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Cake day: June 23rd, 2024

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  • Even if I didn’t know that, after 10 seconds of thinking it would be clear that a company that made about $46bn in the last four years can’t just pay out more than that in actual money, they don’t have the cash reserves.

    For him, he can borrow against the stocks, so it’s about as good as money, maybe not 100%, but still a sizeable amount.

    I think it’s dumb to agree to goals and compensation / rewards after the goals have already been met. I can’t go to my employer and retroactively demand more pay for previously agreed work, even if it turned out better than he or the customer expected.

    I think Tesla stock holders were mislead and / or stupid, there’s no dividend so the only way to profit is to sell at one point, and Tesla’s position in the market is only getting weaker by the year. Outside of their car business, they have nothing of interest, though some people will never tire to emphasized that Tesla is a tech company - just what that concrete tech is that other companies or customers will want is still somewhat of a mystery. Same if it justifies current market evaluation.

    I wouldn’t bet against Tesla stocks - I know the market can stay irrational longer than I can stay solvent.

    Given Musk’s recent behavior alienating his potential core customers, he is a liability rather than an asset. The cybertruck damaged the brand, the semi which was delayed by 3 years does not fit the needs ICE trucks do, rental and other companies are phasing out Teslas because of their fast depreciation- but robotaxis will fix it, right?

    How anyone has a positive outlook on their performance with him as the CEO is almost beyond me, but if you assume there’s a personality cult, it makes sense.





  • Those fascists got some ‘splainin’ to do.

    One can only hope so.

    First off: am European, not American. So this is an outside view and I’m not directly impacted, however US policy both national and international historically has a lot of influence on us.

    It’s kind of refreshing to see Biden take the gloves off against Republicans. They’re fascist clowns that don’t feel bound by any rules and conventions. Their hypocritic calls for unity went out the window as soon as Harris announced her bid for president and they felt like they can’t use the momentum of the assassination attempt anymore.

    The political climate that has been building to the last 10 years - even longer behind the scenes - is unfortunately only possible because the US moderate doesn’t push back against the intolerant. The tolerance paradox in action - but you have to understand that these people lie in your face and argue in bad faith.

    I don’t know Harris and Waltz’ political history well enough to predict how their term will look. However, there needs to be a move to the left. The current issues in the US stem from inequality, both in wealth and in social standing. It needs to be made clear that if you are against a peaceful and just society for all (referring to ethnicity, abilities and identity, but not ideology), you have no place in society. And that’s a long way to go. And don’t stop just because some racists are cops.

    Even though stated as facts, all of these are just my opinion. I hope it makes sense, English is not my mother tongue



  • The goal of a banking system is to move money (possibly a lot) quickly, without physical exchange, for the maximum number of goods and services. States also want to control a currency for their fiscal policy, and they want to be able to go into debt.

    Established crypto fails the maximum number, fiscal policy and debt criteria. As soon as you introduce mandatory physical exchange via previous metals, what remains?

    And yes; Monero theoretically has an infinite amount of coins. However, it has reached tail emission since about two years, meaning the block reward is 0.6XMR every two minutes, which currently equates to about $65.000 per day. However, mining requires CPUs, which would need to be acquired first.

    All in all, the current numbers don’t make it a feasible solution.



  • Because for those states and companies, crypto is a toy and not real money. Also not having a bank means your transactions are always final (nobody is putting up with multisig).

    Crypto has been great for buying drugs via darknet and taking money from investors for partnerships that don’t exist or make sense. Been using it myself actually. Also facilitates gambling, either via crypto casinos or directly against its price. Outside of that, traditional banking wins.

    It’s also questionable whether a state could acquire so much crypto quietly at this point. Most big holders are either very publicly about it, like Argentina, or confiscated it from illegitimate sources (like when Germany raided a darknet market operator).


  • The value of cryptocurrency is usually tied to the price. The price is determined at exchanges. Russia however can’t use foreign exchanges as the accounts there normally require identification (some offer pseudonymous crypto to crypto swaps) as the exchanges don’t accept Russians, and if you want to convert crypto to a currency, you need a bank account calling in that currency, which is not happening. If the exchanges even transferred money to those as they’d lose their license.

    The value of cryptocurrency is much less than what you see on CMC etc. if you can’t actually convert it to those currencies. Which is the main issue.

    Add to this that most crypto currencies can be traced and having transacted with known Russian problematic accounts - even via proxies - taints your wallet, making it hard to impossible to buy and sell on exchanges later down the line.







  • You’ll find conservative women against abortion who had an abortion, because “for them it was different”.

    My favorite article was about some privileged women who were shocked when they found out that when abortion becomes illegal, they can’t have abortions anymore.

    Because for them, they were called “terminations”. I couldn’t make this up.

    And then they had the gall to proclaim that they would have been the ideal people to show the importance of the matter. Of course, a later is unimportant until it affects you, the privileged one.

    https://www.nytimes.com/2024/05/27/us/abortion-women-tfmr.html

    Zero empathy or reflection. Kind of impressive.