Hacker News Reader

aeyon Andrew Yang's ideas on automation and mass unemployment are not based in reality

Nowadays 100%. 20 years ago China didn’t have a high technology sector that could have supported large scale factory automation, and factories where built to scale labor.

100% agree with regulation. That’s why US trade policy is the main cause of the decline. It should reflect regulatory arbitrage. It’s utterly pointless to save the environment in the US and poison it in China.

aeyon Andrew Yang's ideas on automation and mass unemployment are not based in reality

Yang is totally wrong about automation. The main cause of the shift of manufacturing from US to China is trade policy and China’s monetary policy.

If automation was the problem, then US would be price competitive on goods with China. Somehow US automation is only good enough to eliminate jobs in the US, but not good enough to compete with cheap labor in China.

aeyon Bitcoin Energy Consumption Index

Read the report, it's 2 trillion of revenue for payments only, not all of finance. That report doesn't cover trading, derivatives, mortgages, etc... 1 trillion of payments revenue comes from credit lines, about 1 trillion is fees moving money around.

Bitcoin is just one settlement layer. There is no reason for my day to day transactions to settle there. My day to day payments can be settlement on a chain with much higher throughput and faster finality and different security assumptions.

There is also no reason why I can't lend my funds to 100m user credit cards directly without a middleman through software either.

So whats the cost comparison of moving $100,000 out of China into the the US via bitcoin vs the traditional banking system?

aeyon Bitcoin Energy Consumption Index

https://arxiv.org/pdf/1904.13302.pdf

only 2 nodes away from failing :)

aeyon Bitcoin Energy Consumption Index

The world is. There is no engineering reason why it’s so expensive to move numbers around in a bank.

In comparison the search engine market is 170 billion. If a google sized company or decentralized network could reduce the 2 trillion global spend on payments to 170b, that would be fantastic regardless of how much it spends on preventing double spends.

aeyon Bitcoin Energy Consumption Index

At the cost of 2 trillion a year. Or 1 trillion if if you only count service fees and not liquidity.

https://www.mckinsey.com/~/media/mckinsey/industries/financi...

aeyon SEC blocks the Telegram ICO – what this means, and what happens now

Eh, magic cards have independent value from the company, and MtG sells them at a fixed price to consumers.

If you want a decentralized TON, get all the investors together and launch a genesis block with the open source code. That’s basically what EOS did.

aeyon SEC blocks the Telegram ICO – what this means, and what happens now

SEC is blocking their launch. On the face of it, telegram has been complient with the SEC up to now and have filed exemptions for their sale.

https://www.sec.gov/Archives/edgar/data/1729650/000095017218...

On their own discounts are not illegal.

I think what’s obvious is that the network is not truly decentralized and depends on telegram and investors expect to profit from telegrams work on the network. So they should probably file an s-1 and follow the blockstack route.

What would have been ironic, is if TON was truly decentralized and independent of telegram than the network would have been launched anyways.

aeyon SEC halts Telegram's $1.7B token offering

It’s a big deal. A lot of projects followed a similar path so we will have to wait and see what objection the SEC had with telegrams specific offering. A reg-a/s-1 would likely take them a year if they started it today.

aeyon SEC halts Telegram's $1.7B token offering

If you think filing for an IPO is just some paperwork, then yea :)

aeyon SEC halts Telegram's $1.7B token offering

Except that ethereum and eos basically get a pass by the SEC.

aeyon SEC halts Telegram's $1.7B token offering

Offering is any time the token is issued, like on launch. The word is misleading since TG is not doing another sale. They actually complied with SEC during the sale. This is the launch which requires the tokens to be liquid for the network to function. My guess is that TG will file for a reg-a like blockstack.

aeyon SEC halts Telegram's $1.7B token offering

This isn’t a block on another telegram’s sale, but on their launch. Telegram filed an exemption for their original sale, and have been compliant with the SEC.

https://www.sec.gov/Archives/edgar/data/1729650/000095017218...

What this action threatens is the SAFT model. It’s not clear what steps TG needs to take to disassociate themselves from the launch such that TON is decentralized and no longer a security. Or if they need to file a reg-a or s-1 before launch.

[edit for clarity]

aeyon BPF at Facebook and beyond

There is no Linux usecase asking for it. We happen to be using bpf outside of the kernel.

aeyon BPF at Facebook and beyond

We would love to, maybe in a few months as we stabilize the changes.

One challenge is that bpf upstreaming is much harder. We had to add support for relocations, spilling, multiple return values, and a few other things that might not be needed by the C bpf folks.

aeyon BPF at Facebook and beyond

BPF is awesome. We build a full rust toolchain that targets it https://github.com/solana-labs/rust

aeyon For the first time on record, the 400 wealthiest Americans paid a lower tax rate

Why can’t we have a flat income tax and a ubi?

aeyon Paypal Withdraws from Facebook's Libra Cryptocurrency

Next week: PayPal announces Pal, the cryptocurrency for friends.

aeyon Anduril, a startup from Oculus founder Palmer Luckey, now valued at $1B

Why does DoD care about illegal immigration? Mexico is not about to invade. This is useless to their mission.

If they are going to build it and hand it of to border patrol, then Congress should fund it with the border patrols budget. Which they won’t, because this is as useless as a physical wall. So funding it with the money taxpayers allocated for the DoD is the definition of corruption.

aeyon Anduril, a startup from Oculus founder Palmer Luckey, now valued at $1B

Since when are unlawful crossings a defense issue? Is Mexico sending an invasion force ready to storm the capital?

Soviet Union used the army to police immigration as well.

aeyon Anduril, a startup from Oculus founder Palmer Luckey, now valued at $1B

Then why aren’t they deploying this on the US/Canadian border? Or Alaska? I can see Russia from there.

This whole thing smacks of corruption.

aeyon Another Interstellar ‘Visitor’ Is Headed Our Way

How is this possible? If space outside the solar system is empty, then the probability of 2 extrasolar comets should be 0 during my lifetime.

aeyon India Loses Contact with Probe Just as It Prepares to Land on Moon

Yes. There is no country that couldn’t use the funds to solve humanitarian problems, and there are no humanitarian problems where money is the only solution.

aeyon The Dipole Drive: A New Concept in Space Propulsion

Ah, because the electrical field loops? Just thinking of the top of my head, couldn’t this pulse? Basically capture material then shoot it out?

aeyon The Dipole Drive: A New Concept in Space Propulsion

I believe this canoe is picking up cannonballs along the way.

aeyon Apple Card restrictions include no jailbreaking or cryptocurrency purchases

Can I buy Warcraft gold? Or rmb?

aeyon Time, Randomness, and a $100k Prize to Forever Change Blockchain

This is rad. You can actually build a fairly secure vdf with a sequential hash function using intel’s sha256 instructions, and verify the output across all the available simd lanes.

aeyon The Banana Trick and Other Acts of Self-Checkout Thievery (2018)

Maybe you should steal, and still be responsible for your actions or inaction (I am not recommending this). If you consider them evil, then sabotage is justifiable.

Do we have an objective set of morals that are above the law? Was the Soviet government evil? What about any corporation that is not carbon negative?

aeyon The Banana Trick and Other Acts of Self-Checkout Thievery (2018)

If you believe a corporation to be evil, then every possible act against them might be justifiable.

This is a question of ethics. What is the right behavior to resist evil?

For example, you could follow our own governments guide :) https://www.cia.gov/news-information/featured-story-archive/...

aeyon American kids would much rather be YouTubers than astronauts

Or they are just much more intelligent these days and are attuned to what they want.

Do you want to spend months at a time in a soda can that can explode at any moment surrounded by vacuum? Or be a modern day bard?