wywialm: if the losses exceed the insurance fund, the CDS's notional value is diminished proportionally
wywialm: generally, it will look as follows: the CDSs have a specific maturity (possibly matching futures expirations). The person buys the CDS with a discount from the notional value, the proceeds from the sale of the CDS is locked until maturity. If no credit event occurs, full notional value is paid out. if it does, first the insurance fund from the exchange is used, and CDS holders are a last resort
wywialm: this doesn't refer to the CDS-insured variant, does it?
mircea_popescu: these are the canonical objections to this sort of "web exchange, mutually-insured on user funds" things : that on one hand they're an algorithmic noise amplification machine with no dampener available other than the power of prayer ; and that the yessentially implement a lemon market, a sort of competition in deadbeat-ism among the users. which is why they're so popular on reddit, and nowhere else.
wywialm: at present stage, the mechanisms i tried to describe are only capable of making the "short hairy jewish girl" scenario as unlikely as possible. what could make it really impossible, is to issue a CDS on the general liabilities of the exchange. The proceedings from the sale would increase the insurance fund in return for a compensation. If total amount of insurance fund and CDS issued is greater than potential losses, no haircut on profits would
mircea_popescu: wywialm the fundamental problem with this view is that i do not wish to engage in a financial relationship with deadbeat B, where "your site was only an intermediary". i wish to engage in specified, modellable deals.
wywialm: let me refer to your example. first A owns his contracts in the same way B owns them. if A has short positions, these contracts are not fully collateralized. if B's losses exceed his margin (here: 50%), and exchange's insurance fund, in that situation A's profit, but not his initial deposit will be diminished accordingly. in that way, the exchange acts only as a intermediate between the counterparties
wywialm: i didn't certainly revolutionize the electronic derivatives trading industry (nor claimed to), just trying to make a robust bitcoin-based market
mircea_popescu: you can't say you designed something and then keep pulling items from your sleeve as discussion of your design progresses.
wywialm: in fact, the 10% maintenance margin is illustrative only
mircea_popescu: and the "how i picked 10%" is a testament to the whole "copying big boys" thing. there's a reason they use the magic numbers they do.
wywialm: large here means 'large relative to maintenance margin percents', so our size doesn't matter much in this case. if the maintenance margin is 10% then this means that a 10% price jump won't hurt us regardless of our reserves.
mircea_popescu: what happens if A is leveraged 1:1 and owns 100 contracts and B is leveraged 2:1 and "owns" 400 contracts, if that " the auction is triggered" undocumented bug springs into auction ? can A's wholly-owned contracts be touched by B's insanity ?
wywialm: if price moves far enough, the auction serves as a circuit-breaker. Essentially, the only risk lies not in a noisy market or irrational, but in a large, certain but unforseen, and fundamental jump in the price
mircea_popescu: we're not discussing here the ideal case where "the liquidated position is small enough". we're discussing here interesting cases, when you have a noisy market and a bunch of agents that act irrationally.
wywialm: if the liquidated position is small enough, then liquidating on the market is seamless; if it's large, here comes the auction. the orders are gathered during a certain period of time, which may be extended, without time priority
wywialm: returning for a while to the 'market's no good' argument
wywialm: well, certainly the fiat currency system makes the working of derivatives exchanges much easier
mircea_popescu: essentially, you see what the big boys are doing, and figure you'll just do it yourself. except - the big boys can do things BECAUSE they are the big boys, ie, there's bernanke there to "save the economy". you aren't, and i can lean on you. moreover, the big boys don't ever do this 2:1 thing. they do a little margin, and as private financing, which is exactly how you should be doing it also.
mircea_popescu: in any case : this is a rehash of that old http://trilema.com/2014/the-woes-of-altcoin-or-why-there-is-no-such-thing-as-cryptocurrencies/ which'd prolly make good reading.
mircea_popescu: this is the first time i hear of such.
wywialm: from the insurance fund, replenished from commissions
mircea_popescu: and no, you can't fucking liquidate on the market, think about it for a moment. the very reason you are liquidating in the first place is that the market's no good.
mircea_popescu: This in the happy case where the exchange doesn't attempt to autoliquidate positions, creating all the noise surges you could wish for.
mircea_popescu: Bu is now way the fuck underwater, exchange takes his order off also.
mircea_popescu: MP comes in and buys the contract back, at 5.
mircea_popescu: MP comes in and sells 1 X at 10.1. the price for X is now 10.1
wywialm: if nevertheless, the auction price is such that the person's losses exceed his maintenance margin, the exchange covers the losses
wywialm: this means that continuous trading is halted, orders are gathered and order book is balanced
wywialm: second, if it happens that the market will move significantly impacted by this liquidation, the auction is triggered
wywialm: first, if the position holder's losses approach his maintenance margin level, his entire position is liquidated on the market
wywialm: ok, let me take it directly c) no, in no case the actual deposits are used as a coverage. The risk management has following steps:
wywialm: at any rate, margin is unavoidable when one trades in futures contracts - the short leg's losses can always exceed any deposit
wywialm: the long positions and short positions always necessarily must match
wywialm: no, certainly not. c) what do you mean by 'position split' and what is the relation of it to leverage?
wywialm: a) i'll try to proceed to explain everything i know about; b) if that's the case, then indeed i'll try to speak more clearly
wywialm: beggining from the last, c-1) yes, and as far as i remember, you removed a 'scam' warning from them
shinohai: mod6 they sell "crumbs" too so I wonder if a trail of those leads bimbos to your door?
mircea_popescu: and c-1) have you looked into the history of icbit.se which did the exact same thing and its trampling is discussed in early trilema ?
mircea_popescu: wywialm a) you're sure about something you've not explained ; b) you are forcing me to read between the lines which is the opposite of competence ; c) if what you mean is that you steal everyone's deposited cash to do mutually-financed margin, what happens when a position split 50/50 (allowing you, possibly, somewhere close to 2x margin) suddenly moves in choppy trading to 85/15 split
mircea_popescu: was one of the lulzy moments in costa rica, day after landing there, me spends with local bimbos, next day, supermarket, bimbo bread, o.O
wywialm: i'm not sure that i understand what you mean. i offer margin as i believe that the liquidation mechanism (including auction) will make sure that the losses do not exceed the deposits
mod6: <+mircea_popescu> shinohai you ever had bimbo bread ? << first time I saw this in a supermarcado i was like "ha! they don't even know..."
wywialm: so that bitcoin is the home currency
wywialm: all futures and options have fixed USD notional value, each of them is margined separately, though portfolio-based margining is coming soon
wywialm: it utilises two matching models: continuous trading and auction, the latter being triggered around market settlement and around significant market moves
wywialm: to recall main points from the previous exposition: the exchange employs gpg messaging (following the MPEx standards) and allows to trade financially-settled futures and options initially on BTCUSD exchange rate.
shinohai: Bodegas are the only place to get fresh ingredients for anything around here, except when farmer's markets are open.
gribble: The operation succeeded.
mircea_popescu: well, so explain the design ?
wywialm: i designed the exchange, yes - as i said then, all the economic and transactional aspects are designed by me.
wywialm: for all practical purposes, i represent both the exchange and the market making, and it's more than a half year since my announcement. none of this, of course, is meant to imply that you should support anything i have to offer, i just try to clarify
mircea_popescu: the notion that i'd support such a thing is plainly outrageous.
mircea_popescu: what has happened since you first mentioned it to lukewarm reception is that the person doing it has still not done his half year of log reading and humble wot beginings.
wywialm: i did not say that i need this money. also, it is not an offer for investing right now, just a check whether you will find anything interesting in it for you. if yes, i could go into greater detail how this is tested, how is going to be tested, etc.
punkman: phf: so now idiots are going to look at the past couple of months and point at patterns, "where's the 50btc account creations!" << and this was 1 year ago
PeterL: is there any benefit from splitting a transaction into multiple parts? seems like it would be most efficient to just do it all at once?
mircea_popescu: so basically "i have this untested thing we baked together with some greenhorns that aren't in the wot but wouldn't mind using me - wouldn't you like to give us money ?"
wywialm: :) i could invite F.MPIF to join the market making operations
mircea_popescu: squarely ignoring the fundamental part - that they should be left behind, that they're the scum in the engine and the gout in the knight.
a111: Logged on 2016-04-20 16:27 solrodar: but when I first came across it a year or so ago, I got the impression that 2012 was the what bliss in that dawn to be alive
mircea_popescu: http://btcbase.org/log/2016-04-20#1454047 << no. 2012 was the year every dog with a flea in his beard could pretend to humanity. then 2013 brought the requirement to actually not be poor, and 2016 brought the requirement to not be stupid, and common folk are all butthurt over being left behind
a111: Logged on 2016-04-20 16:20 phf: both are fledgling processes, self contained by implicit tmsr rules. as economic activities they could never the less grow and gradually eat more of the outside world
mircea_popescu: http://btcbase.org/log/2016-04-20#1454044 << the principle is sound and very close to home. the unforeseen obstacle is, of course, people. specifically it turns out it's a lot harder than expected to distinguish the people who'd like to be involved from the people who have any busienss being involved. the sad realisation is that the world changed A LOT over the past few decades, and not for the better.
wywialm: the work approaches completion, and in parallel i cooperated with developing market making algorithms on both futures and options
a111: Logged on 2016-04-20 15:45 solrodar: yeah, so I'm not saying it was a ponzi, or any other kind of scam, just that he wasn't being entirely up-front about what was going on
PeterL: or is it only a ponzi once it gets bigger than the operator?
PeterL: I suppose a ponzi could be closed cleanly if done while it is still very small? If the operator kiscks in enough money to close it before it grows bigger than his pockets?
mircea_popescu: it can not. that's the only important attribute of a ponzi - that it can not be closed down cleanly.
mircea_popescu: the reason ponzi collapses is because ~it can not continue~. that's it. if he could have, maddof would have closed down his ponzi cleanly. he can not. if it could have, the usg would have closed down its social securities, or "us financial system" or "real estate values" ponzies cleanly
mircea_popescu: the reason ponzi collapses is not because ~someone wants to~. that's the angle ponzi masters ~push~, and lazy, retarded ignoramuses like yourself lap up.
mircea_popescu: http://btcbase.org/log/2016-04-20#1454022 << you are also using words you do not master the meaning of. successful closure is sufficient and definitive proof something WAS NOT a pyramid scheme. the reason should be obvious, if you're not lazy and retarded. you however are, no matter what your mommy may have mendaciously told you, both lazy and retarded, so let's explain :
mircea_popescu: this isn't something to whine about. this is something to motherfucking fix. starting years ago, but 2nd best - today.
mircea_popescu: it's a sad property of EVERYONE IN BITCOIN that mp is in the classical position of zeus, where if the whole mt olympus picks up the other side of the ring, he can still throw them all over the fucking sky.
a111: Logged on 2016-04-20 15:26 solrodar: 3) and on which practically nothing was traded except the shares of the exchange itself
mircea_popescu: http://btcbase.org/log/2016-04-20#1454008 << look, i understand this "teach plox throw the curve" talk has served you well through life. neveretheless, the fact that you don't see more things, and things made by orther people on mpex is that you personally suck.
mircea_popescu: http://btcbase.org/log/2016-04-20#1454005 <<< it was explained originally and has to be explained periodically [because the flies have infinite hitpoints only in aggregate, as the fly swarm, otherwise live for half a year as individuals] that the principal point of the fee is specifically to keep fees away.
mircea_popescu: in any case - practice prevails. this ("modder people use sql to de") reads to me exactly like "porn people use vhs" did in 1980. it's not that it's over for betamax. it's that "what is this and where's the vhs."
mircea_popescu: it'll never wash. if it washes at some point in some circle, that's proof positive the circle in question is made of shit. maybe more or less invidious shit, depending, but shit nevertheless.
a111: Logged on 2016-04-20 14:56 mats: solrodar: 'i don't understand this financial instrument so the operator must be laundering money'
mircea_popescu: http://btcbase.org/log/2016-04-20#1453984 << new version of "i don't understand how money works so jews must have pact with devil". which is WHAT is the problem with the sort of lowest-possible-effort, deliberately ignorant effort, PeterL
trinque: mircea_popescu: yep, it suffers from having been given an inane syntax, the smell of which drives people away from the relational model
mircea_popescu: trinque incidentally, i received confirmation from a rather unlikely quarter that your "SQL is the DEF" idea is spot on : apparently people in games [modders, people who do the auction websites, etc etc,] have long ago and unviersally agreed THAT is how to DE. pic : http://logs.minigame.bz/2016-04-20.log.html#t07:32:45
shinohai: I am sure Argentine Bitcoiners are laughing at their little Chilenos today.
solrodar: but when I first came across it a year or so ago, I got the impression that 2012 was the what bliss in that dawn to be alive
phf: enough of these self contained but intertwined economic activities (s.nsa and s.bbet hosted on s.host selling parts to ...) and you get something interesting
phf: both are fledgling processes, self contained by implicit tmsr rules. as economic activities they could never the less grow and gradually eat more of the outside world
solrodar: and all those things mean the share price of mpex itself would rise
phf: from that perspective 50btc is just that, if there's a return on it 5 years from now, and continued return after that, you get +ev. more companies get listed today or in a year, list own company, etc.
phf: hence all the talk of berkshire, intentional cultivation of "bitcoin company" values, ideological separation from fiat, tmsr, etc.
solrodar: I'm interested in how the maths could have made sense
solrodar: and he admitted as much when he said "By now its opacity verges on the ridiculous."
solrodar: yeah, so I'm not saying it was a ponzi, or any other kind of scam, just that he wasn't being entirely up-front about what was going on
phf: but membership purchase is the core of ponzi, where's undisclosed source of income is the diversion (like herbalife sales)
solrodar: income from people "buying accounts" when they weren't really buying accounts
solrodar: my suggestion is that that was actually the case
mats: only a poor and unimaginative fella would say the things you did this morning
mats: you used the phrase money laundering.
solrodar: evidently investors did actually get their money back
mats: because you can't possibly conceive of a reason why ~you~ would do it, the activity must be fraudulent?
mats: you think folks wouldn't pay to trade in the stock of a single company?
solrodar: see the circle here?
mats: there is nothing unbelievable about a fee like that being tenable when it is 1) an exchange that has never been hacked 2) operated by someone with a serious presence in the wot
phf: mats: it's the muckraking from b-a spilling over to here
mats: i also don't know what the fee has to do with anything
mats: it got a little harder when mpex stopped offering options, but s.mpoe had a lot of volume for a long time precisely because it was valuable and served as a symbol for the exchange
phf: so whether or not mp is a scammer, the greater framing of this conversation, makes certain allegations not only irrelevant, but also inane
phf: i actually did some maths and was ready to drop 50btc on an mpex account, but held off for the main reason that i don't see a solution (and there wasn't one found) to minor collusion problem. that conversation happened ~last october~ (or whereabouts), it was framed as a hypothetical, but it was a long precursor to chinese miner conferences (that in turn was serious grounds to suspect potential cartel) and all that other stuff.
phf: i'm sure a person who's ready to drop 50btc on a trading account will do ~minimal~ amount of due diligence to confirm that mpex is a viable trading platform ~at the moment~
phf: so now idiots are going to look at the past couple of months and point at patterns, "where's the 50btc account creations!"
phf: that decision had causes that in turn took several months to form and manifest as these things usually go
phf: mats: the "mp is a scammer" crowd is riding on an 18btc bitbet incident, and will continue to do so no matter what happens. remember how everyone was losing their shit, "all bitbet money is gone!!1"
PeterL: I think he meant the 50 btc account creation fee
mats: i assure you, i am a real person, and have received many withdrawals from mpex over the last two years. that are on the blockchain.
PeterL: did he file the AML paperwork for all those account fees? No, therefore must be money laundering!!!
mats: solrodar: 'i don't understand this financial instrument so the operator must be laundering money'
gribble: The operation succeeded.
solrodar: but what I was thinking is, he's got some private arrangement whereby people pay him "account fees" and then get most of that money back in some other manner
solrodar: and then a few weeks after someone notices these alleged payments aren't on the blockchain
solrodar: it looked like the world's first unintentional ponzi scheme
solrodar: did nobody else find it implausible that he claimed to be able to find at least one person every month willing to spend $20,000 for access to an exchange where nothing was traded but shares of the exchange itself?
solrodar: my guess is the whole thing's now just a cover for money laundering
solrodar: PeterL: I doubt there have been any real account fees paid for years
PeterL: so, with the diminished selection of assets listed on mpex, are you going to lower the account fee?
a111: Logged on 2016-04-20 03:11 mircea_popescu: meh. mpex managed to flush the book. everyone is kindly asked to reintroduce whatever orders the had. apologies for the inconvenience.
PeterL: mircea_popescu did you clear the orderbook on purpose?
mircea_popescu: "gee i wonder why a fresh install of X takes 2gb when the package is 200mb ?"
mircea_popescu: anyone watching the system.
shinohai: Trying to work up a hilarious angle on the 123-reg.co.uk lulz this morning.
mircea_popescu: punkman isn't all that buffer-filling shenanigans going to give the show away anyway ?
mircea_popescu: http://archive.is/Nn8ZM << am i the only one that thinks it a little bizarre someone'd pay 80 btc for a site and then do exactly nothing for the next coupla weeks ?!
trinque: but I have the new one eating deeds; a bit more work and deedbot- will not be needed anymore
trinque: davout │ deedbot's dead? << seems to be having some trouble with whatever's going on with freenode these days.
mircea_popescu: o the - one ? apparently.
mircea_popescu: meh. mpex managed to flush the book. everyone is kindly asked to reintroduce whatever orders the had. apologies for the inconvenience.
mod6: mike_c: hey, got thos zocchi dice, and they look awesome. really great edges. i don't have a micromoter or whatever, so i can't really give a good break down at this point. but maybe in the future, will have a more comprehensive report.
mod6: thanks for the update & testing shinohai
trinque: shinohai: if you're gonna use the wallet, you'll probably want mod6's patch for -lows too
gribble: The operation succeeded.
mircea_popescu: mno. at the rate we're going s.nsa is publishing a closure statement early may.
hanbot: going through the logs, http://btcbase.org/log/2016-04-19#1453842 <<->> http://btcbase.org/log/2016-04-14#1451677 ...you gonna to stand for that mircea_popescu?
asciilifeform: as distinct as the roman republic vs empire
mircea_popescu: http://trilema.com/2016/consumerism-is-not-the-answer-though-it-will-put-you-to-sleep-or-american-history-x/#comment-117069 << if anyone cares to recommend the fellow "the book" on soviet propaganda...
gribble: The operation succeeded.
BingoBoingo at this rate expects Jeb Bush to be the nominee
asciilifeform: in other lulz, pankkake reappears?!
asciilifeform: BingoBoingo: i dun give a damn re the gangrene.
BingoBoingo: How are you going to live boat when you haven't hardened yourself to the sight of a manatee gone belly up?
asciilifeform: nonetheless.
trinque: load average is 0.47 on the box, smelly frenchman
BingoBoingo: What about q=Xfoo&q=Y where X and Y are numbers representing the order in which the words were entered into the logs of the channel so the very first word is 1, etc.
asciilifeform: the public key and a single message/signature pair in less than a second.'
asciilifeform: signature is totally insecure: an attacker can recover the signer’s private key from
asciilifeform: 'We have shown that GPG’s implementation of the ElGamal
phf: well, no first one is going to catch both foo bar and bar foo, the second one only foo bar
mircea_popescu: aren't these exactly identical ?
gribble: What Did Civil War Soldiers Eat? - Civil War Trust: <http://www.civilwar.org/education/pdfs/civil-war-curriculum-food.pdf>; Hardtack - Wikipedia, the free encyclopedia: <https://en.wikipedia.org/wiki/Hardtack>; American Civil War Recipes and Cooking: <http://www.americancivilwar.com/tcwn/civil_war/civil_war_cooking.html>
asciilifeform: or from the tarball, originally posted by mircea_popescu (which is where i've been working from for past yr)
asciilifeform: there.
asciilifeform: to which i bolted a cramer-shoup thing, and started out thinking 'i'll reuse the elgamal piece, c-s is after all a variant of elgamal' but nooooo
asciilifeform: ''I don't see a reason to have a x of about the same size as the p. It should be sufficient to have one about the size of q or the later used k plus a large safety margin. Decryption will be much faster with such an x. Note that this is not optimal for signing keys becuase it makes an attack using accidential small K values even easier. Well, one should not use ElGamal signing anyway.'
asciilifeform: related legend: a very drinkin' fella is stopped by a traffic cop. the latter writes a ticket, and says 'be in the courtroom at 2'
mircea_popescu: there is that.
asciilifeform: and i will point out that epochs as implemented in sane places don't partake of the 'time zone' crapolade.
asciilifeform: yeah but the ~reason~ epochal time is seen as 'unfriendly' is precisely because we are so addicted to traditional calendar, no ?
mircea_popescu: a sort of clearsign for the web, if you will.
mircea_popescu: tbh epoch time prolly a bad idea. for one thing - it is fundamentally retarded in implementation and for this reason not actually usable as intended (see discussion as to why it should be UNIVERSAL and timezone applied on top of it not this random variable). for the other thing, it's not so friendly to humans, whereas the urls are intended and expected to be hand-processable.
mircea_popescu: but in general evolution is from tradition to sense, and when multiple sensible approaches are present the owner decides, with or without support from the forum at his option.
asciilifeform: why not epochal date then.
asciilifeform: show me ~something~ useful you were unable to do on account of the old format.
asciilifeform: the old format was HARMLESS
asciilifeform: and there was nothing wrong with it.
trinque: you don't want the numbers in order of magnitude?
asciilifeform: i motherfucking hate this iso thing.
gribble: The operation succeeded.
a111: Logged on 2014-10-01 11:58 mircea_popescu: if i were black in the us i would be fucking worried for my children. being ~10% of the population and >50% of the public discourse is how the hasidim suddenly disappeared from history.
mircea_popescu: in all of this, anyone actually have a link to the discussion in question ?
BingoBoingo: <asciilifeform> what do you take from the coloured dude << Your neighborhood's value.
mircea_popescu: i have no idea why you have so much trouble with the flux of time.
mircea_popescu: "we" are, you and them.
asciilifeform: what do you take from the coloured dude
mircea_popescu: all that's needed is specified physical characteristics that make most of the population ontologically secure.
trinque: you let the federal system fade a bit, and I think there are plenty of roughneck "good old boys" that'll step up and do the killing
asciilifeform: 'they were soooooowwz!111 judge!111'
asciilifeform: trinque: what do i look for there ?
trinque: outside the major cities
asciilifeform: just means it won't happen ~for the stated historical reason~
gribble: Salem witch trials - Wikipedia, the free encyclopedia: <https://en.wikipedia.org/wiki/Salem_witch_trials>; Salem Witch Trials - Facts & Summary - HISTORY.com: <http://www.history.com/topics/salem-witch-trials>; The Trials - Salem Witch Museum: <https://www.salemwitchmuseum.com/education>
asciilifeform: who will shovel the shit ?
mircea_popescu: there's a very specific, well known problem of minorities in a specific percentage with specific societal differences.
asciilifeform: trinque: the 'american hitler' thing's been forecast for ~80y
mircea_popescu: trinque dude, merkuh! the land that sunk when they took ur jerbz. fabulous. you came up with it ?
mircea_popescu: yeah the idea of keeping it tight and narrow might well be best.
trinque: give it a few terms and somebody will be up there screaming about the lost greatness of merkuh, and there will be hoards of ignorant and angry blue collar guys loving it
mircea_popescu: yet after they were accused of stabbing the army in the back, they overthrew the government "without breaking as much as a windowpane"
mircea_popescu: asciilifeform consider zee german folk, that law abiding, king and country worshipping cow that spent the middle ages in the WORST shackles of all, not matched by the blacks in the empire of brazil or by anyone since.
trinque: asciilifeform: check out trump for example; he's easing them back into having good old fashioned political riots
mircea_popescu: the past is no guide.
phf: mircea_popescu: by the way, &from=foo already works, i.e. &from=mircea will only show...
asciilifeform: trinque: i know approximately how many. i also know what they amount to, if past c. is any guide (from waco to mcveigh to the oregon clowns)
phf: mircea_popescu: so i started working on a proper search, but that takes time, since need a query parser and a query compiler, that's maybe 40% done. but i can give you relatively soon an ability to pass multiple q parameters. so it'll be log-search?q=black&q=jews so that those will stack up, i.e. first grep is applied and the second one is used as filter
mircea_popescu: the great black swamp still fills womens' breats with milk. you don't need THAT MANY people to wipe a 12%ish pesky minority.
trinque: man, do you not realize how many rednecks there are in this country?
asciilifeform: i mean, folks don't stuff ~themselves~ into oven, no
mircea_popescu: the pencilnecks don't matter in any discussion.
mircea_popescu: phf so this is not a complaint, but : i really liked the way the log search worked, because : right now i'm searching for that portion in the logs where i explained that the us blacks are kinda like the jews, demographically, and will prolly get wiped.
PeterL: you have been the consistent most verbose person here for years, you probably own all the words
mircea_popescu: holy shit i'm the token tmsr racist.
asciilifeform: i won't even say, will leave it as a jawdropper to the alert reader.
asciilifeform: phun phakt: guess HOW they fixed this.
asciilifeform: 'GnuPG 1.2.3... If you have used ElGamal keys for signing your private key can be compromised, and a malicious keyserver could remotely execute arbitrary code with the permissions of the user running gpgkeys_hkp.'
asciilifeform: from the dept. of definitely-not-news,
shinohai: Some friends I have when the only present I got was booze xD
shinohai: I think I still have a hangover a bit from the weekend.
shinohai looks for Asian therapists that double as nurses ...
shinohai: want me to send an asian hooker up there to "massage" you?
shinohai: Of course it was an inside job - Erik decides he needs to jump on the "We got haxxored" publicity train with all the other Bitcoin "companies".
asciilifeform: 'Should have not fallen for pseudosecurity technobuble talk. Should have gotten second opinions. Should have used established information security frameworks and be extremely suspicious on why they are not being used... ...It is a common misconception that to defend against hacking you must hire a hacker. Perhaps you've been watching that old movie "hacker" and lots of other Hollywood produce too much and believed that crap. In reali
asciilifeform: ve a salary and confidence from that team, and then screw them all for barely enough money to buy a Tesla. Oh yeah, and then abandon a dog to starve alone, likely soon to be put down by animal services.'
asciilifeform: 'Bob betrayed us. He betrayed his privileged position, profiting directly from the destruction of those who trusted him. He stole, lied, ran away, and then after being afforded a period of time long enough to reflect upon his actions, decided to betray us again for a few more scraps in his pathetic bowl. Hackers gonna hack, but it takes a certain variety of bastard to ascend to a trusted position, work face to face with a team, recei