6300+ entries in 0.113s
mjr_: thats what makes it fun bgupta
mjr_: yeah, crazy this morning, you would see prints on both sides
mjr_: could have sent the order to mars lol
mjr_: FFS, why don't we just mail them letters with orders
mjr_: ;;calc 1777.64s / 60
mjr_: it's socket science actually
mjr_: greed, for lack of a better word, is good...
mjr_: i don't think most of the money showed up to the party yet
mjr_: should be interesting
mjr_: vires in numeris :)
mjr_: (more accurately in the series a song of ice and fire)
mjr_: could they make the bots sound like the unsullied in game of thrones?
mjr_: one does not simply naked short bitcoin
mjr_: shorting at 34 :( poor guy
mjr_: financial darwinism
mjr_: anyway, i have to do some work, but i like the anarchy of a free market, whatever happens is supposed to happen, how well you do depends on your skill and risk profile
mjr_: and eventually we will see layers 5-7
mjr_: gox would be like a layer 4
mjr_: this is what i was saying about "bitcoin is layer 1 or 2 maybe 3 of the financial OSI model"
mjr_: for example, if i have a gox account, and everyone trusts gox, they can take my transaction without even hitting the blockchain
mjr_: i'm talking about you having one account
mjr_: and yet it does, right now
mjr_: the same way that mt gox does not publish to the block chain for EVERY trade
mjr_: and most businesses will have to do that too
mjr_: banks use fedwire to move around the DELTA from their days transactions, they aggregate and net the transactions first
mjr_: KRS1337 that is the point...the network doesn't have to
mjr_: as in, pulling off a successful double spend in real life after a face to face transaction is probably very difficult, AND not worht it
mjr_: i just trust that you don't have the ability to double spend (not trivial)
mjr_: its not even that i trust you as a person
mjr_: i don't need to wait
mjr_: for example, i have done business with you every day
mjr_: you will have services that will have enough trust or deposit to be able to do 0 conf
mjr_: do people use fedwire for everytransaction?
mjr_: less time than mailing an envelope of cash
mjr_: currency is the medium of exchange
mjr_: we need layer 7 to emerge
mjr_: bitcoin is layer 2, maybe 3 in a financial OSI model
mjr_: not sure about their implementation, but the idea is sound...same as trading "demand deposits" for cash
mjr_: hold money in bitcoin, transfer money with bitcoin, withdraw in local currency
mjr_: that is why the ATM is so important
mjr_: fiat is making change
mjr_: what difference does it make if i hold 4 5's or one twenty
mjr_: and as far as this distinction between fiat and bitcoin
mjr_: most people would say sure why not
mjr_: and see what happens with some skin in the game
mjr_: my point is this, it is too early and most are too stupid to understand
mjr_: so i don't think that is an apt analogy
mjr_: these bitcoins exist
mjr_: they were trading tulip futures and options on tulips that had never been created and never would
mjr_: yes...but tulips didn't actually exist
mjr_: but this is bootstrapping 101
mjr_: signifigant, though each person did something minor
mjr_: that is a hundred million dollars more in the bitcoin economy
mjr_: but this is what i was saying...if everyone tomorrow says "i heard of this thing called bitcoin, i will get 1 bitcoin" and there are a million of them
mjr_: they are not a large part, but as a group they make up a large portion
mjr_: like saying every person who works a minimum wage job is not part of US economy
mjr_: every person buying one bitcoin not only gets one bitcoin they also create a positive externality
mjr_: and i agree...i'm just saying that this is the network effect in action
mjr_: well...we have seen bitpay process 5 million dollars in one month
mjr_: and creating a platform for the next person to see that it now makes sense for them
mjr_: furthering the rise
mjr_: oh wait, now i can...adopt
mjr_: for exapmle, i'm western union...i can't move any signifigant amount of money over btc network
mjr_: phenomena where things that weren't possible become possible
mjr_: ecnomies of scale form and emerge
mjr_: from this low level base speculation
mjr_: its like ants and brains
mjr_: i may not be a long term believer
mjr_: i can sell immediately
mjr_: i now own a bitcoin...i am a part of the bitcoin economy
mjr_: huh? that doesn't follow
mjr_: but the point is this...critical mass
mjr_: IMO whoever buys one has "adopted" it
mjr_: and as it looks like a "sure thing" that number will increase
mjr_: so the possible new speculators is huge
mjr_: point being, the number of possible adopters is orders of magnitudes higher than current adopters
mjr_: within the hour...usually
mjr_: no probably bitfloor or bitinstant
mjr_: how can i not buy a bitcoin? i guaranttee i can buy one right now