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Cake day: July 13th, 2023

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  • This is all well and true, but it’s important to note that these organizations exist as a sidestep to regulation, they are formed by industry insiders as a promise to the regulators that they will be honest about how they rate games (or movies or music) so that the government doesn’t actually get involved and do it’s job.

    It’s a form of regulatory capture that allows the industry itself to decide what is harmful to us.

    It’s basically the definition of conflict of interest.





  • Normal people can’t reasonably spin up a mastodon server either.

    Everyone here seems to vastly overestimate the general public’s technical knowledge and desire for this kind of thing.

    You have technical knowledge hurdles, financial hurdles, ISP hurdles, government hurdles (in some countries), bandwidth hurdles, storage hurdles, and more.

    Running a server even on a raspberry pi takes a decent amount of effort, and when your server is down, because regular people aren’t going to have HA and battery backups and multiple Internet connections, etc, your service goes down.

    Most people, like 99.9999 percent of people don’t Want to deal with any of that, I mean hell, regular people don’t use ad blockers, know what linux is, what a raspberry pi is, what a server is, how any of this works, or care at all. So many people here or so drastically out of touch it’s wild.


  • Money hasn’t been printed, but for the bookkeeping, 3 individuals who have contributed a total of 200 dollars, have in their accounts 380 dollars.

    When a bank loans your money out, as we are well aware, they don’t change the account in your balance. In order to do that, the dollar being loaned must be duplicated somehow. This is normal to how fractional banking works, and guidelines and requirements for how much specific money you need to maintain doesn’t change that.

    The only way to change it is to switch to full reserve banking.

    If a bank is able to loan out your money, without also removing it from your account, it is by nature created, the money is in two places at once.


  • Takumidesh@lemmy.worldtomemes@lemmy.worldA totally normal thing
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    16 days ago

    This is how banks work.

    You deposit 100 and I deposit 100, bank is required to keep 10 percent in cash (for example) that allows for 180 in loanable cash.

    The bank loans out 180 dollars, now you have 100, I have 100 and someone else has 180, that money has been ‘created’ out of thin air.

    The banks count on the fact that that me and you won’t both withdraw all of our money at once.

    When banks finish the day, they actually check and see if they are within all of the margin limits that are required and do overnight loans from other banks to stay legal.

    Look up fractional reserved banking.