Might take some pressure off of the GPUs. And the more GPUs that actually make it into the hands of people who won't use them to simply churn out hashes, I think the better off we'll all be. I've been trying to get a 3090TI for work / pet DL/ML projects, but the current prices are ridiculous.

Besides, I'm hoping that this all becomes a non-issue and that proof-of-stake becomes the dominant strategy. PoW is just so wasteful.

The inflation in the 70's was not due to excess M2. Rather, we had a oil embargo against us for several years. And the resulting supply chain issues, coupled with the increase in prices from fuel costs, lead to inflation.

If you really want the consensus from that time, everyone wanted Carter out and Reagan in as Reagan promised to cut the top tax tier from 70% down to 35%. What's more likely: the fed tanking the economy to purposely make Carter look bad in order to get Reagan in, or Volcker being stupid enough to think that the inflation was due to excess monetary supply, and thus raising rates was an appropriate solution?

Back in the 70's, the prices weren't due to a smoking hot economy. They were due to the sustained damage caused by OPEC, and the fact that Carter wouldn't grab his ankles for the Saudis.

If money supply is truly at issue, there is a far better way of removing excess capacity from circulation: raising taxes. Taxes can be a focused instrument, in that we can target the socio-economic brackets where monetary supply is in greatest excess. Raising rates is a blunt weapon that regressively hurts the poorest and those just attempting to climb our of their tier to the next level.

However, I'm not convinced this inflation is entirely due to excess supply. There's just as much evidence that this is a supply chain issue, where Covid has forced the shutdown of factories, and in many cases, entire suppliers. Raising rates would only make it more difficult for new suppliers to receive the funding they need to capitalize and start up again.

This is the exact situation we had ourselves in the 1970s, and stagflation was only made worse by raising rates.

Is this middle out?

The answer is always "no".

Why even ask it? It's one of the surest signs of lazy reporting / editing.

I think the more appropriate question is why so many investors were unable to tell the difference between smoke and mirrors and actual IP.

The reporter should have started there. But I suppose there's little interest in yet another fool, money, easily parted piece.

If all it takes is money and a team, and Elon can't take credit for anything, why hasn't Blue Origin absolutely demolished SpaceX by now. Jeff has had billions while SpaceX repeatedly almost went under during its early phase.

What I find more curious is how so many are parroting attacks like this using almost the exact same points. Is there a youtube video out there that's compiled all of these? Or is there a talking points memo?

It really feels like an organized psychological operation designed to discredit and destroy Elon. Are you in the employ of oil company interests, Exxon or Chevron? Perhaps big auto? GM, Chrysler, or Ford? Or maybe the defense industry? I know Boeing, ULA, General Dynamics and the rest of the competitors for NASA contracts (hello US Military Industrial Complex) would both love to see Elon's head on a spike.

if not are you aware that you're blindly spouting prepared messaging?

No use cases?

Quite the contrary. For games, NFTs ensure uniqueness of assets and enable intra and inter-game economies. This will be a very interesting domain to watch in the future. But for artists? Aside from tryhards paying ridiculous sums for NFT artwork to gain attention / fame, I agree with you. That said, if NFTs can be leveraged to make discovery and acquisition as easy as Spotify, then they'll be successful. Most people don't want to deal with filesharing networks for music if they have something like Spotify. The same will be true for other forms of media.

If it is easier to pirate media than to pay for it, it doesn't matter what infrastructure crypto brings to the table, even the current incarnation of NFTs. The hurdle to acquisition must be lower than, say, going to common pirating hubs and dealing with torrents.

The thing about NFTs is that, while they purport scarcity, this is artificial, or at least, uniqueness is only enforced at the contract layer. For digital media types, the actual data can still be easily replicated and distributed.

Personally, I think there will always be a certain percentage of the population that are willing and actually want to pay artists for their effort. NFTs provide an excellent instrument for artists to facilitate this. Just make sure to keep it simple and easy.

This is the way that Apple handles it.

If you intend on staying in the US for more than 30 days any time in the decade after you renounced your citizenship, the US will go after you for worldwide income.

IRS, Expatriation Tax

It used to be that you would have to pay for ten years regardless if you were found to have renounced in order to avoid taxes.

Personally, I don't understand the tax avoidance. These people have benefitted handsomely from living here. Back in the 1940's, when adults were running the show, we had a top tax rate at 70% in order to pay off our war debt. We kept rates high through the 60's and 70's in order to prevent aristocracy and the kind of wealth inequality that we now have to deal with. We also had large federal programs that provided critical services that we now have lost. And now that we have crippling debt from two wars lasting decades, irresponsible tax cuts, a market collapse, and a pandemic?

And these people decide that they just want to cut ties and hoard their wealth?

Good riddance.

So, the we're all fine with this poisoned garden that the SEC has created, where transactions are inefficient (currently T2), and require a central, anointed entity, DTCC, to provide clearing to ensure order fulfillment? And then on top of this, they support trading houses like Citadel, who both make markets for retail brokers as well as purchase order flow data from these brokers. And then they have their own trades on top of this?

It's all a nasty cesspool of conflict of interest. The greed and corruption is literally being unleashed on retail traders on a monthly basis. Every time a close peer of DTCC or the top market makers need a bailout due to greed / stupidity, they end up strong arming the retail brokers into halting trading to alleviate pressure.

Instead of trying to clamp down on crypto, they should be taking notes. For one, how to build a truly distributed, central-authority free markets that are capable of conducting transactions with T0, removing the need for clearing houses, market makers, etc. All those layers of corruption would be eliminated. Certainly no system is secure, but a lot of what has happened in the crypto domain over the last decade has been groundbreaking.

If they think they're going to be throwing stones at crypto, they had better board over their own glass houses first.

If I convert USD into UKP, it is not a taxable event.

Why is that?

MTBI + MW = $15.00 / hr.

Means Tested Basic Income of $12.00 / hr Lower Minimum Wage to $3.00 / hr

Nationwide, poorest workers get a huge raise, this includes service workers. Mandate full bennies for these workers, even for part time. Healthcare through extending single-payer / medicare, PTO, sick leave, etc.

Mandate 10% over salary paid in stock grants or other forms of company ownership.

Pay for this by restructuring existing non-healthcare related welfare programs under the single umbrella, gaining efficiency of eliminating hundreds of redundant bureaucracies. Yes, we'd need to increase taxes to pay for this. Put that all on the highest tax tiers.

Sure, they'll complain, but they'll be getting a huge subsidy. Labor at $3.00 / hr as opposed to 10, 12, even $15 an hour.

We compete with China, Mexico, Vietnam, etc, without tradewars and self-wounding tariffs. American companies repatriate their manufacturing lines here, companies from around the world flock here to take advantage of it. US economy booms. Inflation is knocked back through reduction in labor costs.

Fact: if you own property, and your neighbor fixes the fence and accidentally moves the posts such that 4' of property that used to be yours is now in their yard -- and you let it stand -- that property is now your neighbors.

Same principle applies for intellectual property. If you don't actively enforce your ownership and control, you effectively lose it.

Sucks, as that legal precedent drives a lot of the pointless takedown activity. But there it is.

The dividends and buybacks only started when Intel ran out of runway. The main issue is that with decreasing node sizes, the yield / sq mm decreases as well. TSMC and AMD chose wisely to work with this reality in the form of "chiplets". Instead of trying to do everything on one single die, they subdivided their chips into components, and then fabbed each of these on a separate die. Then they then combined them together into a deliverable, often with components of varying node sizes, optimizing by necessity.

This approach is probably more expensive, initially, than all-on-one, and I have to admit, my OCD was off the charts when I first learned of this.

But it's a level of pragmatism that has unlocked the door to sub 2nm production.

Intel, in their hubris, thought that they could do better. But having accountants run the show for the past decades has proven to only have blinded them to the ground truth that they have faced. And instead of pivoting on engineering, they chose to take the accountant's way out: buy the shareholders off until they stop complaining.

There are plenty of American companies that haven't fallen victim to this "virus". They're too busy kicking ass and wiping the floor with their competition to worry about whether shareholders are happy. Rather, the "virus" only sets in when a company is boxed in a corner. Which is precisely what happened to Intel.