793100+ entries in 0.506s
mircea_popescu: is
this hbd supposed
to be "sanity ready
to fight spurious accusations of racism" ?
decimation: the individualist are better at coordinating
things on a large scale
mircea_popescu: possibly because
the
term is in my mind strictly related
to stalin.
Vexual: say
that in an aberdeen pub
mircea_popescu: which is fundamentally why england conquered scotland rather
than
the other way around
Vexual: yeah
then it breaks people starve and start over
mircea_popescu: and it's a well known fact
that
the more connected model always emerges victorious.
mircea_popescu: in
the end,
this all yields a richer conenctivity in society,
Vexual: youtube
thinks im a french
tween
mircea_popescu: so in
the end,
the future looks like,
two
to six slaves living i nthe care of one master, who gets in
the wot and
tries
to make sense of whether mp or x or y is more sensible
to keep his house's money.
mircea_popescu: not deliberately, just,
they're
too fucking dumb and uninformed
to survive in
the world as it is.
decimation: yeah in frat houses in us universities
there is often such a person
mircea_popescu: this meanwhile has expanded
to college aged kids, who are in fact an opressed group by now.
mircea_popescu: in most large
towns cops reflexively seek him out in any conflict
mircea_popescu: much like average people going out
to drink have a designated driver,
these cvasi-familial arrangements have a house mother
decimation: Like someone who stays home
to raise
the children?
decimation: everyone else needs an arrangement with
the local duke or landgrave
mircea_popescu: ownership is a muddled
thing anyway. so you own your house. you can't set it on fire. you can't dig a hole in
the livingroom. etc.
decimation: well, it certainly is
the case
that money will stay in
the hands of
those who have
the ability
to hold it
Vexual: it mght affect where you are able
to sell your product effectively herbi
herbijudlestoids: i have heard a number
that
the richest 100% own a lot, but
the number i heard was like 8%
herbijudlestoids: nowaybro, if global assets includes say, a cashflow positive farm or car factory or whatever
then
that piece of ass(et) doesnt matter who you bank with
herbijudlestoids: another number i found for 2013 is
that 29 million own 39% of global assets
Vexual: yeah
thats
the humanitarian brach of
the nsa
mircea_popescu: i guess it depends on how conspiracy-minded
the approach is.
mircea_popescu: (fun fact : 50% of all wealth
today is owned by 97 people, i hear)
mircea_popescu: the original observation, however,
to wit
that politics has very quickly diminishing marginal returns, and in general you don't need more
than 100 men involved in it in any case, is sound.
Duffer1: herbijudlestoids it's a lot better
than lessons from Labcoin :P
decimation: "intellectuals" call it
the "noble lie"
mircea_popescu: well more like... you know... what alternative shall i have, woe unto me. i dun see one, other
than lieing it you
decimation: even if
they start out competent and strong,
the inevitible incentives
to cheat...
mircea_popescu: the day you decide your financial security is "to be" ensured by nebulous
third parties...
mircea_popescu: the day you quit cleanning your house it will cease
to be clean.
decimation: which is
the current situation more or less
mircea_popescu: yet people don't generally want
to nor generally can be renaissance complete personalities.
mircea_popescu: in general,
the problem is vast.
the day your average us citizen has decided
that politics is a problem
that other people should solve for him, so he can focus on w/e his job is
decimation: it's
the quis custodiet ipsos custodes problem
mircea_popescu: i've been measuring it across
the board, you've perhaps seen
the
tail ends of
ti
mircea_popescu: what's worse, i doubt
there can actually be an alternative
to
toughening
the agents
the fuck up.
decimation: Do you have an alternative in mind?
The only
thing
that occurs
to me is rugged investors and businesses creating gpg contracts on
their own
terms.
mircea_popescu: because your model fundamentally doesn't work, and so
they're all stuck
mircea_popescu: everyone involved has a definite interest
to muddy
them
decimation: Well, at least my "competent bank" would be better
than current gov't and banks because
the liabilities would be explicit and clear
mircea_popescu: that's wishful
thinking in a bowstring. what
the fuck.
mircea_popescu: you know how
they pass laws going "nothing in
the foregoing should be construed as doing X" ?
mircea_popescu: decimation something like
that. you're basically saying "it should be done", like a govt.
decimation: I guess I'm pushing it into
the black boxed labeld "competent bank", and you are saying such a bank would have
to charge enormous fees
to employ
the right people
mircea_popescu: sadly
there is no such
thing as a "verifiable
true financial"
herbijudlestoids: the businesses have
to do nothing except list
the bond and
their verifiably
true financials
mircea_popescu: this is kind of
the general point here : you ignore workload at your peril. sooner or later it will punish you.
decimation: But I guess
the work has
to exist somewhere
mircea_popescu: if you need fineness as an input your system is
thereby aborted.
herbijudlestoids: decimation: im assuming
the loan granularity is extremely fine so you can loan your bitcoins equally amongst
them or however you like...
mircea_popescu: it's basically
the equivalent of driving a car by
touch.
herbijudlestoids: mircea_popescu: marginal savers can do
the legwork and rest of
the market can
take
the interest rate as
the signal
mircea_popescu: if you want
to cut wood and feed stoves, "town heating services" aren't useful
to you.
mircea_popescu: herbijudlestoids yes. if you want
to do all
the work, you don't need someone
to do
the work for a group of "you".
mircea_popescu: decimation you want sane business models at all
times.
this one you're contemplating proposes
to make 10 dollar steaks out of nine meat.
that leftover dollar isn't enough
to hire anything but mcdonalds staff. which won't make what you want.
decimation: what if you wanted
to divide a loan amoung a few others
to reduce
the risk?
herbijudlestoids: well what would i need
the bank for, if i can for example loan 10 day money in a liquid market
to some business directly, and
then when i need some money sell
the appropriate amout of 10 day loans back into
the mkt?
decimation: I'm not sure
the crisis would be of
the same magnitude as what fiat banks have gotten into
mircea_popescu: that's my point. if he wants a self-service
thing he doesn't need
the bank
to anything.
KRS1: looks like
theres also a rating
to
them
KRS1: herbijudlestoids>: he's finding
the contracts in
the blockchain?
mircea_popescu: what, you
think financial
top management particularly WANTED a crisis ?
mircea_popescu: decimation so
then you
try
to "make it work" which means you push both ends and
then a decade down
the road your shitty officers bring about a crisis of unheard magnitude
decimation: Well, you certainly wouldn't find anyone qualified working for banks
today. He/she would have
to be grown from scratch somehow.
mircea_popescu: herbijudlestoids i just mean
that if you want
to dd on your own you can't possibly need a bank for any purpose.
decimation: MP, as in you won't be able
to find anyone who is qualified
to make
these kinds of subjective creditworthiness judgements?
mircea_popescu: herbijudlestoids why do you need a bank
to interface your etrade account ?
herbijudlestoids: decimation: why cant any business wanting loans list a bond and
their financial deets and allow me
to quantify
them and bid in
the free market on
their rate?
decimation: there will be people who just wanna have some passive income, and will be willing
to pay
the bank fees
to make sure
the deal is reasonable
mircea_popescu: how do you
think i'll be able
to coerce herbi here
to do all
that legwork for your blind "classes"
decimation: ie a real finiancial middleman in
the proper sense
decimation: the bank would provide research and screening of businesses wanting loans, as well as negotiating
terms for classes of investors