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drewg__'s profile
drew
drew
drew
@drewg__

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drew

@drewg__

electronic trading technologist, illiquid commodity futures enthusiast, hedge fund/HFT apologist, big idiot

NYC
Joined April 2009

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    1. stephanie‏ @isosteph Feb 15

      stephanie Retweeted yves adele fartlow

      this was a good read with lots of data i am curious if ppl in crypto see clear holes or errors in this or if the most normal pro-crypto response is just "yeah this is true however it's cool", which is tbc a take i am perfectly fine withhttps://twitter.com/vogon/status/1361056624316571648 …

      stephanie added,

      yves adele fartlow @vogon
      this is a really good article about how bitcoin is a terrible tool for the problem it claims to solve, its enormous environmental costs are still being understated, and some fun anecdotes about the scale of the fraud it engenders (pirate HV transformers!) https://www.ofnumbers.com/2021/02/14/bitcoin-and-other-pow-coins-are-an-esg-nightmare/ …
      Show this thread
      6 replies 0 retweets 55 likes
      Show this thread
    2. drew‏ @drewg__ Feb 15
      Replying to @isosteph

      drew Retweeted drew

      fantastic article, and the part about how probabilistic transaction settlement is hardcoded into Bitcoin's design is an underrated part of why it's such a shit tool for paymentshttps://twitter.com/drewg__/status/1350093367514959876?s=20 …

      drew added,

      drew @drewg__
      As of this moment the amount of *unconfirmed* transactions in the mempool are ~78k and rising. If you want to confirm a transaction quickly you need to spend a lot of satoshis in confirmation incentive fees to jump the line or wait your turn
      Show this thread
      1 reply 0 retweets 1 like
      drew‏ @drewg__ Feb 15
      Replying to @drewg__ @isosteph

      Like I used to work in payments tech at GS and never in my entire time there did I hear a corporate treasurer complain about payments being "insufficiently confirmed" They all complain about settlement speed, where bitcoin famously performs very poorly

      2:46 PM - 15 Feb 2021 from Brooklyn, NY
      0 replies 0 retweets 0 likes

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