342100+ entries in 2.766s
assbot: Requesting data from GLBSE (might take
a while).
Ignatius-otc: If you end up needing anything from me as
a bond holder let me know. I'm not sure what information is being requested by pirate.
mircea_popescu: moreover, the fact that the owner retains
a majority of shares seems to make this plan
a losing proposition.
mircea_popescu: yeah well,
a. i haven't seen it happen and b. i don't see i'd stand for it.
Ignatius-otc: You have 20 shares. You sell 10 shares for 1 BTC each. "bad news" hits, and now you offer your remaining 10 shares at 0.5BTC. You buyback shares from paic sellers for
a 25-75% discount. Took in 10 BTC from the original sale of 10 shares, used less than 10 BTC to buy back those 10 shares when
a panic sell occured. Repeat the process...our price is at 0.5 BTC now, sell 10 shares for 0.5 BTC. "bad news", your remaining 10 shares are
BTC-Mining: that's why I put them in
a list... because they're not the same
mircea_popescu: heh. so, if you had
a margined acct and shorted ON MPEX you could have made
a lot more there.
mircea_popescu: BTC-Mining it might be the case that the cost of your research in terms of skill*time exceeds your profits by
a significant margin.
BTC-Mining: I have yet to make
a loss on any GLBSE asset
BTC-Mining: The first being that he needed
a 1 million BTC IPO
BTC-Mining: of course there fucking is
a way to pick them up, you can just look up the issuer
Ignatius-otc: no, I mean I ahve witnessed 2 types of penny stock scams. One, where they dilute by continually printing enw shares and selling off until the price per share is some small fraction of
a cent. then, they restructure and repeat the process. another type, doesn't dilute by printing shares, but by the method i have tried to desciribe to you.
BTC-Mining: "anyone can make
a stock and anyone can then dillute it to hell"
BTC-Mining: and people were trying to do
a P2P stock exchange, unregulated too of course
mircea_popescu: well that's the exact sense in which glbse is unregulated : anyone can make
a stock and anyone can then dillute it to hell
BTC-Mining: What do you not understand in the fact GLBSE is
a open market where anyone can issue?
Ignatius-otc: sell shares, drop price, buyback panic sell, repeat. you never diluted in
a traditional sense, but the result would be
a fleecing of investors and
a chart with
a similar appearance...always trending down. So mp you are saying no mpex asset has ever defaulted? wow
BTC-Mining: I went, over the past month, from
a 1200 portfolio value to
a 1500 portfolio value, on GLBSE...
mircea_popescu: read
a little the forum, the people are quite frustrated.
mircea_popescu: Ignatius-otc let's run
a scenario. i own 90% of the float, share trades at 10. now i do what, sell 5% of the float, share goes to 5 ?
BTC-Mining: You're assuming it's
a net loss overall like everyone put 1 BTC in both assets...
Ignatius-otc: the market price of low liquidity assets can be manipulated by simply buying out asks and filling bids sufficiently to where ones own orders are all that remain. if the issuer did this instead of dilution i believe he could continually "flip" the shares in
a way similar to if he had just kept printing shares with
a plummeting share price
mircea_popescu: BTC-Mining fact remains if you put in
a 1 btcf in his ipo you are now screwed.
mircea_popescu: BTC-Mining im not even sure what's the meaning of having
a voting system.
BTC-Mining: Same for GLBSE if there's
a requirement to issue shares.
mircea_popescu: now,
a simple point of fact : nobody can create shares on mpex. this offers the investor some guarantees against dillution, at least.
mircea_popescu: now specifically, as to the collusion discussion, quote defrauded investor teek : " I am pretty sure even Nefario gave him the nod
a few times in posts."
mircea_popescu: if
a good portion of the btc received would evaporate from my wallet
Ignatius-otc: By that logic BTC is horrible, as it has
a high concentration of scams...?
Ignatius-otc: You linked me to
a thread about
a GLBSE asset default.
mircea_popescu: cause you were calling them claims "alusions"
a few lines back.
mircea_popescu: that;'s pretty much the gist of it. everyoen thinks "they know better". it's
a very easy thing to get.
mircea_popescu: BTC-Mining it ipoed at 1 for
a select few that had the money. and it did not ipo on glbse.
BTC-Mining: I just have
a problem with you bashing everything but MPEX randomly spouting as fact things you haven't researched or have proof for. Like claiming GIGAMINING devalued almost 50% when it IPOed at 1 and not 1.5
Ignatius-otc: To be clear I personally am not arguing that any glbse asset is
a sound investment, I just want to make sure the exchange itself is reputable.
assbot: Requesting data from GLBSE (might take
a while).
BTC-Mining: and although GLBSE had many scam/default, when chosen correctly, the assets pay
a lot more.
mircea_popescu: you got neighbourhood
A, where there never was
a violent crime. you got neighbourhood B, where about half the citizens routinely get hauled off to prison on various violent charges.
mircea_popescu: just like any wife could be
a whore. she has the equipment.
Chaang-Noi: glbse took 20% of the volume of
a stock on your exchange? oh lol
Chaang-Noi: not
a lie, but an exageration to absurdity
Ignatius-otc: mircea_popescu: what measures are in place on mpex to prevent
a lif.* like asset from defaulting in the way the thread you linked to me describes?
Chaang-Noi: means
a great deal coming from you mircea
Ignatius-otc: I would normally just do the work myself mp, but I have already went on
a wild goose chase once today. To read about Chaang and his glbse "scandal". Wasn't worth my time and didn't prove Chaang dishonest or doing wrong.
BTC-Mining: Making it
a 0.20 loss for 0.40 dividend?
assbot: Requesting data from GLBSE (might take
a while).
BTC-Mining: yes, yes... and you're completly ignoring why the price is currently low and declare it as
a linear loss of value
Ignatius-otc: I fail to see
a direct connection showing collusion by GLBSE staff.
assbot: Requesting data from GLBSE (might take
a while).
assbot: Requesting data from GLBSE (might take
a while).
mircea_popescu: Ignatius-otc SIN. LIF.
A LIF.B LIF.CX. SMM. DISHWARA. PBJ. UBTC. BitFlowSys. GEM. SLV. BID. USGOLD. BB. SDM.
BTC-Mining: It's
a beta... it's not even supposed to be finished yet...
BTC-Mining: mircea, stop deluding yourself... if you don't make an interface like
a broker and insist on having
a stock exchange backbone and only allow quality companies IPOing, you'll need brokerage platforms like GLBSE
mircea_popescu: kakobrekla im actually starting to suspect more than glbse.
a bunch added this month, too.
assbot: [GLBSE] [PPT.
A] 13 @ 0.332 = 4.316 BTC [-]
BTC-Mining: I'll probably keep
a larger margin however since some stocks can go down in value
mircea_popescu: as the odds of
a phenomenon occuring go down, the variance in it's observation goes up. not in fixed proportion, but still, monotonous growing function.
mircea_popescu: if you do 100million tickets/hour and odds are 1:100mn you might have to wait
a day and
a half.
mircea_popescu: if it's 1 to 10 billion well... getting lucky might take
a long long time.
mircea_popescu: basically what's difficulty ? it's pot odds. with low diff you have
a 1:100 chance to win the pot. with higher it goes up, 1:10k etc
coingenuity: i abandoned it since i thought bitcoinica was
a crappy platform
mircea_popescu: chmod755 well maybe not quite that extreme, but... still. someone should drop sera j
a line
coingenuity: and i saw him do it to
a bunch of other people as well... so feh
coingenuity: mircea_popescu: cuz he gave me
a negative rating with
a reason ":(" as an abuse of the rating system
gribble: Error: "trilema" is not
a valid command.
mircea_popescu: it occurs to me that article could benefit from
a picture of my cock.
mircea_popescu: we should have
a fag, where's my forum! reality tv show
Anduck: and they pay dividends like
a passthrough
gribble:
A market order to sell 500000 bitcoins right now would net 1969654.2931 USD and would take the last price down to 1.1500 USD, resulting in an average price of 3.9393 USD/BTC.
gribble:
A market order to sell 50000 bitcoins right now would net 486057.6760 USD and would take the last price down to 9.0000 USD, resulting in an average price of 9.7212 USD/BTC.
Wolf_L: and profit even if it goes down
a little