415300+ entries in 0.121s
mircea_popescu: you run an exchange you need some people. not negotiable.
mircea_popescu: the thing is, it takes 9 months to get a child out of a woman. not negotiable.
mircea_popescu: think a little about the 10k a month and under exchanges.
mircea_popescu: but this is the case of mtgox. be it as it may, in most spaces the top dog can at least pay his salt.
mircea_popescu: ( 2400 salary + 2800 tax + 1500 fixed) * 5 = 30k usd in employee costs.
mircea_popescu: since there's no competition on fees its clearly not a profitable space.
mircea_popescu: MJR_III simply like this : i look at the immense fees.
mircea_popescu: or you have mtgox, which clears about enough to cover its costs.
mircea_popescu: you have cases with 10k a month which come to 200 btc.
mircea_popescu: listen MJR_III this fees stuff... think for a moment. no exchanger makes money.
mircea_popescu: the girl made a very good point as to the cost of financial ineptitude vs coding inavbility
mircea_popescu: smickles the redeem codes was a sorta attempt, but meh.
mircea_popescu: MJR_III so far even a fucking naming convention is impossible to contemplate, let alone implem,ent.
mircea_popescu: well... other than the obvious "cause they're 16yo aspies"
mircea_popescu: MJR_III that is a good point actually. i have no idea why everyone's so hell bent on being special unique etc.
mircea_popescu: "this govt's policy has seen our currency drop 40% against btc"
mircea_popescu: MJR_III kinda what it was intended as, you know ? little notes saying you have gold somewhere
mircea_popescu: servicing atms is a few levels of complexity atop that
mircea_popescu: but it may take a while. we're not quite able to make asics yet
mircea_popescu: i imagine the practical way this will work will be the magic cash dispenser
mircea_popescu: but that's an entirely set of problems from the bitmit thing
mircea_popescu: i still don't think bitcoin is adequate for the retail space
mircea_popescu: such as the woman with no underwear on but five bucks in her pocket.
mircea_popescu: fiat is regularly used in mission critical situations,
mircea_popescu: MJR_III well... it also yet benefits from a very low bar.
mircea_popescu: "ebay for bitcoins" is a marketing ploy, different beast.
mircea_popescu: "it costs you less to buy your lube in btc on our site than at your corner lube shop" is a vp.
mircea_popescu: (leaving aside they don't even know this is where it starts)
mircea_popescu: you have five minutes to find me a way to spend 10 btc on items that i could conceivably use during the remainder of 2013
mircea_popescu: yeah. they also don't have the chances of a real business.
mircea_popescu: i can usually sniff out a half decent manager from a mile away
mircea_popescu: there's a lot to business that's not taught in any c++ manual
mircea_popescu: and this isn't random dickery as in "you must be old" or some shit. the ops experience shows.
mircea_popescu: a woman that was in charge of maersk pacific ops for the past five years
mircea_popescu: some guy who was the near east distribution manager for coca cola since 1992
mircea_popescu: you can probably make a fuckton selling folk remedies and straight silicone injections into the ass. heck, some people do.
mircea_popescu: i don't care how much profit the doctor's office makes.
mircea_popescu: the only way to obtain such a thing is if someone with a lot of fmcg experience and contacts actually starts one.
mircea_popescu: that aside : bitcoin desperately needs an ebay killer ap.
mircea_popescu: this "here's a script that sorta replicates functionality now we wait for "the users" to make us a business" is nonsense
mircea_popescu: imagine if some kid made a html page which read THE REAL AMZON
mircea_popescu: unbalanced basically it's yet another rehash of the old and by now stale "i wrote a script therefore this is a business".