405100+ entries in 0.104s
mircea_popescu: there's never a shortage of people who, if forced to eat shit by the spoon, would rather claim this savarine is wonderful
mircea_popescu: jurov practically speaking, because the world is mostly made out of Chaaang-Nois.
mircea_popescu: "An analysis of Iksil's trades revealed that he was using Microsoft Excel excessively, making a number of formula errors that caused him to underestimate the risks of his positions."
mircea_popescu: jurov he obviously means the fake gold nobody wants anymore.
mircea_popescu: "what'as the worst that can happen, inflation ? that measn the economy has resuscitated, win"
mircea_popescu: exactly. the fed is hungry and stupid. it goes "so we make 2% on 10trn which is 200bn and if we print another 10trn we make 400 bn instead ? go for it!"
mircea_popescu: they are there working dilligently at a bad definition of what the job is.
mircea_popescu: understand, cancerous cells aren't there conspiring to fuck up the body.
mircea_popescu: asciilifeform which is why i didn't consider it originally. but on a purely semantic basis it has to be pointed out.
mircea_popescu: the us economy was never this weak. not in 1950, not in 1939, never.
mircea_popescu: BitHub the friedcat guy won't sign contracts basically.
mircea_popescu: the fiorst edition was actually planned/invites sent in jan/feb.
mircea_popescu: asciilifeform burnside coingenuity davout DBordello Diablo-D3 dub FabianB_ imsaguy jborkl jcpham kakobrekla leotreasure mod6 nanotube pgp rdponticelli smickles_ ThickAsThieves thestrin1puller topace_ and everyone else ^
mircea_popescu: i have serious doubts that's happening again. ideally it won't need to.
mircea_popescu: on the recent fork it proved itself to work quite well.
mircea_popescu: there is however a messaging system build into most clients, to notify merchants if there's a split etc.
mircea_popescu: it's a moneybags issue, and who's to say they don't have a plan ?
mircea_popescu: the drop from 260 to 100 was certainly an investment. people lost money in order to prove bitcoin is not a pump asnd dump.
mircea_popescu: price will then diverge towards one chain closing in to 100% of the total.
mircea_popescu: people with weight will just pick, sell the loser buy the winner
mircea_popescu: which means everyone has 2x as many btc as he used to have : half on each fork
mircea_popescu: if the chain splits there's basically two distinct histories
mircea_popescu: chains are just that, sequences of blocks, which are made up of txs
mircea_popescu: as a result prices will rapidly diverge, panicking the mass of users, and the fork is economically resolved.
mircea_popescu: he will sell his btc on one and perhaps buy on the other.
mircea_popescu: since fork means btc can be spent independently on either chain
mircea_popescu: whoever has enough money to matter is likely to pick one chain for whatever reason
mircea_popescu: you're more resilient than him because you have no backbone, but that doesn't amount to much.
mircea_popescu: back to the matter at hand : pumping is a bad idea. universally.
mircea_popescu: which is why only new people give a shit what you think.
mircea_popescu: sure, you tend to think whatever's convenient at the moment,
mircea_popescu: and quite frankly i dislike that particular outlook because it's just bad for business, and for bitcoin in general.
mircea_popescu: not everybody is desperately trying to turn their fifty bucks into a million.
mircea_popescu: that's the whole story. stop confounding your hopes for the future with the history of the world,
mircea_popescu: they were both started about the same time (april 2012)
mircea_popescu: asicminer is a. never got that much invested ; b. never got that much traded in its lifetime history ; c. barely paid 10% of that in dividends so far.
mircea_popescu: Chaaang-Noi you claimed coupla days ago that am is going to pay more div than s.dice
mircea_popescu: ThickAsThieves maybe so. this discussion is not about the future however.
mircea_popescu: he however only blows it the direction that favours his bias.
mircea_popescu: the funny thing with Chaaang-Noi is that math illiterate people are equally likely to blow a degree of magnitude either direction
mircea_popescu: i did the math, turns out he's a degree of magnitude off, as per usual
mircea_popescu: ThickAsThieves maybe it will. he was arguing really strongly that am is a contender two days ago.
mircea_popescu: you need to hit 0.012 for 4 weeks straigjht to equal s.dice