accounting firms in the world... Since 2016, our mutual friend and I have been adamently suggesting he look into "this bitcoin thing" — his response was typically [di…

> His response was simply "I never got embarrassed asking the computer any finance questions, even stupid/simple ones; I've always been the finance guy with answers so I forgot how to be humble in unexplored topics." I think I'm the opposite. My feeling is that anything I type into ChatGPT gets stored in a database, ready to be leaked at some future date, or read by prying eyes without my knowledge. I'm more careful…

Post by staplers » Thu, Jul 18, 2024, 3:59 PM UTC

zorked wrote: post #96

ProllyInfamous wrote: post #93

Earlier quoted context omitted.

Majority of verification nodes are not in China. No single jurisdiction approaches anywhere close to majority, with #1)USA@21% † †: https://bitnodes.io/

The "verification" nodes don't do anything to prevent censorship by miners. The threshold isn't quite 50%+. If one of the 49% nodes mines a block with a would-be censored transaction, the censoring notes have to make an economic decision to try to mine a replacement block and then a second block on top of that to rewrite the chain. At 100% this is easy, but at just 51% it's a costly gamble that will frequently fail a…