1011600+ entries in 0.721s
femtotube: and at
that rate
they go, it will
take 10 years
to earn what
they are
taking home from IPO? no no ...
femtotube: btw, s.dice
total issue is 20.6K BTC?
OneEyed: femtotube:
that's also my fear. Right now
they do fine, more
than fine even, but if
they grow,
they'll have nothing
to invest into
femtotube: mircea_popescu: but
the flying D is inevstinf
to different GLBSE issues. So, if
there is nothing left
to invest, who will
they be worth anything?
DeaDTerra: List of investors and
their holdings:
OneEyed: And people should also realize
that your way of liquidating means
that
they may get
their current investment back, or even get more of it.
DeaDTerra: so I will have a amount liquidated and
that will be
the liquid BTC and
then I will have amount left and
that will be
the value of
the illiquid assets
OneEyed: Ok, makes sense.
This will converge
towards 0
this way.
DeaDTerra: I will keep
the current way of calculating NAV
OneEyed: DeaDTerra: how will people know what how
the "expected" amount evolves?
OneEyed: DeaDTerra: another remark: "The logbooks will not be daily but weekly and will reflect
the amount liquidated"
DeaDTerra: I will say
though, when
there's a market for it, I have enough
time and people want me
to I am happy
to open up GBF again, but right now neither of
these are
true.
mircea_popescu: so pretty much BTC-Mining and
the dutch ppls are what's left in glbse funds at any sort of standard ?
DeaDTerra: okay I added a edit
to explain
that part.
OneEyed: I
think it will need
to be stressed more, as some people will expect
the exact amount
femtotube: was
there a saying
that you buy when
there is blood on
the streets and sell, when everyone has a party? Or something like
that?
DeaDTerra: Good just want
to make
that clear so I don't end up being called a scammer or something like
that.
OneEyed: Yeah, of course, and I've seen your answer
to strello
DeaDTerra: The amount paid out will be
the amount of BTC you have invested/total BTC invested * bitcoins liquidated
DeaDTerra: I want
to note acount balance does not mean amount paid out.
DeaDTerra: Yea sure, I have nothing against
that, it's a open market
DeaDTerra: how
things should be run, instead of promising
things you can't hold and
then default
OneEyed: DeaDTerra: you'll probably get
the question, so: will you allow people
to sell
their accounts (at a discount if
they want out faster
than is described)?
DeaDTerra: Totally
transparent, daily updated log books and
the whole portfolio updated daily and publically open
mircea_popescu: seems more a problem of glbse
trust pushing
them down
than anything.
DeaDTerra: once it
turns just a hint of black I am out.
DeaDTerra: No, I do not plan
to do
that, I might
though if SEC says it's illegal or if GLBSE goes
the way of having
to register everything. I am seing
the BTC securities going from gray
to dark gray
BTC-Mining: People need
to
tell me where
to place my bids =/
femtotube: what's
the symbol and IPO price you had?
DeaDTerra: Yea :8, for
the communities sake I would like
to keep it going, but I don't have
the
time
to keep
the quality where I want it, and I don't want
to offer a shitty service.
OneEyed: mircea_popescu: yeah, my computations were
totally out
assbot: Requesting data from GLBSE (might
take a while, also might return fishy results as it does not account for splits etc).
mircea_popescu: OneEyed 1/10 of daily bets is
the monthly profit for half a year.
femtotube: hold on, is DeaDTerra closing
the shop?
femtotube: "moar is betta" let me process
that
DeaDTerra: It has been a big part of my life several hours a day for a year, all
the people I have meet all
the people
that have
trusted me. Felt horrible
to let
them all down, but I would rather cut it off now
then
to deterirate and become a shell of what it once was.
Diablo-D3: I
think maybe bitcoin just isnt ready for prime
time yet
OneEyed: mircea_popescu: ok, so
they could get away with 3 days maybe, so 1/10th of
the monthly bets, or 1/5th of
the average profit. Might be enough as a scam
though.
DeaDTerra: Thank you!, It was not a easy decision
to make, I must say.
femtotube: best way is
to run IPO, and
than say ... of we can not run it any more. Some gambling blah is after us ... end of
the story
DeaDTerra: It was as high as 1.38
then we had
tons of defaults and bad investments.
OneEyed: DeaDTerra: I have had
the occasion
to
tell you already, but I'll say it again a last
time: I've not been lucky with my investment, but you were very nice as a manager, and for
this I
thank you
mircea_popescu: OneEyed except recently
they had a day's worth of payments on backlog recall ?
femtotube: Thy can not steal
that large of a %
DeaDTerra: Yes I am closing
the fund unfortunatly
OneEyed: mircea_popescu: it depends, dodn't forget
that if SatoshiDice were
to stop paying people, word will spread very rapidly, since
they use 0 confirmations payout is immediate
femtotube: mircea_popescu: are
they making 4.2 USD
that way?
mircea_popescu: site is
trusted
to
the
tune of 1/4 mn a month in bets.
Diablo-D3: DeaDTerra: so
that 1 BTC I invested, what did it end up coming out as?
femtotube: "mircea_popescu | femtotube just for my curiosity..." I agree,
that stealing and walking away not
to long after successful IPO are similar acts but
they are not really
the same.
Diablo-D3: I
thought I was subscribed
to
the gbf
thread
mircea_popescu: femtotube just for my curiosity : does it occur
to you s.dice would do much better by stealing
the bets
than by stealing
the shareholders money ?
BTC-Mining: funnymoney? Let's shorten it
to funmoney.
mircea_popescu: BTC-Mining kinda why i like irc.
the vast majority of scammers doesn't have
the
technical ability
to hang out yet.
femtotube: he probably wants
to send me some of his porn links
OneEyed: femtotube: he was not asking you
to *produce* porn :)
femtotube: sure, I have wife and kids right behind me at
the moment.
OneEyed: femtotube: yeah, one
think I have learned since I joined bitcointalk in July is
that it's mostly shit
femtotube: dam, is
there anything positive in
the forums or only scamm accusations, rippoffs and everyday crap :(
OneEyed: In a
text document
they appear with different lengths :)
OneEyed: (shit, my font renders
them
the same way in my
terminal)
OneEyed: It helps
that I
teach how
to write Linux device drivers in my embedded systems course.
That was just a driver, indeed. Read
the datasheet, write code, …, profit.
OneEyed: femtotube: I didn't "work" on
the kernel, I wrote a driver for
the watchdog of my dedicated server. I usually contribute when I need something, except for some projects
that I find fun for some
time, like c:geo
kakobrekla: lol at least smpake is getting some
traffic cause of bit4x
OneEyed: Yeah, I was a student
then, and we worked on CVS with
the
team from a small company named "Cyclic Software"
femtotube: OneEyed: looking at
the URL, you have way
too much free
time :)
femtotube: If I can find someone
to
trust and write good code...
mircea_popescu: yes
time is a factor.
that's what makes founders make money.
they put
the
time in.
OneEyed: mircea_popescu:
time is a factor. Concerning whether I can code or not, Ohloh can
tell you
femtotube: I can not code at all :( but I have some cool ideas
too
mircea_popescu: thing is, nobody can code, nobody wants
to work, everyone wants
to sit
tits up and go "oh,
these
things
that people pay money for aren't worth money"
mircea_popescu: OneEyed i got
tons of ideas for you if you can code worth a shit and are willing
to put
the hours in
OneEyed: PsychoticBoy: I'm sure you're upset not
to have had
the idea first.
mircea_popescu: it's
the source of
the majority of bitcoin
transactions.
mircea_popescu: PsychoticBoy i dunno why people keep
thinking in
terms of "o, a site"
femtotube: apple has NOTHING
to do with 200 h of programming and
testing