459300+ entries in 0.163s
mircea_popescu: so 7.6 earthquake in the phillipines and heliben is dropping another QE bomb.
mircea_popescu: (contracts are written so the owner can never sell more than half is shares, i dunno if you read them)
mircea_popescu: moreover, the fact that the owner retains a majority of shares seems to make this plan a losing proposition.
mircea_popescu: yeah well, a. i haven't seen it happen and b. i don't see i'd stand for it.
mircea_popescu: Ignatius-otc this would require you actually releasing false information or somesuch ? sort of like an insider trading job ?
mircea_popescu: mk. so at some later point in the future you shall have profited by the drop last week.
mircea_popescu: heh. so, if you had a margined acct and shorted ON MPEX you could have made a lot more there.
mircea_popescu: tho for instance if you made money on the recent giga move downwards on glbse
mircea_popescu: well obviously the higher the volumes the stabler the prices.
mircea_popescu: Ignatius-otc but you would have to set it to be something.
mircea_popescu: BTC-Mining it might be the case that the cost of your research in terms of skill*time exceeds your profits by a significant margin.
mircea_popescu: i'm not saying it can't happen. im just talking statistics.
mircea_popescu: Ignatius-otc but looky : my position to begin with : 900mn worth of shares. my position to end with : 60mn in cash and 810 mn worth of shares
mircea_popescu: BTC-Mining so you earnestly believe you can pick them. more power to you. in my experience neither timers nor pickers make money irl, but you're welcome to it.
mircea_popescu: i got 70mn for the shares i sold, i bought them back for 60 mn, hence 10 mhn profit, is this the system Ignatius-otc ?
mircea_popescu: i rebuy 10 million of my shares, price goes all the way to 9.
mircea_popescu: now, i dump 10mn of my shares, price goes all the way to 5
mircea_popescu: burt anyway, let's see this thing. company has 1mn shares, i own 90mn of them, it trades at 10 currently.
mircea_popescu: Ignatius-otc i might be either thick skulled or missing something here.
mircea_popescu: BTC-Mining it just means there's no rational way of pickingthem.
mircea_popescu: well that's the exact sense in which glbse is unregulated : anyone can make a stock and anyone can then dillute it to hell
mircea_popescu: bitcoin is the paragon of closeness, hence it's value.
mircea_popescu: i always said, i'd rather not list anything at all than list dubious offerings.
mircea_popescu: just because they're better they will necessarily be fewer.
mircea_popescu: BTC-Mining the total market value of mpex listed assets is > 10x total mkt value of glbse listed assets.
mircea_popescu: things don't work out that way. this particular attack would made everyone rich irl if it really worked.
mircea_popescu: this theory about force price down etc is (possibly) what pirate thought he might accomplish
mircea_popescu: there's very good reasons why pretty much everyone switched ship this month, you see ?
mircea_popescu: read a little the forum, the people are quite frustrated.
mircea_popescu: BTC-Mining im just saying you have no rational way to pick. and one flower that made 20% is scarce compensation for all the duds.
mircea_popescu: Ignatius-otc let's run a scenario. i own 90% of the float, share trades at 10. now i do what, sell 5% of the float, share goes to 5 ?
mircea_popescu: i'm coming at the fact that the issuer needs to be trusted to not dillute on glbse.
mircea_popescu: which sort-of negates the benefit of putting another btc in giga's ipo and having made 20%
mircea_popescu: BTC-Mining fact remains if you put in a 1 btcf in his ipo you are now screwed.
mircea_popescu: look at how diablo messed up his contract/early investors in based on that.
mircea_popescu: BTC-Mining im not even sure what's the meaning of having a voting system.
mircea_popescu: Ignatius-otc i don't get it. he's selling his own shares cheap. how is this dillution ?
mircea_popescu: mpex contracts are actually signed, this guarantees their integrity, and offers the investor some further safety.
mircea_popescu: now, a simple point of fact : nobody can create shares on mpex. this offers the investor some guarantees against dillution, at least.
mircea_popescu: Ignatius-otc most of those posts were deleted however.
mircea_popescu: so. there's no complete and definitive proof. thinking about it i can actually see the angle for incompetence possibly prevail over the actual malfeasance angle.
mircea_popescu: now specifically, as to the collusion discussion, quote defrauded investor teek : " I am pretty sure even Nefario gave him the nod a few times in posts."
mircea_popescu: if a good portion of the btc received would evaporate from my wallet
mircea_popescu: if you don't think so, that's fine, but you can't say "i never backed it up". i have.
mircea_popescu: Ignatius-otc that implication is sufficiently borne by the extraordinary concentration of scam assets there.
mircea_popescu: BTC-Mining yes. the etf had dibbs on the early distribution, which was auctioned in fixed blocks, if you recall ?
mircea_popescu: cause you were calling them claims "alusions" a few lines back.
mircea_popescu: that;'s pretty much the gist of it. everyoen thinks "they know better". it's a very easy thing to get.
mircea_popescu: in the immortal words of jwu, Aug 27 17:34:17 <JWU_42> mircea_popescu: as with so many things, niot just finance, ego becomes involved and bad decisions are made
mircea_popescu: other than that, i've backed up everyrthing i said with hard fact, which in general seems to be easily discounted for some sentiment of "i know better".
mircea_popescu: BTC-Mining it ipoed at 1 for a select few that had the money. and it did not ipo on glbse.
mircea_popescu: BTC-Mining dude. you don't like volume, you don't like price appreciation... is there something you can put your finger on rationally or are you just emotionally invested in this discussion ?
mircea_popescu: i regard it as disreputable. i might just be biased. some people regard it as reputable. course they don't tend to disclose their ownership interest in it.