726200+ entries in 0.352s
benkay: let
the rating dilutions begin.
gribble: Rating entry successful. Your rating of 1 for user
TestingUnoDosTre has been recorded.
benkay: ;;rate
TestingUnoDosTre 1 an entity.
benkay: ;;gettrust
TestingUnoDosTre assbot
benkay: ;;gettrust
TestingUnoDosTre
cgcardona_: TestingUnoDosTre: so does
that mean you don't have
to reauth everytime you come into
the room?
fluffypony: specifically you need
to be in assbot's primary
trust
gribble: Registration successful. You are now authenticated for user
TestingUnoDosTre with key DFBEC17DF96DFB77
benkay: if it
throws away big important parts of bitcoin (like say distributing supply semi-randomly according
to capital power,
the
txn processing network), it's probably fucking stupid.
cgcardona_: "they will jump
through all sorts of rationalizations as
to why
their burn was a good idea." - couldn't you say
the same
thing about most people who have a vested interest in something succeeding?
benkay: consider a bitcoin
thing; an alt chain, a piggyback
thing, whatever it is.
benkay: do it, now you have
this
tiny network of people who need
to see
the value of
their coins increase.
they will jump
through all sorts of rationalizations as
to why
their burn was a good idea.
benkay: proof of burn is a great way
to get people
to buy into your
thing
cgcardona_: i
thought
that was just
the greatest stoner joke ever
cgcardona_: omg 'proof-of-burn' is actually a
thing
assbot: Voicing
TestingUnoDosTre for 30 minutes.
fluffypony: ThickAsThieves: yeah but none of
them have been available in South Africa
till Rdio came along
cgcardona_: except
they can
take it whenever
they want!
benkay: kinda almost like copying
the file and putting it on a device
fluffypony: Rdio is actually really awesome - you can "sync" stuff
to mobile, which basically just downloads
the songs and stores
them in
the app
cgcardona_: I pay for music at live shows quite often.
That's where
the real hustle is
benkay: impossible
to find anything on
those damn services
benkay: code
tutorials with product placement
benkay: wow hey i just realized a
thing
benkay: or 500B, live off
the deflationary behavior
fluffypony: passive income is not a
thing unless you happen
to write a massive single
that will be played for
the next 100 years, or write a
timeless book
that will be sold for
the next 100 years
benkay: "you don't even need
to know anything!"
fluffypony: like you're just going
to start
this auto-blogging
thing and it'll go and you won't need
to
touch it and
the funds will just flow in
ThickAsThieves: one day i want
to grow up and be a DAC cab company owner
fluffypony: because
they keep advertising
things as "hands off"
fluffypony: that's why
the whole Internet marketing / Warrior Forum
thing is such a clever scam
benkay: unless you hook
the cold wallet up
to
the robot
too, which, anathema.
benkay: even your gambling operation will need human intervention from
time
to
time.
benkay: an individual suggesting a business could be run on algorithms is demonstrating why
that person is unsuited
to make claims about businesses.
cgcardona_: i had been buying into
the mastercoin and colored coins hype
fluffypony: stumbling across a randomly generated BTC privkey
that is for an address with funds is equally possible and probably more likely
benkay: i've heard of mixed metaphors, but you blended
that one
fluffypony: to generate
that with vanitygen or oclvanitygen would
take more
time
than
there is on
the sun
fluffypony: cgcardona_: yes,
that burner address was 1CounterpartyXXXXXXXXXXXXXXXUWLpVr
benkay: btw
TestingUnoDosTre
that OTP url is unique for
the duration of your use of
that key. so feel free
to hard code it into any scripts you write.
cgcardona_: so let me see if I understand. I
tell people I'm creating cgcardona_coin and
that
they need
to burn coins into 1cgcardonafuckingrulesAdfusd address which is actually my personal address?
benkay: and
the earth may orbit backwards
tomorrow.
cgcardona_: but actually I agree w/ you overall. just arguing
the point for
the sake of clarity
cgcardona_: and we dont know what jesus coins may arrive in
the future. people may be incentivized
to burn coins en mass
cgcardona_: i personally agree with you. but I don't
think I can speak for "anyone controlling significant numbers of btc"
benkay: besides, it's a garbage example. anyone controlling significant numbers of btc won't be burning significant numbers of
them. maybe
the odd equivalent of a buttcoin
to see some derps flail with
their piggyback chains, but not a significant number.
cgcardona_: but who is
to say it will only be pennies? What if someone were
to burn 75% of all btc into other coins.
that would surely affect
the price of
the remaining btc by more
than pennies.
benkay: economy size being fixed, and my share of
the pool being fixed (income aside)
benkay: when
the world economy is denominated in btc,
these pennies will not materially affect how much or less i can buy with my btc.
benkay: donations
to everyone are not needed.
cgcardona_: right - and satoshi's quote says "Lost coins only make everyone else's coins worth slightly more.
Think of it as a donation
to everyone."
cgcardona_: ok
then can I spin it as all of
the burn in coins will just remove btc from
the blockchain
thus driving value
to
the blockchain a la' "Lost coins only make everyone else's coins worth slightly more.
Think of it as a donation
to everyone."
benkay: it is a
time honored practice,
this centralizing of important
things.
benkay: if i have
to go
to bitcointalk.org
to read about your 'asset', you've failed.
benkay: look, an exchange is by definition a place people gather
to exchange a
thing
benkay: the whole
thing is a punt
fluffypony: benkay: presumably
the active ones will punt
their asset?
cgcardona_: so you're saying it's like premining in
the sense
that
the people creating
the coins which need
to be burned in
to are starting
the game with a bunch of
the new coins for
themselves?
benkay: (^^ wtf am i supposed
to do? examine every
thing individually??)
cgcardona_: very interesting. I'd not heard
that argument before.
fluffypony: benkay: I actually don't understand
the point of
this at all
benkay: fluffypony:
these initial burns are just as much a crime as premining.
fluffypony: benkay: "The protocol was coded
to create XCP on any address
that sent less
than or equal
to 1 BTC
to 1CounterpartyXXXXXXXXXXXXXXXUWLpVr between blocks 278310 and 283810
This was written right into
the open-source code. So no individual had
to be
trusted
to accept money
then distribute a genesis block like with Next, Mastercoin, Emunie, Ethereum, Levelcoin (ipo scam), Visacoin (ipo scam)"
benkay: so
that i can just ;;everify (cmd p)
benkay: a little script
that curl otp-url.php | gpg -d | pbcopy on os x is how i do
things
benkay: if you do ;;eauth cgcardona_ , you can decrypt
the otp you get in return and
then ;;everify
that string
cgcardona_: not sure if
that helps of if
that's all extremely obvious for everyone in here.
cgcardona_: challenge string
that I again sign and put on pastebin.