966300+ entries in 0.576s
mjr_: anyway, see you guys later
tonight
mircea_popescu: "I went
through
the shoutbox archives and it
turns out
that engineer has been
trying
to figure out how
their boundary scan
tester works unsuccessfully for 3 straight days now. You kinda need
that
thing
to figure out if
the chips work correctly and if
they don't why
they don't work correctly."
mircea_popescu: in fact computers are an item
that can not be made of any single material
mjr_: no substrate for
the chips
mjr_: i
think you could...it is conductive...
mircea_popescu: if you plug it in it
turns your computer
to worthless gold!!!
mjr_: if i remember correctly, he killed his daughter by
touching her
mjr_: because he was alone and couldn't
touch anyone, or eat anything, classic greek god punishment
mjr_: which is
that midas was cursed
mjr_: it's funny
that few actually remember
the moral of
that story
mjr_: you would die
the richest person in
the world
mjr_: what if everything you
touched
turned
to gold
mjr_: this is like
the story of midas lol
mjr_: and
the market keeps working
mjr_: so i can work
to feed myself
mjr_: but
to me defeats
the purpose of building up wealth
mjr_: but it would have
to be something
mjr_: doesn't have
to be btc
mjr_: so my point is
that you will have
to give something up
to get something
mircea_popescu: well, me, prolly
they will cause im cool and all. but as a general rule no
mircea_popescu: a "market" doesn't have
to mean what you
think it means.
mjr_: unless
that "value" is activated
through a market, it doesn't matter
mjr_: ok, you are entitled
to value
them however you want
mircea_popescu: no, im just sayingthat
the value of my resources isn't a function of what i do or not do.
mjr_: sounds like a free lunch
to me
assbot: !ticker <exchange> <ticker> (desc: returns current
ticker values, supported: MPEX, HAVELOCK, BTCTCO)
mjr_: and
then starve
to death
mircea_popescu: what, you
think people don't wolfwhistle
the girl who wants
to be a nun ?
mjr_: so
they can offer whatever
they want
mjr_: if you refuse
to
trade,
there is no market
mjr_: i'm saying, in order
to get something, i spend money
mircea_popescu: it's not
the will of
the people
that enacts
the value of currency.
mjr_: my point is
that money
that can't/won't be spent is worthless
mjr_: there is no amount of food i would
take in compensation for my dollar
mjr_: my point is
that if i said i refuse
to part with my dollars for anything in return
mjr_: ah, you are saying people will forcibly
take your bitcoins?
mircea_popescu: if holders refused
to part with
their btc at any price
mjr_: if every woman refused
to have sex, yes
there would be no more sex barring rape
mjr_: at
this point right now i mean
mircea_popescu: something like, if women refused
to suck cock no matter what
mjr_: if every seller refused
to part with
their bitcoins at any price
mjr_: my point is simply
this
mjr_: you could use fiat
to proxy it
mjr_: that is possible
too, but only if people want
to
mjr_: in fact, litecoin was meant
to be
the silver
mircea_popescu: even if not a single bitcoin is used
to DIRECTLY buy services
mjr_: and
there are other crypto currencies
mircea_popescu: it wasn't at all impossible
to price anything, even
tho gold liquidity was 0
mjr_: ie. what price is someone willing
to pay, i don't know because i am not willing
to sell *at any price*
mjr_: and writes
them off as part of
the economy
mjr_: so
the yen falls in value since everyone stops caring
mjr_: ie. if japan hoarded yen, we couldn't buy
there shit
mjr_: if you do, you release bitcoins back into
the economy
mjr_: if you don't, you cease
trade
jurov: lol, gonna fund some research
to be able
to stay here
till 2100
mjr_: ok,
to me btc doesn't exist
mjr_: i can't buy from you using btc, i can't sell
to you for btc
mjr_: so with no adoption, everyone just goes back
to using fiat
mircea_popescu: this is like saying you like
this chick because she has more history.
mjr_: and was not
trying
to prove itself
mjr_: ie. i cannot spend my bitcoins or gain something from
them
mircea_popescu: in all
those instances people had
the option
to pay in gold
mjr_: ok...if
there is absolutely no
trade in bitcoins
mircea_popescu: all
through
the history, when silver was overpriced by fiat, gold was hoarded
mircea_popescu: <mjr_> if no one can buy or sell with bitcoins,
their value drops <<
this is absolute nonsebnse.
mjr_: my point is
that
the
transition can be done whereby you generate revenue in btc and spend btc
mjr_: if no one can buy or sell with bitcoins,
their value drops
mjr_: so, i
think
the
two are mutually dependant
mjr_: if everyone could hoard all
their assets forever, everyone might do
that, but life costs money
mjr_: or you exchange and
then buy
the coffee releasing
them into
the supply
mjr_: releasing
them into
the supply
mjr_: and eventually...paper money needs
to be spent or it is really worthless
mjr_: very
true and
that is
the way
to go, if you have a lot of btc
mircea_popescu: from my pov i am simply conserving btc portofolio and using my fiat assets
to discharge all obligations
Lyspooner: that's good advice since you set
the spreads ;)
mjr_: he can peg
the cost in btc
to
the dollar
mircea_popescu: mjr_ are you familiar with
that
theory of investing whereby early on in your investing life you should never sell assets,
to avoid
the spreads, but simply buy something else and change portofolio
that way ?
mjr_: but
take my friends coffee shop
mircea_popescu: which if you
think about it... being in
the
top 20k ppl is pretty much being very rich
Lyspooner: mircea_popescu yes, i agree. people should strive
to get 1000 BTC if
they don't have it already