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Comment Rationales & (dis)advantages (Score 1) 21

I have to think a bit to organize why and advantages and disadvantages of this, so I thought I'd share.

I define "tokenizing shares" as using a distributed blockchain with universal ability to transact as a way to trade shares.

Advantages of tokenizing shares:

* Universal access to fractional trading, not just inside a single trading platform. (Most likely, anyway.)
* Near zero transaction costs outside the spread. There are trading platforms that offer $0 commissions for regular retail customers, but there's still regulatory fees and these could potentially be skipped. (NOTE: There is likely a larger spread on a distributed ledger than a regular exchange, due to slower transactions. See below.)
* Ability to trade 24h
* Access to purchasers that don't want to or cannot use traditional platforms (e.g, crypto fans, people in developing countries). This may be stopped by "Permissioned ledgers", where there contracts that stop the transfer of stocks into a wallet unless it's on a whitelist.
* Resistance to total failure (due to the distributed nature of the setup)

Changes with good and bad sides:

* Slower trades; expect max speed of milliseconds rather than 1us
* Thus, a loss of the ability to do HFT (High Frequency Trading), which means that we lose the information transmission and market making ability of HFTs, but we also lose their ability to do front-running and decrease their ability to cause flash crashes and similar
* Loss of ability to shut down the trading. This remove an abusable tool of power, but it also lose a tool used to stop bad situation (like flash crashes), which is used to deal with bad market situations (like flash crashes due to trading software bugs), to avoid insider trading when major news is about to hit, and to deal with regulatory concerns.
* All trades are final. In the regular market, trades can be reversed by the courts or banks if done quickly (clearing in the US is in one business day, in Europe it's mostly two business days); in an anonymous, immediate clearing system based on a final distributed ledger, trades can't be reversed. This removes some types of risk, but adds in risks of theft (as we've seen with cryptocurrency) and makes mistakes more difficult to reverse.

Disadvantage if both on a regular exchange and a blockchain:

* The slower trades on the blockchain will lead to latency arbitrage. To avoid losses from price sniping, the blockchain market has to have wider spreads. Market makers will also typically provide limited liquidity in the slower market, to minimize the amount of loss the times they do get sniped.

Disadvantages of stocks on a blockchain in general:

* The distributed nature of the blockchain will allow frontrunning: A retail investor place an order in a market, and a frontrunning company with faster routing setup will then buy the stock elsewhere at a lower price, and re-sell it to the investor at the higher price. If there are distributed validators for transaction order, frontrunners may instead use techniques to bribe the validators (e.g, they may run validators themselves, and have their purchase jump the queue). The net result of both is that instead of negative spread going as profit to the retail investors, it goes to the frontrunners.
* It provides larger liquidity pools for criminals and terrorist organizations to do money laundering; e.g. Russia may be able to move billions around outside sanctions (though there are protocols in place that try to stop this)

Disadvantages for this particular blockchain at this time, for the companies that are resistant to getting on it:

* It is cheap to say no now, and they can't say no later
* There is little time to evaluate
* There is likely some level of legal risk

That's a quick attempt to sort my thoughts - they're not strongly researched for this particular blockchain, though I did a couple of searches to fill in details that I wasn't certain about.

Comment Re: This is not about crypto (Score 2) 21

That's nowhere near true. The current system is administered by regulated entities that have a decent amount of information about most owners. Are there ways to play the system? Yes. But it's nowhere near the same level of anonymity and flexibility as making stocks into tokens that can be freely transferred to anonymous accounts.

Comment Re:Good (Score 1) 146

> Also, it was pretty racist with the whole English thing.

The "whole English thing" is about having someone that it is possible to communicate with in English. I'm fairly sure they would be OK with speaking English through a translation system, as long as it didn't get in the way of the communication.

Also, as someone that is from a non-English-speaking country: Somebody that isn't able to operate in English is unlikely to be able to do good open source work. English is the language that is used to communicate about programming globally, and anybody that does not tap into that communication is at a very large disadvantage. The overall situation is unfortunate, and it can be argued that the situation is systemically racist - but it isn't individually racist to require the ability to operate in English. Fortunately, AI tools are continually making it easier to operate in languages you don't speak, so this disadvantage will become less and less of a problem.

Comment Test for disabling all video autoplay (Score 1) 123

The main things are to:
- disable all video autoplay. (not just sound, but all)

I've made a page to let you test whether you've actually disabled all video autoplay. "De finibus" has a conventional video, a conventional animated GIF, and a motion JPEG presented as a filmstrip animated with CSS. What does and doesn't play for you?

Comment Some reasons for forums' decline (Score 4, Interesting) 123

As a fellow NESdev member, I've identified several reasons why a lot of people have migrated from forums to Discord or other proprietary chat.

- Registration friction. People register for forums and never get their signup confirmation because their email provider misclassified the confirmation message as spam and dropped it without notification. Or they don't get their signup confirmation for days or weeks because the person responsible for manually approving new members is working through a backlog or on vacation.
- People feel compelled to type longer, more detailed posts in a forum than in a chat room. That's fine on a desktop or laptop computer but not so practical on the on-screen of a mobile phone.
- Notification friction. It took seven years after Chrome and Firefox added support for the Push API before Apple did. As Alex Russell put it, "progress delayed is progress denied." Email notifications run the same risk of getting mistakenly dropped as spam.
- People expect to upload and watch video related to a post. Discord allows even free users 20 MB per attachment, enough to post a short video of a game that people can watch before downloading and running it. Forums tend to impose attachment size limits that haven't been reviewed in the years since the forum was established, often on the order of 2 to 4 MB, as well as limits on what media types are usable.
- People don't want their wording mistakes publicly indexed on Google and Bing and then archived indefinitely as "receipts" for use in later cyberbullying or cancellation campaigns against them.

Comment Re:Licensing Variety Creates Choices (Score 1) 152

Making contracts where you lease/rent a game illegal just removes choices/products for everyone on the market

Making motor vehicles without safety features illegal also removes choices/products.

the risk of making them (perpetually maintaining game servers, or giving away massive amounts of IP) were too intimidating to embark upon the project.

Multiplayer video games ought to be designed up front for private servers after end of support, in the same way that motor vehicles are designed up front for the safety of occupants of that vehicle, occupants of other vehicles, and pedestrians.

A choice becomes a Hobson's choice when all sellers in the relevant market choose not to offer an option to buyers, such as an option to run a private server after end of support. A Hobson's choice is no real choice.

Comment Re:It's entertainment (Score 1) 152

If I pay for a movie ticket do I own the movie?

That's advertised up front as the equivalent of a rental. I draw a sharp contrast with buttons labeled "buy" that do not grant equivalent rights to those of the owner of a lawfully made copy.

You've never "owned" media.

Per the copyright statute of Slashdot's home country, Title 17, United States Code:
- A copy is a physical object in which a work is fixed. (Section 101)
- It is not an infringement for the owner of such an object to resell that copy. (Section 109)
- And it is not an infringement for the owner of such an object to make another copy of a computer program in RAM as an essential step of running it. (Section 117)

Comment Re:Can't expect online support forever! (Score 1) 152

Game companies don't always fully own all of the server tech that runs the game. Some or all of it could be licensed and not redistributable.

If it becomes a crime or tort for the server middleware publisher to provide middleware that is "licensed and not redistributable", server middleware publishers will have to either change their standard license terms going forward or close.

Comment Re:Change to a monthly service (Score 1) 152

Until you realize that to keep up with what your friends are playing, you need the equivalent of Netflix, Disney+, Hulu, Paramount+, HBO Max, Peacock, and a bunch of other services. Netflix streaming began as the online extension of Starz, and now Starz is its own separate subscription service.

Comment Beales and Eisenach 2014 (Score 1) 1

I use DuckDuckGo Privacy Tools. I see every single advertisement on John Gruber's blog Daring Fireball and on Read the Docs. DuckDuckGo does not block them because these sites serve ads in a way that respects viewers' privacy. They are contextual, not behavioral.

However, larger sites with a more general audience can't rely on contextual ad placement. Instead, they feel a need to tailor each ad impression to each viewer's interests inferred from observing the viewer's interests across several websites. A 2014 article by Beales and Eisenach reported that behavioral advertising produces triple the cost per thousand impressions (CPM) compared to contextual advertising.[1]

Before Forbes, Wired, and The Atlantic went behind a paywall, they went through a phase of treating privacy tools as ad blockers.[2] The Atlantic's help page insistently mentioned "ad or tracking blockers" in the same breath.

A lot of times, I can get past misclassification of privacy tools as ad blockers by using an extension to turn off all script-in-the-browser for a particular domain.[3] Other times, I find that the website was deliberately made script-dependent. Articles on Reuters didn't load for me last I checked a couple days ago. Instead, I got a notice to reenable JS and turn off ad blockers.

[1] JavaScript Switcher by meetDeveloper on Mozilla Add-ons
[2] Doc Searls. "An invitation to settle matters with @Forbes, @Wired and other publishers" (April 15, 2016).
[3] Beales, Howard and Eisenach, Jeffrey A., "An Empirical Analysis of the Value of Information Sharing in the Market for Online Content" (January 2014). Available at SSRN: https://ssrn.com/abstract=2421... or http://dx.doi.org/10.2139/ssrn...

Comment Re:Slavery (Score 2) 236

(taking a step back, it is still a computer program executing bazillions of jumps, moves, adds, etc. Hard to see something conscious in there.)

We are a bunch of neurons meeting action potentials and firing synapses... Hard to see something conscious in there.

(Not that current AI is conscious, just that it's an eventual outcome.)

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