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TwoFactor's comments

TwoFactor | 9 years ago | on: Saudi Arabia's Oil Wealth Is About to Get a Reality Check

That WSJ article is very interesting, and I haven't seen production costs broken down clearly like that before. It's curious that Saudi Arabia is listed as having $0 per barrel in the Gross Taxes chart even though there's a 20% royalty and 85% income tax on Aramco. I'm curious if that information wasn't know when the article was created, or if those fees are significantly different than export taxes from an accounting perspective.

TwoFactor | 9 years ago | on: Study reveals substantial evidence of holographic universe

It's interesting that to a layman this seems like almost the exact opposite of what string theory proposes dimensionally. Holographic universe theory is stating there are effectively less dimensions, while string theory shows there could be significantly more.

TwoFactor | 9 years ago | on: Krypton Abandons Ethereum-Based Blockchain After 51% Attack

Its scary how little the founder understands about proof of work, golang, or Ethereum. The geth issue that was patched 4 months ago had nothing to do with being 51% attacked.

There's no hashing power dedicated to the altcoin so it got attacked, and this is something that's been happing to POW altcoins for 6 years now. Its not clear how she ever expected the POW consensus to survive a 51% attack, and has not described how the Ethereum protocol has anything to do with the failure of her consensus algorithm. If she was on a bitcoin-based POW chain she would have had the same issues.

TwoFactor | 9 years ago | on: The DAO Hacker Is Getting Away

That's what is happening right now, but the currency exchange is happening on Poloniex, Kraken, etc, and the hashing power is following the exchange rate.

TwoFactor | 9 years ago | on: Confirmed: Walmart buys Jet.com for $3B in cash

If the employees/common share holders are splitting say $1B, an employee's 1% is actually much more. It wouldn't be surprising to think the investor's preferred shares were ~50% of the equity or more, leaving the common shares with the remaining 50%. That employee's 1% is actually 2% of the remaining, so ~$20M using the numbers above.

TwoFactor | 9 years ago | on: Hacked Bitcoin firm plans to spread losses across all users

They don't appear to be using official auditors, and have not mentioned bankruptcy as one of their current options.

The current speculation is that they will continue operating, and issue coins that either represents equity or debt in the company to compensate customers.

TwoFactor | 11 years ago | on: Blimps Protecting Washington, D.C

Ground-based radars a typically constrained by line-of-sight on the horizon, and the curvature of the earth - you can't see anything beyond the horizon. Being elevated gives you a much larger range as that tangent line moves significantly outward.

TwoFactor | 11 years ago | on: EBay CEO Asked About Amazon, Bitcoin and Unpopular Seller Policy

Relevant quote from the conference call: "We think Bitcoin will play a very important role in the future. Exactly how that plays out, and how we can best take advantage of it and enable it with PayPal, that's something we're actively considering. It's on our radar screen."

TwoFactor | 12 years ago | on: An estimate of the real savings for merchants from Bitcoin

There is a lot more risk on the consumer allowing a merchant (and vicariously the consumer's bank) full "pull" access to a bank account. You'll need a dispute resolution system, which is what debit cards are basically providing in addition to point of sale systems. Imagine a security compromise like with Target, but if there was full bank account access as well... it would be a nightmare.

Bitcoin is "push" based which eliminates the ability to fraudulently pull charges from the sender's account. Banks also charge a fee, and add transfer times to transactions that are basically non-existant with bitcoin

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