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mircea_popescu: how long does the average incompetent lotto winner take to be broke ? eh ?
mircea_popescu: yeah, and then what's the op to do ? you get the goxbtc and claim you didn't.
mircea_popescu: also, you need someone with a gox acct to escrow for you neh ?
mircea_popescu: that is possibly the most insane thing i heard ever since i heard of people "buying pirate debt"
mircea_popescu: talk about graceful degradations : tweets including references to #bitcoin-assets are auto-hashtagged "bitcoin" because that's how their parser works.
mircea_popescu: derping about with a purpose is necessary for your sanity.
mircea_popescu: what work. not like you go dig up coal in a mine or anything.
mircea_popescu: but today ?! what difference does it make, 99% of all derps live in the same exact conditions anyway
mircea_popescu: i mean back before roosevelt i could understand it, being poor meant fucking starving.
mircea_popescu: "Their roulette is technically provably fair and they are publishing complete results from previous day. But they are cheating in such naive way that they simply change outcome of roulette game when needed and later in published results from previous day they show different outcome, which is correct one but was not used."
mircea_popescu: by the time you're done with that you're rich already and don't even know when you bought copumpkin a new bionic girlfriend/maid.
mircea_popescu: B007 you get your words very well defined and your questions super sharp
mircea_popescu: benkay nothing because iirc i was holding the whole load.
mircea_popescu: the thing opened, all full of trepidation, abunch were bought
mircea_popescu: benkay "Predictably1, BS&T failed to issue the number of bonds they'd committed to, and Popescu was relieved of his obligation to pay out on the above synthetics."
mircea_popescu: they really seemed like they're competent for a while.
mircea_popescu: and meni rosenfeld moved on to to obscure turd pushing with what was going to become bitdaytrade
mircea_popescu: after the synth price normalised and soon enough it was in the shitter.
mircea_popescu: because that's what counted for a market back then, a buncha forum tards being friendly
mircea_popescu: anyway, in the case there : at the time the difficulty had gone up maybe 50% over 3 months, the dividends were mostly absent and the thing still traded "At price"
mircea_popescu: there's some schmuck from the early days plainly stating it in some thread, "the ipo is not for investors to make money but for the company to make money" or somesuch.
mircea_popescu: of the sort that bubble up even today, with the braindamaged "trading closed for ipo" nonsense.
mircea_popescu: they for instance had massive issues with shorting. mental issues.
mircea_popescu: read the forum sometime, people really thought it's the path to glory.
mircea_popescu: pmbs were generally recognised to be dog turds back then about to the degree hearn is recognised as a dog turd today.
mircea_popescu: very disruptive, especially as nobody readily imagined such a thing can even exist.
mircea_popescu: if your credit is better than the issuer's this then gives investors incentive to buy your synthetic rather than the original, starving scams of cash.
mircea_popescu: it's basically "i will pay out whatever X so called asset pays out"
mircea_popescu: nubbins` a synthetic was a relatively retarded construction, sadly made necessary by the very opaque manner of conducting "business" employed by the glbse muppets.
mircea_popescu: it doesn't necessarily have to be X or Y to be epic you know.
mircea_popescu: they're different things, the f.pure.synth was a synthetic copy of puremining, the glbse asset run by rosi manifold or w/e the jew's name was.
mircea_popescu: nubbins` how's pure.synth related to the hash options tho ?
mircea_popescu: i'm so rich people steal my moneyz i don't even know about.
mircea_popescu: i'm so rich i buy people bentleys i don't even know about.
mircea_popescu: indicative of Nefario's future behavior: "Thanks for your ideas guys, I'm going to wrap them all together and not pay out the bounty".
mircea_popescu: "Nobody can get inspect your payments if you know what you're doing."
mircea_popescu: is the band name "butterfly that snorted coffee grinds thinking they're lsd" ?
mircea_popescu: with a skin infection or w/e is going on there off to the left.
mircea_popescu: that looks like a butterfly that snorted coffee grinds thinking they're lsd.
mircea_popescu: benkay "my everlasting shame. Our code is available here:"