[HN Gopher] Calling All Hackers: How money works (2024)
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       Calling All Hackers: How money works (2024)
        
       Author : krrishd
       Score  : 86 points
       Date   : 2026-01-06 20:24 UTC (2 hours ago)
        
 (HTM) web link (phrack.org)
 (TXT) w3m dump (phrack.org)
        
       | mothballed wrote:
       | I legitimately thought the description of a 'shitcoin' was
       | supposed to be a euphemism for IPO shares until it turned out
       | there was a separate section for that.
        
       | dang wrote:
       | Discussed at the time:
       | 
       |  _Calling All Hackers_ -
       | https://news.ycombinator.com/item?id=41306128 - Aug 2024 (253
       | comments)
        
       | globalnode wrote:
       | money bores me to tears
        
       | willparks wrote:
       | > A common lament among founders, even successful ones, is:
       | "Sometimes I feel like I'm wasting my twenties".
       | 
       | Interesting perspective, I feel like I see this much more
       | attributed to someone working on a meaningless problem for a
       | paycheck at a large company. I guess it speaks to the difficulty
       | in finding purpose in any endeavor in your twenties.
       | 
       | Nice conclusion on what to truly value.
        
         | nerdsniper wrote:
         | It's basically a tradeoff between wasting your personal life or
         | wasting your professional life. If you get a job that is truly
         | 9-5 (or maybe even a bit less), it leaves a lot of time for
         | forging friendships and relationships and learning hobbies
         | while you're still young, doing sports, seeing the world.
         | 
         | Founders usually feel they're missing out on all or most of
         | these. And some of them probably feel like they don't really
         | have a choice - maybe their specialty/resume is one that's
         | difficult to get hired but skilled enough to make money on
         | their own.
         | 
         | However, plenty of jobs take all your time and still feel
         | meaningless. Many (most? - median personal income in USA is
         | $42,000) don't pay enough for people to really socialize much
         | anyways or do most of the hobbies they might enjoy or travel at
         | all. Generally, having the choice of "HOW should I 'waste' my
         | twenties?" is a fairly privileged one.
        
       | huijzer wrote:
       | How money works? Well look into fractional reserve banking and do
       | the math. If you're a bank, you can just loan out 10-100 times
       | what you have in assets and ask say 5% interest. Then 5*10 to
       | 5*100 is your annual interest to the bank. That's why the Bible
       | and Quran are against usury.
        
         | jbs789 wrote:
         | This is not correct. For starters, loans are assets.
         | 
         | Banks start with some capital, borrow in the form of deposits,
         | and lend in the form of bonds, mortgages etc.
         | 
         | The regulatory capital ratio determines how much capital they
         | must hold to support the assets.
        
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       (page generated 2026-01-06 23:01 UTC)