mircea_popescu: also pls don't boycott mpex

mircea_popescu: mod6 quite likely.

mircea_popescu: lol

mircea_popescu: even better, point it to wh

mircea_popescu: i'll save you the 4bn lookups : mpex.co. 474 IN A 174.127.72.233

mircea_popescu: im just curious.

mircea_popescu: Scrat try this on mpex ?

mircea_popescu: topace ouch. that';s no good.

mircea_popescu: <jborkl> BFL sends a demo unit to Wired did wired say anything yet ?

mircea_popescu: mod6 was funny lol. she beleeeted it!!1

mircea_popescu: im going to cook! so... later.

mircea_popescu: but why should these be distinct ?

mircea_popescu: if someone says your name.

mircea_popescu: no, you were highlighted

mircea_popescu: this is the place for bitcoin biz.

mircea_popescu: seongyupyoo don't listen to kakobrekla and trolls

mircea_popescu: http://trilema.com/2013/regarding-money/ < if anyone feels like a read

mircea_popescu: it will be difficulty to argue that miners are extra incentivised thus

mircea_popescu: <ThickAsThieves> what if you donate the destroyed coins as TX fees into blockchain << this may work

mircea_popescu: seongyupyoo http://www.loper-os.org/?p=988 we were discussing that

mircea_popescu: i know it'd piss me off if i had to check all incoming mpex funds for this tho

mircea_popescu: but maybe

mircea_popescu: bitcoin isn't universally compatible with this sendfback thing tho

mircea_popescu: this is bad tho. you can't refuse a tx.

mircea_popescu: One potential problem with the scheme is that innocent receivers of bonded bitcoins would suffer if the shitcoins attached to said bitcoins are invoked at a later time. The obvious countermeasure is for would-be receivers of a particular bitcoin to check (using automated means, of course) whether an unexpired Shitcoin bond is attached to these coins at the particular time they are about to receive them.

mircea_popescu: "to collectively specify the least-significant digits of the total amount" ahahaha ok mpex lives!

mircea_popescu: seongyupyoo that is a big problem. i imagined you'd only allow people risk btc, and so your service couldn't be used for 1st time btc buyers

mircea_popescu: asciilifeform i confess not knowing wtf shitcoin is or how it works.

mircea_popescu: i see it.

mircea_popescu: ;;ticker

mircea_popescu: m/n keys etc.

mircea_popescu: i think that's not so hard to do tho.

mircea_popescu: so something worth doing with your time if you're in a research mood. if you're in bread earner mood dunno.

mircea_popescu: anyway, the wrap-up for me seongyupyoo : it's certainly an interesting concept. it brings however very deep philosophical questions to the fore. impossible to know if it'll acrtually be a productive business at this point

mircea_popescu: ya, and i'll be managing 100 txs x.x

mircea_popescu: seongyupyoo btc is pseudonymous, remember ?

mircea_popescu: seongyupyoo why you say people woudln't use this for 100 btc ?

mircea_popescu: you're just a humourless protestant that's why you think so :D

mircea_popescu: but i think it's fully argued, i don't see anything more for it than what;s been said.

mircea_popescu: you'd have a "gods call it" tyope of thing

mircea_popescu: my original inspiration was purely greek.

mircea_popescu: like, putting peiople in jail. this is jailed money as it were.

mircea_popescu: asciilifeform but this is the irrational part of reason : disposing of "bad".

mircea_popescu: i guess that's possible tho.

mircea_popescu: not like there's a scammer anywhere going "o, you know what, let's just do 50% of scamming"

mircea_popescu: that's not a problem. scammers are already 100% driven to scam 100% what they can

mircea_popescu: no wait.

mircea_popescu: hm... fuck.

mircea_popescu: sorta like "Saved by god"

mircea_popescu: (because now they both have the original results they wanted)

mircea_popescu: and you use that 4 to split among them

mircea_popescu: you send 2 btc to sdice, get 4 or w/e

mircea_popescu: yes, say two people each put 1 btc in. they destrouy

mircea_popescu: seongyupyoo s.dice takes 1.9% of bets is what i mean.

mircea_popescu: i never thought we'd have the problem of what to do with moneyz

mircea_popescu: well fuck lol

mircea_popescu: maybe you're right.

mircea_popescu: asciilifeform why, for the 1.9% margin ?!

mircea_popescu: asciilifeform how ?

mircea_popescu: or that, yeah, maybe. bitbet is doing something similar for bad bets.

mircea_popescu: if you lose, fuck them, do better next time

mircea_popescu: if you win then you have enough money to repay both

mircea_popescu: send it to s.dice.

mircea_popescu: o i got an idea :

mircea_popescu: still,think : in the volume approach, i can wash trade myself into the 99% position.

mircea_popescu: ikr.

mircea_popescu: even if it is still very bad i think (because bitcoin destruction is bad imo)

mircea_popescu: asciilifeform's solution is arguably better than both

mircea_popescu: the volume one is very bad but slightly less bad than the active logins

mircea_popescu: yeah.

mircea_popescu: if i scam someone i get ~99% of the funds ?

mircea_popescu: in your model (active logins) : suppose you have 100 users. i make 9900 spam accounts and log them in daily.

mircea_popescu: because it gives people perverse incentives.

mircea_popescu: i was asking because i think it's a horrible idea.

mircea_popescu: lol that's an idea.

mircea_popescu: so suppose i do 80% of trade on yoru site. does this mean i get 80% of all "Destroyed" funds ?

mircea_popescu: seongyupyoo it's got my interest, which as anyone will tell you is darned rare.

mircea_popescu: if im the most active trader i have a perverse incentive to scam ?

mircea_popescu: well wait.

mircea_popescu: o

mircea_popescu: sent to 10000000000000we ?

mircea_popescu: how is the destruction actually implemented ?

mircea_popescu: ie, your own software does this ?

mircea_popescu: yes but i mean... this is all handled at the website level ?

mircea_popescu: how do you implement this ?

mircea_popescu: i destroy his coins anyway.

mircea_popescu: what about the byzantine problem ? ie, we both satisfy trade, i wait for him to release and then

mircea_popescu: seongyupyoo atm just trying to understand the system in my head.

mircea_popescu: MJR_ ^

mircea_popescu: so i would need to make a new offer basically ?

mircea_popescu: can we deal or does he have to do 100 specifically ?

mircea_popescu: someone wants to buy just 1.5

mircea_popescu: suppose i want to sell 100 btc.

mircea_popescu: ok, another question seongyupyoo

mircea_popescu: seongyupyoo yes.

mircea_popescu: isn't pps kinda a bad model for mining ? as in, high risk of pool bankruptcy ?

mircea_popescu: topace ah yeah. i see.

mircea_popescu: say I just make a deal in order to destroy opm. just for the kicks.

mircea_popescu: one major question is how do you deal with trolls ?

mircea_popescu: kakobrekla nashx.com/about i think