345709 entries in 2.729s
mircea_popescu: my only ownership is over the theoretical output of
a theoretical machine
mircea_popescu: if i own
a mining "bond" my ownership extends over no sum of us$ or btc
mircea_popescu: if i hold
a treasury my ownership extends over
a certain sum of us$.
BTC-Mining: warrant? It's not optional, it's quite simply
a direct weekly coupon for X mhash of mining... seems like
a floating coupons bond...
mircea_popescu: and if someone tried the house/sec./etc would have
a weeklong fit
BTC-Mining: The contract is that of
a bond, but the issuers (at least the most reputable ones in the bitcoin community) decided not to leave them as fixed bonds.
BTC-Mining: Well in any case, mining so far has been constantly profitable. And so far I see no real loss for any long term miners. GPUs can be resold, although if you bought just before FPGA/ASICs, it's pretty much
a loss.
mircea_popescu: and by the theory you can fleece
a sheep many times but skin him only once, are now sweetening the deal"
BTC-Mining: Goodwilling decisions are not acceptable, unless otherwise it would tarnish them and cause
a loss of revenue
mircea_popescu:
a different way to express this would be "the issuers realised how badly they're screwing so called but not really investors
BTC-Mining: All employees within
a corporation are employed to get more money for the corporation.
mircea_popescu: yes, but unless its for X something money it's not
a bond.
BTC-Mining: They've sold
a contract for X something, it will stay
a contract for X something.
BTC-Mining: I can hardly see
a corporate entity acting like this
BTC-Mining: It is
a bond, that's where you see the community is small and run by single individuals.
mircea_popescu: yes, it could be
a bond in the very tenuous theory where hash power is
a currency
BTC-Mining: Or he could go: Well you did pay for the equipment I'm trading in. I'll raise to Y mhash on those contracts and keep
a similar margin
BTC-Mining: He could do it that way: I've sold you
a contract for X mhash. Equipment remains mine, and I'll trade it for 20x more mhash, but won't give you anything
mircea_popescu: but he makes no representation he will return
a certain btc value at
a certain future date.
BTC-Mining: Well yes and no. It's technically
a sale of power, but the equipment is managed by Gigavps who has
a margin vs what he gets with what people paid.
mircea_popescu: if i lend you
a car i haven't sold you it, i've lent you it
BTC-Mining: Well, he had GPUs, but he bought
a lot of FPGA which is tradable for the new ASICs from BFL
mircea_popescu: yes but as the guy rightly points out, in order for something to be
a bond it needs to meet some criteria.
mircea_popescu: BTC-Mining still not
a bond, sounds more like
a sort of stock option ?!
mircea_popescu: how can something that small be
a thief ? you'd accidentallty smush it midrobbery
smickles: nanotube: you were mentioned as not being
a thief and
a lier, iirc
Luceo: ASICs on 32nm should still be
a significant jump
BTC-Mining: As such,
a stable fiat to BTC rate would seem better
BTC-Mining: Hence why we're undergoing
a sudden rapid difficulty growth
BTC-Mining: I meant that by investing in equipment with
a fixed USD value, you want returns that can buy you more equipment.
mircea_popescu: all mining assets that didn't make 20% per month past 3 mionths are
a net loss.
mircea_popescu: in strict depreciation terms all mining assets that didn't make at least 9% per month are
a net loss.
smickles: oh well, i bought it much earlier at
a much lower price anywoy
smickles: so, the value of
a hash will likely only go lower
smickles: mircea_popescu: hmm, i think i used
a different method to value it or something
smickles: but still, it's like where you bot prices at is right at where the projected diffToBTC rate come out at, and we're in
a strong uptrend on the difficulty
mircea_popescu: i intend to do
a party, have all the girls politopless.
Luceo: Is this
a really complex form of
mircea_popescu: <Azelphur> it's weird all the hype has died down << you know i think there's
a forum rule that only crappy investments can have hype.
smickles: mircea_popescu: if polimedia is, as you state, your company. then surely you can show me
a pic of the company's logo/name on
a bumpersticker which is itself on
a pair of tits
smickles: usagi, you crack me up. now i have
a backlog of lines to read in this channel
Ignatius-otc: I have
a few in the names of characters in science fiction books
usagi: That doesn't make me
a scammer, it makes me anonymous.
usagi: It's just
a domain name reg
Luceo: www.enom.com/whois/default.aspx?DomainName=fennec.name Like srsly I must be
a scammer -_-
usagi: Seriously though, how does this make mircea
a scammer?
Azelphur: I don't even use bsd, I'm
a Ubuntu person
usagi: It's
a matter of public record now.
Luceo: Its cool I'll make RS
a mod
Azelphur: Luceo: there was
a guy who was messaging me the other day he made
a forum, he keeps spamming everywhere with it, and he made luke
a mod
Azelphur: Luceo: the people who run it really make
a forum what it is, have
a set of clearly laid out guidelines
usagi: Ciuciu no offense but psy is
a troll
Luceo: I'll make
a decent forum
Azelphur: there was one guy who was thinking of doing it, but it seems
a bit, well...terrible
dub: ciuciu: you really haven't said anything except quoting
a particularly retarded mod on
a wholey retarded forum
smickles: ciuciu: i was just pointing out
a coincidence :/
BTC-Mining: I think
a mining operation is sufficient.
mircea_popescu: ya, how;s that going ? haven't seen the other s guy in
a while
smickles: ciuciu: what
a coincidence, i too manage over 1000btc of others
Luceo: And her husband was
a banker lol
Luceo: oh lol, my aunt was
a corporate lawyer :P
Luceo: But she was
a lawyer :P
Azelphur: Luceo: I have an aunt called Sue, we generally say it's
a description rather than
a name :P
mircea_popescu: there's no fixing that. so you verify
a name and an address. so ?
mircea_popescu: how dares zhou operate
a business and not give paraipan his id!!11
smickles: mircea_popescu: wasn't paraipan the guy who filed
a police report on sombody?
smickles: ciuciu: why would he run with the money, rather than continue operating
a successful operation?
smickles: mircea_popescu: i would assume he means
a form of id which is made of plastic and 'issued to you'
Luceo: Quite probably, but
a lot worse to get caught with pot than hay :P
BTC-Mining: I suppose then not knowing who you're dealing with can be acceptable, and knowing is
a small bonus
Luceo: BTC-Mining: Sure, but
a lot of non-scammers don't want to be known either
tsukino: he was
a kind and gentle man, very smart hehe
tsukino: By the way romanian people are very cool.
A romanian physicist worked with my father to develop the world's first nuclear battery
Luceo: smickles: Property is essential to
a free society :P
smickles: ciuciu: well, if you read about mircea, i should be
a small footnote somewhere
dub: it was certainly
a big player when I cared about network abuse
smickles: ciuciu: didn't he go bankrupt
a few times too?