820000+ entries in 0.467s
ThickAsThieves: so
this forbes guy
that wanted
to short bitcoin so badly, ythink he knew about
this china announcement?
mike_c: unless its planting
tomatoes or something.
mike_c: i don't see how
that prevents
the semiconductor plants from being boss.
they can still crank out
the most work, regardless of what
that work is.
mike_c: asciilifeform said
the nsa has a plant
that does it
KRS|gotyawallet: mike_c: not
the U.S.. I mean, have you known
the U.S.
to get anything done in a matter of weeks?
mike_c: asciilifeform: i don't see how arbitrary work function helps. have you written something up on
this? i'm missing
the part where it keeps asics out of
the game.
pankkake: haha and
they don't accept litecoin as payment
dub: asciilifeform: swapping
them for guys with warehouses of pgas as central banks?
TomServo: ThickAsThieves:
This is
the UK onion right? *sigh*
davout: feels like a good way
to invest 100eur
benkay: asciilifeform: examples:
targeting fpga's; dynamic workfns (as you mentioned); sorcery resistance
mircea_popescu: thje spot is
the spot, but
the actual price shall never be known.
benkay: asciilifeform:
the first set of course
davout: but
the spot is still
the spot right? i mean, it reflects
the actual price of
things? or am i missing something obvious here?
mircea_popescu: the price at which futures settle is QUITE
the price at which
they
trade.
mircea_popescu: davout
the price at which options settle is not related
to
the price at which options
trade, in
the sense
these are independent values.
benkay: whereas if you
take posession of
the livestock, you can sell
them for
the market price.
mircea_popescu: (for instance it's convincingly arguing atm
that
the large banks are keeping rthe gold price very low
throuigh
this exact
trickery)
mircea_popescu: an option resolves
this problem by
trading on
the spot. futures
trade on
their own "implied" spot, and so you can easily be stuck
davout: finance is
terrifyingly interesting
mircea_popescu: if however you CAN
take
the livestock,
then
they are well incentivised
to not declare livestock worth 10 dollars, cause you'll just
take it.
mircea_popescu: you're stuck realising whatever price whoever sold you
the contract decides
mircea_popescu: davout yeah. if you buy
the right
to receive livestock in
the future, as long as you can't actually
take
the livestock
davout: and on
the awkwardly skinned options part ? :-)
davout: can you elaborate on
the keeping
the market honest part ?
mircea_popescu: davout
the main difference between options and futures is
that a correctly implemented future allows physical delivery,
davout: benkay: i guess i'll need
to understand how
to model volatility before writing one
benkay: just so
that when cold wallets start emptying
themselves
those who keep
their eyes on
these
things have another class of cryptocoin
to move into.
benkay: kinda
the only altcoin
that makes practical sense.
benkay: i'd like
to see a shor-resistant cryptocurrency.
benkay: if you really want
to understand options, write a pricing algo.
davout: i'm not
touching options, and i certainly won't write
them
mike_c: i value learning by experience, but
the p/l graphs are definitely something you should understand before
trading options.
davout: mike_c: see,
that's
the kind of graphs I want
to really understand by coming up with
them
the hard way :-)
davout: got myself "Options, futures, and other derivatives" doing
the problems, I feel like I'm back in college xD
davout: mike_c: well, i guess it's up
to
the party who writes
the option
to come up with
the right price
davout: unlike futures where your profit varies linearly with
the spot price of
the underlying at maturity/expiration
mike_c: at a higher price
that is
davout: the way i understand it you can lose a lot but your profit is capped by
the price at which you sell
the option
davout: benkay: i've been working on my financial education a lot recently still lots
to learn, but isn't it much more dangerous
to write options
than it is
to buy
them ?
kleeck_: What is
the best place
to short BTC?
davout: i didn't come up with it, i
think it comes from
the simpsons
davout: TomServo: it's not a pyramid scheme, it's a
triangular opportunity
benkay: (assuming
there's something dumb and
that you
two'd know)
benkay: asciilifeform, mircea_popescu: what's stupid about
the NTRU encryption scheme?
mike_c: he's got all
the bitcoins :) somebody would have
to have all
the fiat for it
to be a ponzi.
mike_c: somebody is
typically holding all
the money in a ponzi. who would
that be?
mike_c: tough
to be a ponzi without somebody running
the whole
thing.
TomServo: Although
that'd be more accurate. You mean,
that's your response?
TomServo: What's your standard response
to "It's a ponzi!"?
nubbins`: ^ surprisingly resilient
to
the elements
ozbot: imgur:
the simple image sharer
nubbins`: we've actually been experimenting with silkscreening posters for
taping
to poles
nubbins`: and so
the posters came back down
nubbins`: shocked
that
the mother of god would be compared
to a chicken sandwich!
nubbins`: some guy
thought a play on "hail caesar" would be a good idea
nubbins`: some years ago, mary brown's released
this new sandwich called
the Big Mary
ozbot: Chicken in
Turkey: Mary Brown's aims for Istanbul - Newfoundland & Labrador - CBC News
mike_c: everybody ran
to china
to arbitrage and drove
the price down :)
mike_c: china is asleep at
the wheel.
gribble: MtGox BTCUSD
ticker | Best bid: 1123.0, Best ask: 1124.0, Bid-ask spread: 1.00000, Last
trade: 1121.0, 24 hour volume: 56407.85643252, 24 hour low: 870.001, 24 hour high: 1240.0, 24 hour vwap: 1069.77714
ThickAsThieves: (sorry channel, I'm just about bored with
the print
talk) :)
nubbins`: "yeah, auhhmmm, i want flowers like pandora vanderpump had at her wedding... but i don't want
them
to, like, cost a lot"
ThickAsThieves: in
the end i was hand-scoring and
trimming corners one by one
nubbins`: yeah,
there's basically zero market outside of wedding invitations
too
ThickAsThieves: people will pay pretty well for it, but way
too custom for my patience again
nubbins`: and i'd want
to be able
to make my own plates
nubbins`: would love
to get into letterpress
nubbins`: i can't remember either. rad
tho.
nubbins`: what did
they call
those projectors
they used
to use for seps?