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mircea_popescu: o wait, i forgot, the wash trading sort of huge. a trillion just as long as it's done in 100 increments. nm me.
mircea_popescu: so yeah, if it goes too low for too long they'll be dropping like flies
mircea_popescu: definiotely most of the midrange and plenty of the larger mining outfits have just about zero contingency and financial planning in place
mircea_popescu: if anyone can get trhough to a contact or something, tell him to drop by
mircea_popescu: so the practical choice is either "how you doing" "Great! and you ?" "also great" "oh, great!" or else the midnight oil.
mircea_popescu: yeah but most things worth talking about can't be discussed in simple terms.
mircea_popescu: in a few years, it's a negative value. you get tortured.
mircea_popescu: like currently, working for the usg is a positive value. you get health insurance, a salary, etc.
mircea_popescu: ben_vulpes it's been known to happen. that's the textbook definition of dekulakization btw : make an asset go negative value in the open market.
mircea_popescu: kakobrekla no you will owe the internet dollars when this is all done
mircea_popescu: TheNewDeal liquor is made quite simply : triple alcohol (198 proof or w/e) added to X item of your choice, let sit for a few months. then cut it.
mircea_popescu: kakobrekla you can lket coffee grinds sit in alcohol then add sugar, just like anything else.
mircea_popescu: but as a total aside : the quality of your arguments exceeds the quality of your expression, significantly. that means you're smarter than you're read, which is unfortunate. you definitely should read up on and master all that "preppy 101 vocabulary", it's not the waste of time inept pseudo-teachers and pretend-authorities have made it seem.
mircea_popescu: but then again, the proposition that he was is easily falsifiable.
mircea_popescu: because if he had been working in a purpose-theory approach, he would have been.
mircea_popescu: which is why you imagine satoshi to be a rothbard tool.
mircea_popescu: instead your priors are controled by the authors of your favourite purpose-theory.
mircea_popescu: it's just that THEY do get to control your priors. you do not,
mircea_popescu: this is false. you have no better access than the students of cause-theory, for very good thermodynamic reasons.
mircea_popescu: the way this promise goes is, "if you limit yourself to purpose-theory, you will have privileged access to ultimate effect"
mircea_popescu: see, you're trapped in this particular worldview, which falsely promises you somewthing.
mircea_popescu: it's not that. i don't care about the man's memory or anything. im trying to explain a fundamental difference in approach.
mircea_popescu: he proceeded from basic principle. and he, and a lot of other people, couldn't give less of a shit as to what the ultimate implications are.
mircea_popescu: ok. so then. satoshi didn't proceed towards this goal or that goal, as presumed by this or that purpose-built theory of economics.
mircea_popescu: you at all familiar with the ancient art of hermeneutics, Dimsler ?
mircea_popescu: but in fact, a number of people are not doing any of that.
mircea_popescu: you're trying to apply the acting towards a purpose approach, because that's all they teach anymore.
mircea_popescu: looky here. all this would make a lot more sense to you if you read the trilema explanation as to the difference of acting from a cause from acting towards a purpose.
mircea_popescu: fucktard. for one thing, it STABILIZES the price. which is good.
mircea_popescu: "Contrary to popular belief, a rising bitcoin price ends up damaging liquidity instead of improving it. Miners are encouraged to cashout their huge gains by a rising price. This leads to volatility across the board via crashes. The volatility makes it too difficult to perform economic calculation in BTC."
mircea_popescu: "it's flawed because the government should get it to give it to us why should some people get it to do whatever they feel like onoes"
mircea_popescu: "I want to make this clear. This is not the result of a conspiracy or collusion. This is the outcome of flawed economic incentives and the reaction to them by participants. Hardware used to mine is irrelevant. The underlying rationale regarding distribution of newly created bitcoins is flawed."
mircea_popescu: Dimsler how could one catch your post there, seeing how there's no dimsler ?
mircea_popescu: mkay so the situation is that you have a btc-e account and work as a broker, but when i asked you the first time you figured it's a good moment to insert a pretense of significant holdings you don't actually hold, and in doing so inadvertently blew to bits your earlier description of your actual activity, which was up to that point correct.
mircea_popescu: well, you made the correlation, i'm just trying to follow.
mircea_popescu: if you're looking to "pump to sell your own coins", the moment you found a buyer you sell and that';s it.
mircea_popescu: inasmuch as you have a stash, you already took a form of exposure.
mircea_popescu: so then if you have a large stash of your own coin, why do you need to hedge on any website ?!
mircea_popescu: "Any undertaking carried out with Bitcoin (BTC) will begin immediately, though it may be up to 24 hours before it is reflected in your BTC-e account. BTC-e executes all account withdrawals right away or in 1-2 days."
mircea_popescu: so i gather you have a btc-e account and work as a broker ?
mircea_popescu: "Do you accept any alternate forms of payment such as Debit/Credit Cards?" that part is pretty win.
mircea_popescu: Dear participants of the BTC-e.com The cases of hacking accounts with the use of viruses disguised as trade bots, trading platform, and also subscription for mailout, from which you may catch a virus if you follow a link in it, became more frequent.
mircea_popescu: i dunno if i can mix being scammed with not being scammed but not making a profit.
mircea_popescu: imagine this shit, the first time i actually buy a mining future contract, i actually get a great deal on it.
mircea_popescu: thickasthieves only with people who'll actually deliver. like say X-Rob here :p
mircea_popescu: that was scammy at the time but by now even the usg is doing it, so it seems to have been legalised ipso facto
mircea_popescu: anyway, btc-e has indeed been around for a long time, and no i don't know anything substantial against them, so.
mircea_popescu: so you deal btc in person in your geographical area and use btc-e to float the spot risk ?
mircea_popescu: "<Dimsler> i hedge my clients on there exchange" << this will need some clarification.