254 karma · joined January 3, 2019
Discipline is fundamental to good software engineering: you can’t force it with Microservices.
I think that the methods outlined on the website will help but I think the concept is inherently anti-abuse.
Context: I worked in community management for many years, dealing with some of the worst of abusive online behaviour.
I like WeWork, WeWork has value, but ping-pong and baristas don't make for 10x valuations.
Also it’s worth noting that the same systems are used by lots of companies, especially tech companies: they go as far as taking photos to print on temporary badges. Photos of guests is certainly not unique to WeWork, most startup offices I’ve visited do it.
https://www.wired.com/story/the-worlds-recycling-is-in-chaos...
I’m quite attracted to writing “good” code — in that I think about theory and principles a lot — and “DRY” is not part of my vocabulary. I very much agree with your point that over-engineering is a problem but DRY is not related to that.
“[...] each tetherUSD in circulation represents one US dollar held in our reserves (i.e. a onetoone ratio) which means the system is fully reserved when the sum of all tethers in existence (at any point in time) is exactly equal to the balance of USD held in our reserve.”
“[...] each tetherUSD in circulation represents one US dollar held in our reserves (i.e. a onetoone ratio) which means the system is fully reserved when the sum of all tethers in existence (at any point in time) is exactly equal to the balance of USD held in our reserve.”
Where does the 5% come from?
If we were in a fantasy land where Tether wasn’t fraudulent then the price variance of Tether on exchanges would be so minuscule that there would be no arbitrage opportunity for anyone to take advantage of. Your hypothetical profit opportunity only exists because Tether is (ultimately) fraudulent.
Remember that Tether was pitched as a 1:1 USD backed cryptocurrency that could be exchanged 1:1 at any time (in both directions). The mess that it is now (only liquid on exchanges at a variable rate) is not what Tether was marketed as.
Tether (as promised) is the equivalent of you accepting $100 USD from your friend and giving them $100 of Monopoly money and promising them that at any time they can trade their monopoly dollars for your real dollars... and you won’t ever use the USD for anything, it’ll be locked away untouchable by you. How do you profit from that? You can’t lend it, you can’t invest it, you can’t use it as collateral, it has to be unencumbered at all times and you have to incur the costs of managing it.
Read the original whitepaper and try and identify a profit opportunity. This is all before considering that Tether is a fundamentally flawed concept: if Tether could operate a reliable banking relationship, so could others, and Tether would be pointless.
“Innocent until proven guilty” may be the best we have for a legal standard but it is far from perfect and applying it anywhere outside of the legal system is a mistake regardless of how you feel about innocent people losing their careers through the court of public opinion.
Outside of the legal system “innocent until proven guilty” is a very common cause of the revictimisation of victims.
Some people like to cling to the idea of innocent until proven guilty because it’s a nice sentiment that makes things easy — “I don’t have to make a decision about this person, I can just agree with the court outcome” — but it’s meaningless outside of the legal process. Many people do not have a clear understanding of what it takes to prove guilt in court (and also do not understand what can derail a conviction) and would be surprised to learn how difficult it can be in some situations where there is (to the layman) clear evidence.