BingoBoingo: pete_dushenski: Even hobbyist carpenters don't use nails
deedbot: Bugpowder voiced for 30 minutes.
Bugpowder: its been a good week. why not qntra article on how monero is not the one true bitcoin yet?
Bugpowder: Is trilema consensus that monero has some potential value in its feature set?
mod6: uh. i doubt it. can't speak for other tho.
shinohai: As asciilifeform says, I see nothing in monero even worth stealing
Bugpowder: a cryptonote fork that provides user selectable transaction privacy, from public (like bitcoin) to fully private (only sender and recipient know) using ring encryption.
☟︎ mod6: ah, i saw something about that. it said: DRUG DEALERS LOVE THIS!
Bugpowder: Alphabay and Oasis annouced support and the price went nuts
Bugpowder: Although if you look on the sites, only 10% of vendors accept it.
Bugpowder: and if every transaction from supporting vendors was paid with XMR, still only looking at $20,000 / day.
shinohai: Nothing stands out to me as special about, has blockchain bloat, I'd rather use Bitcoin to buy drugs.
Bugpowder: so price is not supported by fundamental use levels now. BUT, you know how price works in this space. Every alt is a tech stock valued on hype and growth potential. And hype is pretty high right now.
mircea_popescu: Bugpowder seems it has some chance to become the next usg-sponsored wanna-be bitcoin thingee. that's usually good for a ride, fed still has a lot of printolade to spread around.
mircea_popescu: though it'd seem they've learned their etherape lesson and are much more conservative on the fiat side. prolly will be more like doge than ethereum. anyway.
Bugpowder: doge and ether never got traction in DNMs.
mircea_popescu: you are aware that "dnm"s are entirely a puppet show by now, yes ?
shinohai: Why would you use ETH in a darknet market? Just huff the shit and call it a day.
Bugpowder: I think its privacy features address some serious potential issues that Bitcoin has with fungability and anon unmasking thorough chain analysis.
Bugpowder: Really. A puppet show? Is AlphaBay an FBI honeypot? A “Playpen” for drug users?
mircea_popescu: but whatever, i'm sure the derps involved think themselves finger-tenting lever clever for it.
mod6: Thanks, Sir. I like it!
Bugpowder: Right, The Playpen operation. But there are so many DNMs, no way they are all honeypots. Now, some may be usgov inflitrated, tor may be usgov compromised, but I don’t think DNMs are driven by usgov.
☟︎ mircea_popescu: Bugpowder sure, and there are so many bitcoin faucets, no way they're all trojan downloaders.
mircea_popescu: of course not. except if they grow big. because what are you going to do, the model doesn't work.
mircea_popescu: in the absence of economic drivers, there will either be a political driver or no movement. which leaves us with the simple explanation. i don't gotta prove that every single individual woman thought of dick up her ass every time she spent too much money on cosmetics.
mircea_popescu: "it just makes her feel ... good. for... herself." surely.
Bugpowder: DNMs provide a service to clients, make money for vendors and the host. The risks are assymetric to the reward, but so is swallowing 50 condoms of blow and flying into the US. Plenty of people’s life circumstances make the reward calculus more appealing than you or I might find.
mircea_popescu: in principle this can be said about anything just as well ; whether that anything exists or doesn't.
deedbot: Bugpowder voiced for 30 minutes.
Bugpowder: In turn, Monero has potential to fix a weak point in DNM function, which potentially provides significant value. Now, whether the tech geniuses that order on DNMs or vendors have the savvy to implement properly and with enough volume to make economic sense is another matter.
mircea_popescu: it's altogether unclear it fixes anything ; the controlling discussion re that is alf's smoke grenade.
☟︎ mircea_popescu: but if you understand this ring signature thing past the buzzword level, feel free to introduce it rigurously and prove that claim.
☟︎ Bugpowder: I haven’t invested enough time to understand and technically defend it. But I know people who are true professional on the subject (pre-Bitcoin “professionalization”) and will solicit their expertise on the current state and on RingCT.
Bugpowder: As for the controlling issue, coopting of the project is certainly a major risk moving forward, but I do think you have too much confidence in the sophistication and coordinatino of usgov.
mircea_popescu: anyway, the allegation is that the "privacy" offered is very heavily time bound ; that it naturally dissipates over time ; and that after a sufficient interval - say a year - one can rely on any and all transaction being no longer at all private. this means that the monero ring signature is in fact an anti-feature : it makes the superficial user (who either foolishly doesn't invest the time ; or otherwise lacks the capacity a
mircea_popescu: ltogether) to detrimentally rely on a property that is temporary when he needs it to be permanent.
Bugpowder: It does worry me, but I put that into the known unknowns category of risks. And pricing risk adjusted EV, still makes sense for me to hold a signifcant crypto fraction in XMR as printer of new bitcoin. It’s harder these days to print BTC without MPOE-bot.
Bugpowder: So are you just chilling in Argentina on the spoils now… or do you have some new business/profit schemes?
Bugpowder: well, let me know when the next interesting opportunity arises.
Bugpowder: Alternatively, a mediterrainian Yacht party would be dope..
mircea_popescu: "This faucet has A LOT of options. Since I don’t have time to write them all down I created a video explaining everything you need to know about the faucet" << this somehow made sense, to someone.
Bugpowder: heheheh don’t they come with the boat?
Bugpowder: getting the wife to agree… harder.
Bugpowder: life good. she forgave me for Just Dice accident. 2 kids now. They are running around outside now… Just need to secure long term funding for work and I’m probably set.
mircea_popescu: still in that biochem thing ? what was it, neurotransmitters ?
Bugpowder: Something like that… neural circuits.
mircea_popescu: anyway, dun too easily dismiss eulora. unlike whatever-dice, it's actually for smart people.
Bugpowder: OK OK. when grant writing is done, I will check it out. Is it like huntercoin? Too bad the dev for that died.
mircea_popescu: but no, it's bitcoin-mmo. and after a year+, playerbase has not yet the slightest clue re mechanics involved.
mircea_popescu: statistics is hard, turns out. especially when god hates your guts.
Bugpowder: I think he died and the project stalled. But my news is a year out of date. Haven’t been paying attention until ETH/ETC… and there is just tooo much stuff in the ecosystem to keep track of these days.
Bugpowder: My thesis advisor also died this week. 64. Smartest guy I’ve met.
Bugpowder: yeah he had a bad stroke a few years ago. Mostly recovered, but may have hit him again on a bike ride.
a111: Logged on 2016-09-03 01:39 Bugpowder: Right, The Playpen operation. But there are so many DNMs, no way they are all honeypots. Now, some may be usgov inflitrated, tor may be usgov compromised, but I don’t think DNMs are driven by usgov.
a111: Logged on 2016-09-03 01:44 mircea_popescu: but if you understand this ring signature thing past the buzzword level, feel free to introduce it rigurously and prove that claim.
a111: Logged on 2016-08-30 17:29 asciilifeform: davout: 'ring signatures' are not the promised 'invisibility cloak', but more of a smoke grenade.
a111: Logged on 2016-09-03 01:44 mircea_popescu: it's altogether unclear it fixes anything ; the controlling discussion re that is alf's smoke grenade.
mircea_popescu: it's a shockingly common complaint, this. you'd wonder wtf they do with all the time they're saving.
jurov: oh, someone pumping xmr?
jurov: btw, aside from above problems, i tried it and it has much worse node problem than btc
jurov: it needs so much iops that it barely keeps up with network even with ssd
mircea_popescu: jurov well, bugpowder. looking for good investments to finance horrible investments. just like usg finance generally!
mircea_popescu: in other news, i'm now getting spam which goes "Dear Influential Individual," for a salutation.
mircea_popescu: whole convo is straight out from the insane asylum. "gotta take care of your things" "oh ok i'll give them to google then"
diana_coman: that online decryption site is anyway cherry on top; had no idea such a thing exists even: give us your private key and we'll decrypt things for you...
mircea_popescu: (for the non-ro elements : romania had a designated place for fertility treatments, sovata. it had some birthing pools, and a wide selection of not-your-husband's dicks to choose from. because yes, most of the time that's the problem.)
deedbot: t2yax voiced for 30 minutes.
deedbot: boolcrap voiced for 30 minutes.
deedbot: t2max voiced for 30 minutes.
mircea_popescu: asciilifeform hm, i guess in context it's not really as shocking as it seemed
shinohai: Funny enough, igolder hasn't existed as a "company" for quite some time.
shinohai: "Since August 1st, 2013 iGolder is no longer accepting new accounts and balances can only be redeemed." <<< 'nuff said
mircea_popescu: $v 50518B983CB759FFE4AF4583F4515FB32B7CC1FC12AA470C29A0F785C62E51F0
deedbot: mircea_popescu rated mihi 1 << Euloran
mircea_popescu: $v A5A790A0F14D576EC34DE654E9DA71AF7228D7C60C02A75B58AF4EAB84C3DD9B
deedbot: mircea_popescu rated VAodminnTer 1 << Euloran
mircea_popescu: $v B213C82336A1D627095F969AEB098750520DDFEC3BE788AFA82CE30755D0F0B8
deedbot: mircea_popescu rated Robespierre_ 1 << Euloran
mircea_popescu: $v 34DC93A70982C1CFB69940607F76969F9CC90CCDDB1B3A446EEE3B5C36A2A8A8
deedbot: mircea_popescu rated sellbtctraderz 1 << Euloran
deedbot: roby_z voiced for 30 minutes.
roby_z: hello mircea_popescu my brother told me about eulora, i'm trying to enter the wot
roby_z: yes, deedbot said my fingerprint is registered
mircea_popescu: in other utter lulz, argentine bank (banco ciudad) takes out half page ad on the back of the main newspaper here to advertise how "tus proyectos no tienen fronteras", because the chief whore started with "proyectos" and now everyone's fixated on that word. the deal they offer ? 36 month loans, libor +5% (no less than 6%) for "grandes empresas" ie, "google's list of sites that we pretend are relevant to all searches" implement
mircea_popescu: ed locally ; and libor +6% (no less than 7%) for "cartera general". in dolars, OF COURSE.
mircea_popescu: who the fuck is going to take credit in dollars in a foreign market, and pay 100x the interest rate ? pretenders, that's who.
mircea_popescu: the state-run bullshits that pretend to be banks are exactly selecting for random idiots who pretend to be entrepreneurs.
mod6: lol. +5%. go jump in a lake.
mircea_popescu: somehow though, businessmen are supposed to go "oh, hey, neat, you pay negative interest to depositors, i'll just continue to pay you 5-10%, why not"
☟︎ mircea_popescu: because what, someone cancelled the "bitch, be happy if i take your money for free" ?
mod6: lol, apparently so.
mircea_popescu: "i don't want your money ; and certainly don't NEED it" "but mp! GOVERNMENT COMPLIANCE COSTS!!!!" "Fuck you."
mircea_popescu: what, that's the plan here, seriously ? someone needs to go back to drawing board.
a111: Logged on 2016-09-03 16:45 mircea_popescu: together, they just want to nobody could have predicted!
davout: pretty good, back to france for the week end
davout: most expensive flight per kilometer apparently this MUR -> RUN
davout: "this is your captain speaking, we've now reached our cruise level and- oh wait, we just started our descent"
shinohai: tfw your shitty eth clone gets replay attacked twice in < 1 month and you say "fuck it!" and switch to PoS.
davout: aren't they all shitty clones of one another?
a111: Logged on 2016-09-03 17:00 mircea_popescu: somehow though, businessmen are supposed to go "oh, hey, neat, you pay negative interest to depositors, i'll just continue to pay you 5-10%, why not"
mircea_popescu: there's no practical use for all this hallucinated "capital" that these alleged depositors own.
mircea_popescu: capital means something, and that someting ain't "i feel this'd be fair"
mircea_popescu: but im sure they'll find some jews to blame. as per sop.
deedbot: ethereumhunter voiced for 30 minutes.
deedbot: ethereumhunter voiced for 30 minutes.
mircea_popescu: mod6 here's something to blow your mind : noob kid in eulora dug up an ord sr claim of mine ; got 65k sr. he's dragging it to town, 1k at a time. he's calculated it'll take him ~4 hours.
diana_coman: $rate shinohai 1 Held many euloran noob hands.
mircea_popescu: yeah september is shaping up to be attendance record for eulora.
deedbot: diana_coman rated shinohai 1 at 2016/09/03 22:20:37 << Held many euloran noob hands.