862600+ entries in 0.592s
fractal: jorash: It wouldn't 'doom'
the coin, but since
there would be no more block rewards, who would mine blocks for 0.1 BTC fees?
mircea_popescu: this notion
that getting
the public involved is good is just about
the stupidest
thing ever.
jorash: I'm asking
this question because I've got mixed reponse for people.
They
think increasing quickly
to 21m would doom
the coin, I
tihnk it would be healthy since it would drop
the price and allow many new buyers
to get in cheap, which is a long
term benefit for coin
fractal: at what price?
they're worth around 0.1
JimmyJazz: Good evening I purchase 10
TAT.ASICMINER shares.. wooooooooooooooo
Rulother: fractal, I've made up my mind, but I don't
take part in bitbet. Or betting in general.
fractal: jorash: buyers like me would put up a bid wall at $0.0001 for all
the coins, if
they
tried
to sell
them all at market
jorash: micea,
thats my favcorite answer
ThickAsThieves: jorash is
the guy who had me asking similar questions
the other day
mircea_popescu: ThickAsThieves whatever answer jorash wants,
the answer jorash gets is, go and
tell
thy masters
that bitcoin is here, bitcoin is forever, and
the only
thing changing is
them.
jorash: (I'm with a startup planning
to do
this)
jorash: mircea, say
the same
thing happened
to all cryptos
mircea_popescu: within a few months ltc would
trade
to btc just like btc
trades
to ltc now.
fractal: jorash:
the price would drop until
they were all bought,
then rise up instantly
jorash: some amount below
the market price
mircea_popescu: if 1 entity sells all
the bitcoin
then
the network is doomed.
fractal: and what was
the asking price?
jorash: 1 entity
though yes, via exchanges
Rulother: fractal, I've been here just over hearing all
the ramblings.
fractal: jorash: who is
the seller? 1 entity?
jorash: put into circulation meaning all remaining coins were mined instantly, and
then sold en masse for cheap
fractal: i
think he means distributed evently
fractal: jorash: all else being equal,
the exchange rate would drop in half.
thats about
the only
thing
that would happen
jorash: I'd like some input from you guys... what do you
think would happen if all 21m BC were put into circulation
tomorrow? Would people abandon btc altogether
mircea_popescu: fractal yea, Rulother is
the chief updates officer on
that one.
mircea_popescu: lol
tat with
the last 10 btc on gox, just
to
troll ppl
Rawted: yeah i only have 4k in gox, and ive been
trying
to get it out since june.
mircea_popescu: matuszed some noobs might, until
they discover how
taking fiat out goes.
matuszed: People will step in for
that arb
mircea_popescu: there's going
to be a funny situation of "we're closing down and will refund everything just after our good friend kenna is done refunding his custiomers"
mircea_popescu: basically as all mtgox btc are eaten up + whatever
tux can borrow from his fraudster friends in
the scam foundation
gribble: Error:
This is not one of
the supported markets. Please choose one of ['mtgox', 'bitfinex', 'all', 'bitstamp', 'btcde', 'cbx', 'btce'].
gribble: MtGox BTCUSD
ticker | Best bid: 140.83800, Best ask: 141.41556, Bid-ask spread: 0.57756, Last
trade: 140.30000, 24 hour volume: 29046.80762337, 24 hour low: 128.56000, 24 hour high: 141.41556, 24 hour vwap: 134.09019
mircea_popescu: tomorrow i
think it's getting resolved. seems a certainty at
this point
that no mattrer which way it goes
there's going
to be multuple bitchfests on btctalk etc
Rulother: After
that day long debate yesterday
mircea_popescu: ThickAsThieves you know, what "started
this" is someone saying so, in april.
Rulother: I'm so done hearing about
this damn bf bitbet
ThickAsThieves: there was a retracted article from
thegenesisblock pointing out gox might have serious issues\
chaang-noi: and i was
thinking wow, what a slow day...
chaang-noi: 16
to 17k btc bought in like 20 mins,...
gribble: MtGox BTCUSD
ticker | Best bid: 138.00000, Best ask: 138.01614, Bid-ask spread: 0.01614, Last
trade: 138.00000, 24 hour volume: 24554.77653449, 24 hour low: 128.56000, 24 hour high: 138.01615, 24 hour vwap: 133.06761
matuszed: if
theres gonna be a run on
the bank its going
to be interesting
matuszed: Theres only 29K Coin left at GOX up
to 200
ThickAsThieves: if it really is a liquidity problem,
then I expect we'll see more pronounced symptoms
chaang-noi: well,
that has been
the
trend for a few weeks now, it could break now but has been interesting
Scrat: now
the sheep will buy on bitstamp
to reflect
that "move"
chaang-noi: but gox has been pulling
the price of all
the other exchanges higher
Scrat: more people moving out of
that piece of shit exchange?
gribble: MtGox BTCUSD
ticker | Best bid: 134.36270, Best ask: 134.36900, Bid-ask spread: 0.00630, Last
trade: 134.36838, 24 hour volume: 19529.70646874, 24 hour low: 128.56000, 24 hour high: 135.16064, 24 hour vwap: 132.21581
thestringpuller: one sec will do
that once I get
to school gotta go afk for a bit for
the commute,
thanks mang!
Rulother: where is
this "call out" unless bitcoiner is you
mircea_popescu: thestringpuller "Ford dropped out of NYU after only a year, preferring
to concentrate on acting in
television commercials; at one
time, he was in 12 national advertising campaigns simultaneously."
San1ty_: Got
to run before
the cops get here!
assbot: [HAVELOCK] [SDSTM] [PAID] 1.00000000 BTC
to 100`000 shares, 1000 satoshi per share
San1ty_: ThickAsThieves:
Thanks for confirming :).
ThickAsThieves: <San1ty_>
ThickAsThieves: Maybe a Derp question, but what happens with your assets if Havelock would have an irrecoverable DB crash? <<<
there are backups
mircea_popescu: it was about 10x easier
to write
than it is
to re-write.
mircea_popescu: ill confront 4 variants and hopefully remember
the rest.
mircea_popescu: TomServo well luckily i keep slaves,
they all read my shit, i had everyone re-write it from memory under pain of lashing.
mircea_popescu: yeah, and if
that chain is 10`000 units long you go make a miner
to rebuild from scratch
gecko_x2: a few seconds
to
transfer off site
gecko_x2: a few seconds
to
take
the snapshot
gecko_x2: subsequential backups a fraction of
that