log☇︎
198300+ entries in 1.735s
mircea_popescu: well we all got our stories as to "what really happened". i was merely illustrating the vastness of that area.
nubbins`: BlueMeanie4: i take raw materials, add value to them, sell them. great, now i've got $x. i can put $x in the hands of walmart and buy 1kg of coffee, or i can put $x in the hands of a business owned by someone who lives here and buy 0.75kg of coffee. sure, with the first option i've got 0.25kg extra coffee, but my city has $(x-y) fewer dollars, where y is an almost-negligible sum.
BlueMeanie4: i live in a area that was heavily financed by these MBA mortgages
BlueMeanie4: i think there was a degrade in quality for some of these
ThickAsThieves: i want the "right" price
mircea_popescu: i just hope your nerves hold.
nubbins`: "i want the best price" as you head to the dollar store to buy the fifth set of pliers
nubbins`: i want the best /value/.
nubbins`: "i want the best price" is the reason why tim horton's is the number one coffee chain in canada
nubbins`: "i want the best price" is why there are five wal-marts in my city of 100k people
mircea_popescu: as it is, i'm content to merely look like one.
mircea_popescu: BlueMeanie4 if i cared what i looked like i'd actually be a cult leader.
nubbins`: "i want the best price" is why all the painted lines are worn off the road here two months after they gets sprayed on.
mircea_popescu: course i can. i can do anything i want.
BlueMeanie4: and how will i get the best price
BlueMeanie4: i want the best price
BlueMeanie4: well if i want to say take out a put or o call
BlueMeanie4: well for as long as you lack the features i describe, these contracts will have a very limited market
BlueMeanie4: some of these bitcoin people are reminiscint of the french revolution. for a few weeks they thought they could completely redesign the whole universe. I believe they wanted to change the number of days in a week.
assbot: The Frogs - I'm Sad The Goat Just Died Today - YouTube
ThickAsThieves: one thing i know about finance markets, it's no one really gets to say how they work
mircea_popescu: X-Rob and enjoiny every inch of the process i bet :D
X-Rob: So I'm digging a trench to bypass it
X-Rob: and I have a nice smokey looking circuit breaker
BlueMeanie4: you system as far as i udnerstand it does not allwo for the transfer of obligations
mircea_popescu: funny part being i said this exactly.
BlueMeanie4: i buy them for 200k
BlueMeanie4: and I was a collectoins auditor
ThickAsThieves: i was gonna say "true"
hanbot enjoyed this "debate"; i call it "let's read the convo via the logs and guess what mp's answers will be, then hit refresh and score ourselves"
mircea_popescu: and by you i mostly don't mean you personally.
BlueMeanie4: ok but i fail to see any operable ideas here
mircea_popescu: well, to round the circle : i find it unfortunate that so many otherwise intelligent fellows are so fixated on their various habituations that they refuse to adapt and become useful for the future.
BlueMeanie4: i find it unfortunate that so many are bogged down with these voodoo economic ideas when they should be building better machinery to deliver real functions
BlueMeanie4: i have a few actually
BlueMeanie4: well i dont really bear the burden of proof, these are facts of financial markets as they exist
mircea_popescu: i see how you think it works.
mircea_popescu: who i am and what eggs are comes before any numerical consideration of value.
mircea_popescu: Morgan: "Before money or property 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: depends who i am and what eggs are.
BlueMeanie4: this sophistry doesnt work on me. its pretty simple really. if i hold a note that says YOU OWE ME TWENTY EGGS
mircea_popescu: hey, what can i tell you.
BlueMeanie4: i guess you get to be right until bitcoin fails?
b00lcrap: well that is reassuring. cuz i have many hungry mouths to feed
gribble: Why Too Much Money is Worse than Too Little | OPEN Forum: <http://www.openforum.com/articles/why-too-much-money-is-worse-than-too-little-1/>; Why Too Much Money Is Bad for a Startup | Inc.com: <http://www.inc.com/magazine/201404/elain-pofeldt/too-much-startup-funding-causes-problems.html>; 'If I Think About My Money Problems Too Much, I'll Miss My Babies ...: (1 more message)
nubbins`: i like that phrase
b00lcrap: i dont think we have officially met.
BlueMeanie4: while thats a valid point, i dont think they failed BECAUSE of securitization altough these new methods did destablize
BlueMeanie4: and the default collateral i can put on the market
BlueMeanie4: i can make that futures contract
BlueMeanie4: but can i resell that risk?
BlueMeanie4: i give you 10 beans on christmas day 2015
BlueMeanie4: i can write a contract lets say a futures contract right?
mircea_popescu: i do. the problem is that you'd like for shorthand that's accepted in an old, meanwhile abandoned system to work unioversally.
mircea_popescu: which is why you're here, and which is why i'm not on ws.
BlueMeanie4: but its EASIER to market it if i can catalogue by risk class
BlueMeanie4: right i want to knwo what im buying
BlueMeanie4: yes i would buy one mortgage risk and not the other
mircea_popescu: and yes, i would say that they are equally likely to be delivered.
mircea_popescu: "i order a dildo and a box of cookies in the same shop. are they worth the same ?"
BlueMeanie4: i make two mortgages
mircea_popescu: sorry google, i take it back. my bad.
mircea_popescu: BlueMeanie4 i don't think you understand hw it works.
jborkl: Mircea, if I need credit for the next 3 days will my WOT suffice?
BlueMeanie4: example I want to make a bond for my business
BlueMeanie4: well part of the problem here is how to catalog the *offerings* for these instrumetns so I can easily invest or market them
BlueMeanie4: ya i knew a bit about you
thestringpuller: now i can get fat
mircea_popescu: asciilifeform actually i was thinking of http://trilema.com/2012/gpg-contracts/#comment-102651
asciilifeform: mircea_popescu: http://polimedia.us/trilema/2013/in-which-we-discuss-datskovskiys-discussion-of-mpex << here i think
BlueMeanie4: i think IRC might be limited in key ways for this purpose
BlueMeanie4: ok i guess it would be fair to give your platform a real vetting
mircea_popescu: i think that was "the average" not "the mean"
asciilifeform: im just not excited about anything i see << constant state of excitement is a medical condition, doctors say 'priapism' and it is curable. be glad you aren't 'excited' at all times.
mircea_popescu: idiots. well, ignore exists for a reason i guess.
asciilifeform: i think we all got sp4mz0r3d
BlueMeanie4: i dont know im just not excited about anything i see
assbot: How I was wrong : Cuckolding, or a story about sigmas pe Trilema - Un blog de Mircea Popescu.
mircea_popescu: meanwhile at the trilema ranch of feminist pain, http://trilema.com/2014/how-i-was-wrong-cuckolding-or-a-story-about-sigmas/#comment-106375
mircea_popescu: i wonder if there's a fetish where the guy wants to eat out girls that have priorly masturbated with pizza rolls
mircea_popescu: nubbins` see what you've doneoid ? i hope you're happyoid nao.
mircea_popescu: "no ty, i have my own altoids"
ThickAsThieves: i can feel my heart beat
mircea_popescu: this should totally be a thing. "honey, i'm a virginoid."
nubbins`: i, uh. wait
ThickAsThieves: i heard you wanted to have children
mircea_popescu: From: Ana Samaniego Sent: Saturday, August 23, 2014 4:24 PM Subject: Hello I NEED YOUR PARTNERSHIP OF $49.5 MILLION USD. E-MAIL: jmorrow147@rogers.com
nubbins`: i was very nonplussed upon realizing this
nubbins`: today, i find out i've been using this word incorrectly since childhood
nubbins`: i always thought the word "factoid" was a direct analogue of the phrase "useless trivia"
hanbot: ;;later tell BingoBoingo Is it just me or does hanbot blog with an unstated anger and foreboding that seldom comes through in mircea_popescu posts because mircea_popescu need not give a fuck << you sayin' i give too many fucks? is that what you're sayin'? like what, like i'm an angry foreboder, here to amuse you?!
thestringpuller: ;;later tell guevara246 this is a problem I was working on. even with a single sig a timelocked transaction can be double spent if it another valid transaction is broadcasted and accepted before the timelock expires the original transaction becomes expired
fluffypony: I mean such typo
fluffypony: I mean
guevara246: Hey, I have a question regarding P2SH and timelocked transactions: in a use case where a client is purchasing a good or service using a 2 of 3 multisig scheme, can a timelocked transaction be broadcast to the network and invalidated by a second transaction, signed by the same agents, sending outputs to a different address?
mircea_popescu: an' with that, i'll be off to meet people and things. later dear chan!
chetty: I once worked in an office where one of the guys painted windows on the walls ...
Apocalyptic: <BingoBoingo> Apocalyptic: This is why I use booze to keep my brain supple // how well does that work ?
BingoBoingo: Apocalyptic: This is why I use booze to keep my brain supple
BlueMeanie4: i guess ill try to be more concise. Mirceau's blog makes me want to learn Romanian.