mircea_popescu: a central exchange where people can trade their deeds.
mircea_popescu: i'm kind-of surprised there isn't a localbitcoins but for activists.
cads: It reduces the (essentially context free) summary to that single rhetorically charged statement.
mircea_popescu: asciilifeform roughly for the same reason you don't come to the global warming protest in your car.
cads: The it does this: "In effect, Mt Gox had left themselves wide open to any accusation that they were no different to any other system operating on a fractional reserve basis."
cads: http://therealasset.co.uk/bitcoin-maxcoin/ okay here's the article -- the first paragraph in the section "trouble at mt gox" gives a summary of the mt gox problems - glitches in gox + a bug in bitcoin + trade halt at gox + double counting.
mircea_popescu: i did the exact thing with Trilema posters in Romania five years ago, country was fucking full of stickers and whatnot.
mircea_popescu: BitcoinPropagand http://trilema.com/2013/snsa-cardano-pricing-other-statements/ for instance
mircea_popescu: they want to run illiterate articles in their bullshit rags nobody reads anyway, fine, let's put some paper on their limos.
mircea_popescu: lot of work on the ground.
mircea_popescu: but the facebook angle of "here's some pdfs of stuff we made in illustrator" has little adherence.
BitcoinPropagand: just design and give them for free why?
mircea_popescu: do you actually print and glue those things or just design them ?
mircea_popescu: as the sine qua non for contribution is abjuration.
mircea_popescu: whether elements contribute or don't contribute has no systemic impact
mircea_popescu: bitcoin will prevail in spite of the current hierarchy.
mircea_popescu: nobody asked the fund types.
cads: but if they hear that what's going on is that a trading house is doing a fractional banking scam, that's something that appeals much more to their refined palates
cads: my though was that if money and fund types hear there was a bug that let criminals make off with millions they'd be unlikely to even consider what maxcoin has got going on that makes it 'even better' than bitcoin
mircea_popescu: cads was it also a rewrite of the trilema gox article ?
cads: I don't know enough or care enough about mt gox to know what is going on there, but there was no mention of the bug or the millions lost
cads: hmm, I might have an example of convenient narrative. I read an article of a blogger hyping maxcoin. She claims something about the mtgox situation that I can't quite understand, but seems to level the accusation that mtgox was engaging in fractional banking.
Bugpowder: mircea_popescu: That's the way it is on Twitter
Vexual: hey if it gives a viable story for where the stem cells came from in future findings, it can only be good for science
mircea_popescu: i imagine it'll be a good day when most of the people commenting on Nature are going "hey guise Nature is nasty I am ignoring it hahaha!"
Bugpowder: But the narrative is so sexy... Nature publishes
Bugpowder: Post pup peer review ongoing... nobody can replicate it, now irregularities being discovered in the gel blots...
mircea_popescu: Bugpowder aww and i was eating all these oranges trying t oturn my stomach into an octopus!
Bugpowder: For example, the recent dip cells in acid and they become super stem cells paper in Nature... Bullshit
Bugpowder: This is the problem with scientific publishing too
mircea_popescu: if you optimise for the largest possible counter of "views" it is antieconomical to actually publish intelligent coverage.
pankkake: answer is in the question
Bugpowder: Why is intelligent coverage so hard to come by? Are they actually stupid or are they just building a narrative that is catchy but they know actually false?
pankkake: actually, some pools pay with the block reward
mircea_popescu: the block rewards will be sent to some sort of storage, even if it's just a cold wallet.
mircea_popescu: someone mining on their own will still use a pool.
cads: Bugpowder: I figured it be strange for miners to predominantly sell at the market price
Bugpowder: Although, do they count pool payouts as "being spent"
BingoBoingo: Bugpowder: Because pools have to pay their hashers.
Bugpowder: Oh hey this is kinda interesting.... Almost all NEW bitcoins are spent. http://www.technologyreview.com/graphiti/524796/show-me-the-bitcoins/
Bugpowder: mircea_popescu: Nothing that I have seen. Just likes to blather on about theory of alt coins and bitcoins and VC shit. The whole Andressen Horowitz Twitter axis does it (Chris Dixon, Balaji Srinasivan, and Marc) Not a bad follow though
mircea_popescu: omfg we'll have to put dpaste.com in the fucking topic of the fucking channel because all the fucking noobs can't find it on their own.
cads: Welcome to the twenty-first century."
cads: bacterial plasmid exchange, so fast that, by the time the windfall tax demands are served, the targets don't exist anymore,
cads: automated their legal processes and are spawning subsidiaries, IPOing them, and exchanging title in a bizarre parody of
cads: business news, the US Justice Department is ironically outraged at the Baby Bills. The divested Microsoft divisions have
cads: rehabilitation, the second coming of Mao, who will save them from the consequences of the Three Gorges disaster. In
cads: government with an increased majority in the Duma; meanwhile, in China, fevered rumors circulate about an imminent
cads: cocoa in Belize and books in Georgia. NASA still can't put a man on the moon. Russia has reelected the communist
cads: uploading lobsters into cyberspace, starting with the stomatogastric ganglion, one neuron at a time. They're burning GM
cads: just as bad as ever, but the war on fundamentalism doesn't hold much interest for Manfred. In San Diego, researchers are
cads: ever: They're using this unprecedented state of affairs to harmonize the curvature of bananas. The Middle East is, well, it's
cads: Along the way, his glasses bring him up to date on the news. Europe has achieved peaceful political union for the first time
cads: walk, and the only real hazard is dodging the trams that sneak up on him behind the cover of his moving map display.
cads: keys in the safe. Then he heads straight for the party, which is currently happening at De Wildemann's; it's a twenty-minute
Chris_Sabian_: ...just dont go there
mircea_popescu: who the fuck is rebecca black
mircea_popescu: Bugpowder what's he written on the topic ?
mircea_popescu: and it's incredible there's no titsos yet
WillTablet: Oh the server is ubuntu
BingoBoingo: WillTablet: If you have intense social problems there are few better things to do anyways than pick up a *nix habit.
WillTablet: But it stops when the credit runs out
WillTablet: Okay, what's the problem with it?
BingoBoingo: WillTablet: First work on kicking the MS habit.
mircea_popescu: i guess this makes me like one of the early atc success stories / nouveau riches.
benkay: no time to explain. ask the channel.
mod6: Vexual: they just ban accounts apparently.
mircea_popescu: doesn't the current one support bfg ?
Bugpowder: WillTablet: Depends on where you are on the adoption curve
mod6: So, it's kinda a wait and see situation. Ihave an email into their admins. Will give update when they make good.
WillTablet: Though doing cpu mining with altcoins and then buying BTC seems more profitable
mod6: they banned my account for no apparent reason, and haven't processed my last withdrawl.
Chris_Sabian_: mod6: there is an admin online on openex so you can be able to chat
Bugpowder: People said dogecoin was a joke, but ended up being very profitable for me. Altcoin's great benefit is optionality (look it up, I mean the technical finance term).
mod6: Bug: I didn't have much luck with an order on the book for a week. Try x-bt, market seems to be between 400-500 satoshi
mircea_popescu: cads that's the point of life dood.
cads: hey guys, lemme offer my apologies for stirring up the channel last evening
mircea_popescu: the most inefficient way to process information ever invented.
Duffer1: did you guys ever get the source?
Duffer1: how many mb is the altcoin blockchain up to?
mod6: and as much as i lothe btctawk, read through this: https://bitcointalk.org/index.php?topic=443108.0;all
WillTablet: So I put this in the altcoin.conf?
kakobrekla: why dont we just call pirate do do another round of trust
mircea_popescu: Bugpowder what's wrong with just populating the spot on apocalyptic's thing
Duffer1: use notepad, add your text, name the file altcoin.conf
Bugpowder: We need some way to get in the ATC game. Why can't MPEx provide it?
Duffer1: it's just a .txt you create yourself and drop in the wallet folder
WillTablet: So does this advice have anything to do with the offer of atc
asciilifeform: ur own lord has slaine you. if you yourself had decided to come, with your own hand you have slain your own self.' and thus did the lord prepare for an emissary a tall gilded stake, and sat him down upon it, and to his lord he would send a message praying that in the future he not send to the wise and learned ruler a stupid and unlearned envoy.'
asciilifeform: k to a great lord.' such was the custom of drakula: when an inexperienced envoy came to him, from a king or an emperor, and could not answer the wily questions of drakula, he would be sat upon a stake, drakula saying to him this: 'not i am to blame for your demise, but your lord is, or perhaps you are. for if your lord knew that you are unintelligent and inexperienced, and still sent you to me - a wise lord, yo
asciilifeform: to blame for my demise, but i alone.' drakula laughed, and spoke thus, 'had you not answered as you did, you would have sat down upon this stake.' and the lord ordered the envoy honoured, and gifted, and sent off in peace, with the words: 'you may walk as an envoy from great lords, to great lords, because you know how to speak to great lords; while others ought not even try, but let them first learn how to spea
asciilifeform: ng the noble has dealt with you unjustly, and for him you have prepared a death more stately than for others.' drakula answered, 'you speak the truth. here you are - an envoy of a great lord, a kingly emissary, it is for you that i have crafted this stake.' answered the envoy, 'lord, if i have wrought an injustice worthy of death - do with me as you will. you are an impartial judge - it is not you who shall be
asciilifeform: 'came once to drakula an envoy from the great hungarian king mathias; a noble baron, of polish birth. and drakula did sit and dine with him among the corpses. and the envoy saw before him on the ground, a thick and gilded stake, and then drakula asked of the envoy: 'tell me, for what have i prepared this stake?' fear took hold of the envoy, who thought a while, and spoke: 'seems to me, my lord, that someone amo
mircea_popescu: wasn't it on the forum ?
mircea_popescu: what's the asd/atc rate ?
WillTablet: Can someone just explain what they mean
benkay: WillTablet: you're probably young enough for it to make sense the first time you read it. consider it a blessing!
mircea_popescu: what's the rush anyway.
mircea_popescu: ThickAsThieves probably cause while you were in school, they were cutting class into the schoolmates.
mircea_popescu: re state lemming? Great for the white collar slave, horrible for BTC. You will lose money. Do you think form is above content and as such it's okay to invade foreign countries and slaughter civilians just as long as nobody says shit, piss, fuck, cunt, cocksucker, motherfucker or tits on TV? Great for being an American, horrible for the free world. You will lose money.
mircea_popescu: 4. Step outside of your ideology. You might have been brought up in a very repressive social milieu in which some particular ideological slant was drilled into you. This is working to your disadvantage, get rid of it. Are you sticking up for your friends because they're your friends rather than because they have a point? Great for facebook, horrible for BTC. You will lose money. Are you following the crowd like a welfa
mircea_popescu: 1. Learn the pecking order. All opinions are not equal. Some people are to be respected. Learn who. Some people are irrelevant and easily ignored. Learn who. More importantly than the who, learn why. Is it just because "everyone else seems to think so"? That's no good, forget it. Is it because they were right when everyone else was wrong? That's perfect, especially if it occurs with any sort of consistency.
gribble: Personal responsiblity and the Ponzi scam. - Bitcoin Forum: <https://bitcointalk.org/index.php?topic=106391.0>; How Pyramid Schemes and Ponzi Schemes are Prosecuted in the ...: <http://kschang.hubpages.com/hub/How-Pyramid-Schemes-and-Ponzi-Schemes-are-Prosecuted-in-the-US>; Domestic Taxation - LEHMAN TAX LAW: <http://www.lehmantaxlaw.com/category/domestic-taxation-2/>
mircea_popescu: ;;google mpoe-pr personal responsibility and the ponzi scam
mircea_popescu: WillTablet as the girl explains. didja read it ?
WillTablet: ThickAsThieves: so in order to make a good decision one has to look at what other people do and where that got them?
ThickAsThieves: they are vessels
mircea_popescu: so you are, you'll be forever remembered as the goldstain of some views you didn't even hold.
WillTablet: So any investment is just defined by how its used? Like if all pound coins but one in the world was destroyed, the one pound would become worth more than jhst a pound?
mircea_popescu: and there's no such thing as "views".
mircea_popescu: and who uses them, and for what.
ThickAsThieves: all these coins are just coins, and what makes them different is how people use them, whether they use them, etc
mircea_popescu: Chris_Sabian_ your mistake here is to proceed on the wholly prepasterous cads worldview, whereas that which matter doesn't matter, and that which is left once you're done ignoring what matters can then be counted.
Chris_Sabian_: there are people buying altcoin for 350 - 500 satoshi on 2 exchanges
mircea_popescu: the little boy was a slice of cake!
kakobrekla: the cake is a bill
benkay: the coin is a lie
kakobrekla: WillTablet its the 15th standard.
WillTablet: However, I'm guessing the altcoins were a lie
ThickAsThieves: that there doesnt need to be one for everything to change
WillTablet: What is the point?
ThickAsThieves: that's not the point
WillTablet: Are yoy trying to make a point here? That altcoin is just another random coin that will never be used?
ThickAsThieves: <WillTablet> Wonder what they mean by virtually priceless? /// so do we
ThickAsThieves: <Bugpowder> Where is the alt faucet? /// is this needed for proliferation you think?
asciilifeform: us: 'go with peace. and had you not spoken to me of the ducat, you would sit on this same stake as the thief.'
asciilifeform: ' and ordered that in the whole city the thief be sought, 'should you fail to find him, the city shall perish.' and ordered the same night his old gold placed on the cart - with one added duacat. morning came, the mechant counted the gold, and counted again, then exclaimed: 'i have my gold again, but a ducat is extra!' and then the thief was caught, and the stolen gold brought. spoke drakula to the merchant th
asciilifeform: 'came once from the hungarian lands a merchant to the city of drakula. and, as is custom at his court, left his cart on the city street in front of the house, and his wares - on the cart, and himself went to sleep in the house. and someone did steal from the cart 160 gold ducats. the merchant came to drakula, spoke to him of the missing gold. drakula answered, 'go, this same night you will have your gold again.
cads: hmm, what is this land beyond the wobbles?
benkay: save the houries for chaang-noi
mircea_popescu: benkay it's not really belonging on the list. let people do their own charity personally.
mircea_popescu: help create the world you wish to live in.
benkay: it's nice seeing y'all hash through the requirements of launching an altcoin
WillTablet: Wonder what they mean by virtually priceless?
asciilifeform: rself, these people are martyrs. so i wish to make you a martyr, be in the company of your fellows.' and ordered him sat upon a stake, but the other monk, sent with fifty golden ducats back to the hungarian borders, 'you are a wise man.'
asciilifeform: re martyrs!' drakula called in the other monk and asked him same. he did answer: 'you, lord, are called by god to put to death evildoers and reward the virtuous. as for those upon the stakes, they wrought evil and were justly punished.' drakula spoke again to the first monk, 'why did you leave your cloister in the monastery and walk about the courts of great lords, if you know nothing of the world? you said you
asciilifeform: "came to drakula two catholic monks, from the hungarian lands, pittances to collect. he ordered them brought apart, and called up one, pointed to the yard, where one could see many sat upon stakes, or on wheels broken. he did ask: 'was i just? and who are these people, sitting on stakes?' answered the monk, 'no, lord, you do evil, killing without mercy; a lord must be merciful. and those sat upon the stakes - a
Bugpowder: Where is the alt faucet?
Bugpowder: I knew I should have bought on the dip below $600...
benkay: so how do we get the atc ticker in -assets?
ozbot: X-BT - The new marketplace for trading Bitcoin with Litecoin, Namecoin and Altcoin
kakobrekla: Willy The Kid
WillTablet: The kid
benkay: yeah hey mircea_popescu give the kid some atc
Mats_cd03: buy some atc, its the hot new thiing
benkay: acquire more, don't burn the ones you have.
benkay: and you won't need it to learn the important stuff about not losing your shirt.
benkay: the most complicated thing you'll ever encounter in most practical investment problems is time discounting of money WillTablet
mircea_popescu: if you gotta pray to god for investment purpoises better make sure you pray to the god of the jooze.
WillTablet: Then I should be fine
benkay: WillTablet: far more difficult than when we were taught, but hey this is the real world.
benkay: WillTablet: learning is free these days. take advantage of it.
WillTablet: Might get the pdf as parents would probably be like wtf investing
benkay: and Buffett - the Making of an American Capitalist
WillTablet: Are they heavy reading?
pankkake: ThickAsThieves: yeah, it's a high level of full of shitness. I hope nothing comes out of it, because the real motives probably aren't good
benkay: The Intelligent Investor by Benjamin Graham
WillTablet: They have a market simulator though I suppose the psychological effect is different if its not real money
Mats_cd03: bitpay doesn't work anymore, whining about some signature or other
WillTablet: So basically, the best thing to do with my bitcoins is to forget about them till I see on the news oh BTC is worth £4000 now
benkay: the internet isn't going to teach you anything about investing except via exceptional losses.
Mats_cd03: whats going on with these tx inssues
ThickAsThieves: and did they?
WillTablet: They are giving me something like 3% interest, might be 5 actually
asciilifeform: drakula ordered the man sat upon the stake, taller than others: 'high is this place, you will live free of the stench there.'
WillTablet: I'm actually lending money to them atm
asciilifeform: and plugged his nose and turned his head. lord asked him, 'why do you this.' answered he: 'cannot endure the stench'.
nubbins`: but bitcoin gives my portfolio all the volatility that i need
asciilifeform: translation: 'once dining under the corpses of men, those impaled on stakes, many sat around his table, dining among him and in this taking plasure. servant of his, placing food before him, could not endure the stench,
benkay: your alternative is to throw it away on scams that don't have fees because they're not really businesses.
nubbins`: i think the min deposit is more than that
mircea_popescu: asciilifeform the point there being that there's a point of delinquency where loan packages become unworthy. all this is old fiat finance grease.
ThickAsThieves: considering how ba dthe numbers are
benkay: the fundamental assumption is that a given operation will grow in value faster than btc.
benkay: if you expect to lose it, why bother?
WillTablet: benkay: if that's the case, why does anyone invest? I want to do it as an experiment, and expect to lose it all
mircea_popescu: (course ignoramuses that they are, it was a victorious point of pride)
mircea_popescu: they came out with figures at some point that on average 30% of loans were delinquent.
nubbins`: if there's one thing that speaks to a man's repute, it's his constant need of loans
WillTablet: During the loan period, I will read up on shares and economics
benkay: why not just learn the lesson, WillTablet?
WillTablet: I gave myself a challenge - break even on the $18 worth of server I used to mine about 0.007 BTC worth of dogecoin
mircea_popescu: that'd be the literal.
asciilifeform: the one who knew what to do with turks.
asciilifeform: mircea_popescu: love the ending.
mircea_popescu: they didn't have cgi in the 1800s, and you can almost see how much they'd have liked it
mircea_popescu: asciilifeform technically Mircea însuşi mână-n luptă vijelia-ngrozitoare, Care vine, vine, vine, calcă totul în picioare; is mircea himself leads into battle the fearsome tempest that coming, coming, coming, tramples everything underfoot.
nubbins`: the women?
TATwalking: these are too heavy
nubbins`: the only instance i can recall that a canadian went the other way is when that guy swam from windsor to detroit after slamming 8 beers, to see if he could
mircea_popescu: well no, named after my father.
mircea_popescu: the actual subject is mircea the old, http://istoriiregasite.wordpress.com/2012/06/08/cine-a-fost-mircea-si-de-ce-i-s-a-spus-cel-batran/
nubbins`: TATwalking: unfortunately, we let americans through all the time
TATwalking: that and the Canadian border
nubbins`: it's all that separates us from the savages
mircea_popescu: noty, but i did lel all the way/
nubbins`: well, 1MatthewNWrightIsAScammer was taken
nubbins`: there's what, 2^9 private keys that will generate that address
nubbins`: i was bequeathed some atc and now can't get anybody to follow through!
Apocalyptic: yeah i must admit haven't read the scroll
nubbins`: Apocalyptic, i think you missed the point by about 5km
Apocalyptic: nubbins`, then buy some
TATwalking: I dodge the occasional tree :)
nubbins`: "altcoin: the commodity so valuable that people don't even want others throwing theirs away"
mircea_popescu: he's not a producer, she is a whore, honesty all the way.
benkay: wait i'm no heathen
nubbins`: the fuck is this, an auction?
benkay: pankkake: just transfer the coins nubbins` is throwing away to my account under your mgmt plz
nubbins`: there we go
benkay: and then go home
mircea_popescu: someone prefers sexually conservative parties, somewhere in that africa over there across the atlantic ?!
Mats_cd03: this is the worst thing i have listened to in months
Vexual: altcoin is the plural!
nubbins`: you'll take them if your address starts with 1AltcoinSucksCocks