308200+ entries in 0.057s
mircea_popescu: and an appalling fraction of the over 30 crowd to boot
mircea_popescu: and now y'all are better qualified risk managers and generally speaking financiers than pretty much everyone under 30 on ws.
mircea_popescu: that's why you don't let derps build unstable skyscrapers. not because the thing WILL fall, but because the thing MIGHT fall
mircea_popescu: but the cost of everyone on the street insuring against being fallen on ? 1mn over 10 years.
mircea_popescu: bitcoinpete consider the case of a street where some idiot builds an unstable skyscraper.
mircea_popescu: <asciilifeform> from a different angle: why no cheap factorygurlz in usa? because the 'candidates' are instead paid to sit and wank << false. the cheap factorygirlz in china come from families which have cared enough about them to invested beatings and other very valuable time.
mircea_popescu: generally, the sooner agents are brought to their knees the less blood gets spilled.
mircea_popescu: if there were no pirate and no silkroad whatshisname, the usg wouldn't be tempted today by the very dangerous heresy that "maybe it can make it on its own"
mircea_popescu: vs the 50 idiots who bought pizzas and lost wallets and whatnot.
mircea_popescu: consider group 1 of 50 idiots who "invested" with pirate, thus creating for me the problem of there existing a pirate, something im still dealing with.
mircea_popescu: whereas group 2 just spends it, therefore merely wasting resources.
mircea_popescu: benkay because group 1 was "investing it" therefore wrecking capital allocation
mircea_popescu: but the reason these derps are on kickstarter and bitcointalk instead of whatever mine isn't that they had enough money and bought their way out.
mircea_popescu: as long as the scammers actualy waste it, rather than keep it, this is financial sterilisation.
mircea_popescu: asciilifeform that's the minor part of the binomial. the major part is that it is removed from folks who shouldn't have had it.
mircea_popescu: which is kinda why the headlines read like they did, a few years ago. "x bank writes off y bilions"
mircea_popescu: the most important economic activity in a runaway inflation macroeconomy is the writing off of bad debts.
mircea_popescu: of course, actually wasting money is a net positive for the us system.
mircea_popescu: we're in postmodernism here, and so therefore postsanity.
mircea_popescu: asciilifeform sane people also aren't on kickstarter, nor do they think everyone's their peer, nor do they think they have something to "contribute" in random fields that never heard of them.
mircea_popescu: the problem with kickstarter and the shit trying to copy it isn't that it wastes a lot of money, but that it wastes it pointlessly.
mircea_popescu: assbot: Kickstarter project spent $3.5M to finish a working prototypeand ended in disaster | Ars Technica << punkman to be fair, that's not really either important or making a lot of sense. sometimes prototypes fail, which is why they're called prototypes. i don't think you can find any item which didn't have millions "wasted" in prototyping
mircea_popescu: "I will rape you fucking partridge. I am more legit then you. I am sure that your account is hacked and you are not the one you are trying to show. Shut up there or i will fuck you in hole"
mircea_popescu: "Huge investors are consolidating here, that's good sign. You found this topic very fast. Excellent. Big things in work."
mircea_popescu: "My contribution in the innovative structures last years filled out 88% of my time."
mircea_popescu: the consumer end is cursed to be forever consumer facing.
mircea_popescu: it won't soon end. next move is rap derps going on about their bitcoin creed
mircea_popescu: "I am Mr Ricardo, one of the first bitcoin miners early in 2009, prosperous engineer, social policymaker and developer of different marketplaces everywhere in the network."
mircea_popescu: does that mean his connection is slutty, fucking around, and he should fix, ie castrate it ?
mircea_popescu: ;;later tell rhoruns did you go by that nick in astonia ?
mircea_popescu: cazalla fail school of whoring, "gotta pretend like it's hard"
mircea_popescu: TheNewDeal we'll just think you got the webcam open on the other monitor.
mircea_popescu: exactly for the reason and through the mechanisms any good investment is its own limiting factor.
mircea_popescu: people pretend to ignore the fact that human life, like all life, is an exercise in exploring the possibilities. as you increase the population you necessarily lower the averages.
mircea_popescu: once the population is 50 and per capita avg attention available dropped to .95, you're short already
mircea_popescu: so if population is 5 and per capita avg attention ready to be paid 2.1, then you have 2.1x as much attention as needed.
mircea_popescu: think about it... every new human has the same basic needs, but as you keep adding them to the long end of stupidity they don't actually add a full measure of attention.
mircea_popescu: if you want everyone to be able to pretend they're cool, it'd be horrible.
mircea_popescu: if you want the babes to be REALLY impressed with your car, then it would be a pretty sweet thing.
mircea_popescu: no fucking parking lots. 15k a month to park your car.
mircea_popescu: decimation do you have any idea what size constraints that;'d put on say la ?
mircea_popescu: tbh i don't get that bitcoinnews article. wtf is it supposed to be ?
mircea_popescu: i have no idea how "draw" odds are supposed to work on all these betting sites tho. this is the wc final, wtf draw ?
mircea_popescu: im seeing germany at 11/8, !germany at (23/10 + 5/2). this comes to 1.375 for, 2.5 against.
mircea_popescu: which is an atrociously bad movie i had the misfortune to watch earlier.
mircea_popescu: asciilifeform no, actually, it's a commentary of "waiting for a midnight kiss"
mircea_popescu: page 8 has other interesting statisticts. 156 cases, 9 convictions
mircea_popescu: 250k is about... roughly 30 btc, at today's exchange. covers five years.