256100+ entries in 1.752s
radan: consider that the purpose of
a business (from
a societal, not individual viewpoint) is to keep as many people as busy as possible
mircea_popescu: cut 99.5% of the workforce woreking in
a bank, increase salaries for the remainder 10 to 100x
mircea_popescu: currently there's one valuable person per bank office : the credits officer. he's the guy that makes the call if lending is
a good idea.
TestingUnoDosTre: I would rather my county have
a pompous tv personality judge than
a real hard ass judge
TestingUnoDosTre: apparently, he was an actual criminal judge for
a county back in the day
TestingUnoDosTre: If anyone finds
a version of that bitcoin swaps article that contains comments about the winklevoss brothers, please send it to me. I read it earlier today and broke out laughing, but I can't find it now :(
radan: I presume you want to go there because they have
a stable society
radan: Iceland's pretty tight on immigration unless you're rich or
a refugee
radan: this is like giving every man
a farm so he can work productively
ThickAsThieves: it makes
a difference if the site can be compromised and depsot addressed get mitm'd
mircea_popescu: kakobrekla: i was actually contemplating just copy pasting the output of current wp in
a html file << notrly such
a bad idea.
ThickAsThieves: "The first way is as follows, since 80% of the Icelandic population is on Facebook, Icelandic citizens will be able to claim their coins simply by logging into Facebook through
a gateway."
MisterE: yea they are but
a robust derivatives market is more than options
MisterE: MP: I see that monthly statement, bummer month, but anyways what am I missing about
a derivatives connection? the bonds market?
moiety: lovely for you ninjashogun, invited where? make sure he sees you home like
a gentleman
ninjashogun: moeity - I was kind of invited by someone - not sure if he's
a scammer. (that means he probably is.)
mircea_popescu: who the fuck thought someone wants
a mentor they've never met.
ninjashogun: given that there's no due dilligence that can be done. no contracts that can be enforced. no sec. no proof you're not getting scammed. and every listing on crypto stocks is
a scam. and the OPERATOR is
a scammer. ......... how is anyone investing?
TestingUnoDosTre: you could sell them in neat little batches with different risk profiles... it would be
a paradise
ninjashogun: given that there's no due dilligence that can be done. no contracts that can be enforced. no sec. no proof you're not getting scammed. and every listing on crypto stocks is
a scam. and the OPERATOR is
a scammer. ......... how is anyone investing? How is the market 'clearing' (bid meets ask)
radan: I guess it's
a better investment than keeping in my wallet doing nothing
mircea_popescu: MisterE you know we had
a derivatives market for about two years, and yes it did bring plenty of stability heh
MisterE: Finally someone is making
a derivatives market!
blackwhite: Apocalyptic i get how it works and nothing prevents them from removing
a lot of small amount other than that kind of consitution the same as
a large amount. If they have to do it over
a month then I would most probably know.
ninjashogun: like the way ice cream can cost $0.75 for example, it could cost
a certain amount of BTC 0.001 or whatever
Apocalyptic: and what prevents the theif from withdrawing
a lot in small amounts ,
Apocalyptic: "have
a whitelist of larger transactions." what ?
blackwhite: so I am saying setup
a company who look for suspicius deals or have
a whitelist of larger transactions. (i.e. tell this company when you are going to make larger transactions)
kakobrekla: <blackwhite> someone would make
a killing setting up
a 24/7 security company watching over those online wallets < - is this opening asciis parachute after you have hit the ground?
blackwhite: someone would make
a killing setting up
a 24/7 security company watching over those online wallets
ninjashogun: Unfortunately we had large fund withdrawals in the last weeks which have lead to
a complete depletion of our cold wallet balance and we are now facing the option of either closing the site with significant unrecoverable losses for all or to work out
a solution that allows the exchange to continue to operate and gradually pay back the losses. "
Mats_cd03: also, something about conflating deposits in
a exchange with actual currency...
Mats_cd03: paypal and usg having
a number of such incentives that enable them to operate like thugs
benkay: it's
a rotten ship and they're all rats.
Mats_cd03: besides which, there is no incentive for new customers in lieu of
a new risk profile
benkay: cryptostocks continued operation is
a gross violation of thermodynamics.
Duffer1: ninjashogun cryptostocks continued operation is
a gross violation of common sense, morality, and probably most jurisdiction's laws
ninjashogun: Mats_cd03, we know for
a fact that with real currencies the answer is "yes". We know because people used paypal when paypal froze merchant's accounts and ruined their businesses. We know because people use US Banks when US Banks freeze people's accounts while they're under investigatoin. etc.
ninjashogun: Mats_cd03, would anyone ever put their bitcoins onto
a site that is currently freezing somebody else's bitcoins - and they know this?
ninjashogun: Mats_cd03, well what is the PRIMARY issue with putting your bitcoin in
a site that is currently freezing someone else's bitcoins? Look at that and you will see, some people may still put some of their bitocins in.
benkay: it only takes
a btc addy
ninjashogun: Mats_cd03, no, but I think that you will find in looking at Fiat that the fact that the money supply is unilaterally increased by letting banks put more into circulation than existed - and that the rate of this is
a total unknown - does not deter people from using and holding USD.
Mats_cd03: what incentive does
a new customer have to become
a part of
a known weak exchange?
BingoBoingo: This is
a business admitting its business model is incompatible with reality and failing to take the last necessary action.
BingoBoingo: ninjashogun: This isn't
a currency getting hacked.
moiety: benkay: not if its called
a ponzi
ninjashogun: Likewise, if
a currency does get hacked, it is probably better to become fractional-reserve, or freeze accounts, or play other shenanigans, than just say, "Well we're gone now, bye, and thanks"
benkay: what do you think mo: is
a scam
a scam?
ninjashogun: That is probably
a better outcome than if they had "abandoned the dollar" due to its dilution by fake dollars.
BingoBoingo: ninja they have been
a known shit heap since roughly February 2012
benkay: man if i had
a btc for every time i've read that
BingoBoingo: Well, can any platform that does such
a thing be taken seriously?
ninjashogun: However, I will say one thing. At
a macro level there is no FDIC, nor bailout.
TestingUnoDosTre: So apparently I've been living under
a bush for
a while, but the creator of Candy Crush was apparently successful at generating cash flow?
ninjashogun: let's flip it around. Would
a serious company that had traditoinal real-world financing rounds (convertible note, or equity offering with shareholder's agreement with
a real VC) ever list on there?
benkay: and i guess bitcoin is just
a protocol and so this thing is additively good
CheckDavid: It's supposedly
a protocol that adds
a lot of value to btc
Mats_cd03: CheckDavid: i speak from
a place of ignorance re: mastercoin so dont mind me
benkay: gribble needs
a ;;first to complement ;;seen
gribble: Error: "first" is not
a valid command.
ninjashogun: (by the way CheckDavid and I are on skype now, and we may be collaborating on the jobs thing. I talked with him for
a couple of hours total, don't know him personally yet but we're on skype.)
Mats_cd03: i'm confused by the website, "Mastercoin To Create New Altcoins In Bitcoin’s Block Chain" is the title of
a press release
ninjashogun: Mats_cd03, I meant is
a nick from one of the contributors in here. I should have asked in #bitcoin
Mats_cd03: 20:06 <ninjashogun> Are mastercoin in here (
a nick) for example? etc. <<< huh
ninjashogun: Are mastercoin in here (
a nick) for example? etc.
ninjashogun: I'm talking with
a collaborator about crypto currencies and varoius exchanges, etc.
ninjashogun: if the blockchain is already 20 GB, then in
a year or two will it be like 100 GB - just to be part of the network?
gribble: (bcauth <nick>) -- Initiate authentication for user <nick>. You must have registered with the bot with
a bitcoin address for this to work. You will be given
a random passphrase to sign with your address, and submit to the bot with the 'bcverify' command. Your passphrase will expire within 10 minutes.
mike_c: they aren't even worth laughing at.
a couple of front-end engineers built an options exchange.
cazalla: yeah, i wish they would make more, shame the books are
a bit difficult to read - at least for me
mike_c: hm, hornblower has got to be better than
a book crichton wrote after he died
radan: there's
a lot of people voting yes
cazalla:
a pirate book, forget the name
radan: I knew
a girl named caz
radan: cazalla, are you
a girl
deadweasel: bitbet,
a neverending source of infotainment
peterl: well, yeah, but that is
a whole different issue entirely