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mircea_popescu: we have the wot system, it works just fine, why centralise ?
mircea_popescu: there's nobody with the intellectual ability to do such a thing.
mircea_popescu: meanwhile irl : "Blockbuster Lawsuit: Whistleblower Alleges Reuters Releases Data Early to HFT Clients"
mircea_popescu: well ya. so random noob showing up on forum and proposing to "advise your wealth" or to "pls halp me r spanish mother of two" or to "supersikrit tor broker of irl securities"
mircea_popescu: there's a process to obtain a bitcoin financial license.
mircea_popescu: well that's because escrow could verify that a push was made.
mircea_popescu: MJR__ the issue are not the parties themselves, but the escrow. that's the leak here.
mircea_popescu: which makes both the exact same thing, sobletters on the interwebs.
mircea_popescu: and without viable escrow, the deal simply is, "i ar anon, send monyz plz thx"
mircea_popescu: there's nothing he can do. if he has a means to actually verify tx then it's not anon.
mircea_popescu: A claims he's delivered 100 AAPL. B claims he never got it.
mircea_popescu: let's play this out cause apparently it's hard. A has 100 AAPL. B has 100 BTC. X is escrow.
mircea_popescu: and then two years down the road be served with tax fraud, money laundering and rico conspiracy
mircea_popescu: yet i am going to send valuable btc to some anon noob.
mircea_popescu: so i can currently take a fiart position in any stock, fund, whatever, by calling my browser.
mircea_popescu: how is it completely different. it works on the premise "i'm nobody give me dough".
mircea_popescu: it could happen, and i bet you it'd be faster than you'd think
mircea_popescu: for instance, a hot young thing walking into your office naked takes all of 6 seconds
mircea_popescu: anything can happen real fast or at least faster than you think
mircea_popescu: MJR_ ya well not everything that relies on trust or appreciates in value is a ponzi.
mircea_popescu: Intrade’s director, Ronald Bernstein, said in a statement that the shortfall resulted from unspecified actions by two other parties, whom he did not name.
mircea_popescu: The online betting Web site Intrade, which gained widespread notice for serving as a predictions platform for elections and events not related to sports, is facing liquidation because of a $700,000 cash shortfall, a development that comes a month after it halted trading and froze its customer accounts.
mircea_popescu: <MJR__> ThickAsThieves: it is ponzi mode << no it's not.
mircea_popescu: doesn't mean shouldn't be worked on. by us, preferably.
mircea_popescu: Diablo-D3 im just saying, suppose somebody somehow DOES manage to optimise it.
mircea_popescu: as it will be our first line of warning to hash weakness
mircea_popescu: is exactly what i'm saying. could push up energy effuiciency what, 50%
mircea_popescu: it's trivial if you're thinking software. as far as the chip goes, it has to be actually etched on the chip.