254700+ entries in 0.055s
mircea_popescu: in point of fact, the industrial revolution was started by, and driven by, the textile industry.
mircea_popescu: guess what : mining is a marginal business as it is, and exactly the problems that ruined the western textile industry in your parent's lifetime can and will, if given a chance, ruin bitconi.,
mircea_popescu: but the notion that mining will still work no matter how badly the incentive structure gets ruined, because somehow mining is a god given gift / universal service obligation of nature to man doesn't.
mircea_popescu: somehow the idea that you can get "just as good food and service" no matter how cheap a restaurant meal gets, like say a cent, or 1/1000th of a cent, is directly stupid to people.
mircea_popescu: and that doesn't actually even begin to address the (unrelated) problem with "infinite blocks", which is market destruction out and out.
mircea_popescu: davout: justusranvier: in your article you shouldn't be reasoning on the cost of including a transaction in a block as (cost of one block / number of transactions) but you should reason on the marginal cost of adding a transaction to an already existing block that i'm currently mining << quite
mircea_popescu: davout: MAH HARICUT IS SIKRIT BZNS << honestly i had no idea it's a haircut. i had imagined it's simply whatever's left once the neighbours are done cutting their hedges.
mircea_popescu: ben_vulpes: contains "fix issue" buttons << lol this sounds like early chinese factory automation
mircea_popescu: and by the time it's out of cycles, that drive has seen petabytes worth of traffic. the cost of 1 petabyte of pipe exceeds the cost of the drive many times over
mircea_popescu: shitty turdware in the chip more likely to be the culprit in any case.
mircea_popescu: no, srsly, kakobrekla has it. i've seen more controller failures than anything. actually out of cycles deaths are so rare i don't recall one.
mircea_popescu: ahahaha wait, wait. so gavin actually sprouted the ninjashogun line re b-a "conversation quality" ?!
mircea_popescu: it's not likely to make a difference mats. hdds are hceap enough.
mircea_popescu: ben_vulpes: i can't spot *every* scam << o wow, do we get the sad, blood splattered, tear imbibed story of it ?
mircea_popescu: where are the retarded bois going to mix cvasi azure with moss green and gold!
mircea_popescu: hory shit it's going to be th ecase nobody actually wants a PROPER web page ?!
mircea_popescu: Adlai there are jsons. i am thinking about putting a job up for site-ification of those outputs.
mircea_popescu: asciilifeform you know that scammer creativity analysis actually sounds very like soviet police doctrine, on meditation. didja get it out of some book ?
mircea_popescu: an usg education is an economic substitute of an actual education, and margerine is an economic substitute for butter.
mircea_popescu: asciilifeform: Pierre_Rochard: there is nothing, and good reason to think there cannot be, anything which even rises to the level of an ersatz. << in economics, substitute is a functional substitute not a logical substitute. in this sense, your feet are a substitute for a train.
mircea_popescu: so you're spending 100 cakes per loaf of bread instead. because this is "economics" as understood by "expert economists" : oleg andreev, gavin assassinsen, that nytimes thoctchke what's his name
mircea_popescu: becase IT IS POSSIBLE that in YEARS!!!! it may go as high as i dunno, 5cents ? a whole quarter ?
mircea_popescu: like you know, if bread in your african village is 5 dollars a loaf, and there's cake at 2 cents, you won't buy any cake.
mircea_popescu: Pierre_Rochard: not to mention, the transaction fee _today_ is $0.02. Where is every man woman and child? Why are they not taking advantage of this amazing opportunity?? << because, the argument goes, they're so farsighted into the future, this children of the paycheck loan, these african seasonal hunters, that the POTENTIAL of it costing maybe more tomorrow perhaps is inhibiting them.
mircea_popescu: lol. "k guise, i guess we have a fundamental difference of opinion about this here wide screen tv i stole from your place"
mircea_popescu: but in point of fact the "monetary pholgiston" so to call the idealised thing is very poorly understood.
mircea_popescu: surely. and for that matter piss-poor models for bitcoin. that example is easily more misleading than useful.
mircea_popescu: Pierre_Rochard you know, the "say the word, nodes ready, miners ready within a recompile" messages i got so far and that keep piling in...
mircea_popescu: so there DOES exist some elasticity in the monetary good.
mircea_popescu: to some degree the demand for gold was elastic, and this is trivially proven by the fact that while industrial revolution europe used gold, china opf the time used silver.
mircea_popescu: (discounting, of course, frustrated nobodies a la adam back, who are so cocksure they imagine they invented clorophorm)
mircea_popescu: i don't know anyone that seriously thinks they have a model on it
mircea_popescu: it was discussed earlier with jurov, but of course noobs don't read logs.
mircea_popescu: I don’t want the developers setting it every two months, but I dont’ see a way to make fee revenue per block drive it (because the real-world bitcoin exchange rate is so variable) << this is particularly fucking stupid
mircea_popescu: uh this log. so yesterday^H^H^H^ earlier today ben_vulpes is all like "god i love you guys". then i get all "wtf is this derp thinking, giving usgavin room to pretend for ?" and next line in log, sure enough...
mircea_popescu: !v assbot:mircea_popescu.rate.felipelalli.-1:ce71215acbced2ee28e23af75dd7b767e6314f260038f4c916a1aa81cb263c6e
mircea_popescu: !rate felipelalli -1 has a very strange idea of when it's time to talk.
mircea_popescu: anyway, ftr, there's nothing at all in this gavin thing. so he came in, derped about nothing in particular, found his way out. at least a dozen random noobs/spammers performed just as well.
mircea_popescu: kinda funny how "statist " is slowly becoming a cry de guerre.
mircea_popescu: b) the spammy link you replaced it with isn't even local. or useful.
mircea_popescu: a) It's not nice to snip the source link - if you thought the guy;s work is good enough to use, think the guy is good enough to credit ;
mircea_popescu: kinda hoping that the by-default gossipd keystore system may be enough
mircea_popescu: kakobrekla: i noticed when i was coding that keyservers tend to go down a lot << this is true, and has been for a while. pgp keyservers like the weakest link in the assets system currently.
mircea_popescu: BingoBoingo re that post, lemme tell you how flattened i was by davout using "posteriority" :D
mircea_popescu: anyway, i figure if someone goes to the trouble of getting a cloak they prolly care about it.
mircea_popescu: STRML you're not using your cloak correctly youknow. we can see your ip.
mircea_popescu: which is fundamentally why they gotta keep quiet, for that matter.
mircea_popescu: that'd be yet another difference between me and (bpay / coinbase / derp.* etc) : not only i make money and they make burn rate, but when i speak i speak from atop a position of significant power. they speak out of their ass, pretty much,not having an iota of actual influence either way.
mircea_popescu: mpex is not regulated by the nyse, or in general by the us. expectations to the contrary will result in bruised expectators.
mircea_popescu: mike_c: i suppose his point is along the lines of "mpex controls the coins it is holding, but account holders own them". << quite a weak point.
mircea_popescu: ne1 else recall the glbse conference where nefario explained all about how he's immune to stuff two weeks before closing down ?
mircea_popescu: exact same thing, in this exact same chan, three years ago. nefario was all "oh, we're so smart we got stallman to come"
mircea_popescu: now that guy doesn't know how to erase his name from the mess.
mircea_popescu: "we're so smart, we even got the dean of the cyprus uni to come!"