log☇︎
852500+ entries in 0.553s
fractal: pankkake: stop spamming the chat. thanks.
ozbot: Plan to block payments to websites that allow children to view pornography | Technology | theguardi
Scrat: which was way luckier than nakowa
fractal: Scrat: whats the psychology of someone who plays at your site instead of just-dice? why would they do it?
Scrat: fractal: I've had a guy go +135 on my website spamming 3 btc on the 50%
Scrat: he's delusional and he thinks that past losses influence future wins
fractal: '<nakowa> I pm doog in the forum, told him how to help me rain. I'm done here. Bye! I'll be truly miss you and here."'
pankkake: he must have bet LetsDice IPO money. maybe I should have invested in there :D
Rannasha: fractal: He said that before after his first big run.
fractal: scrat: of course. and he won't stick around to bet more... he says he is cashing out and never playing again
Rannasha: Nakowa is also the only gambler with a bankroll of that magnitude. So him having a lucky streak significantly offsets the sites overall stats.
fractal: you dont need 100million wagered for 1%. its the number of bets that matters not amount wagered... take away nakowa and the site is OVER 1%
Scrat: fractal: yes since if you take away his bets you're left with 0.00001 shitty bets and the law of large numbers
mircea_popescu: at least that's what i read in it.
Diablo-D3: is that like
Scrat: "beating the bank"
fractal: Scrat: no. the site profit is 1% if you take away all of nakowa's bets. only nakowa is beating the bank
mircea_popescu: he said that ?
Scrat: probably need 100 million wagered to converge close to 1%
fractal: pankkake: glad to see you're down on your just-dice investment. made my day.
pankkake: thanks to nakowa's past bets I guess
Diablo-D3: I won like 100 BTC before SD fixed their shit lol
fractal: house edge is 1%... so he's beating the bank
mircea_popescu: what's the site stats like ?
fractal: my investment down 200 btc because of this guy
fractal: looks like 'nakowa' has won 8,000 BTC from just-dice.com 4,000 in the last 2 days. insane.
assbot: [HAVELOCK] [XBOND] [PAID] 0.69348300 BTC to 1`386`966 shares, 50 satoshi per share
Namworld: Hmm, well I'm off. Enough crazy reads for today.
Namworld: Yes, that might be an accurate representation of bitcointalk.org
Namworld: "Dude read this thing.. dont move this shit it is completely nuts. You should make this post the home page
Namworld: He wouldn't be able to beg for money on the forum.
mircea_popescu: how's that different from current situation ?
Namworld: He could graze in it and sing to a crowd of spirits.
mircea_popescu: dude, if this guy floated i'd still laugh at him.
mircea_popescu: Let me just say, so you know. They total amount you laugh at me in your lifetime for my beliefs, you will laugh at yourself when I float.
Namworld: His signature says: "Currently seeking plot of land to host 1,000,000+ person music festivalDank Dream 2012 - Leave fear for love"
Namworld: I feel high just reading this
Namworld: "I'd say we are equal. Actions do speak louder than words, which is why you will all believe me when I float at the concert, just as St. Joseph and Yogi Pullavar did. I know someone personally who has floated and I know someone who has witnessed their iPhone float."
Namworld: It's a madman's soup of text
mircea_popescu: (what I thought would happen is they would kill me, bitcoin forum would take notice, world takes notice, economy collapses and society breaks down for a concert to be organized. I would descend from the sky, like a UFO and bring peace.)
mircea_popescu: ahaha that thread delivers.
mircea_popescu: "Dank, I had a dream that you returned to me the million dollars that I loaned to you in my other dream. "
mircea_popescu: The Tale of Dank, an autobiography explaining my life and helping you understand and believe in it.
Namworld: His writing would be enough to give someone an aneurysm.
Namworld: Troll being much more plausible, I'll go with that.
Namworld: I assume since he was in the past coherent he's either a troll who stole money and now is just trolling hard. Or he was already slightly paranoid and the threats made his mind dive where it could not return.
mircea_popescu: i wonder if this is his confused bid to get laid.
Namworld: oh wow... crazy dank is getting crazier by the day.
random_cat: that's what happens at the end of the continent's sewer
mircea_popescu: meanwhile back at the ranch : http://edition.cnn.com/2013/09/19/us/louisiana-brain-amoeba-water-supply/index.html
mircea_popescu: gangplank i think it was aum
random_cat: can we call it dropping syringes used for heroin and/or coke injection instead, mircea_popescu? That would seem to fit better.
gangplank: what were they called again? aum something
mircea_popescu: random_cat seems to me it's not, in the sense dumping poison gas in tokyo subway ism't the usual fit vs unfit.
random_cat: isn't that the usual savvy vs unsavvy?
mircea_popescu: more like an extraction engine designed to encourage people to make trust mistakes.
random_cat: i was merely commenting that ripple's debt model is a direct facilitator of fractional reserve for all one might trust
pankkake: at least ripple could allow you to trade 1.1 mtgox btc for 1 bitstamp btc ;)
pankkake: that's true of every service accepting bitcoin deposits
pankkake: I wonder how you can provide that kind of evidence - "surveys"?
Namworld: The safest thing against zombies is background furniture that can't be interacted with/destroyed.
Namworld: Will call it AM for AdvancedMadness. Mad scientist flying in style with advanced technology.
VanCleef: think we should do an ipo for america to get more guns, not enough guns in america yet, need to give them moarrr
asciilifeform: "I don't even need to transfer the Bitcoins when I make a loan. A transfer would only become necessary when depositors or borrowers draw down their accounts."
asciilifeform: where do you go to spend a phantom btc, of the kind shat out by a fractional reserve lender?
jcpham: "Since I don't think my customers are likely to withdraw more than half of their Bitcoins, I can afford to lend out far higher amounts."
dexX7: same error on trading api
asciilifeform: partially on topic: http://youtu.be/4K6FXe5XcHs
asciilifeform: mircea_popescu: i presume you still use spam filters, no? despite the educational value of some 419s
asciilifeform: even when a scammer fails to steal a net positive sum, he steals 'brain cycles', no?
mircea_popescu: i don't think so. great opportunity for new people to learn shit.
mircea_popescu: the forum didn't have signal before that.
mircea_popescu: what, the forum ?
asciilifeform: mircea_popescu: it succeeded in getting attention and pounding the signal-to-noise ratio of various places into the floor
mircea_popescu: im pretty sure the labcoin one is in the red.
asciilifeform: mircea_popescu: i'm just a bit befuddled at the success of the btc chumpatrons
Duffer1: i think backing up addresses with issuers is a reasonable precaution
mircea_popescu: asciilifeform "anyone". why does anyone trust the ipcc ?
Ukyo: If i posted that in btct's thread, it would have defenitely been an attack, and not to get a shared consensus from other investors
Ukyo: This was just to make my opinion as an investor to other inestors for consideration
Duffer1: mp burnside's confirmed they 85% of shares controlled by the principle labcoin account haven't moved, the activity we're seeing is legit trading
asciilifeform: why does anyone trust them without a mathematical poison pill of some form ?
asciilifeform: well, these folks want trust without the reputation of an affair like mpex. so, cryptocontracts (shitcoin, or something more state-of-the-art)
dexX7: ukyo: you're post is great, but wouldn't the btct thread be much more fitting?
ozbot: S.BVPS delisting notice pe Trilema - Un blog de Mircea Popescu.
mircea_popescu: Duffer1 the correct way to handle this was, of course, displayed long ago by mpex.
Ukyo: agreed, but i should have been pesented that way
mircea_popescu: if type 3 is large enough we get a runaway reaction which is bad.
Duffer1: ukyo you're not wrong man, but pr dodging the exchange operator couldn't be a bigger red flag
mircea_popescu: if type 2 is large enough the scammer ends getting a negative net before being mauled to shit by 1.
mircea_popescu: a good 90% of the "volume" is the scammer trading with himself. the remainder 10% is distributed among the 1-2-3 types.
mircea_popescu: finally some muppets buy because they're idiots.
mircea_popescu: some other people buy because they daytrade, that's what they do. these punish the hell out of the scammer by extracting btc from his shit.
mircea_popescu: it was my 500 btc then, for instance.
mircea_popescu: asciilifeform well it's a little more complex. some people buy for the lulz, which is exactly the same process that sunk patrick harnett way back when : have someone with a small but definite investment that takes you to court and kills you.
asciilifeform: Duffer1: how not? you give some random fellow btc, he proceeds to do ???, you take his word for it
Duffer1: 130nm at ipo with theseven consulting on their 65nm design
asciilifeform: do i understand correctly, the algo here: 1) peddle an outrageous crock of shit 2) people buy in 'for the lulz' 3) profit!
Duffer1: 7000 at ipo and much more has traded hands since then
mircea_popescu: Duffer1 "with the amount of coin involved"...