241# Red, Green, Candle Strategy. - Forex Strategies

Sympathy for the Drow - De-Vilifying the Dark Elves

The "Evil" races in DnD have always rubbed me kinda the wrong way. Partly once I learned that a lot of them come from racist stereotypes (Orcs, Drow, and Goblins in particular) and also just because it doesn't make sense to me. Even Nazi Germany had variation and dissenters and it only lasted for 12 years. Why would a clearly evil society never change over hundreds of years? In my opinion, a story is only as good as it's villains. So, I've set out to try and make the traditionally evil races slightly more believable and even sympathetic in places.
Now, I've not been a DM very long, only like three years. But the first campaign I ever ran was through Curse of Strahd which paints the Vistani (an itinerant society heavily based on the real world Romani) as a conniving group of thieves, murders, and vampire-worshipers. Thankfully, I found through reddit and other sites how to steer away from the racists depictions of the Vistani and making them seem like, at worst, opportunists. So, I hope to be able to do that with some other of the classic DnD antagonist races.
I've read some other phenomenal post on here about evil races that totally inspired me as well. There's a great two part post about Decolonizing D&D which I adore. The post about alignment is easily my favorite. There's a couple great ones on Orcs and Yuan-Ti too so if some of my ideas are lifted from them, I hope y'all consider it flattery instead of theft. So, here are some primer notes before I get into it.
For creating the Dark Elves, I tried to keep as much as I could from the books. Obviously some stuff has to get thrown out the window though. I also tried to standardize calling them Dark Elves instead of Drow partly because I feel like Drow has a much nastier sound to it and calling them Dark Elves follows the naming convention with the High and Wood Elves. I tried to model them after real-life matriarchal societies like the Mosuo people of China and their pantheon after real deities like the Greeks, Romans, and Norse. I also quickly realized that building a society is inseparable from geography. Where a people are from effects their language, values, mythology, history, and family structure. I've tried to outline details I think are necessary to making this society realistic while leaving it open ended enough to be place-able in different worlds with relative ease. All that aside, lets get into the meat of it.

The Dark Elves: Elven Outcasts

The Elves are a varied and magical people that come from many planes and many environments within them. But none are met with more distrust and fear than the Dark Elves. Easily set apart from their cousins by their charcoal or pitch-black skin, pink-red eyes, hair of grays and whites, and shorter stature, these people have earned a reputation as killers, thieves, demon worshipers, and liars. But history is a cruel mistress, something the Dark Elves know better than most.

The Divine Divide

As the legends go, when the world was still young, Corellon Larethian lived on the Plane of Arvandor with his fellow Primal Elves. They were wild and mutable, emotional and free in all things. They changed shapes at will, gave and took freely to and from the world, and never stayed in any location too long. They wandered to and fro, scattering their peoples across almost every plane. However, this unbridled freedom was not without a price. Arguments, feuds, and small scale wars were incredibly common between them. Some elves would find themselves stranded on far off planes after most of their companions impulsively decided to leave. Their self serving impulses drove them to often completely disregard the needs or wants of others if they went against their own desires. And their reckless revelry was wreaking havoc on the natural world with Elven parties decimating whole planes of edible plants, wild game, and drinkable water.
One such Primal Elf began to see the destruction of their ways and talked to other elves about their actions. Slowly, this Elf by the name of Lolth amassed a small following of devotees that saw the negative ramifications of their inconsiderate freedom. Lolth and her followers agreed to take on fixed forms to show recognition of the dangers that impulsivity could bring. Lolth led this small group of devotees to Corellon to ask for his support. Now, Corellon did not lead these Primal Elves: he was just as wild as the best of them and did not take kindly to others telling him what to do. But he was the First Elf ever born and was universally respected amongst the Primal Elves and if Lolth could convince him, others would surely follow. Corellon listened to her proposition and agreed that they should change to prevent more destruction and conflict, but refused to order his kinsfolk into any action. He was an Elf, same as all of them, and he wouldn’t dare order around his family. He balked when Lolth asked him to take a concrete form as a show of solidarity and brushed her off as a killjoy.
Lolth was unsatisfied with this outcome and her following set out to convince each Elf to change their ways to preserve the beauty of the worlds. However, without the support of Corellon, many elves refused her offer. Her anger grew with each failure and her opinion of Corellon turned sour, something she made no attempt to hide from her Elven siblings. Now, Corellon is a proud god and once he caught wind that Lolth was bad mouthing him in an attempt to win over others, he became enraged. He railed against Lolth calling her a snake-tongued thief and Lolth called him incompetent and cruel. Their tempers flared and all the elves chose sides between Corellon’s freedom and Lolth’s stability. During this great debate, the Primal Elves turned to violence. The Dark Elves maintain that Corellon’s side threw the first blow, while the High Elves claim that it came from Lolth’s side.
No matter the source, this violent outburst soured relations between Lolth and Corellon forever after. He cast her and her followers out of Arvandor and barred her from ever returning. He also cast all but his most trusted kin from Arvandor, forcing them all to live lives on other worlds out of fear of another perceived insurrection. Thus, the Seldarine remain in Arvandor to judge the souls of Corellon’s faithful when they die and Lolth takes refuge in Arcadia with her pantheon where she minds the souls of the Drow. Corellon’s faithful call her pantheon the Dark Seldarine, while her faithful call it the Myrkalfar.

Myrkalfar: The Spider Mother’s House

Lolth the Spider Queen is the unquestioned head of the Myrkalfar, with all other deities seen as her divine family. Lolth is considered at times to be fickle or even cruel, but her ire is never gained without good reason. A very involved deity, her followers constantly search for signs of her favor or scorn in everyday life. When a Dark Elf contemplates a risky or controversial decision, they consult priestesses or perform their own rites which often gives them direct and succinct answers. She serves as an example to matriarchs of Drow families as demanding yet understanding, punishing yet guiding. She asks for a lot of her priestesses, demanding they be an unflinching example of everything a strong leader should be. The Myrkalfar is often presented as a divine household, with Lolth as the matron.
Keptolo is the consort of Lolth and considered to be the ideal of what a male should be. Beautiful and kind, strong and hard working, he helps Lolth in everything she does. Sometimes he serves as a messenger, other times as an agent of redemption, sometimes as a divine healer. When a Dark Elf is tasked with a divine charge, he is usually the one to deliver the message and guide them through their charge. He serves also as a fertility deity and is often worshiped by women or men seeking a child. Outsiders see him as a weak and subservient husband to Lolth, but his faithfulness to his matron is considered a virtue and his status as a “husband” is relatively alien to the Dark Elves as they have no binding marriage in their society.
If Keptolo is the agent of Lolth’s mercy, Kiaransalee is the agent of her vengeance. She is the eldest daughter of Lolth and Keptolo and one that Dark Elves pray to when they feel wronged. Only the most binding and serious contracts are signed under her name. To break an oath made under her name is sure to bring destruction. She is also the governor of the dead, judging the souls of those passed in the afterlife. She opposes the mindless undead created by mortals, but spirits and revenants that return to finish unresolved business amongst the living are considered under her protection. Should a Dark Elf encounter a returned spirit that is seeking vengeance, it’s their duty to leave them on their way and pray that the spirit isn’t there for them. This reverence of certain undead is something many outsiders consider downright evil.
Selvetarm is the Dark Elven warrior goddess and youngest daughter of Lolth. Often depicted with eight arms, she represents the pinnacle of hand to hand martial prowess, but often is without restraint. She serves as both an inspiration for warriors, and a warning. Vhaeraun is the eldest son of Lolth and governs ambition and stealth. Both of these traits are not necessarily vilified, but worship of him is highly scrutinized. Haughty and rash, tales of him often include deceiving his fellow gods for good and ill and more often than not are cautionary ones. He’s depicted as wearing a mask, either as some punishment for endangering Lolth and her family or to hide his identity for various schemes, possibly both.
Malyk is Lolth’s youngest son and a youthful deity of change and growth. He’s often seen as a bouncing young boy that Lolth and her family have to reign in from wild misadventures. His freedom and curiosity is often seen as a double edged sword, both gaining him great riches but also putting him in tremendous peril. He has strong ties to sorcerers and when a child is born with innate magical talent, he is often the one thanked for it. He serves as an outlet for a Dark Elves youthful chaotic nature, but also warns them of the ramifications of their actions.
Ghaunadur is a strange figure in the pantheon. Their place in the family is a bit of a mystery, sometimes called the sibling of Lolth, or her child, or even as Lolth’s parent. What makes them truly unique is that they are a formless deity, something that Lolth once warred with Corellon over. The legends go that when Ghaunadur joined Lolth, they refused to give up their changeable nature. When questioned, Ghaunadur pointed to the slimes, oozes, and formless creatures of the world and said that they wished to protect them from the Elves and the Elves from them. Lolth agreed, cementing their position as the deity of the changing forms of nature. Their favored creature is the ooze, but they govern all natural creatures. Dark Elves often pray to Ghaunadur to protect them from the creatures that lurk in the depths of the forest.
Zinzerena is Lolth’s sister and is the goddess of poisons, illusions, and magic. Viewed as an elderly and patient figure, she often serves as council to Lolth in desperate times. She’s said to be the mother of all poisons and venoms and her teachings are all about finding the wisest solution to a problem. Zinzerena teaches that even though the spider is small, it’s bite can still fell a panther. Despite her perceived age, she’s considered the younger sister of Lolth and is thought to be incredibly quick and nimble: a reminder that not everything is as it seems.
Eilistraee is Lolth’s niece and daughter of Zinzerena. Considered the black sheep of the pantheon, she serves as a goddess of redemption and moonlight. Dark Elves that turn their back on their family or scorn traditions will sometimes find themselves turned to Driders, half-spider half-Dark Elf creatures shunned by all. Eilistraee is said to watch over these creatures and if they are repentant, offer them challenges that they could complete to redeem themselves. Lolth often views her with contempt or mistrust, but never hates her and maintains her place in the pantheon. Dark Elven faithful rarely worship her as the others. She’s also one of the only deities of the Myrkalfar to claim no animosity toward the Seldarine and their faithful.
Spiders are the sacred animal of Lolth and are often used as an example of social order and the importance of family bonds. Each strand of silk serves the web as whole. More literally, the giant spiders of the Underdark are multifaceted and incredibly useful creatures. Serving as beasts of burden, war steeds, meat producers, household guardians, and silk producers, they are present in almost every facet of society. Their silks are used in everything from wound dressings to armor to architecture. To kill or steal another family's spider is considered akin to stealing a member of the family. Smaller and more poisonous spiders are often kept in temples and their webs are used as divining tools for priestesses.

Elven Exiles

The recorded history of the Dark Elves is full of contradictions from High Elf and Dark Elf sources. What historians can agree on is when the Elves of the Prime Material arrived, the followers of Lolth secluded from their Wood and High cousins and retreated into the Azelarien, also known as the Green Sea in Common. A massive forest, nearly 1 million square miles of dense and vibrant trees, that grows denser and darker the farther in one ventures. For countless eons, the High, Wood, and Dark Elves lived in relative harmony in their own corner of the world. High Elves lived near the forests in towns and villages, the Wood Elves lived in the lightly forested outlands of the Green Sea, and the Dark Elves lived deep in the central forests which was so dense that very little light reached the forest floor.
As time passed and their villages turned to cities, the High Elves began expanding into the forest, chopping some down to build homes and heat their furnaces. This began pushing into the territory of the Wood Elves and eventually the Dark Elves as well. These two peoples formed a shaky alliance to push back the expansive tide of the far larger High Elven armies. This alliance proved successful however and the High Elven forces began losing ground. What happened next is a matter of some debate. High Elven historians attest that the Dark Elven armies used Wood Elven soldiers as unwitting bait to lure the High Elven armies into a trap, thus causing a schism between them. Dark Elven historians state that the Wood Elven armies turned on them after the Wood Elves met in secret with High Elven leaders and bargained for their independence. Some Wood Elven historians claim that after a brutal defeat on the field, they were met by High Elven dignitaries that offered them clemency if they turned on their allies. They initially refused, but after the dignitaries threatened to make the same offer to the Dark Elves, they had no choice but to accept. No matter the cause, the histories agree that the Wood Elves turned on their erstwhile allies and helped push the Dark Elves into a rapid loss of ground.
Facing the might of the two armies with their own relatively small one, the Dark Elves were beaten into a hasty retreat into their own territory. Losing every open encounter, the Dark Elf matrons developed a new strategy of combat. The armies switched from training as many as quickly as they could, to training only a select few in multiple different forms of combat and magic. As the High and Wood Elves advanced into their territory, they quickly found their supply lines cut out from under them, their soldiers ambushed while sleeping, their scouts captured, and their leaders assassinated. And even if they would make it to a Dark Elf settlement, they would find it abandoned and booby-trapped, warned by their fast and silent scouts. If the Dark Elves couldn’t face their enemies head-on, they would weaken them with quick and decisive strikes.
Eventually, the war ground to a stalemate. The High Elves couldn’t push into the Dark Elf territory far enough to capture any cities of note without taking severe casualties and the Dark Elves were only managing to hold the invading armies back and couldn’t muster a force strong enough to push back to the enemy capital. Thus, the war cooled into a tense peace. The leaders came together to draw borders, but neither side fully forgave nor forgot one another’s actions. High and Wood Elves viewed the change in tactics by the Dark Elves as an unethical violation of the standards of war. The Dark Elves felt a particular animosity toward the Wood Elves, considering them backstabbers in their darkest hour.

Dark Elf Families: Matrons of Order

The Dark Elf society, to an outsider, looks like an oppressive and cruel society of slave traders and backstabbers. But the truth is more subtle. The Dark Elves value tradition and filial piety above almost all else. To a Dark Elven citizen, their family name is their most valuable possession and they are taught from a very young age that to look after their parents and their younger siblings is the highest virtue. Ancestors that have achieved great things often have shrines in a household alongside the gods themselves. A Dark Elf going against the will of their family is considered one of the highest taboos and often causes them to be outcast from Dark Elven society as a whole. Dark Elf society is matrilineal meaning that the eldest woman in each family is revered as the household leader and receives great respect from her family and society. This also means that the males of the society don’t inherit wealth as frequently as the females.
Dark Elven families are quite large, often with multiple generations along with aunts, uncles, and cousins living in the same household. New children almost always reside with their mother. Males of the society are expected to care not for their own biological children, but for the children born to their sisters, aunts, or nieces. This results in a striking amount of sexual freedom for both men and women, but is often viewed from the outside as promiscuity. The Dark Elves do not marry in the traditional sense, instead favoring long term partners with one another that can end at any time with no concerns to material wealth or ownership.
However, to become a member of a Dark Elf family is not entirely a matter of heritage. When a family that cannot support another child has one, they are often adopted by more well to do families and raised as one of their own. These adopted children are considered just as legitimate as if they were born into the family. Also, should a family lose all their heirs or become destitute, they often ask to become assimilated into other families for their own safety. The latter is considered a morose ceremony as the members of the smaller family forsake their surnames. To take in such a family is both an extreme honor and grim burden, as it means ending another family's line.
The borders of Dark Elven civilization only goes so far as there are trees so many newer up and coming families have expanded underground, a difficult and slow endeavor. This has put multiple houses at odds with one another for territory. However, Dark Elves do not tolerate open hostility between families as they have a very strong sense of collective identity. Dark Elves do not war against fellow Dark Elves, same as a spider does not fight its own web. This leads to many tensions and conflicts needing to be resolved in other ways. Most families will attempt a diplomatic solution, but when that isn’t an option, sabotage and coercion is the favored outlet. Murder is considered a bridge too far by most houses, but subterfuge in almost every other facet is, while not accepted, tolerated.
Legends of Lolth’s rebellion and the tension of their enclosed territory have imbued the Dark Elves with a strong sense of symbiosis with nature and conservancy. Sustainable living is the cornerstone of Dark Elf society. In the wild, no creature is killed or plant destroyed unless it’s a matter of self defense or necessary to survival.

Dark Elven Sex and Gender

As with many Elven peoples, sexuality is seen as a fluid and non-binary matter. Same sex relationships are usually seen as just as acceptable as male-female relationships. Since Dark Elves have no marriage structure, same sex life partners are common and widely accepted. Inheritance is passed along by the family as a whole, not linearly, meaning some houses may have matrons with no direct biological descendants while still serving at the elder matron. Power dynamics in relationships are still a factor, with the elder female in a gay relationship considered slightly above their partner socially and is seen as the inheritor in cases of property or genealogy. Male same sex relationships are accepted with little controversy. Since children are passed down their mothers line, the males have no social obligation to sire an heir as with other societies.
Transgender and transexual Dark Elves are met with slightly more controversy. Lolth’s rejection of the Primal Elves mutable forms is sometimes cited against transgender and transexual Dark Elves. Ghaunadur, however, is considered the patron god of these people and teaches that just as they are part of nature, they can change their forms. Many of these people join the religious order of Ghaunadur, serving in various roles both in religious ceremonies and as forest guides. Some even consider them to be blessed by Ghaunadur and are highly sought after in forays into the forests for protection. Children born to transgender Dark Elves are still expected to be a part of their eldest mother’s family or eldest father if no woman is part of the union.

Slavery Amongst the Dark Elves

While the Dark Elves do take slaves, their slavery doesn’t look the same as many other societies. When a family becomes indebted to another and they cannot pay off the debt, a member of their family, usually male, will be sent to work for the owed family. They give him room and board and are expected to care for him as if he were one of their own. He’ll work for them for an agreed upon amount of time before returning to his native family. Injury or misuse of this person is often grounds for them to leave and the debt to be nullified. Children born to servant fathers needn’t worry about inheriting their father’s status since they’re considered to be their mother’s child. On the rare occasion that a female servant has a child while in servitude, the child is returned to the mother’s family to be raised by her family while she works off the remaining debt. Some trade of servants does occur between houses, with indentured servants being traded for goods or services or even other servants of special skills, but the family of the servant reserves the right to veto such a trade for any reason.
During their frequent clashes with external armies, the Dark Elves do sometimes take prisoners of war, though very rarely are they used for slave labor. They never bring them back to major settlements, often keeping them on the outskirts of their territory to prevent them from learning critical knowledge of their territory. Most prisoners are held as bargaining chips to be traded for passage, supplies, or captured Dark Elves. Captured military leaders are sometimes brought to Dark Elven cities to be tried for their crimes against their people.

Dark Elven Government: Independent Houses

Unlike many other cultures, the Dark Elves lack a centralized government. Societal etiquette govern the standard for how certain crimes and disagreements should be handled, but each family unit acts as its own governing body. Disagreements within families are thus resolved internally. Inter-family disputes are resolved in multiple different ways. Most often, the two matrons of the family will meet and agree on terms to fairly compensate both sides. In cases when these talks deteriorate, the High Priestess of Lolth is often called to serve as the mediator and serves as the ruling body between disputes. Her rulings are final and indisputable, as she is considered the mouthpiece of Lolth’s will.
In times of crisis, historically the many houses of the Dark Elves have convened to discuss threats to all of Dark Elven society. This is uncommon as it’s difficult logistically to gather all the matrons in the same place at the same time, so often houses are represented by either the second eldest woman of the family or the eldest daughter of the matron. The High Priestess of Lolth often resides over these meetings as an arbiter in the event of split decisions or in delivering guidance from Lolth herself.

There's my take on the Dark Elves. Any comments, suggestions, questions, outrages, and critiques are welcomed. This is my first comprehensive look at a whole race so if I've missed things, I'll try and patch them up. I'd like to do similar things for Orcs, Goblinoids, Kobolds, and others so those might be seen soon. Thanks!
submitted by Lerad to DnDBehindTheScreen [link] [comments]

Everything You Always Wanted To Know About Swaps* (*But Were Afraid To Ask)

Hello, dummies
It's your old pal, Fuzzy.
As I'm sure you've all noticed, a lot of the stuff that gets posted here is - to put it delicately - fucking ridiculous. More backwards-ass shit gets posted to wallstreetbets than you'd see on a Westboro Baptist community message board. I mean, I had a look at the daily thread yesterday and..... yeesh. I know, I know. We all make like the divine Laura Dern circa 1992 on the daily and stick our hands deep into this steaming heap of shit to find the nuggets of valuable and/or hilarious information within (thanks for reading, BTW). I agree. I love it just the way it is too. That's what makes WSB great.
What I'm getting at is that a lot of the stuff that gets posted here - notwithstanding it being funny or interesting - is just... wrong. Like, fucking your cousin wrong. And to be clear, I mean the fucking your *first* cousin kinda wrong, before my Southerners in the back get all het up (simmer down, Billy Ray - I know Mabel's twice removed on your grand-sister's side). Truly, I try to let it slide. I do my bit to try and put you on the right path. Most of the time, I sleep easy no matter how badly I've seen someone explain what a bank liquidity crisis is. But out of all of those tens of thousands of misguided, autistic attempts at understanding the world of high finance, one thing gets so consistently - so *emphatically* - fucked up and misunderstood by you retards that last night I felt obligated at the end of a long work day to pull together this edition of Finance with Fuzzy just for you. It's so serious I'm not even going to make a u/pokimane gag. Have you guessed what it is yet? Here's a clue. It's in the title of the post.
That's right, friends. Today in the neighborhood we're going to talk all about hedging in financial markets - spots, swaps, collars, forwards, CDS, synthetic CDOs, all that fun shit. Don't worry; I'm going to explain what all the scary words mean and how they impact your OTM RH positions along the way.
We're going to break it down like this. (1) "What's a hedge, Fuzzy?" (2) Common Hedging Strategies and (3) All About ISDAs and Credit Default Swaps.
Before we begin. For the nerds and JV traders in the back (and anyone else who needs to hear this up front) - I am simplifying these descriptions for the purposes of this post. I am also obviously not going to try and cover every exotic form of hedge under the sun or give a detailed summation of what caused the financial crisis. If you are interested in something specific ask a question, but don't try and impress me with your Investopedia skills or technical points I didn't cover; I will just be forced to flex my years of IRL experience on you in the comments and you'll look like a big dummy.
TL;DR? Fuck you. There is no TL;DR. You've come this far already. What's a few more paragraphs? Put down the Cheetos and try to concentrate for the next 5-7 minutes. You'll learn something, and I promise I'll be gentle.
Ready? Let's get started.
1. The Tao of Risk: Hedging as a Way of Life
The simplest way to characterize what a hedge 'is' is to imagine every action having a binary outcome. One is bad, one is good. Red lines, green lines; uppie, downie. With me so far? Good. A 'hedge' is simply the employment of a strategy to mitigate the effect of your action having the wrong binary outcome. You wanted X, but you got Z! Frowny face. A hedge strategy introduces a third outcome. If you hedged against the possibility of Z happening, then you can wind up with Y instead. Not as good as X, but not as bad as Z. The technical definition I like to give my idiot juniors is as follows:
Utilization of a defensive strategy to mitigate risk, at a fraction of the cost to capital of the risk itself.
Congratulations. You just finished Hedging 101. "But Fuzzy, that's easy! I just sold a naked call against my 95% OTM put! I'm adequately hedged!". Spoiler alert: you're not (although good work on executing a collar, which I describe below). What I'm talking about here is what would be referred to as a 'perfect hedge'; a binary outcome where downside is totally mitigated by a risk management strategy. That's not how it works IRL. Pay attention; this is the tricky part.
You can't take a single position and conclude that you're adequately hedged because risks are fluid, not static. So you need to constantly adjust your position in order to maximize the value of the hedge and insure your position. You also need to consider exposure to more than one category of risk. There are micro (specific exposure) risks, and macro (trend exposure) risks, and both need to factor into the hedge calculus.
That's why, in the real world, the value of hedging depends entirely on the design of the hedging strategy itself. Here, when we say "value" of the hedge, we're not talking about cash money - we're talking about the intrinsic value of the hedge relative to the the risk profile of your underlying exposure. To achieve this, people hedge dynamically. In wallstreetbets terms, this means that as the value of your position changes, you need to change your hedges too. The idea is to efficiently and continuously distribute and rebalance risk across different states and periods, taking value from states in which the marginal cost of the hedge is low and putting it back into states where marginal cost of the hedge is high, until the shadow value of your underlying exposure is equalized across your positions. The punchline, I guess, is that one static position is a hedge in the same way that the finger paintings you make for your wife's boyfriend are art - it's technically correct, but you're only playing yourself by believing it.
Anyway. Obviously doing this as a small potatoes trader is hard but it's worth taking into account. Enough basic shit. So how does this work in markets?
2. A Hedging Taxonomy
The best place to start here is a practical question. What does a business need to hedge against? Think about the specific risk that an individual business faces. These are legion, so I'm just going to list a few of the key ones that apply to most corporates. (1) You have commodity risk for the shit you buy or the shit you use. (2) You have currency risk for the money you borrow. (3) You have rate risk on the debt you carry. (4) You have offtake risk for the shit you sell. Complicated, right? To help address the many and varied ways that shit can go wrong in a sophisticated market, smart operators like yours truly have devised a whole bundle of different instruments which can help you manage the risk. I might write about some of the more complicated ones in a later post if people are interested (CDO/CLOs, strip/stack hedges and bond swaps with option toggles come to mind) but let's stick to the basics for now.
(i) Swaps
A swap is one of the most common forms of hedge instrument, and they're used by pretty much everyone that can afford them. The language is complicated but the concept isn't, so pay attention and you'll be fine. This is the most important part of this section so it'll be the longest one.
Swaps are derivative contracts with two counterparties (before you ask, you can't trade 'em on an exchange - they're OTC instruments only). They're used to exchange one cash flow for another cash flow of equal expected value; doing this allows you to take speculative positions on certain financial prices or to alter the cash flows of existing assets or liabilities within a business. "Wait, Fuzz; slow down! What do you mean sets of cash flows?". Fear not, little autist. Ol' Fuzz has you covered.
The cash flows I'm talking about are referred to in swap-land as 'legs'. One leg is fixed - a set payment that's the same every time it gets paid - and the other is variable - it fluctuates (typically indexed off the price of the underlying risk that you are speculating on / protecting against). You set it up at the start so that they're notionally equal and the two legs net off; so at open, the swap is a zero NPV instrument. Here's where the fun starts. If the price that you based the variable leg of the swap on changes, the value of the swap will shift; the party on the wrong side of the move ponies up via the variable payment. It's a zero sum game.
I'll give you an example using the most vanilla swap around; an interest rate trade. Here's how it works. You borrow money from a bank, and they charge you a rate of interest. You lock the rate up front, because you're smart like that. But then - quelle surprise! - the rate gets better after you borrow. Now you're bagholding to the tune of, I don't know, 5 bps. Doesn't sound like much but on a billion dollar loan that's a lot of money (a classic example of the kind of 'small, deep hole' that's terrible for profits). Now, if you had a swap contract on the rate before you entered the trade, you're set; if the rate goes down, you get a payment under the swap. If it goes up, whatever payment you're making to the bank is netted off by the fact that you're borrowing at a sub-market rate. Win-win! Or, at least, Lose Less / Lose Less. That's the name of the game in hedging.
There are many different kinds of swaps, some of which are pretty exotic; but they're all different variations on the same theme. If your business has exposure to something which fluctuates in price, you trade swaps to hedge against the fluctuation. The valuation of swaps is also super interesting but I guarantee you that 99% of you won't understand it so I'm not going to try and explain it here although I encourage you to google it if you're interested.
Because they're OTC, none of them are filed publicly. Someeeeeetimes you see an ISDA (dsicussed below) but the confirms themselves (the individual swaps) are not filed. You can usually read about the hedging strategy in a 10-K, though. For what it's worth, most modern credit agreements ban speculative hedging. Top tip: This is occasionally something worth checking in credit agreements when you invest in businesses that are debt issuers - being able to do this increases the risk profile significantly and is particularly important in times of economic volatility (ctrl+f "non-speculative" in the credit agreement to be sure).
(ii) Forwards
A forward is a contract made today for the future delivery of an asset at a pre-agreed price. That's it. "But Fuzzy! That sounds just like a futures contract!". I know. Confusing, right? Just like a futures trade, forwards are generally used in commodity or forex land to protect against price fluctuations. The differences between forwards and futures are small but significant. I'm not going to go into super boring detail because I don't think many of you are commodities traders but it is still an important thing to understand even if you're just an RH jockey, so stick with me.
Just like swaps, forwards are OTC contracts - they're not publicly traded. This is distinct from futures, which are traded on exchanges (see The Ballad Of Big Dick Vick for some more color on this). In a forward, no money changes hands until the maturity date of the contract when delivery and receipt are carried out; price and quantity are locked in from day 1. As you now know having read about BDV, futures are marked to market daily, and normally people close them out with synthetic settlement using an inverse position. They're also liquid, and that makes them easier to unwind or close out in case shit goes sideways.
People use forwards when they absolutely have to get rid of the thing they made (or take delivery of the thing they need). If you're a miner, or a farmer, you use this shit to make sure that at the end of the production cycle, you can get rid of the shit you made (and you won't get fucked by someone taking cash settlement over delivery). If you're a buyer, you use them to guarantee that you'll get whatever the shit is that you'll need at a price agreed in advance. Because they're OTC, you can also exactly tailor them to the requirements of your particular circumstances.
These contracts are incredibly byzantine (and there are even crazier synthetic forwards you can see in money markets for the true degenerate fund managers). In my experience, only Texan oilfield magnates, commodities traders, and the weirdo forex crowd fuck with them. I (i) do not own a 10 gallon hat or a novelty size belt buckle (ii) do not wake up in the middle of the night freaking out about the price of pork fat and (iii) love greenbacks too much to care about other countries' monopoly money, so I don't fuck with them.
(iii) Collars
No, not the kind your wife is encouraging you to wear try out to 'spice things up' in the bedroom during quarantine. Collars are actually the hedging strategy most applicable to WSB. Collars deal with options! Hooray!
To execute a basic collar (also called a wrapper by tea-drinking Brits and people from the Antipodes), you buy an out of the money put while simultaneously writing a covered call on the same equity. The put protects your position against price drops and writing the call produces income that offsets the put premium. Doing this limits your tendies (you can only profit up to the strike price of the call) but also writes down your risk. If you screen large volume trades with a VOL/OI of more than 3 or 4x (and they're not bullshit biotech stocks), you can sometimes see these being constructed in real time as hedge funds protect themselves on their shorts.
(3) All About ISDAs, CDS and Synthetic CDOs
You may have heard about the mythical ISDA. Much like an indenture (discussed in my post on $F), it's a magic legal machine that lets you build swaps via trade confirms with a willing counterparty. They are very complicated legal documents and you need to be a true expert to fuck with them. Fortunately, I am, so I do. They're made of two parts; a Master (which is a form agreement that's always the same) and a Schedule (which amends the Master to include your specific terms). They are also the engine behind just about every major credit crunch of the last 10+ years.
First - a brief explainer. An ISDA is a not in and of itself a hedge - it's an umbrella contract that governs the terms of your swaps, which you use to construct your hedge position. You can trade commodities, forex, rates, whatever, all under the same ISDA.
Let me explain. Remember when we talked about swaps? Right. So. You can trade swaps on just about anything. In the late 90s and early 2000s, people had the smart idea of using other people's debt and or credit ratings as the variable leg of swap documentation. These are called credit default swaps. I was actually starting out at a bank during this time and, I gotta tell you, the only thing I can compare people's enthusiasm for this shit to was that moment in your early teens when you discover jerking off. Except, unlike your bathroom bound shame sessions to Mom's Sears catalogue, every single person you know felt that way too; and they're all doing it at once. It was a fiscal circlejerk of epic proportions, and the financial crisis was the inevitable bukkake finish. WSB autism is absolutely no comparison for the enthusiasm people had during this time for lighting each other's money on fire.
Here's how it works. You pick a company. Any company. Maybe even your own! And then you write a swap. In the swap, you define "Credit Event" with respect to that company's debt as the variable leg . And you write in... whatever you want. A ratings downgrade, default under the docs, failure to meet a leverage ratio or FCCR for a certain testing period... whatever. Now, this started out as a hedge position, just like we discussed above. The purest of intentions, of course. But then people realized - if bad shit happens, you make money. And banks... don't like calling in loans or forcing bankruptcies. Can you smell what the moral hazard is cooking?
Enter synthetic CDOs. CDOs are basically pools of asset backed securities that invest in debt (loans or bonds). They've been around for a minute but they got famous in the 2000s because a shitload of them containing subprime mortgage debt went belly up in 2008. This got a lot of publicity because a lot of sad looking rednecks got foreclosed on and were interviewed on CNBC. "OH!", the people cried. "Look at those big bad bankers buying up subprime loans! They caused this!". Wrong answer, America. The debt wasn't the problem. What a lot of people don't realize is that the real meat of the problem was not in regular way CDOs investing in bundles of shit mortgage debts in synthetic CDOs investing in CDS predicated on that debt. They're synthetic because they don't have a stake in the actual underlying debt; just the instruments riding on the coattails. The reason these are so popular (and remain so) is that smart structured attorneys and bankers like your faithful correspondent realized that an even more profitable and efficient way of building high yield products with limited downside was investing in instruments that profit from failure of debt and in instruments that rely on that debt and then hedging that exposure with other CDS instruments in paired trades, and on and on up the chain. The problem with doing this was that everyone wound up exposed to everybody else's books as a result, and when one went tits up, everybody did. Hence, recession, Basel III, etc. Thanks, Obama.
Heavy investment in CDS can also have a warping effect on the price of debt (something else that happened during the pre-financial crisis years and is starting to happen again now). This happens in three different ways. (1) Investors who previously were long on the debt hedge their position by selling CDS protection on the underlying, putting downward pressure on the debt price. (2) Investors who previously shorted the debt switch to buying CDS protection because the relatively illiquid debt (partic. when its a bond) trades at a discount below par compared to the CDS. The resulting reduction in short selling puts upward pressure on the bond price. (3) The delta in price and actual value of the debt tempts some investors to become NBTs (neg basis traders) who long the debt and purchase CDS protection. If traders can't take leverage, nothing happens to the price of the debt. If basis traders can take leverage (which is nearly always the case because they're holding a hedged position), they can push up or depress the debt price, goosing swap premiums etc. Anyway. Enough technical details.
I could keep going. This is a fascinating topic that is very poorly understood and explained, mainly because the people that caused it all still work on the street and use the same tactics today (it's also terribly taught at business schools because none of the teachers were actually around to see how this played out live). But it relates to the topic of today's lesson, so I thought I'd include it here.
Work depending, I'll be back next week with a covenant breakdown. Most upvoted ticker gets the post.
*EDIT 1\* In a total blowout, $PLAY won. So it's D&B time next week. Post will drop Monday at market open.
submitted by fuzzyblankeet to wallstreetbets [link] [comments]

Psylisa's Guide to Freely - 6/26/20

Welcome all, to another edition of Psylisa's Guides! You didn't think I was going to forget the guide, did you? Things have been quite crazy both in the larger world and my world lately, so I'm a bit behind on everything. I hope everyone reading is staying safe. On to the champion!   Freely is a Gold Find and Support Champion. He increases your divine favor directly with his Adventurous Tale ability. When you want to add Freely to your formation, you can swap him with Minsc (Slot 7).  

CNE Blog Highlight

 

Statistics

----- Core Stats -----
Race: Halfling Class: Bard/Warlock Alignment: Neutral Good
Age: 42 Affiliation: None
STR: 13 DEX: 17 CON: 10
INT: 8 WIS: 10 CHA: 16
  Role: Support/Gold Eligible for Patrons: Mirt    

Buffs/Debuffs

Requisition - Fruit Stagger - Shield Follow-Through - Border Opportunity - Cornucopia
 

Abilities

Eldritch Blast: A beam of aquamarine crackling energy streaks towards a random enemy.   Luck of Yondalla: Freely, and any allies granted this ability through his specializations, have the Luck of Yondalla backing them up. Whenever they attack, one of the following Lucky Breaks occurs completely at random, affecting all enemies hit by the attack. Each Lucky Break can be applied on each enemy once for each Champion with Luck of Yondalla. Each application lasts for 15 seconds, so even if 10 Champions are attacking a single enemy with Luck of Yondalla, the actual Lucky Break applications on the enemy will vary over time.  
 
  Unlucky For Them: The total effect of Luck of Yondalla: Opportunity is increased by 100% on enemies affected by it. This buff applies once to the total value of the applications.
  An Adventurous Tale: If Freely is in your formation when you complete an area for the first time, he keeps track of it for future tales. When you reset your adventure, you'll collect an additional .01% of Divine Favor for each area Freely tracked, stacking additively but applying multiplicatively. Freely does not have to be in your formation when you reset to gain the additional Divine Favor, but he does need to be in your formation when you complete an area to increase his bonus. The bonus resets when you complete your adventure. This ability is buffed by feats and equipment.
  Cutting Words: Freely distracts enemies if he is within 3 slots of a Tank Champion who is under attack by at least 1 enemy, increasing the overwhelm point of such Champions by 5. This ability is not buffed.
 

Specializations

Trust in Law: Grants Luck of Yondalla to all Lawful Champions in your formation. Affected Champions now cause Lucky Breaks whenever they attack.   Value Neutrality: Grants Luck of Yondalla to Neutral Champions (on the Lawful/Neutral/Chaotic scale) in your formation. Affected Champions now cause Lucky Breaks whenever they attack.   Always Expect Chaos: Grants Luck of Yondalla to Chaotic Champions in your formation. Affected Champions now cause Lucky Breaks whenever they attack.
 

Ultimate Attack

I Will Not Deafen: Freely grabs his sword and launches himself toward an enemy, showering green and red lightning in his wake until he smashes into his opponent for massive damage. It also applies all four Lucky Breaks on that enemy or any they didn't already have.
 

Achievement:

Everyone Got Lucky Complete 500 Areas in a Full Formation Empowered by Luck of Yolondalla.
 

Equipment

Slot 1: Global DPS Slot 2: Luck of Yondalla: Requisition Slot 3: Unlucky For Them Slot 4: An Adventurous Tale Slot 5: Ultimate Damage Slot 6: Ultimate Cooldown  

Who should I focus on?

My advice: 1) Freely 2) Deekin 3) Walnut
 

My Thoughts

Freely's Gold ability is a bit odd in that it increases direct favor by a % as well as providing a gold boost through Luck of Yondalla: Requisition.   In 500 areas cleared (without geafeats), you can expect a ~10% increase in Divine Favor gained. Not too shabby, and you don't even have to use him in your final levels! I can see players getting a 2x bonus to favor with decent gear.   For Azaka formations, he should absolutely be utilized over Catti-Brie. Assuming you are using Drizzt, Catti will provide a 2x boost to your Gold Find, which is a low bar to beat. Speaking of Azaka, if you are using Freely solely for Gold Find/Favor, then you'll most likely want to pick his Lawful specialization. Azaka, Drizzt, Krull, and Nrakk are all lawful, as is Spurt with Freely always getting his own buff - bringing the count to 6 attackers buffed. Don't forget his Fortuitous Feat to increase the base value of Requisition by 40%! The question for you Azaka fans out there will be whether you sub out Regis and Wulfgar in exchange for Lawful champions that can apply another stack of Requisition. I think if you're over 200% Requisition, you absolutely should. And that doesn't really require much gear to achieve.   In terms of Support, Freely will not disappoint. Even gearless, he'll slide in with an e9-e10 buff ability, depending on how many stacks of Opportunity you manage to get. His key will be applying at least one stack of Opportunity to activate Unlucky For Them as well as the gear increase for it. Keep in mind, that with no stacks of Opportunity, you lose out on both the gear increase and the skill damage increase, so it's extremely important to keep this debuff up. It should also be noted that Yondalla will activate per target hit, so attacks that cleave/pierce become very valuable. As a debuff, it also double-dips with certain abilities (such as Stoki's Ki Explosion). Briv/Zorbu combination (they are both Chaotic; Zorbu pierces, Briv cleaves) along with Morgaen (attacks twice) and Avren (attacks three times) ended up pushing my levels quite a bit. Unlocking Freely's DPS potential will be reliant on using a champion that can double-dip on the debuffs (such as Stoki). Stoki is simply the easiest fit here. If you are lacking her or other champions that can double-dip, Freely's DPS potential definitely drops. Depending on your gear, you might consider other options.
 

Verdict

Support: 8/10 (10/10 if using double-dip mechanics) Gold: 10/10
 

TL;DR

 

Open Bugs

submitted by Psylisa to idlechampions [link] [comments]

B1048 - Gender Recognition (Reform) Bill | 2nd Reading

Order, order!

Gender Recognition (Reform) Bill

A
Bill
To
Reform the grounds and procedure in order to obtain gender recognition; and for connected purposes
BE IT ENACTED by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:-
1 - Definitions:
The “2004 Act” refers to the Gender Recognition Act 2004.
The “2015 Acts” refers to the Gender Equality Act 2015 and the Gender Equality Enhancement Act 2015
2 - Amendments to the 2004 Act
(1)The following provisions of the 2004 Act are repealed—
(5) Where gender markings are required to denote gender identity in all official documentation including but not limited to Passports, Driving Licenses and correspondence from Government Departments, a non binary person shall be afforded the option to denote their legal gender identity an ‘x’, or as ‘non-binary’
and consequently the definitions of “Gender Dysphoria” and “approved country or territory” under Section 25 are repealed
(2) The following sections in the 2004 Act are amended—
and subsequently add “identity” after “acquired gender” in Section 10 (5) and Section 25
(2) “Protected Information” means information that relates to a person:
(a) who has made an application for a gender recognition certificate and which concerns that application or any other application by that person under this Act.
(b) whose gender identity, or lack thereof, has become the acquired gender identity and concerns the gender identity before it became the acquired gender identity.
(3) Insert a new section into the 2004 Act, reading:
2A - Applications to the Registrar General
Schedule 3A (Applications to the Registrar General) has effect .
And Schedule 3A shall be implemented as per the schedule of this Act.
3 - Amendments to the 2015 Acts
Section 2 in the Gender Equality Act 2015 is repealed in its entirety, and consequently Section 2 of the Gender Equality Enhancement Act 2015 is repealed.
4 - Amendments to the Equality Act 2010
In Section 27 of Schedule 3, replace—
And insert subsection (9) reading, “A person using a service should be under no obligation to disclose their gender identity or be excluded from using a service based on their perceived gender identity, or lack thereof”
And insert subsection (a) after (9) reading, “any exclusion based on perceived gender identity, or lack thereof, or based on a person’s gender which has ceased to be the same as their acquired gender, shall be treated as discrimination based on gender identity.”
And rename the cross heading “Single Sex Spaces” to “Same Gender Identity Spaces”
5 - Extent, Commencement and Short Title
(1)This Section and Section 4 extends to England and Wales, and Scotland
(2) Section 1, Section 2, Section 3 and consequently the Schedule of this Act extends to England and Wales only.
(3)This Act comes into force 6 months after Royal Assent.
(4) This Act may be cited as the Gender Recognition (Reform) Act 2020.
#Schedule
Insert in the 2004 Act:
Schedule 3A - Applications to the Registrar General
1 - Interpretations
In this section, “Registrar General” shall refer to the Registrar General for England & Wales.
2 - Persons who may apply to the Registrar General for Gender Recognition
(1)A person making an application under Section 1 (1) of this Act may do so if they meet the condition that:
(a) is a subject of a UK birth registry entry or;
(b) is not the subject of such an entry, but is an ordinary resident in England or Wales.
3 - Notice to be given by Registrar General upon receipt of application
(1)On receipt of an application under Section 1 (1) of this Act, the Registrar General must notify the applicant in writing, including electronic form: —
(a) that the application has been received
(b) the date by which a Gender Recognition Certificate will be provided.
(c)that the applicant has the right to revoke the Gender Recognition Certificate during the intermission period and is not limited to applying for a Gender Recognition Certificate again after this period.
(d)reiterate that there is no cost for applying for a Gender Recognition Certificate in this instance or in future instances of application.
4 - Ground for which application is granted
(1)The Registrar General must grant application under section 1 (1) of this Act if—
(a) the application includes a statutory declaration by the applicant that the applicant meets the criteria of:
(i) Section 1 of this Act
(ii) Section 2 of this Schedule
(2) A statutory declaration shall be the only requirement by the Registrar General to process an application for a Gender Recognition Certificate
(a) An applicant may declare they intend to live in their acquired gender permanently but the absence of this must have no bearing on the processing of a Gender Recognition Certificate.
(b) there shall be no charge for requesting a Gender Recognition Certificate at any instance of any application by an applicant.
(3)An application for a Gender Recognition Certificate is considered revoked if the applicant sends written notice stating their wish for the application to not continue before the day that a Gender Recognition Certificate is issued
5 - Certificate to be issued by the Registrar General
(1)The Registrar General must issue a Full Gender Recognition Certificate to an applicant by the date given under Section 3 (1) of this Schedule.
(2) If there is a delay in the issuing of the Gender Recognition Certificate, the Registrar General must inform the applicant, in writing, the reasons for such a delay.
(3) If there is an error in print, an applicant may, in writing, inform the Registrar General.
(a) The Registrar General must inform the applicant when the error will be fixed by, and issue a replacement Gender Recognition Certificate.
6 - Gender Recognition obtained outside of England & Wales
(1)When a person has obtained a Gender Recognition Certificate in Scotland or Northern Ireland, —
(a) the person has, for all purposes, received a Gender Recognition Certificate as issued by the Registrar General.
(b) the person’s gender identity, or lack thereof, is the acquired gender identity
(2) When a person has obtained overseas gender recognition —
(a) the person has, for all purposes, received a Gender Recognition Certificate as issued by the Registrar General.
(b) the person’s gender identity, or lack thereof, is the acquired gender identity
(3) in this Act, an “overseas gender recognition” means gender recognition recognised in a country or territory outside of the United Kingdom, which resulted in a person’s gender identity, or lack thereof, becoming the acquired gender identity.
**This bill is written by The Rt Hon. Sir CountBrandenburg GCMG KCB CT CVO CBE PC MP MLA on behalf of the Liberal Democrats and co-sponsored by The Labour Party, The People’s Movement, Democratic Reformist Front and The Conservative and Unionist Party and inspired by the draft Gender Recognition Reform (Scotland) Bill*
Acts referenced:
The Gender Recognition Act 2004
The Gender Equality Act 2015
The Gender Equality Enhancement Act 2015
The Gender Recognition (Amendment) Act 2018
Section 27 of Schedule 3 of the Equality Act 2010
The Equality (Amendment) Act 2020
Opening Speech:
Mr Deputy Speaker,
Section 2 (1) removes references to the Gender Recognition Panel, and obsolete references to marriage, as well as fees and the implied effects to benefits. Also omitted are various definitions such as Gender Dysphoria in order to demedicalise Gender Recognition (since applications to Gender Recognition Panels can be intrusive and undermine the idea that Gender Dysphoria is not a prerequisite to being trans) This is the same reason Section 2 of the Gender Equality Act 2015 is being repealed, since to be issued a full gender recognition certificate, there is a requirement for a professional to sign off for it rather than self declaration by an applicant.
Section 2 (2) makes amendments to the 2004 act (M:along the lines of the Draft Scotland Bill from irl and amendments to Section 22 have been altered to reflect that we recognise non binary already.)
Section 3 reflects that thanks to the Chancellor’s bill last term, we have added gender identity to the equality act over “sex” and thus adjustments have been made to the chapter on single sex spaces to reflect gender identity and ensure that trans people cannot be denied access to relevant spaces in law, as has been practice in, for example, women’s hostels to be trans inclusive previously. This act provides an opportunity to clarify this part and ensure that denial of access to these services based on perceived gender identity is discrimination based on gender identity.
Section 4 amends Section 27 of Schedule 3 of the Equality Act 2010, since references for sex discrimination have already been replaced under the Equality (Amendment) Act 2020. This changes wording to refer to gender identity and ensures that people who are trans, or otherwise of a perceived gender identity, have access to these spaces and cannot be excluded.
The Schedule, as introduced under Section 2 (3), gives the new process for applying for a Gender Recognition Certificate, guaranteeing no fees may be levied, and that the only required part is a Statutory Declaration by an applicant. There is no reflection period as this would be an antithesis for self declaration and gives the only time frame as that is required to issue the certificate. There is a right to apply as many times and that someone in the period between application and issuing may revoke their application. It recognises gender recognition that occurs outside the UK and eliminates the need to reapply if you are a non citizen resident, as well
Mr Deputy Speaker,
I believe this to be an important bill for improving our attitude to equalities. Yes, the Gender Recognition Act 2004 was a landmark piece of legislation and a victory for recognition of trans people, but reform is sorely needed and previous attempts at reforms have only tinkered with the edges. Communists and the Radical Socialist Party tinkered with the requirements under the 2015 acts and relaxed the process so that any age can receive a GRC, and removed the 2 year period for evidence upon application. That I recognise as a major step, and the advances under the Greens’ 2018 amendment under the GRA to include non binary identities, rather than the “other” status as found in the 2015 acts is another major step in reform as we are now recognising that gender exists as a spectrum and that the axioms of the binary are not fit for our modern understanding of one’s gender.
However, these acts upheld the burdensome gender recognition panel requirements, requiring someone to be going through transition or for it to be professionally certified. As we now better understand gender, Dysphoria is not a prerequisite for someone to be trans and requiring a professional diagnosis means that it makes legal recognition of a person’s gender a hurdle. That is ultimately where acts gone by have fallen short, where trans people may not experience Dysphoria or may, for whatever reason, not want to medically transition. That right for recognition must be upheld, and we only need to look to Ireland to see example of recognition in a demedicalised process in its Gender Recognition Act 2015. That is what this bill today achieves: the principle of self identification, and that the only legal requirement for someone to receive a GRC is for them to make a Statutory Declaration, a process we already use for changing information on other government identification documents.
This bill only amends Gender Recognition for England and Wales, the reforms for Scotland and Northern Ireland should seek to produce their own legislation on this matter as pertaining to the Registrar General for their respective nations, and take into account any differences in equalities law. This is my reasoning in drafting today’s bill to extend only for England and Wales.
With the nature of this bill, I have sought cross party sponsorship of this bill to signify that this House does stand with the trans community and that we reaffirm that trans rights are universal. I thank the parties who have co-sponsored and for giving me feedback on this bill’s drafting, and this strengthens the nature of it being reforms that transcends party lines. I hope to see members from all backgrounds in this House join me in passing this legislation!
  • CountBrandenburg.
This reading ends at 10pm on 13 July 2020.
submitted by Vitiating to MHOC [link] [comments]

Guide: Install macOS 11 (Big Sur) Without Cloning VM

DISCLAIMER: This was tested on a Ryzen CPU. Whilst it is highly likely that this solution will work on Intel machines, expect that it might not work. Also please know that Big Sur is still in beta and is not properly supported yet. It is slow, buggy, and stuff does not work! Install at your own risk for testing purposes only! I am not responsible for loss of data or hardware problems caused by following this guide.
------------------------------------------------------------------------------------------------------------------
Introduction
I had posted about my success with installing Big Sur without cloning a virtual machine earlier today. I thought it may be beneficial to create a guide for those wishing to install Big Sur who have been putting it off due to the complexity of the original method. Thanks to the wizards working on Opencore, the installer now boots and it is now possible to either upgrade to Big Sur or make a clean install. I am aiming the content of this guide to someone who might be new to Opencore, but has made an Opencore Hackintosh before. If you have any issues with your install, please consult the Opencore troubleshooting guide before asking me. I am happy to help with unique issues related to Big Sur.
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My Hardware
This method should be compatible with any "hackintoshable" device. If you do run into hardware compatibility issues however, here are my hardware specifications.
​CPU: Ryzen 5 1500x
Motherboard: Asus Prime B350 Plus
Graphics: ASUS OC Radeon RX 5500XT 8GB
BIOS Version: 5407
LAN: Realtek PCIe LAN (Essentially the one that works with RTL8111.kext)
Bluetooth/WiFi: N/A
------------------------------------------------------------------------------------------------------------------
What you will need
The biggest thing you are going to need is either a real Mac or a Hackintosh running Catalina. In order to build Opencore and the required kernel extensions, you will need the latest version of Xcode which only runs on Catalina. With that out of the way, here is a list of everything else you need.
------------------------------------------------------------------------------------------------------------------
Guide
So! Once you have either a real Mac or Hackintosh running Catalina, have all the necessary files and applications, and enough time, you are ready to go! If you have already opened your Xcode installation before then skip this part of the guide. Otherwise, read on!
  1. Open Xcode.
  2. Agree to the terms and conditions.
  3. Let Xcode finish installing components.
  4. Then you can quit Xcode, that's all you need to do inside it!
Now you will need to compile the latest source version of Opencore, your required kernel extensions, and drivers. To do this we will need to use Xcode's build tools or OCBuilder. For those who want to just build everything with Xcode in the terminal, see the next part of this section. I only recommend you do this if you know exactly what you are doing as you may run into issues building certain extensions, packages, etc. You will get less bloat from it, but it will be much harder to do. For those wanting to go the easy route and use OCBuilder, keep reading!
With OCBuilder
  1. Open OCBuilder (It will throw a security error so just go into System Preferences > Security and click 'Open Anyway')
  2. On the drop down box where it says "Select Version", make sure Debug is selected.
  3. Click on the checkbox 'With Kexts?' to include the latest common kernel extensions.
  4. Underneath that, click on the 'Choose...' button. Here you will choose a directory to save the finished build to.
  5. Once that is finished, click build! It will take some time, be patient. If it looks like it is locked up it likely isn't, just give it 15-25 minutes. NOTE: The first time you build with OCBuilder it will need to install programs like NASM. When it does, it will prompt you to enter your administrator's password in order to install.
  6. Once the build is completed, navigate to the directory in which OCBuilder saved your build to and take out the 'EFI' folder. Put it somewhere easy to get to like the desktop. This will be the 'EFI' folder you use while following the Opencore guide.
With Xcode (Manual Method)
  1. Firstly, you will need to clone the necessary git repositories. They are linked below...
    1. Opencore - https://github.com/acidanthera/OpenCorePkg
    2. OCBinaryData (Drivers) - https://github.com/acidanthera/OcBinaryData
    3. Kexts - Use Goldfish64's Kext Repo to download the latest extensions
  2. Create a directory that you wish to download the repository too.
  3. Open terminal and navigate to that directory. Type into the terminal git clone 'REPO_LINK _HERE' to download the repository.
  4. You don't need to build anything from OCBinaryData. Just open it and take out the drivers you need.
  5. Navigate to your Opencore download and run build_oc.tool.
  6. Once completed, Opencore will be built to the 'Binaries' directory. Extract the 'DEBUG' zip and take out the EFI folder. This is the EFI you will use to complete the Opencore guide.
    1. NOTE - Opencore may have complaints, when building, about not having programs like NASM installed. You will have to install these dependencies. The build tool should notify you of what those dependencies are.
  7. If you run into any issues with this and can't solve it, use OCBuilder or another application that does all of the necessary tasks for you.
Now you will need to complete the Opencore guide as you would normally do with a Hackintosh install. The method is essentially the same as Catalina, but AMD users have an exception as noted below.
Lastly for this section, you will need to make a decision. Either you will do a clean install or an upgrade. For an upgrade, keep reading. If you are wanting a clean install, keep scrolling until you find the 'CLEAN INSTALL' section. Upgrading is generally not recommended, but it did work for me. You will be taking your chances with an upgrade however.
UPGRADING
  1. Make sure you have already downloaded the Big Sur app as stated under the 'What you will need' section.
  2. Open MountEFI, or your EFI mounting method of choice, and mount the EFI partition of your drive with macOS installed.
  3. Open the EFI partition.
  4. BACKUP YOUR EFI FOLDER! If the EFI folder that you have just made does not work, you will need a way of getting back into the OS. I recommend creating a Catalina USB installer with your original EFI folder in the EFI partition just in case it doesn't work
  5. Once backed up, delete the old EFI folder out of the partition and paste in the new one you created before.
  6. Open up the 'Install Big Sur Beta' app you installed and follow the prompts to install.
  7. Once you have restarted, select the macOS Installer option in Opencore.
  8. The install will take 20-30 minutes.
  9. Your computer will likely restart just before the progress bar reaches the end. When it does, boot from your USB, and select the macOS Installer option in Opencore again. Once your verbose output stops at something like Forcing CS_RUNTIME for entitlement, wait and be patient. This process could take 20 minutes to a few hours! Once you restart, select the 'YOUR_DRIVE_NAME_HERE-Data' option and let it boot. Follow the on-screen prompts to get to the desktop.
  10. Congratulations, you have successfully installed macOS 11 Big Sur on your Hackintosh!
CLEAN INSTALL
  1. Firstly, you will need to create the macOS Big Sur bootable installer. To do this, get your 16gb USB drive and format it in Disk Utility with the following settings.
    1. Name: whatever you like it really doesn't matter
    2. Format: Mac OS Extended (Journaled)
    3. Scheme: GUID Partition Map
  2. FOR BETA 2: Next, open terminal and type in the following command sudo /Applications/Install\ macOS\ Big\ Sur\ Beta.app/Contents/Resources/createinstallmedia --volume /Volumes/VOLUME_NAME_HERE
    1. FOR BETA 1: Next, open terminal and type in the following command sudo /Applications/Install\ macOS\ Beta.app/Contents/Resources/createinstallmedia --volume /Volumes/VOLUME_NAME_HERE
  3. Let the createinstallmedia command do its magic. It might take a bit.
  4. Once that is done, open up MountEFI, or your EFI mounting method of choice, and mount the EFI partition of your USB.
  5. Open the EFI partition you just mounted and copy over the EFI folder you created before into it.
  6. Restart and boot from your USB.
  7. Select either the Install macOS Big Sur Beta, or the Install macOS Beta from the Opencore options, depending on if you created either a Beta 2 or Beta 1 USB.
  8. Install macOS as you would Catalina. Format the drive you will use to install macOS, and then install Big Sur through the on-screen prompts.
  9. It will say '3 minutes remaining for maybe 5-10 minutes', just be patient, it is working!
  10. Once your computer restarts, boot again to your USB and select the 'macOS Installer' option from the Opencore menu.
  11. The install will take roughly 30 minutes. It will likely restart just before the progress bar reaches the end.
  12. Once you restart, select the 'macOS Installer' option again from the Opencore menu. Once your verbose output stops at something like Forcing CS_RUNTIME for entitlement, wait and be patient. This process could take 20 minutes to a few hours! Once you restart, select the 'YOUR_DRIVE_NAME_HERE-Data' option and let it boot. Follow the on-screen prompts to get to the desktop.
  13. Congratulations, you have successfully installed macOS 11 Big Sur on your Hackintosh!
------------------------------------------------------------------------------------------------------------------
Conclusion
Hopefully all of you had some success installing Big Sur. If you had success, leave a comment saying you did! I would love to know how it went. There are some amazing people who worked this extremely complex task. Make sure to give some thanks to IOIIIO on Github for the AMD kernel patches, InsanelyMac user Andrey1970 for the SMC fix, and of course the folks who grind to make Opencore compatible with the latest version of macOS. I am simply compiling this guide to make it easy for everyone to do this. Thank you everyone!
submitted by TheCrazyHoundDog to hackintosh [link] [comments]

Selling your Covered Call - Thoughts on How to Select Your Strike and Expiration

Congratulations! You are a bag holder of company XYZ which was thought to be the best penny stock ever. Instead of feeling sorry, you consider selling covered calls to help reduce your cost basis - and eventually get out of your bags with minimal loss or even a profit!
First - let's review the call option contract. The holder of the call option contract has the right but not the obligation to purchase 100 shares of XYZ at the strike price per share. This contract has an expiration date. We assume American style option contracts which means that the option can be exercised at any point prior to expiration. Thus, there are three parameters to the option contract - the strike price, the expiration date and the premium - which represents the price per share of the contract.
The holder of the call option contract is the person that buys the option. The writer of the contract is the seller. The buyer (or holder) pays the premium. The seller (or writer) collects the premium.
As an XYZ bag holder, the covered call may help. By writing a call contract against your XYZ shares, you can collect premium to reduce your investment cost in XYZ - reducing your average cost per share. For every 100 shares of XYZ, you can write 1 call contract. Notice that that by selling the contract, you do not control if the call is exercised - only the holder of the contract can exercise it.
There are several online descriptions about the covered call strategy. Here is an example that might be useful to review Covered Call Description
The general guidance is to select the call strike at the price in which you would be happy selling your shares. However, the context of most online resources on the covered call strategy assume that you either just purchased the shares at market value or your average cost is below the market price. In the case as a bag holder, your average cost is most likely over - if not significantly over - the current market price. This situation simply means that you have a little work to reduce your average before you are ready to have your bags called away. For example, you would not want to have your strike set at $2.50 when your average is above that value as this would guarantee a net loss. (However, if you are simply trying to rid your bags and your average is slightly above the strike, then you might consider it as the strike price).
One more abstract concept before getting to what you want to know. The following link shows the Profit/Loss Diagram for Covered Call Conceptually, the blue line shows the profit/loss value of your long stock position. The line crosses the x-axis at your average cost, i.e the break-even point for the long stock position. The green/red hockey stick is the profit (green) or loss (red) of the covered call position (100 long stock + 1 short call option). The profit has a maximum value at the strike price. This plateau is due to the fact that you only receive the agreed upon strike price per share when the call option is exercised. Below the strike, the profit decreases along the unit slope line until the value becomes negative. It is a misnomer to say that the covered call is at 'loss' since it is really the long stock that has decreased in value - but it is not loss (yet). Note that the break-even point marked in the plot is simply the reduced averaged cost from the collected premium selling the covered call.
As a bag holder, it will be a two-stage process: (1) reduce the average cost (2) get rid of bags.
Okay let's talk selecting strike and expiration. You must jointly select these two parameters. Far OTM strikes will collect less premium where the premium will increase as you move the strike closer to the share price. Shorter DTE will also collect less premium where the premium will increase as you increase the DTE.
It is easier to describe stage 2 "get rid of bags" first. Let us pretend that our hypothetical bag of 100 XYZ shares cost us $5.15/share. The current XYZ market price is $3/share - our hole is $2.15/share that we need to dig out. Finally, assume the following option chain (all hypothetical):
DTE Strike Premium Intrinsic Value Time Value
20 $2.5 $0.60 $0.50 $0.10
20 $5.0 $0.25 $0 $0.25
20 $7.5 $0.05 $0 $0.05
50 $2.5 $0.80 $0.50 $0.30
50 $5.0 $0.40 $0 $0.40
50 $7.5 $0.20 $0 $0.20
110 $2.5 $0.95 $0.50 $0.45
110 $5.0 $0.50 $0 $0.50
110 $7.5 $0.25 $0 $0.25
Purely made up the numbers, but the table illustrates the notional behavior of an option chain. The option value (premium) is the intrinsic value plus the time value. Only the $2.5 strike has intrinsic value since the share price is $3 (which is greater than $2.5). Notice that intrinsic value cannot be negative. The rest of the premium is the time value of the option which is essentially the monetary bet associated with the probability that the share price will exceed the strike at expiration.
According to the table, we could collect the most premium by selling the 110 DTE $2.5 call for $0.95. However, there is a couple problems with that option contract. We are sitting with bags at $5.15/share and receiving $0.95 will only reduce our average to $4.20/share. On expiration, if still above $2.5, then we are assigned, shares called away and we receive $2.50/share or a loss of $170 - not good.
Well, then how about the $5 strike at 110 DTE for $0.50? This reduces us to $4.65/share which is under the $5 strike so we would make a profit of $35! This is true - however 110 days is a long time to make $35. You might say that is fine you just want to get the bags gone don't care. Well maybe consider a shorter DTE - even the 20 DTE or 50 DTE would collect premium that reduces your average below $5. This would allow you to react to any stock movement that occurs in the near-term.
Consider person A sells the 110 DTE $5 call and person B sells the 50 DTE $5 call. Suppose that the XYZ stock increases to $4.95/share in 50 days then goes to $8 in the next 30 days then drops to $3 after another 30 days. This timeline goes 110 days and person A had to watch the price go up and fall back to the same spot with XYZ stock at $3/share. Granted the premium collected reduced the average but stilling hold the bags. Person B on the other hand has the call expire worthless when XYZ is at $4.95/share. A decision can be made - sell immediately, sell another $5 call or sell a $7.5 call. Suppose the $7.5 call is sold with 30 DTE collecting some premium, then - jackpot - the shares are called away when XYZ is trading at $8/share! Of course, no one can predict the future, but the shorter DTE enables more decision points.
The takeaway for the second step in the 2-stage approach is that you need to select your profit target to help guide your strike selection. In this example, are you happy with the XYZ shares called away at $5/share or do you want $7.5/share? What is your opinion on the stock price trajectory? When do you foresee decision points? This will help determine the strike/expiration that matches your thoughts. Note: studies have shown that actively managing your position results in better performance than simply waiting for expiration, so you can adjust the position if your assessment on the movement is incorrect.
Let's circle back to the first step "reduce the average cost". What if your average cost of your 100 shares of XYZ is $8/share? Clearly, all of the strikes in our example option chain above is "bad" to a certain extent since we would stand to lose a lot of money if the option contract is exercised. However, by describing the second step, we know the objective for this first step is to reduce our average such that we can profit from the strikes. How do we achieve this objective?
It is somewhat the same process as previously described, but you need to do your homework a little more diligently. What is your forecast on the stock movement? Since $7.5 is the closest strike to your average, when do you expect XYZ to rise from $3/share to $7.5/share? Without PR, you might say never. With some PR then maybe 50/50 chance - if so, then what is the outlook for PR? What do you think the chances of going to $5/share where you could collect more premium?
Suppose that a few XYZ bag holders (all with a $8/share cost) discuss there outlook of the XYZ stock price in the next 120 days:
Person 10 days 20 days 30 days 40 days 50 days 100 days 120 days
A $3 $3 $3 $3 $3 $4 $4
B $4 $4 $5 $6 $7 $12 $14
C $7 $7 $7 $7 $7 $7 $7
Person A does not seem to think much price movement will occur. This person might sell the $5 call with either 20 DTE or 50 DTE. Then upon expiration, sell another $5 call for another 20-50 DTE. Person A could keep repeating this until the average is reduced enough to move onto step-2. Of course, this approach is risky if the Person A price forecast is incorrect and the stock price goes up - which might result in assignment too soon.
Person B appears to be the most bullish of the group. This person might sell the $5 call with 20 DTE then upon expiration sell the $7.5 call. After expiration, Person B might decide to leave the shares uncovered because her homework says XYZ is going to explode and she wants to capture those gains!
Person C believes that there will be a step increase in 10 days maybe due to major PR event. This person will not have the chance to reduce the average in time to sell quickly, so first he sells a $7.5 call with 20 DTE to chip at the average. At expiration, Person C would continue to sell $7.5 calls until the average at the point where he can move onto the "get rid of bags" step.
In all causes, each person must form an opinion on the XYZ price movement. Of course, the prediction will be wrong at some level (otherwise they wouldn't be bag holders!).
The takeaway for the first step in the 2-stage approach is that you need to do your homework to better forecast the price movement to identify the correct strikes to bring down your average. The quality of the homework and the risk that you are willing to take will dedicate the speed at which you can reduce your average.
Note that if you are unfortunate to have an extremely high average per share, then you might need to consider doing the good old buy-more-shares-to-average-down. This will be the fastest way to reduce your average. If you cannot invest more money, then the approach above will still work, but it will require much more patience. Remember there is no free lunch!
Advanced note: there is another method to reduce your (high) average per share - selling cash secured puts. It is the "put version" of a cover call. Suppose that you sell a XYZ $2.5 put contract for $0.50 with 60 DTE. You collect $50 from the premium of the contract. This money is immediately in your bank and reduces your investment cost. But what did you sell? If XYZ is trading below $2.50, then you will be assigned 100 shares of XYZ at $2.50/share or $250. You own more shares, but at a price which will reduce your average further. Being cash secured, your brokerage will reserve $250 from your account when you sell the contract. In essence, you reduce your buying power by $250 and conditionally purchase the shares - you do not have them until assignment. If XYZ is greater than the strike at expiration, then your broker gives back $250 cash / buying power and you keep the premium.

Early assignment - one concern is the chance of early assignment. The American style option contract allows the holder the opportunity to exercise the contract at any time prior to expiration. Early assignment almost never occurs. There are special cases that typically deal with dividends but most penny stocks are not in the position to hand out dividends. Aside from that, the holder would be throwing away option time value by early exercise. It possibly can handle - probably won't - it actually would be a benefit when selling covered calls as you would receive your profit more quickly!


This post has probably gone too long! I will stop and let's discuss this matter. I will add follow-on material with some of the following topics which factors into this discussion:
Open to other suggestions. I'm sure there are some typos and unclear statements - I will edit as needed!
\I'm not a financial advisor. Simply helping to 'coach' people through the process. You are responsible for your decisions. Do not execute a trade that you do not understand. Ask questions if needed!**
submitted by x05595113 to pennystockoptions [link] [comments]

How To Install And Run Borderlands 2 On Linux – Proton ⁄ Fixed Marcus Introduction & Cinematics

Hi everyone.
I've recently produced a video on how I got Borderlands 2 to work through Proton, check it out below and let me know what you think.
https://www.youtube.com/watch?v=StPRBwPZE_c&feature=youtu.be
More specifically it covers how actually launch the game and fix the Marcus introduction cinematic so that it plays correctly and does not crash the game.
Alternatively for people who prefer a written guide see below:
STEP 1 – INSTALL THE GAME AND FORCE THE GAME TO LOAD WITH PROTON
Right click on the Properties of the game, tick the Force the use of a specific Steam Play compatibility tool option, click OK, and then install the game as normal.
STEP 2 – RENAME THE BORDERLANDS 2.EXE TO LAUNCHER.EXE
Right click on the game, go to Properties, LOCAL FILES, BROWSE LOCAL FILES, and in the window that appears click on the Binaries folder, and from there click on Win32.
Inside that folder rename Launcher.exe to Launcher.exe.old and Borderlands2.exe to Launcher.exe.
You will now be able to launch the game, and manually set your graphical options, so do that and exit the game once done.
STEP 3 – FIX THE CINEMATICS AND CUTSCENE VIDEOS
Download the first Media Foundation Wine Workaround script at: https://github.com/z0z0z/mf-install
Click on the green Code button, choose the Download ZIP option, extract the downloaded archive and open up a Terminal window in that folder.
In the Terminal window you want to type something similar to the following referencing where the game is installed on your system, which in my case is:
WINEPREFIX="/home/ryanj/.local/share/Steam/steamapps/compatdata/49520/pfx" ./mf-install.sh
Once done, download the second Media Foundation Wine Workaround script which can be found at: https://github.com/z0z0z/mf-installcab
Once again, click on the green Code button, choose the Download ZIP option, extract the downloaded archive and open up a Terminal window in that folder.
In the Terminal window you want to type something similar to the following referencing where the game is installed on your system, which in my case is:
WINEPREFIX="/home/ryanj/.local/share/Steam/steamapps/compatdata/49520/pfx" ./install-mf-32.sh
All you need to do at this point is copy the mfplat.dll to the game’s application folder.
The easiest method for doing that is to open up Steam, right click on the game, click on Properties, LOCAL FILES, BROWSE LOCAL FILES, and paste the dll in the window that appears.
STEP 4 – ADDITIONAL PERFORMANCE TWEAKS
Add the following to the game's custom launcher options: __GL_THREADED_OPTIMIZATIONS=1 PROTON_USE_D9VK=1 %command%
After all this is done, the game should function the same as running it on Windows.
If you found this helpful, please consider checking out all the other content on my channel and subscribing to support me.
Many Thanks
Ryan
submitted by Intelligent-Gaming to SteamPlay [link] [comments]

Step-by-Step Guide for Adding a Stack, Expanding Control Lines, and Building an Assembler

After the positive response to my first tutorial on expanding the RAM, I thought I'd continue the fun by expanding the capabilities of Ben's 8-bit CPU even further. That said, you'll need to have done the work in the previous post to be able to do this. You can get a sense for what we'll do in this Imgur gallery.
In this tutorial, we'll balance software and hardware improvements to make this a pretty capable machine:

Parts List

To only update the hardware, you'll need:
If you want to update the toolchain, you'll need:
  1. Arduino Mega 2560 (Amazon) to create the programmer.
  2. Ribbon Jumper Cables (Amazon) to connect the Arduino to the breadboard.
  3. TL866 II Plus EEPROM Programmer (Amazon) to program the ROM.
Bonus Clock Improvement: One additional thing I did is replace the 74LS04 inverter in Ben's clock circuit with a 74LS14 inverting Schmitt trigger (datasheet, Jameco). The pinouts are identical! Just drop it in, wire the existing lines, and then run the clock output through it twice (since it's inverting) to get a squeaky clean clock signal. Useful if you want to go even faster with the CPU.

Step 1: Program with an Arduino and Assembler (Image 1, Image 2)

There's a certain delight in the physical programming of a computer with switches. This is how Bill Gates and Paul Allen famously programmed the Altair 8800 and started Microsoft. But at some point, the hardware becomes limited by how effectively you can input the software. After upgrading the RAM, I quickly felt constrained by how long it took to program everything.
You can continue to program the computer physically if you want and even after upgrading that option is still available, so this step is optional. There's probably many ways to approach the programming, but this way felt simple and in the spirit of the build. We'll use an Arduino Mega 2560, like the one in Ben's 6502 build, to program the RAM. We'll start with a homemade assembler then switch to something more robust.
Preparing the Physical Interface
The first thing to do is prepare the CPU to be programmed by the Arduino. We already did the hard work on this in the RAM upgrade tutorial by using the bus to write to the RAM and disconnecting the control ROM while in program mode. Now we just need to route the appropriate lines to a convenient spot on the board to plug the Arduino into.
  1. This is optional, but I rewired all the DIP switches to have ground on one side, rather than alternating sides like Ben's build. This just makes it easier to route wires.
  2. Wire the 8 address lines from the DIP switch, connecting the side opposite to ground (the one going to the chips) to a convenient point on the board. I put them on the far left, next to the address LEDs and above the write button circuit.
  3. Wire the 8 data lines from the DIP switch, connecting the side opposite to ground (the one going to the chips) directly below the address lines. Make sure they're separated by the gutter so they're not connected.
  4. Wire a line from the write button to your input area. You want to connect the side of the button that's not connected to ground (the one going to the chip).
So now you have one convenient spot with 8 address lines, 8 data lines, and a write line. If you want to get fancy, you can wire them into some kind of connector, but I found that ribbon jumper cables work nicely and keep things tidy.
The way we'll program the RAM is to enter program mode and set all the DIP switches to the high position (e.g., 11111111). Since the switches are upside-down, this means they'll all be disconnected and not driving to ground. The address and write lines will simply be floating and the data lines will be weakly pulled up by 1k resistors. Either way, the Arduino can now drive the signals going into the chips using its outputs.
Creating the Arduino Programmer
Now that we can interface with an Arduino, we need to write some software. If you follow Ben's 6502 video, you'll have all the knowledge you need to get this working. If you want some hints and code, see below (source code):
  1. Create arrays for your data and address lines. For example: const char ADDRESS_LINES[] = {39, 41, 43, 45, 47, 49, 51, 53};. Create your write line with #define RAM_WRITE 3.
  2. Create functions to enable and disable your address and data lines. You want to enable them before writing. Make sure to disable them afterward so that you can still manually program using DIP switches without disconnecting the Arduino. The code looks like this (just change INPUT to OUTPUT accordingly): for(int n = 0; n < 8; n += 1) { pinMode(ADDRESS_LINES[n], OUTPUT); }
  3. Create a function to write to an address. It'll look like void writeData(byte writeAddress, byte writeData) and basically use two loops, one for address and one for data, followed by toggling the write.
  4. Create a char array that contains your program and data. You can use #define to create opcodes like #define LDA 0x01.
  5. In your main function, loop through the program array and send it through writeData.
With this setup, you can now load multi-line programs in a fraction of a second! This can really come in handy with debugging by stress testing your CPU with software. Make sure to test your setup with existing programs you know run reliably. Now that you have your basic setup working, you can add 8 additional lines to read the bus and expand the program to let you read memory locations or even monitor the running of your CPU.
Making an Assembler
The above will serve us well but it's missing a key feature: labels. Labels are invaluable in assembly because they're so versatile. Jumps, subroutines, variables all use labels. The problem is that labels require parsing. Parsing is a fun project on the road to a compiler but not something I wanted to delve into right now--if you're interested, you can learn about Flex and Bison. Instead, I found a custom assembler that lets you define your CPU's instruction set and it'll do everything else for you. Let's get it setup:
  1. If you're on Windows, you can use the pre-built binaries. Otherwise, you'll need to install Rust and compile via cargo build.
  2. Create a file called 8bit.cpu and define your CPU instructions (source code). For example, LDA would be lda {address} -> 0x01 @ address[7:0]. What's cool is you can also now create the instruction's immediate variant instead of having to call it LDI: lda #{value} -> 0x05 @ value[7:0].
  3. You can now write assembly by adding #include "8bit.cpu" to the top of your code. There's a lot of neat features so make sure to read the documentation!
  4. Once you've written some assembly, you can generate the machine code using ./customasm yourprogram.s -f hexc -p. This prints out a char array just like our Arduino program used!
  5. Copy the char array into your Arduino program and send it to your CPU.
At this stage, you can start creating some pretty complex programs with ease. I would definitely play around with writing some larger programs. I actually found a bug in my hardware that was hidden for a while because my programs were never very complex!

Step 2: Expand the Control Lines (Image)

Before we can expand the CPU any further, we have to address the fact we're running out of control lines. An easy way to do this is to add a 3rd 28C16 ROM and be on your way. If you want something a little more involved but satisfying, read on.
Right now the control lines are one hot encoded. This means that if you have 4 lines, you can encode 4 states. But we know that a 4-bit binary number can encode 16 states. We'll use this principle via 74LS138 decoders, just like Ben used for the step counter.
Choosing the Control Line Combinations
Everything comes with trade-offs. In the case of combining control lines, it means the two control lines we choose to combine can never be activated at the same time. We can ensure this by encoding all the inputs together in the first 74LS138 and all the outputs together in a second 74LS138. We'll keep the remaining control lines directly connected.
Rewiring the Control Lines
If your build is anything like mine, the control lines are a bit of a mess. You'll need to be careful when rewiring to ensure it all comes back together correctly. Let's get to it:
  1. Place the two 74LS138 decoders on the far right side of the breadboard with the ROMs. Connect them to power and ground.
  2. You'll likely run out of inverters, so place a 74LS04 on the breadboard above your decoders. Connect it to power and ground.
  3. Carefully take your inputs (MI, RI, II, AI, BI, J) and wire them to the outputs of the left 74LS138. Do not wire anything to O0 because that's activated by 000 which won't work for us!
  4. Carefully take your outputs (RO, CO, AO, EO) and wire them to the outputs of the right 74LS138. Remember, do not wire anything to O0!
  5. Now, the 74LS138 outputs are active low, but the ROM outputs were active high. This means you need to swap the wiring on all your existing 74LS04 inverters for the LEDs and control lines to work. Make sure you track which control lines are supposed to be active high vs. active low!
  6. Wire E3 to power and E2 to ground. Connect the E1 on both 138s together, then connect it to the same line as OE on your ROMs. This will ensure that the outputs are disabled when you're in program mode. You can actually take off the 1k pull-up resistors from the previous tutorial at this stage, because the 138s actively drive the lines going to the 74LS04 inverters rather than floating like the ROMs.
At this point, you really need to ensure that the massive rewiring job was successful. Connect 3 jumper wires to A0-A2 and test all the combinations manually. Make sure the correct LED lights up and check with a multimeteoscilloscope that you're getting the right signal at each chip. Catching mistakes at this point will save you a lot of headaches! Now that everything is working, let's finish up:
  1. Connect A0-A2 of the left 74LS138 to the left ROM's A0-A2.
  2. Connect A0-A2 of the right 74LS138 to the right ROM's A0-A2.
  3. Distribute the rest of the control signals across the two ROMs.
Changing the ROM Code
This part is easy. We just need to update all of our #define with the new addresses and program the ROMs again. For clarity that we're not using one-hot encoding anymore, I recommend using hex instead of binary. So instead of #define MI 0b0000000100000000, we can use #define MI 0x0100, #define RI 0x0200, and so on.
Testing
Expanding the control lines required physically rewiring a lot of critical stuff, so small mistakes can creep up and make mysterious errors down the road. Write a program that activates each control line at least once and make sure it works properly! With your assembler and Arduino programmer, this should be trivial.
Bonus: Adding B Register Output
With the additional control lines, don't forget you can now add a BO signal easily which lets you fully use the B register.

Step 3: Add a Stack (Image 1, Image 2)

Adding a stack significantly expands the capability of the CPU. It enables subroutines, recursion, and handling interrupts (with some additional logic). We'll create our stack with an 8-bit stack pointer hard-coded from $0100 to $01FF, just like the 6502.
Wiring up the Stack Pointer
A stack pointer is conceptually similar to a program counter. It stores an address, you can read it and write to it, and it increments. The only difference between a stack pointer and a program counter is that the stack pointer must also decrement. To create our stack pointer, we'll use two 74LS193 4-bit up/down binary counters:
  1. Place a 74LS00 NAND gate, 74LS245 transceiver, and two 74LS193 counters in a row next to your output register. Wire up power and ground.
  2. Wire the the Carry output of the right 193 to the Count Up input of the left 193. Do the same for the Borrow output and Count Down input.
  3. Connect the Clear input between the two 193s and with an active high reset line. The B register has one you can use on its 74LS173s.
  4. Connect the Load input between the two 193s and to a new active low control line called SI on your 74LS138 decoder.
  5. Connect the QA-QD outputs of the lower counter to A8-A5 and the upper counter to A4-A1. Pay special attention because the output are in a weird order (BACD) and you want to make sure the lower A is connected to A8 and the upper A is connected to A4.
  6. Connect the A-D inputs of the lower counter to B8-B5 and the upper counter to B4-B1. Again, the inputs are in a weird order and on both sides of the chip so pay special attention.
  7. Connect the B1-B8 outputs of the 74LS245 transceiver to the bus.
  8. On the 74LS245 transceiver, connect DIR to power (high) and connect OE to a new active low control line called SO on your 74LS138 decoder.
  9. Add 8 LEDs and resistors to the lower part of the 74LS245 transceiver (A1-A8) so you can see what's going on with the stack pointer.
Enabling Increment & Decrement
We've now connected everything but the Count Up and Count Down inputs. The way the 74LS193 works is that if nothing is counting, both inputs are high. If you want to increment, you keep Count Down high and pulse Count Up. To decrement, you do the opposite. We'll use a 74LS00 NAND gate for this:
  1. Take the clock from the 74LS08 AND gate and make it an input into two different NAND gates on the 74LS00.
  2. Take the output from one NAND gate and wire it to the Count Up input on the lower 74LS193 counter. Take the other output and wire it to the Count Down input.
  3. Wire up a new active high control line called SP from your ROM to the NAND gate going into Count Up.
  4. Wire up a new active high control line called SM from your ROM to the NAND gate going into Count Down.
At this point, everything should be working. Your counter should be able to reset, input a value, output a value, and increment/decrement. But the issue is it'll be writing to $0000 to $00FF in the RAM! Let's fix that.
Accessing Higher Memory Addresses
We need the stack to be in a different place in memory than our regular program. The problem is, we only have an 8-bit bus, so how do we tell the RAM we want a higher address? We'll use a special control line to do this:
  1. Wire up an active high line called SA from the 28C16 ROM to A8 on the Cypress CY7C199 RAM.
  2. Add an LED and resistor so you can see when the stack is active.
That's it! Now, whenever we need the stack we can use a combination of the control line and stack pointer to access $0100 to $01FF.
Updating the Instruction Set
All that's left now is to create some instructions that utilize the stack. We'll need to settle some conventions before we begin:
If you want to add a little personal flair to your design, you can change the convention fairly easily. Let's implement push and pop (source code):
  1. Define all your new control lines, such as #define SI 0x0700 and #define SO 0x0005.
  2. Create two new instructions: PSH (1011) and POP (1100).
  3. PSH starts the same as any other for the first two steps: MI|CO and RO|II|CE. The next step is to put the contents of the stack pointer into the address register via MI|SO|SA. Recall that SA is the special control line that tells the memory to access the $01XX bank rather than $00XX.
  4. We then take the contents of AO and write it into the RAM. We can also increment the stack pointer at this stage. All of this is done via: AO|RI|SP|SA, followed by TR.
  5. POP is pretty similar. Start off with MI|CO and RO|II|CE. We then need to take a cycle and decrement the stack pointer with SM. Like with PSH, we then set the address register with MI|SO|SA.
  6. We now just need to output the RAM into our A register with RO|AI|SA and then end the instruction with TR.
  7. Updating the assembler is easy since neither instruction has operands. For example, push is just psh -> 0x0B.
And that's it! Write some programs that take advantage of your new 256 byte stack to make sure everything works as expected.

Step 4: Add Subroutine Instructions (Image)

The last step to complete our stack is to add subroutine instructions. This allows us to write complex programs and paves the way for things like interrupt handling.
Subroutines are like a blend of push/pop instructions and a jump. Basically, when you want to call a subroutine, you save your spot in the program by pushing the program counter onto the stack, then jumping to the subroutine's location in memory. When you're done with the subroutine, you simply pop the program counter value from the stack and jump back into it.
We'll follow 6502 conventions and only save and restore the program counter for subroutines. Other CPUs may choose to save more state, but it's generally left up to the programmer to ensure they're not wiping out states in their subroutines (e.g., push the A register at the start of your subroutine if you're messing with it and restore it before you leave).
Adding an Extra Opcode Line
I've started running low on opcodes at this point. Luckily, we still have two free address lines we can use. To enable 5-bit opcodes, simply wire up the 4Q output of your upper 74LS173 register to A7 of your 28C16 ROM (this assumes your opcodes are at A3-A6).
Updating the ROM Writer
At this point, you simply need to update the Arduino writer to support 32 instructions vs. the current 16. So, for example, UCODE_TEMPLATE[16][8] becomes UCODE_TEMPLATE[32][8] and you fill in the 16 new array elements with nop. The problem is that the Arduino only has so much memory and with the way Ben's code is written to support conditional jumps, it starts to get tight.
I bet the code can be re-written to handle this, but I had a TL866II Plus EEPROM programmer handy from the 6502 build and I felt it would be easier to start using that instead. Converting to a regular C program is really simple (source code):
  1. Copy all the #define, global const arrays (don't forget to expand them from 16 to 32), and void initUCode(). Add #include and #include to the top.
  2. In your traditional int main (void) C function, after initializing with initUCode(), make two arrays: char ucode_upper[2048] and char ucode_lower[2048].
  3. Take your existing loop code that loops through all addresses: for (int address = 0; address < 2048; address++).
  4. Modify instruction to be 5-bit with int instruction = (address & 0b00011111000) >> 3;.
  5. When writing, just write to the arrays like so: ucode_lower[address] = ucode[flags][instruction][step]; and ucode_upper[address] = ucode[flags][instruction][step] >> 8;.
  6. Open a new file with FILE *f = fopen("rom_upper.hex", "wb");, write to it with fwrite(ucode_upper, sizeof(char), sizeof(ucode_upper), f); and close it with fclose(f);. Repeat this with the lower ROM too.
  7. Compile your code using gcc (you can use any C compiler), like so: gcc -Wall makerom.c -o makerom.
Running your program will spit out two binary files with the full contents of each ROM. Writing the file via the TL866II Plus requires minipro and the following command: minipro -p CAT28C16A -w rom_upper.hex.
Adding Subroutine Instructions
At this point, I cleaned up my instruction set layout a bit. I made psh and pop 1000 and 1001, respectively. I then created two new instructions: jsr and rts. These allow us to jump to a subroutine and returns from a subroutine. They're relatively simple:
  1. For jsr, the first three steps are the same as psh: MI|CO, RO|II|CE, MI|SO|SA.
  2. On the next step, instead of AO we use CO to save the program counter to the stack: CO|RI|SP|SA.
  3. We then essentially read the 2nd byte to do a jump and terminate: MI|CO, RO|J.
  4. For rts, the first four steps are the same as pop: MI|CO, RO|II|CE, SM, MI|SO|SA.
  5. On the next step, instead of AI we use J to load the program counter with the contents in stack: RO|J|SA.
  6. We're not done! If we just left this as-is, we'd jump to the 2nd byte of jsr which is not an opcode, but a memory address. All hell would break loose! We need to add a CE step to increment the program counter and then terminate.
Once you update the ROM, you should have fully functioning subroutines with 5-bit opcodes. One great way to test them is to create a recursive program to calculate something--just don't go too deep or you'll end up with a stack overflow!

Conclusion

And that's it! Another successful upgrade of your 8-bit CPU. You now have a very capable machine and toolchain. At this point I would have a bunch of fun with the software aspects. In terms of hardware, there's a number of ways to go from here:
  1. Interrupts. Interrupts are just special subroutines triggered by an external line. You can make one similar to how Ben did conditional jumps. The only added complexity is the need to load/save the flags register since an interrupt can happen at any time and you don't want to destroy the state. Given this would take more than 8 steps, you'd also need to add another line for the step counter (see below).
  2. ROM expansion. At this point, address lines on the ROM are getting tight which limits any expansion possibilities. With the new approach to ROM programming, it's trivial to switch out the 28C16 for the 28C256 that Ben uses in the 6502. These give you 4 additional address lines for flags/interrupts, opcodes, and steps.
  3. LCD output. At this point, adding a 16x2 character LCD like Ben uses in the 6502 is very possible.
  4. Segment/bank register. It's essentially a 2nd memory address register that lets you access 256-byte segments/banks of RAM using bank switching. This lets you take full advantage of the 32K of RAM in the Cypress chip.
  5. Fast increment instructions. Add these to registers by replacing 74LS173s with 74LS193s, allowing you to more quickly increment without going through the ALU. This is used to speed up loops and array operations.
submitted by MironV to beneater [link] [comments]

The Motte Plays: Nomic

UPDATE: The Game is over.
Unfortunately, this particular game has ended up being something of a failed experiment. Thank you to everyone for playing, and my apologies that I didn't do a better job structuring it.
WHAT IS NOMIC?
Nomic is a game about making up the rules of the game as you go. Like Calvinball, but a little more structured.
WHAT ARE THE RULES?
The game starts with a very basic set of rules, all about how to create or amend new rules, as follows:
RULE 1: To propose a new rule, post it as a top level comment in this thread. Once it has 15 more upvotes than downvotes, it is a rule of the game that everyone must comply with. Rules that were proposed before this comes into effect shall be judged by the previous system.
RULE 2 To amend or repeal an existing or proposed rule, reply to the top level comment with your modification. Once it has 15 more upvotes than downvotes the top-level comment will be read as if your modification applies.
RULE 3 a vacuously satisfied rule (so to be compatible with its uselessness), instead of the current contradiction.
Additional rules have been added to the game, as follows:
Always sort by controversial: Everyday, the proposed rule with the highest "controversial" score gets accepted, regardless of its absolute score.
Lynch mcjunker: The user mcjunker shall be lynched at dawn on Thursday, August 28th 2025
Rules Have Names: Any post proposing a rule or amendment must include a bolded title for the rule.
The Basic Interpretation Rule: Where there are disagreements about how to interpret a rule, a person may post a "Proposed Interpretations for [Rule Name]:" comment.
Any person may reply to this comment with their preferred interpretation of the rule as a separate comment. After the proposed interpretations comment is 24 hours old, the reply that has the highest score becomes the binding interpretation.
Universal Starting Income Rule: Each player has an in-game wallet which begins containing 100 coins.
Conflict Of Rules: In the event that two or more rules (of the same classification, if separate classifications exist) conflict, then the latter adopted rule automatically controls.
Gem Acquisition Rule: When a rule proposal is implemented, the player who proposed it gets one gem.
Physical Locality Rule: The game map is an infinite binary tree. Players can choose their initial location on this map once by replying to this rule proposal with a string made up of a sequence of "L" and "R".
The Anti-Sneakiness Rule: The text of a rule must not have been edited to get accepted.
Adjudication Of Disputes: In the event of a dispute or interpretation that requires adjudication, a panel of three members of TheMotte shall sit as adjudicators.
The adjudicators shall be selected from the following list, which may be amended by later rules: crc128, AshLael, revengeclaus
The process by which the adjudication proceeds shall be determined by the three adjudicators, and need not include community input.
By a majority (>51%) vote of the sitting adjudicators, the adjudication becomes final and unappealable.
Adjudications do not set precedent, and are not mutually binding, unless this is changed by a later rule.
Rule List: All rules must be written down in the main post of the game once they are added.
Sequential Evaluation Of New Rules: When new rules are added, they must meet all currently existing rules, prior to the application of the new rule's text, unless the new rule explicitly states that it is overriding prior rules. Rules which do not meet this bar are not adopted, regardless of the disposition of votes, and shall have no effect.
No Ex Post Facto: Rules do not apply to themselves nor rules older than themselves. Amendment - Self-Referential Ex Facto(r): Rules containing any form of self-reference (however indirect), such as this rule, must abide by themselves.
Rule 1 Clarification: In "After the post is 24 hours old, if it has more upvotes than downvotes, it is a rule of the game that everyone must comply with", the post and it refers to the proposal comment itself, not the top-level thread.
A Rule to Deter Rule Proposal Spam
(1) Anyone for whom the number of his rejected new rule proposals is more than three times the number of his accepted new rule proposals, loses immediately, unless he has made fewer than five new rule proposals.
(2) For the purposes of subsection (1), any new rule proposal deleted by its author more than one hour after its posting shall be considered rejected.
If one's rule proposal is rejected, one shall drink one shot. Individuals consuming shots of alcoholic beverages because of this game shall consume no more than 40g of pure alcohol on each day of the game.Those who avoid alcohol for reasons of faith, addiction, or other moral reasons may substitute a shot of a non-alcoholic beverage of their choice.
Contradiction resolution: Rule 3 should be replaced with a vacuously satisfied rule (so to be compatible with its uselessness), instead of the current contradiction.
No Pay-To-Win Rule: No rule other than this one can make reference to real-world money or any resource (such as reddit gold or cryptocurrency) typically acquired with real-world money.
RULE 0: Have fun!
SKIN IN THE GAME: The user that proposes a rule must follow that rule prior to the rule being accepted. If they do not follow the rule then the rule will be automatically rejected.
RULE BY POPULAR VOTE: Rules proposed within the previous 24 hours are considered all at once but implemented in order of popularity (rather than chronologically).If RULE BY POPULAR VOTE is enacted, then the newly proposed rules will be considered at a specific time each day, called the "Evaluation Time". The initial value of the evaluation time will be determined by the Motte Nomic President, if there is one, or by AshLael if no Mott Nomic President has been selected.
Sort By New Rule: The reddit thread for game conversation is to be sorted by "New".
Parentheses Rule: Only rule text not inside parentheses is binding. Text inside of parenthesis is still recorded on the list, and may be used for interpretation or asides. (So far this seems to go without saying but it's nice to have it in writing.)
Book Review Meta Win Condition: The presumptive winner must submit a book review effort post to TheMotte subsequent to meeting all other win conditions besides this one to officially win the game. The book to be reviewed will be "Twilight", or something equally horrible as agreed on by other TheMotte users. The winner will have to actually read this book, and give it a glowing review. Said book review must be strive to be apophenic and make substantial defensible references to Meditations on Moloch, The Pentateuch, and prominent culture war issues at the time of posting.
The Archipelipatchwork Rule: Should the US Federal government be legally dissolved during this game, due to circumstances including but not limited to the election of Scott Alexander or Curtis Yarvin as President in November 2020, the existing Rules shall form the founding Constitution of at least one (1) successor microstate.
Prosecution System: A player may publicly accuse another player of rule breaking. In making such an accusation, the accused player and the allegedly broken rule must be named.
The accused player must choose how they shall be tried in 24 hours counted from the making of the accusation and start their chosen option during this interval. If they fail to do this, they are convicted. He may choose from the following options:
Trial by Voices - The accused player must state that he is innocent. If his post stating innocence has more upvotes than downvotes after 24 hours, he is acquitted. Otherwise, he is convicted.
Trial by Combat - The accused player may face his accuser in a 1 on 1 contest. If the accuser and the accused can agree on a contest, that will be the contest for the trial by combat. If the accused player wins, he is acquitted. If he loses, he is convicted. The precise nature of the contest is to be determined by amendment to this rule.
Trial by Ordeal - The accused player must complete a challenging task. If the accuser and the accused can agree on a task, that will be the task for the trial by ordeal. If he succeeds, he is acquitted. If he fails, he is convicted. The precise nature of the ordeal is to be determined by amendment to this rule.
A successfully convicted player becomes a thrall of his accuser. A thrall may only win the game if his master also wins.
If a player is accused of rule breaking by another player, no player can accuse the accused player of the same rule-breaking case later (not even the original accuser). However players can accuse the accused player of breaking the same rule later provided that the alleged breaking of the same rule constitutes a different case.
PUBLIC SPIRITED: Rule proposals must apply to everyone equally. No singling out specific users. Amendments to rules can still single out specific users.
The Hemlock Rule: No player shall corrupt the youth of Athens.
Amendments may be Amended: Amendments may themselves be amended by further amendments. Amendments and amendments to amendments don't have to be direct responses to the rule they're amending. (For example, this ought to be valid as an amendment despite the objection by Taleuntum: https://www.reddit.com/TheMotte/comments/fxlufo/the_motte_plays_nomic/fmymmm9/?context=10000 )
Ke2!: All chess matches relating to this game, whether they be a means to settle a dispute or related for some other reason, are to be played on lichess.org, and are especially not to be played on chess.com.
The Game End Rule: A single player winning or losing does not cause the game to end. The game ends when all players have won, lost, or both.
Not Actually A Rule: cjet79 asked us to take off the time-based vote hiding system. I assume this is either an attempt to make the game more interesting, part of a clever strategy, or simply sowing chaos, and in all cases I'm all for it. I've taken off the score filter for now; it'll be put back up when a moderator decides to put it back up.
It is not a coincidence that this is formatted as a rule and I encourage you to upvote/downvote accordingly.
Slavery
Players may transfer ownership of thralls between each other in exchange for in-game currency (such as Gems and Coins, as currently proposed in other rules).
A thrall is a player who has gained a win condition requiring his master to also win the game.
A thrall may purchase his own freedom using this method.
If a situation arises where there is exactly one player who, for every other player, is at the end of a chain of Thrall->Master connections starting from that other player, then that one player wins the game. A "player" for this purpose is defined as "anyone who has posted in the Nomic thread and has not lost the game".
If a closed loop of Thrall -> Master connections arises, then all connections in that loop shall be extinguished.
The General Store Rule: There is a general store that sells items, including three potions: a green potion (10 coins), a red potion (20 coins), and a blue potion (50 coins).
A player may obtain an item from this store by spending a number of coins equal to the label price.
Gems can be sold at the general store for 25 coins.
Robbers' Cove Rule: Locations on the map (of the Physical Locality Rule) with more "L"s than "R"s belong to the blue team. Locations with more "R"s than "L"s belong to the red team. Locations with an equal number of "L"s and "R"s belong to the purple team.
Coin Gifts Rule: Players may give coins as a gift to other players by publicly invoking this rule and naming a number of coins and a target player.
Only positive numbers of coins may be given via the Coin Gift Rule.
When coins are given to a target player via the Coin Gift Rule, the same number of coins is subtracted from the invoking player's number of coins.
If a player who does not have a positive number of coins invokes the Coin Gift Rule, the invocation of the coin gift rule is invalid.
If a gift via the Coin Gift Rule would cause the invoking player to have less than 0 coins, an amount equal to the invoking player's number of coins is given instead.
The Bleen/Grue Rule: The word "wins", if used in rules enacted before the beginning of April 13th 2019 A.D. (in UCT), is defined to mean something different from the standard meaning of wins and people who "win" are to be thought of as lower status.
The Fair Voting Proposition for Democracy: If a rule involves a vote with a single winner, and the voting system is not mentioned, then use approval voting by default.
The Anti-Paradox Rule: No rule may directly or indirectly cause a paradox or infinite logical loop.
Lost in Space Rule: If your location on the map (of the Physical Locality Rule) is longer than 16 characters in length, you can invoke this rule. Other players will propose new locations of no more than 16 characters in length in the replies to your invokation. The proposed location with the most upvotes, if this upvote count is positive, becomes your new location.
The Reddit Rule: Only reddit accounts may win.
submitted by AshLael to TheMotte [link] [comments]

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