220800+ entries in 1.779s
hanbot: mircea_popescu that looks just about right. not too often
a bizarre facet of human behavior looks exactly as one'd imagined.
nubbins`: I asked Dirty Mark where he got the name from: “I dunno, probably because I’ve fucked
a lot of bitches without condoms and I may shit my pants from time to time.”
nubbins`: turns out jesus was
a pilot who flew into
a time warp
nubbins`:
a man who eats meat wants to get his teeth into something;
a man who does not eat meat wants to get his teeth into something else
mircea_popescu: nubbins` in some places the crag cat is
a real danger to human life
mircea_popescu: it's not
a chasing predator. it lies in wait normally.
ThickAsThieves: ok but the cat is
a predator, isnt its instinct to chase?
mircea_popescu: ThickAsThieves ever seen
a cat when something moves irregularly ?
TheInterocitor:
A fool and his money I suppose. Any money I make in alts just goes to btc. I have little interest in survival of them.
TheInterocitor: btw mircea_popescu I used one of your blog posts as
a STFU in an argument the other day
mircea_popescu: so im playing this tablet game. it has
a slots implementation, giving some in game benefits. i turned 2k chips into 85150, and it will never end.
nubbins`: they let funds delist whenever they please, converting "shares" into "we'll send you
a slip of paper"
ThickAsThieves: good point, it was very much
a junk food experience too
mircea_popescu: lemme tell you how. i build
a number of businesses in btc that relied on not dealing with idiots. they're still here, and worth whatever hundred million.
mircea_popescu: man. suppose you're the sort of klutz that thinks "chicago is cool". i then knowing you think this sell you
a house in "chicago" fgor
a price twhich reflects your expectation, but in
a location that satisfies my cost structure.
BlueMeanie4: and then the price to take out
a mortgage for people in chicago goes up
BlueMeanie4: ok lets say you think chicago is
a horrible investment
BlueMeanie4: maybe i personally know that lets say romania is
a great investment
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
mircea_popescu: every now and again
a smarmy da walks into
a smart judge's chambers with something about "
a standard deal" and the judge tells him there's no such thing as "standard deals"
mircea_popescu: BlueMeanie4 he sells expensive artwork and shit. not
a very good angle there.
mircea_popescu: BlueMeanie4 if i cared what i looked like i'd actually be
a cult leader.
mircea_popescu: it's not
a pretty place to live in. even if you do have the ever present, ever oversold hope you will somehow "create immense value" and run off to live in argentina.
BlueMeanie4: this seems to be
a tactic you use to avoid addressing either your lack of information on
a subject or you willingness to accept various facts
mircea_popescu: that's how you ended up with "books" being the shittiest thing people will still take as
a book, in
a neat little package
assbot: Grandma's Sitting in the Corner With
a Penis in Her Hand Going "No, No, No, No, No" - The Frogs - YouTube
BlueMeanie4: well if i want to say take out
a put or o call
mircea_popescu: maximizing the market is not
a valid goal of economics any more than maximizing body weight is not
a valid goal of medicine.
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.
mircea_popescu: this is like, bitcoin will fuck it up the ass with
a steel girder and everyone has
a short and vanishing opportunity to change sides.
mircea_popescu: nobody here gives
a shit, and unless you change your mind you'll be force-marrying some english speaking brute.
X-Rob: So I'm digging
a trench to bypass it
X-Rob: and I have
a nice smokey looking circuit breaker
BlueMeanie4: say you had
a million dollars in outstanding collections
X-Rob: mircea_popescu: Power issues. Will be off for possibly
a couple more hours. Will pro-rata
a discount at current estimated
mircea_popescu: but one point is important : the world you know has failed. this will require
a pound of flesh out of everyone involved. whether it comes in the form of the intellectual humiliation where you say "we were wrong and the actual voodoo people at the table" and move on, or the actual physical humiliation that goes with being on the defeated side...
mircea_popescu: these "financial markets" aren't
a single thing, and they only work as you describe them when they don't actually work.
mircea_popescu: this is fine, but it's
a little silly to push that argument of familiarity too far.
mircea_popescu: so look : you can sit in
a car, and derive from the experiene of sitting there some idea as to how the car works.
BlueMeanie4:
a 20 egg note is not worth 20 eggs, yes, it's up to the debtor to MAKE them worth 20 eggs. see how this works?
mircea_popescu: so no, it's not
a thing equal to another thing, and they discount each other.
BlueMeanie4: ThickAsTheives- actually those kind of collection notes have
a market
nubbins`: came across
a Bank of Montreal $20 bill
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: you are making
a mistake jpm warned against. allow me to quote the old gentleman.
mircea_popescu: now, you're more welcome to get burned
a few times if you won't listen and feel entitled to call things sophistry.
BlueMeanie4: this sophistry doesnt work on me. its pretty simple really. if i hold
a note that says YOU OWE ME TWENTY EGGS
BlueMeanie4: no it isn't - quite the opposite using gold or other commodities for money were
a feature of primitive societies- you seem to have it backward
BlueMeanie4: theres nothing wrong with securitization, it's just like debt based money-
a school of morons believes it is evil by some undefined ethos
b00lcrap: well they tell me its
a sinking shit
BlueMeanie4: while thats
a valid point, i dont think they failed BECAUSE of securitization altough these new methods did destablize
BlueMeanie4: i can write
a contract lets say
a futures contract right?
BlueMeanie4: it means turning risk into
a monetized resource
mircea_popescu: but the reason you can't is because that's
a fucktarded system made by lazy apes that doesn't work
BlueMeanie4: thats
a fairly specious and somewhat annoying response
mircea_popescu: "i order
a dildo and
a box of cookies in the same shop. are they worth the same ?"
hanbot: thestringpuller: hanbot: was that
a goodfella's reference? << yepper.
BlueMeanie4: well you WOT is one-dimensional. say you were to describe what the credit is FOR, ie. you want to finance
a software project. then your market opens up, there are investors out there who invest in such things.
BlueMeanie4: example I want to make
a bond for my business
mircea_popescu: someone wants to cast
a vote in the wonderous world of finance, he'd better demonstrate either intelligence or the ability to retain counsel.
BlueMeanie4: actually our economic crisis was blamed on
a sort of security
mircea_popescu: nubbins` it's actually one of the best ways to get in the wot, fully paid future delivery contracts with someone already in. should be safe enough if dealing with
a heavyweight for both parties.
BlueMeanie4: ok i guess it would be fair to give your platform
a real vetting
mircea_popescu: we can't, because
a) you're not in the wot so no we, and b) we already have.
BlueMeanie4: we can build
a real p2p financial instruments tool
mircea_popescu: BlueMeanie4: so how do buy options/futures? << probably your best bet atm is otc. get in the wot, identify
a trustworthy cp, sign
a contract.