246600+ entries in 1.775s
HeySteve: "This week, SingleHop engineers noticed an increase in the number of customers reporting compromised servers. As we investigated these reports, we were able to identify
a common malicious software program installed on many of the compromised servers. The malware is specifically designed to siphon the server’s computing power into mining bitcoins. This has been
a growing trend throughout
fluffypony: mircea_popescu: the guy that's starting
a UK exchange because there "isn't one"
fluffypony: Banka de Fluffy has
a certain ring to it
bounce was thinking it'd be useful to have
a fiat bank connect various exchanges
bounce wonders how hard it is to set up
a bank and have it talk to other banks
fluffypony: Naphex: and
a noose around his neck and
a limit on his frappuccinos
MrWDunne: Naphex: Better have
a professional do it than myself
Naphex: which for
a bitcoin exchange, i doubt its going to be enough
Naphex: you're relianing on
a lot of outsourcing
bounce: fluffypony: just scanned
a bit, but we need less AML, not more. so if the rules allow for this, that's positive.
MrWDunne: Naphex: No that would be unwise, I will have
a professional do that, and learn from him as we go along
jurov: wut "SEPA incurs
a 3% hidden cost + £15"? I wouldn't touch such scumbag banks with dry pole
MrWDunne: Naphex; More details will emerge on that, its
a hard one to explain.
MrWDunne: Punkman: two bank accounts known to be for
a bitcoin exchange, with the bank explicitly saying that is okay for us to use.
MrWDunne: Of course, as I said don't quote me on C++ I just know its not
a PHP trade engine
Naphex: so it depends
a lot on what the tradeengine is going to do
MrWDunne: Also the actual business plan is
a 25 page PDF, but it has details about an additional project planned to launch in
a year. And Naphex: yes we certainly do.
Naphex: do you have
a contract with the development team? too keep extending/bugfixing after release?
fluffypony: tbh, an exchange is
a REALLY tough sell given the regulatory hurdles and the track record of many past exchanges (gox etc.) - you're going to need
a far more fleshed out business plan and
a LOT of details about how you're overcoming the technical and legal challenges (and about how you calculate your fundraising requirements)
MrWDunne: Scalable, however it should be find for
a very long time on one high powered server
MrWDunne: Anyhow, I have to leave in about 10 minutes to visit another bank (looking to get additional accounts for redundancy). If you have
a few questions you want me to get
a proper answer to just put them here and I'll get an answer as soon as possible
MrWDunne: I know as
a matter of fact its not just PHP fluffy
MrWDunne: The third party is doing that as they go, but prior to launch we are paying for
a full security audit of the code. Also the person who referred us knows them personally, and its an interesting project.
MrWDunne: We have
a third party developing it, we were referred by someone else
BingoBoingo: "I've heard this Country song,
a thousand times before. Heard it all my life. Sung by different people."
MrWDunne: Hey Naphex , apparently you will have
a lot of technical questions for me. UK bitcoin exchange, with UK banking
MrWDunne: BingoBoingo: In future we will be moving to another exchange - post launch. However I will happily provide ID to
a trusted member of the community in order to verify who I am - and I am willing to meet people IRL
MrWDunne: The main thing that doomed UK ventures was the banks not knowing what they were doing, also if we sell 10,000 shares at the second tier rate (once software + servers are ready) we will have enough to take on
a compliance officer from the getgo
MrWDunne: BingoBoingo: Our financial adviser worker at
a high street bank for 25 years. He knows several people who will work in compliance once we have the volume to support them.
fluffypony: probably
a bunch of other things Naphex can ask
MrWDunne: We're having
a KYC/AML policy not to be legal, we don't have to do it to be legal. But to keep the bank account.
fluffypony: so there seems to be
a lack of technical details about how you'll accomplish this (and Bitcoin is generally
a technical audience, investors doubly so)
fluffypony: (they have
a sliding fee scale dependent on volume)
Diablo-D3: glbse was
a STOCK exchange, not
a forex.
BingoBoingo: GLBSE was
a UK exchange, and that killed it along with the operator not taking it seriosly enough until it was too late
fluffypony: ok so if you're key differentiator is that you have
a UK bank account, maybe that needs to be specified in your proposal
BingoBoingo: Let us not forget Intersango was
a UK exchange
MrWDunne: SEPA incurs
a 3% hidden cost + £15. Also in the UK it doesn't normally take
a day for
a SEPA, more like 3.
fluffypony: well SEPA to Kraken is same day, SEPA to BitStamp is
a day at most
MrWDunne: They have
a polish bank account
MrWDunne: Its banking is in mainland Europe, we have
a UK bank
HeySteve: this place is becoming
a real Dragon's Den, I'm thinking of writing something to that effect
MrWDunne: FluffyPony I have sent you
a tip for giving me
a voice
ozbot: [XCP] IPO announcement. DunneCapital LTD - UK bitcoin exchange and
a casino
HeySteve: it's
a bit pricy but the low weight is
a plus
fluffypony: I looked at that little honda
a while ago, I should actually just get it
HeySteve: fluffypony, I recommend
a portable Honda generator like the EU20i
fluffypony: feeling so left out without
a title amongst all the Mr's and Dr's
fluffypony: I loved the comment by theMiracle - "Protip 4 U 2: Take it slow. Start off by snagging
a few extra newspapers from
a vending machine when u pay for one. Practice stealing rolls of toilet paper from public restrooms. Get the hang of the basics -- then you can come back to looting bitcoiners."
decimation: one can see
a business opportunity: summarize the gazette in
a trustworthy manner, like
a monk-scribe and not like
a "journalist"
decimation: presuming that only %46 of Americans can qualify for
a mortgage, it seems likely that
a subset of that %46 will end up owning %100 of the homes
decimation: The CFED calls these folks ?liquid asset poor,? and its report finds that 44% of Americans are living with less than $5,887 in savings for
a family of four. The plight of these folks is compounded by the fact that the recession ravaged many Americans? credit scores to the point that now 56% percent of us have subprime credit.
benkay: in one way or another i've been standing by and squirting grease on the thing since i was
a bairn.
decimation: heh well that's
a plan I guess. It's honest work at least, keeping the internet goblins at bay
benkay: decimation: if i burn all my bridges here, i'm moving up to seattle and working in the server mines for
a year to reestablish my capital base.
decimation: I suspect
a large crash would signal another leg up for bitcoin though
decimation: re: amazon, I've heard it's
a tough life working there. Look at the glassdoor reviews: they cheapskate on everything. Yeah, the salary is okay, but you better enjoy being on call
decimation: In the first quarter of 2014, mortgage originations at Citigroup Inc. (NYSE/C) declined 71% from the same period
a year ago. The bank issued $5.2 billion in mortgages in the first quarter of 2014, compared to $8.3 billion in the previous quarter and $18.0 billion in the first quarter of 2013. (Source: Citigroup Inc. web site, last accessed April 14, 2014.)
benkay:
a) i don't actually troll.
benkay: BingoBoingo:
a few reasons.
benkay: BingoBoingo: what, you want me to perpetuate the mystery in
a blog post or three? ;)
benkay: ;;rate decimation 1
a fellow, i reckon.
BingoBoingo: Mysteries I want in
a blog post, Benkay, why did you ever stop trolling me after my return to -assets
benkay: BingoBoingo: couldn't say i'm
a rebel cascadian hiding in the hills
BingoBoingo: asciilifeform: If you want
a shortcut to understanding baseball the 2011 world series game six and 2012 StL vs. Washington NLDS game five paired with the 2013 NLCS makes
a nice summary of the entire contemporary game
BingoBoingo: By Italy I mean classic Italy, anyone born more than two barns from you and your goats is
a foreigner
BingoBoingo: asciilifeform: Reminds me of
a conundrum. Every US Infantry officer gets the chance at ranger school after graduation, but many officers deployed to ostentiably infantry assignments will not be infantry officers.
BingoBoingo: Otherwise we could suppose infinite shitty alternate artillery games where one side produces
a grunt who climbs
a hill and stabs the cannon to death.
BingoBoingo: Well,
a pitcher to get an out either has to throw three strikes or get the hitter to put the ball in
a location favorable to one of their fielders.
BingoBoingo: In chess there is
a tremendous advantage to anticipating lines your opponent might try to put forth.
BingoBoingo: Though on the same team and Albert Pujols becoming
a legend first, this is the exact machanism that made Pujols fungible with Carlos Beltran et al. while Molina was and is irreplaceable.
BingoBoingo: Normally the answer is the catcher calling pitches, as
a great catcher is
a slightly better source of entropy than the batter
BingoBoingo: asciilifeform: Well I mentioned this in another post, but it goes back to baseball. Who carries half of
a ptcher's success and why?
BingoBoingo: mircea_popescu: Prolly. Cake comes and goes. I might hammer out consistent gains, but probably never again over
a bid-ask pread of 4 times
BingoBoingo: He invested little. It seemed to be
a small portion of his anything.
BingoBoingo: Next thing you know I will forsake N.W.
A. for Sheryl Crow
BingoBoingo: The only people IRL on OL with similar issues were notorious epileptics so I guess being more functional than that is
a plus.
BingoBoingo: I also throw
a bowling ball with alternating hands given situations favorable to one side or the other's strengths
BingoBoingo: In practice this works great for watching porn because different halves of my brain can be watching porn vs. jacking me off,
a perfect stranger
BingoBoingo: I have an admitedly odd neurology. I throw
a baseball right handed but have to shoot the rifle left handed.
BingoBoingo: Parkinsons is more
a D-1 and D-3 thing though.
BingoBoingo: asciilifeform: Back when 23andme made medical declarations I spit in
a tube. Apparently I am part
A-Rab