975200+ entries in 0.696s
gribble: There are currently 0 bitcoins offered at or under 20.0 USD, worth 0.0 USD in
total.
gesell: in specific
that point about "regultory compliance" id like
to uncompress
pigeons: gesell: its been done
to death
gesell: anyone have a good reference on
the history of GLBSE and its closure?
gesell: "As was widely suspected in
the case of GLBSE and eventually
turned out correct,
the lack of
track record and regulatory compliance exacerbate
the risk of unclean shutdown,
throwing asset issuers and holders
to limbo."
mircea_popescu: im pretty sure your bloatyblocks with messages in
them would get dropped a liot.
mircea_popescu: gesell currently
the prtoblem with bitcoin is
that
ther blocks are
too small
to contain
the
transactions
gesell: thanks for
the rebase.
time
to dig into colored coin again
pigeons: looks like colored coins is your best bet for
that, but i still don't
think
the bitcoin blockchain is
the best place
gesell: would be ellegant
to have all of
that information in
the same protocol
that exchanges wealth for purchase
gesell: i dont want
to use use
the or a blockchain as a database but also use it as
the means for discovery of services, as well as
the store and discovery for reputation
gesell: im
trying
to liberate subversive services from
the
Tor only option
pigeons: blockchain.info is slick, but i hate it when people
think it is "official" or
the only one
gesell: i know but somehow i
think if you kill
the special widget blockchain front end (widgetblockchain.info) it would
take a while
to adjust.
kakobreklaa: if youd kill blockchain.info, 10 more would pop up, same as with
torrent sites
gesell: kakobreklaa: or using
the existing one
gesell: kakobreklaa: what would be like
torrent?
pigeons: yeah what a slap, use his name for cred
too !
gesell: yeah well sdice
told satoshi
to fuck off so
pigeons: satoshi said he prefers new blockchains for
this sort of stuff
gesell: or at least,
Tor is optional
then
gesell: the advantage of using
The blockchain as apposed
to a new one is
that you can use blockchain.info for all sorts of purposes (finding WidgedA sellers, checking reputation) and its a little harder
to kill blockchain.info which has plenty of legal use,
than specialwidgetsellerblockchain.info. So you could basically do silkroad without
Tor
pigeons: but yes you choose which issuers
to deal with and how
to value
them versus other issuers in ripple
pigeons: ripple doesn't use
the bitcoin blockchain, but it has its own blockchain called
the "ledger"
gesell: yeah havent looked into
the
technical details of how ripple uses
the blockchain. but
the p2p concept is clear. but its more about
the 6 degrees social aspect
gesell: yeah i hear
the question. im sure it might be. dont want
to contemplate it
gesell: a general reputation api/protocol on
the block chain letting widget providers pick
their reputation provider would be wicked
pigeons: oh building a protocol on
top of, yeah, see namecoin, colored coins, etc
gesell: from here you can also build
the protocol ontop of
the blockchain
to exchange keys
kakobreklaa: the other
thing is, how am i going
to leave feedback?
pigeons: yeah what encoding method are you using
to embed
this message in a
transaction?
gesell: encrypted(send me <widget>
to my <homeaddr>)
kakobreklaa: "send me <drugs>
to my <home address>. ktnxbai"
pigeons: what is an example method
to embed
the message
gesell: you can embed a message in
the 1btc send
pigeons: explain how
the "with a message embedded where where you want it shipped" works
gesell: could someone use
the blockchain
to sell widgets locally?
That is, I sell
two
types of widgests: WidgetA for 1btc and WidgetB for 2btc. You want
to buy WidgetA. You send 1btc
to 1WidgetA1234560abcdeff rx with a message embedded where where you want it shipped. I mean, couldnt
this be a service
to kill silkroad?
gesell: but some could still be something one could game if
they had insider information
mircea_popescu: i mean sure ppl would get excited, but so what of it ? fpga ss
till hash
mircea_popescu: if all of
them, bfl, avalon, asicminer, etc go
the way of basic
gesell: just because
there are other asics in
the pipe
mircea_popescu: tbh i doubt avalon
turning out
to be a scam
tomorrow would do anything
to
the price.
mircea_popescu: if you believe in markets as
the ultimate allocator of resources,
then
that person's gain would always be smaller
than
the global benefit
gesell: and use
this advantage
to sell high, buy low
gesell: perhaps
the last ponzi (you mean pirate) but one could still game perception
to swing price (if
they a legitimate, non ponzi share of perceptional influance)
gesell: doesnt seem
to me
that
this could not happen again, or many
times
mircea_popescu: the grapewine abuz with
the
theory
that
that's
the plan, crash btc price
to rebuy cheap
mircea_popescu: if you look at
the graphs, was a large chunk of btc sold off
gesell: beh, wish i understood
typical finance more (slow going) but interesting read
mircea_popescu: other
than
that,
the january people kinda got it on
the chin, bot made 10k
mircea_popescu: mind
that
the only one
time someone came close
to "owning" anything was august, and if
that's
the case
the wisdom was insider information, not smarts.
mircea_popescu: that was, as best i can guess, someone insuring a large btc obligation (via
the calls) and someone
trying
to mommentum
trade (short puts)
gesell: (i mean wtf was all
that huge option btc stuff going on at mpex in
the chat log you put up on your blog)
mircea_popescu: heh. if indeed
they could "own" bitcoin
through
their superior
trading skills
they'd be doing it, neh ?
gesell: wait
that is close
to home. how is it like a 16yo
that knows hax?
mircea_popescu: to my eyes it's much akin
to
the 16 yo kid
that "knows hax"
mircea_popescu: there is
this very loud but imo stupid group who claim
that btc is inherently unsustainable because "they are finance experts and know how
to break it"
gesell: and on
that note, is sdice
too big
to fail (in
the bitcoin world)?
mircea_popescu: irl a well run bank can't compete with a "too big
to fail" bank
gesell: and
that perhaps
tradition
tricks of
the
trade will game
this market as well
mircea_popescu: exactly.
that weight mostly consists in making it impossible for someone
to dominate just because
they're big.
gesell: but wondering if im getting
too far ahead of my self with optimism
gesell: so i also feel
this huge weight lifted
gesell: it is attractive
that a lot of
the regulatory weight in fiat is
taken out of
the picture
mircea_popescu: as best i can guess
the effect you describe is a result of
the regulatory interplay in fiat.
gesell: maybe i dont have my
thoughts clear. im more wondering if we will start
to see
the little guy (even if smart in finance) feeling he can do nothing in BTC markets because he will always be out smarted by
those (even with
the same understanding as him in finance)
that have more BTC
to play
mircea_popescu: i don't
think
there's any requirement for collectivism. in fact,
the main seductive guile of btc
to me is how prettily it completely decouples success from any sort of collective action whatsoever.
mircea_popescu: by now mommentum is moving and
they're maybe buying, but
the rule is quite simple : by
the
time
the stupid gets onboard
the ship is already sinking.
gesell: do you
think
that "smarter" will require collectivism for more impact? uncompressing
that: it seems
that in brick and mortar finance
the bigger fish execute with greater advantage. Would
this wind up being
true in Bitcoin in
the future:
those with greater BTC are "smarter"?
mircea_popescu: now, once reward halving was pinned down,
the smart bought.
the stupid didn't buy, because
they were mommentum
trading and
the mommentum wasn't moving.
gesell: due
to financial services? what is "smarter" in
this case?
mircea_popescu: that's
the effect of free markets,
they marginalize
the common man.
mircea_popescu: well, just,
the btcs are naturally leaching
towards
the richer and
the smarter.
gesell: who is
the antithesis
to
the random bloke here
mircea_popescu: that is changing already and in fact
the random nobody will not exist in 2017.
mircea_popescu: as in,
the fact
that some bloke heard about it first is more important
than
the fact
that he's smart or rich.
gesell: why, becaue people will be aware of
the behavior?
gesell: mircea_popescu: is
that a pattern you
think would repeat in 4 years at
the next halving?
mircea_popescu: once
the bitcoins available for sale dried up panic gripped.
mircea_popescu: buyers msitakenly figured
they can delay inversting indefintiely
gesell: mircea_popescu: so
to me
there is a lot of new activity from current and established users putting more of
the weight into
the play
mircea_popescu: gesell i guess what started
things was
the dwindling supply of bitcoins due
to reward halving a month or so ago