minersdidit: Deliberately and quite maliciously tried to meld the BleedingHeart openssl vulnerability into the Bitcoin code. The move seemed bizarre at the timei, seeing how there was exactly zero need and pretty much epsilon benefit of implementing such kludge, and given that everyone with a clue involved pretty much agreed PKI is broken beyond repair anyway. To properly understand the implications of this : NSA has had, for two years
TestingUnoDosTre: wheres the ignore button
ozbot: The sins of the group of posers behind the so called “Bitcoin Foundation” pe Trilema - Un blog d
minersdidit: http://trilema.com/2014/the-sins-of-the-group-of-posers-behind-the-so-called-bitcoin-foundation/?utm_source=twitterfeed&utm_medium=twitter
minersdidit: i thought this was suppose to be the smarter chat
Duffer1: misere you can probably skip the bit where minersdidit starts talking up through now, nothing of value imo
BCB: The Silver Bitcoin Wallets are nice
TestingUnoDosTre: they literally can be stolen
BCB: an they I love physical bitcoin.
TestingUnoDosTre: why the fuck would anybody buy "physical" bitcoin
minersdidit: TAT was mirceas nigger for a bit before going off on his own and hawking the latest scams
Trader1333: does bitsimple accept any other methods besides bank wire? i'd use them all day if there wasnt that stupid bank wire fee.
gribble: WARNING: Currently not authenticated. Trust relationship from user thestringpuller to user ThickAsThieves: Level 1: 0, Level 2: 1 via 1 connections. Graph: http://b-otc.com/stg?source=thestringpuller&dest=ThickAsThieves | WoT data: http://b-otc.com/vrd?nick=ThickAsThieves | Rated since: Sat Mar 2 11:19:18 2013
thestringpuller: Trader1333: get in the WoT dude...
Trader1333: $2400 cash in hand last 4 days and willing to buy BTC at bitstamp +1% and have it in hand same day. Its impossible. When market rising and things good could find it all the time.
Trader1333: not against escrow, just wish i had options. i would use coinbase instant buy but they changed their bullshit to only being visa credit cards for backing the account.
Trader1333: hell ill escrow the following week's payments too.
Trader1333: Popescu do you offer a way I can hedge a BTC purchase I make every week on Monday so that it remains the same USD value whether it goes up or down...a futures contract if you will.
Trader1333: i buy BTC on coinbase and want the same USD value come friday whether the value of BTC has gone up 100% or down to $1.
Trader1333: i have no interest in getting out of the trade.
minersdidit: mircea will sell you anything but good luck ever getting out of the trade.
benkay: "THEY'RE MEAN!"
benkay: "TREAT ME LIKE THEY DO BACK HOME RAAARGH"
minersdidit: then what escrow did you want to use?
Trader1333: then got called a scammer and such.
Trader1333: i dont come on IRC after i got thrown out for basically buying and wouldnt accept the chatroom's escrow.
minersdidit: already starting not to pay people out larger then a few K ammounts
minersdidit: any bets up on bitbet when bitstamp goes the way of mtgox?
gribble: WARNING: Currently not authenticated. Trust relationship from user benkay to user Trader1333: Level 1: 0, Level 2: 0 via 0 connections. Graph: http://b-otc.com/stg?source=benkay&dest=Trader1333 | WoT data: http://b-otc.com/vrd?nick=Trader1333 | Rated since: never
minersdidit: yea the bastion of liquidty
Trader1333: know its not the place, but if anyone wishes to sell 6.6 BTC let me know. or a contract to buy $2500 on Monday at whatever bitstamp +1% is.
minersdidit: and silicon valley "tech" and innovation is a joke. they create companies that sell advertisements
minersdidit: that simple fact shows you that the internet failied to deliver the utopia guys like andreas claimed it did
Trader1333: dont have time for the stupid market volatility.
BCB: TestingUnoDosTre, it is in the attached paper http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2423461
Trader1333: problem is this stupid market no one wants to sell. so i figured if i offered a contract to buy at 1% above bitstamp the same amount every week, month to month contract, there would be some interest.
minersdidit: well the internet is a cesspool
minersdidit: losers will always be losers, bitcoin allowed that particular group to get "another chance" to return to silicon valley, hence their constant obsession with conferences
Trader1333: trying to acquire either 5 BTC weekly or $2500.
gribble: Bitcoin's future: Hidden flipside | The Economist: <http://www.economist.com/news/finance-and-economics/21599054-how-crypto-currency-could-become-internet-money-hidden-flipside>; Felix Salmon – The Bitcoin Bubble and the Future of Currency ...: <http://news.rapgenius.com/Felix-salmon-the-bitcoin-bubble-and-the-future-of-currency-annotated>; Bitcoin: The Currency Of The (1 more message)
Trader1333: i am wondering if there is a way to buy future contracts for BTC?
minersdidit: drifted on the internet for a decade until bitcoin came along
minersdidit: im too stupid too and theres no need
TestingUnoDosTre: how long will the openSSL bug persist in everyday use?
TestingUnoDosTre: how quickly was an openSSL bug patched in the bitcoin community when released
minersdidit: how is it laughable, theres persistent amateur bugs discovered
minersdidit: its a circus of amateurs from the last dotcom crash
benkay: read the conformal source. next.
minersdidit: bitcoin developers are poor quality because their is zero incentive to attract proper professionals
Duffer1: minersdiditnobody pays them to sprout up >> have you heard of github?
minersdidit: nobody pays them to sprout up
benkay: reference client isn't the only client
minersdidit: no they wont
minersdidit: the utility sucks. 30% value swings in 24hrs
TestingUnoDosTre: bitcoin utility hasn't budged a bit, but the value has most definitely dropped
minersdidit: bitcoin will be at version 0.92 in a decade with the current developmeant team
benkay: the "it's crazy vix week dot butts! bitcoin is useless!" argument.
benkay: the fundamentals remain.
benkay: the txn net is stronger than ever.
benkay: the crypto's still rock solid.
TestingUnoDosTre: like a coin that you can hack by pealing off the adhesive?
minersdidit: danialbarron its lost what 40% in the last 24hrs alone?
minersdidit: 5 years on the internet with instant information awareness is like 100-200 years
minersdidit: its not my theory, its reality look how bitcoin acts
ozbot: The 10 Most Insane Things You Didn't Know About the Universe | Marvels of the Science | Episode 6 -
minersdidit: bitcoins value is relative to the liquidity pool of bids that is available
TestingUnoDosTre: i lost, and I also lost the 1% by trying to bid last minute
minersdidit: money has to reflect what the economy is doing, which is a fractal it expands and contracts hence elastic
benkay: so make the perfect alt
minersdidit: no it doesnt. the quantity theory of money that bitcoin is based on, guarantees insane volatility
TestingUnoDosTre: mike_c, at least you didn't almost lose .5 btc at the last minute like this guy <-----
Duffer1: capital flight will seek precious metals and other solid commodities imo, btc a bit too
minersdidit: and for every seller of BTC there is also a buyer
minersdidit: 3600 coins per day x 400 is what the miners are being paid in subsidies
mike_c: is there any fiat demand? who wants fiat?
minersdidit: theres not enough fiat demand to support what miners are creating out of thin air everyday
benkay: now or then?
minersdidit: they are getting paid extra for no new work performed
minersdidit: hence its what theyve been doing
minersdidit: miners had obscene margins and every incentive to realize them
benkay: miners got paid 25 bitcoin to move some other number of btc around, plus txn fees
minersdidit: the subsidy is like a $40 per transfer tax
minersdidit: do you see the problem here? as the real value rises so does the cost to run the network
minersdidit: miners now get paid what 1million to secure the same 80k transactions
mike_c: my bitcoin is still worth a bitcoin. except the ones i lost on that stupid $400 bitbet.
minersdidit: @ $1200 a btc miners were being subsidized to the tune of 5million dollars to secure 80k transactions
minersdidit: i dont have to claim anything the evidence is all around you
benkay: <minersdidit> thats beyond your primitive understanding to even bother explaining << tiberius move, iirc
Duffer1: minersdiditand im not talking about fiat price >> yes you are, your btc work will always be worth x btc, the only volatility is fiat market pricing of that work
minersdidit: thats beyond your primitive understanding to even bother explaining
minersdidit: i wouldnt stabalize the price. i just told you, you need something like decentralized discount bills that settle in BTC
benkay: i find that rather satisfying.
mike_c: curious, where would you have "stabilized" the price? $1? $10?
minersdidit: you cant value your work when the meter stick you are using is a rubber band
minersdidit: the price moved what 20%?
TestingUnoDosTre: there are so many fucking bitcoins dropping
Duffer1: simply because the market wants it to?
minersdidit: duffer1 um no you dont work for bitcoins when the volatility is so insane you cant measure what your work is even worth.
Duffer1: minersdiditwhen the market needs bitcoin theres no mechanism to supply them >>> you work for money, that's the mechanism
minersdidit: no for bitcoin to work you need some decentralized system that works on the real bills doctrine
minersdidit: when that wanes out, you get insane volatility to the downside as the algo keeps supplying useless coins
minersdidit: when the market needs bitcoin theres no mechanism to supply them other then the set in stone linear 3600 coins, this brings insane price volatility to the upside
minersdidit: typical bitcoin shill. instantly brings up the fiat strawman that was never discussed in the first place
Duffer1: anyways have you guys heard the great news?
minersdidit: hence the insane volatility
minersdidit: no there arent.
minersdidit: miners create coins regardless of market needs for them, this increases volatility when they drain the liquidity pools
minersdidit: danielpbarron of course they are true. we can observe it occuring
minersdidit: my assertions are baseless look at the price goes from 80 to 1200 back down
minersdidit: its based on quantity theory
Duffer1: you mean you're ignoring the technical superiority in favor of your baseless assertions
minersdidit: when the market demands for money increase bitcoin has no mechanism to supply it and vice versa
minersdidit: ie the supply
minersdidit: im not argueing the superior technicalities
minersdidit: danielpbarron: because economies are fractals they arent linear
minersdidit: 100% gold standard did the exact same thing
minersdidit: yea you arent very bright. the economics are flawed you have insane costs
minersdidit: bitcoin follows quantity theory of money which is flawed.
minersdidit: bitcoins shitty economic algo killed the value
jborkl_: They would be assuming debt also
jborkl_: Mircea , you see the mtgox news yet? Not that is any surprise
gribble: (ticker [--bid|--ask|--last|--high|--low|--avg|--vol] [--currency XXX] [--market <market>|all]) -- Return pretty-printed ticker. Default market is Bitstamp. If one of the result options is given, returns only that numeric result (useful for nesting in calculations). If '--currency XXX' option is given, returns ticker for that three-letter currency code. It is up to you to make sure the (1 more message)
mircea_popescu: there's an altcoind neh ?
SatoshiJack: I hear ya mp... my issue is how to generate the transactions --- and send --- blockr does not provide -- but it's all good -- we are working around :)
mircea_popescu: SatoshiJack there is really no diff between bitcoin and altcoin addy gen. same algo.
benkay: why don't you bring the link
CheckDavid: And I thought the skin was British
ozbot: Bitcoin firms dumped by National Australia Bank as 'too risky' | World news | theguardian.com
midnightmagic: http://www.theguardian.com/world/2014/apr/10/bitcoin-dumped-by-national-australia-bank-as-too-risky ah you mean that. Lame.
benkay: coulda sworn they were different
ozbot: Badger Badger Badger.com The Original Dancing Badgers!
SatoshiJack: I will give you full details in a day or so -- we are going through the code now -- and figuring out what we have tobuild for it --- our big thing is -- how we generate address etc... I need to be able to generate like 1000 or so at a time -- and also to be able to submit transactions similar to how brainwallet.org works with blockchain.info for transaction submits...
SatoshiJack: nope -- I don't think so -- no way to have it autogenerate based on the rules for atc... they will have to add support which would mean tweaking code for determinsitc wallets etc...
jurov: SatoshiJack: brainwallet should work with atc out of the box, no?
SatoshiJack: mp,tat -- you guys need to get some people building around atc! I've tried contacting the Brainwallet.org devs -- but no luck getting them to show atc some love...
mircea_popescu: it matters not that ther world is full of mastodons as long as two mice are fucking somewhere.
asciilifeform: a turd 'by any other name would smell as...'
mircea_popescu: asciilifeform here's the thing : bitcoin finally creates the possibility for natural selection.
asciilifeform: all the buggers had to do was rename it 'pki'
asciilifeform: all the noise people made about key escrow in the '90s - they swallowed it in the end regardless.
asciilifeform: as if ssl were useful if it worked as printed on the box.
asciilifeform: what's the excuse for a blog using ssl anyway?
cazalla: fluffypony: i wouldn't go that far, more like loving adwords and their pushing their own products into every profitable vertical
mircea_popescu: fluffypony my wicked heart smiled when the thing was announced and schneier had to write an article about how he is affected. i on the other side, did not.
bounce: s/here the/here/
ozbot: FairProof.com - the simplest provably fair bitcoin multi-lottery (instant)
fluffypony: https://bitcointalk.org/index.php?topic=287653.msg6159630#msg6159630 <- they're *still* Heartbleed vulnerable
cazalla: sat there, fuck i need a coffee
cazalla: yeah wickedfire which is interesting because I read an article where you said it would attrack the internet marketing crowd and I say there thinking oh top kek that's me
jurov: i suspect hollywood wants to tap the drama
bounce: "higher than a bargaining businessman would-be buyer would bid", then.
fluffypony: mircea_popescu: do they use a jury for financial stuff as well??? geeze...:/
dignork: bounce, not for the buyer
mircea_popescu: no, conservative as in "where did you go to school ?" and other anathema mp-esque questions the child actors of this world abhor.
cazalla: not surprising to see someone like Brock Pierce involved given his history with RMT, he's the 2nd person I've come across in bitcoin that I knew of before Bitcoin, first being voorhees from wickedfire heh
bounce: oh to start a company and requiring all titles to have "derp" in them somewhere.
mircea_popescu: bounce you need to either pay upfront more than the judge evaluates the assets could conceivably fetch, or else execute a credible plan to deliver. and since this is examined by jurists rather than business people (and let alone forum fucktards) the estimates tend to be quite conservative.
samson_: I can't get over the fact that 'Chicago-based SilkRoad Equity' are involved in this...
bounce: not me, explain away. why do they need an "investor group" to pony up one full bitcoin, given that they're not paying the debts outright but planning to pay'em back by running the thing anew?
jurov: The investor group, which includes Brock Pierce, a former child actor-turned technology entrepreneur,
mircea_popescu: jurov that's ok, that's the last anyone'll ever heard of that.
los_pantalones: google the headline
mircea_popescu: three reports they published afaik
dignork: mircea_popescu if i read the history correctly, their report was published once, and long time ago
akstunt600: I never touched them
mircea_popescu: and so this brings us to the spring of 2013, ever increasing pressures and eventually their collapse.
jurov: akstunt600: they will inevitably try it as "Gox"
fluffypony: they should have done it as a coin
mircea_popescu: all through this they were trying to daytrade, and doing it as well as bitcoinica
akstunt600: at least they didnt try to sell goxshares
mircea_popescu: then just as 2013 brought increased prices and revenues, they lost 5mn dollars to the us fed, because karpeles is retarded and doesn't understand when to say no.
mircea_popescu: then they ran at a loss for all of 2012, piling more and more angel round money into a hole.
dignork: mircea_popescu, but nobody knows really, have they ever published any reports?
mircea_popescu: 1. it was created by jeb mccaleb, the douche that recently fucked up kraken, and some other derps, on a shoestring.
gribble: The operation succeeded.
jurov: fluffypony no problem, lay here on the couch and let's latalk
mircea_popescu: fluffypony they never were liquid enough. not ever.
fluffypony: akstunt600: yes, he doesn't keep the coffee hot!
akstunt600: thermos?
gribble: The operation succeeded.
fluffypony: what boggles my mind is that they (mtgox) were liquid enough to pay someone to rewrite everything in a less-crap way, and to permanently employ a bunch of CISSPs (at the very least)
los_pantalones: so, no theories on px move in here ?
akstunt600: like especially if they did like zerocoin styl on 2nd chain
los_pantalones: ever seen that study about how really dumb people don't realize they are dumb
los_pantalones: karpeles selling usbs on the street?
rithm: drinking beer and shit watching the internet burn
rithm: none of the affected are exposed
bounce proposes an ignore-o-meter that'll show who gets ignored by how many others in nice convenient bargraphs
gribble: Currently authenticated from hostmask fluffypony!~fluffypon@geartri.be. Trust relationship from user benkay to user fluffypony: Level 1: 0, Level 2: 0 via 0 connections. Graph: http://b-otc.com/stg?source=benkay&dest=fluffypony | WoT data: http://b-otc.com/vrd?nick=fluffypony | Rated since: Sat Apr 6 08:20:32 2013
fluffypony: maybe he'll show us the sekrit dokumints
mircea_popescu: well no, what i mean is "that's complicated" in the sense of i'm not about to spill it.
robwhiz22: mircea_popescu, I'll try to reach you tomorrow. What is the best time to talk in here?
benkay: how does a stat get signed then?