296100+ entries in 0.075s
mircea_popescu: lemme tell you how. i build a number of businesses in btc that relied on not dealing with idiots. they're still here, and worth whatever hundred million.
mircea_popescu: you're right. i recognize there's no power there, just noise.
mircea_popescu: let them say things about their business, making hamburgers or filling tyres or w/e it is.
mircea_popescu: BlueMeanie4 why should poor people have something to say about property and the dispositon thereof ?
mircea_popescu: nubbins` i think he pm'd everyone after being devoiced after being all territorial for some god-forsaken reason.
mircea_popescu: well no, it wasn't, because "chicago" as such dun exist.
mircea_popescu: and then we quibble about whether "it was really in chicago"
mircea_popescu: man. suppose you're the sort of klutz that thinks "chicago is cool". i then knowing you think this sell you a house in "chicago" fgor a price twhich reflects your expectation, but in a location that satisfies my cost structure.
mircea_popescu: and instead traverse the fucking wot according to some criteria that make sense to you and invest accordingly, IN PEOPLE ?
mircea_popescu: BlueMeanie4 like what ? like say, omg! like say you stop thinking in terms of "romania" wqhich doesn't exist anyway, and you oinly use because you gotta use something,
mircea_popescu: how would you "personally know". is this stock picking on steroids ?
mircea_popescu: but regardless of what really happened : there's no way forward. it died, and that's that. bury it and move on, you ain't fixing the corpse.
mircea_popescu: well we all got our stories as to "what really happened". i was merely illustrating the vastness of that area.
mircea_popescu: two decades later, the whole thing's ruined, as it will never get out of an ever increasing black hole of moral hazard
mircea_popescu: what happened is that clinton decided niggers will become whites if they get free houses. they drew up legislation to implement this nonsense.
mircea_popescu: bonus points if you mention "gaussian copulas" being calculated in excel spreadsheets by monkeys.
mircea_popescu: that's an important point for the da to digest, in his personal evolution from smarmy to useful.
mircea_popescu: every now and again a smarmy da walks into a smart judge's chambers with something about "a standard deal" and the judge tells him there's no such thing as "standard deals"
mircea_popescu: not the cheapo, dysfunctional ersatz the "financial markets" currently use.
mircea_popescu: it's fine for them to be marketable, provided they're financial contracts.
mircea_popescu: BlueMeanie4 he sells expensive artwork and shit. not a very good angle there.
mircea_popescu: it ruled an empire, and it was the way to rule an empire, before the very successful french revolution reorganised your mental space for you.
mircea_popescu: BlueMeanie4 if i cared what i looked like i'd actually be a cult leader.
mircea_popescu: it's not a pretty place to live in. even if you do have the ever present, ever oversold hope you will somehow "create immense value" and run off to live in argentina.
mircea_popescu: that's how you ended up with "books" being the shittiest thing people will still take as a book, in a neat little package
mircea_popescu: your focus on the price to the detriment of the more important considerations is, again, what sunk the system you grew up with.
mircea_popescu: the thrift is actually the historical point here. economy started its life as an attempt to waste less.
mircea_popescu: in the sense laundromat literally means laundry robot.
mircea_popescu: the point is for the market to be meaningful not large.
mircea_popescu: maximizing the market is not a valid goal of economics any more than maximizing body weight is not a valid goal of medicine.
mircea_popescu: we happen to be here to reverse all of it and more, but it's irrelevant which way it goes really. obviously the cock going in hurts about as much as it hurts going out, so to speak.
mircea_popescu: the funny part being, of course, that they actually DID redesign the whole universe, and everything you imagine was always fixed and the case was purely and shamelessly invented then. then history rewritten to support this inane theory.
mircea_popescu: this is like, bitcoin will fuck it up the ass with a steel girder and everyone has a short and vanishing opportunity to change sides.
mircea_popescu: this isn't like... o hey, bitcoin is trying to persuade the old order.
mircea_popescu: nobody here gives a shit, and unless you change your mind you'll be force-marrying some english speaking brute.
mircea_popescu: "real tangible facts of how political systems work" indeed.
mircea_popescu: BlueMeanie4 pretend you're some exponent of the iroquis. everything you said works just as well.
mircea_popescu: kinda like we care about how the iroquis "state capitol" used to work.
mircea_popescu: how financial markets used to work pre bitcoin is purely of academic interest
mircea_popescu: BlueMeanie4 that'd be because you got some ideas you're trying to fit to observed reality
mircea_popescu: they have not. just, you never used any math and you never had much to say about economics.
mircea_popescu: BlueMeanie4 well you gotta read to see the operable ideas.
mircea_popescu: but one point is important : the world you know has failed. this will require a pound of flesh out of everyone involved. whether it comes in the form of the intellectual humiliation where you say "we were wrong and the actual voodoo people at the table" and move on, or the actual physical humiliation that goes with being on the defeated side...
mircea_popescu: well, to round the circle : i find it unfortunate that so many otherwise intelligent fellows are so fixated on their various habituations that they refuse to adapt and become useful for the future.
mircea_popescu: these "financial markets" aren't a single thing, and they only work as you describe them when they don't actually work.
mircea_popescu: this is fine, but it's a little silly to push that argument of familiarity too far.
mircea_popescu: so look : you can sit in a car, and derive from the experiene of sitting there some idea as to how the car works.
mircea_popescu: how much are us gold backed debentures, worth cca 1931 ?