776800+ entries in 0.487s
mircea_popescu: benkay no, it's just self-defeating.
the previous fixage becomes
the baseline for
the new brokedness
benkay: you and i are both using "impossible" in
the sense of "impossible for you or most other people"
mircea_popescu: asciilifeform because if you really really will something,
that'll matter. in
that your imagination has some bearing on reality.
cads: The Freicoin website says, "Freicoin's parameters are carefully chosen
to eliminate
the basic interest component of investments, called
the liquidity premium by economists. Usurious non-zero basic interest distorts
the free market, incentivises poisonous greed, excess, and short-term
thinking, and perpetuates a vicious cycle of boom/bust recessions."
mircea_popescu: benkay "being rich" is also impossible, how about
that.
mircea_popescu: and yes, i
thought it's a good match, it's about as misguided as
the people
that came up with it.
benkay: except
that fixing
the world is impossible except randomly from
time
to
time as in
the satoshi case.
cads: mircea_popescu: did you ever hear of
the 'Freicoin' demurage currency formulated by some of
the occupy wallstreet people?
benkay: in
that
the former chase profit and
the later abhor it.
benkay: people who can build web applications while derpy as fuck are significantly less derpy
than people who burn
their hours
trying
to fix
the world.
mircea_popescu: a central exchange where people can
trade
their deeds.
mircea_popescu: i'm kind-of surprised
there isn't a localbitcoins but for activists.
cads: I was wondering about Bugpowder's earlier statement. Is
this writer an idiot or a smooth PR savage?
benkay: i'm pleased
that 'fractional reserve' is now an insult.
mircea_popescu: cads why does some clueless piece in an irrelevant venue merit
this much of your
time ?
cads: first of all I just have
to ask, 'wtf'?
cads: It reduces
the (essentially context free) summary
to
that single rhetorically charged statement.
mircea_popescu: asciilifeform roughly for
the same reason you don't come
to
the global warming protest in your car.
cads: The it does
this: "In effect, Mt Gox had left
themselves wide open
to any accusation
that
they were no different
to any other system operating on a fractional reserve basis."
BingoBoingo: asciilifeform: In
the US CBS owns
them all and fuck CBS.
cads:
http://therealasset.co.uk/bitcoin-maxcoin/ okay here's
the article --
the first paragraph in
the section "trouble at mt gox" gives a summary of
the mt gox problems - glitches in gox + a bug in bitcoin +
trade halt at gox + double counting.
mircea_popescu: i did
the exact
thing with
Trilema posters in Romania five years ago, country was fucking full of stickers and whatnot.
mircea_popescu: they want
to run illiterate articles in
their bullshit rags nobody reads anyway, fine, let's put some paper on
their limos.
mircea_popescu: they'd have
to be posted, and
the postings photographed and so on.
mircea_popescu: but
the facebook angle of "here's some pdfs of stuff we made in illustrator" has little adherence.
benkay: i need something btc
to do
that's not
this damn parser
benkay: i'll go bike around
town wheatpasting 'em
mircea_popescu: do you actually print and glue
those
things or just design
them ?
mircea_popescu: bitcoin will prevail in spite of
the current hierarchy.
cads: but if
they hear
that what's going on is
that a
trading house is doing a fractional banking scam,
that's something
that appeals much more
to
their refined palates
cads: my
though was
that if money and fund
types hear
there was a bug
that let criminals make off with millions
they'd be unlikely
to even consider what maxcoin has got going on
that makes it 'even better'
than bitcoin
mircea_popescu: i mean
this channel was fundamentally born out of some clueless noobs' inability
to grok
that intelligent discussion is more important
than avoiding displays of cunt.
mircea_popescu: cads was it also a rewrite of
the
trilema gox article ?
Bugpowder: Nature guarantees
that your work will be read and discussed by many scientists. We have limited bandwidth, must use it optimally. (like hanging in bitcoin-assets)
mircea_popescu: i wouldn't go as far as
to say it's bad for science, but it definitely is inconvenient for anyone not an idiot with a nature subscription.
cads: and it seemed contrived, meant
to attract money market
types
to maxcoin
cads: I don't know enough or care enough about mt gox
to know what is going on
there, but
there was no mention of
the bug or
the millions lost
Bugpowder: Vexual: Not if its
total bullshit. It is negative for science, as
that Nature slot is not used for something real.
cads: hmm, I might have an example of convenient narrative. I read an article of a blogger hyping maxcoin. She claims something about
the mtgox situation
that I can't quite understand, but seems
to level
the accusation
that mtgox was engaging in fractional banking.
Bugpowder: mircea_popescu:
That's
the way it is on
Twitter
Vexual: hey if it gives a viable story for where
the stem cells came from in future findings, it can only be good for science
mircea_popescu: i imagine it'll be a good day when most of
the people commenting on Nature are going "hey guise Nature is nasty I am ignoring it hahaha!"
Bugpowder: But
the narrative is so sexy... Nature publishes
Bugpowder: Post pup peer review ongoing... nobody can replicate it, now irregularities being discovered in
the gel blots...
mircea_popescu: Bugpowder aww and i was eating all
these oranges
trying
t oturn my stomach into an octopus!
Bugpowder: For example,
the recent dip cells in acid and
they become super stem cells paper in Nature... Bullshit
mircea_popescu: the more pissed off more people are,
the more dough
they get.
Bugpowder: This is
the problem with scientific publishing
too
mircea_popescu: if you optimise for
the largest possible counter of "views" it is antieconomical
to actually publish intelligent coverage.
Bugpowder: Why is intelligent coverage so hard
to come by? Are
they actually stupid or are
they just building a narrative
that is catchy but
they know actually false?
pankkake: so you can know, for
those pools
mircea_popescu: cads except it doesn't even do
that. all it says is what i said above,
pankkake: actually, some pools pay with
the block reward
cads: so
the news is just
telling us
the majority of new bitcoins are mined by
the pools
mircea_popescu: the block rewards will be sent
to some sort of storage, even if it's just a cold wallet.
cads: Bugpowder: I figured it be strange for miners
to predominantly sell at
the market price
Bugpowder: Although, do
they count pool payouts as "being spent"
BingoBoingo: Bugpowder: Because pools have
to pay
their hashers.
mircea_popescu: Bugpowder no argument, i just
thought he actually published something useful / put some work into actually applying it or w/e.
Bugpowder: mircea_popescu: Nothing
that I have seen. Just likes
to blather on about
theory of alt coins and bitcoins and VC shit.
The whole Andressen Horowitz
Twitter axis does it (Chris Dixon, Balaji Srinasivan, and Marc) Not a bad follow
though
cads: yeah, sorry guys, I was expecting it
to be
two or
three lines
cazalla: hello again cads, how are you
today
mircea_popescu: omfg we'll have
to put dpaste.com in
the fucking
topic of
the fucking channel because all
the fucking noobs can't find it on
their own.
cads: Welcome
to
the
twenty-first century."
cads: even
though
the same staff are working on
the same software in
the same Mumbai cubicle farms.
cads: bacterial plasmid exchange, so fast
that, by
the
time
the windfall
tax demands are served,
the
targets don't exist anymore,
cads: automated
their legal processes and are spawning subsidiaries, IPOing
them, and exchanging
title in a bizarre parody of
cads: business news,
the US Justice Department is – ironically – outraged at
the Baby Bills.
The divested Microsoft divisions have
cads: rehabilitation,
the second coming of Mao, who will save
them from
the consequences of
the
Three Gorges disaster. In
cads: government with an increased majority in
the Duma; meanwhile, in China, fevered rumors circulate about an imminent
cads: cocoa in Belize and books in Georgia. NASA still can't put a man on
the moon. Russia has re–elected
the communist
cads: uploading lobsters into cyberspace, starting with
the stomatogastric ganglion, one neuron at a
time.
They're burning GM
cads: just as bad as ever, but
the war on fundamentalism doesn't hold much interest for Manfred. In San Diego, researchers are
cads: ever:
They're using
this unprecedented state of affairs
to harmonize
the curvature of bananas.
The Middle East is, well, it's
cads: Along
the way, his glasses bring him up
to date on
the news. Europe has achieved peaceful political union for
the first
time
cads: walk, and
the only real hazard is dodging
the
trams
that sneak up on him behind
the cover of his moving map display.