317900+ entries in 0.233s
mircea_popescu: Namworld Because let's face it 1. The brain is mechanical << you know what else lets-face-it-is-mechanical ? the fucking atom.
mircea_popescu: Namworld: fluffypony, the real world doesn't care about reality. << more like the reverse. reality doesn't care for whatever set you happen to have mislabeled as "the real world". probably a selection of terminally unemployable couch surfing webexperts.
mircea_popescu: let's not blame the wrong gal for people's brains turning to shit.
mircea_popescu: this is how england worked, back when it was still a respectable country, up until the socialist revolution of the 80s. << lol if only margie t. heard you << "During her premiership Thatcher had the second-lowest average approval rating, at 40 percent, of any post-war Prime Minister. "
mircea_popescu: Namworld: What kind of checks can they run at all anyway? Dox people? Seems limited to that. << if they don't know why are they pretending to be in business ? "oh, doctors should diagnose people not feed them random pills" "what diagnose can they do anyway"
mircea_popescu: so was this a kinda lame attempt at social engineering or what.
mircea_popescu: smickles if it's <1 they justcan't self voice anymoar.
mircea_popescu: we even have a secretary now, with a phone number and everything.
mircea_popescu: haha. i don't even recall, where you here when logs were introduced ? the bash ?
mircea_popescu: you gotta id with gribble then pm assbot !up to get permavoiced.
mircea_popescu: TheNewDeal becase back when bitbet was invented we didn't have an0 yet.
mircea_popescu: which is why the stability of the investment universe is actually drastically more important for bitcoin than for fiat.
mircea_popescu: which brings us to the problem : because bitcoin is fixed, a 95% investment situation will be unavoidable statistically. as the value of all paper will much exceed the value of cash btc available, willy-nilly.
mircea_popescu: mike_c well amusingly enough i actually am holding tons of paper. just, it's to a large degree my own.
mircea_popescu: soyou know, gotta take what the man says with a gtain of salt.
mircea_popescu: he also says that he's not going to discuss his strategy given that it's valuable and easily replicated
mircea_popescu: and in that context, a large capital base works you no harm.
mircea_popescu: this is why i introduced the bitcoin gambling thing. to point out that the world is a snowglobe whether you are big enough to notice or not.,
mircea_popescu: but would be the opportunity of a lifetime for a random girl off twitter.
mircea_popescu: like you know, a dribblet of cum i spilled on the floor is something my well sated slaves ignore
mircea_popescu: it's a waste of everyone's time, just, others don't have the luxury to notice.
mircea_popescu: or, there's benkay's ocean mining conglomerate, which will gain 10% over the same decade
mircea_popescu: mike_c well, there's this chain of pizzerias, which will be doubling each year for the next decade, yielding a bunch of pizzerias.
mircea_popescu: to put it another way : behind door A there's a bacterium. in the proper agar it doubles every half minute. behind door B there's a naked buxom beauty. you can pick either door, the prize will be entirely yours to dispose as you please.
mircea_popescu: the fact that you don't want to do it doesn't mean it's been removed.
mircea_popescu: as a smart guy you can still say all thestupid shit you may want to say
mircea_popescu: as a hot guy you can still fuck all the ugly chicks you want
mircea_popescu: this is precisely why i said earlier 200bn isn't the concern. the bigger you grow, the more deals are exposed to you.
mircea_popescu: EXCEPT if you're worth ~7 mn btc. then the deal is actually fair for both ends.
mircea_popescu: in fact, the poorer you are, the further your fair deal is forsanity
mircea_popescu: mike_c now obviously as fair as this deal would be to you, it's still not particularly fair to jd.
mircea_popescu: but if you were proposed to either lose all your btc or win all the btc there are, then it'd be a fine shot ?
mircea_popescu: mike_c now, could we say that since you're proposed to either lose all your money or win 100 btc this deal isn't very good,
mircea_popescu: consider all you have is 100 btc, and jd offers you a shot at 200 btc. would you take the deal ?
mircea_popescu: the more a % of your stake the income is, the more risk you take.
mircea_popescu: TheNewDeal now model a beting situation where you also have income
mircea_popescu: actually that's not particularly concerning, the size.
mircea_popescu: i wouldn't want to be in his shoes. he's saved by old age, and by the fact that business cycles used to be slow.
mircea_popescu: the class risk is exactly that. he's now stuck derping about how "america will prevail"
mircea_popescu: the class risk is that in general, all the fashionable stuff in any space tends to go belly up together a lot more than a "unrelated" model would seem to indicate.
mircea_popescu: ie, they're not likely to be unrelated, whether you know this or not.
mircea_popescu: the reason the theoretical you wants to buy "shitty" investments is that buying all the good investments and only those exposes you to a class risk
mircea_popescu: recently killed himself, over the net results of the wrong answer to that question
mircea_popescu: french aristocrat from a family that had been doing banking for centuries
mircea_popescu: can't fucking argue with you without a degree in mikeity.
mircea_popescu: anyway, what i had in mind just got shot because i wasn't expecting you to be this reckless :D