stevedewald | 2 years ago | on: New Federal Rule Caps Credit Card Late Fees at $8
stevedewald's comments
stevedewald | 2 years ago | on: Before OpenAI, Sam Altman was fired from Y Combinator by his mentor
You introduced sex into a discussion where their sex is completely irrelevant.
stevedewald | 2 years ago | on: Moody's lowers outlook on US debt to 'negative'
$32.6T national debt as of August 2023 / population of 333M in most recent census = $98K/person
[1] https://en.m.wikipedia.org/wiki/National_debt_of_the_United_... [2] https://en.m.wikipedia.org/wiki/Demographics_of_the_United_S...
stevedewald | 2 years ago | on: Home schooling's rise from fringe to fastest-growing form of education
Is oxygen flammable? I’m pretty well-educated and that question gave me pause. I know oxygen is involved in the combustion process, so I think the answer is yes, oxygen is flammable. That feels like a trick question though.
stevedewald | 2 years ago | on: US Air Force shoots down drone swarm with THOR microwave weapon
Yes. You give away information about your position and capabilities if your defensive system triggers inadvertently.
stevedewald | 3 years ago | on: Credit Suisse’s takeover causes turmoil in a $275B bond market
Hedge fund manager here. Depositors and banks are counterparties, and every financial institution & fund I’ve ever encountered does significant and ongoing diligence on their multiple banking relationships.
It’s hard to imagine how irresponsible these VCs and startups were.
stevedewald | 3 years ago | on: Can the FDIC Afford to Bailout SVB?
It does not come from “taxpayers” per se, it comes from people who keep money in U.S. bank accounts.
stevedewald | 3 years ago | on: Three Logicians Walk into a Bar
That is not correct though. With the question phrased this way the second and third logicians don’t know if the previous ones want a drink or not.
stevedewald | 3 years ago | on: The free money machine that went into reverse: Grayscale Bitcoin Trust
It’s because someone could short (borrow) GBTC and redeem it for BTC for an immediate profit. The premium would disappear near instantaneously as short sellers captured the spread.
stevedewald | 3 years ago | on: Ask HN: How did Sam Altman fail upward so well?
Dropping out of school isn't really an accomplishment. Neither is failing at building a company despite raising $30 mil in funding.
stevedewald | 3 years ago | on: Apple to allow outside app stores in overhaul spurred by EU laws
You already can. You just can’t sell them to other people on Apple’s platform.
stevedewald | 3 years ago | on: SEC Says Sam Bankman-Fried Defrauded Investors of $1.8B
This is just investor fraud. Customers funds are a separate issue not regulated by the SEC.
stevedewald | 3 years ago | on: SEC charges Sam Bankman-Fried with defrauding investors
The SEC isn’t responsible for protecting customers. We’ll have to see which other agencies get involved and what they charge him with.
stevedewald | 3 years ago | on: BlockFi files for bankruptcy as FTX fallout spreads
Labeling them as Ponzi schemes affords people in the US who lost money special tax benefits. It’s treated more similarly to theft than a bad investment. I am not sure about other countries, but in the US the label has real consequences.
https://www.irs.gov/newsroom/help-for-victims-of-ponzi-inves...
stevedewald | 3 years ago | on: Proof of solvency and beyond
It doesn’t cover any off-chain liabilities.
Note that for most exchanges a material portion (most?) of their liabilities will be off-chain—e.g. fiat customer deposits.
stevedewald | 3 years ago | on: Z-library founders arrested in Argentina
I think you have it backwards. The supply of quality education hasn’t increased. Only the dollars chasing that supply have increased. Hence prices have gone up.
stevedewald | 3 years ago | on: How SBF(FTX) used his status as the right kind of "White Boy" to con the world.
The title of this article is pretty offensive. I don’t want to read it. Is there some context that makes the racial slur appropriate here? Or we allow it because racism against white people is in vogue?
stevedewald | 3 years ago | on: How safe is ayahuasca? Large-scale study explores
“Drugs are bad, mmkay” is something we teach kids at an age when they are unable to process more complex or nuanced positions.
It’s highly unlikely that you’ve never taken psychoactive substances—caffeine, for example, is found naturally in enough foods that it’s hard to avoid. Many spices produce psychoactive effects—e.g. vanilla, pepper, cinnamon, ginger, saffron, etc. I suspect it’s not your opinion that these are all bad as well.
Your kids at some point will be exposed to some of these things, and if “drugs are bad” is what you’re teaching them then they will understand, as we do, that your opinion on this subject really isn’t helpful.
stevedewald | 3 years ago | on: How safe is ayahuasca? Large-scale study explores
That was delightful. Thanks
stevedewald | 3 years ago | on: Ask HN: Amazon lying about shipping dates?
Just my personal experience—the estimated delivery at checkout is almost always 1-2 days earlier than in the email confirmation a minute later.
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Card issuers can still charge more than $8 for late fees. They just need to comply with existing regulation, specifically that whatever late fees they charge are “proportional” to their costs.
Don’t expect an $8 cap on late fees as a result of this.