338000+ entries in 0.103s
mircea_popescu: not necessarily strong enough for it to happen too often, or even at all. but factually, it does exist.
mircea_popescu: there does in fact exist *an* economical reason for things to play out that way.
mircea_popescu: yes, but as a model, this is the economical reason you were asking for earlier.
mircea_popescu: and moreover, the entire point of the economy is to close the zero-infinity price window as soon as possible.
mircea_popescu: one is that a competition on operational efficiency has been transformed in a simple financial competition of "who can support dumping longer"
mircea_popescu: this will drive new competitors in the market, of crouse, but the system has two major problems :
mircea_popescu: as a de facto monopoly, Y can now charge infinity for X.
mircea_popescu: however, if dumping is allowed, then company Y could sell product X for 0. inasmuch as none of its competitors have more money in the bank, they would necessarily go out of business.
mircea_popescu: whoever manages to produce x as defined cheapest wins most of the market.
mircea_popescu: admitting for the sake of argument that competition happens on measurable parameters of defined products, all businesses will normally compete on operational efficiency
mircea_popescu: wywialm let me formalise it for the sake of public discussion.
mircea_popescu: (for the exotically curious : parliament passed a law, guy went on tv to say the law fucking sucks, president called in to say well why didn't you tell me! let's iron it out!". it was a sight, the whole thing. )
mircea_popescu: this is pretty much how the guilds ran things, back when european economy actually worked. it's how romania runs emergency medicine, thge guy's name is raed arafat.
mircea_popescu: bounce the only way i see this to be approachable is the medieval method (still used in romania for emergency medicine say) : you hire a boss. he does whatever he wants.
mircea_popescu: public transportation is perhaps the best way to drive that entire argument.
mircea_popescu: omfg, this is beyond cute. the derps on tardstalk actually tried to like... fud s.mpoe ?!
mircea_popescu: this would be the first time reddit scammed teh btc public then ?
mircea_popescu: which is teh deep reason the western world slid into socialism past century or so.
mircea_popescu: anyway, as technology frees more and more time, people can't resist the temptation to try and feel it with a delusion that they actually matter.
mircea_popescu: this entire "oh but we know better" bs is simply mindboggling.
mircea_popescu: the state has absolutely no business in economy at all.
mircea_popescu: wywialm i know you aren't, but stating it for teh record.
mircea_popescu: and for that matter they are well aware of this, hence the entire "conquer education by federal grant" programme past 20 years
mircea_popescu: merely the presence of "government contracts" in the us renders entire sectors state controlled/planned
mircea_popescu: we don't buy that in court, so why would we buy it otherwise.
mircea_popescu: like if you keep a girl tied to a post in your basement and only rape her when she's not... willing, i guess you'd call it ?
mircea_popescu: wywialm arguably. just like rape always and rape sometimes are ostensibly a difference in principle and not only in quantity.
mircea_popescu: btw, someone with a forum account drop a line to salty / the artist
mircea_popescu: ;;everify freenode:#bitcoin-otc:55114a79cafe0a548c8c138fea790f6468e25914906b2aa5e2198e6e
mircea_popescu: wywialm i fail to distinguish socialism and keynesianism myself.
mircea_popescu: austrian school holds exactly the opposite to be true. back when the us-uk alliance consisted of reagan and thatcher, the exact opposite was widely held in... amusinglyt.... the same economist circles.
mircea_popescu: so did neobee finally issue that vaunted first quarterly statement that really shoulda been the third ?
mircea_popescu: nubbins`: but i'm not about to buy a coin off some random noob with no trust ;p <<< ajaahaha the moment we've all been waioting for. nubsy baby, maybe buy it FOR ATC ?!?!?!?!
mircea_popescu: asciilifeform: it is always one thing to read a philosophical bit, and another to taste it on one's sorry skin << do tell ?
mircea_popescu: blurden who are you perhaps the more instructive question.
mircea_popescu: poor mike_c and his prime sarcasm falling on deaf ears :D
mircea_popescu: tg2 the problem with your approach is that protocols are designed and implemented by they involved, not by the armchair generals. tis not up to you or whatever random derp on reddit to "draw up guidelines", there's no government of the people in bitcoin. there's government by bitcoin opf the people.
mircea_popescu: zacm: so this is disconcerting to see the lemmings on bitcointalk cheer on us gov action against mpex people. bitcoin community must be eagerly anticipating govcoin i guess << i wouldn't read too much into the derpage of a coupla tards tbh.
mircea_popescu: anyway. i gotta go now to stand trial as a witness in a civil proceeding @ a local bar, so.
mircea_popescu: either that or you're significantly brighter than the average and just got lucky.
mircea_popescu: well, lotsa new people on here these days, pretty cool.
mircea_popescu: you have any sort of relevant background ? like being a quant or a latency tech or something ?
mircea_popescu: some sort of autotrader script or am i not following ?
mircea_popescu: gx ok so you're an ambitious coder by the name of kehl, and you did what ?
mircea_popescu: this log is too short. pls thestringpuller to halp elongating ty.
mircea_popescu: dood eh ? so what were you in for these past few months ? larceny ? truculence ?
mircea_popescu: whoa look at that, truffles still exists ?! when did that happen.
mircea_popescu: <thestringpuller> smarter over time << word. this shit sharpens under my very eyes. it's... uncanny.
mircea_popescu: <twizt> i wonder how much money neobee wasted on all that promotional crap << me too. but it doesn't seem like theres ever going to be a report.