1023200+ entries in 0.771s
mircea_popescu: smickles neither of
those could eat a 25k loss. what else you got ?
smickles: why arn't
these exchanges audited and insured?
mircea_popescu: i don't care. what i do is, i pick
things and blacklist
them.
dub: they had an employee go rogue,
there is no protection from
that
BTC-Mining: "Everyone else is using
them in bitcoinland!
They must be good!"
dub: you are missing another hack or
two, but yeah, could have run athat way
mircea_popescu: 8. zhou goes
to
tihan, whines and bitches,
threatens him with
the spirits of cryptoancestors
mircea_popescu: on
the deal
that he'll pay it back with interest from
the bitcoinica proceeds.
mircea_popescu: 3. zhou went
to rich chinese guy, bla bla bla'd him about
the future of currency, got 50k btc
mircea_popescu: 1. zhou wrote a shit algorithm for hedging. it seemed good-enouggh originally, but
then started losing money.
dub: remember he only came up with
this story after
trying
to cash out
the same amount
that was
taken from mtgox and some other exchange
dub: why would zhou lie for
tihan
though?
mircea_popescu: nevertheless,
the
truth may be "this guy i know with money who put up
the deficit 4 months ago and now just
took his own money back
dub: "some guy I know and did business with, who also uses my old email address sometimes,
took
the money. BUT he is willing
to give it back if I ask him nicely"
dub: its exactly
the kind of stupidly
transparent lie chinese
tell
mircea_popescu: this is why i was saying im not so sure
the zhoutong friend story is
true.
mircea_popescu: for
two months. We've gone from being short 40k
to now being short 88k.
mircea_popescu: happened instead is a consistent equity leak
that has remained unresolved
mircea_popescu: assumption Bitcoinica profits would quickly fill in
the rest. What's
mircea_popescu: a flatline
the next. I covered most of
the deficit from
the hack on
the
mircea_popescu: As you know, Bitcoinica went from cranking out 6-figure profit one month
to
mircea_popescu: Speaking of
that, Zhou I wanted your
thoughts on
the financial situation.
mircea_popescu: their chief guy, kruger (for whom
the kugerrand is named) actually believed
the earth is flat.
mircea_popescu: "I read and dismissed Ayn Rand in
the late 1970's. She codified and packaged selfishness and boorishness in such a nice way
that it resonated with selfish boors."
mircea_popescu: im sure we'll read all about it in
that magazine
thingamajig
dub: sadly I suspect
there will just be a show
dub: I'm half expecting some high drama suicide attempt or somethign once he loses
this bet
dub: anything matthew
touches is going
to fail
mircea_popescu: Founded in July 2010,
the Organization has already played a major role in
the development of cutting-edge financial services and promotional campaigns
mircea_popescu: In September of 2011 an interesting concept was presented in
the DCAO minutes
to increase accessibility of digital commodities
through mobile payment processors.
mircea_popescu: including some of
the brightest minds and most passionate voices in
the Bitcoin world.
assbot: Requesting data from GLBSE (might
take a while).
assbot: Requesting data from GLBSE (might
take a while).
JWU_42: I lived
there for 4 years - allows me certain liberties
to disparage it =)
JWU_42: Hey bubba - you know
that
there 'nernet
thingie
usagi: Well it's hardly a secret, I mean it isn't like
they don't have a website.
mircea_popescu: getting back
to
things of import : so wright has ~4 days
to pay up 150k usd ?
copumpkin: there's so much wrong with
that page
copumpkin: I appreciate people
trying
to learn and people
trying
to
teach
copumpkin: when people
take an obscure math concept, read for about
two minutes, and
then write a long blog post explaining it, completely wrong
copumpkin: I quite like
that quant stack exchange
though
copumpkin: he was called milord in
the italian dubbed version
copumpkin: usagi: isn't
there
that dude in a
top hat? is he your financial mentor?
mircea_popescu: i dun
think i'm cool enough yet copumpkin. i rarely know what
things are worth
copumpkin: (I'm not kidding, it's like
the dude in south park)
copumpkin: and you can hear skiena say "mmkay" every
two words
usagi: once you know what something is worth... you can have conviction in your
trade
mircea_popescu: i kinda like copumpkin cause he
tries
to be constructive.
smickles: damn, i was just going
to route him
to
the assbot wiki page
smickles: Lyspooner: what asset would you like
to
talk about?
Lyspooner: i was
told
this was a channel concerning bitcoin assets?
copumpkin: it's one of
those free online courses
copumpkin: usagi: it's just a general site for running online courses, but
the course is starting
today
usagi: copumpkin is
that a good site?
smickles: coursera, i've heard
talk about
that site
mircea_popescu: "We do use...
that
thing...
the one you just
talked about. Right. We
totally use
that. You know,
the one from...
the market.
The
thing market."
mircea_popescu: the "company"
that was doing something or
the other and peopleended up logging in as anyone etc
usagi: That
thing called mircea has no balls
mircea_popescu: this reminds me vaguely of
that
thing
that failed, what was it called...
usagi: Ok yeah back
to work I guess...
mircea_popescu: so basically what happened here is
that copumpkin said something, usagi googled, found wikipedia and now
thinks he knows ito calculus. and he'll bet me.
usagi: No wait, let's make
this interesting