kvh
Joined 17 years ago
Joined 17 years ago
We're working towards a fully open-source execution engine for Patterns -- we want people to invest with full confidence in a long-term ecosystem. For us, sequencing meant dialing in the end-to-end UX and then taking those learnings to build the best framework and ecosystem with a strong foundation. Stay tuned!
Thank you for the kind words and congrats on the great work on Orchest!
Here's a way to reality check the difference: if 90% of Tether holders redeem their deposits tomorrow, 100% of them will get their money back and Tether Ltd will remain 100% solvent and liquid. If 90% of JPMC depositors redeem tomorrow only 10% of them will get their money back and JPMC will be insolvent.
Where would you rather have your money?
A common misconception is that banks use "fractional reserve" lending, in reality private banks create money out of thin air when making loans, constrained only by regulated capitalization requirements (and the obligation to take the write-off on their own balance sheet should the loan default) [1].
Another common misconception is that unregulated banks lead to financial instability and panic. The theoretical and historical evidence for this is pretty weak [2] -- people are much more vigilant with their money when banks are unregulated, and much more aware of the inherent risks of financial systems.
(If all of our regulations worked so well, why are our financial crises worse than ever? cf 2008)
[1] https://www.bankofengland.co.uk/knowledgebank/how-is-money-c... [2] https://www.jstor.org/stable/1814673
Looking for front-end dev (angular / typescript) to accelerate our app development. We are silicon valley veterans (Google, Square) building a data pipeline platform based on functional reactive components. Initial medium-term project to start, open to remote or local in SF.
Email me at [email protected]
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