792600+ entries in 0.53s
jurov: but
that wouldn't be bad step
ThickAsThieves: they arent so out of
touch
that
they would sell something no one would buy
jurov: amazon alluded
to it (maybe unintentionally)
Duffer1: horribly out of
touch is
their slogan
Duffer1: you're
talking about bankers here
jayk: before
the banks accept bitcoin,
they are
trying
to start
their own version, like jp morgan is doing
mircea_popescu: (generally,
the old adage goes, careful what you claim for yourself, you might live
to meet it)
mircea_popescu: that's
the problem here. bitcoin selects for and promotes some very narrow, specified
things.
mircea_popescu: there's no way
to ensure it won't be
tat
taking it over, with his own version.
ThickAsThieves: maybe i should make Satoshi was an Anarchist shirts, everyone will buy
them
thinking it's for
the opposite reason
jayk: with
their own version
jayk: JP morgn wants
to
take it over
mircea_popescu: bitcoin, even should it have made by nsa, has actually
taken it over.
mircea_popescu: "we don't have 10bn in
the budget. application denied."
mircea_popescu: today at nsa headquarters, "sir, i would like
to apply for permission
to spend 10bn usd dollars in btc equivalent by dumpting our stash"
☟︎☟︎ mircea_popescu: anyway,
take
the nsa satoshi hypothesis. so
the nsa spent 5mn making
this
thing, which we all embraced. as part of
that expenditure it has premined 10mn BTC, which it kept, secretly. we don't know.
☟︎ mircea_popescu: and can't have sex as value without
trying
to hump vaguely calf-shaped electricity poles.
ThickAsThieves: can't have
trust as value without
thinking everyone is out
to get you!
mircea_popescu: the incentives are correctly alligned, which is
the absolute most you can say of any system
mircea_popescu: but it is in fact
the people hoarding
that have least interest
to see
this happen.
mircea_popescu: yet another point of elegant beauty
typical of satoshi designs.
mircea_popescu: strictly because
those 18.9 mn coins COULD BE SPENT. but if
they're spent...
they're no longer hoarded.
mircea_popescu: what, if anything, do you
think'd be different
today ?
mircea_popescu: suppose
the original satoshi prototype only had 2.1mn
total bitcoin, and original block reward was 5 btc.
ThickAsThieves: which i guess i should reform
to, why do
they not worry about hoarding
ThickAsThieves: during
the recent NY panels, we do
they only mention volatility, and never bitcoin's deflationary problems
ThickAsThieves: i guess
this conversation nullifies another question i had
nubbins`: after skimming
this article, i now understand
nubbins`: but
that's distinct from never spending at all
mircea_popescu: when
the fiat bubble is gone we will actually deflate, but
the effects of
THAT are not judgeable by
this.
nubbins`: it behooves one wealthy in btc
to delay purchases/spending for as long as possible
mircea_popescu: it's just
that parachutes do little
to protect you from falling objects.
mircea_popescu: in
the sense jumping out of a plane and having a piano fall on you yield
the same result.
ThickAsThieves: when fiat bubble is done, will we not continue
to deflate?
mircea_popescu: there is no deflation caught in
that discussion at all.
mircea_popescu: you can't "invest" in zimbabwe until
their failrency settles down
mircea_popescu: you'd have
the same difficulties if you landed in zimbabwe with a
trunk full of dollars :
mircea_popescu: but
this is an interfacing problem, not a deflation problem
ThickAsThieves: [18:11] <mircea_popescu>
ThickAsThieves hopefully it settles down.
ThickAsThieves: [18:11] <mircea_popescu>
this is a major problem for bitcoin atm.
ThickAsThieves: [18:11] <mircea_popescu> we're saying
that
the quick increase in
the btc rate puts responsible, competent ceos in
the position where
they forego fiat deployments
nubbins`: nah,
this is a guy who i've
traded casascius coins with before
nubbins`: honestly
thought it'd
take longer
twizt: can out weigh
the 99% of
times
they were 'good'
twizt: some people can be
trust worthy 99% of
the
time, and
the 1% of
time
they get sketchy
ThickAsThieves: another
thing I have
trouble with is how we can easily point out
the problems with inflationary money, but when we discuss
the problems with deflationary we stop at "well hopefully it calms down"
twizt: sounds like a martingale
to me
nubbins`: feel free
to add
the missing " or remove
the dangling one
nubbins`: i rate +3
the users i'm most likely
to enjoy drinking a beer with"
mircea_popescu: "if all idiots vote in
the wot like it is a nationalistic election, you will get a wot
that works like your fucking country"
mircea_popescu: this is kind-of
the gist of
the old mpoe-pr post re personal responsibility
mircea_popescu: ThickAsThieves if YOU vote
the wrong guy YOU are screwed.
nubbins`: and
then
tomorrow he
tries
to strike my wife
mircea_popescu: it means few
to one which groups in few
to one which groups in few
to one etc.
nubbins`: i could
trust someone fully
today
mircea_popescu: it's just
that "distributed" does not mean one
to many, as
the nationalist representation of bork would have it.
nubbins`: consider
that an ounce of weed should cost
the same as a dozen hothouse
tomatoes
nubbins`: twizt, weed costs about
the same
to grow as
tomatoes
KRS-: I saw
two dancers french kissing yesterday it was nice.