375400+ entries in 0.086s
mircea_popescu: it's a strange mix between a command economy and a market economy, and managing it looks more like herding 10mn cats.
mircea_popescu: anyway, one point that is perhaps not directly obvious to foreigners is that china contains about 10mn people who have the authority to spend various amounts of public funds.
mircea_popescu: more like, "the chinese central authorities are not exactly asleep, and picked the right course".
mircea_popescu: in this sense it subtly strengthens bitcoin, because it's current value and recent explosion are both due to the little secret made public also on trilema, ie govts involved.
mircea_popescu: so if anything it's good, in that it balances out the govt battle, because the us (all its pretense to the contrary) could not have kept up.
mircea_popescu: had this pronouncement not been made, we could have ended up with a rush from chinese provincial authorities buying bitcoins and erecting miner farms
mircea_popescu: the economic situation is dire, the finances are in a mess. everyone is earnestly looking for ways to conserve capital values
mircea_popescu: the chinese do have a serious problem, in the following sense : it's a highly competitive society, much more so than the us was in the 50s. people are very performance driven.
mircea_popescu: anyway, some people were contemplating vehicles such as funds
mircea_popescu: which you know, kinda matches rthe fincen earlier report. bitcoin is, all the pretense of interested parties to the contrary, not a currency,
mircea_popescu: well, it specifies chinese banks are not to use bitcoin as a currency, as the chief point.
mircea_popescu: no i actually have people that speak the language peering at it for me.
mircea_popescu: unlike the us, these people have had over three thousand years to complicate things.
mircea_popescu: anyway, who knows. i don't trust my grasp of the chinese intricacies much.
mircea_popescu: so it's really more like, if you make a loss trading bitcoin we'll shoot you. if you make a gain we'll maybe promote you, we'll see about that, don't bet on it.
mircea_popescu: without forcing the bureaucracy to actually explain what is wrong and how to identify it.
mircea_popescu: make strong worded, vaguie proclamations. this will encourage they who do things they think are wrong to desist,
mircea_popescu: ThickAsThieves actually, the legislative strategy of the chinese governments ever since the days of confucius was,
mircea_popescu: usd 24h vwap 1023.03 7day vwap 1023.74. seems we're stabilizing.
mircea_popescu: bloctoc the bot only quotes when it can get a datafeed. if it can't it doesn't quote, and its previous quotes expire
mircea_popescu: that you send some hashing their way means exactly nothing in any sense.
mircea_popescu: and for that matter, anyone can send hashing to ghash, it being a pool.
mircea_popescu: exactly in the sense the hash exchange wasn't run by pirate.
mircea_popescu: he doesn;'t, which is why he's on no. the miners are on yes.
mircea_popescu: nubbins` you're closing shop anyway, becauyse you can't afford obamacare.
mircea_popescu: nubbins` people who predominantly pay minimum wage mostly use undocumented illegals anyway
mircea_popescu: it's not going to change as long as the diff isn't changing
mircea_popescu: so they will except they won't. listen, you gotta be "in" to get there.
mircea_popescu: twizt chains will definitely not shelf you. go after restaurants as someone suggested.
mircea_popescu: it never comes down to "who can make the better sauce". it's a business.
mircea_popescu: twizt that's fine and all, but you gotta understand, fmcg is a business, the distribution and marketing part is what counts.
mircea_popescu: this is quite illegal, bought it from the guy that made it.
mircea_popescu: (i did once drink a liter of the stuff in one sitting. walked out)
mircea_popescu: nubbins` i just bought a gallon of tzuika, it's ~110 proof, pure plum juice.
mircea_popescu: sink the time to learn about bitcoin, which means like a year.
mircea_popescu: nobody cares about your idea, nor does it at all matter.
mircea_popescu: twizt listen, bitcoin doesn't work in the way you intend to use it, "i have an idea"
mircea_popescu: well exactly what it says on the tin, the pr for mpoe.
mircea_popescu: lol molten sodium. that'll definitely cost more than the suit.
mircea_popescu: asciilifeform you know it's been synthetised for like a century.
mircea_popescu: twizt practically, search the forum for "mpoe-pr see here"
mircea_popescu: nubbins` elk's vomit. specially engineered for the canadian conoisseur.
mircea_popescu: so did that stephen guy ever manage to short bitcoin ?