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mircea_popescu: In a scheme traced to a Russian computer and a hacker who calls himself "vorVzakone,"
mircea_popescu: this isn't consumer tho. suppose you want to buy 5 container's worth of cutlery.
mircea_popescu: instead of everyone spending millions and waiting around for months for the banks to bother moving the locs around
mircea_popescu: you're not very well equipped to think, is the problem. but otherwise, hey.
mircea_popescu: well, the problem with "enforcing" is that it takes effort. X does something stupid and now Y has to drop whatever he's doing, expend time and energy FORCING X to do the right thing ?
mircea_popescu: but i mean... a pentium 4 is worth more than 5 bux no ?!
mircea_popescu: so you know... MPOE is the financial center of lending by a fat margin.
mircea_popescu: and in any event, i don't think THE ENTIRE world of BTC paid 2k interest on deposits last month.
mircea_popescu: if someone puts 5k at 1%, someone else 2% at 3% and someone 100 btc at 25%
mircea_popescu: cause that's what bondholders ask for. its an auction model
mircea_popescu: thestringpuller well people can always put their btc in more bonds
mircea_popescu: the thing is see, if bot trades 20k contracts it matters A LOT
mircea_popescu: it ALWAYS makes money for shareholders on the grounds it can never lose any.
mircea_popescu: well 1. you mean mpoe or the bot and 2. make money for whom ?
mircea_popescu: eventually you passively get all your capital back if the business sucks.
mircea_popescu: basically, bondholders asked for 9.9%. mpoe made enough to pay ~5%. the rest came out of their capital, as a sort of amortisation of a bizzare kind
mircea_popescu: by now mpex is obscure enough to warrant a fucking qualification
mircea_popescu: i think ima end up hiring free accounting support for random members of the public
mircea_popescu: smickles yeah i guess, but for one i'd end up with having to round interests.