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mircea_popescu: in your model (active logins) : suppose you have 100 users. i make 9900 spam accounts and log them in daily.
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: yes but i mean... this is all handled at the website level ?
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: isn't pps kinda a bad model for mining ? as in, high risk of pool bankruptcy ?
mircea_popescu: say I just make a deal in order to destroy opm. just for the kicks.
mircea_popescu: seongyupyoo so we were discussing your idea earlier, the nashx
mircea_popescu: topace you mined on his pool yet he didn't have the btc ?! odd. anyway, thanks.
mircea_popescu: did you default on some obligation and end up with a payment schedule sort of arrangement ?
mircea_popescu: your wealth is, much like your mistress, always ready to ditch you if you suck.
mircea_popescu: i prefer to express that idea in the terms of the converse perspective.
mircea_popescu: no, pirate was just a guy trying to leverage "lot of trust" into "give me money", with no businessm odel.
mircea_popescu: i think the skepsidyne integrated node is pretty much the obligatory blueprint for all such pooled mining farm ventures.
mircea_popescu: nevertheless, people still chose to pocket the investor's hardware.
mircea_popescu: there was some marginal business sense in the old gpu days, because running a large gpu farm was non trivial
mircea_popescu: people who can't aren't numerous enough to make anything of the sort you're contemplatin workable.
mircea_popescu: this mining farm thing doesn't work. people who can afford asics can just get them
mircea_popescu: pretty much not one single attempt to date worked out.
mircea_popescu: before you ask : offering to buy mining gear with opm is scammy by definition.
mircea_popescu: BTCOxygen in general people presenting themselves with a scammy nonsense thing tend to not be in the wot.
mircea_popescu: lippoper it is not out of date inasmuch as btc price does what it says.
mircea_popescu: whores are people too, they have their tickle spots, their likes, etc
mircea_popescu: ThickAsThieves depends. it may be the coke, sure, but more often than not it's quite animalic.
mircea_popescu: they work either for themselves, or for the coolest bidder.
mircea_popescu: whores don't work for the highest bidder. they merely pretend to.
mircea_popescu: KRS-1 now imagine all that + being paid in worthless govt script for getting quite really killed.
mircea_popescu: ideally you want to be the fireman in winter, not dry late summer.
mircea_popescu: "Wells was a loyal employee—in 10 years, the only time he had called in late for work was when his cat died."
mircea_popescu: s/a guy without a family/ a guy without a family who cares about you pointing guns at him/
mircea_popescu: however, bitcoin users are the balding delivery man. the 5 inch gash is exceedingly more likely than the successful scavenger hunt.
mircea_popescu: asciilifeform if there's a man with a rifle standing by it a hot chick wearing just a belt still can rip anything off she pleases.
mircea_popescu: when your heart sends a pulse the small vesells in the retina dilate.
mircea_popescu: iris scanning works by looking for pulse deformations.
mircea_popescu: and there's inertia in the world, people stick to what worked in the past
mircea_popescu: topace only recently we became rich enough for most services rto afford this
mircea_popescu: i would guess they just need to do a complete audit by now
mircea_popescu: i wonder if anyone is noticing the striking similarities between the debates surrounding assignats back in 1790s France and the current debates re bond buying/tapering going on in the US.
mircea_popescu: BTCOxygen a business plan is a good start. a wot presence is necessary.