314300+ entries in 2.427s
cads: I believe I am creating this exchange as
a gift to the community
mircea_popescu: it's not
a crime, it's business. stuff i sign off on does better in the marketplacer
mircea_popescu: the other definition of moral support however is as to third parties. you can't go around saying "i'm working with mp on this" unless we actually have
a deal of some sort.
mircea_popescu: it certainly possible to build
a ltc/btc futures market.
cads: mircea_popescu: I believe that what
a student can do greatly increases even by having
a teacher that says 'it is possible'. Moral support means philosophical and encouragement. It would mean
a great deal to have whatever positive, constructive input you wish to provide. When we provide others with moral support, we do it only so far as it helps our reputation or internal sense of gratification at having helped someone.
mircea_popescu: (people, being donkeys, know better, so they continue getting owned
a la coinbase)
cads: mircea_popescu: sounds like
a reasonable protection
mircea_popescu: if you think about it, this is proprietary sowftware which constitutes the main tangible asset of
a corp mkt-valued at about
a hundred million dollars.
MJR_: i was just drawing
a parallel to the scripting aspect of bitcoin transactions
cads: eventually when I can model arbitrary contracts, they will be implemented as
a non-turing complete contract-composition syntax
MJR_: could he use
a non-turing complete forth-like scripting language?
cads: mircea_popescu: I am
a mathematician, not
a coder, so I don't expect this project to succeed without some serious help. I have the whole #haskell community. I have 5 years of haskell. I can use ruby, python, php etc for frontend. I will rework my ideas on attribution and profit share (it may be best to arrange that I profit financially from
a successful completion). Will this be
a project you can provide moral support to?
cads: Speculatively, haskell provides
a direct path for producing code that is verified mathematically correct
cads: Scrat: I agree writing the code in haskell would make the software obscure. However I know
a number of derivatives design and valuation packages that run in haskell. Haskell has great support for financial contracts.
mircea_popescu: and put
a plain warning in the about file, this is what this is.
mircea_popescu: so the most reasonable thing to do is set
a clear sum of your own pocket aside as guarantee (10 btc, .5 btc, w/e)
Scrat: cads: haskell would be
a bad idea. only
a few people in the world would be able to read it
cads: mircea_popescu: this is part of what I consider my "free work". Some people do
a finance internship. I will build an exchange.
cads: I agree. I would be asking essentially for 'gratis' financial consulting. Not
a winning proposition for you by any means.
mircea_popescu: finance consulting is finance consulting, more expensive than hiring
a lawyer,
KRS1: it was
a big fiasco and admittedly exciting back then
KRS1: so they paid him
a visit..
KRS1: mircea popescu: yeah there was
a lot of publicity on that..I'm good friends with the guy who caused it..it seems homeland security was on the same network he was killing for 3 weeks
cads: mircea_popescu: this summer I will work towards implementing
a marketplace for BTC <-> LTC futures.
cads: mircea_popescu: I have
a help request and project proposal for you.
mircea_popescu: Scrat i bet the forum will be full of people saying "thank you mpoe-pr for warning us not to trust these muppets
a month ago"
Scrat: [14:22] <sydna> 229BTC worth of
a drug called ""AVALANCHE SPA POWDER"" - ie. the kind of quantity the feds might be interested in.
KRS1: reminds me of back in the day with foonet mafia..its been
a while.
KRS1: im not sure cloudflare KNOWS how to protect against dos, they just seem to put up
a maint page if it gets too bad
KRS1337: this can cause
a major sell mentality with people
gribble: MtGox lag is 1.238126 seconds. During this time, light travels 0.00248119064125 AU. You could have sent
a bitcoin across the outer diameter of Saturn's rings (0.0024 AU).
gribble: MtGox lag is 15.922054 seconds. During this time, light travels 0.0319076179438 AU. You could have sent
a bitcoin ten times between Earth and Moon (0.0257 AU).
bgupta: umm it means that you need to read what the difference is between
a market order and
a limit order
KRS1337: if I want to sell btc but gox is lagging really bad does that mean i get
a really bad market price or my sell orders might not go through?
gribble: MtGox lag is 0.702306 seconds. During this time, light travels 0.00140741336059 AU. You could have sent
a bitcoin across the outer diameter of Saturn's rings (0.0024 AU).
gribble: Error: "bc,24hbrc" is not
a valid command.
mircea_popescu: at the time i'm saying this about ltc, 1. ltc is
a copy of btc with no actual advantage and 2. i'm not ignorant.
bgupta: mircea_popescu: Arguably one could have said the same about btc 3 years ago… IE: Many claimed btc was
a big ponzi scheme that created value out of nothing.. I'm not convinced but there may be value in having more than one cc.
KRS1337: ya thats
a good thing..i have no long term interest in ltc..just wanted to throw
a buch down right quick but did not expect this
KRS1337: hmmm maybe i can buy
a ton right now
bgupta: it's pulled back quite
a bit as people who bought ltc at very low prices are taking profits
jurov: KRS1337: i had quite
a few ltcs bought year ago stashed at various places
gribble: MtGox lag is 0.270389 seconds. During this time, light travels 0.000541856528574 AU. You could have sent
a bitcoin to the other side of the Earth, along the surface (0.0001339 AU).
bgupta: So are the bot algos relatively public? Trying to understand why some spreads are so wide and others aren't? Or are the less tight spreads situations were there is
a human counterparties on the book?
bgupta: You guys don't even directly compete, so that makes comparison even harder. Anyway this is turning into
a bit of
a rathole.. IE: we are probably not going to change each others opinions.
bgupta: well it depends on what your criteria of comparison is… If
a pretty site is the criteria, they win.. if never having been hacked is the criteria you win. It's not balck or white.
mircea_popescu: obviously he doesn't have
a prayer in hell to compete seeing how he handles < 1k and i do over 1k. of course my service would be better.
bgupta: (I was third level support, and it generally took
a long time to get to my desk, and if it did it wasn't trivial to solve.
bgupta: I think that they are at
a scale that they are using "helpdesk staff" that are largely following scripts.
mircea_popescu: then again i guess that's asking
a little much, they probably don't have the technical ability to do anything other than read tickets from their host.
mircea_popescu: it says specifically what i wish from
a service that aspires to be halpful.
bgupta: well, their PR matched my read on the situation, as
a number of btc sites where were being hammered at that time.
mircea_popescu: it also means that the ONLY cases where
a ticker takes over 20 minutes is when either
a. there's no info or b. there's an outage and the ticket relates to the outage.
mircea_popescu: that people in general read crap like their recent release and think something was said is
a property of large crowds of people.
mircea_popescu: they're horrible communicators, with
a long history of such incompetence.
mircea_popescu: it also means that the ONLY cases where
a ticker takes over 20 minutes is when either
a. there's no info or b. there's an outage and the ticket relates to the outage.
mircea_popescu: This means that ALL tickets that are properly spelled out and affect
a single user are handledwithin 20 mintes.
mircea_popescu: what he said was : "Most open tickets have
a resolution within 20 minutes. Remaining cases are when there is not enough information, or when issues are not simple user-specific issues (or linked to an outage)."
mircea_popescu: which makes him
a liar (again, for that matter, no big deal, it's banal by now)
mircea_popescu: but if you're curious, do
a search for mtgox, see what turns up.
bgupta: Your evidence that they lied is
a post from you claiming that they lied.. oh, mpoe-pr isn't you?
mircea_popescu: when mtgox hinted to
a dddos there's nothing but pr fluff.
bgupta: They were very transparent about their screwups leading to the theft of
a large amount of btc.
mircea_popescu: Apr 05 06:06:48 <ThickAsThieves> mp, did you do
a hacker bat signal to ddos mtgox on the rally to 147?
mircea_popescu: <taub> they've been doing this for 30 years tho << ya. but 30 years ago they had
a productivr workforce. now they got suicidal teens and otaku young adults
bgupta: SO was thinking about the exchange problem… what if Morgan or Goldman bought half
a million bitcoins and issued an ETF and let it trade on
a standard stock exchange… It would kinda solve some problems, while creating new ones.
denialdenial: the oldest con in the book is to invent
a problem and then sell the solution to it
bgupta: they would go to
a handful of exchanges for trade..
denialdenial: how do you stabilize
a queue of 10,000 people wanting to buy something
bgupta: it would only shift if cartels wanted to keep their stashes in btc.. and I'm not so sure that would be
a good thing for btc… IE: governments might use an excuse to outlaw
Cryptrader: If BTC becomes
a true currency - as businesses slowly adopt it, you will have no reason to exchange them back for fiat
denialdenial: as long as any exchange stays operational they are going to cost you
a lot of money
bgupta: I don't think so… if there were
a crash, I think buyers would come out in droves..
denialdenial: i would expect the japanese to at least make
a trillion dollar samurai sword or something
B0g4r7: I think the only reason
a lot of ppl use pp is because it made international payments easy.
denialdenial: the author reason we're on
a $900+ dollar correction right now
denialdenial: i was reading
a reddit post comparing bitcoin to paypal earlier
ChaangNoi: i bought
a bunch of yen
a while ago, made 20% in 2 years, sold it howevere
B0g4r7: OK, so not an order of magnitide, but still
a lot more.
bgupta: Don't know about
a good channel, but you are in
a channel. ;)