936100+ entries in 0.678s
copumpkin: tiberiusiv: I'll let you do
that without unnecessary distractions of people
trying
to
talk
to you
MJR_III: bgupta: you can basically go
to gox or bfx
bgupta: Guessing MtGox? needs
to kinda be mtgox
to impact
the market no?
bgupta: what exchage do
the
trades get settled?
MJR_III: copumpkin: you are making me
think of unignoring him...but i have
to be like ulysses and ignore
the siren song of
trolling
copumpkin: opinions are like assholes,
they say
smickles: hmmm, i don't
think any of
the loans i've made > 100btc in value have defaulted
copumpkin: do I sense a religious undertone
to
that judgment?
MJR_III: and if you would rather just lend out dollars or bitcoins...you can do
that
too
MJR_III: if you want
to buy and sell bitcoins (withdraw etc) you can use
the exchange portion...if you want
to
trade on margin,
there is
that portion
copumpkin: by imposing rates
that are
too high
copumpkin: tiberiusiv: so everyone's good and
the evil lenders force
them
to steal
the money?
copumpkin: tiberiusiv: or when
the borrower is a
thief? :)
copumpkin: tiberiusiv: do you accept
that
there might be explanations other
than high interest rates for
that?
MJR_III: i prefer
to get margin
to go long
bgupta: gonna check it out is it only btc/fiat plays or do
they have other stuff
there?
copumpkin: tiberiusiv: I haven't really seen particular evidence of
that, and he's not extrapolating unnecessarily, which are doing
MJR_III: yeah not huge...but
they pass
through
to gox
smickles: bitfinx is pretty new,
that may have
to do with
their size
MJR_III: copumpkin: where you
telling
tiberiusiv?
MJR_III: where you are like "huh? what are you guys
talking about"
copumpkin: MJR_III: he's ignored you. Your messages don't get
through
to him (if you haven't used IRC much before)
copumpkin: the most annoying
thing about /ignore is
that people keep
talking about how
they can't see what someone is
typing :P
MJR_III: mostly just because i have no interest in listening
to his idiocy, but i still have
to see
the other half of
the convo
bgupta: I mean literally I can't see what he is
typing.
MJR_III: the main problem with
tiberiusiv is
that he doesn't just shut up and short bitcoins, if he is so bearish...then put your money where your mouth is and go short
MJR_III: copumpkin: he doesn't know
that
copumpkin: tiberiusiv: you know
that someone who disagrees with you isn't automatically poor or stupid
bgupta: I don't
trade currencies so not for me.
smickles: tiberiusiv: you could get upwards of 10kbtc margin on mpex, iirc. but
that's a scam. amirite :D
MJR_III: similar
to most prop
trading firms
bgupta: Ah so you have
to use it
to short in
their
trading system.. you can't borrow it for other reasons.
copumpkin: I
think I got a little over 100k shares for 5 or 10 btc?
MJR_III: if you lose what you have in
the bank
MJR_III: you can only
trade with it
bgupta: MJR_III not
to interupt
this retardedness, but what are
the requirements
to borrow at 12%? IE: How do
they know you won't abscond with
the coins?
MJR_III: but forgot
to do it on MiRc
MJR_III: just
trollling bitcoin-assets
MJR_III: copumpkin: he has been at
this game for a week now
copumpkin: you can
tell yourself
that
to make yourself feel better about not having any real arguments
MJR_III: copumpkin: i'm just gonna mute...its obvious he has no idea what he's
talking about
MJR_III: if
the price doubles
the INTEREST is
the last of your worries
MJR_III: and go
to bitfinex and
take out
the short
MJR_III: pray
tell how did you obtain
this info?
MJR_III: well...that is probably because you'd have
to be stupid
to short
MJR_III: so it seems
to be more
than enough
MJR_III: well...no one is
taking whats out
there
copumpkin: I HAVE AN EXPLANATION FOR WHY, SO
THAT IS
THE EXPLANATION
MJR_III: i don't
think you understand how
the free market works
MJR_III: i need
to "locate"
the shares before i can sell short
MJR_III: there is a concept of hard
to borrow
MJR_III: ok...i want
to short all
the aapl shares in
the world
MJR_III: if you look at
the site we are
talking about...you will see
that bitcoin lending and dollar lending is a market like any other
copumpkin: there's still large risk for
the lender
copumpkin: tiberiusiv: and how do you propose
that happen, as I asked before?
MJR_III: that is
the markets desire for interest on btc
MJR_III: ok...but a lot of people don't seem
to want
to lend
their bitcoins
MJR_III: copumpkin: where did he NOT learn about
this?
copumpkin: tiberiusiv: where did you learn about
this stuff, out of curiosity?
MJR_III: it is lower
than
the
total amount owed
copumpkin: in other news, if you borrow all
the money in
the world,
things might go strangely
MJR_III: how would i service
that debt?
MJR_III: lets say i want
to borrow 100 quintillion dollars
MJR_III: so you are
trying
to borrow an impossible amount of money
copumpkin: tiberiusiv:
that's an argument against any interest rate you pick
copumpkin: tiberiusiv: how do you expect
to short
then, when risk for
the lender is so high? should lending not exist at all?
MJR_III: another epic
troll by
tiberiusiv
copumpkin: MJR_III: it
takes a speculum, right?
MJR_III: i don't
think you understand how speculation works
MJR_III: if i expect it
to stay where it is
MJR_III: you are paying a
tiny
tiny rate of interest
MJR_III: i don't
think you understand how apy works
MJR_III: you have
to pay 2 dollars in interest
copumpkin: this is an awesome conversation
to watch
MJR_III: how could i ever make
that back
MJR_III: i had
to spend $2 in order
to short
MJR_III: let me walk you
through
the scenario
MJR_III: and i just showed it
to you
MJR_III: if i
think
they go down, i short
MJR_III: if I
think
they go up i get long