Recent comments in /f/technology

MenWhoStareAtBoats t1_jeatxmz wrote

Reply to comment by [deleted] in It's becoming increasingly clear that fintech has a fraud problem by marketrent

You’re misusing the concept of “fact vs opinion“(more words you don’t understand). The concept that you’re actually struggling to communicate is “accurate vs inaccurate.” Estimates, like other data, can be either accurate or inaccurate. What evidence do you have that the estimate quoted in this piece is inaccurate? And why are you completely ignoring the rest of the data in the article?

2

ConnectionDifficult6 t1_jeatmpo wrote

Reply to $52 Billion Chipmaking Plan Is Racing Toward Failure by savuporo

A little reality check: This vitally crucial industrial investment that has the potential to propel the US to dominate the second half of the 21st century should be a no-brainer. Whoever dominates advanced microprocessor (also nano processor) fabrication will impact all other industries globally. But 52 billion is a chump change when considering its magnitude and significance. Especially when we can spend over 5 trillion dollars to invade other countries in the name of national security, we should easily be shelling out more than a trillion for this sort of endeavor that will determine our strategic and economic future. (Akin to a new "moonshot".)

We need the same intensity that was applied to the "space race" and leave nothing to chance. The capital can be raised through both WallStreet as well as government debt. Politics aside, we need to push for far more H1 visas to get the best and the brightest over here as we do not have enough homegrown talent to get the job done (not enough microprocessor chip engineers or fabricators). If the money is right, they'll forgo a lot of the regulatory constraints, as every state wants these high-paying jobs and will cut some of the red tapes. Either we get serious about our future as a world leader in technology or we can leave US manufacturing to the likes of "scented candles" to sell on Etsy.

2

400921FB54442D18 t1_jeatgdr wrote

Reply to comment by SlowMotionPanic in It's becoming increasingly clear that fintech has a fraud problem by marketrent

I don't know or care enough about Bitcoin to address any of your technical points -- I'm sure /u/gansmaltz will take that on -- but there are at least two obvious flaws in your claims here:

> People buy and hold it like gold or any other asset they think will appreciate.

I'm old enough to remember when my grandparents were certain that buying a bunch of silver and hiding it in their garage would pay for my college education. When they died, we cleaned it out and sold it for about $20.

... I don't think I need to spell out where I'm going with this. Those who cannot learn from the past are doomed to repeat it.

> People don’t necessarily get into Bitcoin because they think a fiat currency is going to fail.

In the early days of Bitcoin, this was the major argument that enthusiasts were using to try to encourage people to get into crypto -- being isolated from the risks of a state-backed fiat currency. So, to hear the crypto community now say that that isn't and wasn't the point, means that some substantial fraction of that community must be lying. Either they're lying now when they say that isn't the purpose, or they were lying 10-15 years ago when they said that that was the purpose, but either way, this doesn't say anything good about whether we should trust the crypto community with our money.

0

Test19s t1_jeat7a9 wrote

Reply to comment by Fenix42 in It's becoming increasingly clear that fintech has a fraud problem by marketrent

Working age populations in developed western countries are historically low when compared to the amount of elders they must sustain, and the ratios may be even worse in developed Asia. Furthermore, lately a lot of developing countries have been struggling with infrastructure and skill issues. Look at population pyramids. Or articles like https://www.reuters.com/markets/davos-2023-talent-shortage-rules-tight-labour-markets-manpowergroup-2023-01-20/

If you have the same number of mouths to feed but fewer prime-age workers relatively speaking, there are going to be issues unless you can convince the elders to retire overseas or in low-cost areas.

1

400921FB54442D18 t1_jearyb7 wrote

Reply to comment by dratseb in It's becoming increasingly clear that fintech has a fraud problem by marketrent

That's just it; there's no such thing as the "original owners" of any piece of land. Anyone who shows up to any unclaimed land and says "well, this is mine now," is at best stealing from everyone, and at worst simply lying. And anyone who then buys that land from that person is complicit in the theft or lie -- they're purchasing stolen goods.

If you mean land that was stolen from the native peoples who lived on it, then (generally) those native peoples understood the concept that the land belongs to everyone, because it is necessary to support everyone. They wouldn't claim to "own" that land because they rightly recognize that land can't validly be owned by a single entity.

(Disclaimer: I'm not an expert in the nuances of historic land policies among Native American tribes and communities, and I'm even less of an expert in how that played out in other parts of the world. I live in the American West, where you pick up a lot of this stuff by osmosis, but if someone with a formal education in this area wants to clarify what I'm saying, corrections are welcome.)

3