I think about this a lot, both in IT and civil infrastructure. It looks so trivial to “fix” from the outside. In fact, it is incredibly draining to do the entirely crushing work of real policy changes internally. It’s harder than drafting a blank page of how the world should be.

It’s underremarked upon that stablecoins accomplish basically all of the original design goals for Bitcoin qua a transactional mechanism (instant free value transfer anywhere), but that nobody cares about this because nobody ever cared about that part of the pitch.

“Why do people care about stablecoins then?”

A mix of “they encourage dollar-denominated liquidity in the cryptocurrency ecosystem and discourage withdrawal of the same” and “they’re good for money laundering.”

“But they make value transfer between exchanges much faster!”

This was a solved problem in traditional finance, too, mostly through the extension of credit. (It doesn’t matter how long settlement takes if there is sufficient trust to enable credit.)

The Bitcoin ecosystem is *positively allergic* to credit, so you have to call it a coin for them to accept it. And after you call it a coin they ignore everything the world has learned about credit, like risk management.

“Stablecoins aren’t credit!”

They’re pretty much exactly credit? A tether is a zero-coupon Bitfinex bond with a non-functioning call option. I

What happens when a skill you have becomes obsolete? No, this isn't a R vs. Stata thread---it's a thread about a working paper w/ @sonnytambe!
https://t.co/w6nLf1tnST

The skill we look at is Adobe Flash, which @apple decided to no longer support back in 2010, which in turn caused demand/interest to plummet, as measured on @StackOverflow and in online labor markets, one of which is our empirical context

Despite the big fall-off in Flash jobs posted, very little else appeared to change in the market for Flash skills: wages for Flash jobs didn't fall, jobs didn't become easier to fill & openings weren't inundated with out-of-work Flash programmers

What happened was that (a) new entrants stopped specializing in Flash and (b) at least some existing Flash specialists started moving to other skills. In short, the demand shock quickly became a supply shock

At the level of the individual Flash worker, using a matched sample, we find (a) no fall-off in their wages, (b) some decline on-platform hours-worked. The most-focused on Flash workers had substantial increases in application intensity and a movement towards new skills

Next up in Privacy Technology at #enigma2021, Kelly Huang from @ethyca speaking about "GONE, BUT NOT "FORGOTTEN"—TECHNICAL & PRACTICAL CHALLENGES IN OPERATIONALIZING MODERN PRIVACY

Just imagine there's a global pandemic forcing everyone to stay home and buy their stuff over the internet. And you've been working on your sanitization-on-demand startup. You've got more users than you can count! ... literally, because your data's all over.

Now you're a multi-national international country with privacy issues because your information is all over the place.

Now a user writes to request you delete their data. Where is it? How do you do that? Who's responsible for privacy in your business.

How do you operationalize privacy rights?

Primary stakeholders:
* Legal
* Business
* Engineering

We spend a lot of time on Twitter analyzing the legal rulings, but it's harder where the "rubber meets the code" 🥁

Thread – Dump the Legacy Media; Turn to These News Sources

A. We all need sources less tainted by the Big Tech/globalist narratives that are echoed repeatedly throughout the legacy media. My brother sent me a list of alternatives from the Noq report.