969000+ entries in 0.647s
Ukto: you can expect a major price jump
to $35~$40 very quickly
Ukto: but.. when it hits $30, if
there IS a big news deal, and it goes further viral
mircea_popescu: it all depends how many people hold how much btc
this way
mircea_popescu: Ukto i won't sell, for instance. i don;t care what it is
tbh.
Ukto: it will slump back
to $25
Ukto: when it hits 30, if
there is not a huge news buzz of crazyness
mircea_popescu: i imagine
the reason eskimoblob is a jerk is because nobody asked him
to stop befoar.
Ukto: depends on
the news burst
that goes with it
Chaang-Noi: ukto i
think you might be right, no one is selling! once it hits 30ish you see it crashing a bit?
Ukto: i see 100's all
the
time
BitHub: update
the news section Ukto :P give me a lil present
to read :)
Chaang-Noi: ill have
to check it out, i hope btc goes back down, i need
to buy somre more...
Ukto: mircea_popescu: I
thoguth about putting a unicorn easter egg somewhere, just fo ryou
Chaang-Noi: is BF working out well Ukto? i have not been folowing
that stuff much lately.
vampireb: I sent 10BTC
to a guy in NY, and I get $200 from him
Chaang-Noi: yeah, you just never
told me
the name:)
pigeons: vampireb: interest is in
the spec, and
the original ripplepay implementation, but not implemented yet in opencoin/payward ripple.com system
vampireb: so
that someone may charge me interest... Hey you give me $20 in IOU, and I give $10 in physical bills...
Ukto: mircea_popescu: lol, nah,
the desktop codes on
the side burner
mircea_popescu: Ukto you're
totally insane if you're dicking around with destops for ripple instead of plugging bf in here.
pigeons: vampireb: you send it
to someone who will accept it and give you a note
vampireb: ok so I got $20 in IOU from ripple, how do I convert
to
the actual $20 bill
Ukto: BitHub: your
thinking of overpriced cars again
Ukto: lemme rephrase
that
Ukto: it allows you
to store your fiats
Ukto: Ripple is NOT ment
to replace btc
maximian: I'd like
to
try it, but
the Ripple wallet
tells me I need ripples (XRP), and it's not clear how
to get
those.
vampireb: if i go
to russia, i just send BTC
to qukppay machines
Ukto: bit
this is actual currency
Chaang-Noi: how is it decentralized if you have
the only gateway?
vampireb: but bitcoin does
the same, i can convert
to any fiat
Chaang-Noi: what is
the over all pint of goal of ripple?
vampireb: sounds like a scammer heaven
to me
Ukto: and I am not involved with it per say, I jsut run
the only gate way
Chaang-Noi: Ukto are involved with ripple, also can you
tell me why
this system is differnt
than btc?
Ukto: its all stored in
the p2p ledger database
Ukto: in fact, you are holding issued notes signed by
the issuer
mircea_popescu: any other exchange, including mtgox, could just close
tomorrow and well... enjoy liquidators
Ukto: they are just sum'd
that way
Ukto: mircea_popescu: your ripple wallet doesnt just account for
totals by ISO name
mircea_popescu: Chaang-Noi
these guys specifically because
they have
the french bank insurance
thing.
vampireb: its almost impossible
to collect ious from friends or family
mircea_popescu: vampireb have her pay back in blowjobs. let new gf get
them
Ukto: and have an 'offer' in
the network
to exchange
them for a small fee
Ukto: but vampireb might
trust both
vampireb: well.. i got a new one :-)
the old one still owes me shit load of money
Ukto: and BitHub may only
trust GOX issued USD
mircea_popescu: pretty much
the only exchange i'd
trust with btc/fiat atm is
the bitcoin-central.net ppl
Ukto: I might only
trust MPEX issued USD
Ukto: is
that you pick your gateways as issuers
vampireb: expecially about money, dont
trust friends...
BitHub: should i
trust bitfloor with all my btc?
Ukto: you dont want
to
trust friends
Ukto: You dont WANT
to
trust a friend of a friend of a friend
Ukto: thats what I am
trying
to say
vampireb: i woulnt
trust 1k
to my gf.. especially her friend
vampireb: since i inherently dont
trust anyone, why would i
trust a friend of a friend
Ukto: Doesnt work
that way
mircea_popescu: so can i create ripple debt, sell it
to weex cash bitcoins and arrivederci ?
Ukto: I can confidently
tell you, quite a bit of currency has already passed into ripple.
Ukto: WeExchange is
the first, and only ripple gateway at
the moment
mircea_popescu: dude if you said hed hoelkatz i'd have
totally gotten it.
mircea_popescu: maximian part of why im saying i dont get it is in
the hopes someone goes "no you fucking idiot, it's like so and SO! see ?"
maximian: I can't understand how Ripple can
take off… it requires
that you establish establish credit relationships with your friends or associates. I'm
too fucking lazy
to do
that.
mircea_popescu: So, shareholders fund
the entire startup costs of
the company and end up with 38% 'ownership.' It was exactly
this point, what is ASICMiner's % of
the company,
that was debated in some detail when ASICMiner announced
the IPO.
Chaang-Noi: it seems you can create debt on ripple somehow... i wonder if
this will end in
tears
mircea_popescu: fuck knows why people get so wrapped up in
that nonsense. anyway.
mircea_popescu: yeah,
they've been all over how i hate
them cause
they r competitors and other nefarious reasons.
Chaang-Noi: this seems silly... i expected google of facebook
to do something like
this but
these clowns on
their own? hmmm
mircea_popescu: as far as i can
tell, it's all some dorks who wanna be developers cause
they figure its cool.
Chaang-Noi: mircea,
that link seems
to show what is wrong with Ripple, my question is, why did
they even bother
to make ripple, what can it do
that bitcoin cant?
BitHub: i
think
that's what bitpay is doing atm
BitHub: see i
think you would hire a marketing
team
to sell
the idea of bitcoin
to merchants first
BitHub: even
tho i would give
them 100% of
the bitcoin
BitHub: i was
thinking
to setup a service
to collect donations for celebs and charaties and stuff, but might get in
trouble
vampireb: or
theymos supressed your avatar
ThickAsThieves: my wife works in nonprofit sector, i was
thinking
that nonprofits should uptake bitcoin acceptance for donations
Chaang-Noi: so i see riple is active, what exactly does it do again? how is it differnet from bitcoin other
than using a premined coin?
mircea_popescu: vampireb a 1mn block will likely get about 200 btc at current (20k) estimated profit for
the month.
mircea_popescu: BitHub
the problem is
this :
the fixed cost
to get someone into btc is huge
vampireb: i am just
trying
to figure out amount of divident per share
BitHub: a whole wide range of reasons, do i really need
to go in detail?