Topic: - - page 6. (Read 26912 times)

In other words: pirate is a honest man, while you would always scam given the chance. Revealing...

Donald Trump hair begs to disagree. 

There are many fools around here, but I don't think Pirate is one of them.
Do you all think he would work tirelessly for almost a year, for free, at a loss, just to reward you for being gullible?

Ethical considerations aside, he would be a fool to give back the 5 million dollars he has craftily stolen, save a Tom Williams parting gift.

Roll me in tar and feathers and parade me around town if I turn out to be mistaken.

Is this a pro or anti pirate rant? Your vitriol needs clarifying.

Even if true. 

"The announcement occurred when the ability to send wire transfers to Mt. Gox had ended on Friday.  Perfect timing for maximum damage over the weekend."

Either Pirate is the worlds largest largest idiot and so badly blundered the announcement in such a way that 35% of the purchasing power of his investors funds was annihilated before he even began repayment .... or it was intentional.

Oh and idiots tend not to acquire a sum of 500K BTC.

+1

And what if the stability which you so crave was explicitly caused by pirate for months on end?

Ima just leave this here;

Cashin' Out

There was a swing in the Bticoin "market cap" of nearly $75 million in under 48 hours.  That kind of volatility is harmful to Bitcoin.

The announcement occurred when the ability to send wire transfers to Mt. Gox had ended on Friday.  Perfect timing for maximum damage over the weekend.

Pirateat40 is not a friend of Bitcoin.  Pirate ... is a scoundrel.

I do apologize.  But not to pirate.  I apologize for not having the courage of conviction to yell at the top of my lungs that this entire deal stunk to high heaven.

Regardless of the outcome, I dont think anyone owes an apology for  pointing  out that a semi anonymous forum poster paying out >3000% interest per year based on an undisclosed  and rather miraculous business plan is probably a ponzi. That its a legitimate business is possible,  just like its possible that 10-post newbie in the lending section really crashed his car,  needs 1000BTC and will actually pay it back in 6 months with 100% interest. But you wouldnt just assume that, or would you? If anyone called that an almost certain scam, you wouldnt demand proof or apologies, or would you?  The onus to disprove the assumption such a venture is a scam is firmly on the person requesting the loan.  Particularly if you are going to hold millions of dollars of other people's money, the burden of proof of legitimacy is upon that person, and not on anyone pointing out the obvious. Failure to provide any such proof should automatically lead to the assumption its a scam. Assumptions are not facts.

So what proof do we have Pirate scheme is legit?  Pirate chose not to reveal his identity, nor his business model, nor give any other guarantees that he can fullfill his obligations.. No credible explanation for how he could generate those returns has been put forward. In the lending forum most people generally demand far more proof, verification, IDs etc  to lend just 10BTC while pirate lend 100s of 1000s of BTC. Think about it.  So unless you know something I dont,  we have zero evidence its not a ponzi, while it has all the hallmarks of a ponzi,  and therefore the only sensible thing to do is assume it is indeed a ponzi. Could that assumption be proven wrong? Sure,  but we are all waiting for that proof to be paid out.

Now, Id like you all to recall the thread about bitcoinica were paraipan filed a police report to force Zhou Tong to publish his identity and/or the legal entity that ran Bitcoinica:
https://bitcointalksearch.org/topic/legal-complaint-against-bitcoinicacom-64176

The forum lynched him over that action, Zhou Tong was  considered a saint that no one had the right to doubt, yadayada, go read it. But what paraipan did was a pretty sensible thing to do:  If you are going to give a semi anonymous forum poster 100s of thousands of your coins or dollar, you at least want to know who to sue if it goes wrong. Because it can, and did go very wrong, just like mybitcoin went very wrong and who knows how many other schemes. Everyone with a vested interest in bitcoin lost because of those,  just like we will lose if pirate's scheme turns out to be a scam, even those people who didnt invest in it.

So no, I wont apologize to anyone for using common sense and protecting my interests. I will however, gladly and genuinely congratulate Pirate if he manages to pay off his debt.

Nice

This -had- to be posted here. https://bitcointalksearch.org/topic/im-giving-100-roi-away-to-anyone-who-thinks-pirate-is-a-fraud-101751

I decided to Autocross today, you know, because there was hope I could win. Not much hope in this vicinity though.

not yet! there 's still a hope on it

Everyone has been paid back ? Nice

Sure he could have chugged along with the other ventures. But do you think he could have accumulated half a million bitcoins?

Thank you for the eloquent post. The difference in language between the pro- and anti- pirate crowd is stark! 

The sad, funny thing about BTCST's demise is that the interest rate was simply too high. Had pirate given 1, or 2, or 3% out and kept the difference for himself, nobody would have cried ponzi and it could have chugged along with other ventures. But instead he generously gave out 7% -- a majority of his earnings -- which ultimately lead to the ponzi FUD and downfall. His kindness was his weakness 

Good, thanks.

Agreed,  well said.