860900+ entries in 0.622s
mircea_popescu: if you're into it for epeen, you'd better get used
to having
to buy btc periodically.
mircea_popescu: so pretty much mining is a on
the long
term a way
to lose btc, not make it.
thestringpuller: so pretty much
the mining companies will have
to invest in other
things instead of mining (as warren buffet did in lieu of
textiles)?
thestringpuller: mircea_popescu: I guess in relation
to what we'll experience with mining when
the difficulty catches up
to
the hash rate.
thestringpuller: i did,
the only answer I could find was based on interpretation and I'd like
to hear yours but I guess if it's all
the same...
benkay: thestringpuller: if you're
testing
the
thing, you're burning electrons. if you can recoup
the currency
those electrons cost, your cost of
testing just went down. so i ask you: why
test on
testnet?
thestringpuller: you guys (you and MPOE-PR) never really elaborated more on
the Warren Buffet story (which can be seen on
the forums) about
the declining revenue for physical commodities
gribble: MtGox BTCUSD
ticker | Best bid: 144.00013, Best ask: 144.19000, Bid-ask spread: 0.18987, Last
trade: 144.00002, 24 hour volume: 14950.82974426, 24 hour low: 142.20000, 24 hour high: 148.90893, 24 hour vwap: 145.35591
ozbot: Jaful si economia pe
Trilema - Un blog de Mircea Popescu.
ozbot: Mizeria umana pe
Trilema - Un blog de Mircea Popescu.
ozbot: Hai sa facem si noi de-astea pe
Trilema - Un blog de Mircea Popescu.
ozbot: Ce bine ca ne-am unit mai fratilor pe
Trilema - Un blog de Mircea Popescu.
mircea_popescu: but why
the fuck would you mine it ?
to bury it someplace else ?
pankkake: why aren't romanians mining
themselves?
too lazy?
mircea_popescu: so far
these shitheads have been humiliated every single
time.
mircea_popescu: they've been
trying
to do it for > 10 years by now, much like
the riaa/mpaa have been
trying
to be shitheads for > 10 years by now
mircea_popescu: that mountain happens
to have been inhabited since
the
time of
the romans (who were also mining gold
there)
mircea_popescu: grubles old story. romania has huge gold deposits. always has. some dubious firm wants
to raze a mountain do cyanide extraction on some cubic km of ore.
Rawted: oh for sure, but
they at least have
to do a little digging for it, and its supposed
to be warranted. having a company directly feed
the info
to
them bypases all
that legal mumbo jumbo, which is what worries me.
deadweasel: rawted,
they don't have
too, FEDs have your bank records no problem.
deadweasel: if you buy from
them or sell from
them, never leave a balance at coinbase.
Rawted: i am still convinced
theyre feeding bitcoiners info
to
the feds.
deadweasel: they did finally get
their shit
together, it seems.
Rawted: i have had no issues, 2 day deposits,etc - but ive only sold
there.
Rawted: the only one i can say good
things about is coinbase
Rawted: more of
the
taking advantage of lesser intelligenced people bothered me
Rawted: now i made a killing on FTC
there, but i felt so bad about it i stopped mining altcoins lol.
Rawted: shady as all hell, and impossible for US based
traders
to get
their money out.
Rawted: nah i just dont
trust
that site at all.
Rawted: I need
to convince my PI
to
take btc so i dont lose so much on
the conversions.
Rawted: Yeah, hence
the issue. Oh well,
thanks for attempting
to help bud.
mircea_popescu: i've never
traded
that pair, i have no idea where it goes down
Rawted: mircea_popescu, perhaps you can suggest some good ones besides
the pit
to
trade in? Although i have
to admit localbitcoins.com is much easier
than any
trade ive ever done on OTC.
Duffer1: it sold out in less
than 5 minutes
pankkake: I
thought I had
the
time
to go out for a while
pankkake: what
the fuck dealcoin ipo already finished?
mircea_popescu: some chans will be shit. find
the good ones and live happily ever after.
Rawted: Sure, if you want
to dilute it. I fear you've only read
the one
topic
though!
mircea_popescu: hardly a secret, it's why
that chan
turned into
the forum a year or
two ago. what do you care ?
mircea_popescu: Rawted so basically
the dispute is what, poor moderation practices on bitcoin-otc ?
mircea_popescu: thought you were asking
to join 1btc a coupla days back.
Rawted: feel free
to PM me, ill
tell you
the
truth about coingenuity/coinabul/jay shore.
Rawted: hey coingenuity: i know you see my PMS. when you get done scamming honest bitcoin users, maybe you can devote some
time
to responding
to
them, or wait for
the suit paperwork - your call.
ThickAsThieves: eventually
they all convert into
the poor, pointing at meanies
that have all
the money and power
mircea_popescu: ThickAsThieves
that's actually
the correct counterpoint.
they aren't REALLY infinite, as
they can't be.
they just seem
that way.
mircea_popescu: just because
there's a
tool of progress
there's no guarantee any progress is
taking place. keeping a dildo in a drawer somewhere don't mean you're getting fucked.
benkay: but nothing progesses, idiots continue
to produce more idiots and we're left with 99% of crap all
the
time anyways
mircea_popescu: yeah.
this is
the beauty of
the free market : it exposes, unmitigated, raw,
the ugly underbelly of human stupidity.
Rawted: yeah i hear you bud, i just find it amusing -
the instant
trust and all
the 2 month old regged accounts
that are financial experts because
they invested in labcoin/actm.
theyre worse
than
the fudsters.
mircea_popescu: the objection however is
that
they are differently marked (ie,
the hole is of diff sizes)
mircea_popescu: Rawted
that happens
to be one of
the most common chip packages. sort-of like a honda civic, you know ?
mircea_popescu: Rulother so we get
to watch yet another emergency!cover
this post! forum sock action ?
Rulother: Ah well you should express your concern over on
the forums ;)
Rawted: lol @
those labcoin chip pics. Identical chips all over alibaba/express.
mircea_popescu: in general
they'll "think" whatever seems most convenient at any point.
ThickAsThieves: theyll probably
think i'm saying i bought all
the dealco
ozbot: [HAVELOCK] Dealcoin Official
Thread
mircea_popescu: fact of
the matter is, business doesn't give a shit, sooner or later
the
tide goes out. when
that happens all
the naked swimmers don't really get
the choice
to run off and dress.
mircea_popescu: even if
they'd have argued all up and down all
the summer
that it's not what
they intend.
mircea_popescu: i
think as
time goes by
the incentive
to split is getting strongert and stronger
ThickAsThieves: so labcoin and actm will resort
to buying random chips from mouser
ThickAsThieves: even funnier is
that if you are correct, some of
these guys also claimed
to be making
their own chips, some counting on Avalon for
that
mircea_popescu: start with where AM went past 0.5, because
that's where it all begins.
mircea_popescu: dexX7 announcement means shit. if
they win
the bitbet bet it might matter.
mircea_popescu: actually here's a good
thing you could publish on your blog :
timeline of
the miner scams and miner investment scams.
dexX7: haha i bet
this discussion will continue if labcoin announces
their 3
th hashing.. or something like "they bought some bitfuries"
mircea_popescu: no, because people in
the know / in
the right in group were selling at
the same
time
ThickAsThieves: if
they really were using
those coins on AM, wouldnt AM have gone up?
mircea_popescu: ThickAsThieves i'll give you even odds
that many (most?) of
these pseudo-mining offerings consisted of people
trying
to reimplement
the famous pirate scams of
the day.
they collected bitcoin from suckers, bought AM in
the hopes of AM going up, and with
the intention of paying a portion of
the proceeds
to
their suckers.