"What does Wall Street need nanosecond precision for" = "Why would anyone ever need more than 640k of memory?"https://twitter.com/dschatsky/status/1013035134990344194 …
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Mostly a comment on lack of imagination. Latter is an (apocryphal) Bill Gates quote from the 80s. As for why it's valuable, the NYT article in OP actually addresses it fairly well despite the subtext of "this is frivolous and excessive"
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Being able to cheaply determine who has rights to an asset in the case of a near-simultaneous buy could reduce a lot of uncertainty!
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