190000+ entries in 0.039s
mircea_popescu: you don't think walmart is a tide business for instance, do you ?
mircea_popescu: the proposition that mtgox was a bitcoin business is tenuous.
mircea_popescu: (do you happen to be familiar with the exchange i'm referencing there ?)
mircea_popescu: "Although businesses can prove their solvency, proof of future-solvency is impossible, and even solvent Bitcoin PM-businesses would be able to steal funds by trading on and then reporting incorrect prediction outcomes." << this is a feckless misstatement of the situation. a centralized business is predicated on the trustworthyness of its living owner. whose word is, to repurpose a JPM quote, "worth more than all the bo
mircea_popescu: now, feel free to generalize on the remainder 10%, but it is not unlike saying "men are evil and should be locked up".
mircea_popescu: together these make up a good 90% of bitcoin busiensses.
mircea_popescu: "The Bitcoin businesses that oppose this intent by holding customer funds (for example the currency exchanges) lose those funds regularly." << except mpex never did. and bitbet never did. and so on.
mircea_popescu: as the saying goes around here, you might not be interested in fungibility, but that doesn't prevent it from being interested in you.
mircea_popescu: this is why money is important, this annullment of a perceived difference.
mircea_popescu: whether each pays his own each time in silence, or you buy one round and he buys another round is nil.
mircea_popescu: and thje best example to verify this is, a situation where you and another guy sit in a bar for the space it takes to drink two drafts each.
mircea_popescu: im sorry. the DIFFERENCE between the two situations is imaginary is what i mean.
mircea_popescu: there's nothing magical about money being "your own". the situation where you own house A, and live in house B which is identical but you rent ; and the situation where you own house A and live in house A is imaginary.
mircea_popescu: i disagree with the notion that whether bitcoin was designed for people to hold own money or opm follows from bitcoin being p2p ; that there is a way to differentiate between opm and yom. and other things
mircea_popescu: or at least shore it up past the nude declaratory thing ?
mircea_popescu: "Bitcoin is P2P software. It was not ever designed for other people to store your money; it was designed for you to store your own money." << can you prove this ?
mircea_popescu: "i once got formed an idea while in front of the tv ergo tv has a gift" ?
mircea_popescu: ok, indulge me. give me an example of an idea that was so communicated by television.
mircea_popescu: " Television has a gift for simplifying and communicating ideas" << o lordy.
mircea_popescu: but leaving aside the entire "prediction market" thing, lemme try and find the actual coin discussion.
mircea_popescu: none of this stands to actual scrutiny, but hey, peopel got enamoured with whatever that irish thing was called, and it got to die a hero's death so we'll hear about it like we wouldn't have heard if it just died naturally.
mircea_popescu: info-sources in a way that is consistently and unanimously acceptable." << like that.
mircea_popescu: "When anyone can trade, no source of information is overlooked, and market forces balance
mircea_popescu: careful what and whom you steal from, lest you get poisoned.
mircea_popescu: you're perhaps unfamiliar with the saying "traduttore, traditore".
mircea_popescu: "The current market price of these tradable predictions can then be interpreted as the likelihood of the prediction coming true." << because, why ?
mircea_popescu: suppose i read this in 3030, at which point no fucking body knows what $ is, and we decide it stands for "trustcoin"
mircea_popescu: why would it be a magic number and why would the number reference an undefined concept.
mircea_popescu: ""Whereas a stock market is a place to buy and sell shares of a corporation’s earnings, a Prediction Market (PM) is a place to buy and sell predictions. Valid predictions entitle their owner to $11"" << this, foir the record, is horrible writing. do not mix things so far apart the abstraction scale, it confuses idiots and it gives smart people the impression your abstractor really has very little breadth.
mircea_popescu: the question is whether the animal so obtained will quack.
mircea_popescu: in any case, the question here isn't whether you could stuff the heart of an ox, the guts of a pig and the lungs of a horse inside the skin of a skinned goose.
mircea_popescu: but you will notice you downloading porn and the functioning of a market are unrelated.
mircea_popescu: "What if you had access to the combined intellectual powers of all mankind? It would be easier for you to make decisions." << you know, not only this does not follow, but the contrary is actually recorded as anecdotal observation by pretty much all sources. like say russell.
mircea_popescu: gernika a) would you agree that the superset of this inquiry is the bbs and b) would you say it meets definitions of either "forum" or "decentralized" as you use them ?
mircea_popescu: (clearing, obviously, is a term of art, in finance. it's the process whereby definite items are recognized by others. very similar to the function of a torens title registrar, or the births book, or the military despatches.)
mircea_popescu: ok. it's for clearing risk in a centrally-controlled environment.
mircea_popescu: well bitbet is plainly a central market for clearing risk.
mircea_popescu: but in the original terms. "in Truthcoin the operations performed are almost exactly the same as existing Bitcoin transactions".
mircea_popescu: to take a step out of the purest theory closer t oactual practice.
mircea_popescu: in this sense, "the earth centralizes the imago-es of all astral bodies, as their light projection". nevertheless, the earth is not a black hole.
mircea_popescu: but the "meet" in "market" has a different intension from "meet" as in "sql join".
mircea_popescu: this, incidentally, is why it actually is trustless. but also why it's irreversible.
mircea_popescu: depends where you're taking it. this could perhaps be said.
mircea_popescu: dja know of any example from nature where something like that happens ?
mircea_popescu: this argument is not even apparent if people were spherical cows in a vacuum. but as people are, it's impossible to obtain an outcome by opposite process.
mircea_popescu: well no. the fundamental problem is that the function of a market is to centralize trade. decentralized market is like cool boiler.
mircea_popescu: jesus reddit is retarded. omg not even wrong where to even start /me abandons the entire thread.
mircea_popescu: you understand the fundamental problem with trying to create a "decentralized market" do you ?
mircea_popescu: "Truthcoin is my ambitious project to create a trustless P2P prediction-marketplace. This is possible because, unlike most marketplaces, the end product of a prediction market (PM) is information. "
mircea_popescu: recommended reading for asciilifeform just because i know he's a livresque masochist.
mircea_popescu: "certain elements" are "attacking" the re-ripple thing by pointing out that it's stupid and pointless. TO THE BARRICADES!1
mircea_popescu: lkol wait. 21 thing won't accept btc for its "product" ?
mircea_popescu: kinda been degrading tho, curious if there's the required 1-200 btc left in the eth cheerleader camp to get it back on target.
mircea_popescu: interestingly enough, poloniex lost its 50% eth trading marketshare. now #3, #1 being something "gatecoin"
mircea_popescu: that's 100% of psycho, and most of nonspeciffic pain (which only exists because gps wanted a loophole to prescripe medocal social security to healthy men) and then "old age/shit habits" diseases. like some arthitis types (aka gout)./
mircea_popescu: one of the most lucrative and so often targetted by pharma spaces is where doctors go "dunno, let's try this. and that. and then see."
mircea_popescu: <BingoBoingo> But even now those things are going from treatments for the rare and debilitating to treatments for the common and hammy << exactl;y, and these two go together. we're now at the point where "important" vaccines for purely imaginary conditions are being pushed out. srsly, some people get nonspecific pain from what may be a viral infection ?
mircea_popescu: <asciilifeform> but the 'research' is not happening. << this is a point.
mircea_popescu: asciilifeform> why this particular schmuck was chosen as the whipping boy of the day << was in the news recently, '87 born catamite of "tiger fund" gonzo increased price of some shitty expired patent medicine nobody else was manufacturing because us is as springy as a dead halibut.