That's from The Call of the Wild.

[0] https://nootropicsdepot.com/l-theanine-capsules/

Being altruistic can be immensely rewarding.

You have tremendous privilege. Go help some people with that money.

Don't just think of yourself.

Try taking up meditation. Balance your mind. Try to stop your thoughts.

You are super lucky.

Also, consider your death. No matter how much money you have, you can't take any of it with you. One day you're going to die. It's all going away. Enjoy what you have now and ideally help some others. That will bring you purpose.

I consider myself to be a pretty reasonable person and I think the value in something like Bitcoin is as a backup or alternative to the traditional system. Similar to how someone would invest in gold. Except Bitcoin is much easier to transfer, requires much less space to store, etc., vs gold. I think 95% of crypto is bullshit though, and there are a lot of scams.

If you look at recent bank collapses, high inflation, etc., I think a reasonable person might question how long modern monetary theory can go on like this. I'm not a gloom and doom person. I still hold fiat, haven't given up on banks, still invest in US treasuries, stocks, etc. But I think holding some in crypto and gold, etc., also makes sense.

This is... not true [1]. We'd need to use something like the Lightning Network. The traditional financial system also has layers build on top of it, so it makes sense that you wouldn't only use the Bitcoin base layer.

[1] https://voltage.cloud/blog/bitcoin-education/how-many-transa...

However, I'm wondering, how would "1. An annual wealth tax on crypto holdings to fund (a) a victims’ compensation fund and (b) an enforcement agency;", make any sense? Why would someone who owns, say, Bitcoin, be required to pay a "wealth tax"? What is the rationale? Just because there are other people who use the Bitcoin system illegaly? If USD is used illegally, should everyone who holds USD pay a "wealth tax"?

In terms of "3. Reporting requirements for crypto transactions, crypto-fiat or DeFi, above $10k, individually or in aggregate. Civil fines for first time violators. Criminal referrals for repeat, large-scale violators.", how do you propose reporting works for personal wallet addresses, or DeFi protocols? It seems to me like the implementation of that would be a nightmare, not to mention the concerns with privacy.

I like that it helps reduce the walls of class names since the classes are on their own lines in the tailwind styled component.

Comments URL: https://news.ycombinator.com/item?id=32767885

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Bitcoin is an example of a system of trust that has worked pretty well so far (although it requires a lot of electricity, but that is the trade off). There are also people on the Bitcoin core team, so there is some trusted element there.

Crypto will likely continue to innovate on algorithms, given the chance.

I think there can be trust in people, plus algorithms, with algorithms taking over more over time. This is already happening even in traditional finance, i.e. giving more control over to algorithms that participate in HFT. People do monitor those, but people monitor crypto, too, and maybe the failures in crypto so far mean too much control has been given.

I would argue that some more things in finance can be automated, without things being so black and white (i.e. no control vs total control given to algorithms). I do think the trust model given to governments and traditional finance gatekeepers can be iterated on, with some regulation involved too. I don't think we've figured everything out yet.

I've felt it a bunch of times, but I've worked through it with meditation (without drugs)...

I think psychedelics just bring out deeper parts of the mind. I don't do them anymore, but I used to, so I have some experience. I'm not a teetotaler, I still drink alcohol and smoke weed sometimes, but I'm done with psychedelics for the time being.

I'm more familiar with NodeJS but I'm working with a team that is leaning towards using Python for web scraping, so that's why I'm asking. They said spinning up multiple processes in Python is easier so at scale it will work better.

I know you can use the Cluster module to have child processes in NodeJS, but in my experience it's a bit of a pain to use, although it's not always required to use anyway, at least when only using NodeJS as a web server (as long as you have multiple NodeJS instances, in case one goes down). Web scraping is a bit different though.

Curious if you have any thoughts on this.

However, due to the 21 million max supply cap, not even everyone in the world today can own a whole Bitcoin.

Measuring things in satoshis (100 millionth of a bitcoin) will probably become more common, assuming demand continues to increase. I think it will, due to Bitcoin's scarcity, and the ever increasing realization of the need for a hard asset, as inflationary monetary policies continue around the world.

I also think an important distinction is that several of the other popular cryptos do not have a hard supply cap, or it's so high as to not matter.

Ethereum does not have a hard supply cap. With EIP-1559, some ETH is burned, causing some deflationary pressure, but still, there is no max cap in place at this time. The Shiba Inu meme coin has a 1 quadrillion supply cap, which is so high as to not matter at all. People can own a bunch of Shiba Inu, and maybe they like having a high number of something, but IMO, it just doesn't have the long term resilience of Bitcoin.

By the way I'm not hating on Ethereum, I think it has a place too, but Bitcoin is different. I have no idea why people invest in Shiba Inu except just to try to ride momentum, but I don't see how that will work out well long term (or maybe they believe in ShibaSwap, I'm not sure).

Anyway going back to Bitcoin, another benefit is allowing the unbanked to economically participate with others using digital money just by having a smartphone or computer, and an internet connection. Otherwise they have to rely on physical cash.

The hard money aspect of Bitcoin, and the ability to transfer money to anyone across the world over the internet, even the unbanked, are two aspects that I consider a "revolution". I do think Bitcoin needs the Lightning Network to scale, but I don't see any issue with that.

> You don’t own “web3.”

> The VCs and their LPs do. It will never escape their incentives. It’s ultimately a centralized entity with a different label.

> Know what you’re getting into…

I know there are concerns with Bitcoin's energy consumption, but I still think it's one of the most innovative things to come in the last decade, and I don't think it should be grouped with things like NFTs, etc.

I like some other altcoins, like Ethereum and some other smart contract platforms, so I'm not just a Bitcoin maximalist. However, personally I think NFTs are a lot of hype. I don't think Bitcoin is the same as that. There were no early VC investors in Bitcoin (with the exception of Tim Draper, but he wasn't invested from the start of the network).

Now the VCs are looking for the next big altcoin and investing in that. I.e. some altcoins that I even think have potential, like Solana, are also heavily VC backed. In that regard people should also know what they are getting into.

[1] https://news.ycombinator.com/item?id=29642794

[2] https://twitter.com/jack/status/1473139010197508098

Comments URL: https://news.ycombinator.com/item?id=29642794

Points: 2

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