706800+ entries in 0.332s
decimation: so, basically banks and investment brokers end up excercising
the ownership rights of idiots
mircea_popescu: these are very insulted by a flat refusal
to allow chumps at
table.
mircea_popescu: asciilifeform
this
takes us
to
the deep reason mpex is oft maligned on
the sm : reddit,
tardstalk et all are mostly made up of would-be daytraders, in
their own head.
mircea_popescu: asciilifeform sure,
the other market participants do want it.
the corp
tho doesn;t.
decimation: and
the shares
they own in
these "funds" convey no rights
decimation: most USian's don't have any choice on what
to buy
decimation: because
the votes of his 401k shares are excercised on his behalf
mircea_popescu: well, he has
the say of his buy or sell, whatever it is.
that's a say
decimation: also,
the small investor has no say, even if he's not stupid
mircea_popescu: decimation for instance, buffett refused small investors precisely for
this reason. fuck you, we don't want your stupid.
mircea_popescu: what exact value would one expect from joe
the plumber's knowledge of stocks and
the world around him
to be passed
through his 3k into apple's market
decimation: imagine you are
the CEO of IBM: you know whether you hold a clown circus for your next board meeting or not, all
the chumps are going
to auto-buy your stock next
Thursday
mircea_popescu: decimation i'd say it exists because a wide nonoligarchy somehow got
the mistaken impression it should have access
to
the market.
decimation: I guess
the only reason
there is a front running "problem" is because only a small oligarchy has access
to
the market
dub: there used
to be serious competition
to be in closer racks
BingoBoingo: That
trilema article was one of
the most revealing
to me
mircea_popescu: the funny part being
that
this hft
thing is a solved problem, mpex doesn't have it.
dub: which is why
the house enforces it
decimation: yeah but
there are clear incentives
to "cheat"
dub: dc's in and near exchanges all have minimum cable distance
to make it 'fair' from what Ive heard
moiety: kakobrekla: why does my
title have - and not spaces -_- sorry will delete
decimation: you know your "market" has entered LOListan when exchanges compete, promising
to screw
the customer slightly less
mircea_popescu: so
there's been a sexchange of bitcoin, experts and investors so far. who's next ?
decimation: the greater chumpatron sucks chumps attempting
to evade lesser chumpatrons
mircea_popescu: Sep 19 23:03:52 <deizel>bitcoinsexchange.com (later a hyphen is added
to clear
things up, bitcoins-exchange.com)
decimation: the question is: do you
trust
the fiat brigade
to maintain
the "integrity" of
their 38 miles? Who audits
the delay
time?
decimation: rendered
the strategies of
the HFTs impotent and obsolete. "
decimation: "This exchange, IEX, (it was originally
to be called ?Investors Exchange?, but
the founders realised
that
the obvious Internet domain name, investorsexchange.com, could be infelicitously parsed into
three words as well as
two), would include
technological constraints (including 38 miles of fibre optic cable in a box
to create latency between
the point of presence where
traders could attach and
the servers which matched bids and asks) which
mircea_popescu: we are discussing quite different
things. i said jitney, you proposed
to replace it with painting
the
tape, i pointed out
that
that's different.
mircea_popescu: they have just pushed
the stock price up fraudulently, and don't want
to be raped for it.
mircea_popescu: asciilifeform someone could sell (even short) your stock,
taking "your" profits you paid
to generate.
artifexd: mircea_popescu:taub you need
to get rated by someone in assbot's l2,
then id with gribble and pm assbot !up <- you need
to be rated by someone in assbot's l1
artifexd: Ok. I'll chalk it up
to you making a
typo and
that
the rules didn't change.
mircea_popescu: also a little more risky, in
the sense you may end up beaten
to shit by
the market.
artifexd: Being rated by someone in assbots l2 doesn't do anything useful for self voicing
though, right?
artifexd: In
that example, Bob and George could self up, but Nancy could not. Right?
mircea_popescu: asciilifeform common penny stock fraud.
two brokers pass
the stock back and forth
to create
the semblance of volume.
artifexd: As I understand it,
to self up one must be in assbot's l2 (or higher).
mircea_popescu: asciilifeform nah. jitney is an unsolved problem in
the fiat markets either.
artifexd: Did
the self voicing rules change?
mircea_popescu: <asciilifeform> (one could, in principle,
take its real-time published
trades and attempt buy/sell, see if it is matched at a particular offer, etc) << fake book != fake history.
kakobrekla: moiety if you were
talking about ba wiki , go ahead and plod,
thats why its
there.
moiety: would you rather see a paste first before i plod around
the wiki
moiety: ended up having visitors ive not seen for a long
time hence absence and no guide
moiety: i'm roaming around
the wiki
moiety: theres a rogue dot in
there isn't
there
kakobrekla: the difference is
that hitbtc is not china afaik,
taub .
taub: yet bitcoincharts wont rank houbi, but
they'll rank
this ;D
mircea_popescu: the internet is, practically speaking, a collection of frogs and cicadas arguing as
to which one set is
the
true operatic singer.
taub: what a joke, constant
trades average size of 0.5
that happen between
the spread outta nowhere
mircea_popescu: so
today i learned
that mra is a
thing. and in
the process :
mircea_popescu: i imagine on
the mid
term nyc will be more like paris huh
mircea_popescu: "CNBC Correspondent, alum @NYUStern (MBA) and @MiamiUniversity, country music & college football enthusiast --- livin'
the NYC dream but forever a proud Ohioan"
BingoBoingo: When
that happens,
then bitcoin may once again proceed
towards moon.
BingoBoingo: Some
time in
the next week someone's going
to be sending me PPUSD, prolly need
to start scouting people I can unload
them on.
assbot: Voicing
toastee for 30 minutes.