147800+ entries in 0.05s
mircea_popescu: contrary to what the disney cartoon re-enactions of "the dinosaur age" may show for cinematic value, most dinosaurs died of organ failure, not of being eaten by a supposedly functional superpreditor that in point of fact was barely adequate to count as a manatee in modern terms.
mircea_popescu: either that or we'll mesterul manole all over the place.
mircea_popescu: phf this sounds to me a lot like "we'll build actual programming language on top of this approximating processor thing".
mircea_popescu: i'm not even sure the word want may be thus prostituted.
mircea_popescu: well wanting something you know can't exist is an idle sort of onanism.
mircea_popescu: it is altogether dubious, however, that priest-like organisation may exist in world bereft of some sort of hitler.
mircea_popescu: davout i have nfi what you did here. for one thing, shareholders don't get 86, they get 86 + 1% of resolveed bets - 13.37
☟︎ mircea_popescu: this "need therefore get" bs is inane already. "need therefore labour"!
mircea_popescu: no idea wtf they must be thinking - poor woman should get free tampons from strangers rather than become the domestic servant / slave / whatever of a not-poor woman ? or sex toy of a man ? or or or ?
mircea_popescu: thus therefore, he was wrongfully convicted on a technicality.
mircea_popescu: here's how spears work : they have a business end and a handle. the handle - always points toward you. the business end - always points to the enemy.
☟︎ mircea_popescu: or is that not how you say usg dun goofed in usg.agitprop
mircea_popescu: "He was convicted of violating the Computer Fraud and Abuse Act and faced 41 months in prison, but the sentence was overturned." reheheheallly. what ever happeend to "he was wrongfully prosecuted by X and unlawfully imprisoned for 41 months before the people finally came to their senses" ?
mircea_popescu: guy underwent a white supremacist conversion in prison. (which is not particularly surprising - gotta make some friends somehow!)
mircea_popescu: asciilifeform should the performance not be avoided, for it not being avoidable or for any other reason, such as that i feel like blood that morning, the bill will be paid, both here and in heaven, by the fiat governments and no one else.
mircea_popescu: asciilifeform there's one dispute to be had. i doubt very much hitler was anything but a center of mass. yes roosevelt intuited that since he wants the bureaucracy, the right move is to blame hitler, and yes churchill went along with it. but in point of fact...
mircea_popescu: i imagine you did some speccing work since you bid huh.
mircea_popescu: btw phf you gonna document what the little blue graph on top of pages even is ?
mircea_popescu: let the permanent record indelibly state that you people are driving me to drink. it is not even noon here, and what started as "shit i need breakfast to keep up with this guy. and some chocolate. more chocolate" is by now my 2nd glass of cognac.
mircea_popescu: in typical republican fashion, while everyone else was sleeping we got together and shat a few hundred lines of heavy duty material into the logs. go us!
mircea_popescu: this entire fiat sovereignity bullshit has to end, and the sooner the better. preferably before it does yet another rendition of its signature stupidity.
☟︎ mircea_popescu: ah, but i don';t mean it re germany specifically. could have said france or italy just as well. what i mean is, that a "rule of law" bureaucratic government with an economic presence is strictly speaking the nazi party irrespective of any consideration, chief on the list what they say or think they want.
☟︎ mircea_popescu: the important point, at least to my eyes, is that exactly nothing has changed.
mircea_popescu: once that changes - they'll take it all. and i don't mean houses and cars, i mean blood and livers. they also have a market value.
mircea_popescu: i am for my needs persuaded that strictly the only reason germany does not today confiscate every fixed good in current possession of its peon population is that the net result is deemed less than continuing with the current nonsense.
☟︎ mircea_popescu: just as soon as the damage done to a hated third party (here, the russians and especially the saudis) exceeds the damage done to the item itself, it's 100%.
mircea_popescu: and HAD you found it, it'd have been some family venture ran either by the hardass patriarch that founded it, or else by an exactly cloned son.
mircea_popescu: you'll be hard pressed to find a fiat corp today that is anything but another pirate ; and even fifty years ago you'd have been hard pressed to find a fiat corp that wasn't a sort of bASIC from our friend tom with blood and tears.
mircea_popescu: anyway - back to the scam thing briefly - bitcoin does in fact deliver on its "best economics lab ever devised" role, for they capable and willing to look. the whole "didn't start out as a scam" thing that is pretty much the universal rule of fiat anything, played itself more obviously, more rapidly, in the hands of more naive people less versed in covering it up.
mircea_popescu: and motherfucker this black chocolate with almods thing is to die for.
mircea_popescu: something like that. at least in macro terms, cash is not much more or much else than a right to organise activity.
mircea_popescu: suppose, alternatively, that tomorrow china declares that apple is banned as a terrorist organisation, and no azn corp can do business with them.
mircea_popescu: for the simple reason that they put it there in the first place.
mircea_popescu: let's make it even worse. suppose tomorrow its governmental sponsor announces that it is "under investigation" for "violations". you know for a fact they can steal any amount from its coffers, liek they did with say jpm.
☟︎ mircea_popescu: "it's not a scam, it's a meaningless paper construction built by people who weren't evil, just wrong, and who should have known better but didn't" ?
☟︎ mircea_popescu: wywialm i sympathize with the "not every asset is a scam angle". but consider say apple. could it buy russia ?
mircea_popescu: with less integration, the respective bullshits can at least be somewhat measured against each other on the fx markets.
mircea_popescu: which, as a sidepoint, is exactly why increased integration (aka, globalisation) comes with exponentially increased instability.
mircea_popescu: but once the market is both predicated on and discerning the bullshit, you have constructed a very unstable circularity.
mircea_popescu: indeed, not all bullshits are made equal ; and supposedly the market might help distinguish. maybe so.
mircea_popescu: maybe. but this suddenly is a different discussion than the lofty place we started.
mircea_popescu: well, from the investor's perspective, "you have to accept that this is bullshit anyway" is the same thing in either case.
mircea_popescu: i and i alone benefit from the priviledge of calling it "other risks". not them.
mircea_popescu: there's no executive priviledge vested in anyone but myself. if the president of the united states and some low life in niger say the same thing, they ARE the same thing.
mircea_popescu: wait, and it's not worthwhile for the social security administration to scam it from you ?
mircea_popescu: how is it, for that matter, different from "you have to accept, as a hyip investor, that it's not really an investment".
mircea_popescu: this "realize" is of the nature of "you have to understand we love you", ie, entirely devoid of cognitive content. it is a bit of propaganda one has to accept. ok, so they accept it - or don't. fine. what now ?
mircea_popescu: so in this sense the "split risks so i only undertake what i want to" works well in theory and on paper, but it is in practice always devolved to a luzly idiocy like "the gauss copula", direct equivalent to yesterday's discussion re the problem of computers
mircea_popescu: even if it were a liability, but it must be specified.
mircea_popescu: this splitting works for definedrisks. it can never work when you want to put defined risks in one pile and undefinable risks in the other pile.
☟︎ mircea_popescu: this is the defense against the risks problem above usually deemed as rational. the problem here is that this in practice always devolves to a sort of "when confronted with the number e, i wish to be insulated from the part past the decimal point and underwrite the part before the decimal point".
mircea_popescu: or i guess more properly : "you'll be economically insulated when you're dead."
mircea_popescu: successful insulation is another way to say economically dead, really.
mircea_popescu: yes, it is frequerntly implemented. but always as a ponzi to date.
mircea_popescu: obvious why people want insurance. unobvious that such a thing is even possible.
mircea_popescu: wywialm well, the idea is that what people want and what people need rarely meet.
mircea_popescu: what's next, we're gonna discuss whether "obama is for the people" ?
mircea_popescu: jurov i have nfi why the peanut gallery got stuck on "0 fee tx", and i have nfi why you particularly wanna paint yourself in those colors, but w/e.
mircea_popescu: the reason was very strictly that, obviously, if you pay ten aurei for a nice purple, and then wear it off, you WILL be ten aureii less rich.
mircea_popescu: wywialm you might be familiar with the unpopular office of the censor in the roman empire. his job was principally to deny women, 2nd class citizens with very little self-expression debuchees allowed by society outside of conspicuous consumption, the use of luxurious products.
mircea_popescu: the immediate correlate of "oh, i can distribute my risk to unknown parties" is, "i'll right now!! put less thought into the matter proportionately". however, whether the risk distribution works or does not work is not actually known, or even computed, now. this impedance causes trouble.
mircea_popescu: but, currently, i am not even convinced the possibility of hedging is actually a wealth increaser.
mircea_popescu: apparently even the slightest insulation from risk is bound to be misinterpreted in the most extensively insane sense. i have nfi how the fed chairman sleeps at night.