639400+ entries in 0.399s
BlueMeanie4: if you have enough gold.
these people didnt each have enough gold
to buy a house, but collectively
they had
the skills
to make houses
BingoBoingo: <BlueMeanie4> but
the money and debt allowed
them
to be specialists << Fraternities at universities do
this without
the debt. With beer, a good,
they manage
to
trade
the good for pledge's dignity.
decimation: you
think I could buy a house for some gold?
BlueMeanie4: decimation-
try building your own house
then
mircea_popescu: BlueMeanie4 okay, how would
the proof
that what i say is actually correct and your view mistaken look
to you ?
BlueMeanie4: its similar with mortgages, requires capital
to get all
the specialists
together
to make a house
BlueMeanie4: where
there was once no houses, or even individual ability
to create houses,
there was not a usable house
BlueMeanie4: but
the money and debt allowed
them
to be specialists
bats_cd03: lol not an expert. anyway, i speculate: it could be a combination of due diligence combined with
the USG
trying
to acquire as much btc as possible,
theretofore held by citizens not entirely faithful
to
the fiat gods (e.g.
tax evasion, other 'illegal' activities)
mircea_popescu: this notion
that everyone's entitled
to sexual release gotta go.
mircea_popescu: decimation no,
they're saying
that
the betas should be better betas already. i agree with
the sentiment.
BingoBoingo: asciilifeform suspects we're being
trolled << It seems many of
the danielpbarron invites elicit
this reaction
mircea_popescu: hey. it seems it'll
take a while until
this problem will be operationalized enough
to be acceptable.
decimation: asciilifeform: I don't get
the liber-tards argument, are
they saying
that women ought
to be able
to slut at
the sluttiest parties without attracting unwanted male attention?
mircea_popescu: now, a little empoverishing itself for
the sake of stroking its impatience may be okay
mircea_popescu: looky :
the mortgages make society poorer not wealthier.
BlueMeanie4: this money system allowed
them all
to have nice houses in belgium
BlueMeanie4: and
they loaned it
to each other
to do jobs on eachothers houses
BlueMeanie4: and
they made
their own money system, a local currency
BlueMeanie4: i was in Belgium for a while and
there was a group of people out in
the country side
BingoBoingo: bats_cd03: Any
thoughts on how
the USG encounter I had, you're closest we have
to an expert
that I know of
decimation: BlueMeanie4: do you
think a finite supply of money is sufficient?
bats_cd03: when asked about 'creating wealth', i usually
think 'creating energy'. can it be done?
mircea_popescu: you don't create new wealth by creating new obligations or else a law
that'd enact
the obligation of pigs
to fly would make us all rich.
decimation: “But I
think we need
to
think critically about why we keep placing
the responsibility for preventing sexual assault on young women.”
mircea_popescu: BlueMeanie4 he's inquiring if you're
trying
to create or redistribute value.
bats_cd03: work on generating 100 btc in wealth first, mate.
then go for 10.000.
mircea_popescu: since
then,
the marketshare of all exchanges
together dropped monotonously.
mircea_popescu: BlueMeanie4 you know,
three years ago half of all btc
trade happened on otc. 90% ish of
the rest was on mtgox.
mircea_popescu: i am blazing new ground here with
the very public display of contracts, as for instance seen earlier
mircea_popescu: BlueMeanie4 it's an otc market. you don't get
to know anything
the participants don't choose
to share.
BlueMeanie4: youre loling and were
there any contracts written
today?
BlueMeanie4: what is needed is a way
to quickly INTERROGATE
the contracts
BlueMeanie4: you cant have highly liquid markets
this way
mircea_popescu: it's so fuckng biased we have a wot
to deal with
the bias hierarchy
BlueMeanie4: so
there is ZERO sense of non-bias in your system
mircea_popescu: what's
the five miliseconds earliness bought
the early bird ?
mircea_popescu: so fifty people want
to accept
the same contract, and mp says yes and
the cp picks mp because hey, he'd rather have mp's cp risk.
mircea_popescu: well yes great but
this effect dwarves your problem by degrees of magnitude.
BingoBoingo: BlueMeanie4: Don't worry
too much about
this distinct IRC phenomenon where
the channel carries on as many simultaneous conversations as
the participants allow.
mircea_popescu: and rightfully so. because
to
the
trustworthy goes
the business.
mircea_popescu: looky here : because wot users are identified, and
their reputation forms a market hierarchy
BlueMeanie4: this is a big problem.
this leads
to market bias.
mircea_popescu: BlueMeanie4 no, and what's worse i don't see a way
to
translate your formulation of what's a problem in fiat marketplaces into ap roblem here.
BlueMeanie4: and
the other actors
then got 'sloppy seconds'
BlueMeanie4: what would happen if one party had
the unique ability
to either
take or leave EVERY contract
that was submitted globally?
mircea_popescu: BlueMeanie4 you'll have
to at least build a
theoretical model showing how
this attack'd work. kinda how it's done.
BingoBoingo: BlueMeanie4> i dont know << When's
the last
time you used your Apple II for a modern
task?
BlueMeanie4: because no where do you even indicate
that
this is a problem
BlueMeanie4: your system seems pretty naive in
this regard
BlueMeanie4: i already mentioned it, you can bias
the markets by exploiting
time responses
BingoBoingo: Ah, Imma Mac SE/30 kind of person.
There are "now" slow machines, yes
nubbins`: what's
the
trilema article about how irc works
BlueMeanie4: you better believe if any serious
traffic were
to happen on
this system
they would exploit
the peculiarities of IRC
BlueMeanie4: if i can exploit, and it makes me a dollar or
two, i will
BingoBoingo: I know what
the good is worth and I bid up
to what I am willing
to pay.
BlueMeanie4: so
the problem is in
these sorts of systems is people will push
the
time limits as far as
they will go every
time
BingoBoingo: Depends on
the good. When I'm buying generally
the one
that wins comes early.
BlueMeanie4: and when do 95% of
the bids come in on an auction?
mircea_popescu: you'll have
to sit down and confront
the
twinheaded fact
that a) before you can improve on something you have
to gain good familiariy with it and b)
that
the
temptation
to just make as a cheap substitute for understanding is sinful.
mircea_popescu: <BlueMeanie4>
this is also a problem with Bitcoin, and
thats why Counterparty cant be used for anything serious <<
this high speed
thing is an unresolved problem in many ways.
BingoBoingo: A private assignment of anything should never have
the wires be
the limiting factor in its speed of execution, other
things will slow it first.
BingoBoingo: Contracts available for
trading publicly need a centralized exchange. Private contracts need negotiation et al.
nubbins`: there's a dick surgery song about
this very
thing
nubbins`: the details are in
the pudding
BingoBoingo: BlueMeanie4: I
think a problem is you are confusing particular contracts and contracts in general