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Comment: Re:This is a GODDAMN DISASTER! (Score 1) 163 163

Sure, but having the bitcoin sitting in the bitcoin wallet doing nothing makes it kinda worthless, yah? The whole idea is to use it for commerce, at which point you are vulnerable to all sorts of scams and theft that you would normally be protected from.

Then there's liquidity. Most transactions are off-block-chain (as in one block-chain transaction per every ~400 or so off-block-chain transactions). They have to be, because putting a transaction on the block-chain takes too long. This means that you must inherently hold a balance, in bitcoin, with a third party, if you actually want to be able to use your bitcoin for general commerce. There are currently no protections whatsoever against that balance.

And then of course there's the volatility of the buying power of bitcoin itself. It's one of the most unstable and volatile currencies in existence.

That said it is better than nothing and certainly better vs certain emerging market currencies undergoing hyper-inflation.

But it isn't better than the dollar or any western currency and never will be.

-Matt

Comment: Re:Shocked (Score 2) 163 163

This isn't correct. Banks can only lend out what they have. They can't manufacture leverage out of thin air. Leverage is a function of being lent money, not of lending out money.

The correct example is that the bank receives $1,000 in deposits from Alice and is allowed to lend out $900 of that. However, this means that the bank only has $100 cash on-hand so it cannot return Alice's $1,000, at least not immediately.

This does not mean that banks do not employ leverage, banks do borrow money, typically in the form of a preferred stock issuance. Just that they basically aren't allowed to in the example you gave. This is all laid out in bank financials. for example, for 2014 Wells Fargo had assets of $1.7 trillion and loans of $863 billion. The Deposit base is around $1.1 trillion.

So, $863 billion in loans on a deposit base of $1.1 trillion.

The mortgage crisis created a situation where loan losses exceeded the regulatory pad for many banks, and in several cases made them effectively insolvent. The Fed provided liquidity temporarily to give the banks time to become profitable again in order to be able to get back into compliance. Which most did. Most of those that did not, such as Washington Mutual, were either forced to be sold (at the beginning) or became desirable assets sold to other banks who were able to take over the deposit base without incurring losses to depositors. Most of the FDIC's losses (since recovered) occurred with smaller banks who had gone so deep into the red that they could not recover even with the extra few years the Fed gave them to become profitable again.

That's the reality. You don't have to like it, but people who deeply believe in bad information tend to wind up unhappy their entire lives when it turns out not to be true, over and over again. There's been a lot of that, too.

-Matt

Comment: You mean like the one Qualcomm has now? (Score 1) 30 30

Wow, a research project that uses Ultrasound to scan fingerprints in 3D? This would be amazing if Qualcomm didn't have a near production version (Likely showing up in phones early next year around CES) that they were showing off at MWC months ago. I played with it here, it works, it does '3D', it scans beneath the surface, it is ultrasound based, etc etc. It also does other neat tricks that they aren't making public.

http://semiaccurate.com/2015/0...

So why is this 'new' one all the rage again?

              -Charlie

Comment: Re:There is another possibility too.. (Score 1) 184 184

International law firm ReedSmith weighs in on this point as well: '[O]nce the Department begins to audit and assess customers located within the city, many of those customers are likely to demand that providers collect the tax going forward. As a result, many providers will likely feel the need to register to collect the taxes, despite lacking nexus, and despite having strong arguments against the Department’s expansive interpretation of its taxing ordinances.'"

International law firm ReedSmith does not appear to have had experience with New Hampshire. When Massachusetts leans on providers who operate in both states to collect Massachusetts sales tax when a Massachusetts resident buys something in New Hampshire, the New Hampshire legislature leans back, making such reporting by the New Hampshire branches illegal.

Some years ago Massachusetts stationed an observer near the parking lot of a New Hampshire liquor store. He would write down the Massachusetts license plates of cars in the lot and relay them to a state trooper just across the state border. When the cars reported would cross the border they would be stopped on a pretext, and fined for having untaxed liquor in the car. New Hampshire stopped this practice by busting the parking lot observer for running a numbers racket.

I predict this case will be similar. The providers will resist collecting the Chicago tax, and if Chicago leans on them, other jurisdictions will lean back.

Comment: I've been writing code like this since 1985. (Score 1) 64 64

In all seriousness though, have you ever tried to analyse unstructured text? It's hard. How would you realistically improve it? Do you start with a preconceived list of technology key words and count them in the resumes? People misspell words. Words have multiple meanings depending on context.

I've been writing code like this since 1985. Then, it was in LISP.

It's actually trivial to me at this point. You end up with a meaning trie with differential probability vectors, and some of the roots wither away as you go down. Making a machine decision is harder, but not entirely impossible.

I get incredibly annoyed at people like Lazlo Bock who want to put everyone's resumes into a form that basically allows Google (Lazlo Bock works for Google) or other companies to magically allow you to come into a new job under the horse collar of a performance review of your previous job which they were in no way involved with.

The whole "HR metrics" industry... uh... kinda pisses me off? I pick companies based on criterion other than standard metrics. If they pick me that way... they do not deserve me. Mostly they stumble into me, I fix them, and then I exit.

I understand the "OMG we need people who know what they are doing and not recent graduates!" panic. Does not mean I sympathize.

Comment: Re:Who watches this crap? (Score 1) 134 134

the really valuable work is done while I'm in the shower or in bed

This together with the question "Why would anyone want to watch someone code?" makes me think in the lines of pornstars pretending to be programmers in the shower.

And then he opened the SPARCStation pizza box to reveal... a Zilog UART!

Comment: Read the blog post again. (Score 1) 64 64

Read the blog post again. http://insights.dice.com/2015/...

"I think that’s pretty cool, given we’re generating that automatically from job descriptions posted on our site. We also tried using the resume dataset, but the results were of a lower quality, as the skills extracted from resumes can be from different jobs."

It was extracted from job-postings, which would only identify Schelling points in the hiring industry, not skill clusters common to people with certain desirable skill sets; in other words, it "how to fudge your resume", rather than "how to find employees like the ones I have which I like".

Comment: It's not very reliable data. (Score 3, Insightful) 64 64

It's not very reliable data.

They took the similarity vectors from the job postings, not from resumes, so rather than "what you're likely to know", they computed "what an employer is likely to want at the same time as wanting something else", and then declared that a similarity due to an already skewed cosine similarity metric. This happens because employers are more likely to copy other, similar job postings, or other job postings for companies in a similar business as them, or those of a company whose employees they wish to hire away.

They claimed that they tried using resumes, but that the resulting data was not as "clean"; uh... duh?

This visualization was not actually very useful, unless you are trying to design a resume to get yourself hired, regardless of your actual current capabilities.

At these prices, I lose money -- but I make it up in volume. -- Peter G. Alaquon

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