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thimbronion: Still parsing/re-reading your above comments btw.
BingoBoingo: thimbronion: It's alright. As best as I can put my finger on the problem with making "synthetic commodities", the core is that the following inflation makes industry impossible. Consider the trilema futures simply put again. What happens to the iron miners and blacksmiths if there's a bunch of paper iron fucking up price discovery?
thimbronion: Is the idea that Bitcoin futures on CBOE are a synthetic, just as they were on icbit?
BingoBoingo: thimbronion: That's not certain. I don't have enough information to say at this point.
BingoBoingo: However, the fiat powers that would be decide to aim their USD printing press at a bitcoin futures market and drive those instruments in a way grossly detached from Bitcoin price movements, the temptation to make "paper Bitcoin" could emerge
BingoBoingo: Anyways, it
thimbronion: Hm, I suppose with a printing press your margin can be rather large, if I'm using that term correctly.
BingoBoingo: 's attacks along these lines that make "securing the bitcoin network" involve having a healthy financial scene on top of having clean code
BingoBoingo: thimbronion: Well if you have the printing press, and the market's just USD on all sides, you can sink a lot of USD into attacking the Bitcoin price signal
BingoBoingo: It would be expensive, but for a dying empire...
BingoBoingo: Anyways, it's pretty much the Mt Gox problem, and if it takes off it has the same failure mode.
BingoBoingo: thimbronion: Good piece, this time you may have cut a bit much in leaving out why the USG wasn't happy with this Hu.
thimbronion: Hm yes I see what you mean.
thimbronion: Perhaps sacrificed too much detail to the theme
BingoBoingo: Still good lulz. There's just that balance between keeping the text tight and making sure everything material makes it in that takes practice.
BingoBoingo: Even without what the case was about, there's still some lulz in "USG locks up Chinese Tennesee University professor"
BingoBoingo: That they locked him up for what doesn't appear to have been a particularly hidden double affiliation adds a lot of bite.
thimbronion: I love messing with the Area Man bs that MSM tries to pull all the time.
BingoBoingo: Yeah, it's a meme that's got some hook to it.
thimbronion: Hm yea true he was probably like - well it's on my resume...
thimbronion: Everyone else is doing it, etc
BingoBoingo: Hadn't been a problem for years and then all of a sudden the USG starts caring about rules it hadn't previously
thimbronion: Also was cool to be able to find his exact salary
BingoBoingo: Next week if you want to play with the "Area Man" meme, "DC Man" or "California Man" could be interesting prompts
thimbronion: Indeed. California man should be a thing.
BingoBoingo: Depending on which one, you may need to do the "scare quotes" thing around "man" seeing how it is California
thimbronion: yes agreed
thimbronion: BingoBoingo: receive is mispelled in the Tennessee story
BingoBoingo: tyvm, fxd
thimbronion: Stock futures halted.
BingoBoingo: Going to be a lulze fucking Monday
thimbronion: "ok guys can you stop trading"
BingoBoingo: brb, going to stretch the legs a bit
← 2020-03-07 | 2020-03-11 →