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Timothy B. Lee
@
binarybits
Washington, DC
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Cover technology policy and the future of transportation for @arstechnica. Previously @voxdotcom, @washingtonpost.
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63.456
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1.090
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28.511
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Timothy B. Lee
@binarybits
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1 сат |
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Do it! Book compentionism is bad.
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Timothy B. Lee
@binarybits
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1 сат |
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But surely the purpose isn't to force yourself to read bad books? Can you give yourself partial credit?
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Timothy B. Lee
@binarybits
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1 сат |
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Presumably you set the quota yourself and can give yourself a pass?
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Timothy B. Lee
@binarybits
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13 сати |
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Timothy B. Lee
@binarybits
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19 сати |
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The Blob, explained. nymag.com/intelligencer/… pic.twitter.com/KBWTagKarm
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Timothy B. Lee
@binarybits
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23 сата |
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But if they'd waited until the native network was ready and sold tokens at that point, they wouldn't have been investment contracts?
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Timothy B. Lee
@binarybits
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23 сата |
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So your view (or at least your interpretation of the SEC's argument) is that the ERC20 Kin tokens weren't the "real" tokens, and so effectively what Kik did was hold a pre-sale for the real tokens that were delivered later when they launched the native network?
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Timothy B. Lee
@binarybits
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23 сата |
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The latter. But also if ether was a security in 2016 it's not clear to me when it would have stopped being a security or how someone thinking about trading ether post-ICO would have known if/when non-security status had been achieved.
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Timothy B. Lee
@binarybits
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24 сата |
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I think the SEC alleges that no one was offering products for sale using Kin, which is different from the network being incapable of processing Kin payments. Maybe I missed that part of the SEC's allegations.
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Timothy B. Lee
@binarybits
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24 сата |
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Ah, I was looking for Twitter. Thanks. Still seems weird for the article caption to talk about Twitter.
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Timothy B. Lee
@binarybits
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11. јун |
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Did Jack Dorsey sign the statement? I'm not seeing his name on the PDF version.
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Timothy B. Lee
@binarybits
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11. јун |
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Your theory says that oil was exerting a major downward force on prices (not just on the inflation rate, but absolute prices) in the early 1980s. So something else must have been exerting an opposite force to keep prices rising.
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Timothy B. Lee
@binarybits
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11. јун |
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...?
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Timothy B. Lee
@binarybits
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11. јун |
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The price level kept rising at >3 percent a year as oil prices fell by >50 percent between 1982 and 1986. Maybe we shouldn't have expected double-digit deflation during those years but we should have seen at least some decline in prices right?
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Timothy B. Lee
@binarybits
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11. јун |
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It explains one link in the causal chain. Failing to explain preceding links isn't question-begging.
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Timothy B. Lee
@binarybits
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11. јун |
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I'll grant that banning insurance would probably lead to a one-time productivity boost by eliminating some low-value care. It's not obvious that it would increase the productivity growth rate.
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Timothy B. Lee
@binarybits
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11. јун |
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It seems eminently deniable to me! I can imagine a range of ways a post-insurance health care system might be organized with varying productivity levels.
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Timothy B. Lee
@binarybits
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11. јун |
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I feel like this is looking at things backwards. Productivity stagnation is the default state of economic systems. It doesn't necessarily have a cause. The Baumol effect is caused by rising productivity in other sectors.
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Timothy B. Lee
@binarybits
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11. јун |
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Price trends in summer camps and veterinary services suggest that insurance and regulation aren't the main issues.
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Timothy B. Lee
@binarybits
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11. јун |
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If that were the primary issue wouldn't we have had severe deflation when oil prices later declined?
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