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mircea_popescu: if "allows income and sharing of it much faster" that'd seem on the face that it... allows... things...moving...faster.
mircea_popescu: but the asset has in fact already missed something like 5 or 6 dividend payments, correct ?
mircea_popescu: your irl broker will move on after 10 dividend periods, aka a decade irl. mpex moves on after 10 dividend periods, aka 2 months irl.
mircea_popescu: now, i haven't DONE THIS FIRST, but announced it with ample time in advance exactly so as to have the opportunity for this sort of conversation
mircea_popescu: time moves at a different pace here, as proven by the fact dividends are not paid yearly.
mircea_popescu: will you be surprised if your broker says, after a few years/a decade, "sorry" and moves on ?
mircea_popescu: so, to fix your example : if a rain of meteors obliterates the nyse, and each and all scrap of trace of the existance, chain of custody and so forth of an asset
mircea_popescu: but you are familiar with the circumstance that the nyse merely trades, there's clearing houses and depositary isntitutions which actually hold the shares and settle/clear the transactions
mircea_popescu: sure, they're desperately needed, but unfortunately did not exist.
mircea_popescu: with glbse, nefario == glbse == the shares. there's no way to actually make these distinctions you'd like
mircea_popescu: this is true of mpex, yes, because mpex is correctly designed
mircea_popescu: The shares were traded on GLBSE. But GLBSE was never the ship. << what's this, cognitive dissonance 101 ?
mircea_popescu: there's sufficient reference to "owning shares" to satisfy this point.
mircea_popescu: well that's an incorrect representation. obviously it may be convenient, but it's not the case.
mircea_popescu: and back when it still was known, we were still waiting.
mircea_popescu: glbse.com is no longer responding, the website itself.
mircea_popescu: sure, the concept of spices, or the concept of cargo, or the ship's destination still exists.
mircea_popescu: if it's not heard from in X time, the company is dissolved as worthless.
mircea_popescu: basically, the reasoning is this : there was a company organised to finance a ship sent to wherever.
mircea_popescu: nah, if it doesn't come to its senses by dec 1st it's not getting reinstated.
mircea_popescu: Barack Obama will be re-elected as the president of USA
mircea_popescu: and seeing how there's maybe a coupla dozen actual people with actual investments
mircea_popescu: im mostly curious to find what exact way does nefario find to both fuck up in some entirely unexpected novel way and also render this bet moot in one fell swoop
mircea_popescu: but i mean... if not even half the shareholders are reinstated the thing is moot anyway
mircea_popescu: mkay. so " by feb 1st more than half the shareholders are reinstated in at least two of gigamining, asicminer, bitbond as a result of nefario releasing the lists to the respective asset owners"
mircea_popescu: what were decent-ish assets there ? giga, asicminer and what'd be a third ?
mircea_popescu: mk, so wanna bet the shareholder lists aren't released by feb 1st ?
mircea_popescu: so when exactly do you expect the shareholder lists to be released ?
mircea_popescu: so what makes you think that the lists will be released, but after december ?
mircea_popescu: much more importantly tho, were all the payments sorta early oct ?
mircea_popescu: if i pay you 100 btc, is it right that my program takes 100 btc to your address and 900 btc to another address of mine ?
mircea_popescu: suppsoe i have a 1k btc payment in my wallet (and it's all i have)
mircea_popescu: but anyway, a key consideration is that those shareholder lists are only useful early on. they decay so to speak
mircea_popescu: (in fact, it may well be argued nefario stole the few k btc he had of glbse money, then insisted theymos return the few hundred he held, then used that to pay SOME people and end of story there)
mircea_popescu: BTC-Mining paid some people originally. that was weeks ago. then he stopped payng, and now his site is gone.
mircea_popescu: bitfloor... went down, guy asked for our help, now he's gone.
mircea_popescu: bitcoinica's still not paid. people still entertain the notion they will get something back, obviously, but it's been what, half a year.
mircea_popescu: well... the way these things work is that there's some communication originally... but nothing comes of it.
mircea_popescu: i think it's much like missing persons. those not found in twoo weeks are never found.
mircea_popescu: yet when it comes to booking losses... nobody thinks o look, five weeks that's five irl years
mircea_popescu: irl dividends are paid yearly. in bitcoin people expect weekly, some even daily. monthly is considered VERY rarely.