257400+ entries in 1.875s
mircea_popescu: c) that havelock has
a history of allowing high rent corporations to just walk away from their obligations, such as they did in the case of virtex,
mircea_popescu: b) that while neobee spends
a lot of time executing, it's so far failed to actually come up with
a business plan. anyone can buy advertising, and overpay for it.
mircea_popescu:
a) that while neobee collected funds (on havelock), they have yet to issue
a report. this is eerily reminescent of the bitcoin foundation scam, and does not bode well
mircea_popescu: the neobee people bought
a lot of newspaper space recently, that hat you mean ?
ReutersEmily: think it was
a guy who couldn't run an exchange or an outside theft?
mircea_popescu: we could have together avoided
a shitton of loss and misery.
mircea_popescu: now, if the sec had actually had
a gpgkey registered with me in april 2012,
mircea_popescu: and unravelling
a bunch of scammers posing as "bitcoin bankers" and issuing "credit ratings" and whatnot
mircea_popescu: ReutersEmily anyway, some highlights include calling out the pirate scam in april 2012, at
a time everyone thought they knew better,
Namworld: MPOE-PR exposes scams and belittles random strangers looking for investments/offering
a service which involves handling third party funds, without any respectability or proof of competency.
Namworld: MPEx at its core was made to be simple, secure and without any extras. Designed to be
a true exchange. Other places so far dealing with Bitcoin securities have both the issuing and official trades of share, and the web interface. It makes them vulnerable to hacking and meddling with the list of holders.
ReutersEmily: do you have limits on how many shares in
a single company can be bought by
a single signature?
mircea_popescu: there's
a lengthy list, and all this is strictly
a mpex thing, nobody else does it.
Namworld: One can buy
a registration with MPEx and then actually provide the brokering service, complete with actual web interface. Such as what coinbr.com did.
mircea_popescu: mpex keeps
a list of what
a signature owns, in btc or instruments.
ReutersEmily: you say you make sure that he who orders
a buy or
a sell has enough of whatever is needed
mircea_popescu: and then whenever someone orders
a crossing sell or buy, the trade is executed and reported to the parties.
mircea_popescu: mpex ensures that he who orders
a buy or
a sell has enough of whatever is needed, stocks, btc
ReutersEmily: like, if someone wants to sell something, MPEx is the buyer, and then MPEx turns around and finds
a buyer?
mircea_popescu: this is how mpex works :
a new user registers his public key with mpex, and registers mpex's public key for himself.
Apocalyptic: anyway I contacted that guy just for the lulz, if he was willing to pay for such
a platform
mircea_popescu: as you can imagine, this'd take
a while. you'd have to keep trying dividing it
mircea_popescu: so if you want actual losses i'd guess ten to
a hundred million.
mircea_popescu: that is easily over
a billion dollars in today's market, but at the time btc was valued
a lot lower
pizzaman1337: in the feb report the expenditure was 8.262335 BTC, how does that cover
a hundred people?
mircea_popescu: to date i would guess about 20 to 30k different individuals have lost to unscrupulous operators somewhere between half
a million and two million bitcoin
mircea_popescu: which at the time worked out to well over half
a billion.
mircea_popescu: pizzaman1337 over
a hundred by now if you count absolutely everyone.
mircea_popescu: ReutersEmily about
a dozen, it varies. they review public communications, keep track on the status of various purported btc companies, make regular statements etc.
mircea_popescu: there has been
a lengthy list of wannabe-mpex websites to date, it all ended bloody.
mircea_popescu: x.eur is
a settled euro future handled by bitcoin-central's davout, so i suppose you could use that.
mircea_popescu: no, i am saying their debate as to whethet to come out and say its not in their yeard or not ended up in fishtails last tiem they tried to come to
a declaration.
mircea_popescu: well, people without
a business plan, people without an established identity, etc
mircea_popescu: ReutersEmily well, again just like the nyse. you have to satisfy
a due dilligence process.
Namworld: Havelock works boh as an exchange, and as
a broker. It makes it easy to trade, no opening fee and large trade fees. MPEx works like an actual exchabge. Not much interface, very high security, high entry fee for
a seat, low trading fees.
mircea_popescu: s.nsa is
a fine example of one company that succeeded. the owner there came up with the idea of making an actually cryptographically secure gpg gizmo
ReutersEmily: as in - some make it through your registration process and others don't? or can anyone register, and then it's just sink or swim, it's
a matter of whether they can attract funds?
ReutersEmily: what if i have an idea for
a startup, can i register with you before my company is really up and running in order to get some funding for my idea?
mircea_popescu: you can't buy say british petroleum on nyse unless someone does
a dr deal.
mircea_popescu:
a, no. you buy shares of companies registered with mpex.
ReutersEmily: How does MPEx work? Can one chose what specific investments one wants to make or is it
a portfolio chosen by MPEx?
nubbins`: there's
a pun hidden in there if anyone's looking
BingoBoingo: mircea_popescu: Cool, working on
a blog post.
nubbins`: TBF i was buying btc and pushing them into SR as fast as i could, and pascale said "maybe we should sit on
a few k's"
mircea_popescu: i spent about
a year with ppl going "wait so you bought at 15 ? but it's not even half that now! you got duped mp!"
mircea_popescu: nubbins` i like bothering people with that figure :D i imagine all the assholes buying 10k for
a pizza are long gone so nobody can bother me.
Namworld: Read it, it's one page in english. It's
a good laugh.
mircea_popescu: unless it's
a naked karpeles dancing in the streets of tokio for nickels i ain't interested.
mircea_popescu: benkay: at 12, there was
a man ranting in ##econometrics about mortgaging himself to the hilt and going long btc. <<< this has long been the practical bank killer.
BingoBoingo: This was especially true at the peak of McCarthyism, since Johnson though there's gradually been
a little less denial though every generation.
BingoBoingo: Namworld: Here's
a likely plan. 1) Be shit and get coins trading for 1/5th value buying many with play money 2) Shutdown and Bankruptcy filing 3) gradually "find" coins 4) ??? 5) Profit
Izzy_: well if anyone wants to help out
a mac user, you can email me @ isabism@gmail.com
chetty: does it at least have
a package manager?
chetty: benkay: I haven't time for scfi reading much in
a while, anyway real life seems to have caught up, the newspaper is mostly scifi
benkay: provided it's
a cold wallet.
benkay: now might not be
a bad time to do the same thing.
benkay: i thought him either
a fool if honest, or
a sly fox if amping the hysteria.
benkay: at 12, there was
a man ranting in ##econometrics about mortgaging himself to the hilt and going long btc.
cazalla: he's kind enough to give my brother and I
a windfall
benkay: chetty: i'm reading
a splendid little space opera set across the solar system. war between mars and the belt, with big rocks waiting in the wings to get tipped down the well.
cazalla: given they are xenophobic beyond what i could ever be, i expect them to put up
a little more resistance to cultural enrichment than the west has to date
Izzy_: so now they have
a cryptocurrency?
benkay: "leverage". the word i was looking for
a few minutes ago. "leverage".
benkay: i'm considering giving my hacky implementation
a rest and diving into the work they've done
benkay: well there's
a strategic option that while less tasteful may satisfy
mircea_popescu: benkay so are you giving it
a rest or merely wanted to complain ?
mircea_popescu: Izzy_ well i just left her
a message above, which is what gribble confirmed. she'll prolly hiot you up if you're around once she shows up
gribble: Error: "guide" is not
a valid command.
benkay: Izzy_: have ye
a gpg and wot yet?
Izzy_: why does there seem to be
a divide w/ xrp and bitcoin
Izzy_: for
a living right now, i'm
a broadcaster on www.openxrptalk.org - we'll see how far i can take it
mircea_popescu: Izzy_ yes, what did you learn in school and what do you do for
a living.
mircea_popescu: nice formatting, but don't you find that chinese workers example
a little bizarre ?
Izzy_: is there
a step by step sight for future bitcoinistas?
Mats_cd03: i suppose its
a solved problem after all
mircea_popescu: Mats_cd03 so simply advertise
a gpg key, which people can encrypt to.
Mats_cd03: pseudonymous forum that allows for full disclosure while insulating identity of researchers while maintaining
a reputation system