More on Web3 & Crypto

ANDREW SINGER
3 years ago
Crypto seen as the ‘future of money’ in inflation-mired countries
Crypto as the ‘future of money' in inflation-stricken nations
Citizens of devalued currencies “need” crypto. “Nice to have” in the developed world.
According to Gemini's 2022 Global State of Crypto report, cryptocurrencies “evolved from what many considered a niche investment into an established asset class” last year.
More than half of crypto owners in Brazil (51%), Hong Kong (51%), and India (54%), according to the report, bought cryptocurrency for the first time in 2021.
The study found that inflation and currency devaluation are powerful drivers of crypto adoption, especially in emerging market (EM) countries:
“Respondents in countries that have seen a 50% or greater devaluation of their currency against the USD over the last decade were more than 5 times as likely to plan to purchase crypto in the coming year.”
Between 2011 and 2021, the real lost 218 percent of its value against the dollar, and 45 percent of Brazilians surveyed by Gemini said they planned to buy crypto in 2019.
The rand (South Africa's currency) has fallen 103 percent in value over the last decade, second only to the Brazilian real, and 32 percent of South Africans expect to own crypto in the coming year. Mexico and India, the third and fourth highest devaluation countries, followed suit.
Compared to the US dollar, Hong Kong and the UK currencies have not devalued in the last decade. Meanwhile, only 5% and 8% of those surveyed in those countries expressed interest in buying crypto.
What can be concluded? Noah Perlman, COO of Gemini, sees various crypto use cases depending on one's location.
‘Need to have' investment in countries where the local currency has devalued against the dollar, whereas in the developed world it is still seen as a ‘nice to have'.
Crypto as money substitute
As an adjunct professor at New York University School of Law, Winston Ma distinguishes between an asset used as an inflation hedge and one used as a currency replacement.
Unlike gold, he believes Bitcoin (BTC) is not a “inflation hedge”. They acted more like growth stocks in 2022. “Bitcoin correlated more closely with the S&P 500 index — and Ether with the NASDAQ — than gold,” he told Cointelegraph. But in the developing world, things are different:
“Inflation may be a primary driver of cryptocurrency adoption in emerging markets like Brazil, India, and Mexico.”
According to Justin d'Anethan, institutional sales director at the Amber Group, a Singapore-based digital asset firm, early adoption was driven by countries where currency stability and/or access to proper banking services were issues. Simply put, he said, developing countries want alternatives to easily debased fiat currencies.
“The larger flows may still come from institutions and developed countries, but the actual users may come from places like Lebanon, Turkey, Venezuela, and Indonesia.”
“Inflation is one of the factors that has and continues to drive adoption of Bitcoin and other crypto assets globally,” said Sean Stein Smith, assistant professor of economics and business at Lehman College.
But it's only one factor, and different regions have different factors, says Stein Smith. As a “instantaneously accessible, traceable, and cost-effective transaction option,” investors and entrepreneurs increasingly recognize the benefits of crypto assets. Other places promote crypto adoption due to “potential capital gains and returns”.
According to the report, “legal uncertainty around cryptocurrency,” tax questions, and a general education deficit could hinder adoption in Asia Pacific and Latin America. In Africa, 56% of respondents said more educational resources were needed to explain cryptocurrencies.
Not only inflation, but empowering our youth to live better than their parents without fear of failure or allegiance to legacy financial markets or products, said Monica Singer, ConsenSys South Africa lead. Also, “the issue of cash and remittances is huge in Africa, as is the issue of social grants.”
Money's future?
The survey found that Brazil and Indonesia had the most cryptocurrency ownership. In each country, 41% of those polled said they owned crypto. Only 20% of Americans surveyed said they owned cryptocurrency.
These markets are more likely to see cryptocurrencies as the future of money. The survey found:
“The majority of respondents in Latin America (59%) and Africa (58%) say crypto is the future of money.”
Brazil (66%), Nigeria (63%), Indonesia (61%), and South Africa (57%). Europe and Australia had the fewest believers, with Denmark at 12%, Norway at 15%, and Australia at 17%.
Will the Ukraine conflict impact adoption?
The poll was taken before the war. Will the devastating conflict slow global crypto adoption growth?
With over $100 million in crypto donations directly requested by the Ukrainian government since the war began, Stein Smith says the war has certainly brought crypto into the mainstream conversation.
“This real-world demonstration of decentralized money's power could spur wider adoption, policy debate, and increased use of crypto as a medium of exchange.”
But the war may not affect all developing nations. “The Ukraine war has no impact on African demand for crypto,” Others loom larger. “Yes, inflation, but also a lack of trust in government in many African countries, and a young demographic very familiar with mobile phones and the internet.”
A major success story like Mpesa in Kenya has influenced the continent and may help accelerate crypto adoption. Creating a plan when everyone you trust fails you is directly related to the African spirit, she said.
On the other hand, Ma views the Ukraine conflict as a sort of crisis check for cryptocurrencies. For those in emerging markets, the Ukraine-Russia war has served as a “stress test” for the cryptocurrency payment rail, he told Cointelegraph.
“These emerging markets may see the greatest future gains in crypto adoption.”
Inflation and currency devaluation are persistent global concerns. In such places, Bitcoin and other cryptocurrencies are now seen as the “future of money.” Not in the developed world, but that could change with better regulation and education. Inflation and its impact on cash holdings are waking up even Western nations.
Read original post here.
Alex Bentley
3 years ago
Why Bill Gates thinks Bitcoin, crypto, and NFTs are foolish
Microsoft co-founder Bill Gates assesses digital assets while the bull is caged.

Bill Gates is well-respected.
Reasonably. He co-founded and led Microsoft during its 1980s and 1990s revolution.
After leaving Microsoft, Bill Gates pursued other interests. He and his wife founded one of the world's largest philanthropic organizations, Bill & Melinda Gates Foundation. He also supports immunizations, population control, and other global health programs.
When Gates criticized Bitcoin, cryptocurrencies, and NFTs, it made news.
Bill Gates said at the 58th Munich Security Conference...
“You have an asset class that’s 100% based on some sort of greater fool theory that somebody’s going to pay more for it than I do.”
Gates means digital assets. Like many bitcoin critics, he says digital coins and tokens are speculative.
And he's not alone. Financial experts have dubbed Bitcoin and other digital assets a "bubble" for a decade.
Gates also made fun of Bored Ape Yacht Club and NFTs, saying, "Obviously pricey digital photographs of monkeys will help the world."
Why does Bill Gates dislike digital assets?
According to Gates' latest comments, Bitcoin, cryptos, and NFTs aren't good ways to hold value.
Bill Gates is a better investor than Elon Musk.
“I’m used to asset classes, like a farm where they have output, or like a company where they make products,” Gates said.
The Guardian claimed in April 2021 that Bill and Melinda Gates owned the most U.S. farms. Over 242,000 acres of farmland.
The Gates couple has enough farmland to cover Hong Kong.

Bill Gates is a classic investor. He wants companies with an excellent track record, strong fundamentals, and good management. Or tangible assets like land and property.
Gates prefers the "old economy" over the "new economy"
Gates' criticism of Bitcoin and cryptocurrency ventures isn't surprising. These digital assets lack all of Gates's investing criteria.
Volatile digital assets include Bitcoin. Their costs might change dramatically in a day. Volatility scares risk-averse investors like Gates.
Gates has a stake in the old financial system. As Microsoft's co-founder, Gates helped develop a dominant tech company.
Because of his business, he's one of the world's richest men.
Bill Gates is invested in protecting the current paradigm.
He won't invest in anything that could destroy the global economy.
When Gates criticizes Bitcoin, cryptocurrencies, and NFTs, he's suggesting they're a hoax. These soapbox speeches are one way he protects his interests.
Digital assets aren't a bad investment, though. Many think they're the future.
Changpeng Zhao and Brian Armstrong are two digital asset billionaires. Two crypto exchange CEOs. Binance/Coinbase.
Digital asset revolution won't end soon.
If you disagree with Bill Gates and plan to invest in Bitcoin, cryptocurrencies, or NFTs, do your own research and understand the risks.
But don’t take Bill Gates’ word for it.
He’s just an old rich guy with a lot of farmland.
He has a lot to lose if Bitcoin and other digital assets gain global popularity.
This post is a summary. Read the full article here.

Tim Denning
3 years ago
The Dogecoin millionaire mysteriously disappeared.
The American who bought a meme cryptocurrency.
Cryptocurrency is the financial underground.
I love it. But there’s one thing I hate: scams. Over the last few years the Dogecoin cryptocurrency saw massive gains.
Glauber Contessoto overreacted. He shared his rags-to-riches cryptocurrency with the media.
He's only wealthy on paper. No longer Dogecoin millionaire.
Here's what he's doing now. It'll make you rethink cryptocurrency investing.
Strange beginnings
Glauber once had a $36,000-a-year job.
He grew up poor and wanted to make his mother proud. Tesla was his first investment. He bought GameStop stock after Reddit boosted it.
He bought whatever was hot.
He was a young investor. Memes, not research, influenced his decisions.
Elon Musk (aka Papa Elon) began tweeting about Dogecoin.
Doge is a 2013 cryptocurrency. One founder is Australian. He insists it's funny.
He was shocked anyone bought it LOL.
Doge is a Shiba Inu-themed meme. Now whenever I see a Shiba Inu, I think of Doge.
Elon helped drive up the price of Doge by talking about it in 2020 and 2021 (don't take investment advice from Elon; he's joking and gaslighting you).
Glauber caved. He invested everything in Doge. He borrowed from family and friends. He maxed out his credit card to buy more Doge. Yuck.
Internet dubbed him a genius. Slumdog millionaire and The Dogefather were nicknames. Elon pumped Doge on social media.
Good times.
From $180,000 to $1,000,000+
TikTok skyrocketed Doge's price.
Reddit fueled up. Influencers recommended buying Doge because of its popularity. Glauber's motto:
Scared money doesn't earn.
Glauber was no broke ass anymore.
His $180,000 Dogecoin investment became $1M. He championed investing. He quit his dumb job like a rebellious millennial.
A puppy dog meme captivated the internet.
Rise and fall
Whenever I invest in anything I ask myself “what utility does this have?”
Dogecoin is useless.
You buy it for the cute puppy face and hope others will too, driving up the price. All cryptocurrencies fell in 2021's second half.
Central banks raised interest rates, and inflation became a pain.
Dogecoin fell more than others. 90% decline.
Glauber’s Dogecoin is now worth $323K. Still no sales. His dog god is unshakeable. Confidence rocks. Dogecoin millionaire recently said...
“I should have sold some.”
Yes, sir.
He now avoids speculative cryptocurrencies like Dogecoin and focuses on Bitcoin and Ethereum.
I've long said this. Starbucks is building on Ethereum.
It's useful. Useful. Developers use Ethereum daily. Investing makes you wiser over time, like the Dogecoin millionaire.
When risk b*tch slaps you, humility follows, as it did for me when I lost money.
You have to lose money to make money. Few understand.
Dogecoin's omissions
You might be thinking Dogecoin is crap.
I'll take a contrarian stance. Dogecoin does nothing, but it has a strong community. Dogecoin dominates internet memes.
It's silly.
Not quite. The message of crypto that many people forget is that it’s a change in business model.
Businesses create products and services, then advertise to find customers. Crypto Web3 works backwards. A company builds a fanbase but sells them nothing.
Once the community reaches MVC (minimum viable community), a business can be formed.
Community members are relational versus transactional. They're invested in a cause and care about it (typically ownership in the business via crypto).
In this new world, Dogecoin has the most important feature.
Summary
While Dogecoin does have a community I still dislike it.
It's all shady. Anything Elon Musk recommends is a bad investment (except SpaceX & Tesla are great companies).
Dogecoin Millionaire has wised up and isn't YOLOing into more dog memes.
Don't follow the crowd or the hype. Investing is a long-term sport based on fundamentals and research.
Since Ethereum's inception, I've spent 10,000 hours researching.
Dogecoin will be the foundation of something new, like Pets.com at the start of the dot-com revolution. But I doubt Doge will boom.
Be safe!
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Samer Buna
2 years ago
The Errors I Committed As a Novice Programmer
Learn to identify them, make habits to avoid them
First, a clarification. This article is aimed to make new programmers aware of their mistakes, train them to detect them, and remind them to prevent them.
I learned from all these blunders. I'm glad I have coding habits to avoid them. Do too.
These mistakes are not ordered.
1) Writing code haphazardly
Writing good content is hard. It takes planning and investigation. Quality programs don't differ.
Think. Research. Plan. Write. Validate. Modify. Unfortunately, no good acronym exists. Create a habit of doing the proper quantity of these activities.
As a newbie programmer, my biggest error was writing code without thinking or researching. This works for small stand-alone apps but hurts larger ones.
Like saying anything you might regret, you should think before coding something you could regret. Coding expresses your thoughts.
When angry, count to 10 before you speak. If very angry, a hundred. — Thomas Jefferson.
My quote:
When reviewing code, count to 10 before you refactor a line. If the code does not have tests, a hundred. — Samer Buna
Programming is primarily about reviewing prior code, investigating what is needed and how it fits into the current system, and developing small, testable features. Only 10% of the process involves writing code.
Programming is not writing code. Programming need nurturing.
2) Making excessive plans prior to writing code
Yes. Planning before writing code is good, but too much of it is bad. Water poisons.
Avoid perfect plans. Programming does not have that. Find a good starting plan. Your plan will change, but it helped you structure your code for clarity. Overplanning wastes time.
Only planning small features. All-feature planning should be illegal! The Waterfall Approach is a step-by-step system. That strategy requires extensive planning. This is not planning. Most software projects fail with waterfall. Implementing anything sophisticated requires agile changes to reality.
Programming requires responsiveness. You'll add waterfall plan-unthinkable features. You will eliminate functionality for reasons you never considered in a waterfall plan. Fix bugs and adjust. Be agile.
Plan your future features, though. Do it cautiously since too little or too much planning can affect code quality, which you must risk.
3) Underestimating the Value of Good Code
Readability should be your code's exclusive goal. Unintelligible code stinks. Non-recyclable.
Never undervalue code quality. Coding communicates implementations. Coders must explicitly communicate solution implementations.
Programming quote I like:
Always code as if the guy who ends up maintaining your code will be a violent psychopath who knows where you live. — John Woods
John, great advice!
Small things matter. If your indentation and capitalization are inconsistent, you should lose your coding license.
Long queues are also simple. Readability decreases after 80 characters. To highlight an if-statement block, you might put a long condition on the same line. No. Just never exceed 80 characters.
Linting and formatting tools fix many basic issues like this. ESLint and Prettier work great together in JavaScript. Use them.
Code quality errors:
Multiple lines in a function or file. Break long code into manageable bits. My rule of thumb is that any function with more than 10 lines is excessively long.
Double-negatives. Don't.
Using double negatives is just very not not wrong
Short, generic, or type-based variable names. Name variables clearly.
There are only two hard things in Computer Science: cache invalidation and naming things. — Phil Karlton
Hard-coding primitive strings and numbers without descriptions. If your logic relies on a constant primitive string or numeric value, identify it.
Avoiding simple difficulties with sloppy shortcuts and workarounds. Avoid evasion. Take stock.
Considering lengthier code better. Shorter code is usually preferable. Only write lengthier versions if they improve code readability. For instance, don't utilize clever one-liners and nested ternary statements just to make the code shorter. In any application, removing unneeded code is better.
Measuring programming progress by lines of code is like measuring aircraft building progress by weight. — Bill Gates
Excessive conditional logic. Conditional logic is unnecessary for most tasks. Choose based on readability. Measure performance before optimizing. Avoid Yoda conditions and conditional assignments.
4) Selecting the First Approach
When I started programming, I would solve an issue and move on. I would apply my initial solution without considering its intricacies and probable shortcomings.
After questioning all the solutions, the best ones usually emerge. If you can't think of several answers, you don't grasp the problem.
Programmers do not solve problems. Find the easiest solution. The solution must work well and be easy to read, comprehend, and maintain.
There are two ways of constructing a software design. One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies. — C.A.R. Hoare
5) Not Giving Up
I generally stick with the original solution even though it may not be the best. The not-quitting mentality may explain this. This mindset is helpful for most things, but not programming. Program writers should fail early and often.
If you doubt a solution, toss it and rethink the situation. No matter how much you put in that solution. GIT lets you branch off and try various solutions. Use it.
Do not be attached to code because of how much effort you put into it. Bad code needs to be discarded.
6) Avoiding Google
I've wasted time solving problems when I should have researched them first.
Unless you're employing cutting-edge technology, someone else has probably solved your problem. Google It First.
Googling may discover that what you think is an issue isn't and that you should embrace it. Do not presume you know everything needed to choose a solution. Google surprises.
But Google carefully. Newbies also copy code without knowing it. Use only code you understand, even if it solves your problem.
Never assume you know how to code creatively.
The most dangerous thought that you can have as a creative person is to think that you know what you’re doing. — Bret Victor
7) Failing to Use Encapsulation
Not about object-oriented paradigm. Encapsulation is always useful. Unencapsulated systems are difficult to maintain.
An application should only handle a feature once. One object handles that. The application's other objects should only see what's essential. Reducing application dependencies is not about secrecy. Following these guidelines lets you safely update class, object, and function internals without breaking things.
Classify logic and state concepts. Class means blueprint template. Class or Function objects are possible. It could be a Module or Package.
Self-contained tasks need methods in a logic class. Methods should accomplish one thing well. Similar classes should share method names.
As a rookie programmer, I didn't always establish a new class for a conceptual unit or recognize self-contained units. Newbie code has a Util class full of unrelated code. Another symptom of novice code is when a small change cascades and requires numerous other adjustments.
Think before adding a method or new responsibilities to a method. Time's needed. Avoid skipping or refactoring. Start right.
High Cohesion and Low Coupling involves grouping relevant code in a class and reducing class dependencies.
8) Arranging for Uncertainty
Thinking beyond your solution is appealing. Every line of code will bring up what-ifs. This is excellent for edge cases but not for foreseeable needs.
Your what-ifs must fall into one of these two categories. Write only code you need today. Avoid future planning.
Writing a feature for future use is improper. No.
Write only the code you need today for your solution. Handle edge-cases, but don't introduce edge-features.
Growth for the sake of growth is the ideology of the cancer cell. — Edward Abbey
9) Making the incorrect data structure choices
Beginner programmers often overemphasize algorithms when preparing for interviews. Good algorithms should be identified and used when needed, but memorizing them won't make you a programming genius.
However, learning your language's data structures' strengths and shortcomings will make you a better developer.
The improper data structure shouts "newbie coding" here.
Let me give you a few instances of data structures without teaching you:
Managing records with arrays instead of maps (objects).
Most data structure mistakes include using lists instead of maps to manage records. Use a map to organize a list of records.
This list of records has an identifier to look up each entry. Lists for scalar values are OK and frequently superior, especially if the focus is pushing values to the list.
Arrays and objects are the most common JavaScript list and map structures, respectively (there is also a map structure in modern JavaScript).
Lists over maps for record management often fail. I recommend always using this point, even though it only applies to huge collections. This is crucial because maps are faster than lists in looking up records by identifier.
Stackless
Simple recursive functions are often tempting when writing recursive programming. In single-threaded settings, optimizing recursive code is difficult.
Recursive function returns determine code optimization. Optimizing a recursive function that returns two or more calls to itself is harder than optimizing a single call.
Beginners overlook the alternative to recursive functions. Use Stack. Push function calls to a stack and start popping them out to traverse them back.
10) Worsening the current code
Imagine this:
Add an item to that room. You might want to store that object anywhere as it's a mess. You can finish in seconds.
Not with messy code. Do not worsen! Keep the code cleaner than when you started.
Clean the room above to place the new object. If the item is clothing, clear a route to the closet. That's proper execution.
The following bad habits frequently make code worse:
code duplication You are merely duplicating code and creating more chaos if you copy/paste a code block and then alter just the line after that. This would be equivalent to adding another chair with a lower base rather than purchasing a new chair with a height-adjustable seat in the context of the aforementioned dirty room example. Always keep abstraction in mind, and use it when appropriate.
utilizing configuration files not at all. A configuration file should contain the value you need to utilize if it may differ in certain circumstances or at different times. A configuration file should contain a value if you need to use it across numerous lines of code. Every time you add a new value to the code, simply ask yourself: "Does this value belong in a configuration file?" The most likely response is "yes."
using temporary variables and pointless conditional statements. Every if-statement represents a logic branch that should at the very least be tested twice. When avoiding conditionals doesn't compromise readability, it should be done. The main issue with this is that branch logic is being used to extend an existing function rather than creating a new function. Are you altering the code at the appropriate level, or should you go think about the issue at a higher level every time you feel you need an if-statement or a new function variable?
This code illustrates superfluous if-statements:
function isOdd(number) {
if (number % 2 === 1) {
return true;
} else {
return false;
}
}Can you spot the biggest issue with the isOdd function above?
Unnecessary if-statement. Similar code:
function isOdd(number) {
return (number % 2 === 1);
};11) Making remarks on things that are obvious
I've learnt to avoid comments. Most code comments can be renamed.
instead of:
// This function sums only odd numbers in an array
const sum = (val) => {
return val.reduce((a, b) => {
if (b % 2 === 1) { // If the current number is odd
a+=b; // Add current number to accumulator
}
return a; // The accumulator
}, 0);
};Commentless code looks like this:
const sumOddValues = (array) => {
return array.reduce((accumulator, currentNumber) => {
if (isOdd(currentNumber)) {
return accumulator + currentNumber;
}
return accumulator;
}, 0);
};Better function and argument names eliminate most comments. Remember that before commenting.
Sometimes you have to use comments to clarify the code. This is when your comments should answer WHY this code rather than WHAT it does.
Do not write a WHAT remark to clarify the code. Here are some unnecessary comments that clutter code:
// create a variable and initialize it to 0
let sum = 0;
// Loop over array
array.forEach(
// For each number in the array
(number) => {
// Add the current number to the sum variable
sum += number;
}
);Avoid that programmer. Reject that code. Remove such comments if necessary. Most importantly, teach programmers how awful these remarks are. Tell programmers who publish remarks like this that they may lose their jobs. That terrible.
12) Skipping tests
I'll simplify. If you develop code without tests because you think you're an excellent programmer, you're a rookie.
If you're not writing tests in code, you're probably testing manually. Every few lines of code in a web application will be refreshed and interacted with. Also. Manual code testing is fine. To learn how to automatically test your code, manually test it. After testing your application, return to your code editor and write code to automatically perform the same interaction the next time you add code.
Human. After each code update, you will forget to test all successful validations. Automate it!
Before writing code to fulfill validations, guess or design them. TDD is real. It improves your feature design thinking.
If you can use TDD, even partially, do so.
13) Making the assumption that if something is working, it must be right.
See this sumOddValues function. Is it flawed?
const sumOddValues = (array) => {
return array.reduce((accumulator, currentNumber) => {
if (currentNumber % 2 === 1) {
return accumulator + currentNumber;
}
return accumulator;
});
};
console.assert(
sumOddValues([1, 2, 3, 4, 5]) === 9
);Verified. Good life. Correct?
Code above is incomplete. It handles some scenarios correctly, including the assumption used, but it has many other issues. I'll list some:
#1: No empty input handling. What happens when the function is called without arguments? That results in an error revealing the function's implementation:
TypeError: Cannot read property 'reduce' of undefined.Two main factors indicate faulty code.
Your function's users shouldn't come across implementation-related information.
The user cannot benefit from the error. Simply said, they were unable to use your function. They would be aware that they misused the function if the error was more obvious about the usage issue. You might decide to make the function throw a custom exception, for instance:
TypeError: Cannot execute function for empty list.Instead of returning an error, your method should disregard empty input and return a sum of 0. This case requires action.
Problem #2: No input validation. What happens if the function is invoked with a text, integer, or object instead of an array?
The function now throws:
sumOddValues(42);
TypeError: array.reduce is not a functionUnfortunately, array. cut's a function!
The function labels anything you call it with (42 in the example above) as array because we named the argument array. The error says 42.reduce is not a function.
See how that error confuses? An mistake like:
TypeError: 42 is not an array, dude.Edge-cases are #1 and #2. These edge-cases are typical, but you should also consider less obvious ones. Negative numbers—what happens?
sumOddValues([1, 2, 3, 4, 5, -13]) // => still 9-13's unusual. Is this the desired function behavior? Error? Should it sum negative numbers? Should it keep ignoring negative numbers? You may notice the function should have been titled sumPositiveOddNumbers.
This decision is simple. The more essential point is that if you don't write a test case to document your decision, future function maintainers won't know if you ignored negative values intentionally or accidentally.
It’s not a bug. It’s a feature. — Someone who forgot a test case
#3: Valid cases are not tested. Forget edge-cases, this function mishandles a straightforward case:
sumOddValues([2, 1, 3, 4, 5]) // => 11The 2 above was wrongly included in sum.
The solution is simple: reduce accepts a second input to initialize the accumulator. Reduce will use the first value in the collection as the accumulator if that argument is not provided, like in the code above. The sum included the test case's first even value.
This test case should have been included in the tests along with many others, such as all-even numbers, a list with 0 in it, and an empty list.
Newbie code also has rudimentary tests that disregard edge-cases.
14) Adhering to Current Law
Unless you're a lone supercoder, you'll encounter stupid code. Beginners don't identify it and assume it's decent code because it works and has been in the codebase for a while.
Worse, if the terrible code uses bad practices, the newbie may be enticed to use them elsewhere in the codebase since they learnt them from good code.
A unique condition may have pushed the developer to write faulty code. This is a nice spot for a thorough note that informs newbies about that condition and why the code is written that way.
Beginners should presume that undocumented code they don't understand is bad. Ask. Enquire. Blame it!
If the code's author is dead or can't remember it, research and understand it. Only after understanding the code can you judge its quality. Before that, presume nothing.
15) Being fixated on best practices
Best practices damage. It suggests no further research. Best practice ever. No doubts!
No best practices. Today's programming language may have good practices.
Programming best practices are now considered bad practices.
Time will reveal better methods. Focus on your strengths, not best practices.
Do not do anything because you read a quote, saw someone else do it, or heard it is a recommended practice. This contains all my article advice! Ask questions, challenge theories, know your options, and make informed decisions.
16) Being preoccupied with performance
Premature optimization is the root of all evil (or at least most of it) in programming — Donald Knuth (1974)
I think Donald Knuth's advice is still relevant today, even though programming has changed.
Do not optimize code if you cannot measure the suspected performance problem.
Optimizing before code execution is likely premature. You may possibly be wasting time optimizing.
There are obvious optimizations to consider when writing new code. You must not flood the event loop or block the call stack in Node.js. Remember this early optimization. Will this code block the call stack?
Avoid non-obvious code optimization without measurements. If done, your performance boost may cause new issues.
Stop optimizing unmeasured performance issues.
17) Missing the End-User Experience as a Goal
How can an app add a feature easily? Look at it from your perspective or in the existing User Interface. Right? Add it to the form if the feature captures user input. Add it to your nested menu of links if it adds a link to a page.
Avoid that developer. Be a professional who empathizes with customers. They imagine this feature's consumers' needs and behavior. They focus on making the feature easy to find and use, not just adding it to the software.
18) Choosing the incorrect tool for the task
Every programmer has their preferred tools. Most tools are good for one thing and bad for others.
The worst tool for screwing in a screw is a hammer. Do not use your favorite hammer on a screw. Don't use Amazon's most popular hammer on a screw.
A true beginner relies on tool popularity rather than problem fit.
You may not know the best tools for a project. You may know the best tool. However, it wouldn't rank high. You must learn your tools and be open to new ones.
Some coders shun new tools. They like their tools and don't want to learn new ones. I can relate, but it's wrong.
You can build a house slowly with basic tools or rapidly with superior tools. You must learn and use new tools.
19) Failing to recognize that data issues are caused by code issues
Programs commonly manage data. The software will add, delete, and change records.
Even the simplest programming errors can make data unpredictable. Especially if the same defective application validates all data.
Code-data relationships may be confusing for beginners. They may employ broken code in production since feature X is not critical. Buggy coding may cause hidden data integrity issues.
Worse, deploying code that corrected flaws without fixing minor data problems caused by these defects will only collect more data problems that take the situation into the unrecoverable-level category.
How do you avoid these issues? Simply employ numerous data integrity validation levels. Use several interfaces. Front-end, back-end, network, and database validations. If not, apply database constraints.
Use all database constraints when adding columns and tables:
If a column has a NOT NULL constraint, null values will be rejected for that column. If your application expects that field has a value, your database should designate its source as not null.
If a column has a UNIQUE constraint, the entire table cannot include duplicate values for that column. This is ideal for a username or email field on a Users table, for instance.
For the data to be accepted, a CHECK constraint, or custom expression, must evaluate to true. For instance, you can apply a check constraint to ensure that the values of a normal % column must fall within the range of 0 and 100.
With a PRIMARY KEY constraint, the values of the columns must be both distinct and not null. This one is presumably what you're utilizing. To distinguish the records in each table, the database needs have a primary key.
A FOREIGN KEY constraint requires that the values in one database column, typically a primary key, match those in another table column.
Transaction apathy is another data integrity issue for newbies. If numerous actions affect the same data source and depend on each other, they must be wrapped in a transaction that can be rolled back if one fails.
20) Reinventing the Wheel
Tricky. Some programming wheels need reinvention. Programming is undefined. New requirements and changes happen faster than any team can handle.
Instead of modifying the wheel we all adore, maybe we should rethink it if you need a wheel that spins at varied speeds depending on the time of day. If you don't require a non-standard wheel, don't reinvent it. Use the darn wheel.
Wheel brands can be hard to choose from. Research and test before buying! Most software wheels are free and transparent. Internal design quality lets you evaluate coding wheels. Try open-source wheels. Debug and fix open-source software simply. They're easily replaceable. In-house support is also easy.
If you need a wheel, don't buy a new automobile and put your maintained car on top. Do not include a library to use a few functions. Lodash in JavaScript is the finest example. Import shuffle to shuffle an array. Don't import lodash.
21) Adopting the incorrect perspective on code reviews
Beginners often see code reviews as criticism. Dislike them. Not appreciated. Even fear them.
Incorrect. If so, modify your mindset immediately. Learn from every code review. Salute them. Observe. Most crucial, thank reviewers who teach you.
Always learning code. Accept it. Most code reviews teach something new. Use these for learning.
You may need to correct the reviewer. If your code didn't make that evident, it may need to be changed. If you must teach your reviewer, remember that teaching is one of the most enjoyable things a programmer can do.
22) Not Using Source Control
Newbies often underestimate Git's capabilities.
Source control is more than sharing your modifications. It's much bigger. Clear history is source control. The history of coding will assist address complex problems. Commit messages matter. They are another way to communicate your implementations, and utilizing them with modest commits helps future maintainers understand how the code got where it is.
Commit early and often with present-tense verbs. Summarize your messages but be detailed. If you need more than a few lines, your commit is too long. Rebase!
Avoid needless commit messages. Commit summaries should not list new, changed, or deleted files. Git commands can display that list from the commit object. The summary message would be noise. I think a big commit has many summaries per file altered.
Source control involves discoverability. You can discover the commit that introduced a function and see its context if you doubt its need or design. Commits can even pinpoint which code caused a bug. Git has a binary search within commits (bisect) to find the bug-causing commit.
Source control can be used before commits to great effect. Staging changes, patching selectively, resetting, stashing, editing, applying, diffing, reversing, and others enrich your coding flow. Know, use, and enjoy them.
I consider a Git rookie someone who knows less functionalities.
23) Excessive Use of Shared State
Again, this is not about functional programming vs. other paradigms. That's another article.
Shared state is problematic and should be avoided if feasible. If not, use shared state as little as possible.
As a new programmer, I didn't know that all variables represent shared states. All variables in the same scope can change its data. Global scope reduces shared state span. Keep new states in limited scopes and avoid upward leakage.
When numerous resources modify common state in the same event loop tick, the situation becomes severe (in event-loop-based environments). Races happen.
This shared state race condition problem may encourage a rookie to utilize a timer, especially if they have a data lock issue. Red flag. No. Never accept it.
24) Adopting the Wrong Mentality Toward Errors
Errors are good. Progress. They indicate a simple way to improve.
Expert programmers enjoy errors. Newbies detest them.
If these lovely red error warnings irritate you, modify your mindset. Consider them helpers. Handle them. Use them to advance.
Some errors need exceptions. Plan for user-defined exceptions. Ignore some mistakes. Crash and exit the app.
25) Ignoring rest periods
Humans require mental breaks. Take breaks. In the zone, you'll forget breaks. Another symptom of beginners. No compromises. Make breaks mandatory in your process. Take frequent pauses. Take a little walk to plan your next move. Reread the code.
This has been a long post. You deserve a break.

Frank Andrade
3 years ago
I discovered a bug that allowed me to use ChatGPT to successfully web scrape. Here's how it operates.
This method scrapes websites with ChatGPT (demo with Amazon and Twitter)
In a recent article, I demonstrated how to scrape websites using ChatGPT prompts like scrape website X using Python.
But that doesn’t always work.
After scraping dozens of websites with ChatGPT, I realized that simple prompts rarely work for web scraping.
Using ChatGPT and basic HTML, we can scrape any website.
First things first, use ChatGPT's advanced version (Playground)
ChatGPT Playground's enhanced version is needed to scrape websites quickly. It generates code faster and has less constraints.
Here’s how it looks.
The classic ChatGPT display just allows you to type a prompt. Playground is more customizable and generates code faster than the basic version.
No more delays or restrictions.
In this tutorial, we'll write prompts underneath Playground.
How to Use ChatGPT to Scrape Any Website
To show you how to utilize ChatGPT to scrape any website, we'll use subslikescript, which lists movies.
Later in this post, I'll show you how to scrape Amazon and Twitter, but let's start easy.
If we try a basic prompt like “scrape the movie titles on this website: https://subslikescript.com/movies” it won’t scrape anything. Here’s when we need some HTML knowledge to build the right prompt for ChatGPT.Let's scrape the above movie titles. First, check the webpage. Right-click any element and choose Inspect.
Then see below.
We identify the element to scrape (those in the red box). The data elements are ul, a, and scripts-list.
Here's the prompt for movie titles.
Scrape this website: https://subslikescript.com/movies with Python and Beautiful Soup. Locate the element with tag “ul” and class “scripts-list”. Scrape all the “a” elements inside. Get the text attribute and print it.
Code generated:
import requests
from bs4 import BeautifulSoup
page = requests.get('https://subslikescript.com/movies/')
soup = BeautifulSoup(page.content, 'html.parser')
scripts_list = soup.find(class_="scripts-list")
all_a_elements = scripts_list.find_all('a')
for element in all_a_elements:
print(element.get_text())It extracts movie titles successfully.
Let's scrape Amazon and Twitter.
ChatGPT's Amazon scraping
Consider scraping Amazon for self-help books. First, copy the Amazon link for self-help books.
Here’s the link I got. Location-dependent connection. Use my link to replicate my results.
Now we'll check book titles. Here's our element.
If we want to extract the book titles, we need to use the tag name span, class attribute name and a-size-base-plus a-color-base a-text-normalattribute value.
This time I'll use Selenium. I'll add Selenium-specific commands like wait 5 seconds and generate an XPath.
Scrape this website https://www.amazon.com/s?k=self+help+books&sprefix=self+help+%2Caps%2C158&ref=nb_sb_ss_ts-doa-p_2_10 with Python and Selenium.
Wait 5 seconds and locate all the elements with the following xpath: “span” tag, “class” attribute name, and “a-size-base-plus a-color-base a-text-normal” attribute value. Get the text attribute and print them.
Code generated: (I only had to manually add the path where my chromedriver is located).
from selenium import webdriver
from selenium.webdriver.common.by import By
from time import sleep
#initialize webdriver
driver = webdriver.Chrome('<add path of your chromedriver>')
#navigate to the website
driver.get("https://www.amazon.com/s?k=self+help+books&sprefix=self+help+%2Caps%2C158&ref=nb_sb_ss_ts-doa-p_2_10")
#wait 5 seconds to let the page load
sleep(5)
#locate all the elements with the following xpath
elements = driver.find_elements(By.XPATH, '//span[@class="a-size-base-plus a-color-base a-text-normal"]')
#get the text attribute of each element and print it
for element in elements:
print(element.text)
#close the webdriver
driver.close()It pulls Amazon book titles.
Utilizing ChatGPT to scrape Twitter
Say you wish to scrape ChatGPT tweets. Search Twitter for ChatGPT and copy the URL.
Here’s the link I got. We must check every tweet. Here's our element.
To extract a tweet, use the div tag and lang attribute.
Again, Selenium.
Scrape this website: https://twitter.com/search?q=chatgpt&src=typed_query using Python, Selenium and chromedriver.
Maximize the window, wait 15 seconds and locate all the elements that have the following XPath: “div” tag, attribute name “lang”. Print the text inside these elements.
Code generated: (again, I had to add the path where my chromedriver is located)
from selenium import webdriver
import time
driver = webdriver.Chrome("/Users/frankandrade/Downloads/chromedriver")
driver.maximize_window()
driver.get("https://twitter.com/search?q=chatgpt&src=typed_query")
time.sleep(15)
elements = driver.find_elements_by_xpath("//div[@lang]")
for element in elements:
print(element.text)
driver.quit()You'll get the first 2 or 3 tweets from a search. To scrape additional tweets, click X times.
Congratulations! You scraped websites without coding by using ChatGPT.

Ray Dalio
3 years ago
The latest “bubble indicator” readings.
As you know, I like to turn my intuition into decision rules (principles) that can be back-tested and automated to create a portfolio of alpha bets. I use one for bubbles. Having seen many bubbles in my 50+ years of investing, I described what makes a bubble and how to identify them in markets—not just stocks.
A bubble market has a high degree of the following:
- High prices compared to traditional values (e.g., by taking the present value of their cash flows for the duration of the asset and comparing it with their interest rates).
- Conditons incompatible with long-term growth (e.g., extrapolating past revenue and earnings growth rates late in the cycle).
- Many new and inexperienced buyers were drawn in by the perceived hot market.
- Broad bullish sentiment.
- Debt financing a large portion of purchases.
- Lots of forward and speculative purchases to profit from price rises (e.g., inventories that are more than needed, contracted forward purchases, etc.).
I use these criteria to assess all markets for bubbles. I have periodically shown you these for stocks and the stock market.
What Was Shown in January Versus Now
I will first describe the picture in words, then show it in charts, and compare it to the last update in January.
As of January, the bubble indicator showed that a) the US equity market was in a moderate bubble, but not an extreme one (ie., 70 percent of way toward the highest bubble, which occurred in the late 1990s and late 1920s), and b) the emerging tech companies (ie. As well, the unprecedented flood of liquidity post-COVID financed other bubbly behavior (e.g. SPACs, IPO boom, big pickup in options activity), making things bubbly. I showed which stocks were in bubbles and created an index of those stocks, which I call “bubble stocks.”
Those bubble stocks have popped. They fell by a third last year, while the S&P 500 remained flat. In light of these and other market developments, it is not necessarily true that now is a good time to buy emerging tech stocks.
The fact that they aren't at a bubble extreme doesn't mean they are safe or that it's a good time to get long. Our metrics still show that US stocks are overvalued. Once popped, bubbles tend to overcorrect to the downside rather than settle at “normal” prices.
The following charts paint the picture. The first shows the US equity market bubble gauge/indicator going back to 1900, currently at the 40% percentile. The charts also zoom in on the gauge in recent years, as well as the late 1920s and late 1990s bubbles (during both of these cases the gauge reached 100 percent ).
The chart below depicts the average bubble gauge for the most bubbly companies in 2020. Those readings are down significantly.
The charts below compare the performance of a basket of emerging tech bubble stocks to the S&P 500. Prices have fallen noticeably, giving up most of their post-COVID gains.
The following charts show the price action of the bubble slice today and in the 1920s and 1990s. These charts show the same market dynamics and two key indicators. These are just two examples of how a lot of debt financing stock ownership coupled with a tightening typically leads to a bubble popping.
Everything driving the bubbles in this market segment is classic—the same drivers that drove the 1920s bubble and the 1990s bubble. For instance, in the last couple months, it was how tightening can act to prick the bubble. Review this case study of the 1920s stock bubble (starting on page 49) from my book Principles for Navigating Big Debt Crises to grasp these dynamics.
The following charts show the components of the US stock market bubble gauge. Since this is a proprietary indicator, I will only show you some of the sub-aggregate readings and some indicators.
Each of these six influences is measured using a number of stats. This is how I approach the stock market. These gauges are combined into aggregate indices by security and then for the market as a whole. The table below shows the current readings of these US equity market indicators. It compares current conditions for US equities to historical conditions. These readings suggest that we’re out of a bubble.
1. How High Are Prices Relatively?
This price gauge for US equities is currently around the 50th percentile.
2. Is price reduction unsustainable?
This measure calculates the earnings growth rate required to outperform bonds. This is calculated by adding up the readings of individual securities. This indicator is currently near the 60th percentile for the overall market, higher than some of our other readings. Profit growth discounted in stocks remains high.
Even more so in the US software sector. Analysts' earnings growth expectations for this sector have slowed, but remain high historically. P/Es have reversed COVID gains but remain high historical.
3. How many new buyers (i.e., non-existing buyers) entered the market?
Expansion of new entrants is often indicative of a bubble. According to historical accounts, this was true in the 1990s equity bubble and the 1929 bubble (though our data for this and other gauges doesn't go back that far). A flood of new retail investors into popular stocks, which by other measures appeared to be in a bubble, pushed this gauge above the 90% mark in 2020. The pace of retail activity in the markets has recently slowed to pre-COVID levels.
4. How Broadly Bullish Is Sentiment?
The more people who have invested, the less resources they have to keep investing, and the more likely they are to sell. Market sentiment is now significantly negative.
5. Are Purchases Being Financed by High Leverage?
Leveraged purchases weaken the buying foundation and expose it to forced selling in a downturn. The leverage gauge, which considers option positions as a form of leverage, is now around the 50% mark.
6. To What Extent Have Buyers Made Exceptionally Extended Forward Purchases?
Looking at future purchases can help assess whether expectations have become overly optimistic. This indicator is particularly useful in commodity and real estate markets, where forward purchases are most obvious. In the equity markets, I look at indicators like capital expenditure, or how much businesses (and governments) invest in infrastructure, factories, etc. It reflects whether businesses are projecting future demand growth. Like other gauges, this one is at the 40th percentile.
What one does with it is a tactical choice. While the reversal has been significant, future earnings discounting remains high historically. In either case, bubbles tend to overcorrect (sell off more than the fundamentals suggest) rather than simply deflate. But I wanted to share these updated readings with you in light of recent market activity.
