mircea_popescu: hi all...

mircea_popescu: <BTCHero> funny thing is, he paid me more than I originally gave him before he quit paying <<< omg clawback

mircea_popescu: https://bitcointalk.org/index.php?topic=50817.msg1339857#msg1339857 <<< lmao. apparently after the piece on trilema icbit price suddenly moved a dollar.

mircea_popescu: ahahah

mircea_popescu: kakobrekla ^^

mircea_popescu: <jurov> so they did not figure out to this moment whether you did place an order or not? << this is exactly why the website model does not work too well for exchanges

mircea_popescu: "i did so place an order!" "no you did not!!!" is bs. show me your signed receipt ?

mircea_popescu: that's the way to do it.

mircea_popescu: i disclaim any liability.\

mircea_popescu: personally, i'm looking forward to youtube vids with patrick homeless under a bridge in a few years.

mircea_popescu: that;s a foregone point, it's how he lives anyway.

mircea_popescu: i'll settle for "not improve".

mircea_popescu: ahh gotta love capitalism

mircea_popescu: NO SLEEP FOR YOU

mircea_popescu: lol where's pinkerton

mircea_popescu: https://bitcointalk.org/index.php?topic=125376.msg1340175#msg1340175 someone should point out to garzik that he's making a fool of himself.

mircea_popescu: !ticker s.mpoe

mircea_popescu: under 5 huh

mircea_popescu: WHY!!

mircea_popescu: it's true some people got it as cheap as 9k satoshi

mircea_popescu: let's talk more of it

mircea_popescu: maybe we can see 6

mircea_popescu: indeed.

mircea_popescu: there's not that many actual ways to make money that are in btc.

mircea_popescu: kinda.

mircea_popescu: or satoshidice

mircea_popescu: there's a few businesses and business models that actually make btc revenue.

mircea_popescu: not so many of them

mircea_popescu: sounds abrought right.

mircea_popescu: i mean, abrout

mircea_popescu: later

mircea_popescu: "Of all the offspring of Time, Error is the most ancient, and is so old and familiar an acquaintance, that Truth, when discovered, comes upon most of us like an intruder, and meets the intruder's welcome."

mircea_popescu: that's good.

mircea_popescu: just re-visiting the popular delusions and madness of crowds book

mircea_popescu: BTC-Mining ph got the tag, did you see ?

mircea_popescu: haha rly ?

mircea_popescu: suddenly we comprehend why trade receipts are suck fucking important pieces of info

mircea_popescu: suck = such

mircea_popescu: heh. myea.

mircea_popescu: all the while, inaba is explaining why the nebulous conflartion of gpg, wot and everything else in his head is "marginal"

mircea_popescu: i;ve considered it, but it seems like a lot of trouble for very dubious benefits.

mircea_popescu: the main disadvantage is that a scheme like that makes all transactions traceable.

mircea_popescu: well, let's see :

mircea_popescu: i doubt the exchange's trustworthyness can ever exceed mine. in this sense it would increase it from 100% to 100%, so it's a moot point.

mircea_popescu: the problem of tracing is essential tho. currently money going in/out of mpex is not associable with any user

mircea_popescu: in the m/n scheme money could be followed through the actual transactions, exposing everyone.

mircea_popescu: i can see the argument for using that model anyway, but it would be a catastrophic departure from the current model, so nothing i'd entertain lightly.

mircea_popescu: other points are that the complexity of implementation might perversely make the exchange more attack-worthy (as in, more code that could maybe be fucked up ?)

mircea_popescu: make everything slower and so forth

mircea_popescu: well what's the rush.

mircea_popescu: settled over 11.5 huh

mircea_popescu: have there been any [-]s today at all ?!

mircea_popescu: http://rt.com/news/austerity-protests-eu-solidarity-727/ << 'We have no future!' EU anger unites millions in protest

mircea_popescu: welll... if only they figured out bitcoinz

mircea_popescu: kim el scs

mircea_popescu: lol

mircea_popescu: presseling truth ?! pretty good!

mircea_popescu: that may take a while, seems it's retracing

mircea_popescu: nighty all!

mircea_popescu: http://blog.smickles.com haha smickles has a blog ?

mircea_popescu: soo, what's new ?

mircea_popescu: kickass.

mircea_popescu: in yo face wonderbread.

mircea_popescu: o ? link ?

mircea_popescu: aha

mircea_popescu: a slider bar!

mircea_popescu: in other news, i'm curious if inaba has an aneurism

mircea_popescu: https://bitcointalk.org/index.php?topic=124441.msg1340625#msg1340625

mircea_popescu: maybe just a 1 day 7 day 30 day 365 day set of buttons

mircea_popescu: course now looking at it, i don't understand the depth

mircea_popescu: why does it look like a - and then | ?

mircea_popescu: actual depth seems to be more like \

mircea_popescu: no nm, you're right, there are cliffs around 48 and 52

mircea_popescu: nm nm i was confused.

mircea_popescu: omg why is nobody writing for my contest!

mircea_popescu: is bitcoin bereft of literary talent! are you all stifs!

mircea_popescu: in the cherry thread so far.

mircea_popescu: it did deliver it's weight in lulz tho, did you see that croppo guy go ?

mircea_popescu: ;;google scammer tag

mircea_popescu: first one

mircea_popescu: lol sorry.

mircea_popescu: ;;google "and now for something completely different"

mircea_popescu: http://trilema.com/2012/wikocrisy/ << in which i'm pissed @wikipedia

mircea_popescu: what's hard to beat is intellectual indolence

mircea_popescu: inaba sitting around explaining how he doesn't have to learn to use the wot

mircea_popescu: that sorta thing

mircea_popescu: kakobrekla yeah, bfl pays forum ppl to put them in the signature. i pay forum ppl to put "fuck you sec" in their signature.

mircea_popescu: apparently the difference is lost on most of the population.

mircea_popescu: lol go get em jurov :D

mircea_popescu: la is famous for being a polluted hellhole

mircea_popescu: stylistically this implies that compared to bucharest, la has fresh air going for it.

mircea_popescu: if it's la plus fresh air then that'd mean bucharest has fresh air. quite the contrary

mircea_popescu: if anyone is into judicialspotting : www.judicialhellholes.org%2Fwp-content%2Fuploads%2F2011%2F12%2FJudicial-Hellholes-2011.pdf

mircea_popescu: well yea.

mircea_popescu: so ?

mircea_popescu: lol ok

mircea_popescu: smickles https://bitcointalk.org/index.php?topic=50817.msg1341151#msg1341151

mircea_popescu: did you get a response >?

mircea_popescu: and also... wait for it...

mircea_popescu: http://blog.foreignpolicy.com/posts/2012/11/16/taliban_accidentally_ccs_everybody_on_its_mailing_list

mircea_popescu: twitter lol

mircea_popescu: twitter is sorta like lj for the add crowd

mircea_popescu: livejournal

mircea_popescu: ;;google ADD

mircea_popescu: :p

mircea_popescu: haha tumblr is like wp for the add crowd

mircea_popescu: kuzetsa in truth tho, after a product matures, guarding against feature creep is the main responsibility of the maintainer.

mircea_popescu: apparently the egyptians are about to invade israel

mircea_popescu: like... tonight

mircea_popescu: hah

mircea_popescu: kakobrekla didn't know you were married

mircea_popescu: maybe beat someone else's wife.

mircea_popescu: yes ?

mircea_popescu: a, welcome to the pit. so what exactly is the story with icbit ?

mircea_popescu: the point of most concern is smickles' report that he could not place bids

mircea_popescu: during the half minute or so towards the end.

mircea_popescu: this partial closing of the book is very problematic.

mircea_popescu: when, this ?

mircea_popescu: no rush.

mircea_popescu: November 16, 2012, 07:59:31 PM

mircea_popescu: the event we are discussing is

mircea_popescu: 15NOV12 19:59 At 30 seconds until close, I saw the expected sell order. It was larger than I had expected, leaving about 450 contracts on the book at 10.025. Notwithstanding the fact that his order would not overcome this, I dutifully placed the order Mircea had asked me too.

mircea_popescu: about a day or so before.

mircea_popescu: um. so suppose someone buys 1000 contracts at 10, deposits enough margin for just this

mircea_popescu: price at 20:00 is 5

mircea_popescu: is the position not closed ?

mircea_popescu: but in the example i gave there would not be enough money in the account.

mircea_popescu: let's work in more detail. usd/btc is 10.0. someone deposits 100 btc. with margin, buys 500 contracts at a price of 10

mircea_popescu: next settlement, price is 5.

mircea_popescu: the 100 btc deposited are not enough, are the contracts closed or no ?

mircea_popescu: that has little impact. yes, you only change it 10% a day.

mircea_popescu: but alright, even more complex example

mircea_popescu: monday someone deposits 100 btc, price is 10. they buy 5000 contracts (cause of 5x margin)

mircea_popescu: tuesday price is 9

mircea_popescu: wed it's 8.1, and so it goes until it is 5 on sunday.

mircea_popescu: whether my position was closed or not is besides the point. the part of the article you're discussing is refering the mechanics of the thing, not my own position.

mircea_popescu: but no, it was not closed.

mircea_popescu: right.

mircea_popescu: but again, the point of most concern is that on the 15th the book was closed to some participants, but not others.

mircea_popescu: this would naturally lead to an inference against your site.

mircea_popescu: exactly to expose the scam ? why else ?

mircea_popescu: it's not the isp.

mircea_popescu: yes, a typical limit order can be put in any time.

mircea_popescu: but if one suspects that the sellout happening just before closing is not legitimate

mircea_popescu: one wants to verify this.

mircea_popescu: not really. the allegation is that you close the book for customers at 30 seconds before 20:00

mircea_popescu: then do some fake trading, then reopen the book 10 seconds after 20:00

mircea_popescu: it possibly gives you a profit through the mechanism delineated at the end of the article,

mircea_popescu: but whether it does or it doesn't isn't really relevant

mircea_popescu: that's fine.

mircea_popescu: you're joking, right ?

mircea_popescu: smickles i have no idea.

mircea_popescu: i think he just got blindsided. he thought bfl is the greatest business in btc

mircea_popescu: an easy mistake to make, everyone thinks his kids are the smartest.

mircea_popescu: _Fireball it makes zero sense because a. it's not clear if you mean per day, week month, year

mircea_popescu: and because it doesn't seem to be updated.

mircea_popescu: and for other reasons.

mircea_popescu: "all trades are logged" you say. where ?

mircea_popescu: yes well, other than glbse nobody does this.

mircea_popescu: volume is reported by a fixed time interval. like a month, or a day.

mircea_popescu: i understand _why_ you do it this way, if you said 40 BTC/day it would look poor but honest, but anyway.

mircea_popescu: but we're not discussing that.

mircea_popescu: i didn't say the chart makes zero sense.

mircea_popescu: (tho i could have said it makes zero sense to put charts behind a pw)

mircea_popescu: the article stands on its own, as far as i can tell.

mircea_popescu: sigh.

mircea_popescu: alright, carry on.

mircea_popescu: no, actually, in general scammers do come to me with a head full of steam in the first pass

mircea_popescu: because they fail to realise that i employ people, that i've had the affidavit vetter by trade engine experts before posting and on and on

mircea_popescu: people imagine i'm like them.

mircea_popescu: smickles yet again the problem with the website model. customer says X. site says Y. how do we verify this ?

mircea_popescu: weren't you complaining earlier you didn't get any mail ?

mircea_popescu: it has to be one or the other you know.

mircea_popescu: there's no such thing as absentee blackmail.

mircea_popescu: rather than posturing you'd be much better served by addressing the actual points.

mircea_popescu: chief among which, where are your trades logged ?

mircea_popescu: that you close the book half a minute before daily settlement, that you then proceed to execute fake trades on your own account, that you then reopen the book after daily settlement cutoff

mircea_popescu: listen. is there some event occuring on your site every day at 20:00 ?

mircea_popescu: yes yes. you settle daily inasmuch as you keep moving margins around.

mircea_popescu: ignoring the fact you've got your terminology borkt.

mircea_popescu: dear old wikipedia.

mircea_popescu: basically you output them to a twitter channel and the bot sucks them from there.

mircea_popescu: umm what did i miss ?

mircea_popescu: lol cool

mircea_popescu: thestringpuller how would you even know what their revenue was ?

mircea_popescu: yaya

mircea_popescu: Revenue : 12`755.59310383 BTC, of which :

mircea_popescu: that's s.mpoe for october.

mircea_popescu: seems to be a little over 1.2mn per year.

mircea_popescu: ;;ticker

mircea_popescu: ;;calc 12755.5931038 * 12 * 11.66

mircea_popescu: moar.

mircea_popescu: thestringpuller https://bitcointalk.org/index.php?topic=64962.80

mircea_popescu: ya srsly, no "no compete" clause ?!

mircea_popescu: thestringpuller o, on mpoe.etf ?

mircea_popescu: ;;google mpoe.etf

mircea_popescu: thestringpuller thought we were discussing revenue ?

mircea_popescu: a ok

mircea_popescu: well, the profit varies wildly for mpoe, but it's never been more than 40%ish of revenue so

mircea_popescu: pigeons right. like you would be :D

mircea_popescu: i don't.

mircea_popescu: i wasn't particularly serious either, just saying, not like the mob advertises

mircea_popescu: "this illegal business protected by teh mafia"

mircea_popescu: besides, "the mob". there;'s what, fiddy billion factions. i don't think they even know anymore.

mircea_popescu: still, the one point of concern was that their weapons store closed for lack of business.

mircea_popescu: this may seem to indicate they don't really have much clientele. it could be just puffery, buncha kids selling bath salts and pills.

mircea_popescu: note that i have no idea and don't really care either way.

mircea_popescu: ya but practically speaking, too easy to run a sting.

mircea_popescu: the market for narcotics is a very tough racked to break into.

mircea_popescu: why ?

mircea_popescu: lol!

mircea_popescu: ;;bc,eur

mircea_popescu: ;;google eur usd

mircea_popescu: ty!

mircea_popescu: see pigeons, smickles bought Trilema credits :D

mircea_popescu: if you read a buncha posts it pops this paid content thign

mircea_popescu: 5 a week ya

mircea_popescu: yeah

mircea_popescu: i actually am the first guy online to charge for content

mircea_popescu: the system is in place since like 2010

mircea_popescu: thestringpuller sure.

mircea_popescu: if it's worth the 0.05 cents to you or w/e

mircea_popescu: thestringpuller the theory goes that some mysterious "manipulator" who had been keeping the price low on the site is losing all the money. not the site itself.

mircea_popescu: lucky that after wreaking havoc for a while he was scared by a trilema article.

mircea_popescu: also, http://ist1-1.filesor.com/pimpandhost.com/1/_/_/_/1/1/d/m/P/1dmPZ/arch.jpg

mircea_popescu: thestringpuller http://trilema.com/2012/icbitse-the-bucket-shop/

mircea_popescu: i don't know that many bitcoin bears.

mircea_popescu: _Fireball well in this case, the frequency of bitcoin bears is limited by the fact that people who have bitcoins tend to believe in them too, or else they'd have never bought any.

mircea_popescu: surely.

mircea_popescu: people can short 100k bitcoins synthetically via options on the spot, and probably about the same in traditional borrow-short positions over the otc if they are well known

mircea_popescu: why would anyone want the 1 dollar slippage ?!

mircea_popescu: you are proposing the theory whereby "someone" sold btc all the way to 10.02 YESTERDAY. his position covers a few hundred btc.

mircea_popescu: if he's looking to hedge there's better avenues.

mircea_popescu: dude, srsly. you're wasting your time.

mircea_popescu: well, do it five times, who knows, maybe repeating it helps.

mircea_popescu: heh srsly. you were just blown to bits and you're gonna what, bite my arms off ? bleed on me ?

mircea_popescu: get real.

mircea_popescu: i just watched life of brian earlier

mircea_popescu: there's this scene where the roman guard makes him fix his spelling

mircea_popescu: cause it's not domus!!!

mircea_popescu: actually... http://polimedia.us/bitcoin/faq.html#33

mircea_popescu: i been waiting for this soo long...

mircea_popescu: sooo updated the faq! check out my fancy awards! http://polimedia.us/bitcoin/faq.html#33

mircea_popescu: why didn't he like me anyway ? i was nice enough...

mircea_popescu: azelphur is very lazy boi!

mircea_popescu: but anyway Doffx you missed out on all the drama&outrage earlier.

mircea_popescu: lol

mircea_popescu: guy was a couple steps from provoking me to a duel

mircea_popescu: or breaking out in tears.

mircea_popescu: he is a cool guy, but lately he's all but dissapeared.

mircea_popescu: why can't he have found a gf

mircea_popescu: sleep is for women

mircea_popescu: http://polimedia.us/dtng/c/src/135318695394.jpg

mircea_popescu: im starting to think my driver sucks