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mircea_popescu: US unemployment merits third round of money printing, says Ben Bernanke
mircea_popescu: jcpham in general you do but that one was for the birds
mircea_popescu: moreover, if god himself guaranteed a cracked currency
mircea_popescu: first off, a crack would make bitcoin useless to begin with.
mircea_popescu: a guarantee, e.g. no central bank or government to offer a sovereign guarantee, a crack would make bitcoin illiquid and worthless. "
mircea_popescu: "Recently I wrote about how the viability of bitcoin was limited by the risk of total, sudden liquidity collapse . The argument can be summarized as saying that without institutions whose business is transacted in it, bitcoin suffers from a bootstrapping problem whereby a crack in the crypto scheme would create an instant wave of counterfeit and debasement. Since there is no entity to restore trust in the currency with
mircea_popescu: "BitCoin, brought to you by the same power elite who own the money printing industry.
mircea_popescu: person actually thinks the 50 bux wordpress charged for a domain reg is why btc doubled.
mircea_popescu: you know, i should probably do a buncha Bank of MPEx paper btc notes
mircea_popescu: Eduard_Munteanu zi bre, care-i diferenta intre o pisica alba si-una neagra ?
mircea_popescu: you don't HAVE to use leverage you don't want now do you
mircea_popescu: anyway, never heard of em. use schwab or edward jones or w/e
mircea_popescu: why trade bizarre illiquid shit... i mean, mpex and bvb are not exactly the same size, but not exactly that far off.
mircea_popescu: you wanna trade forex, get an account on the actual market
mircea_popescu: right. i don't understand why anyone'd bother, other than to hedge speciffic risks
mircea_popescu: Eduard_Munteanu if that thing ain't rigged i'm a girl and don't even know about it.\
mircea_popescu: but that notwithstanding, btc and btc stocks have nothing to do with fiat rules and fiat definitions.
mircea_popescu: i have no idea, haven't followed that since the late 90s
mircea_popescu: so they end up "investing" in whatever, btcjam and miner bonds
mircea_popescu: ya, because most bitcoiners have bupkiss understanding of pricing risk
mircea_popescu: the entire tax system is there to help. hire good fiscal representation and use it.
mircea_popescu: dudes, srsly. you're thinking like poor hicks in arkansas or some shit.
mircea_popescu: makes no sense. in a properly structured vehicle you pay whatever, 3% if anthing at all
mircea_popescu: Eduard_Munteanu ya well, that has little to do with btc. you can use goats or salt to commit fraud.
mircea_popescu: i've bought plenty on my own account, as any other game subscription./currency/whatever
mircea_popescu: that's the definition. unable to pay exigible demands => bankrupt.
mircea_popescu: you can make a company to warm the atmosphere if you please.
mircea_popescu: ThickAsThieves you wouldn't call it anything. when power bill comes you just pay it and that's that.
mircea_popescu: apparently wow is not ok but some cs-thing is or something like that. he had a list.
mircea_popescu: got audited, he claimed it's for employee's productivity
mircea_popescu: i know some guy that charged all his game subscription to company
mircea_popescu: if the extra 5 pays electricity for a rig that makes no difference in this equation.
mircea_popescu: if next year company A spends 55, makes the same 70, it pays tax on the 15 only
mircea_popescu: ThickAsThieves company A spends 50, makes 70, pays tax on the 20.
mircea_popescu: ThickAsThieves the fiat you spend to pay for fixed costs is a deduction.
mircea_popescu: there's also the fiscal consideration. spend fiat, it counts as a deduction.
mircea_popescu: this lesson has not been lost on anyone i've talked to.
mircea_popescu: the miners that saved their mined btc made a killing this year, for instance
mircea_popescu: Eduard_Munteanu sure, some btc will always be on offer.