927100+ entries in 0.687s
benkay: automate all of
these
things
jurov: maybe next day if
they send it in
the morning
jurov: but still, interbank
transfer, 1 day
jurov: it's
traditional
thing. around here it is better, everything done electronically, in some banks you can send money using internet instantly anytime
to other account in same bank
benkay: also you're like a gangster or something
terrifying
benkay: i'm not exactly including you in
the idiot bucket
benkay: mircea_popescu you built a 50m fiat-valued company in less
than3 years
gribble: There are currently 46992.924 bitcoins offered at or under 999999999.0 USD, worth 3025256372.08 USD in
total. | Data vintage: 78.1869 seconds
benkay: i actually like
team dynamics, which makes me a weird nerd.
ThickAsThieves: all i'm saying is banks never really caught up with
tech
benkay: i have seen
the damage
that non
technical managers can wreak on a
team
mircea_popescu: <benkay> nobody seems
to understand
that 2 nerds and 50k of server equipment will
trash your competitors, if properly managed << i understand lol.
benkay: and i get
that, but at
the same
time i break
things all day every day
benkay: nobody seems
to understand
that 2 nerds and 50k of server equipment will
trash your competitors, if properly managed
jurov: it's not like credit cards where you can;t legally compete with
them
mircea_popescu: what
the fuck!?! use hashes for
transmitting and saving passwords!!!!"
jurov: if
they ask huge fees, street competition would spring immediately
benkay: there is zero cost
to it
jurov: banks need
to figure out how
to do it profitably
lippoper: but yeah, it would be nice if we could exchange money
there for fiat
lippoper: we're
trying
to be decentralized
benkay: banks should
take over exchange biz in
the US.
gribble: BTCUSD
ticker | Best bid: 180.28900, Best ask: 186.10000, Bid-ask spread: 5.81100, Last
trade: 186.10000, 24 hour volume: 100099.75681545, 24 hour low: 155.00000, 24 hour high: 194.90000, 24 hour vwap: 176.22978
benkay: the actual important part of
the ecosystem
benkay: yeah mircea_popescu distract yourself from
the exchange
ThickAsThieves: so MP, instead of losing XX,XXX btc on options due
to being Gox'd,
tighten
the algo, and use
the money
to show em how its done
gribble: krs1 was last seen in #bitcoin-assets 1 day, 2 hours, 5 minutes, and 15 seconds ago: <KRS1>
then unF unF unF all night long buttsecks
lippoper: can't i just sell bitcoins
to wells fargo?
benkay: someone should fix
that.
benkay: it will attract
the dumbest players
benkay: it's
the worst business
ThickAsThieves: if majority market
traffic moves
to bitinstant,
then
they have same incentive
to deceive
ThickAsThieves: not saying
they are
trustworthy, so much as, is anyone?
ThickAsThieves: is anyone really any more
trustworthy
than Gox
though?
MJR_: note
to self: super hero cartoon
tv show based on greek options symbols
ThickAsThieves: i guess
they dont even need
to be using fake btc
to manipulate price at
this point
MJR_: guys...are you watching
the price? we are climbing back up right now
benkay: you flatter me, and
that
triggers alarm bells.
ThickAsThieves: if you are right, isnt
this
the equivalent of a draining hot wallet
MJR_: benkay:
there is a lot
to
talk shit about...mircea calls a spade a spade...better
to fix it
than
to be polite
to it
benkay: and
there are giant scads of idiots in
the world.
benkay: idiots have a problem with
this. confusing real
things for
the symbols.
benkay: world has problem with
this
benkay: symbols over real
things
MJR_: fighting over a conch (is
that
the foundation, gavin, luke jr etc?)
MJR_: look around...they are chasing piggy over
there...scared of some monster
benkay: mircea_popescu does spend a disturbingly large amount of
time
talking shit, yes MJR
MJR_: bitcoin can get a little
too "lord of
the flies" huh?
benkay: i just want
to work with grownups
benkay: how does one
trip and fall into a ponzi scheme?
mircea_popescu: if anyone's curious, i'm adding gox
to
the suspected scam list.
gribble: MtGox lag is 143.77873 seconds. During
this
time, light
travels 0.288130965093 AU. You could have sent a bitcoin approximately
the distance covered by Voyager 1 in one month (0.2988 AU).
lippoper: and 2 an investor
type, who hoards it
to sell later.
benkay: everyone who wants
to preserve capital
lippoper: 1
that is a consumer, actually exchanging USD
to BTC
to use it.
lippoper: there are 2
types of buyers at least
benkay: it literally does not matter at which price we put accrued value into
the lockbox
benkay: us "buyers" need a decent place
to store value
lippoper: at
this rate, in another month, it'll be $500
ThickAsThieves: if you
think about, you can call sellers and buyers idiots
pgp: It is also
true
that much of
the liquidity dynamics has
to do with mt gox back office operations....
Skarr: ThickAsThieves - I'd agree fully your
theory is what kick-started
the run/sell-off.
pgp: it is startling
to see how quickly it's moving up... $500 ain't so far away anymore...
Skarr: I'm guessing we now have our range, 172-194. And we'll see a symmetric wedge develop within
that, centered around
the 183 price point, while another day of consolidation around
this new price point occurs.
Then
the next leg-up.
benkay: i'm just expressing disbelief at
the sheer volume of idiots in
the world
pgp: disruptive fintech... i like
the sound of
that
benkay: yeah but who cares about
the past
three months
ThickAsThieves: well, for
the past 3 months, its remained quite
true
that waiting
to sell is prudent, no?
benkay: how is it prudent for someone
to sell
these notionally-valued strings?
ThickAsThieves: let bids build back up
to 185 or so,
then sell off again
ThickAsThieves: only reason it wouldnt dip
that low is if sellers hold out and cause a nother dip later
ThickAsThieves: so i
think what we're seeing is, an initial run up from lack of coins on
the market over
the weekend,
then everyone scrambling
to get coins into gox
this morning,
then selling
taub: but
the ratio of all btc offered / usd offered went from 299
to 240 during
this dip
gribble: The weighted average price of BTC, 1.0 coins up and down from
the spread, is 177.00000 USD. | Data vintage: 60.2608 seconds
taub: yea lol
that doesnt mean aynthing
gribble: The weighted average price of BTC, 6.0 coins up and down from
the spread, is 176.99167 USD. | Data vintage: 42.9386 seconds
gribble: The weighted average price of BTC, 45919.0 coins up and down from
the spread, is 596185.33923 USD. | Data vintage: 22.1521 seconds
gribble: There are currently 45919.694 bitcoins offered at or under 99999999999.0 USD, worth 124134955395.0 USD in
total. | Data vintage: 14.5671 seconds
gribble: Error:
The width provided extends past
the edge of
the order book. Please use a smaller width.