189900+ entries in 0.068s
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.
mircea_popescu: i really don't care what they cost. i am taking them all.
mircea_popescu: for instance : when i put 1 btc on the theory that ethereum dies by the end of the year, i got liquidated 5:1 within hours.
mircea_popescu: now, suppose i make a bet that tomorrow will be a solar eclipse.
mircea_popescu: but as to the experiment : suppose your coin exists. suppose it has a total issued volume of 1mn coins. suppose i own them all, because i'm an asshole and i buy them all.
mircea_popescu: i mean srsly nobody cares if you came up with it or clark gable did. that's not at issue. and in general "original research" is even a topic only among the wikitards. it's not a legitimate consideration.
mircea_popescu: i'm kinda puzzled why the problem is not directly obvious.
mircea_popescu: or you could keep it simple, and explain why your excel spreadsheet isn't hard at work finding boyfriends for all the very fat lonely feminists out there.
mircea_popescu: whence in the everloving fuck will you summon into existence counters for all the solo traders trading with no one ?
mircea_popescu: fiat, delta knowledge on valuation. i doubtr you'll find anyone who even will entertain the approach, within finance. but moving on :
mircea_popescu: uhm. what ungodly sort of post structuralist lacanian approach to finance is this supposed to be!
mircea_popescu: and you're like, almost there, and all i do is recite that and laugh. you're out on your ass.
mircea_popescu: suppose you're in a VC office trying to close a deal. and i drop by to take the guy out to golf.
mircea_popescu: because if i want to sink your chances, understand, all i need is to quote this and snicker.
mircea_popescu: "My design was able to solve a few other PM-problems as well. Any user can create a market about anything, removing the dual-requirement that a PM-administrator must not only be trustworthy, but also share your prediction-interests. Market scoring rule technology ensures that trading volume is irrelevant, and traders will always be able make a trade updating the price to their estimation (even if they are the only trad
mircea_popescu: ok, sure, for a given level, as long as that level is very high, they are in fact cheaper.
mircea_popescu: it's ironclad, sure. but a tank has not very good fuel economy.
mircea_popescu: the entire "bitcoin is efficient" thing is very 2010s naivete. it is anything but.
mircea_popescu: ement device is BY FAR the most expensive, cumbersome and unwieldy mechanism for settlement ever devised. it was not even feasible to contemplate before computing and major bandwidth was available.
mircea_popescu: "Although Bitcoin does not solve our PM problems, it demonstrates that a blockchain can provide scalable, censorship-resistant, and trustless solutions. Blockchain solutions also generate efficiency by cutting out middlemen and avoiding overhead costs (no brick-and-mortar, compliance, administration, etc.)." << this is miserable. what exactly is "solutions" supposed to mean ? and more importantly : the blockchain settl
mircea_popescu: the only thing "proofs" will do is make people optimize for the exam. that is all.
mircea_popescu: the notion that "proving" "solvency" which is to say, having money may somehow buy character, and on it trust.
mircea_popescu: "Before money or anything else. Money cannot buy it...Because a man I do not trust could not get money from me on all the bonds in Christendom."
mircea_popescu: anyway, the jpm thing is more important, so let's get back to that for a second. the matter was put to him, in a congressional hearing, "Is not commercial credit based primarily upon money or property?"
mircea_popescu: much to the disbelief of the entire collected "foundation" & assorted jesuses, captains of industry and whatnots.
mircea_popescu: anyway : consider that when mp said mtgox goes away, mtgox actually went away.
mircea_popescu: but no, the various hanger ons trying to insinuate themselves in bitcoin do not by this desire actually become part of the thing.
mircea_popescu: these claims must be novel. ever since they forgot to mention how shockingly little they processed for "black friday"
mircea_popescu: well, for starters, they priced bitcoin in dollars not dollars in bitcoin.