Viktor Szathmáry (@phraktle) header
Viktor Szathmáry (@phraktle) profile picture

Tech entrepreneur, investor, algo trader, dad, drummer. Founder @ https://xitter.gq/t.co/76u3aOiZ5J #rwri

Budapest, Hungary
Joined February 2007
Photo by Viktor Szathmáry (@phraktle)Photo by Viktor Szathmáry (@phraktle)Photo by Viktor Szathmáry (@phraktle)Photo by Viktor Szathmáry (@phraktle)Photo by Viktor Szathmáry (@phraktle)Photo by Viktor Szathmáry (@phraktle)Photo by Viktor Szathmáry (@phraktle)Photo by Viktor Szathmáry (@phraktle)Photo by Viktor Szathmáry (@phraktle)Photo by Viktor Szathmáry (@phraktle)
Viktor Szathmáry retweeted
That's because this dude doesn't know what education is. He speaks of growing wheat, herding sheep, riding a horse, and so on, but in the era of these skills, this was the kind of education given to slaves. Only a slave, a person who was owned as property, and used as a machine for a task, could be expected to do one task for his whole life. A gentleman, or even a freeman of the lower classes, was not a machine for labor, but a person who could be expected to act in his own interests, and thus would need to do many different things throughout his life, depending on what served his goals at the time. And he would need to be able to independently learn these tasks, rather than needing to be taught them in childhood. Therefore if a boy was to formally educated, that might include some of gentleman's skills (riding, fighting with a sword, the management of finances), but his education was centered around what education really meant: A fundamental grounding in how to live and thrive as an independent and free-willed person. Thus, he was taught the seven liberal arts of classical antiquity: - Arithmetic - Geometry - Music - Astronomy - Grammar - Logic - Rhetoric These were not trade skills in the sense that they did not enable the performance of any particular trade or task, but that wasn't the point. The point was that they taught the young gentleman how to think and learn. By contrast, modern government schools were founded to train clerks and factory workers at public expense... a servant class with the specific skills necessary to be useful workers, but not the general education to be independent or question their betters? Have you noticed which two of these arts are utterly absent from a modern government-school "education"? That's right, logic and rhetoric. Logic is how to arrive at true conclusions from known facts. Rhetoric is how to persuade. A servant educated in logic might notice that the things he is being told are false. A servant educated in rhetoric might notice the techniques that are being used to persuade him to act in the rulers' interests instead of his own. If you conceive of your children's education as training in career skills, whether that be growing rice or programming a computer, you are preparing them to be slaves, not free men. If you properly prepare them to be free men, what skills will be lucrative or useful twenty years from now is irrelevant, because they will be prepared to learn them. In my opinion, the seven liberal arts of the modern world are: - Logic: how to derive truth from known facts - Statistics: how to understand the implications of data - Rhetoric: how to persuade, and spot persuasion tactics - Research: how to gather information on an unknown subject - (Practical) Psychology: how to discern and understand the true motives of others - Investment: how to manage and grow existing assets - Agency: how to make decisions about what course to pursue, and proactively take action to pursue it. Notice that you didn't learn any of these things in school, even if you went to a so-called "liberal arts" college. Instead, they taught you things about mitochondria and calculus and symbolism in Jon Steinbeck novels where a boy has a dog, and the dog dies. That's because liberal arts, whether you define them as I have, or slightly differently, are the arts of the master, the arts that make one a master, and therefore not be taught in a school for slaves. Worry less about which "career skills" AI will take over, and more about whether you are training to be, and training your kids to be, high-agency, perceptive, self-motivated people who can navigate an unknowable future with an adaptable mind.
Yuval Noah Harari: we have no idea what to teach young people that will still be relevant in 20 years
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Viktor Szathmáry retweeted
Today, the SEC appears to have continued their ongoing crusade to protect terrorist funding and large bank monopolies at the expense of the American consumer, innocent civilians in warzones, and technology that was created after the year 1940. I want to be clear that I'm not anti-regulator in saying this. Quite the reverse, actually! I have a lot of respect for the work of the Federal Reserve, the NYDFS, the JFSA, the CFTC, and others. Are they perfect? No, nobody is. Are they more of a positive force than most people who complain about regulators want to admit? With almost 100% certainty. I've had my differences with the OCC and FDIC on crypto regulations in particular, but I think in their case it's driven by a lack of understanding and the natural paranoia they have for the stability of the US banking system. Thus, even when I disagree, I'm usually not of the belief that their actions are motivated by malice, but rather lack of information and understanding that will be remedied over time as they get up to speed on things. I've also written several times about what an unenviable job most US financial regulators have and how we should appreciate them more. Then there is the SEC. To recap briefly on the history of the SEC, they have somehow managed to sue Ripple and Coinbase, then send Wells Notices to people like Paxos on products that are already regulated by a banking regulator. They've also destroyed LBRY, one of the few functioning crypto projects from the early boom which wasn't defrauding anyone, and they inexplicably shut down Stoner Cats. Do you notice what is not on that list? FTX. Celsius. Terraform Labs. Hex. SafeMoon. BlockFi. The list goes on. Basically, if you were an actual scam or criminal activity, you were 100% safe from the SEC and they were, in fact, going to go out of their way to assist you by attempting to cripple your legitimate competitors instead. There is a very strong argument that if the SEC simply did not exist and had been replaced with literally nothing, far less consumers would have been harmed in crypto. This brings me to today, where we find out the SEC, in response to all of the concerns being raised about terrorism financing, the still-ongoing issues Justin Sun-affiliated projects like TUSD, USDD, and Tron, and the increasing offshoring of all KYC/AML data due to projects leaving the United States, the SEC has decided to attempt to intimidate and investigate... PayPal? You can't make this shit up. PYUSD is transparently a stored value project under the NYDFS stablecoin guidance. Being incredibly blunt here, as someone with deep knowledge of the inner workings, if PYUSD is a security, so are Starbucks gift cards, prepaid debit cards, and airline reward points. This thing fails Howey so spectacularly it would be laughed out of court by a judge. It's also safer for consumers than standard PayPal e-money because it's bankruptcy remote. This is strictly better in all ways. And yet, in a target rich environment, the SEC continues to avoid going after anyone actually doing wrong and instead continue to target legitimate companies helping consumers in a way that is guaranteed to damage American security interests and push the space offshore in a way that makes it more viable for terrorists and criminals to use crypto because we slowly lose the tools to interdict them. Put differently: if Gary Gensler has been bribed by crypto scammers, organized crime, and Hamas, and was trying to help them while not tipping his hand, what would he be doing differently?
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Viktor Szathmáry retweeted
In some ways this whole FTX episode is useful. It shows the complete corruption of the US establishment. They don't really care if your crypto is stolen. They're more interested in stealing your crypto. archive.ph/OBe82
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Viktor Szathmáry retweeted
1/ Very rough and speculative sketch of what I increasingly think happened at FTX as more info comes out… The central question is where did the money go? Yes malfeasance and fraud is necessary, but at one point in the cycle cash actually has to go out the door
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Viktor Szathmáry retweeted
What are all these scribbles on your keyboard? A brief history of punctuation marks:
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Viktor Szathmáry retweeted
The new 100-ruble banknote introduced today by Russia's Central Bank, featuring the Soviet Soldier Memorial, cannot be introduced into circulation as ATMs & cash registers cannot be updated to recognise new notes due to sanctions. 100% of Russia's cash registers are imported. – at Islington, London
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Viktor Szathmáry retweeted
Good night Budapest! Looking amazing from @Space_Station.
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Replying to @leashless
One biologist once said: “we never evolved to live outside the sea, we just carry the sea with us.”. Referencing the fact that blood is very similar in density to sea water. We’re just bags of sea, like spaceships are bags of earth.
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Viktor Szathmáry retweeted
The only two ways to coordinate human societies at scale are free markets and physical power. Any ideology rejecting free markets is just advocating for power. Socialism, communism, and fascism all converge to the same endpoint - rule by the biggest thug.
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Viktor Szathmáry retweeted
By posting GPT generated text we’re polluting the data for its future versions
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Viktor Szathmáry retweeted
Corporate Socialism: The Government is Bailing Out Investors & Managers Not You link.medium.com/2QFx3uiL94
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Viktor Szathmáry retweeted
The world is coming together to combat COVID-19, and you can be part of it. We’ve collected some of the incredible open source projects that are working to track infection rates, analyze pathogen genomes, and work to find a cure. See them all here: github.blog/2020-03-23-open-…
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It is perplexing to see that the article ignores tactics of Japan, where R0 of COVID-19 is clearly lower. The purpose of this thread is to search for reasons why Japan has been successful. 1/ science.sciencemag.org/conte…
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Viktor Szathmáry retweeted
You know how there's all those places where people are? Don't be there.
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Viktor Szathmáry retweeted
Explain to me why we should spent taxpayer money to bailout companies (airlines) who spent their cash buying their own stock so the CEO gets optionality, instead of having a crisis buffer. We should bail out individuals based on needs, not corporations. #Moralhazard
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Viktor Szathmáry retweeted
A China Eastern Airlines' A350 departed for Rome, Italy from Shanghai, bringing 9 Chinese medical experts and 31 tons of medical supplies, including plasma of recovered coronavirus patients, to help Italy fight against the #COVID19 pandemic
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Viktor Szathmáry retweeted
THREAD 1/ Of all the articles I read this week on #COVID19, this @nytimes ⬇️ really caught my eye. It was an interview w/ Dr. Bruce Aylward, the lead on the @WHO team that visited China to examine their response. It surprised me for multiple reasons. nytimes.com/2020/03/04/healt… – at New Haven, CT
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Viktor Szathmáry retweeted
Calibrate intuition from math. Assume *roughly*: 2% fatality rate (JAMA) ~4 weeks from infection to death for fatal cases (WHO) 7 day doubling time (NEJM) Then a report of one death today would mean 50 infected four weeks ago — and 800 cases today.
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Viktor Szathmáry retweeted
We are expanding our volunteers, now over 150, engaged in local and global action to stop the coronavirus outbreak. Everyone can help. Join us by sending an email to [email protected] Our first website is at endcoronavirus.org
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Bouncing around in #StyleGAN2 in real time.
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