930400+ entries in 0.618s
[\\\]: that's why you label
the milk containers piss
mircea_popescu: listen, keeping piss in milk containers in your fridge may not be specifically against
the rules of your lease
mircea_popescu: are you
trying
to cause a bitcoin-related successful prosecution ?
gribble: BTCUSD
ticker | Best bid: 133.40000, Best ask: 133.86743, Bid-ask spread: 0.46743, Last
trade: 133.86744, 24 hour volume: 124844.76506536, 24 hour low: 110.00000, 24 hour high: 142.12000, 24 hour vwap: 127.81081
mircea_popescu: you can do it until
they figure out what you're doing it for.
mircea_popescu: not even in russia will you be able
to suck
the value out of
their infrastructure quite so brazenly
mircea_popescu: you'll get shot down, specifically for
the "other loser" reason
pgp: mjr - wish I could join - have work
to do :-(
MJR_: so
they'd have one customer
MJR_: also...last point, if it existed i would be using it
today
pgp: you use
the existing network
MJR_: i'm going
to lunch with darren pgp
pgp: if your a bank, you don't need
to develop ATM
technology
deadweasely: do
the atms go both ways? cash for btc and btc for cash?
MJR_: at
the end of
the day, if you can't even handle data...please for
the love of god don't
try and
tackle hardware or supply chain management (looking at you BFL)
MJR_: yah, i
think he is
trying
to set up
the first
two atm's within
the next
two weeks..so we'll see
mircea_popescu: but once
the frenchies did get it... it's clearly just op incompetence.
MJR_: if
they can manage
to stem
the flow of p0eople sick of doing business
there...build a decent matching engine...then
they can hope
to develop atm
technology lol
mircea_popescu: i had originally
thought
there's under
the
table conventions preventing such a
thing, even if not visible above board
pgp: i believe
there is already a bank in france
that lets people maintain BTC balances... yes?
MJR_: there is his site if you want
to look yourself
pgp: if gox got a banking license,
they could issue debit cards
that could be used at every atm in
the world -
that you be a problem for bitcoin ATM
MJR_: so whether
THEY succeed or fail does not speak
to whether
the idea succeeds or fails IMO
MJR_: and have
the prototype
MJR_: not
that it counts a lot...but
they were interviewed on cnbc,
they have preorders in 30 countries already
MJR_: they don't have armored
trucks coming for
that...and of course i'd limit it
to $20 bills only...in and out
pgp: but we'll be able
to learn from
their mistakes...
pgp: idea is
TOO EARLY...
MJR_: they don't send armored
trucks for all of
them...i mean
the small atms...the kind you find in a deli not affiliated with a bank
mircea_popescu: and an armored
truck costs as much as an oil
tanker, 20k a day
MJR_: and i
think
the scarcity of bitoin right now means you will get more cash put in
than
taken out
mircea_popescu: and
they absolutely can't afford
the human resources let alone
the capital goods
MJR_: in
the fact
that again,
the real world has a way of messing software guys plans up
mircea_popescu: as running
the cash ops is
the most expensive part of retail banking
MJR_: if
they execute (a HUGE if) it would be great
MJR_: since
the
transactions are both ways how is it
the reverse?
MJR_: mircea_popescu: how do
these atm's relate
to your "magic money machines"?
MJR_: just a difference in pace at
the end of
the day
MJR_: you say
ten years...i say 3
MJR_: and
then move it back again
MJR_: which is why i need a way
to move my wealth from bitcoin
to cash immediately and at will
MJR_: i'm just saying...access
to your money is important
MJR_: there will be surprises and
there will be many
things
that change
MJR_: if people wanted bitcoin we would have had it already...glad satoshi didn't
think
that
pgp: if people wanted
that, we would have
that already
MJR_: literally at
the point of sale
MJR_: but if i could have all my wealth in my "investments"...and only liquidate when i had
to
pgp: fine... store of value...
there is no demand for ATM access
to your investments...
MJR_: and
the genesis block did not contain a message saying "money hard
to move
to other countries"
MJR_: BoJ just decided
to double its bond buyback rate...
MJR_: but i
think it's in its store of value
pgp: bitcoin's principal utility is in
the NON-local
transfer of money
MJR_: you wanna go
to lunch by
the way?
MJR_: maybe...you'd be surprised how quickly hipsters can adopt new
things
pgp: obviously, I believe in bitcoin... I just don't see
that happening anytime soon... in 10 years...
MJR_: common culture, and community
trust
MJR_: this is how immigrants do it, and have done it for hundreds of years, and its how
they survive and make it in a foreign land
MJR_: you create enough local economy
to create critical mass
MJR_: you
try
to draw all enthusiasts
to
this shop and
try
to get other local businesses in
this neighborhood
to accept it
MJR_: for
the city in question
MJR_: they way it SHOULD progress is like
this...you convince a local shop
to accept bitcoins and put your atm inside
their shop
MJR_: you are charging more
to buy and giving less out
to sell...it is automatically buy low sell high
MJR_: barring
theft,
they cannot lose money
MJR_: i don't see how
they can lose money
pgp: I just don't see it being a profitable venture for
these guys -
that's all...
MJR_: see what
they go for in a more convenient environment
troc: surely a better way
to access a local currency would be something like mpesa no ?
MJR_: if you are curious about
the market...check out localbitcoins
pgp: in
the future,
there will be no cash