1900+ entries in 0.107s
mjr_: in which case i would like to borrow as much as i can from you
mjr_: unless you are using that word in a completely differnt way than i think
mjr_: and a dollar is not a liability of anyone
mjr_: which we use to exchange value
mjr_: if you cannot trade it in for a fixed amount of something else...there is no difference to you
mjr_: nice, i'm glad you read "debt: the first 5000 years" but that is not actually the case
mjr_: whatever we have done in the last 40 years doesn't fundamentally change the meaning of the word money
mjr_: first off, that is my point, "notes" represent assets on account
mjr_: then its not a debt
mjr_: so i have a debt that means you have to pay me other dollars
mjr_: which are denominated in...
mjr_: then it isn't backed by the house...
mjr_: that is like saying "a mortgage is backed by a house, but you cannot ever take the house'
mjr_: what is their collateral?
mjr_: you cannot redeem a dollar
mjr_: in other words i can REDEEM it
mjr_: a debt means that i am OWED something
mjr_: no...you really don't understand...
mjr_: it doesn't work that way
mjr_: oh, so it represents a debt that won't be paid to me
mjr_: the fed has others dollars
mjr_: where can i redeem this debt instrument?
mjr_: what does someone owe me?
mjr_: in the first case, you have an entity willing to always exchange at a fixed ratio
mjr_: you are mixing up "backed by" with "tradeable for"
mjr_: there is a difference
mjr_: we can agree to disagree
mjr_: what if we had an "abstract base sandwich", no it is not
mjr_: that is the basis of money
mjr_: we can trade with no debts
mjr_: and you had a cheese sandwich
mjr_: and i had a pb and j
mjr_: lets pretend we were little kids
mjr_: without any debt being involved
mjr_: and you can trade those assets for others
mjr_: since you can have assets without debt
mjr_: nah, think about it this way
mjr_: some people get to (shocking) drive on roads they never paid for
mjr_: well...that all depends, you are describing the "free rider" problem
mjr_: ah...gox is getting to be pretty annoying
mjr_: whats new in the world?
mjr_: have to check my schedule real quick but it should be fine
mjr_: i am planning on going, and will get the payment in b4 the ides of march
mjr_: and i was under that impression
mjr_: mircea_popescu: i thought the fee was 10 bitcoins for VIP, not that I am complaining, I just haven't looked in a while
mjr_: has that been edited? i seem to remember 10 bitcoin price, not sure if i am remembering wrong
mjr_: it is prevailing market rates of 1760?
mjr_: i am starting to try and make plans
mjr_: do you have the link handy for the romania trip?
mjr_: i've missed chatting with you guys
mjr_: went public on the pink sheets...as i was recommending bitcoin companies do a year ago
mjr_: did you guys see that guy from btc shop?
mjr_: but i plan on using it as a private consulting company for btcshares.com
mjr_: anyone who knows LTCM will find it prety funny
mjr_: its mostly a joke mircea_popescu
mjr_: restarting a brand new LTCM
mjr_: longtermcryptomanagement.com, longtermcryptomgmt.com and ltcmgmt.com
mjr_: i'm quite proud of it
mjr_: i just got the coolest new domain
mjr_: very weak mircea_popescu
mjr_: its listed under USD markets...
mjr_: but i haven't verified it yet
mjr_: still looks like mt gox is part of bitcoincharts
mjr_: mircea_popescu: does that include gox then?