922200+ entries in 0.61s
mircea_popescu: you
tell me out of 10k banks
there's not a single one you can partner with ?
that seems improbable.
mircea_popescu: there's what, 150 countries in
this world. each has at least five banks.
mircea_popescu: i really
think
the best way
to go is partner with licensed institutions rather
than
try and do bermudadollars or w/e
pgp: any opinion on best foreign jurisdictions for
this sort of activity?
mircea_popescu: if you are already running an exchange you'd better have
the paperwork in order already, in which case...
pgp: I wouldn't want
to
try it in
the US...
mircea_popescu: but
then again, i participate in 20+ discussions a day, all end with "yes,
this is yet another niche, just need
the people with a clue
to do it"
mircea_popescu: pgp
the idea is for someone who has
the ability
to make fiat settlements
to run
the future.
pgp: seems
to me like you've created something
that will evade regulation for a long
time because it's strickly BTC
pgp: are you prepared
to deal with fiat?
mircea_popescu: so it's pretty much limited
to
the exchanges. few actuallty have
the sense
to know wtf
this all is so...
pgp: except
that means dealing with fiat
mircea_popescu: so
there must be someone with
the ability
to make deliveries.
mircea_popescu: ah. yeah, i've been
talking
to people. i will list futures, but i will only list physically settled.
mircea_popescu: currently everyone is play-pretending
this "unlimited
theoretical liability" angle. it's just not workable in any practical way.
mircea_popescu: there's a reason llc companies irl list
their capital.
mircea_popescu: more generally
the limited capital and orderly folding is a very important concept
that i've been discussing with other people looking
to make financial instruments in
thsi chan
mircea_popescu: fold orderly, you've contributed no market instability and in fact an orderly folding is better for one's reputation
than continued success.
mircea_popescu: this is much better
than exchange-level implementation because it's so much easier
to limit
things.
throw 1k btc at
this project see how long it
takes you
to lose it all.
mircea_popescu: yes, i was about
to say : a simple way
to
test rbh specifically is
to just open a brokerage offering rbh-based leverage
to customers.
pgp: mp: i don't
think
that you really have
to do much more
than you already are... your focus on security and availability is what makes MPEX attractive
mircea_popescu: (and
the people who really need
the instrument, ie miners, are much
too financially clueless)
mircea_popescu: the
thing is, most of
this is yet immature.
take
the idiff futures as a great example. it will be a great instrument down
the road buyt for now
the underlying is just
too nonsensical.
mircea_popescu: truth of
the matter is
there;'s plenty of room
to get mpex stuff packaged as a sellable vehicvle. both equities and derivatives (diff, fiat, etc)
pgp: been
thinking a lot about
that lately
pgp: and
third party platform support
to make
the options less arcane...
pgp: hmmm... I
think
that what you need is more brokers...
mircea_popescu: certainly
the idea is
to keep financial instruments as sophisticated as can be borne.
mircea_popescu: however, we don't have
the market
to support it yet is my estimation.
mircea_popescu: an upgrade
to a more ellaborate model (such as but not necessarily limited
to or equal with rbh) has been in
the plan since 2011.
pgp: mp: have yuo considered an RBH model for short calls, or do you see
the hassle as not being worth
the extra liquidity?
mircea_popescu: they just have
the advantage of not printing
this as mpoe bot does.
mircea_popescu: but
there's
tons of other issues. so i
think pretty m,uch everyotne's models are off
the charts,
mircea_popescu: just all
the wash
trading going on strictly for mtgox's desire
to keep on lieing about its market share should be enough of a problem
mircea_popescu: anyway, i
think
the financial
tier is well spooked by all
the insanity propagated at
the exchange
tier.
mircea_popescu: notably pretty much noboduy is goiong in
the midmarket either,
pgp: I understand... I am wonderering,
though, has anyone bought any of
these infinite vol options?
mircea_popescu: this on
top of
the usual consideration of just letting
things be.
mircea_popescu: as it'd be unfair
to bondholders (whether any harm comes
to
them from it or not)
mircea_popescu: can't make changes midmonth, especially as
they'd be
towards a reduction of premiums
mircea_popescu: in no case will
this be before
the end of
the month however.
pgp: mp: is
the bot ever gonna price puts below 1 ?
KRS1: is
trading open on mtgox?
gribble: BTCUSD
ticker | Best bid: 104.11100, Best ask: 104.70999, Bid-ask spread: 0.59899, Last
trade: 104.11100, 24 hour volume: 181576.37623180, 24 hour low: 85.50000, 24 hour high: 117.88999, 24 hour vwap: 102.05784
pgp: the bitcoin "symbol" on
the pants is priceless
KRS1: ill
tell you a joke in return :D
KRS1: might not be much
to you, but its a big deal
to me
KRS1: ill
take some free coins..im poor man just
tryin
to make it in
this world
gribble: BTCUSD
ticker | Best bid: 100.72001, Best ask: 101.33741, Bid-ask spread: 0.61740, Last
trade: 100.71001, 24 hour volume: 181415.51969588, 24 hour low: 85.50000, 24 hour high: 117.88999, 24 hour vwap: 102.31635
mircea_popescu: The French government announced
that starting
this week, ketchup will no longer be allowed in any school or university cafeteria
c1n0: "satoshi's miracle" 3 more before we have
to decalre him a saint
c1n0: almost had
to fake my death
c1n0: so glad we survived
that crisis
KRS1: not
that fox news and kudlow are
the standard or anything..just using
them as an example
c1n0: mircea is alive, fox news lied
to me
Namworld: Hmm, quite late it seems. ALready morning... I'll be on my way I
think.
Namworld: Albeit
the drop was much steeper, resulting in a large gap in prices, which might have helped
the rebound
mircea_popescu: but
to my eye
the rise and
the fall are pretty distinct
mircea_popescu: well in as much as
there's rebound oscialltions after yeah
Namworld: It mirrors
the 2011 almost perfectly, albeit on a different price scale
Namworld: oh, I've made another chart of prices compared
to
the 2011 bubble in it's last days
mircea_popescu: on
the other hand people like bitfloor indeed don't opr at least didn't protect
the walletr worth a shiot.
mircea_popescu: they've done about
the same
thing, been in business for about
the same interval etc.
Namworld: They know others were hacked but somehow don't protect
their wallet still, despite having more
than a fair warning
that's not something
to do.
Namworld: How many other platforms again and again, despite it occuring regularly, popped up with all funds on a hot wallet only
to get it all stolen?
Namworld: Well
they could. I see it more as a longstanding history of not getting hacked out of all users funds.
There was hacks but
they at least protect
their BTC wallet.
mircea_popescu: but
then again i guess people have
this
too big
to fail mentality going.
Namworld: Needs a better
trading platform but
trading elsewhere
than MtGox can be risky.
Namworld: That's kind of part of
the problem
gribble: BTCUSD
ticker | Best bid: 103.50000, Best ask: 104.99991, Bid-ask spread: 1.49991, Last
trade: 103.50000, 24 hour volume: 179212.74308339, 24 hour low: 85.50000, 24 hour high: 117.90000, 24 hour vwap: 103.55658
gribble: There are currently 11300.548 bitcoins demanded at or over 90.0 USD, worth 1071065.90632 USD in
total. | Data vintage: 0.0046 seconds
gribble: smickles was last seen in #bitcoin-assets 1 week, 2 days, 7 hours, 31 minutes, and 42 seconds ago: <smickles> a bitcoin atm could be
the easiest way
to send money
to a friend, each of you just goes
to an atm
gribble: MtGox lag is 21.636523 seconds. During
this
time, light
travels 0.0433593498374 AU. You could have sent a bitcoin
ten
times between Earth and Moon (0.0257 AU).
mod6: but... heh, who would want
to
trade gox?
gribble: There are currently 68666.837 bitcoins demanded at or over 60.0 USD, worth 5118822.40047 USD in
total. | Data vintage: 0.0057 seconds