615500+ entries in 0.382s
mircea_popescu: "Contrary
to popular belief, a rising bitcoin price ends up damaging liquidity instead of improving it. Miners are encouraged
to cashout
their huge gains by a rising price.
This leads
to volatility across
the board via crashes.
The volatility makes it
too difficult
to perform economic calculation in BTC."
mircea_popescu: "it's flawed because
the government should get it
to give it
to us why should some people get it
to do whatever
they feel like onoes"
mircea_popescu: "I want
to make
this clear.
This is not
the result of a conspiracy or collusion.
This is
the outcome of flawed economic incentives and
the reaction
to
them by participants. Hardware used
to mine is irrelevant.
The underlying rationale regarding distribution of newly created bitcoins is flawed."
mircea_popescu: Dimsler how could one catch your post
there, seeing how
there's no dimsler ?
gribble: You rated user punkman on Fri May 16 09:11:15 2014, with a rating of 1, and supplied
these additional notes:
Talent scout and secret agent..
assbot: The Bitcoin network costs nearly $1 billion a year
to run. : Bitcoin
Dimsler: i've already explained
that ages ago
Dimsler: the price is being plowed down by
the lack of fresh money
gribble: Bitstamp BTCUSD
ticker | Best bid: 336.0, Best ask: 336.17, Bid-ask spread: 0.17000, Last
trade: 336.17, 24 hour volume: 23602.59468842, 24 hour low: 335.23, 24 hour high: 368.74, 24 hour vwap: 0
Dimsler: mircea_popescu,
there is no situation, lets stick
to ambiguity and vaugness
Dimsler: in order
to keep
the price up
mircea_popescu: mkay so
the situation is
that you have a btc-e account and work as a broker, but when i asked you
the first
time you figured it's a good moment
to insert a pretense of significant holdings you don't actually hold, and in doing so inadvertently blew
to bits your earlier description of your actual activity, which was up
to
that point correct.
Dimsler: at
todays price
theres 400million worth of coin
that needs
to be bought up
Dimsler: as is it was an overall generalization of pumping bitcoins
to future buyers
Dimsler: yes because it was
taken a
tad bit out of context
mircea_popescu: well, you made
the correlation, i'm just
trying
to follow.
Dimsler: it has nothing
to do with my arbitraging
that i do as a side buisness
Dimsler: i
think you're being eluded by context here
gribble: Bitstamp BTCUSD
ticker | Best bid: 341.0, Best ask: 341.42, Bid-ask spread: 0.42000, Last
trade: 341.0, 24 hour volume: 22881.12349634, 24 hour low: 340.0, 24 hour high: 368.74, 24 hour vwap: 0
mircea_popescu: if you're looking
to "pump
to sell your own coins",
the moment you found a buyer you sell and
that';s it.
mircea_popescu: inasmuch as you have a stash, you already
took a form of exposure.
Dimsler: when
theres a service
that does it for me on a nominal fee
Dimsler: why should i
take on any form of exposure
mircea_popescu: so
then if you have a large stash of your own coin, why do you need
to hedge on any website ?!
mircea_popescu: "Any undertaking carried out with Bitcoin (BTC) will begin immediately,
though it may be up
to 24 hours before it is reflected in your BTC-e account. BTC-e executes all account withdrawals right away or in 1-2 days."
Dimsler: must pump
the value of coins
to swell my own
Dimsler: more of a hobby at
this point
Dimsler: waiting for btc-e
traffic
to change withdrawl address'
mircea_popescu: "Do you accept any alternate forms of payment such as Debit/Credit Cards?"
that part is pretty win.
Dimsler: they sit on
tor exit nodes
Dimsler: lol btc-e is hardcore
targeted
mircea_popescu: Dear participants of
the BTC-e.com
The cases of hacking accounts with
the use of viruses disguised as
trade bots,
trading platform, and also subscription for mailout, from which you may catch a virus if you follow a link in it, became more frequent.
Dimsler: the
time
to pickup mining contracts is when
the nerds are swinging from
the rafters in
there basements
mircea_popescu: imagine
this shit,
the first
time i actually buy a mining future contract, i actually get a great deal on it.
thickasthieves: so with diff going down, is it
time
to scoop up mining contracts?
mircea_popescu: that was scammy at
the
time but by now even
the usg is doing it, so it seems
to have been legalised ipso facto
Dimsler: yes
they were given premined shares
to list up
those junk coins
assbot: [HAVELOCK] [B.MINE] [PAID] 1.11972744 BTC
to 15`436 shares, 7254 satoshi per share
mircea_popescu: anyway, btc-e has indeed been around for a long
time, and no i don't know anything substantial against
them, so.
Dimsler: who else would allow you
to do
that
Dimsler: else
they would do it
themselves
mircea_popescu: so you deal btc in person in your geographical area and use btc-e
to float
the spot risk ?
Dimsler: mircea_popescu, if a client wants coins, before i deliver, i short on
there exchange with mt4
mircea_popescu: "<Dimsler> i hedge my clients on
there exchange" <<
this will need some clarification.
assbot: [HAVELOCK] [PETA] [PAID] 4.54245260 BTC
to 1`149`988 shares, 395 satoshi per share
Dimsler: mircea_popescu, i meant
to add,
that deal with usd exchange
Dimsler: try withdrawing 50k+ and see how bad
they own you
mircea_popescu: <Dimsler> its been
the most stable buisness in btc << nah, mpex is actually older.
Dimsler: no bitstamp is not
the best
Dimsler: best btc exchange are in non-oecd and non-us-extradition
treaty areas
Dimsler: they had
to move out
to bulgaria since
the russians are derp on bitcoin
Dimsler: my hope is
that btc-e doesn't get ruined,
the guy said he wants
to keep
the entire exchange out of
the btc nerd limelight
Dimsler: i hedge my clients on
there exchange
ben_vulpes: lol
this is a dark corner of
the internet i have no
truck with
Dimsler: bless
them for operating and existing
this long
Dimsler: btc-e uses a back bone of all
the scam russian e-currencies
to load in
Dimsler: using any of
the available wmz brokers etc.
ben_vulpes: costs 5%
to put cash or coins into it?
Dimsler: you have no idea wha
tyou're
talking about
Dimsler: costs about %5
to load into btc-e
Dimsler: is reflected in
the sale price
thickasthieves: so you kinda have
to pay admission
to
trade
ther eby selling your btc cheap
Dimsler: the btc-e crew is in it for
the long run
thickasthieves: at worst
they are printing btc
to keep
their price down
to do same
Dimsler: its been
the most stable buisness in btc
ben_vulpes: COIN is a
tool of
the USG,
the SEC will approve whatever it
takes
to get fake btc into american hands.
thickasthieves: it says in
the doc something like "btce is run by anonymous parties purported
to be in bulgaria"
mircea_popescu: recall, most of
the scams unwinding in
the scamspace, bfl, mtgox, etc all
tried
to use
the otc and got rejected.
ben_vulpes: what specifically are you
talking about,
their index or
their paper?
thickasthieves: i dont recall, but my point is
that wtf put btce in your plan
ben_vulpes: how are
they going
to feed
that
thing without driving
the price around like crazy on
the playchanges
mircea_popescu: ben_vulpes eh let
them have
their fun, if
they bought
tesla it'd be no different.
thickasthieves: i was reasding how
the application says
they plan
to use BTCE, bitfinex etc for it
ben_vulpes: all
the american
tards who "buy" "btc" via schwab
mircea_popescu: can't now be reproduced by
the usg, with
the help of a smaller bucnh of much more retarded "community" members.
mircea_popescu: what one sole idiot with
the help of a bunch of retarded community members accomplished in 2011