Forum logs for 08 May 2012

Saturday, 23 November, Year 11 d.Tr. | Author: Mircea Popescu
* Now talking on #bitcoin-otc-eu [03:16]
* Topic for #bitcoin-otc-eu is: Eurozone #bitcoin-otc || http://bitcoin-otc.com || Include hash tag #eu in order notes to group -eu orders. || View all tagged -eu orders here: http://bitcoin-otc.com/vieworderbook.php?notes=%23eu || Exchange rates: !bc,convert CURRENCYCODE || GET BTC WITH ukash/paysafecard ... /msg neliskybot help || options-> http://polimedia.us/btc || bitcoin hosting -> http://bitvps.com/ [03:16]
* Topic for #bitcoin-otc-eu set by kakobrekla!~T42@89-212-41-49.static.t-2.net at Fri Apr 20 21:40:27 2012 [03:16]
mircea_popescu hey rg, you lied to me [03:18]
mircea_popescu Could not connect to remote server [03:18]
mircea_popescu You tried to access the address http://us.glbse.com/, which is currently unavailable. [03:18]
rg nefario is working on it now [03:19]
rg trying to decrease load times [03:19]
rg between us->www [03:19]
rg according to bitcoin-assets anyway [03:19]
mircea_popescu dude wtf. [03:21]
mircea_popescu i been trying to read dividends for two days nao [03:21]
mircea_popescu ppl will start throwing rocks at me [03:21]
mircea_popescu but anyways. [03:22]
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mircea_popescu ok, so new data says romania is #5 in the world for consumer internet speeds, with 25.8Mbps. [04:56]
mircea_popescu also #2 in the world for consumer internet costs, with 0.93 usd per mbps. [04:56]
mircea_popescu dja hear that mcorlett ? [04:57]
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mcorlett mircea_popescu: What now? [05:19]
mircea_popescu ^^ [05:19]
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mcorlett Still, it's the friggin' Democratic People's Republic of Romania, man. I wouldn't touch it with a ten-foot pole. [05:22]
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mircea_popescu it's not ? [05:29]
mircea_popescu it's just the republic of romania [05:30]
mcorlett Whatever you say, Mircea. Whatever you say... [05:35]
mircea_popescu you must be thinking about the united socialist states of america ? [05:36]
vragnaroda :( [05:41]
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* Now talking on #bitcoin-otc-eu [14:12]
* Topic for #bitcoin-otc-eu is: Eurozone #bitcoin-otc || http://bitcoin-otc.com || Include hash tag #eu in order notes to group -eu orders. || View all tagged -eu orders here: http://bitcoin-otc.com/vieworderbook.php?notes=%23eu || Exchange rates: !bc,convert CURRENCYCODE || GET BTC WITH ukash/paysafecard ... /msg neliskybot help || options-> http://polimedia.us/btc || bitcoin hosting -> http://bitvps.com/ [14:12]
* Topic for #bitcoin-otc-eu set by kakobrekla!~T42@89-212-41-49.static.t-2.net at Fri Apr 20 21:40:27 2012 [14:12]
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jurov !bc,convert eur [15:58]
gribble 1 BTC = 5.00067 U.S. dollars = 3.8428264 Euros [15:58]
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mod6 srsly? [19:47]
mod6 (09:16) <+`MBot> [ GLBSE ] [ TRADE ] [ 4CHAN ] [ 1000 @ 0.00005 = 0.050000 BTC ] [19:47]
mircea_popescu lmao [19:47]
mod6 i literally did a double take when that one went by me on twitter. [19:52]
mircea_popescu i didn't know 4chan actually made money. [19:53]
mircea_popescu maybe they pay dividends in lulz/used sharpies/etc. [19:53]
mod6 HAHAH [19:53]
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mcorlett There's a guy called "Genesis_Cock_Block" on reddit. [20:02]
guruvan mircea_popescu: it's an "event future" lol - basically a bet on wether or not 4chan is gonna put up a bitcoin image board [20:02]
mcorlett guruvan: Seems legit... [20:03]
mircea_popescu guruvan i'm guessing many more people are practicing finance than understand the terminology [20:03]
guruvan lol. practice makes perfec, right? [20:03]
mircea_popescu doctors have it easier than bankers in this respect, [20:05]
mircea_popescu at least the doctor's failed experiments are silent. [20:05]
guruvan mwahaha! [20:06]
mircea_popescu but seriously, 4chan is owned. what the fuck sense does it make to bet on whether a guy does something. [20:06]
drizztbsd now we need bitcoin cats! [20:11]
drizztbsd :D [20:11]
mircea_popescu no, what you need is facebook implementing some sort of forum currency [20:14]
mircea_popescu "currency". [20:15]
drizztbsd facebook uses a currency [20:15]
guruvan whatever happened to "Facebook Credits?" [20:15]
mircea_popescu bitcoin is so inadequate for the needs/abilities of what looks like about half the userbase by now... [20:15]
drizztbsd google checkout should support bitcoin [20:15]
* guruvan deleted his facebook account and sent facebook.com to the blackhole [20:15]
guruvan drizztbsd: so far Eric Schmidt thinks it might be illegal [20:16]
mircea_popescu guruvan : the day you die you will prolly receinve 500000 spams. [20:16]
drizztbsd why? [20:16]
guruvan hmm. - that wasn't clear - there's a video w/ him, and a little blip where a guy from "FairCash" gets up to ask him to look at their produc. [20:17]
guruvan Eric asked if the guy had heard of Bitcoin [20:17]
guruvan and the guy was all "meh....so" - Eric's eyes got wide, like "seriously, you think little of bitcoin?" [20:17]
guruvan and then made some remark about Gogole thinking p2p decentralized money might be illegal [20:18]
ckshock its not money... [20:19]
mircea_popescu wtf is "faircash" [20:19]
mircea_popescu cause it sounds like something sprouted from a deffective mind. [20:19]
drizztbsd bitcoinica is officialy licensed [20:20]
guruvan more -emoney - centralized - and yeah - I didn't think much when I looked into it [20:20]
drizztbsd by USA government [20:20]
drizztbsd so it's a FUD [20:20]
mircea_popescu srsly, eric schmidt is not fuding bitcoins. [20:20]
guruvan no, by New Zealand govt, [20:20]
ckshock in my mind bitcoin is only about transactions [20:21]
ckshock nothing else [20:21]
guruvan http://faircash.org [20:21]
guruvan ckshock: teh FBI thinks it's "currency" [20:21]
mircea_popescu You always are welcome here! [20:21]
mircea_popescu Management of payment operations has already become mission critical. For plenty reasons business cases are being transferred from the physical world to the Internet. [20:21]
mircea_popescu no, see... [20:21]
mircea_popescu this is typical for what i was saying above. [20:21]
mircea_popescu using words does not make you a pro. [20:22]
ckshock guruvan:the FBI thinks whoever downloads Anarchy cookbook is terrorist [20:22]
ckshock and they are right about currency [20:23]
ckshock :D [20:23]
guruvan http://www.reddit.com/r/Bitcoin/comments/qblwb/video_of_eric_schmidt_talking_briefly_about/ [20:23]
ckshock but only as medium of exchange [20:24]
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ckshock who can explain to me why bitcoin has floating exchange rate? [20:48]
mircea_popescu ... [20:48]
mircea_popescu would you prefer them sinking ? [20:48]
ckshock hahahaha [20:49]
ckshock you are right [20:49]
* drizztbsd wants 1 BTC = 30$ :P [20:49]
drizztbsd like the old times [20:49]
ckshock it doesnt matter actually as long as it is fixed at 1 btc at 30 [20:50]
guruvan meh - 100 satoshis to the dollar! :) [20:50]
mircea_popescu guruvan or the iother way round. [20:52]
mircea_popescu i think 1bn per bitcoin isn't too bad a deal. [20:52]
guruvan :D [20:52]
guruvan (I was trying to be.......conservative) [20:53]
ckshock when thinking about bitcoins and free floating fx rate ,I can only think it as a new country(new market) with new currency [20:55]
Mqrius I'll sell you 100 satoshis for half a dollar [20:56]
ckshock otherwise whats the point of having fx rate?if you dont have a new internet country? [20:57]
ckshock not to mention that the guys who made it first are super rich now [20:58]
mircea_popescu i fail to see the relevance of the concept of country. [21:04]
mircea_popescu it's like asking people what 1500s guild they're part of. [21:04]
ckshock would u see relevance if I say new market [21:06]
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ckshock when I say country is because I need to have in mind why currency appreciates [21:06]
draco49 wassup mircea_popescu :) [21:07]
mircea_popescu o whoa look who's here [21:07]
mircea_popescu dude draco49 like a buncha ppl were lookin fer ya. [21:07]
mircea_popescu ckshock : its supply and demand. people wanting to sell are the supply. [21:07]
mircea_popescu people wanting to buy are the demand. [21:07]
mircea_popescu that's all. [21:07]
ckshock to buy what from what? [21:07]
mircea_popescu to buy bitcoins. [21:08]
ckshock people want the currency to buy goods [21:08]
draco49 lol yeah I got in touch with everyone [21:08]
mircea_popescu mno. [21:08]
mircea_popescu most people who buy bitcoins buy to keep actually. [21:08]
mircea_popescu store of value is the more important aspect of a currency anyway. [21:08]
ckshock actually I think its the medium of exchange [21:09]
ckshock if you store it you think it will appreciate more than other goods, why dont you store food or whatever [21:10]
ckshock why is everyone everywhere forget the real economy in finance [21:13]
ckshock you talk about speculation and not fundamentals [21:13]
ckshock i think [21:13]
ckshock if there was no people wanting to demand bitcoins to get goods from bitcoin country,why on earth would someone wanna demand bitcoins to store value [21:15]
guruvan once upon a time, food = money. literally grain. Because grain rots, it's not a very excellent store of value. So we moved to metalsls. But those aren't a very good medium for exchange (too heavy) so we made paper. - it's got to work for both or it's not very good as "money" - bitcoins are good money [21:15]
ckshock like your historian perspective of course absolutely [21:16]
guruvan people ten to hoard "good money" and spend "bad money" - right now, the paper/fiat money is "bad" money to most - and so it's spent [21:16]
ckshock dont forget everyone eat food,everyone wants metals [21:16]
guruvan not everyone wants metals [21:16]
ckshock it is accepted by everyone is bitcoin accepted everywhere? anyway I wanna focus on your arguemnt [21:17]
ckshock if bitcoin country expands so big then YES [21:17]
ckshock explain please good money bad money [21:17]
ckshock bad money because it is inflationary what do u mean? [21:18]
ckshock it is meant to be spent and not hoarded [21:18]
ckshock another issue ... [21:18]
mircea_popescu may i suggest #bitcoin or maybe possibly even the forum for all this? [21:19]
guruvan .W GRESHAM'S LAW [21:19]
guruvan .w gresham's law [21:19]
markac Couldn't get any definitions for gresham's law. [21:19]
guruvan ;;google gresham's law [21:19]
gribble Gresham's law - Wikipedia, the free encyclopedia: ; Gresham's law (economics) -- Britannica Online Encyclopedia: ; Gresham's Law | Economic History Services: [21:19]
guruvan ckshock: gresham's law describes good/bad money and how they're typically used [21:20]
guruvan mircea_popescu: yes you may :D [21:20]
ckshock ty but still that doesnt prove my theory of a country wrong [21:22]
ckshock only if you suspect that USA will someday accept bitcoin as currency [21:22]
ckshock yes ok do your otc thing :) and show me the moneyyy!! [21:22]
ckshock when it collapses or bubble we ll talk economics [21:23]
ckshock ;) [21:23]
ckshock and lets see what happens when that country is invaded what will happen to bitcoins [21:25]
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rg where the hell is slush [23:59]
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