405500+ entries in 0.145s
mircea_popescu: (ie, people willing to overpay just to feel warmly involved)
mircea_popescu: because you'll end up spending loads on new tech but your income is pretty much fixed (or even declining)
mircea_popescu: but the condensed moral is : it's never worth it to participate in a commodified business which is being actively researched
mircea_popescu: as a beginning investor he kinda shared some of your mistaken ideas/assumptions.
mircea_popescu: if you have the time and curiosity, read warren buffett's discussion of his woes in the textile trade.
mircea_popescu: ThickAsThieves mining is a quite different business from gambling.
mircea_popescu: Chaang-Noi and yet you don;t think 1.5 for am is too high.
mircea_popescu: and in general, there's always going to be this wild eyed "o, i will invest 100k into btc i expect 3475786895 billion"
mircea_popescu: it's a simple matter of you trying to make your shoestring into fabled riches.
mircea_popescu: selling for a right price != selling to a bunch of suckers.
mircea_popescu: Chaang-Noi well ya, but you're not exactly famed for having a clue so.
mircea_popescu: friedcat is quite apt at preventing his investors from realising their risk premiums
mircea_popescu: the hard working farmer who didn't understand banks ended up poorer than the lazy guy who never worked.
mircea_popescu: ThickAsThieves no, i think he's just not as financially clueless as friedcat.
mircea_popescu: actually erik is engaged to this girl he;'s beeb with for what, 7-8 years now ?
mircea_popescu: nah. his time to seize the moment was when the girl said
mircea_popescu: and this means deals select : idiots there, sane people here.
mircea_popescu: would you rather sell half your business for 0.15 or 10% of it for 4 ?
mircea_popescu: eric sold 10% of sdice for ~40k btc, worth like whatever, 4mn
mircea_popescu: he sold 50% of asicminer for 20k btc worth like 150k usd
mircea_popescu: Chaang-Noi that is just a result of friedcat's woeful financial management.
mircea_popescu: in 6 months we will be at the realisation that am is a mining stock, and consequently it's capped.
mircea_popescu: Chaang-Noi i think atm by mkt cap its > s.dice and am together mwahaha
mircea_popescu: if they keep it up they might just top s.dice's best month
mircea_popescu: a. then i misunderstood. obviously city centre is a limited supply.
mircea_popescu: andreas that is besides the point. who wants to live somewhere where "there are no apartments" ?
mircea_popescu: people expecting you to accomodate them rather than bending over backwards for your comfort.
mircea_popescu: well... may be three hours to lisbon or moscow, but you get the idea.
mircea_popescu: you can fly anywhere within an hour or two, the airport is 20 minutes away (from where i live) etc
mircea_popescu: i'm here specifically because it makes all of europe accessible.
mircea_popescu: then no, it does suck, and its not a question of money.
mircea_popescu: this is me when i go to conferences, press events etc.
mircea_popescu: andreas so does germany generally suck as a place to livei n ?
mircea_popescu: not stellar, but hey. they needed the cash to stay in the picture.
mircea_popescu: that was the fred wilson refernce. coinbase closed a 5mn deal a little back
mircea_popescu: a house in germany is worth 50 btc just on the premise it is allowed to stand.