755300+ entries in 0.474s
mircea_popescu: or for
that matter, with fake cache hits for
the lulz.
mircea_popescu: it's not even fucking hard
to reimplement gpg without caching
ThickAsThieves: ah i somehow assumed
they were
talking about mining for some reason
Apocalyptic: and
that applies
to all
these
timing side channels attacks
bounce: skipped
the standard issue FUDwords artcle for
the abstract of
the paper. it reads like
the ecdsa equivalent of
the cache hit/miss sidechannel gpg key snatch. ie, don't run bitcoin
transactions on shared or even virtual anything boxes. no running wallets on ec2, say.
ThickAsThieves: and no economic shockwaves will happen due
to it or bitcoin's eventual shift from inflationary
to static supply
blackwhite: it doesn't really matter cause even if it has a point it's not really
the point.
blackwhite: well
that might be but
thats hardly an argument :)
TomServo: Shareholder David Witt, who has a stake valued at about $8,650 based on yesterday’s closing price, proposed
the measure, stating
that Berkshire has “more money
than it needs” and
that
the board should consider
the investors who aren’t billionaires.
mircea_popescu: proving something like x^2 > 2x is not sufficient, we
then have
to go individually and show
that 4^2 > 8, 5^2 > 10 etc etc
mircea_popescu: because for people
that were
too fucking lazy and high on
their own farts
to pay attention in school,
mircea_popescu: nubbins`
the mistaken notion
that while socialism (ie,
the salvation of
the members of
the group
through recourse
to
the group) doesn't work, subsets of
this (such as,
the salvation of women by recourse
to
the group) do somehow magically work.
nubbins`: i would like
to sit back and have a lel as you folks define feminism
Diablo-D3: I would like
to classify feminists as girls who are afraid
to grow up and become women
mircea_popescu: not any more
than google or facebook are incorporated in a proper sense, such as mpex is.
VanCleef: hehe ok so i guess its not incoporated ina
traditional sense,like google or facebook is
VanCleef: ohokey cool,like in
the country you live or is it offshored?
Diablo-D3: VanCleef: not in any nation
that metters
nubbins`: Diablo-D3:
they fail at html
too
mircea_popescu: pretty much all depends on whether
tomorrow is 1.x
trillion or not.
mircea_popescu: somewhere in
the middle. it's not what
they make it out
to be, but it is a blip
Diablo-D3: so zerohedge fails
to be relevant yet again
Diablo-D3: $100 billion is about 1% of
treasury bonds.
ozbot: Foreigners Sell A Record Amount, Over $100 Billion, Of
Treasurys Held By
The Fed In Past Week | Zero
nubbins`: so it's pretty easy
to swing prices
nubbins`: Neil: problem with most
things on mpex is low volume
Neil: But I'm not claiming it'd be easy; I'm quite sure it'd be very
tough
blackwhite: In other words
there is room for competition?
Neil: And he's clearly playing in an unclear
tax / regulatory state. (Not
that I blame him at all). But
take it into account.
Neil: And if he's run over by a bus
tomorrow, what are you left holding?
Neil: Sure. I
think some of MP's businesses are interesting. Just
they're
trading at an insane premium IMO, because of lack of credible alternatives. Make your own decision.
blackwhite: trying
to learn as much as possible about
this field
blackwhite: Neil not saying
there is just interested in some of
the models out
there
Neil: blackwhite:
There's nothing wrong with just sitting on your coins. Just make sure
they're safe.
blackwhite: so what are some of
the models people use
to make money with bit coins besides mining?
Neil: Yeah it'll
take
time, but it'll happen. I'm 100% sure.
blackwhite: FedGovt dollars are *debt instruments*. #Bitcoin is first chance for little investor
to say enough.
Tea Party & Occupy both see it's value.
Neil: blackwhite:
The world is your oyster. Whether your customer is an Iranian or a Korean. Who gives a fuck apart from
those who benefit by dividing us.
Neil: blackwhite: Good for you. Keep
true
to
that and you will succeed.
blackwhite: yeah
that is why I am also
trying
to get bit coins by doing what I do best. Interface design, product design, branding etc.
Neil: And boy do I look forward
to
the day I can
travel
the world and spend bitcoin. I
think it's only 2 years away.
Neil: My belief is
that bitcoin will succeed for one simple reason, whose power almost eveyrone underestimates (apart from Satoshi): people will come
to realise holding bitcoin is in
their own best interest. And everything else will follow, in
the future as it already has, from $0.01
to $500. Nothing has changed.
Neil: Of course, as a speculator I believe you'd benefit by holding, but I don't begrudge you deciding what
to do with your own money. Hopefully vice versa.
Neil: Good for you.
That's all we need - volountary interaction.
blackwhite: well
to be honest I am not so much interested in bitcoin as a currency but more as a
technology. I don't mine but purely
trade my services for bitcoin. So its all good
Neil: Just act in your own self interest and ignore
the noise
Neil: Arguments don't matter
though. Ownership
transfer does.
Neil: It's Keynesian claptrap and
the opposite of reality.
blackwhite: i am just saying
thats an argument being put out
there
Neil: blackwhite: I don't know where
to start. Maybe start
thinking for yourself and stop drinking
the logical fallacies?
blackwhite: Reputable exchanges with large institutional holdings could help stem such panics by advertising a willingness
to sell
their Bitcoins
to meet liquidity demand. Yet because Bitcoin reserves are finite, users may not find
the promise credible. By contrast, central banks with
the inexhaustible resources of
the printing press face no such inconvenient constraints."
blackwhite: hoarding could
threaten Bitcoin’s status as a medium of exchange, leading
to its complete demise as a currency.
blackwhite: yeah but consider
this argument for instance: "If Bitcoin matured into a complete currency, with large numbers of workers using it as
their medium of account,
then its inflexibility could bring economic havoc. Money-supply “shocks”, like
the disappearance of Mt Gox, could set off a systemic collapse. Given a loss of faith in exchanges, users might withdraw
their coins in a panic, leading
to a dangerous decline in
transaction volume. Such
Neil: Nothing, just it's cool if you own some of
that 20kg
that is left.
That is all.
Neil: blackwhite: If
there are 100kg of gold in
the world, and
then 20kg disappear,
then what?
Neil: blackwhite: First
thing
to understand is most
the shit you read in
the media isn't a "problem", it's just
the guy writing
the article's "problem"
Neil: It *would* mean everyone else's suddenly got worth a lot more, but
the end? You don't understand.
Neil: "Yeah
the reason why I ask is. If for some reason suddenly 10million bit coins go lost
that basically would mean
the end of
the currency" uhh please explain
that big underspecified jump in logic.
blackwhite: i.e. it's not impossible
to imagine large sums of bitcoin dissapear
blackwhite: Yeah
the reason why I ask is. If for some reason suddenly 10million bit coins go lost
that basically would mean
the end of
the currency, but couldn't
that somehow be countered by splitting each bitcoin so we deal in satoshis instead? Asking because I can't wrap my head around
that problem
Neil: Which probably
to Mr Satoshi 5 years ago seemed like a pipe-dream, but now is starting
to feel like a low-ball
Neil: blackwhite: One bitcoin is one bitcoin.
To what extent one agrees
to subdivide it is but a mere footnote.
The default assumption amongst market participants, owing
to history, is 100m "satoshis" are a bitcoin.
Neil: "Singing psychedelic praises
to
the depths of a China bowl"
Neil: Nov 12 led
to a 100x price in 1yr
Neil: It's like a mini-inflation shock. History shows
they
take about 2 months
to feed into
the price. June 2016 with
the halving is gonna be epic.
Neil: The last 2 weeks are
the first
time in a long
time at least 50% of
the
time I open blockchain.info it shows a block over 1hr old.
ozbot: BitBet - BTC difficulty
to increase by less
than 10%