1DkyBEKt5S2GDtv7aQw6rQepAvnsRyHoYM - page 24.

runeks

legendary

Activity: 980

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Quote from: Raoul Duke on August 18, 2012, 08:17:55 PM

Wrong. It costed a big fat zero.
The 0.01022427 value is the change lol
https://blockchain.info/tx-index/16394734/d2f25503cf1ddf56c65635d449b17c72c32e696cd7f4fca1aeb94392675f19ba

Quote

Fees 0 BTC

Or maybe he sent 0.01022427 BTC and 100,000 BTC is the change...

myrkul

hero member

Activity: 532

Merit: 500

FIAT LIBERTAS RVAT CAELVM

Can't claim it, got it off the "Putting your money where Pirate's mouth is" thread, but it neatly sums up my estimation of tomorrow's events, so I blatantly stole it for use here. Wink

Spekulatius

legendary

Activity: 1022

Merit: 1000

Quote from: myrkul on August 19, 2012, 02:19:23 AM

(view image for full size)

Wow, awesome pic!

myrkul

hero member

Activity: 532

Merit: 500

FIAT LIBERTAS RVAT CAELVM

Quote from: MrTeal on August 19, 2012, 02:11:51 AM

Quote from: myrkul on August 19, 2012, 01:54:24 AM

Quote from: nazgulnarsil on August 19, 2012, 01:45:15 AM

Hey guys I've been away from bitcoin for approx 1 year (was a GPU miner before that). Is there a thread explaining all this pirate stuff? I have no idea what's going on.

The details are scattered everywhere, but the basic run down is that Pirateat40 created this thing, that he calls Bitcoin Savings and Trust. He accepts deposits, and was originally offering up to 7% weekly interest. He now has control of a significant percentage of the world's Bitcoin supply, and has announced that starting Monday, he will be shutting down business and returning the investments, along with any owed interest. It is speculated that:

He is (was) running a Ponzi.
He is (was) running a money laundering scheme.
He is (was) running a legit investment scheme to allow big players to enter the market without drastically distorting it.
He will be returning all the money come monday, and everyone will end up happy.
He will be (and indeed may already have started) running off with all the money, and nobody ends up happy.

Among other things. Basically, Grab some popcorn, you've come back at the right time.

Except for Pirate, of course.

True. I thought about changing that, but by the time I realized, it was too late, so, meh.

(view image for full size)

Quote from: nazgulnarsil on August 19, 2012, 02:13:59 AM

HAHAHAHA oh WOW. This is indeed funny. Caveat emptor indeed in the wild west of a new economy. Thanks for taking the time to explain things.

No problem. Like I said, It's a fun time to be watching from the sidelines.

Quote from: finkleshnorts on August 19, 2012, 02:17:39 AM

He's famous for that. Thanks from me too.

finkleshnorts

sr. member

Activity: 336

Merit: 250

Quote from: nazgulnarsil on August 19, 2012, 02:13:59 AM

Thanks for taking the time to explain things.

He's famous for that. Thanks from me too.

nazgulnarsil

sr. member

Activity: 672

Merit: 258

https://cryptassist.io

Quote from: myrkul on August 19, 2012, 01:54:24 AM

Quote from: nazgulnarsil on August 19, 2012, 01:45:15 AM

Hey guys I've been away from bitcoin for approx 1 year (was a GPU miner before that). Is there a thread explaining all this pirate stuff? I have no idea what's going on.

The details are scattered everywhere, but the basic run down is that Pirateat40 created this thing, that he calls Bitcoin Savings and Trust. He accepts deposits, and was originally offering up to 7% weekly interest. He now has control of a significant percentage of the world's Bitcoin supply, and has announced that starting Monday, he will be shutting down business and returning the investments, along with any owed interest. It is speculated that:

He is (was) running a Ponzi.
He is (was) running a money laundering scheme.
He is (was) running a legit investment scheme to allow big players to enter the market without drastically distorting it.
He will be returning all the money come monday, and everyone will end up happy.
He will be (and indeed may already have started) running off with all the money, and nobody ends up happy.

Among other things. Basically, Grab some popcorn, you've come back at the right time.

HAHAHAHA oh WOW. This is indeed funny. Caveat emptor indeed in the wild west of a new economy. Thanks for taking the time to explain things.

Yuhfhrh

full member

Activity: 238

Merit: 100

Quote from: MrTeal on August 19, 2012, 02:11:51 AM

Quote from: myrkul on August 19, 2012, 01:54:24 AM

Quote from: nazgulnarsil on August 19, 2012, 01:45:15 AM

Hey guys I've been away from bitcoin for approx 1 year (was a GPU miner before that). Is there a thread explaining all this pirate stuff? I have no idea what's going on.

The details are scattered everywhere, but the basic run down is that Pirateat40 created this thing, that he calls Bitcoin Savings and Trust. He accepts deposits, and was originally offering up to 7% weekly interest. He now has control of a significant percentage of the world's Bitcoin supply, and has announced that starting Monday, he will be shutting down business and returning the investments, along with any owed interest. It is speculated that:

He is (was) running a Ponzi.
He is (was) running a money laundering scheme.
He is (was) running a legit investment scheme to allow big players to enter the market without drastically distorting it.
He will be returning all the money come monday, and everyone will end up happy.
He will be (and indeed may already have started) running off with all the money, and nobody ends up happy.

Among other things. Basically, Grab some popcorn, you've come back at the right time.

Except for Pirate, of course.

He probably will be paranoid and worried of being caught from stealing that much $, so he may not be happy either lol

MrTeal

legendary

Activity: 1274

Merit: 1004

Quote from: myrkul on August 19, 2012, 01:54:24 AM

Quote from: nazgulnarsil on August 19, 2012, 01:45:15 AM

Hey guys I've been away from bitcoin for approx 1 year (was a GPU miner before that). Is there a thread explaining all this pirate stuff? I have no idea what's going on.

The details are scattered everywhere, but the basic run down is that Pirateat40 created this thing, that he calls Bitcoin Savings and Trust. He accepts deposits, and was originally offering up to 7% weekly interest. He now has control of a significant percentage of the world's Bitcoin supply, and has announced that starting Monday, he will be shutting down business and returning the investments, along with any owed interest. It is speculated that:

He is (was) running a Ponzi.
He is (was) running a money laundering scheme.
He is (was) running a legit investment scheme to allow big players to enter the market without drastically distorting it.
He will be returning all the money come monday, and everyone will end up happy.
He will be (and indeed may already have started) running off with all the money, and nobody ends up happy.

Among other things. Basically, Grab some popcorn, you've come back at the right time.

Except for Pirate, of course.

bitfoo

donator

Activity: 289

Merit: 250

Quote from: nazgulnarsil on August 19, 2012, 01:45:15 AM

Hey guys I've been away from bitcoin for approx 1 year (was a GPU miner before that). Is there a thread explaining all this pirate stuff? I have no idea what's going on.

Wow, good luck. These days I find it hard to catch up after even a day of being away.

myrkul

hero member

Activity: 532

Merit: 500

FIAT LIBERTAS RVAT CAELVM

Quote from: nazgulnarsil on August 19, 2012, 01:45:15 AM

Hey guys I've been away from bitcoin for approx 1 year (was a GPU miner before that). Is there a thread explaining all this pirate stuff? I have no idea what's going on.

The details are scattered everywhere, but the basic run down is that Pirateat40 created this thing, that he calls Bitcoin Savings and Trust. He accepts deposits, and was originally offering up to 7% weekly interest. He now has control of a significant percentage of the world's Bitcoin supply, and has announced that starting Monday, he will be shutting down business and returning the investments, along with any owed interest. It is speculated that:

He is (was) running a Ponzi.
He is (was) running a money laundering scheme.
He is (was) running a legit investment scheme to allow big players to enter the market without drastically distorting it.
He will be returning all the money come monday, and everyone will end up happy.
He will be (and indeed may already have started) running off with all the money, and nobody ends up happy.

Among other things. Basically, Grab some popcorn, you've come back at the right time.

VelvetLeaf

member

Activity: 98

Merit: 10

Quote from: nazgulnarsil on August 19, 2012, 01:45:15 AM

Hey guys I've been away from bitcoin for approx 1 year (was a GPU miner before that). Is there a thread explaining all this pirate stuff? I have no idea what's going on.

Pirate used to offer 7% interest / week, now that it's closing down there's not much incentive to buy bitcoin as a way to get 28% interest / month

nazgulnarsil

sr. member

Activity: 672

Merit: 258

https://cryptassist.io

Hey guys I've been away from bitcoin for approx 1 year (was a GPU miner before that). Is there a thread explaining all this pirate stuff? I have no idea what's going on.

myrkul

hero member

Activity: 532

Merit: 500

FIAT LIBERTAS RVAT CAELVM

Quote from: ruski on August 19, 2012, 12:57:38 AM

Which would make even more sense if ASIC devs were the ones now selling coins, before they obliterate the market by releasing them.

I'm bullish, but sometimes I wonder if I should just shut my mouth...

Relax. Worst case scenario, difficulty goes up. Hardly the end of Bitcoin.

ruski

full member

Activity: 350

Merit: 100

Quote from: myrkul on August 19, 2012, 12:50:12 AM

Quote from: mb300sd on August 19, 2012, 12:46:21 AM

Quote from: ruski on August 19, 2012, 12:27:37 AM

Quote from: Littleshop on August 19, 2012, 12:10:23 AM

Aliens could have used special technology to simply append them to the block chain too.

You can not always prove a negative, but as no ASIC's have been seen in the wild I doubt that they have been doing 28% of the hashing for 9 months.

You're probably right. Still, if you'd invented a money tree, would you sell the seeds?

Only if selling the seeds got me more money than I could make off the trees.

Sell the seeds, buy gold. ('cause the money's gonna be worthless when that next crop comes in)

Which would make even more sense if ASIC devs were the ones now selling coins, before they obliterate the market by releasing them.

I'm bullish, but sometimes I wonder if I should just shut my mouth...

myrkul

hero member

Activity: 532

Merit: 500

FIAT LIBERTAS RVAT CAELVM

Quote from: mb300sd on August 19, 2012, 12:46:21 AM

Quote from: ruski on August 19, 2012, 12:27:37 AM

Quote from: Littleshop on August 19, 2012, 12:10:23 AM

Aliens could have used special technology to simply append them to the block chain too.

You can not always prove a negative, but as no ASIC's have been seen in the wild I doubt that they have been doing 28% of the hashing for 9 months.

You're probably right. Still, if you'd invented a money tree, would you sell the seeds?

Only if selling the seeds got me more money than I could make off the trees.

Sell the seeds, buy gold. ('cause the money's gonna be worthless when that next crop comes in)

mb300sd

legendary

Activity: 1260

Merit: 1000

Drunk Posts

Quote from: ruski on August 19, 2012, 12:27:37 AM

Quote from: Littleshop on August 19, 2012, 12:10:23 AM

Aliens could have used special technology to simply append them to the block chain too.

You can not always prove a negative, but as no ASIC's have been seen in the wild I doubt that they have been doing 28% of the hashing for 9 months.

You're probably right. Still, if you'd invented a money tree, would you sell the seeds?

Only if selling the seeds got me more money than I could make off the trees.

ruski

full member

Activity: 350

Merit: 100

Quote from: Littleshop on August 19, 2012, 12:10:23 AM

Aliens could have used special technology to simply append them to the block chain too.

You can not always prove a negative, but as no ASIC's have been seen in the wild I doubt that they have been doing 28% of the hashing for 9 months.

You're probably right. Still, if you'd invented a money tree, would you sell the seeds?

Littleshop

legendary

Activity: 1386

Merit: 1004

Quote from: ruski on August 19, 2012, 12:07:01 AM

Quote from: Littleshop on August 18, 2012, 09:08:22 PM

Quote from: ruski on August 18, 2012, 08:54:45 PM

Has anyone considered that it may be something else entirely?

ASIC miners were supposed to come out at the end of last year. If the group that's built them is hoarding and using them, instead of selling them, that'd explain why so many of these coins are brand new & how they amassed so many so quickly. In which case, we wouldn't have any idea what they plan to do with them - maybe they're going to start a traditional-style bank, or fund some big new initiative to bring BTC into the real world.

Food for thought. Wink

Edit - did the math, over 9 months they would need to have accounted for about 28% of the total network power to accumulate all those coins purely through mining. A lot less if they're trading them for profit. Is it feasible?

Those coins are not from ASIC mining.

You sounds pretty sure.

Aliens could have used special technology to simply append them to the block chain too.

You can not always prove a negative, but as no ASIC's have been seen in the wild I doubt that they have been doing 28% of the hashing for 9 months.

ruski

full member

Activity: 350

Merit: 100

Quote from: Littleshop on August 18, 2012, 09:08:22 PM

Quote from: ruski on August 18, 2012, 08:54:45 PM

Has anyone considered that it may be something else entirely?

ASIC miners were supposed to come out at the end of last year. If the group that's built them is hoarding and using them, instead of selling them, that'd explain why so many of these coins are brand new & how they amassed so many so quickly. In which case, we wouldn't have any idea what they plan to do with them - maybe they're going to start a traditional-style bank, or fund some big new initiative to bring BTC into the real world.

Food for thought. Wink

Edit - did the math, over 9 months they would need to have accounted for about 28% of the total network power to accumulate all those coins purely through mining. A lot less if they're trading them for profit. Is it feasible?

Those coins are not from ASIC mining.

You sounds pretty sure.

Zotia

hero member

Activity: 686

Merit: 501

TokenUnion-Get Rewarded for Holding Crypto

Someone with at least 10k BTC placed a wall.

Perhaps it is the same person?

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