737200+ entries in 0.412s
benkay: refrain of everyone who's looked into mpex more
thoroughly,
tg2
kakobrekla: turbo_ac100 i managed
to come
to
that page but i still dot get it, what is
the url
that needs
to be provided for
the plugin
tg2: so
that is good
to see, not sure why
that isn't advertised more prominently
tg2: I'm just surprised
that noone has pursued it, it seems
that mpex is doing just
that however by covering
their delinquent listers
turbo_ac100: kakobrekla: second hit when searching on mycroft.
There are
two versions since
they (he?) do versioning by hand. Since 1998 I guess...
benkay: so anyways if you come up with anyone
to whom you'd sell
this bond/insurance/rating
thinger let us know
benkay: tg2: you should read
the listing contracts.
tg2: I honestly wasn't aware
that mpex paid out for delinquent listings
tg2: but
this company operates in
the meatspace
benkay: ;;google
trilema gpg contracts
benkay: well if it didn't happen you have quite
the scoop
there
tg2: ok, I didn't read
that in
the delisting doc
benkay: this
trust
thing, you see.
benkay: not really. everyone got paid out at par per
the contract.
benkay: har
the value of S.MPOE is probably in
that mircea_popescu delisted bitvps 'aggressively', whereas everyone else lists outright scams.
tg2: you're asking how a situation like
that could have been mitigated by sucha
trust organization?
tg2: from
the link posted by mircea_popescu before
benkay: are you familiar with bitvps,
tg2 ?
tg2: that is no security against
the companies it lists running away and
taking everyones $
benkay: like i'm
twelve, please.
benkay: "holds no liability
to
the companies it lists"
tg2: *invest in
those companies
tg2: yet it holds no liability
to
the companies it lists OR
the individuals
that invest in it
tg2: who's best interest is in securing
these businseses
tg2: sort of like a whoisguard but
that holds
the parties behind it responsible and sets up audit procedures and processes
they have
to follow
benkay: who's got
the biggest mktcap in btc-denominated securities?
benkay: but let's go down
the list by market cap, shall we?
tg2: I
think
there is a need for
this kind of liability secured "trust"
tg2: <benkay> well given
that 99% of 'bitcoin companies' are barely concealed scams
mike_c: is enron before your
time?
tg2: <benkay> we need companies
that need auditing first, mike_c .
benkay: we need companies
that need auditing first, mike_c .
mike_c: then
this shit won't happen anymore
mike_c: we need a
trusted auditing company like Arthur Anderson
tg2: well
that is different,
those people had direct interests with
the company
they were representing
benkay: tg2: why did
they
trust pirate?
benkay: tg2: why do
they
trust neobee?
tg2: not
that it isn't misplaced
tg2: why do
they
trust fannie/freddy
HeySteve: working on a Proof of
Trust coin.
the Web of
Trust has been an inspiration
tg2: why do people
trust bonds
benkay: "trust but verify" requires
trusting first.
benkay: no
trust, no business.
benkay: trust is
that which all business runs on.
benkay: no
that is actually
the question
neilol: begs
the question: how could you do an audit without counter party
trust
benkay: tg2: you'll have
to overcome
the stigma ratings agencies in btc face post-pirate.
tg2: it allows exchanges
to prove
to a certain degree of
trust
that
that
they are solvent without having
to show
their cold wallets
to everybody
benkay: tg2: so start building some
trust. run
that operation.
benkay: neilol: let's just get someone who's not an MPEx scam
to issue financials first before we worry about auditing
those financials, eh?
tg2: no but I
think
that now would be
time for
that
neilol: full rip
through of financials, accounts, investory etc and certify books match real life
benkay: seems a bit premature.
there's barely anyone
to
trust in
the first place, much less people in whom one can
trust instead of actually
trusting your counterparty.
neilol: yeah dignork you're right. I'm
thinking something like a KPMG or Deloitte would do
tg2: but if
they break
their certification
tg2: without having
them divulge
that
tg2: proving
that certain key individuals are known identities
dignork: neilol, but audit was strictly
technical, keys safety etc.
tg2: proving
that you follow certain guidelines
tg2: like proving
that you are solvent every so often
dexX7: ah, i
think
that was what i meant, neilol
neilol: well SecondMarket CEO said
that some large insurance companies were approaching him looking
to create products around btc
benkay: well given
that 99% of 'bitcoin companies' are barely concealed scams,
the
thing doesn't fly unless you can point at a potential customer
that's not a scam.
tg2: any companies,
they companies would pay
the insurance as a sign of faith against insolvency
dexX7: well,
there are afaik a few who want
to open an insurance serivce.. even
this
twobitsidiot
benkay: which companies would you insure,
tg2 ?
tg2: figure out a premium
that makes sense
neilol: might be
tough
to get someone
to
take
the other side
tg2: you'd have
to evaluate
the business being insured
tg2: but for insuring companies
that are
traded
tg2: not in
the sense
that "oh we'll replace your bitcoins if
they get stolen or lost"
type of stuff
tg2: has anybody put any
thought into a bitcoin insurance company?
ozbot: Interacting with fiat institutions [such as
the SEC], a guide
benkay: o
there's a new photo of mircea_popescu
dexX7: there is another
thread opened by mpoe-pr
zacm: benkay, or whatever
the federally approved crypto ends up being...
benkay: not
three years of 'forum sucks, mpex at least isn't a scam' getting under everyone's skin?
zacm: so
this is disconcerting
to see
the lemmings on bitcointalk cheer on us gov action against mpex people. bitcoin community must be eagerly anticipating govcoin i guess
benkay: hard
to
tell on
the internet.
gribble: You are now authenticated for user
tg2 with key 31FAA963C3333333
benkay: ah well bitfunder == legit
then nooz
to me
dexX7: i
think zacm is legit, have seen him in #bitfunder for a long
time
benkay: no subtlety,
these guys.
benkay: silly socks are silly,
trolling with old news
benkay: or very much
the old news.
benkay: truffles is back, all
these new faces
benkay: did i hear
truffles is back?