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mircea_popescu: you could lose potentially a lot of btc, how do you cover ?
mircea_popescu: so if tghe last price is 100 usd i can redeem a bond for 10 btc ?
mircea_popescu: btc is the fiat killer. it is good for EVERYTHING and will do everything.
mircea_popescu: EskimoBob btc is not a companion for the bigger and better fiat.
mircea_popescu: if the government of X decides to close their bank accounts, they are fucked.
mircea_popescu: the main difference here is this : mtgox and the pprocessors are all stuck with one foot in fiat.
mircea_popescu: EmanuelDeOrtego bitcoin is indubitably undervalued, even at 15.
mircea_popescu: companies worth millions, like the couple on mpex, they have a very vested interest to fight it out.
mircea_popescu: there's slowly growing interest FOR a surviving bitcoin network.
mircea_popescu: there's never not going to be mining. that's done. moving on.
mircea_popescu: by now it's established. mining is no longer a point of interest.
mircea_popescu: mining had value up until last year, when this point was still being established.
mircea_popescu: wherther the network exists or not, that's no longer dubious. you understand this ?
mircea_popescu: the companies that make money no matter what are infrastructure.
mircea_popescu: you think miners are infrastructure ? bs. miners are dust. anyone can mine. mpex is infrastructure. satoshi dice is infrastructure.
mircea_popescu: maybe a new wife, if she's either well used up or else 2nd tier.
mircea_popescu: but at any rate, tech early stage investment is reserved for people with millions.
mircea_popescu: money. talks. internet personalities like the ex stock broker raising 12k nut here... they don't get a voice.
mircea_popescu: numbers are 15 to 20x forward PE for a successfull tech company that dominates its new niche
mircea_popescu: if people hurt when they were being ridiculous we'd run out of drugs
mircea_popescu: wah wah i can't do math, wah wah i have no money, wah wah take me into account wah wah
mircea_popescu: maybe we'll just sit right under it for the rest of the month.
mircea_popescu: but anyway, i have a couple meetings to attend, catch you all in a little bit.
mircea_popescu: blue chip are these elite companies that make up the nyse stock index.
mircea_popescu: yeah, it's a little more of a blue chip deal as it were.
mircea_popescu: brendio used to do that i think, possibly smickles too.
mircea_popescu: or else find someone who is willing to broker for you.
mircea_popescu: a ok. well in that case you'll eiher have to read the faq/make an account
mircea_popescu: BTCHero well soon there will be the ability to bid w/o reserve i understand.
mircea_popescu: i got an acct maybe a week ago, so i dunno. maybe it's new this closure.
mircea_popescu: the price is 8.87 . if the price moves up (to 8.91 in your example) puts lose money.
mircea_popescu: MadSweeney that'd work yea. ideally options are used to hegde, not to try and shoot the 80% return.
mircea_popescu: myea. of course this means things can also go badly fast, so it's a mixed blessing.
mircea_popescu: sure, you can futz around make 10% over 10 btc or whatever.
mircea_popescu: and for all the hee-hawing there's absolutely no other place to make 50 bitcoin.
mircea_popescu: C went to shit cause price went down. when price goes up C is good P is bad. when price goes down the reverse.