1010200+ entries in 0.77s
Luceo: It's
the legal system which makes it
that way
Luceo: ErebusBat: I understand but let's just put
that into context
mircea_popescu: ErebusBat i
think
there's some game servers using it already
knotwork: having all balances have
to be signed for seems
to make it extremely robuts
ErebusBat: "bitcoins are just for criminals… as soon as GLBSE
tried
to become legal alot of users jumped ship and here are some quotes….."
Luceo: Well sure,
taken out of context it is
knotwork: Open
Transactions does work, I have never used any financial system
that was as good at actually keeping balances correct before
mircea_popescu: moreover,
the system will have
to recode itself
to fit with bitcoin
Luceo: Until
the system recognizes and legislates around Bitcoin, any attempt
to
take Bitcoin businesses
through regulation & registration is futile
ErebusBat: ^^^ I don't nessecarily disagree, but
taken out of context
that is a very bad
thing
to have in a news clipping (or courtroom)
Luceo: ErebusBat: Every Bitcoin business which has
tried
to go 'legit' has become worse
ErebusBat: <Luceo> I'm glad I pulled out of GLBSE when
they started
trying
to go legal <---
that statement looks bad
OneEyed: mircea_popescu: it started
to smell very bad
mircea_popescu: from
the forums : "GLBSE has better assets and is free. I am now even less likely
to sign up
to you."
OneEyed: I pulled
the last 100 BTC I had
there during
the last week
smickles: Luceo: congratz on being
the umteenth person
to suggest and not yet impliment a decentralized bitcoin securities exchanges. next action, find Open
Transactions
Luceo: I'm glad I pulled out of GLBSE when
they started
trying
to go legal
Luceo: So
that if one important person or server gets v&,
the exchange goes on
Luceo: And
the big governments don't
tend
to get
that far
mircea_popescu: no,
the main safe
thing about mpex is
that i'm a hardass.
Luceo: I'm starting
to
think
the main 'safe'
thing about mpex is
that you're in Romania :P
mircea_popescu: the safe side, a dump of all users' final STATs, encrypted with
their keys and clearsigned by
the exchange will be released before closing, in whatever manner will be deemed at
that
time efficient, as for instance on a p2p file sharing system.
mircea_popescu: In
the unlikely case
that
the continuation of MPEx becomes impossible, all issuers will be provided with lists of
their shareholders. A successor system would have
to be constructed (either centralized or maintained independently by
the respective issuers), but no information is lost : since people can still sign with
their keys, it is
trivial for anyone who is in fact a shareholder
to identify himself as shareholder. Just
to be on
mircea_popescu: 22. Even so, how would
the investors be affected in
the event MPEx can no longer be continued ?
mircea_popescu: Should
the systems be confiscated or otherwise lost
the service will failover
to different systems, possibly on bulletproof hosting if need be. If sufficient pressure is put on
this side MPEx will be recoded as a p2p system.
mircea_popescu: In case
the domain is confiscated or otherwise lost MPEx will move
to a different domain, in a different jurisdiction. Should
the same happen again, MPEx would move
to what will at
the
time be a solid alternative for a free Internet, be it
the
TOR network, namecoin or some equivalent DNS or any comparable solution. No government will ever be able
to stop
the Internet, in general. We're prepared
to show
this in
the particular.
Luceo: What happens
to mpex if you disappear? No one can continue
their assets?
Luceo: mircea_popescu: Could
this shit happen
to mpex?
jcpham: or
the ideas produced by
the people
jcpham: it's
the people PsychoticBoy
OneEyed: That's what is written on
the site itself
teek: DeaDTerra: so
then you don't know
the situation
Luceo: Why is it
taking so long?
teek: or were you just
told "its critical but stable"
teek: DeaDTerra: do you actually know
the situation
Uglux: DeaDTerra, and what is
the situation? oO
Doffx: I agree with PsychoticBoy, I dont have any BTC in
there its
the assets I'm more concerned with.
DeaDTerra: I just
talked
to James,
the situation is critical but stable for now. All
the coins are safe in
the offline wallet. It was not a hack.
smickles: mircea_popescu: guruvan "part of
the bitcoinica, bitcoin consultancy, bitcoinica consultancy crew
that has stolen a large amount of customer funds. Do not
trust
these guys - bitcoinica, intersango, consultancy, or any new project"
DeaDTerra: <genjix> nefario is legit. for sure
there is a reasonable explanation and everyone will get
their bitcoins back. i
trust
the guy. Seconed by me
ErebusBat: Doffx: *if* it comes back online
then it could be a massive opportunity
mircea_popescu: genjix aren't
there some coins you folks stole with bitcoinica
taht need
to be dispensed ?
ErebusBat: genjix: If
ther eis govt intervention it doesn't matter one lick if nefario was legit or not
Doffx: The btc is only one part of
the problem,
the bigger problem is everyone is going
to want out.
genjix: nefario is legit. for sure
there is a reasonable explanation and everyone will get
their bitcoins back. i
trust
the guy.
Doffx: Just wish I had
time
to dump all my shares
smickles: Doffx: no,
time for jurov|away's brokerage site
to open up public
Doffx: Time
to open free accounts for Mpex
mircea_popescu: taking a positive look on
things,
this chan passed 100 users now, so can't be all bad.
Bugpowder: herp derp I accidently
tried
to sell my shares at
the worst possible
time
smickles: mircea_popescu: i hadn't heard
that
they sold yet
smickles: lol,
theymos knew nothing of
this
Bugpowder: copumpkin why would MPEX
take GLBSE
trash? makes no sense... cryptostocks maybe
Luceo: usagi: Get everything off
there onto something safe?
mircea_popescu: the ideea is you prepare for contingencies so you don't have
to cuff it.
JWU_42: yes -
think so - but not 100% sure
mircea_popescu: o well. prepare for
the fun of handling privately your investors.
JWU_42: I already got
the Pirate reaming
ErebusBat: mircea_popescu: source? other
than your opinion?
copumpkin: it'll be a pain in
the ass, but many of
the issuers will be able
to move over
to mpex, and issue you shares based on what nefario claims you own
Doffx: What coins, if you have a bond and not btc your fucked when
this is over
ErebusBat: mircea_popescu: I don't get
the point of
that
thread. GLBSE closed down because of pressure from goat?
copumpkin: usagi: don't panic,
the records of what you own are still intact, I'm sure, and you can settle your ownership with
the asset issuers
rg: so are you admitting
that you called
the cops
mircea_popescu: BurtW not past what
the pr girl has been saying on
the forum, and i'm sure you've read and ignored.
copumpkin: asa1024: basically a single guy managed
to destroy a major bank
that had existed for a couple hundred years by lying about how much he was making
them
DeaDTerra: All
the coins are safe, it's not a bug nor a hack. More info will come on Sunday.
Try
to stay cool kids
BurtW: ErebusBat no sec, just idiocy << can you expound on
this
DeaDTerra: I am
talking
to James at
the moment
ErebusBat: mircea_popescu: any
thread or pastebin I can read
to catch up? Other
than (CLOSED WILL UPDATE IN A FEW DAYS?)
copumpkin: asa1024: if you like financial fuckup movies based on
true stories, you should also watch rogue
trader.
That's an even more ridiculous story
Luceo: All
the feds are accomplishing is driving legitimate businesses underground, into
tor, into darknet, onto IRC
rg: mtgox has enough money
to grease
the wheels
mircea_popescu: gavin has
to now code something
to accept
the coupons into
the blocks
jcpham: hi! we have all your monies.
the site is down. sucks
to be you. we'll
talk about it in a few days.
rg: someone musta called in
the federalies