879300+ entries in 0.662s
mircea_popescu: what i always say is, go on
the market, see what's lowest ask and highest bid and put right in
the middle.
mircea_popescu: let's
take
this other example : i play eve. eve has a gazillion weird items. noobs want
to know what
to sell or buy for
ThickAsThieves: I guess part of my uncertainty here is
that I've really only sold like 60k shares here, and I want
to use each sale
to buy at a price over again
that is less
than
that sale,
there are only 200k shares in asks on
the books at mpex
mircea_popescu: there is such a
thing as premature optimization. bitcoin ain't
there yet.
mircea_popescu: mike_c
there wasn't a causality
there.
the idea is
to make a litte over more volume rather
than
trying
to optimize your rake on .x btc
peterl: mircea_popescu: if we don't do
that, we end up like
the soviets. lol
mike_c: i agree, but i'm not sure about
the leap
to it drastically increasing volume. although it certainly seems
to have for mpoe
mircea_popescu: which is
to say very poor and very hungry and very defeated.
mircea_popescu: mike_c narrowing
the bid/ask spread is
the fucking point of life on earth.
mike_c: your hypothesis is
that narrowing
the bid/ask spread will drastically increase volume?
mircea_popescu: topace_ i suspect it's some refund of something or
the other.
topace__: [MPEX] [S.DICE] [PAID] 41.96250000 BTC
to 50`000`000 shares, 83 satoshi per share
mircea_popescu: that's what you do.
then if you do
that
the exchange you're active on grows and bitcoin generally grows
too
mircea_popescu: your job is
to provide liquidity both ways and close
the zero-infinity window asap.
mircea_popescu: and your job isn't
to sit and bohoo over
the misteries of price
mircea_popescu: your job isn't
to sit and worry about what if
these are
the last five shares and we gotta make
them last
the winter
ThickAsThieves: which means we dont know what
the "fair" price is at all
peterl: that just means
the bids are not high enough
to attract
the sellers
peterl: put up bids on mpex up
to where people are buying from you on
the other exchanges
mircea_popescu: ThickAsThieves
there's millions of shares in warrants at 1.x ish
peterl: isn't
that how
these exchanges work?
peterl: If you raise
the MPEx price enough,
then people will add asks
assbot: [MPEX] [S.DICE] [PAID] 41.96250000 BTC
to 50`000`000 shares, 83 satoshi per share
peterl: but
the issuer can just go buy more shares from MPEx and undercut your flip,
then you are stuck with overpriced shares
dub: wait for bids
to build and sell into
them
ThickAsThieves: would be
to buy up all of
the only 5% marked up shares
ThickAsThieves: i'm not arguing against your logic as a position, but I do want
to ask more questions
mircea_popescu: options are simple : broaden
the base or
try and skim as much as possible.
mircea_popescu: you are aware about what volume it
traded on ipo right ?
mircea_popescu: rather
than
try
to make .5 btc as 50% of a bitcoin,
the idea of economy, growth and generally progress is
to make virtually nothing at all over cvasi infinite volume
mircea_popescu: obviously
the market will route around
this sort of nonsense.
assbot: [MPEX] [S.DICE] [PAID] 2,187.50000000 BTC
to 50`000`000 shares, 4375 satoshi per share
mircea_popescu: this position is unwarranted, and an inclination
to assume it marks you as one of
those
that have
to be kept away from it all.
mircea_popescu: if you sell for
twice
the price basically you've fancied yourself a sort of blessed prince of bitcoin who
taxes 50% of capital
assbot: [MPEX] [S.DICE] [PAID] 2,187.50000000 BTC
to 50`000`000 shares, 4375 satoshi per share
mircea_popescu: ThickAsThieves
this is all very primitive, but let's go into it.
assbot: [MPEX] [S.DICE] [PAID] 2,187.50000000 BTC
to 50`000`000 shares, 4375 satoshi per share
ThickAsThieves: how do markets stop people from overpaying and how does
that relate
to underselling?
assbot: [MPEX] [S.DICE] [PAID] 2,187.50000000 BTC
to 50`000`000 shares, 4375 satoshi per share
mircea_popescu: markets exist
to allocate capital not
to cause friction
mircea_popescu: ThickAsThieves
the moment you're factoring in "Scarcity" you've fucked up.
assbot: [MPEX] [S.DICE] [PAID] 4,375.00000000 BTC
to 50`000`000 shares, 8750 satoshi per share
ThickAsThieves: I own more
tan have been sold, but I am
trying
to stay stocked
assbot: [MPEX] [S.DICE] [PAID] 4,375.00000000 BTC
to 50`000`000 shares, 8750 satoshi per share
peterl: and why are you starting selling shares at .25 mB instead of closer
to .18 mB current MPEx price?
assbot: [MPEX] [S.DICE] [PAID] 4,375.00000000 BTC
to 50`000`000 shares, 8750 satoshi per share
enclosurefrednom: tat, do you actually own
the shares you passthrough or do you sometimes create some out of
thin air? ;)
pigeons: for 5% issue as many as
they'll
take, you can buy up later if necessary for some reason
assbot: [MPEX] [S.DICE] [PAID] 4,375.00000000 BTC
to 50`000`000 shares, 8750 satoshi per share
assbot: [MPEX] [S.DICE] [PAID] 4,375.00000000 BTC
to 50`000`000 shares, 8750 satoshi per share
ThickAsThieves: not sure where
to draw
the line between being a good steward and leaving money on
the
table
assbot: [MPEX] [S.DICE] [PAID] 4,375.00000000 BTC
to 50`000`000 shares, 8750 satoshi per share
Namworld: No,
TAT is just going
to sell
them for 10x
the MPEx price because people are just crazy like
that.
ThickAsThieves: they get eaten up
too, and i have
to be careful with deposit delays
Vbs: ThickAsThieves: hostile
takeover?
TAT's MINIGAME now? xD
assbot: [MPEX] [S.DICE] [PAID] 4,375.00000000 BTC
to 50`000`000 shares, 8750 satoshi per share
peterl: TAT are you going
to arbitrage
the shares
to keep
them in line with
the mpex ones?
assbot: [MPEX] [S.DICE] [PAID] 4,375.00000000 BTC
to 50`000`000 shares, 8750 satoshi per share
mircea_popescu: pigeons is
there a
trollbox in
this bitcointernet
that you don't keep
tabs on ?
pigeons: ah, i found where
the money will end up, from
the just-dice
trollbox: <Dabs> Dabs Insane Gambling Security = 1% per day, 7% per week. NOT A PONZI. it's a GAMBLE!
Namworld: Every bet is a winner! Look at all
that money!
assbot: [MPEX] [S.DICE] [PAID] 8,750.00000000 BTC
to 50`000`000 shares, 17500 satoshi per share
assbot: [MPEX] [S.DICE] [PAID] 8,750.00000000 BTC
to 50`000`000 shares, 17500 satoshi per share
assbot: [MPEX] [S.DICE] [PAID] 8,750.00000000 BTC
to 50`000`000 shares, 17500 satoshi per share
pigeons: tell dooglus
to up
the max bets
assbot: [MPEX] [S.DICE] [PAID] 8,750.00000000 BTC
to 50`000`000 shares, 17500 satoshi per share
assbot: [MPEX] [S.DICE] [PAID] 8,750.00000000 BTC
to 50`000`000 shares, 17500 satoshi per share
assbot: [MPEX] [S.DICE] [PAID] 8,750.00000000 BTC
to 50`000`000 shares, 17500 satoshi per share
assbot: [MPEX] [S.DICE] [PAID] 8,750.00000000 BTC
to 50`000`000 shares, 17500 satoshi per share
Vbs: mircea_popescu: Litecoin-Advanced
Task Force. Bravo 2 attack squad
assbot: [MPEX] [S.DICE] [PAID] 8,750.00000000 BTC
to 50`000`000 shares, 17500 satoshi per share
peterl: one of
those daily payout no payoff date bonds
Vbs: topace_: do it in 2000, as a last homage
to sdice
assbot: [MPEX] [S.DICE] [PAID] 8,750.00000000 BTC
to 50`000`000 shares, 17500 satoshi per share
assbot: [MPEX] [S.DICE] [PAID] 8,750.00000000 BTC
to 50`000`000 shares, 17500 satoshi per share
topace__: maybe ill do it in 200 batches, just
to be safe