189900+ entries in 0.065s
mircea_popescu: anyway, im taking the local devs out for a breakfast hackathon. bbl.
mircea_popescu: but basically... it never occured to me that in point of fact bitbet's minimum acts as a tax. and a lot of other things in here never occured to me. i'm still reeling over the whole pile.
mircea_popescu: might be why the "2 btc minimum on sports bets" thing introduced last year nigh on killed sports. that may need to be taken off.
mircea_popescu: basically this might be one of those situations where regulation is a loser.
mircea_popescu: now it's just 0.01, which means we suck the meaning out of a cent. if minimum becomes 0.1, we suck the meaning out of ten cents. which may be too much,
mircea_popescu: kakobrekla the problem i see is this : forcing bets removes their signalling capacity. if i increase the minimum i just remove meaning from money.
mircea_popescu: like 1/x -4 is entirely a different thing from 1/x +4.
mircea_popescu: right because there's a fundamental difference between equations that come out positive and equations that come out negative.
mircea_popescu: yeah, they're into this for the money, except they only want to make money by going long. shorts are bad mkay.
mircea_popescu: punkman so i guess now we find out that "those were fictive" ^H^H^H^H^H^H ppls really believe in teh technologee.
mircea_popescu: and this is not (one of the) tor deanonymization tricks.
mircea_popescu: yes, were that to be the case it would easy to be confused.
mircea_popescu: anyway. it just amused me as a case of "bug shaped man confused that the future doesn't seem to belong to him."
mircea_popescu: because you know, bitcoin is not backed by lulz and drama anymoar. it's backed by inept pencildicks in pretendsuits.
mircea_popescu: asciilifeform one of the people killed in my recent drawing.
mircea_popescu: it would seem the "popular mechanics" interpretation of the internet in the common mind (which is what everyone no matter how brilliant in selected fields reverts to anwyay, in a process we call "the memory hole effect") is something like "the internet is an implementation of god - and a god that cares at that".
mircea_popescu: mkay, /me has had enough of this poorly sourcing of material. srsly, buncha quotes to tardipedia ? none to actual source material ? mmmkay.
mircea_popescu: "Getting the Good Authority In the old days, competition kept Authorities in line. For example, in The Merchant of Venice, Shylock is trying to get a contract enforced by an Authority:" << heh, look at that.
mircea_popescu: "Ultimately, as Bitcoin takes over the internet, all non-Bitcoin projects (of any kind) will be treated with the ridicule afforded a US resident who tries to pay for his milk with Japanese yen. Eventually, interest in using a non-Bitcoin will fall to zero. Altcoins, even somehow-useful ones, don’t have a future." << and the proper link for this is, of course,
http://trilema.com/2014/the-woes-of-altcoin-or-why-there-i mircea_popescu: anyway, the amusing thing if one actually reads the above linked thing is that the proponent of truthcoin objects that ethereum bets won't work because they're not bitbet. which is a correct point, but leaves him in the lurch.
mircea_popescu: what if hollywood never existed altogether and i wouldn't have to explain to sane people from the future why the fuck exactly is it that every woman in every film has a permanently affixed bedspread righ above her tits for some reason ?
mircea_popescu: what of all good films that never happened because that shit existed, and who pays for the damage britney spears did to music ?
mircea_popescu: what if we don't fucking want to buy bullshit lucas crap at any price, and what if we would gladly pay for that crap to not even have the possibiklity to exist ?
mircea_popescu: similarly, all sorts of derps on "bitfinex" and assorted scum are currently booking imaginary bitcoins they "will get in the future". except they don't, but their losses aren't of bitcoin, they're losses of "bitcoin",
mircea_popescu: and the "MtGox-failure, a failure that itself resulted in the loss of 6% of the circulating Bitcoin money supply." verbiage is particularly ill advised. the bitcoin mtgox lost never circulated for the most part, in that they were imaginary.
mircea_popescu: ;;later tell psztorc "BetsOfBitcoin Also old, yet closed Mysteriously. Funds stolen or missing. " << nothing mysterious about it. back in 2012 inaba was pushing the bfl scam, had a deal with the various "bet site operators" to allow bets on bfl delivery and then anull if it doesn't deliver. betsofbitcoin went for it, got called out for it, was dead after that.
https://bitbet.us/bet/7/bfl-will-deliver-asic-devices-befor mircea_popescu: pete_dushenski> and even after that they're unlikely to lead a project << maybe we'll allow your argument re civilised places. but in the us specifically, none of the stuff you discuss ever happens.
mircea_popescu: and yes, /me grew up in a world without glasses. or divorce.
mircea_popescu: "For millennia, there was suffering and misery. Can you imagine a world without music, or eyeglasses, or DayQuil?" << wut is dayquil ?
mircea_popescu: THAT's not betting. it's just like college ponzi, a scamatron.
mircea_popescu: "stole". you're an idea guy, correct ? how can you be stolen from ?
mircea_popescu: of which i mostly know because some derps on reddit kept being butthurt at bitbet existing or somesuch.
mircea_popescu: !v assbot:mircea_popescu.rate.psztorc.1:d864f2f84f1203a928a97576d8edb2bc1231e49eb6b35d20b368ed1070206df2
mircea_popescu: !rate psztorc 1 Has no idea what post-structuralism is. Just like everyone else.
mircea_popescu: well what do you want me to do. they don't, per se, have a liquidity problem, not being the sort of thing that may have a liquidityy problem. they simply have no relation to liquidity whatsoever.
mircea_popescu: how about you get registered in assbot so i can give you a rating so i don't have to keep doing the upping.
mircea_popescu: didn't help them, especially once they didn't have the capital.
mircea_popescu: understand : rules are generally powerless. the soviets had rules about how capital should be allocated.
mircea_popescu: im not entirely sure what "market scoring rules" are. but by the excel reference i vaguely expect a bayesian atrocity.
mircea_popescu: you know, the abbreviation happens to already have a meaning, in the space.
mircea_popescu: ie, your attempt to get fatties laid already suffers from the "wide area low height" problem. putting a coin on top of this is just crushing it into oblivion, and going exactly tyhe opposite directionm of solving it.
mircea_popescu: all this in an attempt to solve poorly an already solved problem (solved by centralization).
mircea_popescu: this is not a question, it is a statement of fact. counterintuitively, perhaps (not sure why, but this only happens to some people), your addition of a coin to the problem has in fact worsened your efficiency, by introducing a significant friction factor.
mircea_popescu: unlike in my example, where i scrubbed off all incidentals that may hide the matter.
mircea_popescu: understand, the scenario is in no sense astonishing or at all unlikely. the scenario repeats itself 100% of the time in your model, just, you're not usually well instrumented to notice this.
mircea_popescu: so your liquidity has a problem in simply materializing from the, if you'll excuse the pun, the ether ?
mircea_popescu: there's not gonna be any sort of solar eclipse tomorrow.
mircea_popescu: where will ten billion coins spring for to liquidate my position ?
mircea_popescu: and i expect to see fair liquidity. say 10k to 1 against me.