410100+ entries in 0.124s
mircea_popescu: 'm waiting foer the day when "the press" goes "everyone who listened to us got fucked for a slice of ~20 mn in the btc market"
mircea_popescu: Rio Tinto’s Kennecott mine in Utah- the US’ 2nd largest silver mine and world’s largest copper mine has just suffered a massive landslide which will likely shut down production at the mine for years as upwards of 1 billion tons of dirt and ore have collapsed into the basin.
mircea_popescu: either riding her to work or work on riding her works.
mircea_popescu: since the average cum is ~2ml, the average cunt runs on 18.5 liters / 100km efficiency, which isn't so very great. on the other hand emission doesn't pollute, being the exact opposite of pollution.
mircea_popescu: "adding it all up, the average cunny rides about 10.8 meters per fucking. since a year is 12 months long it comes to a lifetime's worth of riding being about 9.07kms.
mircea_popescu: Adaugind toate astea rezulta ca pizda medie parcurge 10.8 metri per futai, in medieii. Cum un an are 12 luni rezulta ca intr-o viata (de 70 de ani) pizda medie parcurge-n pula 9.07 kilometri in decursul vietii ei. Cum ejacularea medie are cam doi mililitri rezulta ca pizda medie scoate o economie de 18.5 litri la suta de kmiii ceea ce-i de altfel destul de ineficient. Pe de alta parte emisiile nu polueaza (ci sunt chia
mircea_popescu: ~120 mn kms of unused cunt in the world because of the delta.
mircea_popescu: believe it or not i actually have an article about this.
mircea_popescu: this switch would by far dominate any functioning market.
mircea_popescu: pgp mining at the very least has the impact that when btc goes under mining cost miners move from selling to buying.
mircea_popescu: savetheinternet mpex does about 80% of bitcoin denominated financials trade.
mircea_popescu: logically the only reason they'd say anything about it is if they bought high and it counts as a capital loss.
mircea_popescu: what's to trade ? they who wanted btc have them, they who wanted dollars have them.
mircea_popescu: so it's insolvent. what problem of yours is that ? you bring fiat in.
mircea_popescu: the question is more if the govt is capable of defending new business.
mircea_popescu: isn't panama one of the select few countries of which the us kidnapped the head of state ?
mircea_popescu: you tell me out of 10k banks there's not a single one you can partner with ? that seems improbable.
mircea_popescu: there's what, 150 countries in this world. each has at least five banks.
mircea_popescu: i really think the best way to go is partner with licensed institutions rather than try and do bermudadollars or w/e
mircea_popescu: if you are already running an exchange you'd better have the paperwork in order already, in which case...
mircea_popescu: but then again, i participate in 20+ discussions a day, all end with "yes, this is yet another niche, just need the people with a clue to do it"
mircea_popescu: it really is a perfectly valid and probably profityable niche.
mircea_popescu: pgp the idea is for someone who has the ability to make fiat settlements to run the future.
mircea_popescu: so it's pretty much limited to the exchanges. few actuallty have the sense to know wtf this all is so...
mircea_popescu: cash settled is meaningless bullshit practically indistinguishable from a scam.
mircea_popescu: so there must be someone with the ability to make deliveries.
mircea_popescu: ah. yeah, i've been talking to people. i will list futures, but i will only list physically settled.
mircea_popescu: it's a fiction, and financial fiction never happy ends
mircea_popescu: currently everyone is play-pretending this "unlimited theoretical liability" angle. it's just not workable in any practical way.
mircea_popescu: there's a reason llc companies irl list their capital.
mircea_popescu: more generally the limited capital and orderly folding is a very important concept that i've been discussing with other people looking to make financial instruments in thsi chan
mircea_popescu: fold orderly, you've contributed no market instability and in fact an orderly folding is better for one's reputation than continued success.
mircea_popescu: this is much better than exchange-level implementation because it's so much easier to limit things. throw 1k btc at this project see how long it takes you to lose it all.
mircea_popescu: yes, i was about to say : a simple way to test rbh specifically is to just open a brokerage offering rbh-based leverage to customers.
mircea_popescu: (and the people who really need the instrument, ie miners, are much too financially clueless)
mircea_popescu: the thing is, most of this is yet immature. take the idiff futures as a great example. it will be a great instrument down the road buyt for now the underlying is just too nonsensical.
mircea_popescu: this could be done via hedge funds or via other vehicles, but yeah
mircea_popescu: truth of the matter is there;'s plenty of room to get mpex stuff packaged as a sellable vehicvle. both equities and derivatives (diff, fiat, etc)
mircea_popescu: certainly the idea is to keep financial instruments as sophisticated as can be borne.
mircea_popescu: however, we don't have the market to support it yet is my estimation.
mircea_popescu: an upgrade to a more ellaborate model (such as but not necessarily limited to or equal with rbh) has been in the plan since 2011.
mircea_popescu: they just have the advantage of not printing this as mpoe bot does.
mircea_popescu: but there's tons of other issues. so i think pretty m,uch everyotne's models are off the charts,
mircea_popescu: just all the wash trading going on strictly for mtgox's desire to keep on lieing about its market share should be enough of a problem
mircea_popescu: anyway, i think the financial tier is well spooked by all the insanity propagated at the exchange tier.
mircea_popescu: notably pretty much noboduy is goiong in the midmarket either,
mircea_popescu: this on top of the usual consideration of just letting things be.
mircea_popescu: as it'd be unfair to bondholders (whether any harm comes to them from it or not)