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withdavidli

913 karma · joined April 14, 2014

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withdavidli··on MakerDAO’s “DAI” stablecoin is breaking, as predicted
would have included that, but tether changed that part of their legal section. it now includes more legalese that i'm interpreting as can redeem, but US residents cannot be customers. no idea of the implications of the latter for people trading it on exchanges.

"Absent a reasonable legal justification not to redeem Tether Tokens, and provided that you are a fully verified customer of Tether, your Tether Tokens are freely redeemable.

Persons ordinarily resident in, and nationals of, Prohibited Jurisdictions or Sanctioned Persons under Applicable Sanctions Laws; Persons and Government Officials believed or suspected to be transacting in the proceeds of corruption, bribery, or other crimes under Applicable ABAC Laws; and Persons believed or suspected to be engaged in money laundering or terrorist financing under Applicable AML/CTF Laws are not permitted to be customers of Tether; are not permitted to cause Tethers to be issued or redeemed; and, are not permitted to hold or transact in Tether Tokens.

Furthermore, residents of certain U.S. states are not permitted to be customers of Tether; are not permitted to cause Tethers to be issued or redeemed; and, are not permitted to hold Tether Tokens.

Beginning on January 1, 2018, Tether Tokens will no longer be issued to U.S. Persons."

withdavidli··on MakerDAO’s “DAI” stablecoin is breaking, as predicted
Tether gets criticized for having no released third party audits that they actually hold the hundreds of millions of dollars that is backing their token. They say they have frequent audits on their website, their transparency update that they called the Friedman audit, in the same paragraph states that it does not constitute as an audit[0].

In the same “audit”, Friedman stated they did not evaluate if tether owned those accounts, had access to the funds, if those funds represented anything else besides the backing of tether[1].

[0]https://tether.to/announcement-transparency-update/

[1]https://tether.to/wp-content/uploads/2017/09/Final-Tether-Co...

withdavidli··on Bitcoin has little shot at ever being a major global currency
Fun fact, There are actually both gold and bitcoin backed credit/debit cards.
withdavidli··on Uber Co-Founder Travis Kalanick Said to Plan Sale of 29% of Stake
I like Uber as a service. But you shouldn't make the argument of 10 years ago. They started in 2009, depends on smartphones to use the app. If it started 10 years beforehand it would be 1999, they wouldn't even be able to really start.
withdavidli··on The Worst Job in Technology: Staring at Human Depravity to Keep It Off Facebook
You sound like things are in absolutes, black and white, it’s not.

Would you remove child porn off the internet? How about a rape victim’s photos and videos? If you could delete something that would cause people to commit suicide, would you?

withdavidli··on Tax-Free Bitcoin-To-Ether Trading in US to End Under GOP Plan
While it was deemed to be treated as property, IRS never gave guidance on ability to treat it as like kind transaction. Accountants have been asking for this clarification for years.

SEC treating ICO as a security. IRS needs to come out with more guidance, but doing taxes is going to be a pain with crypto to crypto. Not looking for trouble with IRS, especially when gains were plentiful for so many this year.

Pay your taxes, you don’t want to be the example the IRS makes. PR not going to look good for people in crypto, “majority of crypto owners refusing to pay taxes”.

withdavidli··on The Tulip Fever Was Exaggerated
My middle school teachers on the east coast spoke about the dot coms and how they lost most of their investments in it.

Maybe people don’t talk about it much these days. People in the company I’m with spoke about their experiences working during them. Some got lucky when their financial advisor told them to at least sell their first vesting (their stock would have dropped 80-90% by next sell window), others weren’t so lucky.

withdavidli··on Goldman Sachs Plans to Clear Bitcoin Futures When They Go Live
This is exactly what happened with ETH few months back on GDAX. 300 to 200, crashes the site in seconds, triggered pretty much all stop losses and margin calls. When down to a penny.
withdavidli··on Vision Insurance Is Making Glasses More Expensive
Trying on frames at their brick and mortar helped my decision making a lot. Every time I have to pick out frames, only a handful looks decent on my face out of more than a thousand.

Did Zenni and 39dollarglasses before. Prescription is okay, but some of the frames came crooked and chipped easily.

withdavidli··on Tesla’s Electric Semi Truck Gets Orders from Wal-Mart and J.B. Hunt
Not an expert in this field, with costs or anything. My guess if not subsidies, it's a bet that electric energy will be cheaper, or batteries get more efficient to meet that price point in the 2-3 years it takes to ramp up production. In that time, they can get pre-orders.

This reminds me of car companies advertising guaranteed gas prices for certain types of cars back when gas started hitting $3/$4 mark. I would see commercials of new cars saying $2.50/g for the next 5 years or something similar.

Found one: https://www.caranddriver.com/news/chrysler-extends-gas-card-...

Chrysler, $2.99/g for 3 years if you buy new car.

withdavidli··on These Are Twitter's New Rules for Preventing Abuse and Harassment
Is this a common phrase? I googled variations of it and only turned up less than 10 results.

If that's what it means, then yes, I agree that private entities don't have to host it.

withdavidli··on These Are Twitter's New Rules for Preventing Abuse and Harassment
It does unless Citizens United v. Federal Election Commission is outdated [0].

[0]https://ballotpedia.org/Citizens_United_v._Federal_Election_...

withdavidli··on Google Pixelbook Is Google’s New Chromebook
That sucks. I'll note to just return a broken one and buy another new one to get full warranty. Hope you were able to resell it without much of a loss.
withdavidli··on Request for Education Startups
Never even heard of Iron Yard, being funded by Apollo (U of Pohoenix) makes me think it was nothing but a cash grab, likely same as the reviews of Berkeley Extension school’s bootcamp.

This is a business where poor level of service sinks a company fast. Reviews get online from the first few cohorts, if they’re bad the high caliber students who do their research will opt out of applying. These are the students likely to get jobs from career fair which the bootcamp makes their recruitment fee.

withdavidli··on Equifax security freeze PINs are the timestamp of when you request the freeze
I'm not using anything that Equifax set up in case it waives any of my rights. This is how bad it's gotten, people are afraid/untrusting of their security/protection measures.

Thank you for linking to more accounts of this.

withdavidli··on Equifax security freeze PINs are the timestamp of when you request the freeze
Anyone else confirmed this? Don't know who Tony is, usually like more sources that a tweet.
withdavidli··on Good News for Young Strivers: Networking Is Overrated
Tldr, networking is not overrated, just poorly implemented by many.

Poor choice of title for a good article. If you enjoyed this article and like to learn to implement value added techniques I suggest Ramit Sethi's blog iwillteachyoutoberich, not the scam it sounds like lol.

Building a network is important to increase opportunities. It's much easier to be on the receiving end of people wanting to connect with you once people know you can provide value/you have accomplished something they are interested in.

withdavidli··on Blue Apron Plans to Cut 24% of Staff Barely a Month After IPO
think they are using it as a synonym for sponsor. it does show up under the definition for underwrite, never heard of it used this way either.
withdavidli··on Pornhub now supports interactive toys
can you link me to some of the analysis? be interesting to read about what they chose as sites.

remember when i had some guardian software that blocked trackers. surprising amounts from chinese gov't and chinese universities.

withdavidli··on Pornhub now supports interactive toys
McAfee talked about porn sites being paid to download spyware/keylogger software onto devices. Click play on a video etc, something is downloading in the background. I think of this as how some sites/software in the early 2000s automatically downloaded a toolbar when installing.

I'm sure many porn sites do this, not sure about the more "reputable" ones. Storing/streaming all that info can't be cheap.

withdavidli··on In Towns Already Hit by Factory Closings, a New Casualty: Retail Jobs
That was middle school through college. I'm in non-tech role, but live in the valley at big tech.

HN decent place for news about industry and more insightful comments than other news sites.

withdavidli··on In Towns Already Hit by Factory Closings, a New Casualty: Retail Jobs
Worked in a mall for a decade. As money moves out so do retail stores. Small mom and pop shops barely sustain because of little to no labor cost. Small businesses that do have to hire employees close down fast because labor cost becomes unsustainable due to low margin business. Worse is when big box stores moves out, they tend to be the attraction that drove people to the mall in the first place, and smaller stores got business from being "discovered" along the way in high traffic locations.
withdavidli··on Uber rolls out in-app tipping
Drivers have to retain a 4.5 star rating to remain drivers I thought. I think that's a good enough bar. But I guess understandable if they're limiting to 4.9s+

It would be a good business model, like women can request women only would be a premium.

withdavidli··on Uber rolls out in-app tipping
They're charging teens more?? The people who earn the least if any at all... is there a special teens services that I'm not aware of?

And who asked for tipping besides drivers? Hate the concept. Charge us more or split the fare with them better.

withdavidli··on Bancor Is Flawed
Got over it. Only heard about it when the DAO got hacked, then when it spiked to 40, 60 and decided to get back into crypto when it hit 90, took a while for money to go through and got in at 200.

It's impossibly unlikely to capture all the gains, but you still can win. Even if it's not 30x+. I'm okay with anything that beats regular investment vehicles over time. Win some instead of griping about all that you could have won.

withdavidli··on Cryptoeconomics 101
>It'd be cool to have digital cash, but I think we're decades away.

Maybe for the US, but China is already prepping for it and have released statements earlier this year of completing a trial run for it. Putin just spoke with Ethereum founder this weekend as well.

Money is technology, both are power. China and Russia can make decisions on this quicker because they are ran by few people at the top. Macron has a Ledger Blue from his time as minister of economy. Italy, Australia, and Japan treats cryptocurrency now or very soon as a currency. Think Russia is taking the US route and treating it as a property for now.

And extreme care from the fed? It's the blind leading the blind. There's no exact science to economics. Should I replay Greenspan's admittance that his model of the world was wrong?

And we only have to worry about the current coin community if it takes over. But there are already coins that are getting backing from large financial institutions. Governments can also create their own centralized coins so it'll end up being pretty much the same as it is now.

withdavidli··on Record low housing inventory is 'freaking us out' says Redfin CEO
posted this below. know your tax exemptions: http://www.bankrate.com/finance/taxes/capital-gains-and-your...

agent fees is a big reason that I don't buy a house. unless you're in a booming market it's tough to make back that fee.

withdavidli··on Record low housing inventory is 'freaking us out' says Redfin CEO
this isn't true. 250k-500k can be tax free by meeting few requirements (living in the house >2 years).

http://www.bankrate.com/finance/taxes/capital-gains-and-your...

withdavidli··on Tesla Rejected Uber Partnership on Self-Driving Cars
If they give a positive value to brand then why not a negative value.
withdavidli··on Yahoo’s Marissa Mayer to Make $186M from Verizon Deal
People have literally murdered for less, or risk their lives for less. US military enlisted gets around 30k per year +30k to 100k sign on bonus. Officer level around 60k/yr. mercenaries around 30k/month. Firefighters and police officers 50-100k year in most places in US. And many of them probably don't sleep well at night. Firing a person from a job is relative, the ones above would probably prefer it over the extremes of what their jobs asks of them.
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