932900+ entries in 0.662s
mircea_popescu: very abridgedly : if you have a bn dollars you pay about 3-5% in
tax, or w/e you want.
benkay: how do
those statements accomplish
the above, mircea_popescu?
mircea_popescu: and b. his only purpose is
to fuck up anyone
threatening
to join his club.
mircea_popescu: the fact is
that a. he's only not being
taxed because he isn't paying himself a salary (because he doesn't need
to)
benkay: my
tiny brain's already leaking, bro
mircea_popescu: people like buffett, who already made it, come up with "we're not
taxed enough" sort of statements.
benkay: i'll be running
this
through
the wringer over
the coming week
benkay: interesting. i don't know
that i buy
the numbers behind
that argument, but it's interesting.
dub: had
to forgive $30k/year of debt oslt
dub: yeah ex had
trust fund via gifting
mircea_popescu: bye bye inheritance
tax means
the system's lifetime is already capped
to about 3 generations.
thestringpuller: there are easier ways around death
taxes
than death itself
mircea_popescu: one excellent case study of how bitcoin is irretrievably destroying
the socialist paradigm.
mircea_popescu: but certainly
the passing down would be one way
to do it, and
that's why inheritance is
taxed
to fuck.
mircea_popescu: but if you get even close
to
that barrier it's like superficial
tension in a water dropplet al oof a sudden
mircea_popescu: the only
thingthat's not ok is
to get out of
the poor into
the rich. everytjhing else is fine,
mircea_popescu: benkay have you considered how
taxation works in
the us for instance ?
thestringpuller: mircea_popescu: but
that's only
the case if you pass wealth down
throughout generations
benkay: american pop culture is all about
the hustle.
benkay: what is
this anti-getting ahead stuff of which you speak?
mircea_popescu: of course
the socialistoid governments of
the uncivilised world would very much prefer a population of poor only.
mircea_popescu: so if you're abny good at it eventually you should accumulate enough wealth
to not be poor.
benkay: but
that's neither here nor
there.
benkay: I prefer
to sell hours
than rent myself.
benkay: derp i mean
that backwards
benkay: interesting. because
they don't have
to work for
their income?
bgupta: well you can't have "rich" without "poor" laboring for
their wages
benkay: is skilled labor poor in
this paradigm?
mircea_popescu: the poor is any one individual
that does not own enough real property or capital
to produce one average wage out of its use alone.
mircea_popescu: benkay nah. friction is bleeding money off productive uses into
the
toilet.
benkay: it's an unhealthy ecosystem
that only has apex predators
benkay: or an ecosystem if you like
thinking
that way
benkay: and sort of model it like an entropic
thing
benkay: you can
think about money friction as bleeding money off
the wealthy into
the rest of
the population
mircea_popescu: just like a good baseball bat is one
that doesn't lower
the batter's average.
mircea_popescu: once you've read
that my definition will make more sense. it is "a good currency is one
that doesn't introduce friction for capital allocation"
Bugpowder: nice study in inflation,
the history of
the solidus
Bugpowder: the roman gold coin was
the solidus
benkay: militaries may not be as well funded in
the future as
the united states is
today.
Bugpowder: The word soldier entered modern English in
the 14th century from
the equivalent Middle English word soudeour, from Anglo-French soudeer or soudeour, meaning mercenary, from soudee, meaning shilling's worth or wage, from sou or soud, shilling.
bgupta: mircea_popescu: Ok let's flip
this around. What is your definition of a "good currency"?
toffoo: you're right "ORIGIN Middle English: from Old French soldier, from soulde ‘(soldier's) pay,’ from Latin solidus (see solidus).
The verb dates from
the early 17th cent."
mircea_popescu: at least
that's how soldiers got
to be called soldiers in
the first placer.
mircea_popescu: <Bugpowder>
taxes are
the purpose of a currency <<< actually if we go by historicval recorxd
gribble: There are currently 9755.8082 bitcoins offered at or under 110.0 USD, worth 1053292.16897 USD in
total. | Data vintage: 0.0117 seconds
gribble: There are currently 35564.567 bitcoins demanded at or over 90.0 USD, worth 3370512.9669 USD in
total. | Data vintage: 4.4431 seconds
gribble: There are currently 7136.2212 bitcoins demanded at or over 100.0 USD, worth 726982.251473 USD in
total. | Data vintage: 0.0042 seconds
gribble: BTCUSD
ticker | Best bid: 104.80000, Best ask: 105.00000, Bid-ask spread: 0.20000, Last
trade: 105.00000, 24 hour volume: 91538.99833040, 24 hour low: 92.65000, 24 hour high: 106.00000, 24 hour vwap: 100.80654
smickles: my volatility sense is
tingling
benkay: different currencies may be better suited
to different
things
BitHub: looks like
that chick from larry david, Wanda
mircea_popescu: that'll resolve itself soon enough, and
then
there's
the rest of eternity
to bitcoin back and forth
mircea_popescu: now all
that aside : currenlt bitcoin is not workable as a
token
to buy eggs because a large number of idiots mistakenly refuse
to recognise its value.
ThickAsThieves: the kid is actually calm in
that video, but he has some wild ones
mircea_popescu: but
then
to reduce
that
to such a narrow use seems fallacious.
mircea_popescu: i mean saying its purpose is
to measure commerce / act as medium of exchange etc is one
thing
assbot: Hell, ain't we about more fucked
than a whore at closin'
time, huh?
Bugpowder: taxes are
the purpose of a currency
mircea_popescu: this is like saying "what is
the purpose of a car!
to drive on new jersey
turnpike!"
bgupta: mircea_popescu: ^^
typo.. anyway,
that's not
to say it can't grow into a good currency
bgupta: micea_popescu: what is
the purpose of a currency? My understanding is
that it is
to facilitate day
to day commerce. Buying eggs and bread and shit, so people don't have
to barter. For
this purpose, it sucks. Remember
the volitility is not just in one direction..
gribble: There are currently 35147801 bitcoins demanded at or over 0.0 USD, worth 10305059.9642 USD in
total. | Data vintage: 24.6499 seconds
Namworld: and I updated my spreadsheet by
the way
Diablo-D3: stopping
the diarehea isnt a good idea unless
they simply cant get fluids back into you fast enough
ThickAsThieves: if "=PriceMPEX("O.BTCUSD.C310T","S")" used
to pull
the old options into a spreadsheet, what would I have
to change it
to for new options?
Diablo-D3: I mean,
thats one hell of a backhanded complement
Diablo-D3: if you use USD as
the golden standard, Bitcoin is
the worst possible currency you could create
Diablo-D3: mircea_popescu: I agree with
their assesment
mircea_popescu: so basically because
the usd is an inflationary piece of shit
BitHub: "discovering
themselves"
bgupta: Diablo-D3:
To sen d YOU a rig?
BitHub: are bfl still on
that world
tour 3 month boat cruise
thing?
ThickAsThieves: it's a stable diagonal line,
thats
the best kind right?