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Author Topic: Perhaps some good can come of a BS&T default.  (Read 2197 times)
Ferroh
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August 23, 2012, 04:33:02 AM
 #1

I see about 16 orders visible on mtgoxlive at the moment, all for about 4000 BTC each, distributed very evenly.




Assume for a moment that pirate defaults (whatever you may think about the situation).

It has occurred to me, that if the community writes a simple trading bot for pirate (or really, he could write it himself since it would be a very simple bot), maybe pirate could at least use his BTC to help stabilize the price.

He probably wants to sell a bunch of his BTC it anyway, and he could choose to sell off during sudden price spikes only, and keep the market depth reasonable.

At least then some good would come of BS&T.
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proudhon
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August 23, 2012, 06:21:39 AM
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But where's the fun in that when you could whip the price back and forth.
NothinG
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August 23, 2012, 06:24:16 AM
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But where's the fun in that when you could whip the price back and forth.

Hunterbunter
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August 23, 2012, 07:29:33 AM
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What good came from Madoff, or the original Ponzi?
Matthew N. Wright
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August 23, 2012, 07:30:35 AM
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But where's the fun in that when you could whip the price back and forth.


Oh my god I laughed so hard.

0mzUBBru
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August 23, 2012, 09:38:54 AM
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But where's the fun in that when you could whip the price back and forth.
It may be fun, but it will still (most likely) cost you money to do so.
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August 23, 2012, 07:55:21 PM
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The good that will come out of a Pirate default is that the Bitcoin economy will undoubtedly survive it unscathed, therefore once again proving that it's here to stay for the long term.  

To those who believe in free markets, Bitcoin's history so far is a good example of how an unregulated transparent market actually learns and gains resilience from crises.  As opposed to the "real world" crony fractional reserve moral hazard economy where crises and imbalances are swept under the rug until they get so large that they become structurally unfixable.
Ferroh
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August 24, 2012, 04:03:10 AM
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The good that will come out of a Pirate default is that the Bitcoin economy will undoubtedly survive it unscathed, therefore once again proving that it's here to stay for the long term.  

To those who believe in free markets, Bitcoin's history so far is a good example of how an unregulated transparent market actually learns and gains resilience from crises.  As opposed to the "real world" crony fractional reserve moral hazard economy where crises and imbalances are swept under the rug until they get so large that they become structurally unfixable.

That's another good benefit. I see no reason to stop there though.


What good came from Madoff, or the original Ponzi?

I don't know, nothing? How is that relevant Smiley

The point is that something good could come of BS&T.
markm
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August 24, 2012, 04:06:54 AM
 #9

What good came from Madoff, or the original Ponzi?

I don't know, nothing? How is that relevant Smiley

By providing examples and lessons that might have helped pirate get it right, they might have helped pirate achieve at least somewhat whatever pirate's project does for bitcoin that is good. Smiley Wink

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HorseRider
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August 24, 2012, 04:08:59 AM
 #10

But where's the fun in that when you could whip the price back and forth.


How much time do you spend for making this GIF? or do you just find it.

16SvwJtQET7mkHZFFbJpgPaDA1Pxtmbm5P
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August 24, 2012, 04:40:27 AM
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But where's the fun in that when you could whip the price back and forth.


How much time do you spend for making this GIF? or do you just find it.
I imagined Rule 34, but without the porn.

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