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mircea_popescu: so yeah, if you're buying containers or ships' worth from China paying in btc makes (a lot of) sense
mircea_popescu: seeing how fuckall wants to be bothered with letters of credit bs.
mircea_popescu: maybe high volume merchants, such as international trade
mircea_popescu: btc simply isn't either adequate or useful for the consumer. it's value propositions appeal to the financial sector pretty much exclusively.
mircea_popescu: consumers have no business in btc. consumers are in general dizzy cows that need their hand held, need reversible transactions, can't use computers etc.
mircea_popescu: but anyway, btc is the ideal currency of financial transactions.
mircea_popescu: you buy 5 usd, you go to bed, you wake up, you now have 4.99x usd.
mircea_popescu: it's not particularly intended to or useful as a trade currency.
mircea_popescu: so anyway, re EskimoBob : btc is already delivering all the value it will or needs to deliver : it's not ddebase-able.
mircea_popescu: i guess in the mid term he'll be holding them hostage to end the middle east crisis.
mircea_popescu: Anduck he "accidentally" made some double payments of btc cash
mircea_popescu: gigavps course before he was holding them hostage to get w/e, theymos' 800
mircea_popescu: but that's a technical point. what'd you expect be happening to glbse assets ? noffin much.
mircea_popescu: not really, cause an explosion technically consists of expelling matter outwards. no matter.
mircea_popescu: Aug 14 01:19:04 <gribble> Best bid: 11.8901, Best ask: 11.938, Bid-ask spread: 0.04790, Last trade: 11.8901, 24 hour volume: 52892, 24 hour low: 11.45, 24 hour high: 12
mircea_popescu: o nano has done some serious work on ticker huh ? sweet.
mircea_popescu: According to my guy he used a hook called "after_commit" where needed, but I'm currently reviewing the code. Meanwhile if you can execute it that means he didn't do enough!
mircea_popescu: this is too good. i wish for myself this proscriptive ability where you draw the limits of what may to fail aforehand.
mircea_popescu: "Finally to answer your specific example: a user balance won't be able to be withdrawn to negative because we would have checked it (and the balances work without bugs)."
mircea_popescu: come to think about it... developopper sounds better than developper.
mircea_popescu: this vaguely reminds me of the hapy-go-lucky attitude of that bitdaytrader dood, who was explaining how his best friend made over 21mn btc (by exploiting one of the umpteen bbilion holes in his "code")
mircea_popescu: Hi Mushoz, I understand this concern, there was a general lack of security features, that we tried to correct to the best, and that's why we're in beta. Hey, we already had a bug with Davout, because no check of the leverage!
mircea_popescu: "I'm having mixed feeling towards this project. The security measures you have implemented seem really great, and inspire great confidence in your service. Using the source of a service that had some major issues, not so much."
mircea_popescu: anyway, this double p thing is quite fetching. i think i will double all my p's from now on given that english uses entirely too few p's in the first pplace
mircea_popescu: I handed over to the developper and meanwhile added a routine to check and correct users leverage.
mircea_popescu: Nice, but you could have at least plugged the most obvious security holes of the Bitcoinica source code before re-using it.
mircea_popescu: talk to me in 5 years, when we're back rubbing sticks together cause you fucked up civilisation.
mircea_popescu: but as a matter of principle, i don't think it's a good idea to allow such a thing. you will conceivably end up with 2mb of signatureporn
mircea_popescu: Azelphur speaking of that bot, how's dev coming along ?
mircea_popescu: there's little difference between assbot and twitter anyway, seeing how it just echos
mircea_popescu: my ego is kinda stonework & masonry. pretty big, but also pretty uninflatable.