935400+ entries in 0.688s
MJR_III: because at
the end of
the day...it comes down
to management
MJR_III: its an interesting challenge, and i
think its a
testament
to
the strength of bitcoin
that it survives bad management
mircea_popescu: "it costs you less
to buy your lube in btc on our site
than at your corner lube shop" is a vp.
MJR_III: so a company like GE or Boeing have
to do a whole different set of
things
than a web startup in silicon valley, and
the fallacy is
that because you are good at one
thing, you will be good at
the other
mircea_popescu: (leaving aside
they don't even know
this is where it starts)
unbalanced: Bear with me, I'm just wondering... is
this a viable biz for
that script kiddie, or maybe a
team of 4, at
these levels? Is it a good start or is Mr. Bitmit wasting his
time?
MJR_III: pinterest,
twitter, facebook...they don't actually have
to produce real
things
that
take supply chains
MJR_III: and most web startups don't have
to work in
the REAL world
MJR_III: actually executing in
the real world when you have more complex operations
than basically posting messages
to each other is
tough
unbalanced: (From
their "worldwide" dropdown in upper right.)
mircea_popescu: you have five minutes
to find me a way
to spend 10 btc on items
that i could conceivably use during
the remainder of 2013
unbalanced: So... in
this case, bitmit.net (they need a better domain at least, I've mistyped it 3 different ways now) apparently has 17029 listings.
mircea_popescu: yeah.
they also don't have
the chances of a real business.
MJR_III: which is why you see
things like BFL and others
MJR_III: but
those
things do not have
the operational challenges of a real business
MJR_III: i
think
that one of
the problems is
that
the current marketplace loves fuzzy
things like "social networking" and pretty websites
mircea_popescu: there's a lot
to business
that's not
taught in any c++ manual
mircea_popescu: and
this isn't random dickery as in "you must be old" or some shit.
the ops experience shows.
MJR_III: i would say
that it is not so much even
their experience (though
that is helpful) but rather
the fact
that
they are good at doing what
they set out
to do
mircea_popescu: a woman
that was in charge of maersk pacific ops for
the past five years
mircea_popescu: some guy who was
the near east distribution manager for coca cola since 1992
unbalanced: Roger. So Meg Whitman starts an eBay killer using bitcoin,
that's when
to pay attention.
mircea_popescu: you can probably make a fuckton selling folk remedies and straight silicone injections into
the ass. heck, some people do.
mircea_popescu: i don't care how much profit
the doctor's office makes.
unbalanced: So it only sucks because it doesn't have proven profits yet? Once proven
to have
traction and revenue, it wouldn't meet
the noob=sux criteria?
mircea_popescu: the only way
to obtain such a
thing is if someone with a lot of fmcg experience and contacts actually starts one.
mircea_popescu: this "here's a script
that sorta replicates functionality now we wait for "the users"
to make us a business" is nonsense
unbalanced: As a guy wondering what my place is in
the BTC economy, I
take
that stuff
to heart and
try
to remember it.
mircea_popescu: imagine if some kid made a html page which read
THE REAL AMZON
mircea_popescu: unbalanced basically it's yet another rehash of
the old and by now stale "i wrote a script
therefore
this is a business".
unbalanced: I
think someone mentioned building an eBay-killer here
this week but now I can't remember who/when/what
unbalanced: And is it, or are any of
them, listed assets? Or soon
to be?
unbalanced: Is anyone using www.bitmit.net ? Is it
the eBay of bitcoin or just one of many contenders?
MJR_III: The change in difficulty is in proportion
to
the amount of
time over or under
two weeks
the previous 2016 blocks
took
to find.
MJR_III: you will just increase
the difficulty quicker
MJR_III: thats why a huge increase in mining power will not really help you mine a
ton of blocks
OneMiner: Umm.... I don't
think so dood. Site it or it didn't happen.
jborkl: it adjusts every
two weeks maximum
jborkl: killing
the network in
the meantime
jborkl: if half
the network
took a shit,
then we would drop
to one block every 20 minutes and
that would last a month
OneMiner: If
the previous 2016 blocks
took more
than
two weeks
to find <---- suggests
that you'd need all 2016 blocks
to be found.
OneMiner: jborkl I
think you're reading
that wrong.
jborkl: If
the previous 2016 blocks
took more
than
two weeks
to find,
the difficulty is reduced
deadweasel: ThickAsThieves: Credit Repair business is actually a good business
to get into in
the US. since
they legislated against all
those "instant credit repair" scams, people can actually get help.
jborkl: I have been
through quite a few lower diff levels and it adjusts at
two weeks
OneMiner: It's not based on
time. It's based on number of blocks. You sure about
that jborkl?
jborkl: slowdown in hash rate, it will lower in
two weeks- not 2.5 or 3 weeks
jborkl: No,
the longest
the diff will not adjust is
two weeks
OneMiner: Hmmm... 2018 or something like
that.
OneMiner: pgp Yes, if hashrate always goes up
then halving day will come sooner by a bit.
pgp: so, if we assume a constant increase in hash rate,
then halving day, by definition will alway be something short of 4 years...
OneMiner: pgp 1 block per 10 min based on rate of block generation during
the period.
Guest4504: Goat from a phone. Lol at
technology.
deadweasel: ThickAsThieves: I didn't catch
that. So
they might have a diploma from Spain, but want a US one.
pgp: question about network difficulty... does it adjust
to bring rate back
to 1 block per 10 min on current hash rate, or does it
try
to compensate
to bring overall hash rate from last halving day
to 1 block evey 10 min?
deadweasel: might be hard
to understand btc w/out a high school diploma
ThickAsThieves: is
there international demand for getting a US high school diploma with online classes?
bitesak: known for his asymetric language
trend analysis, using
the change of language in
the postings online
to derive forecasts for developing
trends
gribble: BTCUSD
ticker | Best bid: 89.48500, Best ask: 89.50000, Bid-ask spread: 0.01500, Last
trade: 89.50000, 24 hour volume: 156731.60658333, 24 hour low: 75.00111, 24 hour high: 94.50000, 24 hour vwap: 86.52536
Chaang-Noi: well gents,
tomorrow i gotz
to
travel so im off
to bed, call me if we get close
to 100
thestringpuller: I
think as old money enters
the btc economy, due
to lack of regulation people like mircea_popescu will
take
their money pretty quickly
OneMiner: You know what's crazy good news? I
think
the US money laundering news is great. It's step one
to establishing bitcoin in US society.
OneMiner: Ya,
the price increase is crazy.
Chaang-Noi: btc went from 2
to 90 in like a year, or like x45
MJR_III: josh bft is
trying
to beat
the bitbet date
Chaang-Noi: yeah btc at 5k i could do 4 loti in
thailand with no problem
OneMiner: 5k would put me in a sweet spot. I couldn't complain about
that.
gribble: BTCUSD
ticker | Best bid: 88.23100, Best ask: 89.00000, Bid-ask spread: 0.76900, Last
trade: 89.00000, 24 hour volume: 156779.61814498, 24 hour low: 75.00111, 24 hour high: 94.50000, 24 hour vwap: 86.53906
Chaang-Noi: yeah :/ unless btc goes
to 5,000
then im getting 4...
OneMiner: Yes, in
that case move first. Less complicated.