176400+ entries in 0.044s
mircea_popescu: it will happen like the collapse of the us happened : once everyone agrees it's not possibru.
mircea_popescu: it just reproduces the same generational conflict that's present in society ever since forever.
mircea_popescu: by definition. as they aren't owners, the only thing they can be is looters.
mircea_popescu: asciilifeform what's your definition of "schelling point" ? doesn't have to be immutable, does it?
mircea_popescu: nevertheless, the fact they're dumb doesn't mean the bait ain't there.
mircea_popescu: which is why all the vc bullshit that keeps missing bitcoin by a mile
mircea_popescu: the usgtards like to act as if that future point is here, because they're too enamoured of the swamp they inhabit.
mircea_popescu: in that <mircea_popescu> at some certain future point it becomes more lucrative for the owner of mining gear to "start a new bitcoin" than to continue adding to this chain.
mircea_popescu: at some certain future point it becomes more lucrative for the owner of mining gear to "start a new bitcoin" than to continue adding to this chain.
mircea_popescu: what happens to bitcoin should reward halving run into an impossibility to finance further mining ?
mircea_popescu: what happens to gold when no more mining is possible ? (as you know, gold is finite in the universe)
mircea_popescu: with bitcoin, the responsibility for keeping everyone's gold secure rests not with the owners, but with the.... miners!
mircea_popescu: consequently, depending on your efficiency, you'll be spending a coin every X interval off the hoard.
mircea_popescu: asciilifeform consider the situation : with gold, the responsibility for keeping gold secure indivisibly rests with its owner. either you build a vault and pay guards, or else you don't own it.
mircea_popescu: most of these investors can not legally keep money in local bank accounts.
mircea_popescu: (bitcoin unintelligently transformed its already minor cost into a disasters of commons situation, due to the fact that satoshi had about as much financial experience as a holywood star. but anyway.)
☟︎ mircea_popescu: unlike bitcoin, strong money of any other kind decays over time
mircea_popescu: conversely, if for whatever reason (such as horrible insecurity everywhere else in europe, while romania's sterling cannons guarantee it'll be fine), you decide to pay 106 cents for the dollar, your yiedl will be
mircea_popescu: now, if you put in 75 cents t obuy a dollar of this, at the end of the year you will be paid either nothing or 105. which means that your yield will have been (105-75)/75 ie just about 50%.
mircea_popescu: so, the guy went to place, ie sell, romanian bonds paying 5% for 75 cents to the dollar.
mircea_popescu: let's start with an example from the 1800s, on trilema : "Că d-l Grigorescu, șeful direcției contabilității din Ministerul de Finanțe, va pleca la Berlin, Viena și Frankfurt în scopul de-a plasa rentă 5 la sută română pe prețul de 75 suta ?"
mircea_popescu: seeing how the us is full of wanna-be callmakers and practically empty of actual workers doing the actual work of callmaking.
mircea_popescu: it COULD be your job to make him support materials to make the call, tho
mircea_popescu: as yhou're not the boss it is not your job to make that call.
mircea_popescu: make him a nice file, explain it all, takes you maybe 3-4 hours of your time will make him want to promote you.
mircea_popescu: can evaluate if he wants to be in it or not on his own.
mircea_popescu: it's a very low moat business. no idea how lucrative, but establishing a "stellar" reputation and pushing everyone else takes months, on account of how dumbassly undependable they all are.
mircea_popescu: PeterL anyway, dunno how close you are to management / how tolerant of redditards your strategy is, but - you could even be proactive about it. register on whatever social medias they frequent as "the lab", do some testing even on your own dime at first to establish rep,
mircea_popescu: PeterL it's a necessary next step from thinking combining people's votes yields a valuable result.
mircea_popescu: PeterL afaik anyone who's not a tard tests the first batch from a new vendor.
mircea_popescu: PeterL you could prolly make a killing doing analysis for teh "darknet" pillheads.
☟︎ mircea_popescu: "Cuccias said that Nest Cam uses 128-bit SSL encryption, Perfect Forward Secrecy and a 2048-bit RSA key that is unique to each camera. “This ensures that videos are not accessible, even over open WiFi networks. That said, customers can always see the status of their camera through the Nest app,” "
mircea_popescu: "You will probably experience a higher attempted double spend rate, for example, if selling a digital good to someone who didn't buy a device."
mircea_popescu: so the box you'd buy is putative, as you didn't buy it, and as far as the rest of the quoted is concerned ima go on a limb and guess thye had other reasons.
mircea_popescu: why would you pay 1k for something that retails for like 80 ?
mircea_popescu: i only ever liked romania, or any other place come to think of it, for that kind of reason.
mircea_popescu: you know, i suppose i'd like the us a lot more if the people running the private "scam the suckers" entreprises there were literate and spoke enlish
mircea_popescu: what are they gonna do, steal his cash and car if he drives through washington dc ?
mircea_popescu: more like, drivers leaving trucks did more damage than the enitre rest of the ops.
mircea_popescu: immanence is a kantian concept ; imminence is the state of proximity in time of a future item to the present.
mircea_popescu: In 2014 alone, US Attorneys "forfeited" $4.5 billion. This dollar amount now places federal law enforcement at the top of the list of of "People Who Take Stuff That Belongs To Others."
mircea_popescu: now i'm gonna have to go in and take dialogue down by hand ? WHAT GOOD ARE YOU INTERNETS
mircea_popescu: business will have to learn that it has to do a lot of cocksucking of btc folks.
mircea_popescu: people will sit around in the dark waiting for the cloujds to clear so they can water their farmville crops, while oil wells will sit capped and waiting for them to die out because "oil is not fashionable". this is totally happening. and it'll matter.