log☇︎
299300+ entries in 2.279s
smickles: MJR_III: i'm not sure how jurisdiction would play out, so i default to where I am
DeaDTerra1: I can take lower amounts, as I said. We are zeroed :P I am quite desperate for any amount I can get my hands on. btcx will repay it on Monday/Tuesday when our wire hits MtGox
smickles: I think 10k is above my legal limit
DeaDTerra1: 10k$ ish, btcx.se (where I work) are totally out of float, people just got their salaries and it's now a four day holiday in Sweden...
smickles: i don't think poverty = corruption
MJR_III: anyways, i think if you could hash 2.5x as fast...you would be making a ton of money
mircea_popescu: anyway, i'd say romania is about as corrupt as france.
mircea_popescu: ok. can i have 2 ?
jcpham: i read about it in this channel recently
jcpham: mircea_popescu did you know i can buy a judge for $500
smickles: MJR_III: if you notice, i granted him the fact that mircea_popescu is a fraud and asked him what i should do about it
MJR_III: so i think that at 6hz and above...you have to worry about the small times where the heat is still on the chip before the water can suck it up
smickles: tiberiusiv: aslo, from what i've read of the polimedia financials, most of his money used to come from consulting
MJR_III: but i think oil is the best heat dissapater
MJR_III: i like star trek somewhat
MJR_III: i wouldn't engage, you are giving him what he wants
smickles: tiberiusiv: though, that market cap does seem high to me, it is consistant with the amount of buys from people other than mircea_popescu that I know of myself
MJR_III: i wonder
mircea_popescu: i wonder if it'd be practical to make your asic farm in a small siberian town
MJR_III: jcpham: i mean for a real industrial asic plant
smickles: tiberiusiv: I haven't noticed an exaggeration. Are you talking about something you saw in irc or on a webpage?
MJR_III: saying you COULD cool the oil i think in this example there was no need
MJR_III: and i am almost certain you could clock them faster
MJR_III: i'm sure they would
mircea_popescu: i was wtfing all to hell here thining you know... crude oil
Diablo-D3: mircea_popescu: why do you think I'm working out a $250m plan thats all involving a DC?
smickles: tiberiusiv: i don't think he exaggerates, he just speaks of the notational numbers because they are bigger
jcpham: i assume that oil dissipates more heat than air no matter what
MJR_III: i was thinking an asic though would be heatsink only
smickles: tiberiusiv: I would be upset too if i had an operation the size of mpex and got left out of media attention
jcpham: not something i'd want to do
jcpham: i've seen a submerged oil rig
mircea_popescu: o i know!
MJR_III: Diablo-D3: i was wondering about that today
mircea_popescu: Diablo-D3 minus a lot of the overhead. i think at least.
smickles: tiberiusiv: so you suggest that he's a scammer b/c he's romainian and allows people to post pictures you don't like, i understand that. What would you suggest my course of action be based on this information?
mircea_popescu: if i were runningtheir outfit i'd rend out a warehouse with a good triphase line
mircea_popescu: Diablo-D3 i don't see them using a dc honestly.
MJR_III: like i always say, if you are not bullish on bitcoins, why start a company in this space
MJR_III: trust me, i understand the problems with trying to get the scale you need to make things worthwhile
smickles: 17590762.3519516 btc volume this year, if i mathed correctly
MJR_III: yeah i could see that
MJR_III: and i believe that some of the fees is in dollars and some in btc...not sure how they work that out
MJR_III: i've been watching for a while
MJR_III: they make well over a million a month i think
mircea_popescu: i dont think theior avg is 150 a day.
mircea_popescu: MJR_III simply like this : i look at the immense fees.
smickles: i would use bitfloor more often if it weren't for that debt
MJR_III: and i think poor choices as far as resolving that
MJR_III: i am already working on an engine
MJR_III: so...there is a reason i can buy something on one exchange and instantly sell it on another
Diablo-D3: I think I just pwned someone.
mircea_popescu: MJR_III that is a good point actually. i have no idea why everyone's so hell bent on being special unique etc.
jcpham: i've been building a porch all week
jcpham: i dunno
MJR_III: yes i agree
MJR_III: i agree
mircea_popescu: as backed by bitcoin, i can see a use for usd/eur/etc
mircea_popescu: i pay for undies in cash to this day
mircea_popescu: smickles lol i think hr mom painted those
MJR_III: i don't think the dollar is going anywhere for a long time
mircea_popescu: jcpham i thought you mined
MJR_III: or should I say USD that they can withdraw as cash
MJR_III: um...i think that the volume on the exchanges would beg to differ jcpham
MJR_III: i read that one before
mircea_popescu: i imagine the practical way this will work will be the magic cash dispenser
MJR_III: but i don't want to hold my cash in bank, i want to hold bitcoins in my wallet
Troic: your, hmm, i mean their
MJR_III: but that is why i think that this does an end run around that problem
MJR_III: i read it and i agree
mircea_popescu: i hate to be that ass who keeps linking his articles, but i hate repeating shit more. so MJR_III , ever saw http://trilema.com/2013/bitcoin-prices-bitcoin-inflexibility/#comment-92015 ?
mircea_popescu: i still don't think bitcoin is adequate for the retail space
MJR_III: i think to drive local adoption, you will need to have two-way bitcoin atms spread locally
MJR_III: but i think that that will rely on an efficient and stable exchange
MJR_III: i think bringing efficiency to the exchange mechanism is going to be the first step
MJR_III: its an interesting challenge, and i think its a testament to the strength of bitcoin that it survives bad management
mircea_popescu: i don't see that it is a business at all.
unbalanced: Bear with me, I'm just wondering... is this a viable biz for that script kiddie, or maybe a team of 4, at these levels? Is it a good start or is Mr. Bitmit wasting his time?
mircea_popescu: you have five minutes to find me a way to spend 10 btc on items that i could conceivably use during the remainder of 2013
unbalanced: So... in this case, bitmit.net (they need a better domain at least, I've mistyped it 3 different ways now) apparently has 17029 listings.
MJR_III: i think that one of the problems is that the current marketplace loves fuzzy things like "social networking" and pretty websites
mircea_popescu: i can usually sniff out a half decent manager from a mile away
MJR_III: i would say that it is not so much even their experience (though that is helpful) but rather the fact that they are good at doing what they set out to do
mircea_popescu: i care whether he's a doctor.
mircea_popescu: i don't care how much profit the doctor's office makes.
unbalanced: Yeah our posts crossed. I read ya.
unbalanced: As a guy wondering what my place is in the BTC economy, I take that stuff to heart and try to remember it.
unbalanced: mircea_popescu: I've read your "recognize you're an idiot, noob" posts re: BTC businesses and 100% agree.
unbalanced: A lot can change in a month I guess. And people say bitcoin is volatile.
mircea_popescu: unbalanced basically it's yet another rehash of the old and by now stale "i wrote a script therefore this is a business".
unbalanced: Ah... so does bitmit not cut it or you just hadn't seen it or still plenty of room for competition I guess?
unbalanced: I think someone mentioned building an eBay-killer here this week but now I can't remember who/when/what
mircea_popescu: bugpowderr ya i thought so.
OneMiner: Umm.... I don't think so dood. Site it or it didn't happen.
OneMiner: jborkl I think you're reading that wrong.
jborkl: I have been through quite a few lower diff levels and it adjusts at two weeks
deadweasel: ThickAsThieves: I didn't catch that. So they might have a diploma from Spain, but want a US one.
ThickAsThieves: tahts why i ask if there is demand for a "US" diploma
Chaang-Noi: well gents, tomorrow i gotz to travel so im off to bed, call me if we get close to 100
thestringpuller: I think as old money enters the btc economy, due to lack of regulation people like mircea_popescu will take their money pretty quickly