341300+ entries in 2.674s
mircea_popescu: if i feel like replacing them with
a fuck you poster, i do.
jcpham: nah it
a toxic waste dump
mircea_popescu: <BTC-Mining> That or each time one fails, someone else pop ups with that thought: "I don't know squat about security or even understand the concept of it, but SURELY if I make
a platform it will be 100% better and secure because I made it instead of grossly incompetent people. I'm FLAWLESS." <<< this.
BTC-Mining: That or each time one fails, someone else pop ups with that thought: "I don't know squat about security or even understand the concept of it, but SURELY if I make
a platform it will be 100% better and secure because I made it instead of grossly incompetent people. I'm FLAWLESS."
BTC-Mining: I feel like all online wallets/trading platform related to bitcoins popping up nowadays are automatically
a scam...
kakobrekla: hm so at this point bdt is
a ponzy or smth
smickles: mircea_popescu: meet them to sell them
a bridge?
smickles: mircea_popescu: people who think there is better than
a 1 in 10 chance of pirate paying back?
gribble: Error: "bc" is not
a valid command.
rdponticelli: With the current state of things, there aren't
a lot of options
assbot: Requesting data from GLBSE (might take
a while, also might return fishy results as it does not account for splits etc).
smickles: kakobrekla: would it be possible to add
a 'disclaimer' about stplits to the line 'requesting data from ...'?
smickles: ss had
a 100 for one split, and now your pl command registeres it as
a loss
assbot: Requesting data from GLBSE (might take
a while).
gabbynot: still bids on the PPT's…certainly
a hail mary gamble
gabbynot: usagi: isn't the matthew thing
a big part of nyan.c assets?
assbot: [GLBSE] [PPT.
A] 24 @ 0.3200001 = 7.68 BTC [+]
assbot: [MPEX] [B.MPCD.
A] 10000 @ 0.00100554 = 10.0554 BTC [+]
Enky: this comment is the best: "very good guy and good girlfriend,
a must see"
DeaDTerra: The reason why there were no ask wall as was due to that me and Erik were
a bit off sync so to make it fair I took down the bid wall until I could pay the dividend.
BTC-Mining:
a lender cannot really be untrustworthy tho
mircea_popescu: BTC-Mining if you think about it, as i can go right now into
a forex platform with usd, whereas getting btc is complicated
BTC-Mining: yes indeed, would be good to ahve
a forex platform <-> BTC
BTC-Mining: if people make
a loss, and BTC price drops at the same time, or people make gains while BTC price raises at the same time
BTC-Mining: aye, I really wasn't sure if there was
a misunderstanding between you and your contact.
BTC-Mining: BTC/fiat price has
a big impact on the broker unders the terms that it doesn't affect the customer
BTC-Mining: Well if it's just
a test for the heck of it...
kakobrekla: i guess its more of
a pocket change for them
BTC-Mining: The problem is, even if he's long on bitcoin... suppose someone makes
a gain in fiat position (10%). That gain is in fiat. During that time, BTC value indeed goes long, it raises 200%. Try to buy with 10% fiat profit 10% profit in bitcoins worth 3x the price. You'd need to have made 30% profit on the position to pay the 10% in bitcoins.
mircea_popescu: good. cause as i was saying, btc is very volatile and has in the past, even recent past, caused
a lot of pain.
BTC-Mining: 10% gain on
a USD/EUR position, 10% gain in BTC, guaranteed.
BTC-Mining: No, 10% gain on
a USD/EUR position, 10% gain in BTC, guaranteed.
BTC-Mining: Yes, but Kako doesn't seem like he's going to hedge and says
a 10% gain/loss on position =
a 10% gain/loss on BTC
mircea_popescu: then i've made
a 300% price decrease and that means
a 300`000% gain on my position
BTC-Mining: Broker now has 500 USD for
a 5000 USD loss
gribble: (sell <amount> <thing> [at|@] <priceperunit> <otherthing> [<notes>]) -- Logs
a sell order for <amount> units of <thing, at
a price of <price> per unit, in units of <otherthing>. Use the optional <notes> field to put in any special notes. <price> may include an arithmetical expression, and {mtgox(ask|bid|last)} to index price to mtgox ask, bid, or last price. May also include (1 more message)
BTC-Mining: The thing is, his contact was talking about 1:1000 leverage being possible. I doubt they'd take so much risk as
a broker
BTC-Mining: BTC/fiat price does matter
a lot for the broker, especially if you go with high leverage like 1:1000
assbot: [MPEX] [B.MPCD.
A] 24864 @ 0.00100545 = 24.9995 BTC [+]
Enky: you earn 80% with
a 0.1 lots (100 btc) you earn 80 btc
mircea_popescu: mk, so let's see here. suppose i deposit 100 btc. at that time btc is 100 yen. i trade for yen, get 10k.
a week later, btc is 50 yen. i trade back get 200 btc. now i withdraw. you pay me 200btc
mircea_popescu: well so why exactly do you associate your name with what seems
a somewhat dubious proposition ?
kakobrekla: i have been asked to be
a part of that operation (dealing with btc stock etc)
kakobrekla: second of all there is
a covering bank of twice the size of deposits size
BTC-Mining: Even if the change is smaller, there's
a small loss...
BTC-Mining: kako, you don't seem to understand you're making
a profit on
a position in FIAT. If you make
a 10% (1 USD on 10 USD, for 1 BTC) profit in fiat but bitcoins value raises 10x in USD value during that time (100 USD). Your 1 USD will pay only for 1% extra in bitcoin, not 10%. Either you or MT4 would have to eat
a damn loss to give that full 10%.
Enky: but for the broker not, but most of the time orders tend to match each other, if there are
a large amount of traders
kakobrekla: you had you money with pirate with 7%
a week no matter if the usd btc price was 5 or 10 usd
BTC-Mining: Enky claims
a position will have to be matched with an opposite position also using BTC
Enky: if is it unlinked who pay
a profit in btc to
a guy that never held
a position in fiat currency?
BTC-Mining: And if you make
a profit, how do you buy the extra BTC to pay such profit?
Enky: probably from
a trader that did the opposite trade
Enky: or subtract if you have
a loss
BTC-Mining: but you're having
a fucking eur/usd position! How can you do that without
a eur balance >.<
Enky: aniway i'm
a fucking dumb kako:)
assbot: [MPEX] [B.MPCD.
A] 39784 @ 0.00100543 = 40 BTC [-]
mircea_popescu:
a well, they say no lesson is worth anything unless you have
a missing eye to show for it.
BTC-Mining: See, just wait
a little for to show up =/
mircea_popescu: i see
a .01 but not
a .02. BTC-Mining! whar is my dough! kneecaps!
Diablo-D3:
a doctor,
a lawyer, and an accountant
rg: you need
a jew to maintain your gold
Diablo-D3: you want real gold in
a vault, not GLD
BTC-Mining: If someone makes
a loss on his position (fiat loss) and BTC devalues/crash to like close to 0, guess who absorbs the large fiat loss?
BTC-Mining: [10:53] <BTC-Mining> smickles, kako is saying you could have
a BTC balance, and have
a USD/EUR position for it, so if you lose 10% on the position, you lose 10% oF the BTC used for the position. AND COMPLETLY IGNORE BTC PRICE FLUCTUATION DURING THAT TIME. That's what I understood.
BTC-Mining: Would carry
a huge risk for you depending on BTC price fluctuations.
Diablo-D3: I wonder if
a chick has ever said "dick licking good"
smickles: mircea_popescu: in hindsight, the first few months were like the eye of
a huricane
mircea_popescu: very tracherous market, easy enough to gain
a false sense of confidence.
BTC-Mining: and allow you to take
a USD/EUR short/long position on
a forex platform using that BTC.
mircea_popescu: well i kinda fell in the middle of
a discussion i dunno.
BTC-Mining: he's saying that you could put
a 1 BTC balane he'd keep on his side.
mircea_popescu: if anyone cares, an attempt at btc / difficulty option nearly took
a large player out.
BTC-Mining: so basically, allow you to trade on
a forex platform by keeping your BTC to back your positions.
BTC-Mining: kakobrekla wants to make
a BTC > fiat/fiat positions service with BTC backing the position. BUT, of course, BTC price fluctuation doesn't need hedging or doesn't matter at all in this.
Enky: he think, btc is
a currency , so not much volatile...
BTC-Mining: [10:53] <BTC-Mining> smickles, kako is saying you could have
a BTC balance, and have
a USD/EUR position for it, so if you lose 10% on the position, you lose 10% oF the BTC used for the position. AND COMPLETLY IGNORE BTC PRICE FLUCTUATION DURING THAT TIME. That's what I understood.
mircea_popescu: btc can and has dropped and gained 50-60% in
a few days.
mircea_popescu: i guess the power of lisp is
a scary thing to behold. just you wait till i grow
a little and start doing 100s of trades
a minute
assbot: [MPEX] [B.MPCD.
A] 10000 @ 0.00100595 = 10.0595 BTC [+]
assbot: [GLBSE] [NYAN.
A] 47 @ 1 = 47 BTC [+]
BTC-Mining: This one is
a bit outdated... looks like its from the cold war