771–780 of 790 posts
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Well, that's what the 'shadow' in 'shadow bank' means: less/different regulation than a normal bank. That's not necessarily a bad thing, btw.
Where's the "bank" in this "shadow bank"? You're describing a casino with a money printer.
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> smells like Binance played 4D chess all along It's not really "4D chess" to screw over your competitor to corner the market. That's like, business 101.
Typically you don't expect Bank of America and Chase to do this to each other.
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I'm not too familiar but can you elaborate on how the screwing happened.
CZ tweeted "Oh shit, FTX is basically insolvent, we're gonna have to dump all our FTT magic beans!" or words to that effect. Then, when FTX predictably tanked, he stepped in and generously offered to buy out FTX.
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This comment was generated by AI. Does HN allow for AI comments on submissions?
But clearly this particular attempt isn't doing so well.
I'm sorry for your loss.
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This comment was generated by AI. Does HN allow for AI comments on submissions?
The guidelines don't specifically call out that case, and I don't think they need to. If someone can automate the process of generating good HN comments I don't see a problem. https://xkcd.com/810/ But clearly this particular attempt isn't doing so well.
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Centralization is more efficient than consensus building.
Only if the central entity can be trusted not to become a corrupt rent seeker. (Looks meaningfully at TicketMaster)
My point is that things tend towards centralization because the market rewards efficiency.
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Yes, because I'm not talking about "how it came into existence," I'm using the actual textbook definition of the word.
There is a LOT of -archy overhead to the Internet.
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> Because it is currency itself that you measure everything else against. So what? I cannot see the significance of that. There are many possible measures of value. > if you undid all transactions then nothing is left -- but with transaction fees their sum is a negative number. But you need to measure this in something. Yes? So what's the important difference between cryptocurrencies and traditional currencies?
The thing is you can buy anything in this world for money. That's what money is for. Thus, we measure these things in money.