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Khisanth Magus posted:What policy of the current Congress or administration has had any real affect on the economy? Nothing. This is all still a hold over from the 44 econ.
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Oct 27, 2017 17:42
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Bitcoin talk was a bit ago but this thread moves fast, my idiot boss, who voted for Trump for a variety of reasons that add up to "I'm scared of the 'other'" has recently really gotten into bitcoin. But he absolutely does not get the concept, he kept telling me Bitcoin isn't like anything else because the price is what it is. I told him "It's like any commodity: it's worth what people are willing to pay. If tomorrow no one wants to buy your bitcoins they're worth nothing, if someone only wanted to buy your bitcoin for a dollar they're worth a dollar. Like literally anything else." He said "Yeah and if tomorrow the sun doesn't come up they'll be worthless." The literal end of the world is more likely than the price of bitcoin going down to him. I even tried to lead him to the answer "If you had a thousand dollars of steaks and I offered you a hundred dollars for it would you take it?" "Of course not." "What if no one is offering you anything higher?" "See, but bitcoin is different because it's always worth what it's worth, I'd find someone to buy it for that price no matter what." "What if you can't?" "What if sun explodes?" He then went on this long rant about "forking", this means that, every once in awhile, bitcoin will just decide to double: where once you had one now you have two! money doesn't do that! "So," I asked, "like a stock split." "You can think whatever you want but it's different because someone decides that the stock splits, bitcoins just fork!" No one controls bitcoins, no one can alter it, bitcoins never just disappear as recently as last summer, bitcoin wasn't invented, bitcoin just IS. The whole thing just gives me a huge headache,
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Oct 27, 2017 17:46
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Duke Igthorn posted:Bitcoin talk was a bit ago but this thread moves fast, my idiot boss, who voted for Trump for a variety of reasons that add up to "I'm scared of the 'other'" has recently really gotten into bitcoin. But he absolutely does not get the concept, he kept telling me Bitcoin isn't like anything else because the price is what it is. I told him "It's like any commodity: it's worth what people are willing to pay. If tomorrow no one wants to buy your bitcoins they're worth nothing, if someone only wanted to buy your bitcoin for a dollar they're worth a dollar. Like literally anything else." He said "Yeah and if tomorrow the sun doesn't come up they'll be worthless." The literal end of the world is more likely than the price of bitcoin going down to him. I even tried to lead him to the answer "If you had a thousand dollars of steaks and I offered you a hundred dollars for it would you take it?" "Of course not." "What if no one is offering you anything higher?" "See, but bitcoin is different because it's always worth what it's worth, I'd find someone to buy it for that price no matter what." "What if you can't?" "What if sun explodes?" I'm sorry in advance for when you find out he embezzled some critical employee fund to cover his losses.
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Oct 27, 2017 17:49
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Khisanth Magus posted:What policy of the current Congress or administration has had any real affect on the economy? I think here it’s more about expectations and attitude which are important and have a real impact on the economy. If businesses think they face a favorable environment they can be confident and expand. And to be honest although Obama did all the technical levers he was never able to inspire he economic confidence in businesses or in consumers. That’s not to downplay the technical approach (stimulus, QE, etc...), but the psychological factor is really important (see Volker vs inflation in the early days).
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Oct 27, 2017 17:49
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Sloober posted:This is all still a hold over from the 44 econ. If you're talking about the markets, that's not true. It's legitimate to say that this is Trump's stock market, if not his economy.
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Oct 27, 2017 17:50
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Speaking of bitcoin https://twitter.com/markets/status/923894112595730434
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Oct 27, 2017 17:50
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Javes posted:Speaking of bitcoin Uh, explain?
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Oct 27, 2017 17:55
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Javes posted:Speaking of bitcoin It's been a long time coming but crypto currencies finally have the attention and legitimacy to really destroy the economy with an investor bubble.
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Oct 27, 2017 17:56
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Boon posted:If you're talking about the markets, that's not true. It's legitimate to say that this is Trump's stock market, if not his economy. I would say Obama put in the technical levers and let the economy grow healthily and at a pretty good rate. At this point I feel the growth is from businesses feeling like they will have a good environment to grow. And I understand why Obama wasn’t super pro business because you have to balance that with other things. But my opinion is that not only is this Trumps stock market but at this point it’s also his economy. We may all die from smog and coal but this is Trumps economy.
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Oct 27, 2017 17:56
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Pander posted:Uh, explain? Buzzwords, Tech VCs are morons, etc.
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Oct 27, 2017 17:56
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Pander posted:Uh, explain? "Blockchain" is the new buzzword for bitcoin-related things. Serious* bitcoin businesses needed a rebrand since everyone caught on that "bitcoin" was almost entirely darknet drugs and scams. *lol
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Oct 27, 2017 17:57
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AnoHito posted:Buzzwords, Tech VCs are morons, etc. To be clear, it is regular old traders being idiots here. VCs aren't the ones driving up that stock's price.
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Oct 27, 2017 17:58
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Duke Igthorn posted:Bitcoin talk was a bit ago but this thread moves fast, my idiot boss, who voted for Trump for a variety of reasons that add up to "I'm scared of the 'other'" has recently really gotten into bitcoin. But he absolutely does not get the concept, he kept telling me Bitcoin isn't like anything else because the price is what it is. I told him "It's like any commodity: it's worth what people are willing to pay. If tomorrow no one wants to buy your bitcoins they're worth nothing, if someone only wanted to buy your bitcoin for a dollar they're worth a dollar. Like literally anything else." He said "Yeah and if tomorrow the sun doesn't come up they'll be worthless." The literal end of the world is more likely than the price of bitcoin going down to him. I even tried to lead him to the answer "If you had a thousand dollars of steaks and I offered you a hundred dollars for it would you take it?" "Of course not." "What if no one is offering you anything higher?" "See, but bitcoin is different because it's always worth what it's worth, I'd find someone to buy it for that price no matter what." "What if you can't?" "What if sun explodes?" hahahah @ forking meaning his money doubles Forking means that one of the two forks eventually becomes worthless. Also, the fork is done by the consensus of a small number of people, probably comparable in number to how many people decide to split a stock.
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Oct 27, 2017 17:58
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haveblue posted:"Blockchain" is the new buzzword for bitcoin-related things. Serious* bitcoin businesses needed a rebrand since everyone caught on that "bitcoin" was almost entirely darknet drugs and scams. Also, most companies that staple "blockchain" onto anything are literally not using blockchains in any way. Bitcoin is really the only thing of note using the technology - it really doesn't have other use cases. source: spent entirely too much time posting in the bitcoin threads, have a deep, complex understanding of how the tech actually functions.
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Oct 27, 2017 18:00
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Duke Igthorn posted:Bitcoin talk was a bit ago but this thread moves fast, my idiot boss, who voted for Trump for a variety of reasons is your boss in control of any purse strings or have any financial authority? he is 100% going to steal money from the company at some point and get caught
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Oct 27, 2017 18:05
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theflyingorc posted:Also, most companies that staple "blockchain" onto anything are literally not using blockchains in any way. Bitcoin is really the only thing of note using the technology - it really doesn't have other use cases. Yeah it should be the new textbook example of ‘solution looking for a problem’
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Oct 27, 2017 18:07
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theflyingorc posted:Also, most companies that staple "blockchain" onto anything are literally not using blockchains in any way. Bitcoin is really the only thing of note using the technology - it really doesn't have other use cases. Yeah, i keep seeing commercials from either AT&T or HP talking about how secure their systems are because they use "blockchain technology". Then they repeat the word "enterprise" while furiously masturbating.
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Oct 27, 2017 18:13
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Duke Igthorn posted:....my idiot boss ....has recently really gotten into bitcoin. ..... You should egg him on.
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Oct 27, 2017 18:13
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Hey man, that bank that needs it's ledgers encrypted but also modifiable by any public actor is totally going to use that blockchain technology. There is probably something wrong with this joke but if day traders don't understand the technology why should I.
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Oct 27, 2017 18:14
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theflyingorc posted:Also, most companies that staple "blockchain" onto anything are literally not using blockchains in any way. Bitcoin is really the only thing of note using the technology - it really doesn't have other use cases. There is some edge case and B2B stuff in development that is using block chain, but it is mainly "settle transactions faster among trusted parties". Nothing Earth shattering, just a little more grease on the wheels to make money move faster.
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Oct 27, 2017 18:15
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my family in law grew up with the Steyer brothers and they're having a loving hoot today lmao at rich folk making national media discourse their preferred method of pursuing grievances.
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Oct 27, 2017 18:20
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TheScott2K posted:Favorable opinions of business schools tend to originate from inside said business schools.
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Oct 27, 2017 18:24
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Pander posted:Uh, explain? Have you ever wanted a really slow database? Well, do I have the thing for you!
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Oct 27, 2017 18:31
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I saw an ad for IBM that was touting blockchain tracking of individual pieces of fruit during shipment.
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Oct 27, 2017 18:43
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TheMadMilkman posted:I saw an ad for IBM that was touting blockchain tracking of individual pieces of fruit during shipment. So they can track up to 8 pieces of fruit a minute? Such computational power.
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Oct 27, 2017 18:45
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Xae posted:There is some edge case and B2B stuff in development that is using block chain, but it is mainly "settle transactions faster among trusted parties". I literally don't see how that's possible. The backbone of the system is a busywork arms race so that only one "general" in the byzantine generals problem can speak at the same time. If all actors are trusted you don't need a byzantine generals solution at all. The entire point of the blockchain is deal with a lack of trust by: 1. Limiting the frequency with which the "generals" can give orders and 2. Incentivizing it so that there is no reason to be a "bad actor". IE, why would you lie, lying just loses you money. There's literally nothing about the tech that's inherently faster, more scalable, or...anything, really. It just "solves" a trust problem. I find Bitcoin's tech extremely impressive - it shouldn't even function poorly. But it does so EXTREMELY poorly and most things claiming "blockchain" are literally just using Merkle trees and slapping the "blockchain" buzzword on it. edit: TheMadMilkman posted:I saw an ad for IBM that was touting blockchain tracking of individual pieces of fruit during shipment.
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Oct 27, 2017 18:51
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https://twitter.com/kylegriffin1/status/923969709401362432 That would be three Republican retirements and Heller likely to lose the primary which is literally half the Republican incumbents in 2018.
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Oct 27, 2017 18:52
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theflyingorc posted:
I'm sure they're just exposing base64 IDs in their regular ERP suite and calling it the blockchain  lol nm: https://www.youtube.com/watch?v=SV0KXBxSoio
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Oct 27, 2017 18:54
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farraday posted:https://twitter.com/kylegriffin1/status/923969709401362432 This trend something we should be afraid of or the repub party? As in does it point to the more radical Republican wing actually being elected or Democrats winning those seats?
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Oct 27, 2017 18:55
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Half and half
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Oct 27, 2017 18:56
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Rinkles posted:This trend something we should be afraid of or the repub party? As in does point to the more radical Republican wing actually being elected or Democrats winning those seats? If he's replaced by Romney then isn't that essentially just the status quo?
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Oct 27, 2017 18:57
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farraday posted:https://twitter.com/kylegriffin1/status/923969709401362432 I hope there's more of this
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Oct 27, 2017 18:57
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Fitzy Fitz posted:If he's replaced by Romney then isn't that essentially just the status quo? I missed the Romney detail.
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Oct 27, 2017 18:58
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Rinkles posted:This trend something we should be afraid of or the repub party? As in does it point to the more radical Republican wing actually being elected or Democrats winning those seats? Fitzy Fitz posted:If he's replaced by Romney then isn't that essentially just the status quo? How well has Trump played with Senators he's attacked before? Now add in the guy that tried to steer the party directly away from Trump as a senator in a blood red state.
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Oct 27, 2017 18:59
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Rinkles posted:This trend something we should be afraid of or the repub party? As in does point to the more radical Republican wing actually being elected or Democrats winning those seats? Well, Romney isn't a populist. Arizona is probably your bellweather there. Nevada is too purple, Tennessee is too economic anxiety, and Utah too Mormon.
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Oct 27, 2017 18:59
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Chaffetz or Romney.
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Oct 27, 2017 18:59
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Doctor Spaceman posted:Yeah, and not just as an open secret in the industry either. There's an interview with Ames from 2000 that's pretty unsettling. Ames and Taibbi have both repeatedly said they made it all up to be gonzo edgelords. You can believe them or not.
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Oct 27, 2017 19:00
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Dude blockchain describes a real thing that is being used for any sort of system that needs secure distributed transaction tracking. Inventory is a big one, where instead of keeping everything centralized you can use blockchain to allow every partner to own their own copy of the ledger. https://azure.microsoft.com/en-us/solutions/blockchain/
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Oct 27, 2017 19:02
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theflyingorc posted:I literally don't see how that's possible. I can't say for sure what they were doing. I sat in on a presentation from E&Y about using block chain to settle transfers faster. It was a high level overview and didn't go into the nitty gritty of implementation.
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Oct 27, 2017 19:03
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Senators retiring is bad for a party. Incumbency is by far the strongest factor in a Senate race, so losing that sucks. It makes the election more difficult to fight, and every Senate race is extremely important. Is Tennessee probably going to elect a red senator? Of course. Is somebody at the RNC pouring themselves a double while staring at the Senate Leadership Fund portfolio? Absolutely.
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Oct 27, 2017 19:06
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