329100+ entries in 2.604s
mircea_popescu: pity asicminer didn't have its shares up, it'd have made
a killing.
mircea_popescu: "Chinese new year or not this
a bad time of year to rely on devices that rely so heavily on parts from countries that celebrate the near years and the up coming spring festival."
dub: its seldom productive to rub peoples faces in their own shit, expecially
a bunch of nobodies
mircea_popescu: "Can someone with
a seat on the board say if they're getting more update than that ?
dub: maybe its
a browser problem
dub: the asset list is the market page? its just
a list of btc addresses with stock balances
dub: im sure I saw
a market page on bitfunder yesterday
mircea_popescu: moreover. if you scare some dood away, could he have been
a journalist ?
mod6: someone needs to set these guys straight. and she's been spot on for over
a year.
mod6: i thought it was
a good round up
jurov: i don't watch it much, but i saw todays' match in
a gym so it occurred it to me
Namworld: Okay... they manage 1 billion... that website is so basic... They probably pay
a premium for the website and they manage to screw up the contact us link...
Namworld: But, in all seriousness, I just made
a 40 BTC withdrawal request.
Namworld: Oh, I'm sorry for the misunderstanding, I probably hallucinated my previous withdrawed bitcoins. Have
a good day sir.
Namworld: Well agreed that as
a vehicle for transfer of value for large transactions, bitcoins would be ideal.
mircea_popescu: bitcoin exists so
a guy in china can be paid for 10 containers of tvs
mircea_popescu: the most expensive customer in the world is the guy buying
a 3-9 dollar trinket over the internet.
Namworld: The owners just has to work for it. But I think that's
a work/reward ratio that's still attractive.
Namworld: That you have
a 20% margin and your large competitor has 30% matters not if you get enough sales at 20% that you get
a nice yearly earning.
mircea_popescu: in general it's irrational to expend your resources at
a comparative disadvantage.
Namworld: Your margins are lower for the business, but the profit is better for the owner. As for employees, they're probably paid
a similar pay.
mircea_popescu: im sorry, you must be from an alternate universe. why would i be doing something at
a competitive disadvantage ?
mircea_popescu: small businesses are either
a) going bankrupt (happens to 90% ish of them) or else in
a new niche.
Namworld: Just as I see small providers competing with larger corps with better services. They still turn
a profit and stick around.
mircea_popescu: and even those have been taking
a beating of horror past 10-20 years.
mircea_popescu: go try and complain to your phone company, as
a fuine example.
Namworld: but those costs are very close for
a chain convenience store or
a personally owned one, for example... there's plenty of non-affiliated small businesses handling small transactions left.
mircea_popescu: think in terms of girl looking for
a husband. does she care if he;'s lucky or smart ?
mircea_popescu: there's
a reason for chains and franchises and payment processors being centralised
Bugpowder: was from one guy starting with
a 0.01BTC bet on less than 16000, and doubling it every loss
kakobrekla: >>See that picture ? The poor schmucks in that picture are likely more intelligent, more dilligent and generally better human beings than Gobry. Unfortunately for them, they didn’t have the obscene good fortune of being born in this part of the world. As
a result, they’re dicking around packing mud while this worthless fuckwit goes about farting self-delusions of “strategic global
Namworld: using phones to pay in bitcoins wuld be feasible for
a much lower fee than the credit card conglomerate/payment processors are trying to offer.
mircea_popescu: all im saying is that the average small biz does not find itself in
a position to do this.
mircea_popescu: you need to be
a multi-billion corp to process sub 10 dollar transactions effectually.
mircea_popescu: in principle, for every degree of magnitude the transaction goes down, your fixed costs go up one and
a half.
mircea_popescu: if you aggregate one billion of them you can squeeze
a little profit
kakobrekla: its same with anything thats more than
a stick and
a stone and many people use
JohnGalt2: Namworld:
A lot of the stupid people don't want to have fancy internet money without having
a possibility to reverse transactions
mircea_popescu: their business is very expensive. rape-them-in-the-ass corps like banks etc are very good at keeping their idiocy expensiveness low while turning
a buck
Namworld: Probably not that great
a comparison. But they don't need to know that much about it. If they didn't have such misconception of Bitcoins, they wouldn't oppose using it and could use
a third party processor. Yes, there's still the payment processor, but there's less fees and it doesn't support the archaic closed credit card/banking system.
JohnGalt2: if btc benefits from
a dead satoshi, then let's kill him?
Namworld:
A bitcoin for dummies kind of thing...
kakobrekla: im gonna open
a chocholate beer i think
mircea_popescu: "Bitcoins, in theory, could become the next universal currency. However, they are
a pain to obtain (if you're not buying them outright) and the security model could use some work."
mircea_popescu: "What makes it possible to buy drugs with Tide is not because Tide is useful as
a detergent. It’s because drug dealers and users have agreed that it is currency."
Ukto: hadntl played bg in
a long time
Ukto: it will take me
a few days to test
Ukto: thestringpuller: havent had
a chance to test
mircea_popescu: dude. the absence of
a bookie means you're not being fucked in the ass.
mircea_popescu: thestringpuller
a little more complex system, it's in teh contract.
dub: somebody in #bitcoin
a few hours ago said they got an email from BFL yesterday quoting
a march ship
mircea_popescu: cause at least they don't have
a bunch of customers pissy
gigavps: asicminer still has
a month to get theirs up
Anduck: except i got
a few asicminer shares
gigavps: this bASIC drama is
a bit overwhelming
dub: and
a rig chassis with
a nexus 7 on the front
JWU42: they have
a working prototype at CES?
Anduck: they could even resell them with permission as
a part of their own product
mircea_popescu: Bitcoin Flakes Laboratories consist of
a solitary man with
a messy apartment which may or may not contain
a chicken.
mod6: jurov: pass me
a glo stick
mircea_popescu: kakobrekla that's why you have
a bunch of sitcom people doing "entrepreneurship" rutines these days.
mircea_popescu: i guess in
a backwards way the futures uptake is
a measure of btc/fiat decouplement.
smickles: mircea_popescu:
a problem with them is that btc are expected to rise, so buying those futures is like cashing out of btc
mircea_popescu: there's about half
a dozen, but mpex has 9x% of the volume
Namworld: He got
a small team of unkown size
Anduck: i'm just telling irl friend about you and MPEX and how much one can make btc in
a month by owning such exchange
Namworld: dub, 2538.7395 BTC is more than I make in
a year.
Bugpowder: LOVE when your bid is the last bid hit in
a dump
dub: more than you make in
a year?
Namworld: Not bad? Still more than I make in
a year.
topace: if they're paying 30BTC to open
a mpex account, they can pay 10btc for us to move their shares over
topace: if someone builds up slowly
a lot on havelock and realizes they dont want to pay us the 5% of their dividend anymore, they can get us to move the shares to mpex
mircea_popescu: lolz. so basically, the only way it makes sense to get
a push is if you own more shares on havelock than it'd make sense to own.
mircea_popescu: Units of the fund ARE convertible to shares on MPEX at 1 unit = 100 shares PUSHED to your MPEX account for
a fixed fee of 10 BTC per transfer (fee subject to change). Contact us by email to initiate
a transfer.
topace: that was the test one, lets see if
a "live" one works
dub: EskimoBob: substanciate that comment or entrench your reputation as
a moron
mircea_popescu: Anduck not afaik. they however have
a different model, whereby they don't deliver items
dub: this is obviously not
a german