irln

So interesting how your conclusion (which I strongly agree) is a bit of knowledge that can be obtained with diligence and research, however, it's a limitation of Bitcoin that it requires that level of diligence and research to understand.

What are your thoughts on requiring payment to participate as a way to reduce spam? I realize that in this particular context payment could prevent participation for some, however, are there other reasons why payment would be ineffective?

I'm guessing emotional pre-prompts are difficult. The current offerings like ElevenLabs and WellSaidLabs provide amazing voices for narration but lack any way to change the emotions (e.g. happy, angry, excited, etc.). I wonder what are the technical hurdles to adding this variability?

The interface is great. Did you create the front-end/back-end from scratch?

I was struck by how close a Bugs Life and Ants movie flying scenes was to this video.

His reference to David Graeber led me to 5 Types of BS Jobs https://youtu.be/utdDB10usZg which seems spectacularly on point.

If the "Dev Team" upped the number of coins it would be a fork, none of the existing nodes would accept it.

What does a fraudulent bank have to do with the fact that the FR is the ultimate backstop to loans (IOUs) created by a bank...a "power" you claim is the same as a non-bank created IOU or a an individual IOU? Further not sure how your example refutes my previous reply's accuracy, regardless, if a bank makes a bunch of fraudulent loans adding up to a Trillion dollars and it isn't discovered until those loans are cross-collateralized sufficiently to cause systemic risk, you can bet the FR will back those loans. Finally, given a bit of time a single Trillion dollar loan may not seem as large as it does now. :)

> Deposit insurance is a fundamental difference between bank IOUs and non-bank IOUs.

Deposit insurance is a fundamental difference but it's not the main difference. Individuals and most non-banks don't have access to Federal Reserve accounts and therefore access to reserves. The main distinction between a bank and a non-bank is the ability to create IOUs ultimately backed by reserves (whether they have sufficient amounts or not) which can only be created by the FR (and in this context) to back a bad IOU. Whether the new reserves go directly to backing up the IOU or indirectly via added liquidity is irrelevant. A bank can create a misguided IOU that defaults, which if too big to fail, is a liability that the FR and thus all holders of the IOUs, cash, and reserves must bear.

> "and buying assets at market rates."

Without sarcasm, given the latest purchases of assets beyond Treasuries and MBS, why do you think the Federal Reserve has purchased assets at market rates?

Even, even better that "central bank" could choose winners and losers providing credit to certain participants eliminating the need for petty "price discovery" and creating a system where 20.5 million people can lose their job on the same day something called "the stock market" goes up 400 points...a pure "stable" utopia!

Not challenging your assertion, however, what doesn't he understand about how the Federal Reserve works?

Completely agree, most texts concentrate on teaching outdated fractional reserve based monetary systems. Fractional reserves are no longer the major constraint on an expanding/contracting money supply. This course builds up an understanding of the push/pull factors of modern finance and banking.

I'm reminded of this thread The FCC Has Fined Robocallers $208M, Collected $6,790 https://news.ycombinator.com/item?id=21492782.

Enforce collection of the fines in the first place would be a good start.

Clearly you could read the headline as sensational. However, if you look at the fed balance sheet, it has increased significantly recently. [1] The increase in the balance sheet has been in overnight or short term repos. The question remains whether this will result in a longer term FR policy. That is, even though the maturity of the loans are overnight, if the policy remains for years than the cumulative effect is that the the longer term balance sheet has increased.

[1] https://www.federalreserve.gov/releases/h41/current/

The content is amazing. Concentration, insomnia, etc.

Is it difficult to build systems?

Three data points:

Fed Balance Sheet https://fred.stlouisfed.org/series/WALCL Fed Balance Sheet hasn't been reduced in any meaningful way.

Bank credit: https://fred.stlouisfed.org/series/TOTBKCR Bank's have themselves continued increasing the money supply.

Worldwide debt: https://www.iif.com/publication/global-debt-monitor/global-d... Random snippet from Q32017

The Future of Film? I love Netflix, however, isn't the jury still out if their pricing model is sustainable given their debt issuance?

You raise an interesting argument, however, doesn't the good outweigh the potential negatives (e.g. the kids that will be inspired to learn science from seeing this)?

The booster landings were incredible, however, the initial shot of it clearing the pad looked like a scifi movie intro.