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mircea_popescu: who i am and what eggs are comes before any numerical consideration of value.
mircea_popescu: so no, it's not a thing equal to another thing, and they discount each other.
mircea_popescu: Morgan: "Before money or property or anything else. Money cannot buy it...because a man I do not trust could not get money from me on all the bonds in Christendom."
mircea_popescu: Untermyer: "Is not commercial credit based primarily upon money or property?"
mircea_popescu: you are making a mistake jpm warned against. allow me to quote the old gentleman.
mircea_popescu: now, you're more welcome to get burned a few times if you won't listen and feel entitled to call things sophistry.
mircea_popescu: which they bought because they think like you, in spite of me telling them not to.
mircea_popescu: otherwise, debt notes are older than coins, have been in use in china since forever.
mircea_popescu: that's how it goes in the book your learned on. this is called didacticism : the sad habit of people to recreate history in terms of their preferred systematic approach.
mircea_popescu: BlueMeanie4 this is like saying vishnu is the basic thing giving the world movement.
mircea_popescu: no. bitcoin is not debt backed. every dysfunctional currency is debt backed.
mircea_popescu: they didn't fail because of securitization directly, but nevertheless they will fail unavoidably for reasons rooted in why that particular kind of securitization works that particular way.
mircea_popescu: go ahead. it ain't happening here, and it won't survive the decade.
mircea_popescu: hey, you wanna stick to doing it that way by all means.
mircea_popescu: no, it's not exactly the same. hence the comment above about shorthands,
mircea_popescu: hell, the ether future contract specifically said it will allow assignment even.
mircea_popescu: same principles, of course, but changes the engineer's life entirely.
mircea_popescu: i do. the problem is that you'd like for shorthand that's accepted in an old, meanwhile abandoned system to work unioversally.
mircea_popescu: which is why you're here, and which is why i'm not on ws.
mircea_popescu: but the reason you can't is because that's a fucktarded system made by lazy apes that doesn't work
mircea_popescu: no, wot only looks at how likely it is for your cp to lie to you.
mircea_popescu: it's nonsense to claim they're the same things but with different risks,.
mircea_popescu: and yes, i would say that they are equally likely to be delivered.
mircea_popescu: that's the wrong question. is it equally likely the store will deliver my order is the right question.
mircea_popescu: "i order a dildo and a box of cookies in the same shop. are they worth the same ?"
mircea_popescu: someone wants to cast a vote in the wonderous world of finance, he'd better demonstrate either intelligence or the ability to retain counsel.
mircea_popescu: whenever the random idiot gets involved across the board, the economy goes to shit.
mircea_popescu: BlueMeanie4 no it's not. they aren't for the mass market.
mircea_popescu: nubbins` it's actually one of the best ways to get in the wot, fully paid future delivery contracts with someone already in. should be safe enough if dealing with a heavyweight for both parties.
mircea_popescu: everything else went to shit, satoshi, mtgox, all the previous things that "were" bitcoin. we're still here.
mircea_popescu digs up wherever he said that something can either be decentralized or systematic, not both.
mircea_popescu: we can't, because a) you're not in the wot so no we, and b) we already have.
mircea_popescu: BlueMeanie4: so how do buy options/futures? << probably your best bet atm is otc. get in the wot, identify a trustworthy cp, sign a contract.
mircea_popescu: BlueMeanie4 anyway, nothing is happening in crypto since altcoin killed everything.
mircea_popescu: BlueMeanie4 why not ? are you like a loser or something ?
mircea_popescu: nubbins` you ain't black enough yo. if you were you'd have not got no options.