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cr0y posted:Can someone tell me what exactly the point of Facebook's internet money is? What is the worst case scenario with it? you need a credit card or bank to use venmo or PayPal or the like. This sidesteps that requirement and theoretically allows unbanked people a way to conduct transactions. Also it dodges international transfer fees because there's no currency conversion at the time of transaction. Worst case scenarios are bitcoin like speculation, currency manipulation by facebook, criminal use that side steps banking laws, and probably some others I'm not thinking of. Could also be problematic converting to actual currency too (who sets the value of a zuckbuck to the dollar? To the pound? Or rinmenbi?)
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Oct 24, 2019 02:09
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ryde posted:Yeah, think M-Pesa with a global market and global transfers. Thats probably the goal. Well, they asked what the worst case scenario is and we should all assume this is where it's heading.
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Oct 24, 2019 02:10
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cr0y posted:Can someone tell me what exactly the point of Facebook's internet money is? What is the worst case scenario with it? This is speculation on my part, but: They're trying to create an "ecosystem" and make it easier for money to change hands within that. If you have your own currency, you can get people to exchange money across nations and other currencies. You can reduce the barrier of entry to them using your platform as well, giving users a way to ask for money, trade services and favors, etc.etc. The company that controls that system gets two principal things, that I can tell: they can skim a little off the top of each transaction as a "service fee" or similar, but the real value is tons of data about the transactions themselves. Depending on how it's set up, they could get varying degrees of information on their users. Note that this will probably be true even if the transactions themselves are anonymized. Google makes tons of money on ad revenue by selling the targeted profiles they create of people using the services they provide for free, like email and search, even though the people buying this access have no insight into the data that does the targeting; this would be something similar. Worst case scenario it becomes the new global currency, and it's all in the hands of a company not known for having its users best interests at heart (and with no way to remove them). Realistically, though, worst case is more likely that a bunch of people get scammed and have no recourse except what FaceBook wants to give them. DarkHorse fucked around with this message at 02:12 on Oct 24, 2019 |
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Oct 24, 2019 02:10
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fwiw, predictit odds for impeachment went from 70% to 78% in a couple of days. For stuff like this, moves often take place because of inside baseball activities going on in DC
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Oct 24, 2019 02:11
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It’s a terrible location. No golf courses few hotels...just awful. Stay away!
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Oct 24, 2019 02:11
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Rodenthar Drothman posted:To feed your starving cat family. A fancy feast in every bowl, a ball with a bell in it on every floor, a laser light on every wall, catnip in every toy. This is the America we need to strive for.
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Oct 24, 2019 02:11
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DarkHorse posted:They're trying to create an "ecosystem" and make it easier for money to change hands within that. If you have your own currency, you can get people to exchange money across nations and other currencies. You can reduce the barrier of entry to them using your platform as well, giving users a way to ask for money, trade services and favors, etc.etc. The company that controls that system gets two principal things, that I can tell: they can skim a little off the top of each transaction as a "service fee" or similar, but the real value is tons of data about the transactions themselves. Depending on how it's set up, they could get varying degrees of information on their users. yeah it's this, not company scrip. facebucks would be real handy when it comes to running an online marketplace
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Oct 24, 2019 02:11
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What’s the exchange rate from Libra to Canadian Tire Dollars
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Oct 24, 2019 02:11
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Zotix posted:Was it ever disclosed how these ~30 Republicans actually got to enter the room? I can't imagine a SCIF in the capitol building is just sitting unlocked while the testimony is going on in-front of committee members. Our system is not actually to tell white guys in suits not to do literally anything ever. In retrospect it was kind of a big mistake that maybe they should have seen coming Relatedly, oxsnard posted:Imagine being white, not homeless looking and actually getting busted for shoplifting lol She has some really obvious mental health issues and outside of a couple of photos for social media or whatever she absolutely looks a lot more like someone possibly in crisis Ice Phisherman posted:Why are republican politics such a loving shitshow? Rhetorical question, sure, but being a party that is almost without exception white and male and where advancement is predicated upon whiteness and maleness is maybe not a very good system for advancing people with potential. Especially when the potential that matters at the moment wrt republican politics is 'ability to reach out and not alienate demographics they 100% need to win over to remain relevant in the future' As with other things, this was a big oversight that perhaps could've been seen coming Herstory Begins Now fucked around with this message at 02:15 on Oct 24, 2019 |
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Oct 24, 2019 02:12
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oxsnard posted:fwiw, predictit odds for impeachment went from 70% to 78% in a couple of days. For stuff like this, moves often take place because of inside baseball activities going on in DC the Nats actually made it to the world series and won their first game, so there's definitely something strange going on in DC.
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Oct 24, 2019 02:12
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luxury handset posted:yeah it's this, not company scrip. facebucks would be real handy when it comes to running an online marketplace There's a reason why credit card company stocks are well loved by value investors, even at elevated valuations. "Compounders" as they're called. Having a working currency would make revenues less susceptible to cyclical ad spends by a few key industries
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Oct 24, 2019 02:14
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oxsnard posted:fwiw, predictit odds for impeachment went from 70% to 78% in a couple of days. For stuff like this, moves often take place because of inside baseball activities going on in DC Doesn't PredictIt start getting weird when things get closer to a sure thing? Like, bets are limited to $500 or something, so the market can't adjust if a bunch of people want to buy more of a (not that risky) proposition but have already hit cap?
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Oct 24, 2019 02:14
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Herstory Begins Now posted:She has some really obvious mental health issues and outside of a couple of photos for social media or whatever she absolutely looks a lot more like someone possibly in crisis She reminds me a lot of Laura Loomer. Both of them are insane narcissists who crave attention at all costs for any reason and were smart enough to recognize a niche where they could grift for attention, but too lazy to actually learn anything about what they are supposed to do there. They got a truly immense amount of attention simply for stepping into the spotlight shined by the conservative griftosphere, but then once the applause faded and they were expected to do something they just vomited and started crying and got arrested live on stage.
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Oct 24, 2019 02:18
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I refuse to believe this is real. Come the gently caress on
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Oct 24, 2019 02:18
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Stereotype posted:She reminds me a lot of Laura Loomer. Both of them are insane narcissists who crave attention at all costs for any reason and were smart enough to recognize a niche where they could grift for attention, but too lazy to actually learn anything about what they are supposed to do there. They got a truly immense amount of attention simply for stepping into the spotlight shined by the conservative griftosphere, but then once the applause faded and they were expected to do something they just vomited and started crying and got arrested live on stage. Laura Loomer seems substantially higher functioning, this girl speaks in pure word salad
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Oct 24, 2019 02:19
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TulliusCicero posted:I refuse to believe this is real. Come the gently caress on Nothing is too stupid for this reality.
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Oct 24, 2019 02:19
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Charlz Guybon posted:So, that very enthusiastic to vote stat posted earlier These are really apples and oranges. One is a share of the total vote and another is percentage of X party voters feeling enthusiastic (even though plenty of people vote without becoming fired up). oxsnard posted:fwiw, predictit odds for impeachment went from 70% to 78% in a couple of days. For stuff like this, moves often take place because of inside baseball activities going on in DC Who is the 20-30 percent betting that the House will not impeach? Lord, there’s dumb money out there.
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Oct 24, 2019 02:20
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haveblue posted:The whole building is secured against unauthorized intruders from outside, it’s not secured against congresspeople deciding to flagrantly violate their own rules. I feel like this post sums up a really large number of problems.
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Oct 24, 2019 02:20
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DarkHorse posted:Doesn't PredictIt start getting weird when things get closer to a sure thing? Like, bets are limited to $500 or something, so the market can't adjust if a bunch of people want to buy more of a (not that risky) proposition but have already hit cap? There's a limit to how much a single person can purchase (up to $800 per contract or something). I mopped up in 2015-17 (a lot from betting on Trump) but I realized I was starting to develop a problematic relationship with gambling. Anyways the single person limit helps prevent whales from outwardly moving prices. When lots of "normal" people start to get wind of stuff, you see these defined moves out of coin flip territory (30-70%) and usually it's surprisingly predictive
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Oct 24, 2019 02:20
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DarkHorse posted:Doesn't PredictIt start getting weird when things get closer to a sure thing? Like, bets are limited to $500 or something, so the market can't adjust if a bunch of people want to buy more of a (not that risky) proposition but have already hit cap? There is a maximum amount of money you can wager, so after awhile all the addicts are maxed out. Additionally you can’t buy as many “sure things” as you can “long shots” since the max is a dollar amount, not a share quantity.
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Oct 24, 2019 02:20
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DarkHorse posted:Doesn't PredictIt start getting weird when things get closer to a sure thing? Like, bets are limited to $500 or something, so the market can't adjust if a bunch of people want to buy more of a (not that risky) proposition but have already hit cap? Is there a reason for the cap?
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Oct 24, 2019 02:20
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Charlz Guybon posted:Is there a reason for the cap? It's some loophole so they can avoid being classified as a casino/bookie (it's totally a bookie though)
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Oct 24, 2019 02:21
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Chef Boyardeez Nuts posted:Omar's district is really, really blue, like D+20,which means that its going to be hard to recruit strong challengers. Why run into that headwind when you can run for state office which is far more favorable? Grifters abhor a vacuum so a pretty young woman who wears a big cross and touts the GOP line is going to at least get initial interest and a shot at the money spigot. There are four other republicans running in that primary, Stella isn't likely to get more than single digit support, if that. I wish people would stop posting poo poo about her.
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Oct 24, 2019 02:26
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TulliusCicero posted:I refuse to believe this is real. Come the gently caress on This is like one of the least dumb things to happen in the last 12 hours!!!!
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Oct 24, 2019 02:28
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oxsnard posted:It's some loophole so they can avoid being classified as a casino/bookie (it's totally a bookie though) Charlz Guybon posted:Is there a reason for the cap? The CFTC has issued guidance that “political indicator markets” operated by non-profit universities are not regulated if they have a limit of 5000 traders per market and a limit of an $850 investment by any specific trader on any market.
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Oct 24, 2019 02:29
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Every loving day feels like it is equally possible that we're either seeing the death rattle of the GOP or the total fascist takeover of the US and an end to a lawful Republic. It has been like this for three years. I'm exhausted.
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Oct 24, 2019 02:38
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Zophar posted:Every loving day feels like it is equally possible that we're either seeing the death rattle of the GOP or the total fascist takeover of the US and an end to a lawful Republic. It has been like this for three years. I'm exhausted. Exhaustion is the end goal of the fascist in order to get you to accept their rule. Go take a break.
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Oct 24, 2019 02:41
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Anyways, I did the math a few years ago. Yes/No markets with sufficient trading volume that are dependent on the actions of a small group of people (so not elections, and no random poo poo like "number of trump tweets") that reach 85c resolve that way 95%+ of the time. Realized odds skyrocketing starting at like 75-80%. At 95 cents, the realized odds approach 99% during the time that predictit has been around. So snapping up as many 85c contracts as you can is sort of like shorting volatility. Long term, people are irrational and remember the long shots panning out. Risks are asymmetrical. Could easily clear 10% a year compounded until you run out of contracts/markets available to buy. I let discipline go too often though so that's why I stopped. Big moves in these markets have meaning though so I still keep an eye on them
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Oct 24, 2019 02:42
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Zophar posted:Every loving day feels like it is equally possible that we're either seeing the death rattle of the GOP or the total fascist takeover of the US and an end to a lawful Republic. It has been like this for three years. I'm exhausted. i feel like the latter is alot less likely in the intimidate future. trump doesnt have the support to go full fuehrer. if this kills the gop(probably not, though i hope it cripples them for a while) gently caress if i know.
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Oct 24, 2019 02:43
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https://twitter.com/Olivia_Beavers/status/1187173698610040833?s=19
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Oct 24, 2019 02:44
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cr0y posted:Can someone tell me what exactly the point of Facebook's internet money is? What is the worst case scenario with it? If you’re doing a money transfer business you can make money off the float. The profits on 1.5 billion people‘s worth of money transfers would be enormous
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Oct 24, 2019 02:45
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https://twitter.com/Olivia_Beavers/status/1187173835713449985?s=19
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Oct 24, 2019 02:45
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TulliusCicero posted:I refuse to believe this is real. Come the gently caress on I know right? Who in gods name would name their child Matt Schlapp?
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Oct 24, 2019 02:47
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so basically what the did was always actually illegal.
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Oct 24, 2019 02:48
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Does that mean that Biden not only had the White House's backing but Congress's too? I don't know much about the specific details on how that was authorized.
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Oct 24, 2019 02:49
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https://twitter.com/RudyGiuliani/status/1187168034835894272quote:if my client was a terrorist
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Oct 24, 2019 02:52
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quote:1) Here's a tic-toc of what happened when 25-30 GOPers barged into the secure area in the SCIF to observe the closed door deposition of Pentagon official Laura Cooper.
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Oct 24, 2019 02:53
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Zophar posted:Every loving day feels like it is equally possible that we're either seeing the death rattle of the GOP or the total fascist takeover of the US and an end to a lawful Republic. It has been like this for three years. I'm exhausted. Imagine having felt this way between 2006-2008 too. They'll never go away completely.
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Oct 24, 2019 02:54
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Ummmmmmmm https://mobile.twitter.com/RudyGiuliani/status/1187168034835894272
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Oct 24, 2019 02:57
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Totally a thing that a not-guilty person would say.
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Oct 24, 2019 02:58
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