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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
mircea_popescu: that shit where you're 95% invested at age 30 because whatever, you'll make more stiictly depends on fiat being paper.
mircea_popescu: doesn't have to be the personal you. the theoretical you, as described by must always eat cake
mircea_popescu: so, are all your btc currently invested in like stocks and shit ?
mircea_popescu: mike_c hey i wanna argue with you some more. you busy ?
mircea_popescu: kakobrekla: <frankenmint> like if the market goes sideways then use arbitrage otherwise play swing trades < yes make it so if the market goes sideways then use arbitrage otherwise play swing trades << the humour of this has not been lost on me.
mircea_popescu: frankenmint: why couldnt i simply pass on the link directly to the cli << you could open the link in a browser and past the contents directly to the cli
mircea_popescu: benkay just sayin', you never know what the REAL purpose is.
mircea_popescu: imagine, a whole people of men who don't have to worry about their thin spot anymore.
mircea_popescu: by the way, whilke going through bsas' jewish quarter today it occured to me : what if the yamaka exists solelyto hide baldness ?
mircea_popescu: BingoBoingo nah, it'll be yet another famished dc lawyer.
mircea_popescu: if you gave your name, the policeman was not at liberty to doubt your word.
mircea_popescu: pankkake: but you give them your name!! it must be true :) << actually this is how england worked, back when it was still a respectable country, up until the socialist revolution of the 80s.
mircea_popescu: it'll have a special crest with an eagle holding cocks.
mircea_popescu: in a few years it'll be practically speaking la serenissima vs a horde of mindless zombies controlled by the secretary of crypto, labour, housing, healthcare and other human services
mircea_popescu: BingoBoingo so far, it'd seem the playbook of the vc twerp is, "1. eat as much conference rubber duck as possible ; 2. show trial ; 3. become usg informant"
mircea_popescu: davout: yup, they're blessed with this situation where they have a financial entity backing them, but lets them do the kyc diligences themselves << dubious blessing.
mircea_popescu: benkay: and the best question yet: why are any of these fuckers still making noise? << apparently, lack of any sort of conservation instinct.
mircea_popescu: anyway, this unearthed a bug in the credits script so you get double credit mthreat
mircea_popescu: i had no idea they did that, moreover, pretty sure they didn't USE to do it.
mircea_popescu: bitcoingirl: i think Kraken and circle are the drivers of the operation << SV "Bitcoin" VCs are quickly becoming this place elephants go to die.
mircea_popescu: BingoBoingo the bestpart being that the susie chick is practically nobody anyway.
mircea_popescu: kakobrekla: no coinbr account? then one must resolve to hookers. << you mean resort yea ?
mircea_popescu: the tarzan kid or w/e his name is has started a trend nao
mircea_popescu: im starting to suspect davout has been sleepingon the couch for like a week