This one hit home... the first time I ever saw Claude do it I really liked it. It's amazing how quickly it became the #1 most aggravating thing it does just through sheer overuse. And of course now it's rampant in writing everywhere.

Comments URL: https://news.ycombinator.com/item?id=46948289

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- 12 months runway - $100k/mo. burn rate - 4% APR

Gives you about $25k interest.

Seems worth it to me.

Keep in mind stablecoins aren't a product built for Americans, they're built for people outside the US financial system to give them access to some of the benefits of the US's relatively solid money.

In 2022 when confidence in stablecoins plummeted after the Terra collapse, $20 billion in Tether was liquidated in a month - $10 billion of that in a single day: https://www.coingecko.com/en/coins/tether

Through that black swan event Tether did its job, processing redemptions for collateral dollar for dollar.

People hold dollar-backed stablecoins because they believe the US dollar to be the most durable unit of account on the planet.

All the proof you really need for that is that most crypto users outside the US still consider the value of their crypto tokens in terms of how many US dollars it’s worth.

The author of this article talks about this being a “parasite” to the US monetary system, but it’s hard to think of a better thing that could’ve happened for the US. Not only has it reinforced that dominance… it’s also driven hundreds of billions of dollars of US treasury bills purchases from providers like Tether and USDC.

https://tether.to/en/transparency/?tab=reports

But yes I could see how work travel only could make them feel like carbon copies - both from the mindset you'd be in and from the types of places you might only go for work.

If you want to celebrate your birthday at the moment earth reaches the same spot around the sun as when you were born, then we’d all have the same issue - we’d have to celebrate it 6 hours later every year, reseting every 4 years.

February 29 is very much a new day… which simply doesn’t exist on non-leap years.

"basically a photo op" is such a strange way to think of that.

A good store of value is scarce, durable, transferable and divisible - and I think most people agree that you compromise scarcity to get price stability.

We don’t have to take anyone’s word on this though you can just look at what endowments and wealth funds hold to see what people believe are the best stores of value: https://www.nbim.no/en/the-fund/investments/#/

Stores of value are things like stocks, bonds, treasuries, real estate... and yeah commodities like gold and bitcoin. People don't care so much about volatility if they're planning to park their value there for a long time.

A good definition for "real" cryptocurrency is whether or not it's possible for it to be banned.

Comments URL: https://news.ycombinator.com/item?id=33303163

Points: 2

# Comments: 0

The topic is relevant, but the format of long Q&As with a lot of info on the people and the company, which to me as a random HN reader feels irrelevant, plus the click-baity title, made it look out of place on the front page.

Hope this is constructive.

Comments URL: https://news.ycombinator.com/item?id=27043890

Points: 1

# Comments: 1

When Tether started, most financial institutions weren't open to working with cryptocurrency companies, but the fact that it's still the top stablecoin by value is troubling since there are plenty of better options now.