The buyers and sellers of the ETF determine the price. It is traded on a stock exchange, just like shares.
How will the ETF hold bitcoin? Without being hacked?
Most likely their bitcoin will be isolated from the Internet. They will not be buying and selling bitcoin directly. Their clients buy/sell to each other, not to/from the fund.
What happens if the ETF is hacked? (and it will be!)
... yet it has an extremely poor track record of doing that. People that go to prison are more likely to re-offend than people given more lenient punishments.
A few centuries ago, we executed people for stealing bread. People still stole bread. Harsh punishments have far less deterrent value than the certainty of getting caught.
If we start imprisoning CEO for making mistakes, far fewer honest people will want the job. So the pay will have to be much higher, and more dishonest people will be attracted since they can steal and embezzle enough to offset the legal jeopardy.
Are they using the ARM chips as a backup plan or have they even given up on their own efforts?
These processors are fabricated in China
By the way, is China still restricted from access to U.S. Supercomputer technology (seems hardly worth it now)
There are restrictions on supercomputers and also on the latest steppers for fabrication. These restrictions are seldom based on any logical rationale. Remember back in the 1990s when T-shirts were classified as munitions and banned for export?
The most likely outcome of these restrictions is to compel China to develop their own technology, improve it until it matches or improves on western tech, and then take over the market. So we will end up dependent on them.
and perhaps that category should be extended to include A.I.?
The hard part of AI is the software. Restrictions on sharing AI research will push more and more of it out of America.
Maybe that's because we're putting the wrong people in jail.
Prison should be for violent people that need to be physically separated from civilized society. For everyone else there are more appropriate punishments. For instance, the CEO of Equifax could wear an anklet tracking device while spending 60 hours per week changing bedpans in a nursing home for the next ten years. Instead of costing taxpayers, he would be benefiting society, and his family would still be intact.
If he is separated from his family, his children will grow up without moral guidance, thus increasing the chance that they will get MBAs and try to become CEOs themselves, and the cycle will continue for yet another generation.
Actually, I think CTRL-ALT-DEL is one of the things they got right. There is little chance of doing it by accident, a dedicated button would have been a waste of keyboard real estate, and resulted in far more inadvertent resets.
It actually makes sense that the decision was forced on Microsoft, and if the decision had been left up to Bill, he would have taken the dumb alternative.
Overpopulation has been dismissed in the same manner
Hogwash. Overpopulation was recognized as a problem by nearly everyone. The debate was about what to do about it, not whether the problem existed.
Today there is a broad consensus that the solution to overpopulation is peace, prosperity, and low infant mortality. Once you have those, birthrates drop to replacement levels (or below) in a generation.
When you add together all the people on Medicare, Medicaid, and the VA, yes, the government runs a BIG part of healthcare in the US
The US government spends about $6000 per capita on healthcare. Sweden's government spends about $4000 per capita. So America's health care is actually more socialist than Sweden's by total expenditure, although slightly less (60% vs 75%) as a percentage.
Punishing stupid with jail time has been proven to reduce, though not eliminate, stupid's influence on the average citizen.
This is an idiotic knee-jerk solution. America already imprisons far more people than other countries, and we expend huge resources to do it, despite evidence that it increases future crime through direct recidivism as well as indirectly by destroying families and degrading communities.
So now we are going to put even more people in prison, not because they are violent, but because they are stupid?
Where is your "proof" that prison reduces stupidity? The PIC is a result of stupidity, not a solution to it.
A far better solution is monetary penalties, that reduce the harm from stupidity by incentivising investors and shareholders to demand verified compliance with industry best practices.
I don't know what is worse, your comment full of dumb or the fact you got modded up for it.
The OP is making an Appeal to Stupidity. AGW is complicated, and he doesn't understand it, so therefore it can be flippantly dismissed as a non-problem.
The argument is surprisingly effective, and is also impervious to logic, facts, and evidence, since the validity of those has been dismissed a priori. It is especially effective among people that have a vested interest in accepting it.
Invest $1 million in a new business (or $500K if it is in "targetted employment area") and you get an EB-5 visa.
This is smart policy. We send money to China in exchange for containers full of Walmart merchandise, and then the money flows back into America as investments by Chinese who then become American residents. Win win.
If it is personal transportation, and it flies from point A to point B, where neither A nor B is an airport, then it is a flying car. Any other details don't matter.
Most communist regimes have come to power in revolutions
Most countries have had a revolution at some point in the past, and while most of them lead to dictatorships, those dictatorships often reform into democracies. But Marxist dictatorships have only been able to reform by disposing of the Marxism along with the dictator.
(Kerala's state government being the only example I know of)
There are three places that have fascinated Economists: Japan, Argentina, and... Kerala.
Japan was the first non-Western country to because a 1st World economy, and it did so much faster than had ever happened before.
Argentina is the only 1st World country that has descended to the 3rd World. It moved backwards into poverty while the rest of the world was going up.
Kerala is just weird. It has high literacy, high education levels, low population growth, low infant mortality, clean government, and all the hallmarks of a rich and prosperous economy... yet it is poor. Much of this may be due to a predilection for socialist policies, but even that doesn't really explain the economic underperformance. In recent years, Kerala has been doing better, and is now above the average for Indian states, but still far below what the economic indicators predict.
You could make the same argument about democracy, its only worked in a handful of countries.
Many dozens of countries economically improved after becoming democratic. Far fewer regressed.
I think there is a fair argument that dictators didn't come out of Marx.
Dictatorships can arise under almost any economic system. Hitler, Mussolini, and Pinochet all got along with capitalists. But capitalism can also thrive in free societies. There is no examples of Marxism doing that. In every instance, it has led to dictatorship, usually reinforced with personality cults.
Yeah, 'cause showing support for governments giving incentives to businesses to locate in their jurisdictions is just so, umm, anti-business. Right.
Yes. Cronyism and government handouts are indeed "anti-business". "Pro-business" means free markets, fair competition, and equal treatment of all businesses.
The vary large number of cities that benefited from economic incentives for business would disagree that this is self-destructive.
Many economist believe that the "very large number" is zero, and that these incentives just shift jobs away from unsubsidized sectors. Every dollar of subsidy that Amazon receives means an extra dollar in taxes somewhere else in the local economy.
These subsidies are premised on the assumption that politicians are smarter than capitalists at making investment decisions. If that were true, the Soviet Union would have won the Cold War.
No goods are being traded or having the sale impinged upon in this case.
Amazon is getting taxpayer funded subsidizes which its competitors are not getting. That clearly gives them a competitive advantage in interstate commerce that most reasonable people should see as unfair.
Lisp isn't included because there's 2 jobs in the world that actually use it
Indeed. Over my 30 year career, I have seen only one major project written in Lisp: Yahoo Stores. They hired a few Lisp programmers to help rewrite it in C++.
Karl also (correctly) predicted that it would become more common as interest rates fell toward zero. As the return on capital fades away, capitalists turn to rent seeking at the expense of the taxpayers.
but all anyone ever seems to remember about him is Stalin & Mao put his name on their Pamphlets...
Clearly Stalin and Mao are not what Marx intended, but they were the inevitable result of his ideology. His belief that the dictatorship of the proletariat would remain uncorrupted and "fade away" was completely absurd. Human nature doesn't work that way.
Instead of passing legislation to grant amazon incentives, there should be federal law banning the practice outright.
This is the best solution. The incentives are a prisoner's dilemma. Each jurisdiction feels compelled to offer them because others offer them, but they would all be better off if no one offered them. Preventing this sort of self-destructive competition between the states is exactly why the commerce clause exists.
Instead, the states should focus on broad policies that help all businesses, such as streamlining permits, regulatory transparency, and reforming silly zoning laws that keep startups out of garages.
If you figure that 10% of Visa transactions are some kind of attempted fraud...
That is because all you need for many credit card transactions is the CC number and the expiration date, which are semi-public. While crypto-currencies may be used for nefarious purposes, it is much harder for the transaction itself to be fraudulent.
Slashdot Mirror
It's futures-based, so I don't think they have to actually hold any bitcoin.
ETFs are not futures. It would be insanely risky for them to do this without holding actual bitcoins, and I doubt if the SEC would let them do that.
So, how will they determine the price of bitcoin?
The buyers and sellers of the ETF determine the price. It is traded on a stock exchange, just like shares.
How will the ETF hold bitcoin? Without being hacked?
Most likely their bitcoin will be isolated from the Internet. They will not be buying and selling bitcoin directly. Their clients buy/sell to each other, not to/from the fund.
What happens if the ETF is hacked? (and it will be!)
When has the NYSE been hacked?
Since the Judge doesn't believe that the blatant existence of shitty default security can and often will lead to data breaches
The judge didn't believe that because the plaintiffs didn't provide any evidence that it is true.
I suggest we force the Judge to install the hardware
I suggest we require plaintiffs to provide evidence to support their claims.
prison is to DETER bad behavior.
... yet it has an extremely poor track record of doing that. People that go to prison are more likely to re-offend than people given more lenient punishments.
A few centuries ago, we executed people for stealing bread. People still stole bread. Harsh punishments have far less deterrent value than the certainty of getting caught.
If we start imprisoning CEO for making mistakes, far fewer honest people will want the job. So the pay will have to be much higher, and more dishonest people will be attracted since they can steal and embezzle enough to offset the legal jeopardy.
Are they using the ARM chips as a backup plan or have they even given up on their own efforts?
These processors are fabricated in China
By the way, is China still restricted from access to U.S. Supercomputer technology (seems hardly worth it now)
There are restrictions on supercomputers and also on the latest steppers for fabrication. These restrictions are seldom based on any logical rationale. Remember back in the 1990s when T-shirts were classified as munitions and banned for export?
The most likely outcome of these restrictions is to compel China to develop their own technology, improve it until it matches or improves on western tech, and then take over the market. So we will end up dependent on them.
and perhaps that category should be extended to include A.I.?
The hard part of AI is the software. Restrictions on sharing AI research will push more and more of it out of America.
Maybe that's because we're putting the wrong people in jail.
Prison should be for violent people that need to be physically separated from civilized society. For everyone else there are more appropriate punishments. For instance, the CEO of Equifax could wear an anklet tracking device while spending 60 hours per week changing bedpans in a nursing home for the next ten years. Instead of costing taxpayers, he would be benefiting society, and his family would still be intact.
If he is separated from his family, his children will grow up without moral guidance, thus increasing the chance that they will get MBAs and try to become CEOs themselves, and the cycle will continue for yet another generation.
This was my reaction exactly.
Actually, I think CTRL-ALT-DEL is one of the things they got right. There is little chance of doing it by accident, a dedicated button would have been a waste of keyboard real estate, and resulted in far more inadvertent resets.
It actually makes sense that the decision was forced on Microsoft, and if the decision had been left up to Bill, he would have taken the dumb alternative.
Overpopulation has been dismissed in the same manner
Hogwash. Overpopulation was recognized as a problem by nearly everyone. The debate was about what to do about it, not whether the problem existed.
Today there is a broad consensus that the solution to overpopulation is peace, prosperity, and low infant mortality. Once you have those, birthrates drop to replacement levels (or below) in a generation.
When you add together all the people on Medicare, Medicaid, and the VA, yes, the government runs a BIG part of healthcare in the US
The US government spends about $6000 per capita on healthcare. Sweden's government spends about $4000 per capita. So America's health care is actually more socialist than Sweden's by total expenditure, although slightly less (60% vs 75%) as a percentage.
Punishing stupid with jail time has been proven to reduce, though not eliminate, stupid's influence on the average citizen.
This is an idiotic knee-jerk solution. America already imprisons far more people than other countries, and we expend huge resources to do it, despite evidence that it increases future crime through direct recidivism as well as indirectly by destroying families and degrading communities.
So now we are going to put even more people in prison, not because they are violent, but because they are stupid?
Where is your "proof" that prison reduces stupidity? The PIC is a result of stupidity, not a solution to it.
A far better solution is monetary penalties, that reduce the harm from stupidity by incentivising investors and shareholders to demand verified compliance with industry best practices.
I don't know what is worse, your comment full of dumb or the fact you got modded up for it.
The OP is making an Appeal to Stupidity. AGW is complicated, and he doesn't understand it, so therefore it can be flippantly dismissed as a non-problem.
The argument is surprisingly effective, and is also impervious to logic, facts, and evidence, since the validity of those has been dismissed a priori. It is especially effective among people that have a vested interest in accepting it.
Traditionally it also meant something that you could drive on the road as well as fly
I watched The Jetsons every weekend, and George's flying car never once went on a road. It doesn't even have wheels.
Invest $1 million in a new business (or $500K if it is in "targetted employment area") and you get an EB-5 visa.
This is smart policy. We send money to China in exchange for containers full of Walmart merchandise, and then the money flows back into America as investments by Chinese who then become American residents. Win win.
Aeroplanes are not cars.
If it is personal transportation, and it flies from point A to point B, where neither A nor B is an airport, then it is a flying car. Any other details don't matter.
Most communist regimes have come to power in revolutions
Most countries have had a revolution at some point in the past, and while most of them lead to dictatorships, those dictatorships often reform into democracies. But Marxist dictatorships have only been able to reform by disposing of the Marxism along with the dictator.
(Kerala's state government being the only example I know of)
There are three places that have fascinated Economists: Japan, Argentina, and ... Kerala.
Japan was the first non-Western country to because a 1st World economy, and it did so much faster than had ever happened before.
Argentina is the only 1st World country that has descended to the 3rd World. It moved backwards into poverty while the rest of the world was going up.
Kerala is just weird. It has high literacy, high education levels, low population growth, low infant mortality, clean government, and all the hallmarks of a rich and prosperous economy ... yet it is poor. Much of this may be due to a predilection for socialist policies, but even that doesn't really explain the economic underperformance. In recent years, Kerala has been doing better, and is now above the average for Indian states, but still far below what the economic indicators predict.
You could make the same argument about democracy, its only worked in a handful of countries.
Many dozens of countries economically improved after becoming democratic. Far fewer regressed.
I think there is a fair argument that dictators didn't come out of Marx.
Dictatorships can arise under almost any economic system. Hitler, Mussolini, and Pinochet all got along with capitalists. But capitalism can also thrive in free societies. There is no examples of Marxism doing that. In every instance, it has led to dictatorship, usually reinforced with personality cults.
Yeah, 'cause showing support for governments giving incentives to businesses to locate in their jurisdictions is just so, umm, anti-business. Right.
Yes. Cronyism and government handouts are indeed "anti-business". "Pro-business" means free markets, fair competition, and equal treatment of all businesses.
The vary large number of cities that benefited from economic incentives for business would disagree that this is self-destructive.
Many economist believe that the "very large number" is zero, and that these incentives just shift jobs away from unsubsidized sectors. Every dollar of subsidy that Amazon receives means an extra dollar in taxes somewhere else in the local economy.
These subsidies are premised on the assumption that politicians are smarter than capitalists at making investment decisions. If that were true, the Soviet Union would have won the Cold War.
No goods are being traded or having the sale impinged upon in this case.
Amazon is getting taxpayer funded subsidizes which its competitors are not getting. That clearly gives them a competitive advantage in interstate commerce that most reasonable people should see as unfair.
What's next'? States (and even cities) can't compete for the Olympics? They can't compete to have the Super Bowl?
Yes, that would be fantastic. I don't pay taxes so my local government can hand them over to a sport franchise.
You aren't giving an accurate view of the average salary in Kansas if you aren't including California jobs that allow remote workers.
Remote jobs go to Mumbai not Topeka.
Lisp isn't included because there's 2 jobs in the world that actually use it
Indeed. Over my 30 year career, I have seen only one major project written in Lisp: Yahoo Stores. They hired a few Lisp programmers to help rewrite it in C++.
Marx talked about this in his books
Karl also (correctly) predicted that it would become more common as interest rates fell toward zero. As the return on capital fades away, capitalists turn to rent seeking at the expense of the taxpayers.
but all anyone ever seems to remember about him is Stalin & Mao put his name on their Pamphlets...
Clearly Stalin and Mao are not what Marx intended, but they were the inevitable result of his ideology. His belief that the dictatorship of the proletariat would remain uncorrupted and "fade away" was completely absurd. Human nature doesn't work that way.
Instead of passing legislation to grant amazon incentives, there should be federal law banning the practice outright.
This is the best solution. The incentives are a prisoner's dilemma. Each jurisdiction feels compelled to offer them because others offer them, but they would all be better off if no one offered them. Preventing this sort of self-destructive competition between the states is exactly why the commerce clause exists.
Instead, the states should focus on broad policies that help all businesses, such as streamlining permits, regulatory transparency, and reforming silly zoning laws that keep startups out of garages.
If you figure that 10% of Visa transactions are some kind of attempted fraud...
That is because all you need for many credit card transactions is the CC number and the expiration date, which are semi-public. While crypto-currencies may be used for nefarious purposes, it is much harder for the transaction itself to be fraudulent.