267500+ entries in 1.851s
mircea_popescu: herbijudlestoids anyway, it's nothing as heavyhanded as "
a lesson" blabla, it's just we apparently all seem to see sometyhing there.
benkay: hope and socialism and
a couple million bucks might get you
a market.
herbijudlestoids: mircea_popescu: in no sense am i trying to build
a complex system, just provide the seedbed for liquidity in ATCBTC on openex, in the hopes of enticing others to do similar
herbijudlestoids: mircea_popescu: your analogies arent even close to related. nature builds simple robust systems, obama trying to restart
a complex system far from equilibrium...
herbijudlestoids: this all started because mircea_popescu asked if i would be his "ATC daytrader on openex" because i mentioned having put on
a small cascade of limit sells last night...and i said i didnt think there was anything to the market except the potential for MM
mircea_popescu: but merely out of
a bunch of things following my rule above.
mircea_popescu: herbijudlestoids think in terms of autonomous entities. like say an insect, or whatever. its survival as
a type and as
a species depends on interracting with an unspeicifed envronment
a certain way.
BingoBoingo: herbijudlestoids: Well, the point is they should be different from Doge markets with their pumping and dumping and
a lack of actual value
mircea_popescu: to reiterate my earlier q : why are you so convinced
a high price is better than
a low price ?
BingoBoingo: herbijudlestoids: Isn't two cans and
a sting magical
mircea_popescu: jayk ah, nope. they claimed it was some slovenian band but it turned out to be
a scam
mircea_popescu: incidentally, why are you two so convinced
a high last trade is useful or important ?
mike_c: herbijudlestoids: it is not complicated. you did not "make
a profit". you entered
a position.
mircea_popescu: yes well you gotta cut me some slack here, i deal with nude bands of amazons on
a biweekly basis
jayk: it was
a week and half ago
herbijudlestoids: so if i make
a profit, but i cant make another profit, it counts as getting creamed?
mircea_popescu: either what you do is profitable and sustainable, or else it isn't. we have
a word for that latter.
herbijudlestoids: mircea_popescu: no problem specifically, but its unsustainable, id prefer to continue making
a market around the diff implied price than not
mircea_popescu: traditionally "i had
a plan, gotta discontinue cause out of capital" is creamed.
mircea_popescu: i think it took about 19 months for
a 5 btc aggregated trade
mike_c: HunterS sold
a couple million ATC supposedly
pankkake: bernankoin had
a sole $25 transaction
mircea_popescu: herbijudlestoids gotta be
a least
a coupla bitcoins by now
BingoBoingo: mircea_popescu: Earlier this week it was up to 0.1 in
a 24 hour period on Openex
BingoBoingo: BTC on the other hand is too expensive to throw away on making
a market look right.
BingoBoingo: herbijudlestoids: Consider this
a lesson in fundamental assumptions that vary between the fiat and BTC worlds. Fiat can have money come in at any price.
herbijudlestoids: BingoBoingo: ok well let us see how much activity occurs with
a spread of 300, my guess is none.
BingoBoingo: herbijudlestoids: It isn't necessarily unhealty. It simply means sellers and buyers have
a disagreement.
herbijudlestoids: BingoBoingo: yer, in which case the spread stays at 300 and nobody gives
a fuck about the market
pankkake: should fake volumes be
a feature of altcoingen.io? :)
herbijudlestoids: BingoBoingo: the goal was to seed
a microstructure, but if you dont want one, thats coo :) i can just lift the offers
mircea_popescu: BingoBoingo as rickles once said, he's making
a loss on every trade but hopes to make it up on volume.
pankkake: openex considers
a 30 char password is only "good"
Apocalyptic: <herbijudlestoids> BingoBoingo: whats specifically wrong with the order matching? // try to sell for
a price of 0.00001
Apocalyptic: the guy running it is
a nobody with shady past history afaik, UI is shit, the engine is PHP and looks like shit too
herbijudlestoids: Apocalyptic: im trying to build
a microstructure and get paid appropriately for it
herbijudlestoids: i am aware that there is
a commission, yes...what does that have to do with the bid/ask spread?
mircea_popescu: "Our servers are currently experiencing
a technical problem. This is probably temporary and should be fixed soon."
decimation: indeed, and any attack against
a nuclear state with nukes must always be considered suicidal because of the uncertainty about counter-strikes
decimation: even in the red zone you would likely survive the immediate radiation if you were in
a simple bunker
mircea_popescu: moreover, practically : tokyo was hit worse than if the us had actually detonated
a large nuclear warhead.
decimation: nuking the place ruins the value, making it
a foolish proposition for any rational actor
decimation: the value of
a city is the sum of all the services its brains can provide
mircea_popescu: really, they'll kill
a fly ? and douse everyone in there in carcinogenics ?
mircea_popescu: one of the reason this sovereign beats that sovereign is that it has
a better definition of sovereignity.
decimation: Well, if there is
a major collapse of the US dollar for instance
decimation: indeed, and once
a 'bitcoin sovereign' acquires nukes, the foothold will be forever established
mircea_popescu:
a sovereign is
a sovereign, it will do anything it may deem worth doing.
decimation: interesting. the trouble with
a turbulant future for the US (or other nuclear powers) is: what happens to the nukes?
mircea_popescu: including
a certain high ranking chick the french king.
mircea_popescu: jurov famished as they are, they'll be prolly beaten off with
a stick
decimation: at the very least, there will be
a hunt for collaborators
mircea_popescu: except the only point of history n the us is the defeating of such
a construct.
decimation: some states are fairly homogeneous, and the idea of
a 'state' is
a sufficient Schelling point around which militia can rally
mircea_popescu: the us is
a large, federal (as opposed to national) construct.
mircea_popescu: decimation peaceful transition is experimentally
a function of ethnic and cultural homogenity and size.
decimation: I'm certainly
a fan of peaceful transitions
decimation: The civil service in the US is mostly
a jobs program, but the elite staff at the top generally knows what they are doing (like Ceausescu, they have learned through doing)
mircea_popescu: not because the guy orders them killed, but because the guy is actrually smarter than them, and breaks off their metaphorical arms and beats them into
a pulp with them
mircea_popescu: but if they get caged with
a head of civil service they get wiped.
mircea_popescu: the man passed for an idiot in their theoretical writings, he owns them on the floor. not because of
a threat of violence, but through simple intellectual superiority.
mircea_popescu: it summarizes
a book, which is mostly built on the stenographs of romania's dictator and sole source of power,
herbijudlestoids: i also found
a bug on openex last inght and lodged an issue on github
decimation: you wrote
a few days ago about the lunacy of
a self-enforcing contract due to the context of language
decimation: there is
a thing called the "roth IRA" where you save post-income-tax money; USG claims it will never tax it again
decimation: I guess this stems from the root of the problem being that
a tax on bitcoin is retarded
decimation: yeah, but the way it works in the us is that you must have
a custodian for your retirement account (tax free accrual)
decimation: it seems
a different matter than
a third party keeping your gold, for instance
decimation: on the other hand, the idea of
a bitcoin retirement 'fund' is retarded
davout: Apocalyptic: yup, they be the police, i don't want to touch that with
a ten foot pole
davout: mircea_popescu: what is it you said once about one party of
a deal saying "that's the way it's gonna be" again ?
davout: there's no such thing as
a "ok you're kosher" kind of stamp
mircea_popescu: you're
a businessman not
a policeman. let the policemen do their job.
mircea_popescu: the only sane way to do that would be making
a state agency which handles the aml kyc.
mircea_popescu: the us turning into
a sort of continent sized syria is however also quite possible.
mircea_popescu: that's
a sailor. people who can sail
a boat in some circumstances are sail management technicians or w.e
mircea_popescu: you're immune from it for
a very soft yet very strong reason
mircea_popescu: sure, someone could show up with
a 100 btc wallet and beat you into
a pulp.
mircea_popescu: ThickAsThieves generally, if you live in
a town where people have the right to bear arms, it's better to live in the one where people actually know how to use arms.
mircea_popescu: sooo... anyone with
a sharpened stick can make his own buttcoin