372800+ entries in 0.132s
mircea_popescu: or, for the earlier example, anyone who imagines a lower court us judge has the authority to detain strauss, and the testimony of a hotel maid can serve as basis for such
mircea_popescu: benkay anyone who believes that, to quote asciilifeform's earlier quoted article, "the U.S. government expects laws to be followed by everyone in the USA" may translate as hassling a foreign high class person
mircea_popescu: fucking travesty of justice, to pretend like you can meddle with the top tier.
mircea_popescu: muricans gotta get it in their square jawed skulls that there's a difference between the rich and the poor, and confusing this difference will get you exterminated.
mircea_popescu: anyway, that;'s a particularly well fit quote. if only the various twentysomething ex-geek now bitcoin financiers & investors had a financial culture.
mircea_popescu: surprisingly, it still delivers benefits way past the 5th repetition.
mircea_popescu: that's ok, i just keep linking the same shit over and over.
mircea_popescu: "Viewed individually, each company's capital investment decision appeared cost-effective and rational; viewed collectively, the decisions neutralized each other and were irrational, just as happens when each person watching a parade decides he can see a little better if he stands on tiptoes."
mircea_popescu: " Each proposal to do so looked like an immediate winner. Measured by standard return-on-investment tests, in fact, these proposals usually promised greater economic benefits than would have resulted from comparable expenditures in our highly-profitable candy and newspaper businesses."
mircea_popescu: rational market participants are individually rational.
mircea_popescu: benkay well, the hash power is designed to be commodified. this means it'll always sell just a shade under average cost.
mircea_popescu: xoinfinityox i guess that may be interesting in the sense pointing the spot lights at airplane wrecks could be interesting. meanwhile in the real war...
mircea_popescu: benkay you read the buffett bit re commodified markets ?
mircea_popescu: "hey guise, here's a cool idea, make us president coins narf" ?
mircea_popescu: xoinfinityox other news outlets don't practically exist. what's out there ?
mircea_popescu: Duffer1 yes, that 16th of oct article linked earlier, is where it was announced. toffoo has been asking me about whence and wherefore ever since.
mircea_popescu: <Duffer1> if confirmed i expect the price will rocket << you know it was announced before btc rocketed ?
mircea_popescu: it became a definite a coupla months back, but they had been doing it for a while.
mircea_popescu: BingoBoingo nah, davout's site is the cannonical example opf that.
mircea_popescu: monolithik perhaps many alt chains are futile. keeping one on hand just in case makes some sense tho
mircea_popescu: monolithik i agree, but that means little in the context.
mircea_popescu: but yeah, Duffer1 has a point, trilema isn't exactly a manual, more like that one asshole instructor in karate that just beats the shit out of you and then laughs.
mircea_popescu: sort-of like nobody figured out why ruby on rails utterly sucks until they had tried to make websites in it for a few years and they could never get one secure. then it was pretty clear.
☟︎ mircea_popescu: monolithik exactly. also, if there's going to be improvements to the concept, they may be discovered this way. atm we don't really know what utterly sucks in bitcoin.
mircea_popescu: maybe even make your own list and publish it somewhere.
mircea_popescu: xoinfinityox hit the bitcoin category, can't hurt anything.
mircea_popescu: that's kinda dying, really. anyway, yes, it's a good use of resources and has been for a while to try and specify the code. bar that, alternate implementations may work.
mircea_popescu: seems of late he's taken to heart the invitation to do less of the speaking.
mircea_popescu: the wilson guy definitely means well. i don't see he;s delivering any value yet, but it's way too early. the other thing sounds like it means well, same situation.
mircea_popescu: implementing any sort of legal controls is more of such a fuckup.
mircea_popescu: people will definitely abandon bitcoin if it fucks up. hash concentration is one such fuckup.
mircea_popescu: monolithik mining is roughly slightly unprofitable on the spot today, and has been for a while. on the long term it will remain so.
mircea_popescu: Duffer1 not rly an assumption. ppl have asked before, but i never said anything.
mircea_popescu: monolithik i tell you, it's when upscale bathrooms come with miners in the tile
mircea_popescu: we're roughly past the point where this is feasible, which is one of the major things tghat changed since back in spring.
mircea_popescu: can of course does not equal will, but giving that sort of an option to anyone is anathema to the bitcoin philosophy and the expectations built around it.
mircea_popescu: resulting in untrustworthy btc conveyance for as long as their 51% position lasts
mircea_popescu: that party can then do some nefarious choosing in the transactions that get accepted and then rolled back
mircea_popescu: a 51% attack is the situation where one party controls a majority of mining.
mircea_popescu: Bugpowder an impressive chunk, no matter how you look at it.
mircea_popescu: which by now of course does more in a day than the fiat stock exchanges combined in a week
mircea_popescu: what will it look like when the miner producers dominate the silicon industry on the ground, and are like 5 of the top 20 corps on mpex
mircea_popescu: and nobody is doing this, practyically, acoupla noname shops
mircea_popescu: moving on, did i mention body stockings are kinda cool ? they should put this in seventeen or w/e kids read, "if you don't own a coupla good ones you're no woman"
mircea_popescu: i did have the "ppl stop buying" post prepared, but it never got there, so... crisis averted.
mircea_popescu: we're not imo in dangerous territory, and that's all i care about.
mircea_popescu: not that, really, but anyway. seriously pizzaman1337, it's impossible to make a definitive call like that in the current circumstance.
mircea_popescu: not for you, for them. plunk the whiole thing down on yes :D
mircea_popescu: sorta like a badly managed pmb, i guess some people show green playing with fire, but overall...
mircea_popescu: ;;later tell mircea_popescu remind me in 10 years to neg Bugpowder if his "i will never be frail" promise turns out to be made of milk.