You’re assuming that the companies operating these programs would act in good faith which they often do not.

All the attackers I’ve known are extremely, pathologically interested in understanding why their exploits work.

Very often they need to understand it well to chain exploits

I mean someone attacking systems at scale for profit.

Why would a random video from 6 years ago be played on a left-leaning media network? isn't this video from the channel of a left-leaning media network?

Years of refinement on the taste of people with no taste has produced a model with no taste. Crazy

it's not shocking that this is the result of "art" from people that think complexity and accuracy are the only qualifying factors.

I tasted the model, but then I spit it right back out.

they put a special coating on the model to discourage this behavior

Ah, that explains it.

Lol, yeah.

Is it? I don’t think you need particularly high fidelity to fingerprint ads/programs.

People give tether their USD so they can bypass currency controls when buying and selling crypto online. There are a lot of them to put it mildly.

Can people holding tether for a day or two while entering of exiting crypto really explain these large amounts?

I don't think it has dawned on the HN crowd how insatiable the demand for dollars across the world is. This stuff is being used in all corners of the world, and accelerating.

There are plenty of people in jurisdictions where it is difficult to get dollars that use them for other things. Normal transactions, gambling, saving in USD. Not uncommon.

people don't exit

its just like your brokerage account, imagine if Schwab issued a stablecoin for every deposit someone made and only delete some of that stablecoin when they redeem

you'll find that people deposit and trade, they keep their balances there their entire life and beyond. when they trade, they are selling the stablecoin to someone else, someone else could redeem but they aren't either. stablecoins are liquid and useful, they have passive income capabilities while holding your principle value

so for Schwab's reporting, the balances always increase as people deposit more whenever they get their paycheck

this is what you're seeing with Tether, and all other leading stablecoins, as they grow at the same pace as they capture the same market

when actual traditional finance brokerage firms start issuing stablecoins, you'll see the same thing, the stablecoin just offers transparent real time behavior into their customer deposits

the only time stablecoin balances go down, and subsequently treasuries are offloaded behind the scenes, is when someone redeems a stablecoin for fiat currency. this isn't necessary, people don't want fiat or don't need to get fiat by redeeming it

I think the the market for those stablecoins is now broader than criminal and traders.

There is a huge demand for dollars by individuals outside of the US. Countries where people do not really trust their banks and currencies.

Even in the Euro zone, most saving accounts will give you about 1% after taxes. So why not going with USDT, USDC or EURC and get about 5% on a relatively safe lending platform.

You get 5%? If so, that is surely a big piece of the puzzle. Where do those % come from? Bonds don't yield that right?

There are many ways, the most common is to lend your stablecoins against collateral crypto. So if you put 1000 USD in the lending pool you have let's say the guarantee 2500 USD worth of bitcoin are serving as collateral. That will get you about 5% on a serious protocol.

You can also provide liquidity on a stable stablecoin/stablecoin pair on a reputable decentralized exchange and get some of the fees.

There are surely many other "safe" ways.

If you live in Switzerland you're probably not gonna bother but it is more transparent and safer than than what a lot of people have access to around the world.

I know the DAI stablecoin was already very popular as a saving account in Argentina around 2018-2019.

Why for a day or two?

I thought he meant basically buy tether with dollar transfer exchange for btc. That shouldn't take long.

I too have been insanely burned by an MPS bug. I wish Apple would throw an engineer or two at making sure their hardware works with PyTorch.

I guess I am the odd one out here. Reading it front-to-back has been a blast so far and even though i find my own site's design to be a bit more readable for long text, I certainly appreciate the strangeness of this one.

It’s nice to know that someone else suffered this pain. And that i bet on PGMs which really turned out to be the wrong horse…

ha! I took at least one PGM class myself. I had a difficult time with the material.

I get they want to have a lot of their own swift-based bindings but I wish they could also keep their MPS pytorch bindings up to date...