• 2 Posts
  • 20 Comments
Joined 1 year ago
cake
Cake day: June 17th, 2023

help-circle




















  • What are your underlying models of the world built out of?

    As a Bayesian, my models of the world are built on priors. That is, assumptions I’ve made based on my existing information. From that, I make an educated guess about the world with that model and see what the world does. If my guess doesn’t match reality, I update my assumptions to rebuild my model and repeat the process until it’s close enough.

    This is the way the best science is done, and I fell it’s the way that humans really work. Language is just a type of model we use to communicate the world to others, each of us may have a slightly different Bayesian understanding of the language yet we can still communicate.


  • Digging deeper, the Federal Reserve says this about it:

    The FedNow Service went live on July 20, 2023. It is available to depository institutions in the United States and enables individuals and businesses to send instant payments through their depository institution accounts. The service is a flexible, neutral platform that supports a broad variety of instant payments. At the most fundamental level, the service provides interbank clearing and settlement that enables funds to be transferred from the account of a sender to the account of a receiver in near real-time and at any time, any day of the year. Depository institutions and their service providers can build on this fundamental capability to offer value-added services to their customers.

    So it’s a system your bank uses to send your money to other people’s accounts at other banks. In my mind it’ll kinda be like bill pay, you’d go to your bank’s website to do it.