174600+ entries in 0.054s
mircea_popescu: just discussing his observation it never went anywhere.
mircea_popescu: the best part is that this works out to a 50% discount for the first year. basically, they;re out there selling adjustable APR mortgages to suckers.
mircea_popescu: VCs barely invest in their own funds. The “market standard” is for VCs to personally invest 1% of the fund size, and for investors to contribute the remaining 99%. <<
mircea_popescu: i fully expect the 2016 sv vc verbiage to be all about special pleading of the "employee contracts" sort seen this year. "we lose a lot of money but want you to somehow believe everything that exists is due us!"
mircea_popescu: "But the bigger problem – and the real problem for investors – is how little of a problem this persistent underperformance is for VCs themselves. LPs have created and perpetuate an industry of such structural economic misalignment that VCs can underperform and not only survive, but thrive."
mircea_popescu: Yet 2013 annual industry performance data from Cambridge Associates shows that venture capital continues to underperform the S&P 500, NASDAQ and Russell 2000."
mircea_popescu: "2013 had all the signs of being a comeback year for venture capital. Booming public equities and a recovered IPO market generated record portfolio company exits and distributions from VC funds. The industry realized its highest returns since the Internet boom.
mircea_popescu: aww... experiencing a little bit o' ddos, somehow. back shortly.
mircea_popescu: why would you need to purge anything, i thought usgavin had consensused with a bunch of experts as to how there's plenty of room for everything.
☟︎ mircea_popescu: this year they're all "oh noes, scarce resources, must replace blockchain with a napkin"
mircea_popescu: it's hysterical tho, last year they were all "oh noes, moore's law, infinity resources, must make blocks infinitesize"
mircea_popescu: and yeah re the src point : /me would enjoy a show conssiting of alf crossexamining pretenders.
mircea_popescu: things aren't what they are, they're what the packaging says they are.
mircea_popescu: i nten million bars all over the world a hundred million derps spend hours discussing what shit they'd stick to the sides of kardashian, also
mircea_popescu: or perhaps he's amoral for reason of mental retardation.
mircea_popescu: well, i guess it's time for an article, what can i say.
mircea_popescu: is there no honest man that ever worked for a university ?
mircea_popescu: "You would mark the signature data as special. You are indicated by green color on this slide. Everything but the green part goes into the hash of a transaction. The signature doesn't. It's just a piece of data that's still there, but we don't consider it part of the transaction.
mircea_popescu: u're designing an altcoin, there's really no reason why you would want to do this in Bitcoin. This is actually something we did in sidechain alpha."
mircea_popescu: "Wouldn't it be nice to just drop the signatures? The reason why we can't do this is because the signature is part of the transaction hash. If we would just drop the sig from the transaction, the block wouldn't validate, you wouldn't be able to prove an output spend came from that transaction, so that's not something we could do. But let's simplify the problem. What if we could redesign Bitcoin from scratch? What if yo
mircea_popescu: "The reason for this name is because signatures are not part of the transaction. They don't describe what the transaction is doing." herpitty derp, fancy that!
mircea_popescu: der and CEO ; Wayne Thayer VP of Security Products at GoDaddy
mircea_popescu: ge ; Joseph Bonneau Applied Crypto Group ; Jude Nelson Syndicate Private Cloud Storage ; Michael Folkson Founder of RiskBazaar ; Noah Thorp Co-Founder Citizen Code ; Harlan T Wood Citizen Code Enlightened Structure ; Duke Dorje Citizen Code Formerly PGP ; Joel Dietz Citizen Code Founder of Swarm ; Patrick Deegan CTO of Personal BlackBox ; John Edge Cofounder & Chairman Identity2020 ; Justin Newton Netki Foun
mircea_popescu: ter Wuille Co-founder at Blockstream Bitcoin Core Developer ; Kiara Robles Creator of blockchainMe ; Juan Benet Creator of IPFS Founder of Protocol Labs ; Alex Leverington Core Developer Ethereum ; Tyler Close Access control thinker and implementer ; Ryan Shea Co-founder Onename ; Muneeb Ali Co-founder Onename ; Drummond Reed Co-Founder & CTO Respect Network ; Matthew Schutte Co-Founder at Collaborative Advanta
mircea_popescu: Christopher Allen Former CTO Certicom Co-Author TLS 1.0 ; Jon Callas Former CTO of PGP Now CTO Silent Circle ; Greg Maxwell Bitcoin Core Maintainer CTO Blockstream ; Peter Todd Bitcoin Core Contributor ; Greg Slepak OKTurtles and DNSChain ; Markus Sabadello OASIS XDI Internet Identity ; Vitalik Buterin Founder of Ethereum and Bitcoin Magazine ; F. Randall Farmer Author of "Building Web Reputation Systems" ; Pie
mircea_popescu: scammers & usg agents decide the actual wot is kinda unfriendly to their ilk, "reboot" it. because yeah, totally, that's how it works.
☟︎ mircea_popescu: ;;everify freenode:#bitcoin-otc:feaed86ad30df427690c0e066ea0461853b2511a08790892239c341f
mircea_popescu: !v assbot:mircea_popescu.rate.sipa.-10:1a26db89a81ce7908b35e80bcfc1c5db9088d9b331b2aee2d10218a41c226c5c
mircea_popescu: herp. and this isn't something that should be fixed, rite.
mircea_popescu: rrently there is a mechanism in there using checkpoints, which we want to deprecate soon, but the result will still be that we're not validating all signatures from years ago in deep history."
mircea_popescu: In particular, we are going to be talking about signatures. It's important to realize here that signatures are really only needed for fully-validating nodes. As a light-weight client, you are not validating signatures, even though they are part of the transactions you still have to download them. If you are using a full-node that is syncing historical data, you don't actually validate all of the signatures in there. Cu
mircea_popescu: out is the question of whether all of this data is equally important.
mircea_popescu: "Okay. So I am Pieter Wuille. I'll be talking about segregated witness for Bitcoin. Before I can explain this, I want to give some context. We all know how bitcoin transactions work. Every bitcoin transaction gets inputs, which refer to previous outputs being spent. Every input has the txid and the signature to prove that it is allowed, plus an amount and script in every output. What this presentation will mostly be ab
mircea_popescu: and it does create a mess for the people on the highway.
mircea_popescu: next time you feel the itch to "drive adoption", specially to poor/stupid people, think that giving a car to a guy living in a horsepulled cart doesn't help him.
mircea_popescu: anyway, the truth of the matter is that the usg-dole livers don't belong in bitcoin. not in any other sense than they CAN NOT be in bitcoin. simply impossible.
☟︎ mircea_popescu: they want a fork. they failed to ghet the xt fork going, they're back to pretending like they're in after spending a year pretending like reddit/xtcoin was anything but outsourced philipinos. and now the pretense is that you know, whatever, nobody knows anything of the last year, nobody learned anythning, we'll just do... this. which is that.
mircea_popescu: <punkman> the worst part is that new core nodes won't be sending witness data to old nodes <<< guess why.
mircea_popescu: mod6 perhaps an announcement that the bitcoin foundation maintains and will continue to maintain a real bitcoin client, notwithstanding continued attacks from well known usg agents on the core values of sound money ?
mircea_popescu: "oh, so you exposed us ? whatever, redditards still depend on usg for their daily survival, and are dumb anyway. so we'll just carry on, but this time without shame"
mircea_popescu: BingoBoingo it's remarkable how plainly dedicated to wrecking bitcoin the usg agents are, huh.
mircea_popescu: anyone wanna do it ? you need a few k sq ft of warehouse, somewhere where it's cheap (michigan ?), a coupla packaging machines, a plastic printer and a few workers, no prior skills required that's it. 50k for advertising 50k for the gear gets you wll going. buy the nuts in bulk for cents, sell the packs for dollars, you're looking at 99% margins.
mircea_popescu: or w/e, Dee'z Nuts. have Dee the DD blondy your mascot, you can re-use all the godaddy advertising gimmicks.
mircea_popescu: then allow user to specify an image file and an address
mircea_popescu: have a website, with a selection of nut packages. some serving sizes of peanuts, pistachios, whatever.
mircea_popescu: sooo... here's an idea for a consumer company : dropship nuts.
mircea_popescu: like the non-dumb politician, or the well read pundit, or so forth.
mircea_popescu: we wish the dukes and counts the best of luck in aleppo, and we move on to more important matters.
mircea_popescu: that's traditionally where these grand adventures against abstractions predicated on a shortage of currency traditionally started
mircea_popescu: pete_dushenski because without saudis their whole southern flank collapses, and that's how they had a famine in leningrad last time.