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mircea_popescu: <jurov> you know how they do it? they repeat a referendum until they get Yes << and then wonder why bitcoin doesn;t care what they think.
mircea_popescu: <kakobrekla> hmm i think i had a good reason regarding that lemme think << pwned.
mircea_popescu: im just this guy that keeps naming things after himself in a vain but ultimately doomed hope of surviving thusly.
mircea_popescu: ruined a reputation, lost a stash, either of these'd have been worth millions in the future.
mircea_popescu: had the man just been patient, something like mpif would have been exactly right for him. but instead... had to get involved with cypher-whatever it was.
mircea_popescu: "On February 22, 2010, the company approached the city of Phoenix, Arizona with an offer of $10 million to rename the Sky Harbor Airport to Ashley Madison International Airport for a five-year period. Even though the city was in financial trouble, it rejected the offer."
mircea_popescu: there is no shared anything among people of different intelligence.
mircea_popescu: i suppose one could imagine this far away island where the greatest delicacy is pubic hair lice
mircea_popescu: with this large amount of good quality lulz we should see an uptick in price
mircea_popescu: "Hello mrWDunne please advised real offer is mine hassan wants to only delouse you."
mircea_popescu: then im all like... o wow check out how fucking smart this dood is!
mircea_popescu: bounce no because most of the time i don't remember what i said
mircea_popescu: note tho that they're my shares, if i sell them under nav... well... tough tits for me.
mircea_popescu: i have, for like... i dunno, a year or two ? BILLIONZ OF LINES!11
mircea_popescu: and it may jump further up, according to what experience will indicate
mircea_popescu: mike_c well that's the one good argument for increasing the berth there, actually. 1.5% may be too narrow,
mircea_popescu: mpif may definitely end up with a large cash balance, but this would be a negative commentary on the btc financial space, rather than on mpif itself.
mircea_popescu: if nav is 220 next month, the price goes up for the shares too
mircea_popescu: apple for that matter carries billions in cash, so does berkshire, so do all powerful corps.
mircea_popescu: so yes, it will carry cash. not that much, but in fact just about what's usually considered prudent in fiat.
mircea_popescu: except this example is 1 pc and mpif has 5, and this example has a shock 15% month, which mpif prolly won't ever have.
mircea_popescu: at t=2, the sole manager that seemed to have been making a 15% gain runs off with the whole shebang.
mircea_popescu: on model B, the spot gets stuck at 101.5 while the capital of the fund swells to 50 btc, of which 10 allocated to pc1.
mircea_popescu: now, on model A, the spot tracs this, and the share trades at 115
mircea_popescu: at t=1, the sole manager seems to be making a 15% gain
mircea_popescu: suppose vpif has 1 pc, with 10 btc. at t=0, the share goes for 100 satoshi.
mircea_popescu: let me make an illustrative working model by what i mean by the size breeds security thing.