Systamental

An open-source community dedicated to providing the highest quality data, algorithms and analytical tools to digital asset investors

[Systamental @Systamental]

1) Someone was asking whether the betting against beta (BAB) factor also worked in crypto? The idea behind BAB is that leverage constrained investors bid up higher beta assets in search of higher returns, which ultimately leads to lower expected returns. https://t.co/mBIJVmPgI3

[Systamental @Systamental]

@ekrii3 Most would just call this residualization or orthogonalization. Typical in risk decomposition to better isolate drivers of risk/remove multicolinearity from factors: https://t.co/70RIkBHVoW

[Systamental @Systamental]

@100trillionUSD What happened to stocks-to-flow projections?

[Systamental @Systamental]

@BittelJulien We don’t have sufficient sample size (n=3 halving cycles) to make any statistical inference with confidence. Also, if financial conditions tighten because inflation remains elevated, then the halving fairy may not show up

[Systamental @Systamental]

@MarkBestForex @CyberAdair

[Abstract | Interchain App Platform @AbstractSDK]

✨ Introducing Abstract MyFi ✨

The new era of DeFi putting YOU in control of your financial infrastructure.

Read the article 👇

or get the TL;DR 🧵 (1/7)

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[Systamental @Systamental]

You can try to predict the future or you can build it

[Systamental @Systamental]

@richardcraib When debt dynamics are unsustainable, the real return to bond holders < 0, aka financial repression. Then if too low relative to foreign rates, the currency goes. But in local FX, equities can rally, eg Japan recently. The final phase of inflation is bad for equities

[Richard Craib @richardcraib]

hard times create strong coins, strong coins create good times, good times create weak coins, and weak coins create hard times.

[alz @alz_zyd_]

Paper and link!

https://t.co/DXzpW3XGWz

[Systamental @Systamental]

@CyberAdair There’s a widespread belief that fraud protection is free. Clearly they’ve never heard of the saying “no free lunch”

[Systamental @Systamental]

@BobEUnlimited The structural backdrop is more inflationary than it has been in past decades. Many are extrapolating cyclical dynamics without carefully considering that structural backdrop. Markets are good at pricing in cyclical, not good at pricing structural.

[Systamental @Systamental]

@buchmanster @balajis If you ask to the most credible people on this, ie a) those with the best track record and b) those with skin in the game, they would tell you the game changer was fiscal policy, not monetary policy: https://t.co/yaL3WiPeOi

[Systamental @Systamental]

@choffstein One simple step towards solving the replication crisis is to move away from static PDFs to notebooks where data and code live transparently side by side. And open source the review process.

[Papi @PapiChuloGrim]

The enforcement against CZ is insane. For perspective, in 2010 Wachovia Bank, owned by Wells Fargo, was shown to have purposefully laundered $378.4 BILLION for the Sinaloa cartel between 2004 & 2007.

That amount was around 1/3 of Mexico’s annual GDP.

Their fine?

$160 million.

[Balaji @balajis]

Second Bitcoin President.

Congratulations to @JMilei on his landslide victory in Argentina.

[Systamental @Systamental]

@choffstein And gold which is itself a commodity driven by real rates can probably be replicated with commodities stacked on long rates as well.

[Systamental @Systamental]

@jsneedles @Jason “Spend to grow Miguel! Spend to grooowwww!”

[Systamental @Systamental]

@CyberAdair NFTs seem like a natural solution for identity verification systems

[Yann LeCun @ylecun]

Once AI systems become more intelligent than humans, humans we will *still* be the "apex species."

Equating intelligence with dominance is the main fallacy of the whole debate about AI existential risk.
It's just wrong.
Even *within* the human species It's wrong: it's *not* the smartest among us who dominate the others.
More importantly, it's not the smartest among us who *want* to dominate others and who set the agenda.

We are subservient to our drives, built into us by evolution.
Because evolution made us a social species with a hierarchical social structure, some of us have a drive to dominate, and others not so much.
But that drive has absolutely nothing to do with intelligence: chimpanzees, baboons, and wolves have similar drives.
Orangutans do not because they are not a social species. And they are pretty darn smart.

AI systems will become more intelligent than humans, but they will still be subservient to us.
They same way the members of the staff of politicians or business leaders are often smarter than their leader.
But their leader still calls the shot, and most staff members have no desire to take their place.

We will design AI to be like the supersmart-but-non-dominating staff member.

The "apex species" is not the smartest but the one that sets the overall agenda.
That will be us.