929700+ entries in 0.666s
mircea_popescu: it certainly possible
to build a ltc/btc futures market.
cads: mircea_popescu: I believe
that what a student can do greatly increases even by having a
teacher
that says 'it is possible'. Moral support means philosophical and encouragement. It would mean a great deal
to have whatever positive, constructive input you wish
to provide. When we provide others with moral support, we do it only so far as it helps our reputation or internal sense of gratification at having helped someone.
mircea_popescu: (people, being donkeys, know better, so
they continue getting owned a la coinbase)
mircea_popescu: these are well documented on
trilema, and i'm pushing people
to adopt
them
cads: Also, as I intend
to publicly document each step of
the process, and
then release
the result for free
to whoever wishes
to provide starting reserve capital, I understand I will get ridiculed
mircea_popescu: there's parts about mpex
that are very open, such as for instance
the use of gpg
to protect orderflow
mircea_popescu: if you
think about it,
this is proprietary sowftware which constitutes
the main
tangible asset of a corp mkt-valued at about a hundred million dollars.
MJR_: i was just drawing a parallel
to
the scripting aspect of bitcoin
transactions
cads: eventually when I can model arbitrary contracts,
they will be implemented as a non-turing complete contract-composition syntax
cads: in fact, I
think I'm happy with your proposed offering of whatever I can pick up in here.
cads: This is all. I do not expect more
than an hour each week of interspersed conversation. About as much as we've
talked already, in fact.
cads: mircea_popescu: aside from moral support and guidance, I will ask questions about how
the mpex was implemented.
cads: mircea_popescu: I am a mathematician, not a coder, so I don't expect
this project
to succeed without some serious help. I have
the whole #haskell community. I have 5 years of haskell. I can use ruby, python, php etc for frontend. I will rework my ideas on attribution and profit share (it may be best
to arrange
that I profit financially from a successful completion). Will
this be a project you can provide moral support
to?
gribble: There are currently 17923.011 bitcoins offered at or under 149.0 USD, worth 2583454.10924 USD in
total. | Data vintage: 82.4161 seconds
gribble: There are currently 2698.3713 bitcoins demanded at or over 135.0 USD, worth 365396.597563 USD in
total. | Data vintage: 13.2939 seconds
cads: only languages
that are harder
to use
than haskell offer
this feature. Language such as Agda II, Cayenne, bitc, or Coq.
gribble: There are currently 1842.3181 bitcoins offered at or under 139.94 USD, worth 256753.041292 USD in
total. | Data vintage: 0.0014 seconds
gribble: BTCUSD
ticker | Best bid: 138.47700, Best ask: 138.50000, Bid-ask spread: 0.02300, Last
trade: 138.50000, 24 hour volume: 68834.52654232, 24 hour low: 128.00100, 24 hour high: 142.12000, 24 hour vwap: 135.21438
cads: Speculatively, haskell provides a direct path for producing code
that is verified mathematically correct
cads: Scrat: I agree writing
the code in haskell would make
the software obscure. However I know a number of derivatives design and valuation packages
that run in haskell. Haskell has great support for financial contracts.
mircea_popescu: and put a plain warning in
the about file,
this is what
this is.
mircea_popescu: so
the most reasonable
thing
to do is set a clear sum of your own pocket aside as guarantee (10 btc, .5 btc, w/e)
MJR_: someone was
trying
to port bitcoin-qt
to haskell
cads: "free work", of course, is not work I do for free, but work I do
to increase my public reputation in ways beyond what normal allowances of authority would give.
Scrat: cads: haskell would be a bad idea. only a few people in
the world would be able
to read it
cads: mircea_popescu:
this is part of what I consider my "free work". Some people do a finance internship. I will build an exchange.
mircea_popescu: ThickAsThieves yes,
that, plus, you can't sanely rely on
the end result working.
cads: I in
turn have some wonky ideas. I want
to build
the core engine in haskell. I want
to release
the software for free. I'd like
to help run
the exchange, but I do not wish
to be paid for it.
ThickAsThieves: i
think mp is saying you dont have
to ask
to ask, and he doesnt have
to answer
mircea_popescu: in general
this "i shall put
together found items in
the hope of constructing something of value" works fine if what you're doing is art projects in highschool.
mircea_popescu: finance consulting is finance consulting, more expensive
than hiring a lawyer,
cads: mircea_popescu: barring any formal mentorship/student relationship, I would like at least
to ask you basic questions over
the next few months.
KRS1: yeah
the link..i really can't explain it..i had
to wait for Paul
to get out, he
told me about it..sucked..he did
time.
mircea_popescu: well, whatever you get away with leeching in public chan
then i guess.
cads: mircea_popescu: I would not be able
to pay you for your
time. I would want
to
talk
to you about high level architecture and implementation details.
KRS1: it was a big fiasco and admittedly exciting back
then
KRS1: the
thing is..his company was getting DDoS'd and he was hitting
them back, but 10X harder
KRS1: noooo he went
to prison..
KRS1: so
they paid him a visit..
KRS1: mircea popescu: yeah
there was a lot of publicity on
that..I'm good friends with
the guy who caused it..it seems homeland security was on
the same network he was killing for 3 weeks
cads: No, I intend
to do all
the research and coding myself - API + engine.
The web front end will be done by friends.
cads: mircea_popescu: Is
that
the kind of project
that you would be interested in mentoring?
cads: mircea_popescu:
this summer I will work
towards implementing a marketplace for BTC <-> LTC futures.
saulimus: Bugpowder, yes, at
those prices
they bid at.
mircea_popescu: so it wasn't gox doing it, it's not related
to
the dollars on
the exhange, running out of
theories here.
Scrat: who
the fuck is mpoe-pr, isn't
that you?
mircea_popescu: Scrat i bet
the forum will be full of people saying "thank you mpoe-pr for warning us not
to
trust
these muppets a month ago"
KRS1: they should just give me
the 30 btc instead of buying namecoins, at least i'll
talk dirty
to
them or something
Scrat: [14:22] <sydna> 229BTC worth of a drug called ""AVALANCHE SPA POWDER"" - ie.
the kind of quantity
the feds might be interested in.
KRS1: lol someones about
to buy 3900 namecoins for 30 btc
KRS1: reminds me of back in
the day with foonet mafia..its been a while.
KRS1: or
their customers are just not big enough??
joeykrim: KRS1, i
think you might only see
that in one specific region until
they re-route
to another region
KRS1: yet when it gets
too bad, it goes
to
their "offline" page
Scrat: they MITM all your
traffic
Scrat: KRS1
they actually do and it's great value for price, but not very secure
KRS1: im not sure cloudflare KNOWS how
to protect against dos,
they just seem
to put up a maint page if it gets
too bad
KRS1337: people are lemmings for
the most part
KRS1337: yes- limit order
that is what i meant about my sell order not going
through- market price is lower
than my selling price at
that moment, but my view
to
the actual market price is obscure
gribble: MtGox lag is 1.238126 seconds. During
this
time, light
travels 0.00248119064125 AU. You could have sent a bitcoin across
the outer diameter of Saturn's rings (0.0024 AU).
gribble: BTCUSD
ticker | Best bid: 137.50000, Best ask: 137.99900, Bid-ask spread: 0.49900, Last
trade: 137.99999, 24 hour volume: 69290.11482755, 24 hour low: 128.00100, 24 hour high: 142.12000, 24 hour vwap: 135.16736
gribble: MtGox lag is 15.922054 seconds. During
this
time, light
travels 0.0319076179438 AU. You could have sent a bitcoin
ten
times between Earth and Moon (0.0257 AU).
bgupta: umm it means
that you need
to read what
the difference is between a market order and a limit order
KRS1337: if I want
to sell btc but gox is lagging really bad does
that mean i get a really bad market price or my sell orders might not go
through?
gribble: There are currently 31113948 bitcoins demanded at or over 0.0 USD, worth 11041719.7415 USD in
total. | Data vintage: 0.0106 seconds
gribble: BTCUSD
ticker | Best bid: 136.50000, Best ask: 136.99899, Bid-ask spread: 0.49899, Last
trade: 136.50000, 24 hour volume: 69060.31474902, 24 hour low: 128.00100, 24 hour high: 142.12000, 24 hour vwap: 135.14890
gribble: MtGox lag is 0.702306 seconds. During
this
time, light
travels 0.00140741336059 AU. You could have sent a bitcoin across
the outer diameter of Saturn's rings (0.0024 AU).
gribble: BTCUSD
ticker | Best bid: 136.56113, Best ask: 136.90000, Bid-ask spread: 0.33887, Last
trade: 136.90000, 24 hour volume: 68876.63929509, 24 hour low: 128.00100, 24 hour high: 142.12000, 24 hour vwap: 135.14460
mircea_popescu: at
the
time i'm saying
this about ltc, 1. ltc is a copy of btc with no actual advantage and 2. i'm not ignorant.
mircea_popescu: at
the
time people were saying
that about btc 1. btc was unique and 2.
they were being ignorant.
KRS1337: maybe.. bgupta i
think about
that
bgupta: mircea_popescu: Arguably one could have said
the same about btc 3 years ago… IE: Many claimed btc was a big ponzi scheme
that created value out of nothing.. I'm not convinced but
there may be value in having more
than one cc.
mircea_popescu: pretty much
the one use of ltc
that i can see atm is
to play ponzi. do you see another ?
joeykrim: can i pm you
the address ive been using?
joeykrim: read
the faq, stay away from bad bets, something i would bet on
joeykrim: wanted
to refine my approach
to help save us both
time and put in better bet suggestions hah
joeykrim: mircea_popescu,
talked last night with kakobrekla who recommended i ask you .. ive been putting in bets on bitbet.us and was wondering if you had any insight on why some get rejected?
bgupta: if ltc moves
to mtgox it will get some liquidity… can't say
that will neccesarily help
the price but it should be eaasier
than btc-e
KRS1337: ya
thats a good
thing..i have no long
term interest in ltc..just wanted
to
throw a buch down right quick but did not expect
this
bgupta: it's way more volitile
than btc at
the moment
bgupta: look at
the chart and relax