413700+ entries in 0.117s
mircea_popescu: mjr_ amuysingly, people are still proposibng that bitcoin financials be handled by "colored coins:"
mircea_popescu: seems italy is balancing its budget roman empire style.
mircea_popescu: Italian police have seized a record (EURO)1.3 billion ($1.7 billion) in cash and property from a single person, a Sicilian alternative energy entrepreneur alleged to have close ties to the Mafia.
mircea_popescu: that thinfg is becoming a study in creative ways to fail
mircea_popescu: bgupta fucking fate of doom, trying to protect bitcoin from attacks.
mircea_popescu: so why bother with bitcouin, if you wanna pyramid go trade moonrocks.
mircea_popescu: if all they do with their bitcoin is try and resell it ...
mircea_popescu: and this is why the entire adoption thing is so important.
mircea_popescu: people with a clue priced out of the market by the lemming mania isn't quite as great,
mircea_popescu: there is no point discussing events and externalities and whatever else. fuck them over, it will.
mircea_popescu: that's not the point tho. the point is that people are buyingsomething they can't afford and haven't researched on the unfounded hope that it will "go up more".
mircea_popescu: this is just a bunch of poor and desperate people who are unemployed and stuck with their computer in a barely furnished apartment
mircea_popescu: whereas there's much larger ones painting a diff picture.
mircea_popescu: i understand what you're saying but i think you're focusing on relatively small signals
mircea_popescu: the market cap hasn't been the limiting factor since mid feb.
mircea_popescu: money changing hands does not necessarily reflect any sort of adoption
mircea_popescu: by that logic every time i pay a waitress i'm getting married
mircea_popescu: the reddit crowd of 50k people with 50 bux each is irrelevant.
mircea_popescu: all it takes is telling the few dozen people with money to stfu already.
mircea_popescu: so basicvally... any dollar over 100 anyone pays on a btc is a dollar lost.
mircea_popescu: and when they finally panic they'll expect actual players to buy from them.
mircea_popescu: in that a bunch of noobs / "daytraders" in their own mind are cycling the same btc among each other at the exchanges
mircea_popescu: this is a very dangerous non=participatory run-up by now
mircea_popescu: jurov americans are insane about their little country.
mircea_popescu: and b. if you do do it i will insulate you from market downturn
mircea_popescu: a. i am your regulator, if you don't i'll fuck you with my nonsensical regulations
mircea_popescu: now the dems don't want to sell their own houses wives and daughters to pay for it
mircea_popescu: TradeFortress ok but it creatges this pernicious "listen to us and we'll insulate you ferom marketplace effects". it's how clinton destroyed the us banking sector
mircea_popescu: (and gavin paid him iirc anyway - moar central planning nonsense()
mircea_popescu: obviously as market matures, idiots get pushed out, more money more competence etc stuff will improve.