crypto_throwa

Joined 7 years ago

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Jul 26

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Comment · 7 months ago

Careful buying ETFs as a way to short the stock.

The ETFs are designed such that at any point in time, they are roughly 2x short the stock, but they do this by buying derivatives over time which means that the stock decreasing by X or increasing by Y doesn't mean you'll gain or lose 2X or 2Y over a long time period. If the stock increases first, then decreases, you'll probably lose money even if it ends up lower than when you bought it.

I think just shorting the stock or buying long dated put options is probably a better way to do it.

https://www.investopedia.com/articles/investing/092815/risks...

This is not financial advice.

Comment · 1 year ago

Without open source, end to end encryption is useless. It's not hard to hide a piece of code that defeats the encryption in closed source code.

Comment · 1 year ago

If you look at who supports this theory, it's all ego-driven software engineers who believe they can solve physics from first principles, ignoring hundreds of years of evidence that these laws do apply.

Highly recommend reading this book for how these sci-fi theories are being used to promote eugenics, climate destruction, and pseudoscience: https://www.amazon.com/More-Everything-Forever-Overlords-Hum...

Comment · 1 year ago

As soon as the article mentioned Ray Kurzweil, I knew there was no scientific basis for the claim.

Comment · 1 year ago

I'm in a chat with one of the engineers on DOGE (young college dropout), and they're trying to recruit more young college dropouts to work on DOGE.

I would characterize some in this group as believing they're smarter than everyone else or anything that's been done before, so yes I think it's pure hubris.

There are a lot of bright people in the chat working on very important things, but they're not the ones joining DOGE.

Comment · 7 years ago

Here's one situation where it is very different.

Say I get paid 100 BTC for doing a job worth $100/BTC at the time or $10000. Now, say BTC drops to $1/BTC. I owe income tax on the $10000. Let's say I owe $2000 (20%) in taxes. However, I only have $100 now. My effective tax rate is 2000%.

This does allow for a small deduction of capital gains each year. However you can only deduct $3000 a year in capital gains. In a larger scenario, this would take decades to fully receive your total deduction.