The Off Topic Topic

[Josquius]

He missed selling at the top. What was his actual initial investment?

[DGuller]

He never had any in 1st place.

He had $16 billion in Monopoly money.  That doesn't count?

Monopoly money does count, actually.  Spend a few nights in a hotel on Boardwalk and you'll see things differently.

[The Minsky Moment]

Today is the German "Day of Fate":

- 1849 Liberal revolution ends
- 1919 Republic is declared
- 1923 Hitler Coup Attempt
- 1938 Reichskristallnacht
- 1989 Berlin Wall falls

Oh God
https://www.bbc.co.uk/news/world-europe-63499057

Figures they'd do it by mixing meat and dairy.
Never trusted that Colonel.

[The Minsky Moment]

He never had any in 1st place.

Real VC put up real $$ to invest in that company.  The most recent at a $32 billion valuation.

That was a real head scratcher because a securities exchange usually makes most of its money from transaction based fees.  But crypto transactions volumes are quite low compared to conventional securities transactions.

A 32B valuation is roughly the same as Nasdaq, which has (had) much higher trading volumes.

Which means that FTX either was:
(a) cooking the books
(b) taking on lots of risky leverage/credit risk
(c) Both

Early returns suggest (c)

[The Minsky Moment]

To be clear: if you running an exchange properly, big drops in the value of the assets being traded should lower your income, but it shouldn't threaten the solvency of the exchange itself unless you are doing something wrong.

[Duque de Bragança]

This has been an all-time great week.

Crypto imploded, the GOP got rolled in the midterms, and Elon Musk ruined his reputation and wasted much of his fortune by buying Twitter and running it into the ground.

And the Russians GTFOd of Kherson. Yeah, this has been a nice week.

Cheaper GPUs coming? 

[mongers]

This has been an all-time great week.

Crypto imploded, the GOP got rolled in the midterms, and Elon Musk ruined his reputation and wasted much of his fortune by buying Twitter and running it into the ground.

And the Russians GTFOd of Kherson. Yeah, this has been a nice week.

Cheaper GPUs coming? 

Yeah that would be nice, along with a reduction in the vast waste of electricity.

[mongers]

This has been an all-time great week.

Crypto imploded, the GOP got rolled in the midterms, and Elon Musk ruined his reputation and wasted much of his fortune by buying Twitter and running it into the ground.

Yeah thank you Funk for highlighting it.

I has indeed been a pretty good week.

[Syt]

 

[Zanza]

Bring your own coffin

[Syt]

My main thought is that - beyond probably being impractical unless you have a battlefield that is as immaculately coiffed as the grass at Wimbledon - this makes for many very slow moving targets with poor visibility for anything that can punch through an inch or so of steel.

[Admiral Yi]

The Japanese tried out portable armor during the Russo-Japanese war.

[The Brain]

These look more aeorodynamic than historical examples. Makes a big difference when you hit real speed.

[grumbler]

My main thought is that - beyond probably being impractical unless you have a battlefield that is as immaculately coiffed as the grass at Wimbledon - this makes for many very slow moving targets with poor visibility for anything that can punch through an inch or so of steel.

If those had an inch or so of steel they'd be too heavy to push.  They'd be very ungainly with a quarter-inch.  Of course, as you point out, they'd never make it three feet through the holes and mud of no man's land.  Self-propelled coffins, indeed.

[Syt]

That's a very fair point