Forgot your password?
typodupeerror

Comment Re:What I like best about this administration (Score 1) 54

Yeah they stopped giving me mod points a while ago even though my karma is consistently excellent. Notice how as soon as I post I have a +2.

What I suspect they are doing is that there aren't a lot of posters because this is a dying forum so anyone who gets engagement doesn't get mod points because you can't comment on a thread you moderate on.

So it's actually the opposite, my posts are popular and well written and well received and drive engagement at least what little is left on this dying forum.

Oh and I've been here a very very long time and when I still used to get mod points it was five not 15. So get off my lawn and get away from my statue of Natalie portman, naked in petrified, covered in Hot grits and my greased up Yoda doll.

Comment Re:The search for the greater fool came to an end (Score 1) 69

Bitcoin absolutely was a lottery ticket. In much the same way 401ks are.

This right here confirms you are incompetent to give financial advice.

I'll try and remember that when the Stock Market House of Cards topples over under the sheer weight of..expert financial advice.

Again.

It'll only be the fourth fucking time I've had to survive it. Along with many others who assume plebian-grade financial advice is anywhere near as good as the crystal ball now issued to every Insider Trading member of Congress thanks to Pelosi's Law governing Stock Market stability.

Still think those are financial experts? Perhaps we bet on it. What's another c-note dumped into a $200 billion dollar gambling addiction 'market' snorting coke off the ass-end of the OnlyFans prostitution 'market' bent over the IRS confessional at the bank of ethics.

A $10K investment in bitcoin 10 years ago, grows in the same way that a $10K investment in a managed retirement fund would have done over a decade. For those who leave it the fuck alone. A lot of people early on treated it like the 'currency' it was sold as, and spent what they might define today as a retirement plan. Bitcoin will likely retain the record for the world's most expensive pizza.

Comment Re:The search for the greater fool came to an end (Score 1) 69

It's a collectible. Its value is based purely how much people want that collectible.

It's Beanie Babies.

Given it's insanely high valuation, I'd put it more akin to high value art that in many cases isn't high in value or even artistic. But is treated as such for launder, er I mean tax mitigation purposes for those who boug, er I mean contributed a political donation to the creation of those IRS deduction rules..which said 'donation' is unsurprisingly also tax-deductable..

When the Babies shit their Beans all over the valuation bed, no one on Wall Street was left bent over holding the bag. Apples vs. hand grenades..

Comment Re: Nothing backs it (Score 2) 69

And also an inflationary currency is a very bad thing.

For one, it screws over debtholders (aka, most people), as the value of the debt owed grows instead of declining. If you work for a company making lumber, and a given board sells for $10 now, but 20 years from now sells for $5, and you sell the same number of boards per unit labour with the same relative margin, then all else being equal, your salary must be half in 20 years what it is today. But that mortgage that you took out today for $200k is still $200k (adjusted for interest and payment of principal). Which you have to pay on with a salary that is half what it is in dollars. That person is totally screwed.

Secondly, it discourages spending. The more you delay purchases, the more you'll be able to buy in the future. So everyone is encouraged to not spend. Which screws over your economy. It also screws over your tax base when taxation is based on taxing spending. Meaning you have to raise your spending-related taxes, which further discourages spending.

Third, it worsens wealth inequality. If you're living paycheck to paycheck, you have no savings. If you're a billionaire, you have a lot of savings. The billionaires see their assets grow and grow, and it comes at the cost of the working class. Also, said billionaires are encouraged to keep their money as cash rather than investment, which further ruins your economy.

This is no way to run an economy.

Another thing you REALLY don't want in an economy is instability. Aka, Bitcoin's fundamental nature, because it has no fundamentals and no attempt at monetary policy. Economies are fundamentally unstable. If you do not regulate them, they swing wildly. The faster an economy moves - and economies keep moving faster as technology advances, it no longer takes half a year for goods to arrive on a sailing ship or weeks to communicate with the other side of your country - the more unstable it is. This is terrible for both individuals and businesses.

What you want in an economiy is:

* Stability
* Low and steady inflation - a couple percent, to encourage spending, slowly devalue debts, and encourage investment. Too much is bad. Too little is bad.

Comment Re:Nothing backs it (Score 1) 69

Yet, silver is valuable as both a monetary metal and industrial metal.

Unlike bitcoin. You summed it up nicely right there.

Right now, I want to buy tin-silver alloy, to use in casting. But the prices of both tin and silver are insanely expensive right now. So I'm not buying now. If the prices go down? I'll buy. If they go down a lot? I'll buy a lot, perhaps even to sell on my sales website. And this buying is to *use* it. Which takes it off the market. There are fundamentals behind silver.

There are no fundamentals behind bitcoin.

Comment Re:The search for the greater fool came to an end (Score 5, Insightful) 69

401ks have fundamentals behind them (comprised of companies that make products and services that people want to buy, generally as repeat-buys)

Governments have fundamentals (the ability to levy taxes, backed by the full force of the courts, the police, and ultimately, the military)

Bitcoin has no fundamentals. It's a collectible. Its value is based purely how much people want that collectible. The only reason, as was stated, that people were buying it was as a lottery ticket. But there is no reason to "own" it beyond that. It's not generating dividends or doing stock buybacks based on profits. It's just there for those who want to collect it. And its value depends on how much people want to collect it.

(Arguably its greatest power is that its holders stand to lose so much if regulation goes against them that they tend to be very politically active, with large donations to pro-crypto candidates)

Comment Re:Missing from the article (Score 1) 33

Eh... I think the "used for all kind of dangerous things" started with GPT-3. I used GPT-2 a good bit back in the day, and it couldn't pass as a person, let alone reason out as a cyberattack.

Since it wasn't instruction fine-tuned, you couldn't trust that GPT-2 would ever do what you wanted. The best you could do is "cute it" with leading text and hoping that it doesn't go off on a tangent. That said, you could kinda use it for things with decent reliability. For example, you could write a long paragraph, then write: "Or, to sum up everything above in one sentence" - and then (hopefully) get a one-sentence summary.

It could sort of try to write recipes ("Here is a recipe for [X]. INGREDIENTS:"), but far from usable (I remember that one contained vermiculite ;) ). You could write plays by starting out a play format, though the plotting was fairly incoherent. You could set it up to write a joke and it'd end up writing long anti-jokes where the punch-line never actually comes (in one, I set it up with "A nun, a priest, and a rabbi walk into a bar...", and it ended up with the bartender saying something antisemitic, everyone getting uncomfortable, and leaving, and priest turning to camera and talking about how antisemitism is bad). Etc.

It was this tantalizing glimpse of what was to come - not YET useful, but hinting at what could come if the models improved sufficiently. I don't think many people expected how quickly it would improve.

When GPT-3 came out (but not yet 3.5, aka ChatGPT), the writing quality was clearly dramatically improved. People were writing articles about GPT-3 using GPT-3, and only copyediting to piece the (small) chunks together. For me the big "Nothing Will Be The Same Again" moment was the "TheGentleMetre" scandal on Reddit, where it was discovered that someone had connected GPT-3 to their Reddit account... but it took like a month for them to get caught, and even then only because they were posting 24/7 at a regular pacing. And it was the fact that they weren't just writing arbitrary nonsense, but that there was logic to what they were writing. For example, one person asked something like "Would you rather have a psychopath or a Nazi as a roomate?" and it made a reasoned argument about how with a psychopath, there's something mentally broken with them, whereas with the Nazi, it's an ideology and there's still the possibility of changing that ideology. Back in that era, the notion that an AI model could do this was pretty staggering.

Slashdot Top Deals

You will lose an important tape file.

Working...