2021-11-24


Worthy

  • The Handwavy Technobabble Nothingburger

    The essence of the financial arguments against crypto assets are quite easily summarized. As I previously described, crypto assets have no claim to be currencies because their deflationary properties and volatility don’t fulfill the theoretical or even practical function of money. They aren’t commodities because they have no non-circular economic use case. There is a somewhat coherent proposition that crypto assets are effectively unregistered securities contracts, basically like stock in an empty company that doesn’t do anything except promote the sale of its own stock. Historically these investments would have been called “Blue Sky Contracts” in the era before the Uniform Securities Act of 1956 outlawed such things. And then there’s the claim that crypto assets are a piece of performance art about libertarian politics, but this is an unfalsifiable proposition.

    I’m not alone in believing in the fundamental technical uselessness of blockchains. There are tens of thousands of other people in the largest tech companies in the world that thanklessly push their organizations away from crypto adoption every day. The crypto asset bubble is perhaps the most divisive topic in tech of our era and possibly ever to exist in our field. It’s a scary but essential truth to realise that normal software engineers like us are an integral part of society’s immune system against the enormous moral hazard of technology-hyped asset bubbles metastasizing into systemic risk.


COVID / VaxCult

Culture War / Re segregation / Identdoctrination

TechSuck

  • The unbearable fussiness of the smart home - Stacey on IoT | Internet of Things news and analysis

    I have complained about Alexa getting too proactive before, and had turned off as many of the options that led it to make suggestions in my Alexa app (here’s how to do that), but she just kept talking to me. In the last three weeks, Google has made one unsolicited suggestion while Alexa has made at least five. Two of these were emergency alerts for slow-onset flooding in my area, which I had to go in and turn off. I didn’t even know Alexa tracked minor National Weather Service bulletins and alerted customers, much less when that feature was added. And it’s frustrating to have a device behave differently without foreknowledge, especially if the new function interrupts me with non-essential information while I’m working or reading

Economicon