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mircea_popescu: but i am loath to change it because i have never done so yet.
mircea_popescu: now it's 0.26 so based on the volatility we could say bot is hinting at interest rates over 50% per month.
mircea_popescu: now, exactly how much he considers that cutorff to be... in many months it was 0.02 or 0.03 etc.
mircea_popescu: this is an artefact of how the bot is financed, not a mispricing per se,.
mircea_popescu: he could theoretically buy 10k calls for 10 BTC total, so at 0,001 and then get 25 btc for his b ond
mircea_popescu: if someone ahs a bond in at say 25% and there are 10k btc at lower % than him
mircea_popescu: i mean this : each call sold counts as 1 BTC in the needed capital.
mircea_popescu: bot has a "won't sell a call for under X" to protect the book from padding. this because of the open auction style of the bonds financing it. you understand what i mean ?
mircea_popescu: they are just very expensive to my eyes. but it's what bot thinks.
mircea_popescu: pgp his point is valid tho, should never be quoting above 1. rough edge there.
mircea_popescu: we're still working to mapping out this entire thing, it's not exactly a trivial task
mircea_popescu: and based on the past history it had an engine made. as i said yest, i think security and pricing got melded together in some edge cases
mircea_popescu: "i have spent 8 years in romania, and im shocked that this mind is coming from this country :)"
mircea_popescu: the sort of drop it's seen (260 -> 50) makes it think the world is ending really.
mircea_popescu: Namworld i'm aware the bot is in "we've been attacked by aliens" mode.
mircea_popescu: pgp i might be confused, but afaik it was announced as already done
mircea_popescu: Skarr_ no no. you can't make the order at all if not funded.
mircea_popescu: so basically... there's two things here. what are you discussing, the exchanges or the web selfserve brokers ?
mircea_popescu: no exchange will tolerate this. any order placed is firm and executed.
mircea_popescu: gesell most websites (etrade etc) will allow you to place any set of orders you wish.
mircea_popescu: unfortunate for them that the 3-4 people who fit the bill and are in btc can't stand them
mircea_popescu: they desperately need to hire somebody who knows wtf trading is and obey them.
mircea_popescu: basically from what can be seen from the outside they take each order and do a mysql select against the entire book
mircea_popescu: i have raid 1+0 ssd's, they're probably faster than their ram
mircea_popescu: so far what they've done is they've got a 128gbserver to run their shit in ram
mircea_popescu: yeah they've locked btcwithdrawals for unverified accts.
mircea_popescu: is it titled "i am a fractional reserve ask me anything" ?
mircea_popescu: if this isn't a scam toppling over i don't know what is.
mircea_popescu: MJR_ i was explaining a month or two ago how to get a fixing market for btc.
mircea_popescu: Doffx a concerted effort to push local bitcoins would be great i guess.
mircea_popescu: otherwise the merchants will get fucked, not want to try it again
mircea_popescu: so were you looking to buy something or just get heartbroken whenever bot's away ?
mircea_popescu: or was. heh i guess we've been chatting for ten minutes here.
mircea_popescu: jborkl i've had issues with the bot not quoting these past days because it couldn't get the price feed and other data.