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mircea_popescu: "Effective immediately, we are discontinuing all business operations pending a business model review. At this time we are unsure when, and if we will resume operations in the future."
mircea_popescu: hehe writing an article right now, knee deep in the clouds and whatnot.
mircea_popescu: [\\\] what mtgox does have is all that's left of bitcoinica coins
mircea_popescu: god forbid they fucking read trilema gathered shit at THAT stage.
mircea_popescu: punkman1 that's nothing, sometimes i see people in btc on linode.
mircea_popescu: joecool lol amusingly i think i wrote last year about how mtgox is the one single worst thing in btc.
mircea_popescu: anyway, i'm off. looking forward to reading more derpage from clueless uninvolved people with delusions of self-importance tomorrow.
mircea_popescu: thestringpuller yes but in typical commie style, the evil empire is trying to turn things around
mircea_popescu: the us government, it's agents and assigns are cordially invited to go suck an onion.
mircea_popescu: because such attacks are difficult for ordinary people understand. I have trouble understanding your proposal - ordinary users will be easily bamboozled by a government sponsored security update. Further, when the crisis hits, to disagree with the line, to doubt that the regulators are right, and the problem is the evil speculators, becomes political suicide, as it did in America in 2007, sometimes physical suicide, a
mircea_popescu: r, more serious, and more disastrous, as with the most recent one. Each attack is hugely successful, and after the cataclysm that the attack causes the attackers are hailed as saviors of the poor, the oppressed, and the nation generally, and the blame for the the bad consequences is dumped elsewhere, usually on Jews, greedy bankers, speculators, etc, because such attacks ar
mircea_popescu: The big and easy government attacks on money target a single central money issuer, as with the first of the modern political attacks, the French Assignat of 1792, but in the late nineteenth century political attacks on financial networks began, as for example the Federal reserve act of 1913, the goal always being to wind up the network into a single too big to fail entity, and they have been getting progressively bigge
mircea_popescu: y find easy money too seductive, and S. 190 goes down in flames before a horde of political activists chanting that easy money is sound, and opposing it is racist, nazi, ignorant, and generally hateful, the recent S. 190 debate on limiting portfolios (bond issue supporting dud mortgages) by government sponsored enterprises being a perfect reprise of the debates on limiting the issue of new assignats in the 1790s.
mircea_popescu: Then knowledgeable people complain that the evil financial network is heading for disaster, that the government sponsored enterprises are about to cause a “collapse of the total financial system”, as Wallison and Alan Greenspan complained in 2005, the government debates shrinking the evil government sponsored enterprises, as with “S. 190 [109th]: Federal Housing Enterprise Regulatory Reform Act of 2005″ but the
mircea_popescu: Government sponsored enterprises enter the business, in due course bad behavior is made mandatory, and the evil financial network is bigger than the honest financial network, with the result that even though everyone knows what is happening, people continue to use the paper issued by the evil financial network, because of network effects - the big, main issuers, are the issuers you use if you want to do business.
mircea_popescu: egitimate, law abiding industry partners to row the boat into law abiding waters.”
mircea_popescu: “As any industry matures it will face growing pains and there will be individuals who believe they can use the fog of uncertainty to cover up their follies. When it comes to policy, it is the responsibility of the federal government to steer the boat, not row the boat. Our Committee will continue to work closely with relevant U.S. government entities to steer the boat away from nefarious actors - and it’s up to l
mircea_popescu: “My staff is working closely with relevant federal agencies to determine what lessons can be learned from this failure to help ensure this does not happen here in the United States.
mircea_popescu: anyway, let's compare and contrast for the permanent record :
☟︎ mircea_popescu: for your protection, obama govt abolishes the s on verbs.
mircea_popescu: " Today, Homeland Security and Governmental Affairs Committee Chairman Tom Carper (D-Del.) release the following statement"
mircea_popescu: cads you can make your own empirical study. pick a stock.
mircea_popescu: and geometric brownian motion is a rather general case of stochastic process. it fits a bunch of natural phenomena.
mircea_popescu: let the idiots be poor, best thing for them and everyone else.
mircea_popescu: cerelenius that's fine, brains distribute about the same way.
mircea_popescu: <greenspan_fan> all monetary is jewish monetary theory << actually it's gypstalian
mircea_popescu: o wait i think i must have mixed up my stereotype cards
mircea_popescu: davout o yes i see, alternative implementations leads to bugs.
mircea_popescu: white/blue shirts with lines, and the dots on white on the guy on left ? it's fucking outrageously unflattering.
mircea_popescu: jurov what i don't understand is... why are all those black guys dressed like if they were white ?
mircea_popescu: greenspan_fan racism is controversial, but re niggers not re jews.