#trilema | 2019-07-09

http://btcbase.org/log/2019-07-09#1922133 << isn't this WAY under the ~13k the coin trades for irl ?

03:41

Logged on 2019-07-09 01:31 lobbesbot: Mocky: 9112.02185792

03:44

http://btcbase.org/log/2019-07-09#1922151 << if you dig through mp-wp guts there's a means to auto-adjust image size to order for a batch of images. the uploader uses it.

03:44

Logged on 2019-07-09 02:35 Mocky: fyi to mocky.org readers: blog will be in a sad state for a bit but functional. images not fitting page size, most old comments refused to import, will need to write a script to dump them in one at a time. I'm putting the old content of mocky.org at mockyhabeeb.com for reference until everything is back in place

03:44

takes file.jpg spits out something like file-xpixel-ypixel.jpg

03:44

of course, can also do this offline with ffmpeg or something.

~ 6 hours 32 minutes ~

10:17

http://btcbase.org/log/2019-07-09#1922152 << it does seem like there's a gaping hole that someone who lives where can easily use heathen exchange houses, could fill, 'buy cheap, sell dear'

10:17

Logged on 2019-07-09 07:41 mp_en_viaje: http://btcbase.org/log/2019-07-09#1922133 << isn't this WAY under the ~13k the coin trades for irl ?

10:18

including, eg, BingoBoingo

10:19

iirc he was making ready to try it, had 'bicycle man' or what was it

10:19

we're talking 2/3 sorta margins here, i dunno if it's obvious, but merely 6% or so was enough for me to set the bozo bit on all of fucking norway.

10:19

asciilifeform, "making ready" ain't a thing.

10:20

fair'nuff, i do not know the detail, or why not worked

10:20

it's a potentially large, if temporary, buried treasure, for anyone outside reich to collect

10:21

jurov iirc already was making bank, with this, nao needs some competition..

10:25

( could, e.g. spyked ? diana_coman ? all you need is a free world passport, and rake in the dough )

10:26

... phf ?

10:31

speaking of this, BingoBoingo -- how long until ~you~ can pick up yer phree world passport ?

~ 31 minutes ~

11:02

PeterL

asciilifeform: how does the type of passport affect the ability to join in auction?

11:13

PeterL

today heathen exchange says 13k, but during the auction it was more like 10 to 12k

~ 25 minutes ~

11:38

PeterL: thrd was re arbitrage of gap b/w piz & heathen rates

11:41

PeterL: inside reich, heathen exch houses such that you'd actually want to deal with, are extinct. whereas ones outside generally won't deal with zeks from inside.

11:45

feedbot

http://trilema.com/2019/minsk-central-market-locally-known-as-%d0%9a%d0%b0%d0%bc%d0%b0%d1%80%d0%be%d1%9e%d1%81%d0%bai-%d1%80%d1%8b%d0%bd%d0%b0%d0%ba/ << Trilema -- Minsk Central Market, locally known as i

~ 20 minutes ~

12:05

http://btcbase.org/log/2019-07-09#1922161 << He came through in May, but doing so stretched his trading bandwidth.

12:05

Logged on 2019-07-09 14:19 asciilifeform: iirc he was making ready to try it, had 'bicycle man' or what was it

12:05

http://btcbase.org/log/2019-07-09#1922162 << Last month I set the starting price on the big auction close to the reported rate and Jurov came through. This month I read noise in the channel about people wanting opportunities to buy more BTC, and I erred opening bidding on the parcel too low.

12:05

Logged on 2019-07-09 14:19 mp_en_viaje: we're talking 2/3 sorta margins here, i dunno if it's obvious, but merely 6% or so was enough for me to set the bozo bit on all of fucking norway.

12:05

What especially worries me is that the 500 USD parcel came in under 10k USD/BTC as well http://btcbase.org/log/2019-07-09#1922130

12:05

Logged on 2019-07-09 01:25 auctionbot: Buy order # 1050 has ENDED: 500 WFF, WU esta bien SOLD by Mocky for 52mn ecu. Attn: BingoBoingo

12:08

<asciilifeform> speaking of this, BingoBoingo -- how long until ~you~ can pick up yer phree world passport ? << Still at least a couple years out.

12:14

the idea being, nobody trades bitcoin for fiat in uruguay, we know this for having looked ; and nobody trades bitcoin for fiat in buenos aires, either, we also know this for having looked, because the fiddy bux it costs to cross the river goes into the gap many many times over.

12:14

i somehow doubt the foregoing, seeing how i had no problem dealing in whatever fiats i felt like by the wheelbarrow not so long ago ; both through the chinese financial support of their supermarket trade and through local money exchangers in the streets etc.

12:15

i rather suspect we're just sitting on ass waiting for "things to happen", and have not in fact talked to EVERY SINGLE STREET TRADER / supermarket / etcetera.

12:15

much like we're sitting on ass waiting for somebody else to do something and save us, and have not in fact talked to every potential customer.

12:15

and so following.

12:15

it is a measure of idiocy, this, when in a market trading at x, you're stuck trading at 2/3 x.

12:16

but hey -- at least sitting on ass for a year and not making any contacts on local bitcoins resulted in local bitcoins finally closing down, and so now we don't need to make excuses for why no contacts doing the p2p thing -- "there is nowhere" etc.

12:16

impressive, impressive.

12:18

I will be making rounds this month seeing who are the conduits that keep the latest crop of Venezolana's granparents from starving in old country.

12:27

somebody is doing that, right ?

12:28

The bicycle guy and a few others. The others tend to insist on larger spreads.

12:31

lobbes: Does auctionbot allow bidding on auctions you create?

12:38

BingoBoingo, one possible approach here is to set yourself a hook-up irl, and then put the auction in at THAT price.

12:39

it's one thing if you find some dork in buenos aires who does 1% off market and you add 50 bucks for your ticket and 50 bucks for your time to that ;

12:39

it's another thing if you end up trading at prices from jun 1th on july 9th

12:39

15th*

12:48

This, or something similar is what I'm inclined to do next auction. Open it at a locally available rate + margin for some double digit dosiedo costs.

12:49

lobbesbot

!!up lobbes_field

12:49

deedbot

lobbes_field voiced for 30 minutes.

12:49

lobbes_field

http://btcbase.org/log/2019-07-09#1922193 << it does not. Though I'm open to changing its behavior if it seems like a good idea

12:49

Logged on 2019-07-09 16:31 BingoBoingo: lobbes: Does auctionbot allow bidding on auctions you create?

12:58

Anyways, thinking on how the exchange rate is moving at a more lively clip... Would it make sense to shorten the duration of the auction for the larger Datacenter parcel? Auction opens the 8th between 0:01 and 1:30 UTC and 25 or 26 hours later on the 9th, and keep doing that month after month.

13:02

BingoBoingo, there's two separate issues here. one is the implicit fx risk -- if you're stuck paying suppliers on say 5th and sell your product on 28th the exchange rate may move and you could find yourself in this situation where you bought items with btc at 9 and sold them with btc at 12.

13:03

however, there's also the market inefficiency fx risk, where on the fucking day your auction closed, your auction traded at 9 and the other market traded at 12.

13:03

they're not the fucking same thing at all ; the former's unfixable while the latter's intolerable.

13:04

for this reason they shouldn't be comingled into one pile.

13:04

It was a wondering if the unfixable former was contributing to the later, but I'll leave that to its own pile.

13:05

now : ~if~, and this is a big if and something that needs specific management decision, you as a corp decide to carry the cost of inefficiency, so as to sponsor into existence a market,

13:06

then the 12-9 difference has to go on your books, as such. "this month, we spent 0.11 btc on incentivizing the lazy and inept cloud of hanger ons so maybe they galvanize into some kind of economically useful activity"

13:06

passing it to your customers implicitly is iffy.

13:06

if you don't want to do that, you'll have to judiciously use the reserve ; and in order to be able to do this, you must ACTUALLY HAVE that reserve, through having your own network of corresponding financiers.

13:07

these are the actual articulations of the matter from a business & finance pov.

13:08

re the iffy above : if the gap is relatively narrow, you can very well tell the customer, "looksy, i dun so much care what you read on the internet, the reality is this and if you don't like it -- do something".

13:09

however, if the gap is absurdly wide -- and yes, 33% on ONE SIDE amply qualifies for absurdly wide -- you can't very well say that, because the reality simply can't be that.

13:09

you must be doing something wrong (tm)

13:11

the implicit margin would be "when bitcoin was trading at 12 we were selling at 9 [and therefore buying at 15]". 9-15 spread means no less than 66% spread, this is not even a thing, like saying open circuits are "practically closed".

13:17

Next month's auction will have the reserve applied, unless asciilifeform and mod6 both vigorously object

13:17

*

asciilifeform does not object, mp_en_viaje has solid point

13:20

That gap can't persist.

13:27

diana_coman

http://btcbase.org/log/2019-07-09#1922167 -> uhm, raking in dough at the expense of pizarro and its customers doesn't strike me as desirable and the alternative is essentially to do the financier part for pizarro which doesn't strike me as very healthy either.

13:27

Logged on 2019-07-09 14:25 asciilifeform: ( could, e.g. spyked ? diana_coman ? all you need is a free world passport, and rake in the dough )

13:27

*

diana_coman is catching up with the log

13:28

diana_coman: to suppose that arbitrageurs 'enrich at expense of' is similar to supposing that bee 'enriches at expense' of flower

13:28

diana_coman

asciilifeform: that's not what I said.

13:29

hm sentence had 2nc clause ah

13:29

*2nd

~ 1 hours 59 minutes ~

15:28

BingoBoingo: but the auction isn't set in stone, nobody (surely not me) would bat an eye if you canceled and redid it at different price

15:31

Better option than shortening the time imo.

15:34

When asked, I quoted market avg +5%, last year due to volatility actually ended up with less than 5%.

15:35

Surely you can do the "making bank" better, go for it.

~ 37 minutes ~

16:12

jurov: The problem I find myself in at this time, is that the time to spec the auction that way is when opening it.

~ 18 minutes ~

16:31

Mocky

i would have bid up to 12 in order to win the auction. but in any case two bidders are not much of a market when one presumably has the dollars today but only bids up to 2/3 and the other will bid up to 3/3 but is liek, 'can i bid today and pay 10 days hence?'

~ 35 minutes ~

17:06

Mocky

I don't expect to have enough to bid on the datacenter auction for august but I do for sept

~ 1 hours 39 minutes ~

18:46

feedbot

http://qntra.net/2019/07/poland-pursuing-repatriation-of-gold-reserves-from-airstrip-one/ << Qntra -- Poland Pursuing Repatriation Of Gold Reserves From Airstrip One