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mircea_popescu: MAKABEakira a better idea would perhaps be to re-structure the program so as to work better with bitcoin's weaknesses.
mircea_popescu: MAKABEakira in principle it is externalisable, but in practice it's a problematic point, because if you scam the users on my trademark i'll have to kill you.
mircea_popescu: it can be done, if you have the volume to justify it. otherwise, just so it exists generally, it's not gonna happen
mircea_popescu: out of that 1% i'll have to justify someone sitting with eyes glued to your thing
mircea_popescu: well, consider the business caseas first and foremost. bitbet takes 1%
mircea_popescu: MAKABEakira so why can't these be week bets like in sane land ?
mircea_popescu: this means that if you bet 1350 btc or less you are guaranteedly going to be paid out (should you win) with btc that are already held from old bets.
mircea_popescu: the total actual exposure bitbet has to bets (ie, stuff people bet that hasn't been yet resolved) is 414.9x
mircea_popescu: but anyway, since we have been doing some auditing on bitbet : the total BTC held in currently published addresses is 1778.18326295.
☟︎ mircea_popescu: that's the address paying the house bets, refunds, referrals.
mircea_popescu: anyway, since we're discussing bitbet, i dunno if this was ever published, but
mircea_popescu: what i don't love is how many people need to be hurt into comprehending that they're better off following than trying to lead.
mircea_popescu: BingoBoingo guy is reasonably well known. at least by btc standards at any rate.
mircea_popescu: guy's target are people with short attention spans and limited memory space.
mircea_popescu: there's actually people who make it their business to organise a "photographic vacation"
mircea_popescu: by the way, for whoever was wtfing about all the nude shots :
mircea_popescu: it is a reasonably common name, so there's a dozen or so other people by the same name
mircea_popescu: moiety "should have known", "reasonable person standard", "duty of care" etc etc. the jurisprudence is taller than you,
mircea_popescu: i mean some people are just deliberately being stupid, but in many more cases people just don't have the info, at all.
mircea_popescu: kinda why i encourage people to blog and so forth, make good info a little more accessible.
mircea_popescu: 10 secs are, for most people in the civilised world, worth more than the respective satoshis.
mircea_popescu: B007 the point isn't really to make it impossible to get past.
mircea_popescu: which is why you don't see ads for hookers in your favbourite magazine
mircea_popescu: dexX7 it's generally illegal to advertise illegal activities in many jurisdictions
mircea_popescu: "Marc Andreessen favorited your Tweets 11h: Reply to @pmarca If your intel dept didn't stink, you'd know all about BitBet.
http://bitbet.us/ "
mircea_popescu: tho i don't seem to find any proper proof, like signatures.
mircea_popescu: BingoBoingo well for what it's worth they seem to more or less have moved a bunch of coins in november
mircea_popescu: good, cause on re-read the first verion seemed to me to be making little sense if at all.
mircea_popescu: these considerations sink the entire thing, either way. either way they've lied, which means they can't audit.
mircea_popescu: or else, it is in fact related, and for whatever reason the respective disreputable russian group does not wish to admit to it. so it's more like a front.
mircea_popescu: these facts allow two constructions : either firestartr is simply lying, and has no relation to badoo any more than it has to skype
mircea_popescu: whereas skype, claimed by firestartr, is obviously not theirs to claim.
mircea_popescu: also important, that same group of russian folk run a number of other ventures, which are inexplicably absent from the firestartr claims,
mircea_popescu: specifically, their claim as to be behind badoo is immediately suspect, seeing how a) badoo is not particularly a respectable venture and b) it is run by a certain group of russian folk, well known to be disreputable.
mircea_popescu: this copy fails the form test, and more importantly makes some claims, which would seem to be false.
mircea_popescu: more importantly, the purported auditor does not substantially exist. it consists of a recently registered, domain-by-proxy website, upon which some random copy has been plastered.
mircea_popescu: so, this purported audit is in very poor form, for a myriad of reasons, such as for instance it being published by the audited entity rather than by the auditor.
mircea_popescu: so, bitstamp is this bitcoin exchange. people have been havng their doubts about it for a while. bitstamp came up with this theory whereby it's been audited.
mircea_popescu: someone should tell cary it's a bad idea to CONTINUE signing in the company of such doofusry.
mircea_popescu: seeing how kraken managed to fuck up deposit addresses creating a mess worth 100s of btc, that they lied about.
mircea_popescu: anyway, that aside, i appreciate the humour of jess powell signing statements,
mircea_popescu: or else it's a deceptive front for a well known group of grayhats
mircea_popescu: i am saying that either the firestartr thing is an outright fraud,