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May 25, 2024 23:31
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- Vox Nihili
- May 28, 2008
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https://twitter.com/unusual_whales/status/1745195869518098604
HODL and BRRR tickers, loving epic....
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Jan 11, 2024 01:20
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- Woke Mind Virus
- Aug 22, 2005
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Going all in at open
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Jan 11, 2024 01:24
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- Mr Hootington
- Jul 24, 2008
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I'M HAVING A HOOT EATING CORNETTE THE LONG WAY
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How do you look at that and think yes this is legit.
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Jan 11, 2024 01:25
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- Nothus
- Feb 22, 2001
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Buglord
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Lol at those fees. What if we made pump and dumps legal
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Jan 11, 2024 01:31
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- Xaris
- Jul 25, 2006
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Lucky there's a family guy
Lucky there's a man who positively can do
All the things that make us
Laugh and cry
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Oh honey. Bitcoin is a legitimate currency now.
Yep. Welcome to the future.
https://a.uguu.se/wfxtmeOf.webm
Xaris has issued a correction as of 05:10 on Jan 11, 2024
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Jan 11, 2024 02:00
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- Skinnymansbeerbelly
- Apr 1, 2010
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If I am ever forced to use or touch an internet coin I will become a terrorist
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Jan 11, 2024 02:07
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- mycomancy
- Oct 16, 2016
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Hm. I wonder if future people will look back at this and say that today is the day when poo poo really kicked off.
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Jan 11, 2024 02:07
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- Xaris
- Jul 25, 2006
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Lucky there's a family guy
Lucky there's a man who positively can do
All the things that make us
Laugh and cry
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I think the economy is probably doing really well and will only improve. What a historic day.
god bless bidenomics 🙏🙏🙏🙏🙏🙏🙏 🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀
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Jan 11, 2024 02:12
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- spacemang_spliff
- Nov 29, 2014
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wide pickle
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lol so is Bitcoin still an unregulated security
I don't understand how they can endorse a Bitcoin ETF but not Bitcoin itself
Can I start a Sinaloa cartel ETF?
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Jan 11, 2024 02:22
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- spacemang_spliff
- Nov 29, 2014
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wide pickle
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Bitcoin will end up becoming load bearing and thus eligible for unlimited bailouts. Those bailouts have to be in real money though sorry another crypto simply won't do.
It'll happen when $BRRRs wallet gets hacked or oops they didn't actually have the coins they claimed to
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Jan 11, 2024 02:23
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- Rectal Death Alert
- Apr 2, 2021
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Bitcoin will end up becoming load bearing and thus eligible for unlimited bailouts. Those bailouts have to be in real money though sorry another crypto simply won't do.
Bitcoin hasn't been about bitcoin for like 8 years now
Once it got supercharged with Tether in 2017 it turned into a fanciful concept that websites "trade" back and forth on their own internal servers because the blockchain can't function with any kind of real activity.
The actual bitcoin protocol and the fact it's useless for a currency has nothing to do with it anymore. You could probably shut down the cryptocurrency itself at this point.
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Jan 11, 2024 02:26
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- Paradoxish
- Dec 19, 2003
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Will you stop going crazy in there?
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so was like chatgpt trained on papers written by high school students and college freshman who turned in rough drafts they wrote the night before their papers were due, because that's what the writing style always feels like. it writes like it's trying to pad out an word count requirement with the few things it was able to glean from a cursory google search
It's trained on gobs and gobs of SEO and SEO-like content. That's generally what's being referred to when you see "paid trainers" or similar referenced, along with just the absolute mass of freely available SEO blog bullshit on the internet. The writing is completely unmistakable as the general tone and style that all the big content mills pushed their writers to produce. You can also confirm this to a degree by poking it on certain SEO-heavy topics where you're all but guaranteed to get the same wildly correct misinformation that you'll find on the first 10-20 pages of a Google search.
The hype crowd will absolutely insist you can get the better LLMs to produce writing in a variety of styles and tones, but you really can't. It almost always degrades back to the same structure with word and phrasing substitutes.
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Jan 11, 2024 02:28
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- spacemang_spliff
- Nov 29, 2014
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wide pickle
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I hate the future so much lol
The bazingas won
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Jan 11, 2024 02:35
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- FUCK COREY PERRY
- Apr 19, 2008
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You, the Government, is feeble worthless gormless bloated mewling sickling who can't be trusted with money. The private sector? Very good, very smart, very lean, very entrepreneurial spirit, the best brains.
So you turn on the money printer, you say, if I 'loan' these financial institutions and hedge funds $100 trillion dollars for free, they will "invest" that $100 trillion dollars into the economy. That $100 trillion will grow, by capital spirit, to $300 trillion on economic value and GDP growth. The corporations can split off that money for capital expansion which then raises their productive forces and use it to invent new productive and rent-seeking entities. When it comes time to "pay" us, the weak feeble feds back, it will be worth vastly less than when we gave it to them, but they have generated new GDP growth so that devaluation of our loan is OK because now we have more money from economy = good.
Now you can ask, what about inflation, doesn't printing money devalue the dollars in circulation? Well, yes, but the "value" of the money print that goes into "investing" outpaces the growth of inflation so the increased "GDP" means the devaluation is miniscule because our economy = gooder which means we produce and consume goods even more efficiently than before thus the $10 to build an Oreo under "old bad economy" now only costs $8 with "new good economy". Just don't ask what happens if we put all the money printing money into real estate
Also that's why you have 100000 nukes, non-stop genociding war machines, and tightly control the petrodollar as well as control every other country's currency so you don't get negatively impacted.
if that soudns insanely stupid, that's because it is
one of the fun things the 15 years of ZIRP revealed is just how insanely bifurcated the economy is. you have the fictitious capital economy, and the normie people (labor) capital economy. the former where the production of wealth went on without the aid of labor, and solely by the reproductive force of capital and money supply. this capital-reproducing-capital going into it's own form of reproduction and with additional money supply did see massive inflation, take for example luxury art or yachts or the SPY/DOW.
take for instance, this here is nearly all inflation caused by money printing
or this, also mostly caused by money printing
but for much of it, the normie people economy didn't experience inflation outside of increased rentseeking. that changed recently for a number of reasons, primary of which the reproductive forces of capital driven solely by accumulated-capital itself wasn't profiting enough profits and had to seek ventures elsewhere, and at the same time the money printing supply started trickling into the normie ppl economy and causing it to skyrocket.
good postin
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Jan 11, 2024 02:42
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- FUCK COREY PERRY
- Apr 19, 2008
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Simply put, quantitative easing is a fancy term for a strategy that turbocharges a national central bank's ability to influence "interest rates" by buying up debt from commercial banks or selling debts to banks.
The central economic theory that animates QE is neoliberalism. Another way to think about neoliberalism is that it's a "bank-run economy" instead of a "producer-consumer economy". This means that the major mandate of the Federal Reserve is that by allowing banks to run the economy, you can directly impact the producer-consumer economy.
Under normal operating conditions, commercial banks are required to keep a certain amount of reserves on hand. To handle the fluctuating reserves, banks "borrow" from the Federal Reserve at a rate that is set by them. This ripples out into the regular economy as banks will pass on that cost and may require you to pay higher interest on things like car loans and homes, which has an inverse relation on price. In theory, when interest rates are high, home prices come down, and therefore the economy "slows" as less people are spending money.
A unique attribute of commercial banks is that they effectively create money out of "thin air". Due to reserves being just a small percentage required to cover its assets, banks can create loans out of nothing. From the commercial bank's perspective, any savings that is deposited with them is a liability - they are on the hook to being able to give you your money when you want it. Conversely, debt products they introduce into the market is an asset from their point of view.
Said another way - the loan you take from a bank is a liability from your point of view, but for a bank, that's a productive asset in which they receive both interest and will recoup your eventual principal. Even more simply - banks exist to introduce debt into the economy, which are then used to make claims ONTO the producer-consumer economy.
Thus, a bank run economy means that credit is extremely important. There has to be enough businesses and people to proliferate loans onto, and there has to be enough real assets (such as houses) for those loans to then be applied to.
What ends up happening in these circumstances is that there's only a finite amount of real assets that can be secured with debt - but debt itself is infinite. Debt can be created out of nothing, and since it is compounded, has an exponential rate of return than normal assets. Think of credit card debt as an example - one of the reason why people are buried is that they are paying minimum payments but after a year, they end up owing more than they started with (assuming something like a 20% rate)
In such cases, speculation becomes not only rampant, but the only way to grow such an economy. A key component to this is assets end up inflating. A common misunderstanding is why housing prices rise at all - it's not tied to the real value of land nor the goods and services provided by things like libraries, parks, etc, but by banks inflating prices of houses by appraising them higher and higher in order for loans to be secured against them. This is why housing nearly took out the entire world's economy in 2007 - as banks became ultra wealthy by proliferating as much debt and asset inflation into the economy, eventually wages and productivity could no longer keep up. Nearly 80% of all debt in the US is tied to housing and mortgages - if housing teeters, banks fall, and therefore, countries fall.
QE is a response to this debt proliferation that occurs in an economy that is run by credit. To stabilize the bad debt that ends up staying on the books of banks, instead of writing them down and restructuring the economy in a clean slate, QE attempts to stabilize banks by infusing them with "cheap" credit. The fed effectively reduces interest so low by swapping bonds that they also create out of thin air to commercial and institutional banks. Note that this means that banks are literally getting nearly free money, sometimes even EARNING money when interest rates become negative, as the Fed proliferates the economy with credit.
The effect of this is that this money is then lent out by commercial banks for all sorts of ventures. In theory, this is supposed to go to productive forces - IE, loans to a company that will open a new factory and employ people. In reality, due to rates of return being much higher from financial speculation than actually investing into real assets like factories, plants, etc, all of this credit ends up going into equally speculative ventures - things like derivates, credit swaps, fly by night tech companies, etc.
hella good postin
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Jan 11, 2024 02:44
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- Scarabrae
- Oct 7, 2002
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posting some favorite youtubes to celebrate
https://m.youtube.com/watch?v=Fn310KaOxnU
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Jan 11, 2024 02:51
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- thechosenone
- Mar 21, 2009
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Counterpoint: Bitcoin is a black hole that can suck up even a supernova of quantitative easing. If it gets hooked up to the money hose it defeats it, breaking everything. Mark my words it is bailout proof. Putting more money in is either just as bad as everything else or worse if the people bailed out run off with that money too.
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Jan 11, 2024 02:53
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- spacemang_spliff
- Nov 29, 2014
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wide pickle
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I hope Bitcoin destroys the great satan
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Jan 11, 2024 02:55
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- gradenko_2000
- Oct 5, 2010
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HELL SERPENT
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Lipstick Apathy
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I hate the future so much lol
The bazingas won
Why Would I Buy This Useless, Evil Thing?
quote:There's no need for an AI device
I resent AI. Not AI itself–that’s just code, despite what tech guys with flashlights under their chins tell you. I resent the imposition, the idea that since LLMs exist, it follows that they should exist in every facet in my life. And that’s why, on principle, I really hate the rabbit r1.
The rabbit r1 is an AI gadget and voice assistant that uses Large Language Models and what rabbit calls a “Large Action Model” to make complex decisions. It’s kinda like an AI walkie talkie. If you ask an LLMs like GPT-4 to suggest a flight, it might do a reasonable job but won't book it for you. What the people at rabbit are pitching is a device that logs into all your services like Uber and Expedia and then lets you interface with them all at once through an LLM and agents called "rabbits," by way of a little device that does not contain those actual apps.
At first you may say to yourself, “Hey this thing looks kinda like a Playdate” and you wouldn't be far off. Teenage Engineering, the company behind a lot of nice-looking but comically overpriced audio gear (minus the pocket operator), did the design for both Panic’s Playdate and the rabbit r1 (rabbit’s CEO is on Teenage Engineering’s board of directors). But the difference is the Playdate is a fun, charming, intentionally simple little console that you play for five minutes whenever you remember you own it, and the rabbit is a cretinous imposition that I don’t ever want to hear about again after this blog.
If you are a masochist like me and watch this entire keynote from CEO Jesse Lyu, you will notice a few things immediately. First is the brazen, warmed-over Steve Jobs presentation, and while aping Apple is basically standard practice in the tech world, the degree to which it is done badly, coupled with the implication that this is somehow the second coming of Jobs, makes the entire thing embarrassing to watch. Another is that every single use case presented in the keynote is either generating useless LLM vomit, using an app, using several apps at once, doing stuff that Siri already does faster, a worse version of webhooks, or doing the laziest poo poo I can think of with computers. Here is a rough summary of what Jesse asks this demon square to do:
What’s the nature of reality?
What is the stock price of Coca-Cola?
Who played the role of Oppenheimer?
Play Kraftwerk’s “Pocket Calculator”
Play another song from that album.
Who wrote the lyrics?
Which band sampled this song?
What do you think about this song?
Get me a ride from my office.
Find me an Uber that can fit all of us.
Order me a 12 inch pizza from Pizza Hut, the most ordered one on the app is fine.
I want to take my family to London, it’s going to be two of us and a child of age 12. We like cheap nonstop flights, grouped seats, a cool SUV, and a nice hotel with wi-fi.
Could you come up with a schedule of fun things to do while I’m over there?
It seems like this is too intense. Could you plan an easier schedule for us?
(Takes a picture of Rick Astley and has it rickroll him.)
(Takes picture of the contents of his fridge.) This is what I have in the fridge, can you make me a nice dish that’s low in calories? (It then pulls up a recipe without citing its source.)
(Takes a photo of an Excel spreadsheet on his screen, asks it to add a specific column. The AI then emails him the result, and then he replies to it in an email to have it make changes, which seems way more complicated than just typing on your laptop.)
(Uses a “teach” mode to train it to be able to quickly go into a Discord and ask a bot to make a really ugly Midjourney image of a CG dog.)
You will notice that many of these tasks are just interacting with the lazy Silicon Valley dipshit treat ecosystem that already exists. This is funny because part of Jesse’s Steve Jobs pantomime involves the repeated insistence that the app-based ecosystem is old news, but the entire MO of Silicon Valley is reimagining an existing service in a more lazy and invasive way while claiming you are doing something new, so it’s sort of fitting. The idea that you would need to have an additional layer of abstraction for these services is funny enough, but the additional premise that you are now going to be carrying two devices with redundant purposes is even funnier.
Other tasks he asks it to do are so boring and unimaginative as to call into question the character of the person asking them. On some level I understand not wanting to book a trip, hotel and travel together, but that’s historically why travel agencies exist and why apps exist to undercut travel agencies. I would not trust a large language model to make those kinds of decisions for me, nor would I ask it to plan an itinerary in a new city, because I’m not a boring or unimaginative person who lets a cheap piece of plastic tell me to do the ten most common results for “stuff to do in London.”
But most importantly, I really don’t trust AI in its current form to make important decisions for me involving time or money, particularly since the device’s whole sales pitch is that it does not have apps on the device itself and doesn’t connect to any existing APIs (Application Programming Interfaces). I had just assumed when I first saw it that it was loading apps on there, but no, it’s doing everything through algorithms trained on workflows managed via a web portal (called the rabbit hole) where both rabbit and potentially you teach an AI how to click on websites. In all of their marketing, rabbit makes a huge deal about how privacy-focused they are, how they don’t store any data, there is no subscription fee, and how the camera and mic only work when manually turned on, but that’s not the worrying part of this scenario–it’s the idea of meaningful decisions about my life being done remotely by an OS and cloud service that I don’t really trust.
What’s particularly funny is the part where Lyu asks “Why would I need a new device if I already have a $1,000 dollar iPhone?” Great fuckin’ question, my guy! I sure don’t! In part because I know that every one of these companies is already injecting that stuff into my life non-consensually and they have more money than many medium-sized countries. Plus, rabbit is more complicated to understand than the concept of an app. I would say that all these features could theoretically be covered by a single app, functionally speaking, but I am not convinced that Apple or Google would let an app that functioned like this on the app stores because that sounds like a nightmare. Maybe that’s why they needed this weird rear end little freak toy thing to exist.
What’s most annoying about all of this is the sheer repeated imposition of this horseshit. I’m sick of being forced to think about generative AI, large language models and large action models. I’m tired of these adult toddlers who need an AI to tie their shoes and make bad Pixar characters for them. Microsoft and Google keep shoving AI features into their software, and I absolutely should not have to worry about this garbage from Firefox of all places. Beyond the marginal utility of use cases like transcription and realtime voice cloning for goofy bullshit jokes, the majority of this stuff has made my experience on the internet (where I hang out a lot) measurably more unpleasant. This latest push for AI is making the world lazier, less curious, harder to navigate, ripping people off, and creating a topic somehow more tiring than that year these people wouldn’t shut the gently caress up about NFTs and then never brought it up ever again when the market imploded.
So go away, leave me alone forever, and take that over designed plastic garbage with you.
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Jan 11, 2024 02:59
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- euphronius
- Feb 18, 2009
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destroying modern media is probably a net positive
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Jan 11, 2024 03:01
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- RadiRoot
- Feb 3, 2007
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maybe bitcoin will finally cause the market crash after all
it will. its a trojan horse designed to collapse the monetary system from within.
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Jan 11, 2024 03:04
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- Adbot
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ADBOT LOVES YOU
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May 25, 2024 23:31
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Jan 11, 2024 01:12
