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mircea_popescu: but my point is... so some kid gets out of school in june and wants to become a man over the summer.
mircea_popescu: well... they're all rich except kako. he just drives very expensive cars.
mircea_popescu: so what i mean is... they still meet the quals, in spite of so much changing in the interim
mircea_popescu: strangely enough, they all also knew one of python/perl/bash, had gpg sigs and are now rich.
mircea_popescu: but you're right, if you were here march-april 2012 you could have had one for free
mircea_popescu: azoo you familiar with the concept of "qualiified investor" ?
mircea_popescu: well see, the idea is that people to whom it looks weird don't get to buy.
mircea_popescu: she never called mpex stuff a scam, and that's everyone.
mircea_popescu: so prepare a large mug of coffee, set your poppers to poppin' corn etc.
mircea_popescu: it's like a mile long, and i;ll be publishing it soon.
mircea_popescu: mpoe-pr just completed a 3 month long project of going through the forum and picking out the places where she called out a scam, people called her fud and then it turned out she was right.
mircea_popescu: upon rereading, KRS|Gotyawallet you realise "lmao fucktard" didn't mean you but the quoted kid.
mircea_popescu: mpoe-pr sells lithium soda. our noob is more likely to ignore her.
mircea_popescu: and that's all, it took three weeks. next month, new guy hears about bitcoin.
mircea_popescu: after all, he ain't socially marginal for nothing, he's socially marginal because he has mental habits that don't promote success.
mircea_popescu: so by now he's ripe for the plunder. makes some "investments" on the power of social proof, gets raped, gets depressed and gets to hear from all the (few) people in his life about how he failed again
mircea_popescu: within a week he's put most of his available cash into it, and is getting to a manic phase
mircea_popescu: within a day he's bouight some, and spends the next few days not sleeping enough and reading bullshit sources a la reddit.
mircea_popescu: anyway, to get back to the prev point, the way it usually works is like this : muppet (usually young, ambitious, socially marginal character) finds out about bitcoin.
mircea_popescu: noob puts on pope hat, makes blood-curdingly stupid general statement with all the authority of stupidity.
mircea_popescu: "1) Mining based upon resource consumption results in centralization."
mircea_popescu: BingoBoingo it's not that anyone forgot. it's that nobody of the idiots going for such things makes it long enough
mircea_popescu: asic is not efficient, not really, cause you'll need to add memory bus and a bunch of clocking and so on
mircea_popescu: BingoBoingo i know, i know. just pushing teh button a little :)
mircea_popescu: "It is possible to do scrypt with a fpga, so that implies asic is possible too."
mircea_popescu: it's a company trying to make various gizmos. currently working on a gpg secure usb stick
mircea_popescu: because as far as bitcoin finance is concerned, mpex is now and always was a hefty 90% of it.
mircea_popescu: but to give you a proper sense of proportion : when s.dice delisted from mpex, it was actually announced it got sold off, rather than lie about it a la havelock. and then mpex investors got paid on the delisting.
mircea_popescu: Apocalyptic for any value of real that equals worthless.
mircea_popescu: otherwise, the statistical argument Duffer1 presents is sound. they never had a company that made investors a profit, and statisticallty they're batting the usual global scam exchange, -50% in 1/2 year.
mircea_popescu: collected >4k btc this year, paid no dividends, is now gone.
mircea_popescu: azoo sure. they reorganised as a entity run by "no one", recently. after which they allowed their largest company (virtex) to simply walk away from the investors
mircea_popescu: look at the us budget for each year, you'll know about how much the taxpayer is paying to support scammers.
mircea_popescu: asciilifeform yes. it equals exactly "entitlement" spending by governments.
mircea_popescu: what else are they gonna do. once they're in porn they're in porn.
mircea_popescu: just like the porn studios are still basically doing, boy meets girl, boy gets girl.
mircea_popescu: that particularly is not true, the warrior forum is still running two or three major scams pioneered in 1995
mircea_popescu: not really, most situations evolve as boundless systems
mircea_popescu: ie, being a scammer is not really so many steps about being a clueless noob.
mircea_popescu: the irony embedded in the entire fucktard ecosystem (meaning, the noobs and those fleecing them) is that it really is quite self limiting and not particularly prosperous.
mircea_popescu: mining venture taking preorders and no delivery bet ? scam. no questions need to be asked or answered past "what's the link to your delivery bet"
mircea_popescu: noob starts business ? scam. end of discussion, no questuions asked. if he's a businessman he's known.
mircea_popescu: this is why we don't care about such. noobs don't get to start businesses.
mircea_popescu: some prime investigative reporting by kakobrekla there.
mircea_popescu: KRS|Gotyawallet were you around back when primeasic showed and disappeared ?
mircea_popescu: if they don't want to use them... why's that a problem.