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mircea_popescu: Bugpowder actually... the russians found something like three tons under a lake.
mircea_popescu: we're armchair economists, so we get to pick our cost model.
mircea_popescu: just showing that speculative thought is not always economically relevant.
mircea_popescu: diamonds are not scarce and debeers is just manipulating the price.
mircea_popescu: how much is a 2 carat, sdlightly yellow, princess cut no impurities diamond worth ?
mircea_popescu: one idea may be that s.mpoe shareholders can never make a loss.
mircea_popescu: dude, i have no idea. there's an old article discussing this, i'm no better.
mircea_popescu: tiberiusiv any field of human activity will have open questions.
mircea_popescu: "Hey All I Am a long time miner with a low budget. My 1 Gh/s isnt cutting it anymore, or has it for a long time. I need our Help to Secure a Batch #3 Avalon. I Have A Listing Up On BTCJam"
mircea_popescu: "MagicalTux already explained that he is writing a entirely new site that is decent and not a stupid magic the gathering trading script. "
mircea_popescu: Bugpowder long time user guy, im sure he didn't step into anything obvious.
mircea_popescu: Bugpowder then there's the people with 50k waiting for 3 months for the "developers" to look into it
mircea_popescu: as far as i know you're the only person with a positive experience with them.
mircea_popescu: "Most open tickets have a resolution within 20 minutes. Remaining cases are when there is not enough information, or when issues are not simple user-specific issues (or linked to an outage)."
mircea_popescu: well... most webservers come prioritised out of the box
mircea_popescu: they're prolly going to move it on a separate machine seeing how i the "how mpex does it" article made the rounds
mircea_popescu: MJR_III because they run a webserver on the same machine
mircea_popescu: so basically you can put it in, but it won't list it in the book ?
mircea_popescu: wtf is it about bad ideas that makes them so irresistible to people.
mircea_popescu: a restatement of the efficient market theory, which is broken even in fiat.
mircea_popescu: "mjr: if satoshidice future was more certain, the price would reflect it, it doesnt." << well, this is fundamentally a broken argument.
mircea_popescu: but they can't publish that as it'd tell a real sad story.
mircea_popescu: 100 dollars deposited allows you an order of 10bn btc at 0.00000001 eacgh
mircea_popescu: s.dice paid ~70k btc in a year and the average mkt cap past month is 500k
mircea_popescu: lol @ "unless there is legislation STOPPING you it is implicityly legal" "WRONG" part
mircea_popescu: course corps like s.dice have no choice in the matter, as there's no practical way to deploy.
mircea_popescu: so in a very macro sense you are better off as a portofolio investor with the "have to sell ot realise" paradigm, as inconvenient as it is
mircea_popescu: and the 1-10 btc holders who move the price 30 to 70 to 30 to 70
mircea_popescu: or moreover, fractured : the big time holders who don't participate in price formation
mircea_popescu: the fact that stocks work as bonds (ie, they issue dividends)
mircea_popescu: Bugpowder exactly. which is why i see why the cavirtex ppl wouldn't really want to pay dividends.
mircea_popescu: and YES, buffett COULD wire himself all their capital in uganda and run off.