921200+ entries in 0.644s
unbalanced_: I just wanted MPEX
to be more popular, but I get now
that a)
that
unbalanced_: mircea_popescu: I concede. It's rude of me
to walk into your house and criticize your wallpaper and
the art on
the walls.
jcpham: it isn't stolen until
the blockchain says fuck you
jcpham: anyway
to "steal
them"
mircea_popescu: ezdiy you know,
there have been 10k btc single orders on mpex.
jcpham: seems like
the funds would stay internal
mircea_popescu: this is
true, mpex margin is quite different from most loan ops.
ezdiy: mircea_popescu:
true, in case of 1KBTC i'd have my own doubts regarding your put-call parity :)
Bugpowder: mircea_popescu's margin loans are very different
than most BTC loans
though, in
that it is an accounting
that is kept on servers he controls.
Thus,
the receiver has little opportunity
to steal
the coins and walk. If you loan coins and
that hits
the receiver's personal wallet.dat, you are just praying
they come back.
jcpham: i can understand
the referece
ezdiy: mircea_popescu:
then hes
trusted?
jcpham: or is
the bitcoin community africa?
jcpham: did you just call
the internet africa?
mircea_popescu: if you open one in manhattan nobody's going
to bother.
mircea_popescu: consider
the situation of a supermarket. if you open one in africa you will have a bunch of shoplifters.
mircea_popescu: jcpham if you only deal with peopel who understand
the value of reputation you're more likely
to survive for sure.
ezdiy: mircea_popescu: so let me get
this straight
jcpham: i bet vetting people with a large fee
to play has been successful
ezdiy: look at mtgox compared
to mpex
ezdiy: white
trash means liquidity
jcpham: probably becuase your elitist attitude keeps away
the
trash?
mircea_popescu: jcpham you know for
the record i've not yet had problems with margined ppl.
jcpham: don't loan your coins
though for btc-only
jcpham: everyone is living in walled castles at
this point
ezdiy: well, apparently past reputation guarantees future reputation according
to mircea_popescu
jcpham: the people
that borrow btc
time and
time again fail
to repay
ezdiy: in here because
there is no other way
ezdiy: basically margin
trading is loans
mircea_popescu: go get in
the wot, spend a year or more making sense,
trade many many
thousands of btc on mpex
mircea_popescu: clueless internet warriors who have definitive answers
to
things
they read on wikipedia. i don't want
to empower you folks.
mircea_popescu: ezdiy no, it's designed specifically
to keep people like you out actually.
ezdiy: just enough liquidity
to have working margin calls
ezdiy: either way, you dont need
trust
to margin
trade
mircea_popescu: pgp people like coinsetter are part of a lengthy
tradition of dunning-kruger.
the controlling example is one kludge, an out of work bank clerk who figured himself a banker
ezdiy: due
to enormous slippage
ezdiy: mircea_popescu: does not sound
too open
pgp: as well as acting as a broker
to public
mircea_popescu: <ezdiy> how do i margin
trade on mpex? << you apply for it.
ezdiy: though i
think bucket shops are legit in .ro so no issue here
mircea_popescu: that piece looks like it cost a hundred bux. im not quite into giving obscure venues money for
this "service" yet.
mircea_popescu: unbalanced_ well... so silicon angle doesn't do research. i had no idea
they existed.
taub: I
thought
this was about coinsetter ;)
jcpham: but mebbe
thasa goos
thing
taub: is
that what coinsetter wants
to do?
jcpham: i kinda
think if your position is large enough (on margin) and coinsetter can
take advantage of it, it will
ezdiy: taub: bucket shop means youre using spot price of different exchange
than your own
taub: real
trading runs on margin as well and isn't a bucketshop
pgp: margin goes for 10x
that on bitfinex
pgp: but I'm not sure how
they'll get around usuary laws in US...
ezdiy: in favor of
their option bets :)
ezdiy: people will
try
to manipulate price on mtgox
ezdiy: some people
think bucket shops are bad because it has no impact on actual market
pgp: coinsetter puts out all
these press relesses about margin lending, which by
the way, isn't rocket science...
ezdiy: thats
totally not
transparent
pgp: the
thing about
the higher progile companies in america is
that
they need
to be mindful of likely regulation.
ezdiy: IF youre
transparent
jcpham: wouldn't
that be
the most profitable enterprise?
jcpham: especially with
the margin
trading
jcpham: how will it not just
turn into a bucket shop
ezdiy: and some new ones will have
to be invented
pgp: a lot of
talk from coinsetter
ezdiy: in
the long run, i
think
traditional forex instruments are not really aplicable
to bitcoin
ezdiy: taub: anyone except
the exchange should issue options i
think :)
ezdiy: as long
they have capital
to back it
taub: thats why mp has
to set option prices so high
unbalanced_: I just want
to broaden
the base of MPEX users, I don't mean
to be
trollin'.
ezdiy: how do i margin
trade on mpex?
unbalanced_: Meanwhile I
think we'd all benefit from more liquidity and participants in MPEX.
unbalanced_: Coinsetter may never pull it off,
they could be full of fail.
ezdiy: margin, on
the other hand is super hard
unbalanced_: "The New-York based startup seeks
to bring
to market advanced
trading options
that don’t exist in
the current BTC market."
mircea_popescu: the barrier
to entry however is a lot higher
than getting a bunch of people
talking.
mircea_popescu: anyway, unbalanced_, people (like for instance MtGox) were discussing plans
to
trade options on bitcoins back
this
time in 2011, and mpex wasn't even mentioned.
pgp: overtime, bticoin will get some of
the money
that people would otherwise invest in gold...
unbalanced_: I hate seeing
these articles now where people are discussing plans for
trading options on bitcoin and MPEX isn't even mentioned.
That's all I'm getting at, let's get
them
to notice what you've built here.
Bugpowder: It's revenue stream is very very
top heavy
unbalanced_: As a motivated options
trader actively looking for a solution
to
trade options on Bitcoin, it
took me about a year and umpteen visits
to mpex.co
to grok it and get over
the 1995 layout and
titties and harsh attitude.
Bugpowder: Oh look a whale is betting again with a big address = positive clinical
trial result
mircea_popescu: Bugpowder i
think perhaps you have a good point
there, it does move like a biotech
pgp: the public should be going
to coinbr - not MPEX
unbalanced_: Anywhoo, I'm saying I agree
that MPEX is
the biggest and
the best game in
town. I'd like more people
to know about it and I
think
the site is not just unattractive, it prevents people from
taking it seriously.