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mircea_popescu: of course it has to first get the cat into the washing machine.
mircea_popescu: hiowever, once it's complete there's a few day's worth of facepalming and going "wait, we are doing W?HAT ?!"
mircea_popescu: in my experience any devteam resists such an effort like cats resist washing, because coders love to write but hate having to read code.
mircea_popescu: this wouldn't take much longer than a few weeks for a first draft, which can then be argued and refined
mircea_popescu: but i think if we can get one (or ideally multiple) people to summarize the code
mircea_popescu: jurov anyway, the problem isn't as much the drama, but moreover that a single-source codebase is both non-bitcoiny and suspect.
mircea_popescu: then once we have spec they can fix their fucked codebase and release a proper client
mircea_popescu: and ideally remove the current devteam's license to release new clients.
mircea_popescu: sipa jgarzik: have we seen a block which affected 5000 transaction index entries?
mircea_popescu: this sort of shit belongs in onboard code for vibrating dildoes at the most.
mircea_popescu: and more importantly bitcoind doesnt die with "failed to create transaction"
mircea_popescu: i am still steaming over the fact that i can't create abitrary size txs
mircea_popescu: mod6 actually once you're done with the iphone app, a very good use of someone's time is to go through the codebase and summarize it
mircea_popescu: pigeons on superficial analysis ripple seems just the place where the curerent bitcoindev rats will sucrry to
mircea_popescu: look what happened in ny when the clearing corp got flooded
mircea_popescu: mod6 of course, the blockszie issue wasn't hitting the transport layer
mircea_popescu: versus the keep the specification equal to the unreadable codebase.
mircea_popescu: keep the specification open and the implementation proprietary
mircea_popescu: in a sense mpex is constructed exactly opposite of how bitcoin is constructed.
mircea_popescu: people would just mindlessly replicate it (see bitfinex) then we'll be well fucked
mircea_popescu: mod6 one of the key reasons why i keep the code closed.
mircea_popescu: usure ? cause i wrote about this and iirc shrem was saying btc
mircea_popescu: pigeons wait. didn't bitinstant lose the BTC on vircurex ?
mircea_popescu: pgp the reason is they're mixing bizdev with the fee schedule.
mircea_popescu: if we scale this liniarly we discover it'd cost more than it's worth to have ti trade
mircea_popescu: what's sad is that they take ~5k a month in hardware costs to process 8k trades in 30 minutes
mircea_popescu: MJR_ mpex doesn't do fiat tho, so it's kinda moot for this problem
mircea_popescu: pizzaman1337 no but srsly, this is the sort of thing people pay in the 100's of k's for,
mircea_popescu: pizzaman1337 this ain't knitting we're discussiong here man.
mircea_popescu: pgp bitfloor, the guys currently owinfg like 900x what they'll ever make ?
mircea_popescu: devteam, miners, pool ops, exchange ops, everyone is... you know... draftees
mircea_popescu: the problem with bitcoin in general is the userbase is dumb.
mircea_popescu: problem is every exchange wants to act as if in a vacuum, because
mircea_popescu: or independently, but pgp is a good solution to keep it safe.
mircea_popescu: pgp that could easily be implemented using the mpex push for isntance
mircea_popescu: Mar 11 09:19:27 <mircea_popescu> this process is called fixing, it's widely used to obtain a price.
mircea_popescu: Mar 11 09:19:14 <mod6> think i just need to add some sleep time....
mircea_popescu: Mar 11 09:19:08 <mircea_popescu> now a b and c review their books
mircea_popescu: Mar 11 09:19:00 <jurov> ah that kind of meeting you mean
mircea_popescu: Mar 11 09:18:58 <mircea_popescu> x has to call a lower price now
mircea_popescu: Mar 11 09:18:52 <mircea_popescu> 25 + 70 > 50k so its not fixed
mircea_popescu: Mar 11 09:18:45 <mircea_popescu> then they say. a buys 50k usd. b sells 25k usd. c sells 70k usd.
mircea_popescu: Mar 11 09:18:27 <mircea_popescu> a, b and c go through their books, see what customers want, see what they want on their own account
mircea_popescu: Mar 11 09:18:13 <mircea_popescu> chair X calls the meeting. X proposes price, say 47.5
mircea_popescu: Mar 11 09:18:00 <mircea_popescu> ok, it's like this. suppose the three main dealers are A, B and C.
mircea_popescu: few people involved actually have enough finance knowledge to get it going yet.