Priors

Perpetual Futures: The Market for Leverage

Derivatives

Crypto

Finance

The derivative that never expires, the funding rate that never sleeps, and the incentives that quietly shape crypto volatility.

The Bit Bridge: Why Modern AI Still Speaks in 1970s “ASCII Armor”

LLM

A journey from the 7-bit limitations of early dial-up to the multimodal prompts of today, exploring why ‘ASCII Armor’ remains the essential glue for modern AI.

Getting a Mortgage from the Market

Finance

Options

Articles showcase a select group using options to borrow money rather than a traditional Agency mortgage. Are advertisements of $0 down and near treasury-rate mortgages a…

The Future of Context, DeepSeek OCR

Machine Learning

LLM

A breakthrough in optical character recognition (OCR) has profound implications for the future of LLMs.

Modeling a Coin Flip Game

Python

Probability

A casino offers a game: Flip a coin as long as you want. Your prize is the ratio of heads to total flips. What’s your strategy to maximize your winnings?