TapWaterBandit

This is too real haha. I do this exact thing.

> But now I’m sitting on this cash, and like Matthew McConaughey says in wolf of Wall Street , they’re fucking addicted

Only point of contention is that when you have a currency experiencing sustained inflation over any medium/long term time horizon, it makes sense people would want to hold anything over than cash. Anyone who saved in cash (even using Term Deposits) from basically the 70s to today in any currency has had their purchasing power destroyed.

And this has been a major problem for them since then. Look up the "Triffin Dilemma". If a nation's currency is the reserve currency it pretty much must run a trade deficit and one of the major impacts will be loss of manufacturing prowess. Happened to Great Britain when the Pound was the reserve currency too.

I think "follow the money" is the correct call but not like this. I think having the reserve currency be the USD means there is more demand for the currency than is needed to trade with the USA (because USD is used for all sorts of other international trade as well including things like buying oil). This makes the USD relatively too strong which makes their exports relatively too expensive.

This then has all sorts of flow on impacts throughout the manufacturing process and incentives inside the country.

My base case is still that the USD being the reserve currency is the problem. There will persistently by more demand for USD than is justified by the need to purchase American exports, so the currency is artificially high. This makes their exports more expensive than they should be relative to others, which hurts manufacturers.

Having a currency that is too strong for your economy always does this, look at the situation in European nations under the Euro.

Not really, way more kids are getting caught in the crypto scams than are making money doing them.

At this point crypto clearly isn't a bubble. And why would it be? Cryptographically secured money has some advantages over fiat money. This doesn't mean fiat will disappear and all crypto will succeed. But most fiat currencies haven't really "succeeded" either.

Money is a very "efficient" market in this sense because each individual can decide do you want to hold currency X or currency Y or currency Z? And there are pros and cons to each that lead to price discovery between currencies. And I think as time goes on it is becoming more and more apparent that many central banks do not take the management of their countries currency seriously and so people choose alternatives. This is what well-functioning markets look like. Consumer choice and incentives.

Yep.

And, of course, let's not discuss:

- tourism + air travel

- increasingly large cars far bigger than required from a utilitarian perspective

- luxury good production

- theme parks/fireworks displays

- cruise ships

Etc.

Bitcoin/crypto opposition is 95% pushed by embedded financial interests that will use any lever to protect their control over money and the power it gives them.

Legally, probably. I don't know the laws around environmental protection in that area so there may still have been a violation but it appears he was convicted here for violation of property rights as this is public land. But this whole situation is more about the property rights and how the lake here will be used for recreation rather than ecological concerns if I'm reading correctly.

Interesting observation about McDonald's.

I work as a doordasher and have never once spoken to or interacted with anyone who works at the company.Well that's not quite true, I had an order with issues once that went to a CS rep in the Philippines who I chatted with via messaging.

For all intents and purposes my "boss" is a computer.

I don't think that is the point he is making.

More that lawyers will hoard contracts but there will be financial incentives to defect early (the idea being to sell your contracts while the price is high).

Then that lawyer's contracts will become the mass-produced "good enough" boilerplate and be used widely driving down the value of hoarding contracts at all.

Lol yep, thought the same thing.

HN landed hard on the "sucks to be you" side of things with Musk, curious to see where this ends up.

Welding is incredibly important in modern construction. All steel-framed buildings are held together by welding pretty much. Not surprisingly it is quite highly paid (at least in my country).

The full quote is:

> Last Friday, Japan’s Ministry of Health, Labor and Welfare released the results of an annual study of the number of homeless people *in the country’s parks and riverside areas.*

So this isn't the full count of homeless, just the ones living in specific park areas.