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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.
mircea_popescu: Bugpowder it'll suck to be you when you're 50 and old and frail
mircea_popescu: nubbins` when i was a mobster i didn't wanna go live with all the other mobsters. generally this seems to be a common trend, too, people don't seem to go "a shit, you know what'd be cool ? let's move upstate. the city's a toilet!"
mircea_popescu: BingoBoingo re options, you gotta understand that ecosystems are born out of shit.
mircea_popescu: nubbins` gotta give junkies credit when they manage to hold off for a thousand words before bringin; it.
mircea_popescu: Bugpowder is a family of four mean a guy and three women ?
mircea_popescu: nubbins` they were trying to sell me on the thing. i tell you i don't see it, why would you want to go hang out there ?
mircea_popescu: BingoBoingo i never marketmade x.idiff ?! what are you talkin' about ?
mircea_popescu: ;;later tell dexx7 guy was actually emailing me about the thing. i sent him a list of no's and the way we left it was he's gonna lurk here for a while figure shit out.
mircea_popescu: asciilifeform bloodcurdingly obnoxious shit. "everyone respect the laws" ? bs.
mircea_popescu: currencies naturally tend to decentralise, which is why things like forgers. markets always and since forever centralise. tis what they do and not distinct from their actual utility.
mircea_popescu: you're not gonna get the decentralised market that's trustless any more than you're going to get the two dimensional dildo that cures aging
mircea_popescu: supernodes eh. amidvidy are you also new to bitcoin enough to not have been exposed to the adventures of uppity tortilla ?
mircea_popescu: here's an analogy for you : suppose you're in love, with this luscious young thing. can you see why the device which speeds up her arrival to your current position is great, whereas the device which speeds up your ejaculation once she's reached you is not great ?
mircea_popescu: you form beliefs about how a problem can be solved without having bothered to define it ;/
mircea_popescu: havelock is in the process of fuicking itself in the ass exactly the same way right now./
mircea_popescu: the takedown of the playsites is related to people making your mistakes (ie, brash notions of youth). it's unrelated to anything that can be resolved technologically.
mircea_popescu: you misjudge both what happened there and what that leads to.
mircea_popescu: but i guess most need to learn from their own experience.
mircea_popescu: so have a bunch of other kids. it never goes anywhere, for the stated reasons.
mircea_popescu: asciilifeform he was so close might have gone for areola. no courage in the spam business these days
mircea_popescu: it matters like this : twenty somethings don't have enough experience wiping their own bottom to opine on matters financial.
mircea_popescu: "I am Barrister Prince Paul Adeola a solicitor at law." <<