867100+ entries in 0.585s
mjr_1: its not about
the amt, its about
the mentality
gecko_x8: and
that he should not, because he will never succeed, and he will always remain poor and stupid
gecko_x8: you're saying
the man with 0.1 btc is poor and stupid, and is
trying
to play
the lottery here on btct
dexX7: gecko_x8: i
think
the implication is: investing in "scam companies" = "playing lottery".. might work
today,
tomorrow, even
the next weeks, but..
gecko_x8: just
the feeling i get from your comments here
gecko_x8: i'm just
trying
to figure out why i'm 'poor and stupid' for doing so
mjr_1: you can also do
that with dollars
mjr_1: they may appreciate, or you can invest
them in an asset
that pays dividends
gecko_x8: that's not
the same as buying lottery
tickets
mircea_popescu: but
the idea
that somehow btc is friendlier
than fiat is ridiculous on its face.
gecko_x8: just wanted
them
to earn some dividends
gecko_x8: i been sitting on my btc for a long
time
mircea_popescu: btc is perverse enough
to let
that appear
to work, at least for a little bit.
mircea_popescu: well, you're right, it's not lottery. it's btc.
the problem is you
try
to interract with it on
the lottery model.
gecko_x8: you are comparing it
to
the baby boomer built syste
mircea_popescu: look at people who caught a windfall
through sports. are
they rich ?
mjr_1: look at lottery winners, and compare
them
to hedge fund managers
mircea_popescu: look, we're in different
trades. you do literature, i do finance.
mjr_1: difference between poor and rich is
that if you
take a rich guy's money away, he'll get back, if you give a poor guy money, he'll be poor again in no
time
gecko_x8: then he invests
this 3.8 btc in something
that goes up 100,000 percent
gecko_x8: it's not within his rights
to do so?
chaang-noi: "situation of chaang-noi" lol, i bet most people would love
to
trade places
mircea_popescu: it has nothing
to do with btc, and
there's never going
to be an outside solution
to
this.
gecko_x8: and
treating a man with 0.1 btc
the same as a man with 1000 btc
mircea_popescu: it was
the same in 1600s low countries, and in 1100s serene republic.
☟︎ gecko_x8: i
thought btc was all about getting rid of
that
gecko_x8: this is
the
tradition you are referring
too?
gecko_x8: by 'normally' you are referring
to
the worthless fiat paper money world? where wall street hyenas rob
the common man of his savings?
mircea_popescu: gecko_x8 poor people don't normally make money out of
their money.
Rulother: 30 btc
to just
to
trade right?
gecko_x8: only rich ppl should apply,
the rest should die?
mircea_popescu: this doesn't mean your survival expectation isn't about 14 months. it is, just, average meth head doesn't have
the wits
to see
that far out into
the future.
mircea_popescu: if you start cooking meth you will probably
think you are doing ok "So far"
gecko_x8: with
TAT for ex, i
think he's doing a great service
to
the community
gecko_x8: yes i agree, it's a lot of work
to commit yourself
to without proper compensation
gecko_x8: but
they do serve a purpouse, for ex i can buy AM PT shares without paying
the ridiculous registration fee of mpex
mircea_popescu: yes, but
the PT ops may find
themselves in
the situation of chaang-noi.
gecko_x8: right.. well imo it's because of
the wild west nature of btc land.. not sure if i favor a wall street
type of nazi regulations enforcement model in btc-land
mircea_popescu: but it being a
tough call puts
them leaps above all
the other shits, where it's no
tough call at all.
mircea_popescu: on
the other hand
they have paid a lot of BTC in dividends,
they do have a viable business model which is operational and so on.
mircea_popescu: the one beef with am is
they wouldn't make a proper contract, instead letting a bunch of people make PTs on basically
their own.
this is very severable
tyo
the benefit of AM, which sinks
the deal for me.
gecko_x8: dono't get me wrong, i dunno you and i'm a noob in btc securities.. just
trying
to figure out all
the fuzz about you :)
mircea_popescu: there's no practical way
to summarize months of discussion in
this format.
gecko_x8: well
that's something positive
gecko_x8: is
there a company listed on btct
that's not a scam?
gecko_x8: is
there anyone here
that isn't an idiot?
gecko_x8: mircea_popescu no?
that's what i've gathered so far? so what is not accurate?
gecko_x8: according
to mircea_popescu, everyone here except him is an idiot, owning bitcoins is stupid and every company listed on btct is a scam.
dexX7: selling
there for ~110 $ doesn't sound
that bad
gribble: MtGox BTCUSD
ticker | Best bid: 118.88105, Best ask: 119.00399, Bid-ask spread: 0.12294, Last
trade: 118.77494, 24 hour volume: 47284.31025050, 24 hour low: 111.77100, 24 hour high: 123.74518, 24 hour vwap: 118.04042
dexX7: if i had
to decide between actm and lab, i
gecko_x8: i did my own 'thinking' and came
to
the conclusion
that you know perfectly fine who eAsic is, you for some reason you choose
to play dumb?
gecko_x8: well i'm
thinking actm has a deal with eAsic, and
the chip design is flat cores
mircea_popescu: that;'s what makes anything powerfdul : lotsa people doing
their own
thinking
mircea_popescu: i'm not suggesting anything. you gotta do your own
thinking
gribble: Next difficulty estimate | None based on data since last change | 66574219.0571 based on data for last
three days
mircea_popescu: so I made a little
thing
to
test
this
theory. remarkably, it provoked no fake "muslim unrest".
mircea_popescu: rather
than as a result of
them
taking out contracts on
their own people from
the higher bidder.
mircea_popescu: anyweay,
the backstory on
the barbecuran
thing : at
the
time
the notoriously dishonest us propaganda machine was pretending
that
their benghazi personnel died as a result of some dude publishing youtube videos
mircea_popescu: also, why
the fuck are
they linking some stupid spamsite.
dexX7: hehe
that was on /bitcoin's frontpage for a few hours
mircea_popescu: "Why do you care, he's got good opinions. It's stupid of him
to
think
that he had anything
to do with stopping
the bubble, but let him be. His blog is pretty fun 2 read."
mircea_popescu: what ever happened
to
the german guy
that had his accts flagged and an inverstigation started ?
olonro: I
think you are confused.
olonro: What if.. everything
they say about BFL is not
true and just a FUD campain
to slow down
the diff acceleration?
ozbot: Open Letter
to Luke-JR About Alt-Coin Attacks
Luke-Jr: dexX7: ignore
the
trolls and
their lies
kakobrekla: this is
the guy who secretley mined altchains on his pool with
the agenda
to destroy altchains by selling
them for btc
dexX7: is
this good or bad for "us"?