Could you explain what do BRICS do with dollars they borrowed from PRC? Buy oil and so the dollars flow to SA. Then what do BRICS do when the dollars loan to PRC is due?
It's not limited to BRICs but many emerging economies or distressed countries PRC wants to gain influence. Dollars attached to specific PRC projects, i.e. BRI, so they buy PRC industrial inputs, goods, equipment, contracts PRC SEOs to build XYZ. It goes from a Chinese bank to a Chinese contractor who buys other shit. But the shit they are not buying is US treasuries, and even if they did, not at PBoC/central bank for storage low yield rates that subsidizes US debt. Sometimes there's more generalized debt servicing swaplines, but regardless When dollars come due, PRC can take rmb/commodities/assets (rarely aka debt trap). If borrowing countries payback in USD, then cycle repeats. PRC is basically exploiting UDS network / liquidity effects without paying exorbitant privilege. Well they do pay, as in they take on lending risks, but their USD reserve is inherently not safe anymore post RU sanctions, so might as well as use it now.
This is really interesting. Assuming I understood it correctly, I wonder why the protocol does not allow immediate return when it gave an address and payment amount. Subsequent attempts should be blocked until some kind of checksum of amount and wallet address is returned. This checksum should be verified by a third-party. This would save each server from implementing the verification logic.
Two missing pieces that would really help build a proper digital economy are:
1. If the content could be consumed by only the requesting party, and not copied and stored for future,
2. if there is some kind of rating on the content, ideally issued by a human.
Maybe some kind of DRM or Homomorphic Encryption could solve the first problem and the second could be solved by human raters forming DAO based rating agencies for different domains. Their expertise could be gauged by blockchain-based evidences and they will have to stake some kind of expensive cryptocurrency to join such a DAO akin to license. Content and Raters could be discovered via like BitTorrent Indexes, thus eliminating advertisers.
I say these as missing pieces because it will allow humans to remain an important part of digital economy by supplying their expertise, while eliminating the middle man. Humans should not be simply cogs in digital economy whose value are extracted and then discarded but should be the reason for its value.
By solving double-spending problem on content we ensure that humans are paid each time. This will encourage them to keep on building new expertise in offline ways - thus advancing civilization.
For example when we want a good book to read or movie to watch, we look at Amazon ratings or Goodreads review. The people who provide these ratings have little skin in the game. If they have to obtain license and are paid, then when they rate an authorship - just like bonds are rated by Rating agencies - the work can be more valuable. Everyone will have reputation to preserve.
Mindblowing! This is 100x VB6. The generated UIs are beautiful and professional. I am still trying it out and building an app for tracking expenses but it is working very well. The conversational dialogue it has with the developer is just fantastic. I am amazed at how clear the user experience was in Chris' mind. I am not sure what LLM is being used but this is better experience than any LLM. Given this is first version, I look forward to what comes next!
Few issues:
1. The 150 message limit is understable but it suddenly pops up and you lose significant work. I was working on UI mockup and just as I had finished and was ready to go on implementation, this limit appeared and significant part of my work was lost.
2. After the first credit, the credit seems to exhaust pretty fast which makes it expensive, especially when you are trying it out.
3. Also I don't understand when you ask it to prototype different screens, why does it overwrites the same file.
4. It is not able to stop to seek user feedback but keeps trying different approach which kind of exhausts the credit. It would be nice if it describes its approach, so the human developer can provide their feedback.
5. It seems it is using OpenAI because it is often self-congratulatory to the point of being annoying sometimes.
Very impressive! Could you share some books, training, experiences that helped you reach this stage so a hobbyist could catch up? There are so many parts - compiler design, basic electronics, computer architecture etc. Maybe a blog post.
I have a CS/applied math background, my main job is software development, so I don't have problems with the software part. If you are interested in compiler design specifically, you can find a lot to read or to watch online.
When building my system, I was inspired by 8 bit retro computers like ZX Spectrum. Their architecture is straightforward and easy to understand.
Electronics just fascinates me, but I can't really point out a single source which gave me the insight. A lot of playing around with transistors, microcontrollers, logic gates gives the intution how to design stuff.
To do a good job I need to be there and experience the pain firsthand. There are many subtle nuances that are really hard to spot from a distance.
This is why I never really covered studying or raising children.
German bureaucracy is hyperlocal. I rely on more and more on a local network of experts to do a good job. In Munich I'd be mostly starting from scratch.
However most of the website covers all of Germany. A smarter person would have started All About Germany, if only for SEO purposes.
This was not only a very informative read but felt like an amazing achievement if everything described here was developed by one person (the author - @muggermuch).
The breadth of knowledge demonstrated by author from technology (bringing performance down to 14 minutes) to ML to deep understanding of financial markets is super-impressive.
Granted the author has an educational background in computer science and has been a trader which probably explains many of his abilities but to my small brain it feels next-level achievement.
Maybe I live in average circle of finance but I have never met nor heard of a person who could single-handedly conjuncture and implement such a system. To my knowledge, a typical hedge fund has several highly-paid people in different teams to build and maintain such a system.
I never thought one-person could do it. I genuinely wonder how he managed to wrap his head across this much knowledge. He seem to fall in 10x category. Kudos!
