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mjr_: and wanted me to sell him another 5k yesterday, but we couldn't meet before banks closed
mjr_: he bought 10k worth of btc on monday at satoshi square
mjr_: well, we are in nyc
mjr_: so he wants 20k USD worth of litecoin before that announcement comes out
mjr_: thinks that will move it from 3 to 6
mjr_: i know someone who is betting 20k on gox starting to accept litecoin
mjr_: and yes, gox has BEEN failing
mjr_: announced more avalons last night
mjr_: you said 500k USD in person in cash
mjr_: why you selling ChaangNoi?
mjr_: nice announcement in COGNITIVE
mjr_: does anyone know if anyone is doing options on AM
mjr_: that is for this months expiry
mjr_: example: AAPL closed at $430 i think, the call for $430 is $3.55
mjr_: in a more liquid market with more depth, you can usually trust market prices somewhat
mjr_: that advice is for bitcoins btw
mjr_: but, if you don't like math, don't play with options i would say
mjr_: i wish bugpowda was here, he prob has a spreadsheet to do it for you
mjr_: cuz i did it off of memory
mjr_: and you have your volatility
mjr_: then find the square root of that number
mjr_: square that number and take the average of all the squares
mjr_: calculate the difference from the average return for each days return
mjr_: find the average return
mjr_: figure out the return for each day
mjr_: i would say go with the last 30 days
mjr_: after you know what the option is worth, figure out CP risk premium etc
mjr_: but, if you want an example, look at the stock market
mjr_: since you can only lose that share
mjr_: anyway, if you hold the share, you can sell your option at whatever price you want
mjr_: but also realize that you are basically relying on your accuracy and how correctly you calculate the volatility
mjr_: since volatility is really the only variable that you need
mjr_: plug it into a black-scholes option calculator
mjr_: you can figure out the vol
mjr_: if you have historical data
mjr_: but most things don't work that way
mjr_: then you have to charge a lot
mjr_: if you assume that the price will go to a million and 0 every day
mjr_: why can't joe be the whore?
mjr_: and believe me there is so much to attack in the idea/substantive space
mjr_: but attacks based on ideas, are something you should welcome, if you have stupid ideas
mjr_: well, i think that personal attacks are usually the result of not having something substantive to attack...
mjr_: lol, i was glad that mika tan responded ;P
mjr_: which is why you specialize, and each entity deals with trying to obtain its goal
mjr_: you can't really pursue it
mjr_: and when you are pursuing 5 different goals
mjr_: most people's problems can be figured out by realizing that they don't know what their goal is
mjr_: trade happens on the secondary market between customers/brokers
mjr_: customers contact their brokers to get access to new stocks
mjr_: underwriter gets broker dealer to market make the new issue
mjr_: underwriter gives y btc to company who now no longer cares
mjr_: i will sell x% of my company for y btc
mjr_: businesses don't want/shouldn't have to deal with the raising money beyond setting up an IPO
mjr_: but that is the point
mjr_: yes, business is hard
mjr_: and i think most of what is on those other sites is trash
mjr_: exactly, which is why a walled garden approach is correct
mjr_: broker dealers buy and sell stocks
mjr_: exchanges match up buyers and sellers
mjr_: investors, get assets to invest in
mjr_: company to get money to fund their operations
mjr_: you have to look at each entity's needs and goals
mjr_: broker/dealer, market maker, exchange, somewhat underwriter sometimes
mjr_: but it is very orderly when the exchange doesn't do EVERYTHING
mjr_: anyways, i like the wild west too
mjr_: for example, look at what happened when erik wanted to release 3,000,000 more shares
mjr_: i think it could make sense
mjr_: well in a vetted market like mpex
mjr_: this is why there should be brokers/market makers
mjr_: will we eventually have ltc options on mpex?
mjr_: so it is nice in some ways that linus doesn't take that approach
mjr_: one thing that was funny about that was that you also had an article that said the way that some of the actual devs keep those hanger ons working for free is by "respecting" them or w/e
mjr_: the beatings will continue until morale improves
mjr_: in approach towards mgmt etc
mjr_: very similar to linus
mjr_: so, we see the comparison
mjr_: mircea_popescu: lol
mjr_: I for one am of the opinion that people should be able to say what they think and feel and if they aren't smart or capable enough, no one will work with them, if they are necessary they can do as they like