403200+ entries in 0.117s
mircea_popescu: hehe. it is a good thing. and you are exactly correct, by thwe way, it's a point few people understand
mircea_popescu: <jurov> okay to me it looks like a loan. and borrower thus owns the coins, with purported obligation to fullfill some conditions later << methinks j man has been doing a lot of reading up lately.
mircea_popescu: "My partner and I had reservations for 6:45. By 9:30, we still hadn't received our pizza."
mircea_popescu: you're talking to the one guy who prevented that back when it actually had a chance.
mircea_popescu: the good news is that back in 2011 they had about 2mn btc, then in 2012 they had about 100k
mircea_popescu: there's a crowd of idiots who want to invest in-crowd.
mircea_popescu: if i ever list ltc it will be because i'm moving off btc.
mircea_popescu: i'm a monomaniac sort of guy. i idle in one irc channel only. i handle one cryptocurrency only.
mircea_popescu: really slow uptake. i guess that's what you get when something starts as a hobbist market : hobbists.
mircea_popescu: it certainly wasn't well presented seeing how nobody got it at the time.
mircea_popescu: truth of the matter is miners are so far away from any sort of financial understanding it's probably wasted effort to debate which of their dumbass notions should be contradicted etc.
mircea_popescu: nevertheless, it helps if you contradict something germane to the issue rather than something random, i think.
mircea_popescu: inasmuch as the mining rigs are fiat items pretty much.
mircea_popescu: othe rthan that, sure, btc going up actually hurts mining investments.
mircea_popescu: it's the wording. any one miner knows he's not betting on THAT. so you'll get a lot of misdirected protestation
mircea_popescu: well, you seemed to interested to know why people are throwing a fit avbout it.
mircea_popescu: you could as well say that buying mining gear is a bet on the aliens showing up and wanting to buy it for infinite money.
mircea_popescu: presenting any definite activity in terms of it being "A bet on X arbitrary contingency" is a peculiar and not particularly useful manner of speech.
mircea_popescu: as far as mining is concerned, difficulty is directly connected. the btc/fiat rate is contingent.
mircea_popescu: ok. any one thing, no matter what thing you pick, has some directly connected bits and some contingent bits.
mircea_popescu: i can't discern if your motivation is to understand what you did wrong or to show the world how clever you are. which is it ?
mircea_popescu: buying mining gear isn't a bet on some contingent future event.
mircea_popescu: ok. inasmuch as getting married isn;t a bet on some contingent future event
mircea_popescu: is getting married a bet that your wife-to-be has an unknown uncle in argentina who will leave her a billion dollar inheritance ?
mircea_popescu: you've come up with an edge case and are phrasing the situation in terms of that edge case.
mircea_popescu: is buying a cup of coffee in the morning a bet that fiat will collapse by noon ?
mircea_popescu: nevertheless, it doesn't follow that people going on blind dates are betting on sluts.
mircea_popescu: let's put it this way : it's true that a slut is a much better catch than a priss on any blind dating sit down
mircea_popescu: it's nevertheless not exactly true that buying gear is a bet on price dropping.
mircea_popescu: while its true that for any purchase of mining hardware there's a price point where it becomes unprofitable,
mircea_popescu: i have no idea why the notion of doing whatever the fuck you please needs a name
mircea_popescu: being an asshole works too. most people can't distinguish these anyway.
mircea_popescu: incidentally, any of you ppl watching the something awful fun ?
mircea_popescu: anyway, enough trollfeeding, see you again next year or something.
mircea_popescu: in normal time i'd be shocked that all this aggitation was over a few hundred bitcoin you managed to get off some $100 investment you had forgotten about
mircea_popescu: and then if it goes back up go back to claiming yoiuy're holding it and so forth ?
mircea_popescu: Chaaang-Noi so basically you're going to be howling about how you sold for the top just as soon as it goes down
mircea_popescu: the physical delivery side of pm is tensed to all hell. shanghai mercantile no longer delivers either
mircea_popescu: the goldbugs know it's because of the soros jew gay conspiracy
mircea_popescu: the azns failed to make inroads in the market. inexplicably.
mircea_popescu: The Hong Kong Mercantile Exchange (HKMEx) announces today it has decided to voluntarily surrender the authorisation to provide automated trading services (“ATS”) granted by the Securities and Futures Commission (“the SFC”). With immediate effect, no new orders may be placed and all open positions will be financially settled at the settlement price determined by HKMEx and its designated clear
mircea_popescu: i got through 3 pages of the latter before being bored to tears.
mircea_popescu: and a 19 page summary of the proceeds of the conference.
mircea_popescu: the ironic thing here is... i have a twelve page summary of a 170ish page sometrhing awful thread about bitcoin (made in the past coupla months i think)