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mircea_popescu: ReutersEmily the advantage of being here. i gain about 15 iq points when surrounded by these folks.
mircea_popescu: and in fact you can actually put orders in mpex right from here, by talking to the bots.
mircea_popescu: you could just code your message, give it to anyone (publish it on your blog, whatever)
mircea_popescu: once this is done, there's no more log in, there's no more anything.
mircea_popescu: this is how mpex works : a new user registers his public key with mpex, and registers mpex's public key for himself.
mircea_popescu: so now based on this you can send me messages that only i can decrypt, and i can respond in kind.
mircea_popescu: if you have the 17×119×5×3 set (ie, the private key) you can do some things which someone only having the 30345 (ie, the public key) can not do.
mircea_popescu: now it turns out you can use this disparity for great mathematical accomplishments, in the sense that
mircea_popescu: meanwhile, calculating 17×119×5×3 is trivial, and any kid in school should be able to do it.
mircea_popescu: as you can imagine, this'd take a while. you'd have to keep trying dividing it
mircea_popescu: ok. so let's first look into prime factors. the prime factors of 12 are 2,2,3,3
mircea_popescu: you don't have to run research it, just say no if you don't an' i'll explain. it's not really too complicated.
mircea_popescu: pizzaman1337 well there's this dastardly ambiguity in working for mp/working for mpex.
mircea_popescu: so if you want actual losses i'd guess ten to a hundred million.
mircea_popescu: that is easily over a billion dollars in today's market, but at the time btc was valued a lot lower
mircea_popescu: to date i would guess about 20 to 30k different individuals have lost to unscrupulous operators somewhere between half a million and two million bitcoin
mircea_popescu: which at the time worked out to well over half a billion.
mircea_popescu: ReutersEmily it varies wildly. currently in the 20-30k btc range. during one month it handled 400k btc in notional options exposure
mircea_popescu: pizzaman1337 over a hundred by now if you count absolutely everyone.
mircea_popescu: ReutersEmily about a dozen, it varies. they review public communications, keep track on the status of various purported btc companies, make regular statements etc.
mircea_popescu: i spend hundreds of my own btc to create evidentiary trails
mircea_popescu: i have an entyire department dedicated to researching and outing scams
mircea_popescu: so you know, on the ground there's quite legitimate concern.
mircea_popescu: people booking the traditional 50% losses in half year.
mircea_popescu: there has been a lengthy list of wannabe-mpex websites to date, it all ended bloody.
mircea_popescu: best anyone can determine, the sec is merely trying to cope with the serious problems of fraud enabled by unscrupulous operators
mircea_popescu: x.eur is a settled euro future handled by bitcoin-central's davout, so i suppose you could use that.
mircea_popescu: there are websites that purport to do this for you, if you can trust them. canonically bitcoin is obtained by mining it.
mircea_popescu: no, i am saying their debate as to whethet to come out and say its not in their yeard or not ended up in fishtails last tiem they tried to come to a declaration.
mircea_popescu: you may want to pick up the glove she failed to identify.
mircea_popescu: as i was pointing out to someone from i don't remember where yesterday,
mircea_popescu: "i read it and shared it with everyone i knew. i think it was fantastic. i was going to congratulate you on it yesterday but i figured you were too busy."
mircea_popescu: well, people without a business plan, people without an established identity, etc
mircea_popescu: if you just let anyone randomly registering you end up with the pink sheets, basically.
mircea_popescu: ReutersEmily well, again just like the nyse. you have to satisfy a due dilligence process.
mircea_popescu: s.nsa is a fine example of one company that succeeded. the owner there came up with the idea of making an actually cryptographically secure gpg gizmo
mircea_popescu: mostly because bitcoiners aren't interested in fiat investments
mircea_popescu: which do happen occasionally in bitcoin, but not really for fiat companies,
mircea_popescu: you can't buy say british petroleum on nyse unless someone does a dr deal.
mircea_popescu: a, no. you buy shares of companies registered with mpex.
mircea_popescu: i'm not sure what you mean by " private placement " but probably.
mircea_popescu: ReutersEmily mpex works exactly like the nyse, if nyse worked as intended.
mircea_popescu: who knew, mpex is 50% better than the best investment in the history of venture investment.
mircea_popescu: bitcoin's made for spendin' like them tits are made for squeezin'. not all the time not by everyone.
mircea_popescu: i would say moore's law officially solved the problem of slashdotting, permanently.
mircea_popescu: so i can't really believe it, but after being on everywhere trilema ain't been down.
mircea_popescu: "all you need is an infinity of moneyz, you'll be just fine"
mircea_popescu: i spent about a year with ppl going "wait so you bought at 15 ? but it's not even half that now! you got duped mp!"
mircea_popescu: men who live in low price houses can afford to throw pricepoints around
mircea_popescu: nubbins` i like bothering people with that figure :D i imagine all the assholes buying 10k for a pizza are long gone so nobody can bother me.