814700+ entries in 0.559s
mircea_popescu: it will never happen,
they will start shooting deli owners in
the street.
pankkake: I just
think
that no central authority is good
mircea_popescu: asciilifeform you're asking "how much worsening of italian delis would
take for mobsters
to abandon manhattan"
pankkake: meh. people seem
to
thing every little guy mining is good
pankkake: it has
to be decentralized, who cares about being distributed
pankkake: because
those certainly don't want
to understand
they will lose
mircea_popescu: mining has
to be "distributed", which means, it must remain unprofitable for large ventures.
mircea_popescu: a
tournament market, like
typiocally
the 1mn starlets waiting
tables in hollywood is
there
to exploit labour.
☟︎ mircea_popescu: it's a really great way
to use
the market for a good purpose. in
this case, we get
the strongest blockchain money can buy.
mircea_popescu: mpoe-pr quoted buffett on
the
textile market
to
the forum until she fell over.
KRS|Gotyawallet: management was
too busy worrying about
time
to market and couldnt be bothered with sill
things like security
mircea_popescu: anyway, people mine because if
they don't mine
then it's profitable
KRS|Gotyawallet: asciilifeform: where i used
to work we got hacked and one of our servers was made part of a botnet..i
tracked
them down
to an irc channel in
the philippines..done with perl..it was pretty basic stuff but still cool
to
take apart.
they got in because
the idiots setting up
the server didn't secure
the /tmp directory and jboss had its admin console exposed.
mircea_popescu: (which adds cosmic perspective
to
the mpex view of
the world, imagine
there exists another whole "Ecosystem" out
there made principally out of companies whose business model is operating in a not profitable by design market, and
those are 90%+ of
the revenue)
mircea_popescu: it's intended
to approximately break even, which means most people will book a loss.
mircea_popescu: asciilifeform mining is not intended or designed
to be a productive activity generally.
KRS|Gotyawallet: of course..it is an arms race indeed and
they're killing each other over it
KRS|Gotyawallet: what do you all
think about amt mining hardware? nwcwe heard of em
mircea_popescu: which
they do, inasmuch as
they handling money can't be libertards, and a sliver of libertards believe everyone who's not equally retarded is a fascist
KRS|Gotyawallet: anyone have word on cyprus?
that was big news a while back and I was wondering if bitcoin was of help
to
them.
mircea_popescu: asciilifeform hard angle
to sell for all
the people
that were offered
to buy still workjing nuclear subs.
mircea_popescu: KRS|Gotyawallet in
the food stamps context ?
the stealing of people's money by
the usg.
jurov: what a fancy way
to explain velvet revolution
KRS|Gotyawallet: I'm sorry mircea_popescu, when you say "this" did you mean bitcoin or
the situation with Iran and all
that.
KRS|Gotyawallet: thanks..gonna do some reading up on all
that..i must say, some interesting
times we are in.
mircea_popescu: are you aware
the only reason
the us army is not completely exterminated
to
the last man currently is
that
the chinese do not WANT
to ?
mircea_popescu: sits, waiting, while china spends 20 years developing complete
tactical superiority in every field.
mircea_popescu: so you know...
this shangri-la you speak of ? where o where is it ?
mircea_popescu: asciilifeform you know 40 years ago
that'd have
touched off a space race.
mircea_popescu: KRS|Gotyawallet
the ussoviet govt is running short on cash.
pankkake: "Using silly
terms like “CEO of worldcoin” and “CIO of feathercoin” in
their press release, UNOCS amounted
to one of
the most pathetic and
transparent pump and dump schemes in recent
times, yet people still managed
to fall for it" - CEO of an altcoin. omg
pankkake: shouldn't really affect havelock… maybe cfig which is now
the same guys apparently
KRS|Gotyawallet: The White House said Friday
the decision
to freeze U.S. assets of firms in Panama, Singapore and Ukraine represented actions based on existing sanctions.
nubbins`: hm,
there aren't any financial reports for vtx?
KRS|Gotyawallet: heard
the u.s. is freezing assets with panama or something
pankkake: (not
that it stopped everything on havecock from −90%ing)
nubbins`: pankkake: i lost on a similar one earlier
this year
ozbot: BitBet - Havelock
to restrict US investors before Dec 1st 2014
ozbot: BitBet - And
Then
There Was One
ozbot: BitBet -
There will be blood
nubbins`: there was a big stink about a new wireless company not being allowed
to open its doors because it was majority foreign-owned, but i'm not sure if
there was industry-specific legislation
nubbins`: i wonder what
the laws are regarding foreign ownership of shares
mircea_popescu: if i wanted my gold arbitrarily
transformed into worthless paper i'd be a us citizen.
mircea_popescu: you can do
that with five cents and a copy of
the pink sheets.
nubbins`: well, if nothing else, you can
trade your name, address, etc for shares in an actual registered company
nubbins`: mircea_popescu: i wonder what will happen
to
the shares of people who don't want
to hand over all
their personal info?
mircea_popescu: rather
than expect
the public
to donate
thousands of btc
to prop up
their unwarranted pretensions and delusions.
nubbins`: well if
they don't plan on paying divs,
there's either some serious salaries or some really shiny iMacs
mircea_popescu: nubbins` poverty and managerial incompetence are always poor excuses.
they claimed
they were an exchange, and can compete.
then
they should be an exchange and compete,
pankkake: somehow I figured it was just easier
to have
the fee only on
the seller side
nubbins`: i mean,
they do have like a handful of employees
nubbins`: okay so
they only made $40k CAD per week in fees
pankkake: better
than bitcoin-central :p
nubbins`: although
that's still
taking
the piss
pankkake: perhaps
there are not enough canadians
nubbins`: pankkake:
the "new, lower" fees are 1.5% on every
trade
nubbins`: no,
they were making money hand-over-fist.
pankkake: but how virtex never paid dividends?
the exchange was still operating at a loss?
nubbins`: "VirtEx
took 4000 btc from an IPO in March ($150K) promising a dividend
that
they never delivered. Now, only 9 months later,
their market reap is worth $3.6M (quite
the gestation) and
they are exiting
the exchange. No dividend, no buyback, simply a promise
to exchange currently held shares for "something else". "
pankkake: yeah,
that's a government
trademark
pankkake: so basically
they steal your stuff but give you a paper instead
mircea_popescu: you know, rather
than spending
that same
time hunting us down.
mircea_popescu: the entire bs is
there
to give idiots something
to do with
their
time. "learn how
to
tapdance and
then get your coupon for a chance
to get an option
to dance in front of
the
tv".