990300+ entries in 0.774s
Namjies: Not
their legal/rights status.
Namjies: Well, yes, I would still do. It depends on what you consider "human" however. I'm using it refering
to
the specy.
mircea_popescu: they're not. so, either kids can do what
they please or else
they're slaves. no synthetic middle of
the road so we can argue both ways
mircea_popescu: Namjies me either, but
the fact remains once you strip humans of some rights you can't pretend
they're still humans.
Bugpowder: and
they are my potential customers
Bugpowder: but many people are more optimistic about ASICs
than I
mircea_popescu: Bugpowder an important point here is
that i would imagine actual margins being blown
to be rare.
mircea_popescu: Namjies yes, if you don't recognise
them some rights
then
they're slaves.
Bugpowder: people will
think
that any price over .097 is autoloss for MAR
Namjies: It's not like you would believe
the state can choose who can or cannot drink?
That doesn't sound like you.
Namjies: Ah, so being legally allowed
to have beer makes humans humans now?
That's probably one of
the weakest argument I've ever heard you say.
Bugpowder: Well. I gotta sleep. I have put some
trial contracts out for sale. If
they don't sell by next Weds, I wonder if potential buyers will understand
that
the contract is not an auto loss for
them at my ask.
mircea_popescu: and
the entire history of positive pop growth over millenia was exactly it : manufacturing slaves.
mircea_popescu: if
they can't legally have a beer,
then don't
tell me
they're people.
Namjies: And as such, if a couple wants slaves,
they can manufacture
them.
Namjies: If kids are property,
then every human is property.
mircea_popescu: so basically, display
the mean collateral per contract ?
Bugpowder: but someone could
trigger liquidation with a large order
Bugpowder: it would
then adjust in a smooth manner
Bugpowder: Well
there are other variations, like a margin level
that is adjusted for all asset creators
that reflects
the mean of
the margin requirements of
the population of contracts at
time each was struck.
This current liquidation value could be displayed on
the contract
trading page.
Namjies: If any parent can,
then idiots would be permitted
to kill
their productive child be interpreting
the child correcting
their erros as disrespect.
They could even kill him just because
they feel like it.
Namjies: Yes, but if
the government discharge a kid from
the public system and returns it
to it's parents... Wouldn't we consider
that parents chose
to be responsible? If
they can't beat
the life out of it/put it in a grinder,
they have
to do something with it.
Bugpowder: from
the current diff level at
the settlement date
mircea_popescu: but
then we could just have a single 3 month contract
that resets
Bugpowder: yes but
that is known and predictable
mircea_popescu: suppose diff is above margin
then. all positions = wiped.
Bugpowder: anything
that drops under
that levels gets liquidated
Bugpowder: what about quarter closes, all margin reqs are reset
to
the new difficulty with
the new multiplyer
mircea_popescu: Bugpowder im really very much interested in discussing
this in depth, i
think it's very important.
Bugpowder: but
the buyer may not realize when
the contract was struck
Bugpowder: but with
this collateral scheme, I'm going
to sell for over .097
to protect myself.
mircea_popescu: Bugpowder risk discovery would b easyer, but
the risk of sudden collapse would be notable.
Bugpowder: for example, I was going
to sell for .0888
mircea_popescu: Namjies as in, having a kid can not be considered a promise
to anything nor an agreement
to anything.
mircea_popescu: i mean i guess alternatively i could just shave
the collateral each quarter, and return it.
Namjies: A contract with
the state? What are you
talking about?
Bugpowder: just
trying
to figure it out.... some aspects are opaque
mircea_popescu: that aside, i agree
the system is imperfect for
these reasons, but i see no alternatives.
mircea_popescu: Namjies no, we couldn't. having a kid is NOT a contract with
the state.
Bugpowder: So a price of over 0.097 for
the MAR contract is not a guaranteed loss for an asset buyer on
the open market, since collateral reqs are at 0.28 right now. Will
the buyer be able
to know how many contracts are at
the low and high level? I imagine
that would factor in risk/reward and purchase price calculations
Namjies: Although we could consider
that by having a child, you accept
this possibility and choose
to provide or do something with your child.
mircea_popescu: an inability
to make a kid act exactly
the way you want is in general clear proof you're an idiot.
Namjies: If
the children is unwilling
to behave regardless of what
the parents do.
Namjies: How
they act.
They can't control his brain as far as I'm aware.
mircea_popescu: Namjies how
they actually act or how
they should act ?
Namjies: They can't decide how
they act.
Bugpowder: asset creator has a max loss of
the difference between
the mean collatoral level and
the price he sold it for
mircea_popescu: Well parents can't decide for
their children how
to << whart ?! why not ?
Namjies: Well parents can't decide for
their children how
to act and neither can a kid do for his parent. Left out
to
the means of parents, kids who would be productive with proper education are left out. If we provide but exclude undeserving kids, but
the parent are productive,
they're left with a kid
to provide for, which would also keep
them away from work.
mircea_popescu: i
think we're
talking at crosspurposes. yiou mean for future asset buyer or creator.seller ?
Bugpowder: so
the loss cap for any futures creator is based on
the percentage of new vs. legacy contacts
Namjies: Yes. I'd approve with
the deserving kid part. But
there is an issue with
that. If we exclude a kid for not making any effort/causing
trouble, what do you do?
mircea_popescu: say
there's 90 contracts at margin high, and 10 at margin low
mircea_popescu: Bugpowder
they don't. in case of margins overrun
the contracts are awarded proportionally.
Namjies: I however hardly approve cash handouts and I'm saddened by
the inneficiency of government at providing.
Bugpowder: how will buyers know if
they are getting a contract with a higher limit or not?
Namjies: And on my point of view, I would like
to offer every kid a chance at education regardless of
the parent's means as well as health care.
That would be purely based from personal priorities.
Bugpowder: mircea_popescu Will
the reserve requirements for X.IDIFF.MAR be reduced
to 0.09777BTC/contract and released
to
the buyer following
the close of
this December's future?
mircea_popescu: i don't mind
the experience, really, but it's unconscionable
to pretend like it didn't happen.
mircea_popescu: well, here's it from my pov : we dicked around for 100 years
trying
to make
this welfare state work. it failed, pack it up.
mircea_popescu: but you know, just because something is impossible
to do (large state) doesn't mean you should
try anyway
Namjies: It's also more complex. It conveniently allows
to shift blame on a million other
thing.
Namjies: Well on
that point, everything is easier
to manage when it's small. For large country, where
those in charge can have a hard
time even seeing
the consequence of
their actions... it messes
things up.
mircea_popescu: this works great if we're a village of 100 people and most of
them love
the one guy in charge
mircea_popescu: in all
times and places government is
this "we'll do our best, expect nothing in return" proposition.
Namjies: I was about
to say, don't it all boil down
to what priorities each individual has and what
they are consequently willing or not willing
to pay/be
taxed for?
Namjies: It depends on
the government... not all governments have
the same responsibilities.
mircea_popescu: and
then name one govt person who got into any sort of
trouble for fucking up.
mircea_popescu: i mean, it works once a semester or something. but it can not be
the whole curricula.
Namjies: I've seen high-school/college level
teachers having such
teachings.
mircea_popescu: way, way overdone. college mostly consists of elderly people asking kids what
they
think. who
the fuck cares what 20yos
think ?
they're dumb as rocks by
the very definition.
mircea_popescu: we've
taken
things
too far. much
too far. sure, confidence is a good
thing, kids were opressed 50 years ago etc. but by now it's way overdone.
mircea_popescu: kids
that aren't beaten enough develop
this very superficial "we know shit" conviction, and
then
the result is btctalk lending & usagi financial expertise.
mircea_popescu: this stupidcunt
thinks she may have political opinions ? aged 20 ?
mircea_popescu: ng sector and
the repeal of Glass-Steagall (the financial regulation act
that would have prevented
the financial crisis),
this country has gone down
the drain.
mircea_popescu: “I'm a young and involved activist about
to start my double major in environmental studies and politics, and I'm very, very angry about what is going on in
this country. I blame
this country's problems on
the exploitations of corporations and a blind worship of
the "free market" and "self-regulating capitalism" (Tell me, how does
that work again? Oh yeah, it doesn’t morons). Following
the deregulation of
the banki
mircea_popescu: the principles informing decisions are more important
than
the exact incorporation form.
mircea_popescu: but
this point is amply debatable because in fact large projects require large agents and at
that size
the diff between govt and corporation is mostly academic
mircea_popescu: Namjies im pretty sure if given
the same revenue (80% gas accise + car
tax + etc)
the public sector would be doing a much better job with roads
Namjies: What about public infrastructure? Acceptable
to fall on government's desk?
mircea_popescu: as in, music doesn't suck
today, it's just i have divergent
tastes
to
the world.
mircea_popescu: Namjies if
the money
they spent came from
their work it'd at least be defensible.
Namjies: Ah, but
those idiots who make stars rich still have money.
That means
they either work or get handouts. If we abolish handouts,
then
that would happen regardless.
mircea_popescu: and i guess now i'm
the go
to rightest-wing guy in btc huh.
mircea_popescu: bonafide yes, because
the foodstamp fed multitudes have discretionary spending.
bonafide: and are just as broke as
they were before when
their careers end
mircea_popescu: Namjies
that problem is purely
theoretical
these days.