897800+ entries in 0.671s
Bugpowder: lot of development has
taken place recently
fiat500: Bugpowder: how much nmc does it cost
to reg 1 domain
jurov: lol "butbutbut i don't want
to know if it's feasible. i want
to know if it will be good or bad for bitcoin economy"
gribble: BTCUSD
ticker | Best bid: 128.32110, Best ask: 128.39900, Bid-ask spread: 0.07790, Last
trade: 128.39900, 24 hour volume: 52513.02056830, 24 hour low: 124.00000, 24 hour high: 132.49500, 24 hour vwap: 127.73099
jurov: consider yourself successful, i commented
there
jurov: i suspect it's some paper gold scammer
that wants
to extend his operations
mircea_popescu: "i want
to own some bitcoins but i don't want
to be bothered"
ThickAsThieves: and i do
think if it were listed on wall st people would buy it
mircea_popescu: somehow
the idea
that
their skills + a little work + a little honesty would actually yield something worthwhile playing honestly is beyond
their grasp.
jurov: ThickAsThieves: i am selling my 100btc perpetual position, but you cannot exchange it
to real bitcoins
mircea_popescu: basically, all
the scammers in
the world are
trying
to use bitcoin
these days. it's like holy water.
ThickAsThieves: i
think
the poster is just selling his own bitcoin position as shares
jurov: if it can;'t be arbed,
then it is *useless* as any spot price indicator.
jurov: you have
to buy back at mkt price, rendering whiole arb pointless
jurov: you want bitcoins now, but you can't 1:1 exchange
them
jurov: okay, so market goes in ine direction for a long
time, and you and up by bitcoin position depleted
mircea_popescu: the reason is
that being clueless, you lack
the mechanisms
that allow you
to distinguish bad ideas
gribble: MtGox lag is 0 seconds. During
this
time, light
travels 0.0 AU. You could have sent a bitcoin ... nowhere, really (0 AU).
jurov: how can you arb something
that isn't convertible in both directions?
mircea_popescu: honestly,
there's never going
to be an end of clueless people coming up with \what
they
think are bright ideas.
ThickAsThieves: the poster also sees at as something
that would help set spot price
jurov: without means
to arb it
jurov: then
there can be potentially a big spread between it and, say, mtgox
jurov: then what is
the point? create a new kind of fiat, but backed by bitcoins?
jurov: ie people will exchange
the shares into real bitcoins
jurov: if
that asset will be convertible
to bitcoins, it will end up like gold
ThickAsThieves: Chinese hackers just get
their paws on everything
these days
thestringpuller: I know he's probably had
that baby but it's crunching me a bit, wanted
to be able
to leverage a few
things with
those.
topace: trade announcing has now been disabled, sorry forgot about
that :p
topace: ThickAsThieves:
those were erroneous
trades announced. it came from our dev site from
the new
tradign engine
testing we're doing
fiat500: but
this isnt new either, happened a few days ago
fiat500: its not
the liberty dollar
usagi: i reccomend we go
to yellow alert.
gribble: BTCUSD
ticker | Best bid: 127.20001, Best ask: 127.59000, Bid-ask spread: 0.38999, Last
trade: 127.80000, 24 hour volume: 51221.49073322, 24 hour low: 124.00000, 24 hour high: 135.00000, 24 hour vwap: 128.34709
fiat500: mircea_popescu: isnt
that mr bean's daughter
mircea_popescu: 122,000 new medical diagnostic codes doctors will have
to use in order
to inform
the government about injuries sustained by Americans.
Those codes, said Sen. Paul, a medical doctor himself, include line-items for 'injuries sustained from a
turtle,' 'walking into a lamppost' and 'injuries sustained from burning water skis.'
mjr_: so how many of
the
http's did
the internet foundation hold back for
themselves?
KRS-1: oh god..lol
that really happens
mjr_: oh wait, i could have done
thta with bitcoin except had more options on how
to cash out
mjr_: if i want cash i can actually spend somewhere, i have
to get cash in bitstamp and have
them wire it
to my bank account
KRS-1: Mmm! Hot
Topic girls.
KRS-1: mjr_ you just said it best. "people make
things way
too complicated"
mjr_: people make
things way
too complicated
mircea_popescu: i
think
the parasitism angle is probably
the best description.
mjr_: that is
the point, where do i go
to pick up my cash
KRS-1: a bitcoin exchange centralizes
the model, while ripple keeps it decentralized
KRS-1: well no..im seeing more
to
this
mjr_: is all
they are offering
KRS-1: then wtf were
the folks at ripple doing
KRS-1: i did not know
that
KRS-1: oh wow
then
that is really cool.
mjr_: anything
that a ripple
trusted gateway can do, a bitcoin exchange can also do
mjr_: they have no magic compliance behind
them
mjr_: "fully compliant
trusted gateways"
mjr_: btc already does everything ripple does, and people haven't even implemented all
the features it does have
KRS-1: From what I am seeing come
two
things 1) Either XRP/Ripple is way before its
time or 2) BTC did not have enough features/attributes built-in.
mjr_: let me guess
the pitch starts with "its like <successful internet company> but with bitcoins!"
mjr_: Looking for a web developer interested in a new project #bitcoin related. Get in
touch big opportunities #webdeveloper
mircea_popescu: KRS-1
there's no appreciable need for it per se, but it's novel enough
that it may be one of
those where
the need arises after
the fact.
KRS-1: that
to me says its poppycock
mjr_: my favorite point
that shows people how stupid ripple is, is
that more
than 75% (by my estimation) of
transactions
thus far have waited for 1 or less confirmations
KRS-1: but is
there a need for
this? as maybe a broker between cyber currency and everything else? credit? fiat?
mircea_popescu: that'd possibly have common points with open
transactions
mjr_: i
think erik's
talk on
the moneyness of bitcoin is one of
the best
things written about it
KRS-1: It doesnt seem
that ripple has much going for it
these days. What else is
there
to a model outside of cyber currency besides XRP?
mircea_popescu: also in
that nobody cares, in
that execution is appaling, in
that
their resources are insufficient etc.
mircea_popescu: mjr_ in
that debt is not fungible, in
that liquidity is not free, in
that information is never symmetrical and in
that closed models don't work fopr
that application
damientrog: Josh will sooner will be degutted with a machette
than
that working out
mjr_: anyway, i
think ripple is fundamentally flawed in
that debt is not fungible