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Sam Bankman-Fried was associated with effective altruism, not e/acc (although there's a link between the two).
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Alameda lost tens of millions because of a fat fingering mistake
31–40 of 197 posts
Re: Alameda lost tens of millions because of a fat fingering mistake
#32Reading stories like this makes me wonder why I don't have a long term trade in place for a low amount and hope to fish a good one during a flash crash.
Seen them on the stock market too. Back in my day I wrote a few trading bots, they never went anywhere positive after about a week of profit.
Seems to me now that the smartest robo-trader algorithm is...
10 wait for human mistake...
20 goto 10Re: Alameda lost tens of millions because of a fat fingering mistake
#33[flagged]
Re: Alameda lost tens of millions because of a fat fingering mistake
#34Honest question: How do you determine that something like this was an honest mistake? Once, when I was much younger, I had a side gig dealing poker at an underground club in NYC. One morning at the end of 10 hours dealing, I accidentally exposed a burn card which turned out to be something one of the players was representing (bluffing), with about $10k on the table. It was an honest mistake - literally a fat finger m…
How does the hand end in a case like that?
Re: Alameda lost tens of millions because of a fat fingering mistake
#35Reading stories like this makes me wonder why I don't have a long term trade in place for a low amount and hope to fish a good one during a flash crash. Seen them on the stock market too. Back in my day I wrote a few trading bots, they never went anywhere positive after about a week of profit. Seems to me now that the smartest robo-trader algorithm is... 10 wait for human mistake... 20 goto 10
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Re: Alameda lost tens of millions because of a fat fingering mistake
#36Honest question: How do you determine that something like this was an honest mistake? Once, when I was much younger, I had a side gig dealing poker at an underground club in NYC. One morning at the end of 10 hours dealing, I accidentally exposed a burn card which turned out to be something one of the players was representing (bluffing), with about $10k on the table. It was an honest mistake - literally a fat finger m…
Not a poker player, so maybe I'm missing something obvious, but: How did he think you were cheating? You had no way of knowing what that card was, right? And if you did somehow know what it was, surely you could have pre-arranged more subtle ways to tip off a player you were conspiring with?
Re: Alameda lost tens of millions because of a fat fingering mistake
#37Reading stories like this makes me wonder why I don't have a long term trade in place for a low amount and hope to fish a good one during a flash crash. Seen them on the stock market too. Back in my day I wrote a few trading bots, they never went anywhere positive after about a week of profit. Seems to me now that the smartest robo-trader algorithm is... 10 wait for human mistake... 20 goto 10
I believe, the traditional exchanges either won't fill outrageous trades or would undo them if the counterparty can prove it was an honest mistake.
Re: Alameda lost tens of millions because of a fat fingering mistake
#38Honest question: How do you determine that something like this was an honest mistake? Once, when I was much younger, I had a side gig dealing poker at an underground club in NYC. One morning at the end of 10 hours dealing, I accidentally exposed a burn card which turned out to be something one of the players was representing (bluffing), with about $10k on the table. It was an honest mistake - literally a fat finger m…
How does the hand end in a case like that?
On the house, especially if players are usual customers.
Re: Alameda lost tens of millions because of a fat fingering mistake
#39Interesting to see Binance lie and say it was an algo mistake as opposed to a human one.
Re: Alameda lost tens of millions because of a fat fingering mistake
#40Honest question: How do you determine that something like this was an honest mistake? Once, when I was much younger, I had a side gig dealing poker at an underground club in NYC. One morning at the end of 10 hours dealing, I accidentally exposed a burn card which turned out to be something one of the players was representing (bluffing), with about $10k on the table. It was an honest mistake - literally a fat finger m…
I played poker at casino and these kinds of mistakes happen all the time.