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mircea_popescu: that i am not biased, but in a perfect position to implement it
mircea_popescu: you know this is diosxcussed in the article you apparently don't want to read.
mircea_popescu: it's not a matter of miner fees. nonstandard tx are not relayed.
mircea_popescu: as to the blockchain shares, it's called colored coins. it has it's own problems
mircea_popescu: then there's added value to the pool and everyone's happy
mircea_popescu: so ya, maybe we end up with alien messages and am gets a 1.5bn govt grant to crack it
mircea_popescu: ThickAsThieves taking the burlington example, the only +ev move is if the war comes and they're converting to making ammo and selling it to the brits on us guaranteed credit.
mircea_popescu: otherwise, it'd have been better to not sell them at all.
mircea_popescu: there's a finite loss to be thus funneled into investor pockets.
mircea_popescu: ThickAsThieves inasmuch as the machines are sold for more than they're worth, the people buying are making a loss
mircea_popescu: ThickAsThieves that's pretty much the only actual alpha scenario here.
mircea_popescu: the value of the sweing machines is strictly in cutting its textile market
mircea_popescu: ThickAsThieves the problem is not that. the problem is the maintenance cost of that dominance
mircea_popescu: it's fascinating to me to see that it's mostly the idnependents falling in it.
mircea_popescu: as a way to even the playing field (figuring moneyed interest will fall in, independent geeky types will avoid it)
mircea_popescu: i am personally convinced that satoshi deliberately created the mining trap
mircea_popescu: mining is a commodified market with large excess capacity
mircea_popescu: worse than fx issues, worse than the abundance of scammers,
mircea_popescu: here's a hint : it is not, overall, a profitable venture on a cash basis approach
mircea_popescu: furuknap you seem so unaware of the fundamental problems of mining for some reason
mircea_popescu: person knowing it's really 2/3 rather than 50-50 could basically take all the bot's liquidity
mircea_popescu: but then it's discovered the code is bad and odd is twice as common as even
mircea_popescu: just like the bot that went deeply into the bitbet bet thinking it's 50-50
mircea_popescu: <qxzn> eh, I'm skeptical of the valuable of having a bunch of novice traders bouncing around these exchanges <<
mircea_popescu: if he knows a bot will cover to 18-18 then he knows he gets fair odds
mircea_popescu: if he does he's glad to hear somebody will cover the odds.
mircea_popescu: the human either has a side or doesn't. if he doesn't he;s not betting anyway.
mircea_popescu: why'd deter humans ? recall, this is parimutuel. humans knowing their bets will be covered is encouraging
mircea_popescu: i don't see the problem. people setting their own bots to marketmake provides liquidity.
mircea_popescu: yeah i was gonna say, it's pretty much in the html dom
mircea_popescu: the depositing part works by design in the sense that once you get an addy you can use it for as long as the bet exists
mircea_popescu: "I am willing to pay top dollar for someone to help me cosign a mortgage. I have no family I can ask. I have good credit and equity. I need someone in California with good credit and high income."
mircea_popescu: once actual capital starts moving in it's a different story.
mircea_popescu: moreover, the people atm involved are mostly kids trying to bootstrap themselves into financiers on a shoestring