A day in the life of a pirate. - page 6.

rjk

sr. member

Activity: 448

Merit: 250

1ngldh

Quote from: bitfoo on May 29, 2012, 11:29:15 PM

Does anyone suspect that Clipse and pirateat40 might have the same business model? They both sell bitcoins locally, and they both pay extra for people to mine for them. Neither of them give away much more information than that (understandably).

Hmm....

I'm pretty sure it is, although I wasn't going to call it. He's in South Africa, and Pirateat40 is in Texas, so their markets don't really overlap when selling to local people on the ground.

As to why the buyers will pay such a premium - well I still haven't figured that out.

bulanula

hero member

Activity: 518

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Quote from: bitfoo on May 29, 2012, 11:29:15 PM

Does anyone suspect that Clipse and pirateat40 might have the same business model? They both sell bitcoins locally, and they both pay extra for people to mine for them. Neither of them give away much more information than that (understandably).

Hmm....

Ever considered that Clipse's so-called "pool" ( not a pool 100% because all normal pools publish found blocks - it is a proxy like ABCPool ) is just diverting to GPUMAX and he is taking a big fat 30% cut from everybody ?

No wonder you cannot use GPUMAX through his pool ...

The myth of selling BTC to fools locally is laughable. Nobody is stupid to pay more for BTC than market rate I would believe.

bitfoo

donator

Activity: 289

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Does anyone suspect that Clipse and pirateat40 might have the same business model? They both sell bitcoins locally, and they both pay extra for people to mine for them. Neither of them give away much more information than that (understandably).

Hmm....

jamesg

vip

Activity: 1358

Merit: 1000

AKA: gigavps

Quote from: Raoul Duke on May 29, 2012, 12:15:39 PM

Apparently, pirateat14 and you, ARE Bitcoin. Huh

Now that's just silly.

Raoul Duke

legendary

Activity: 1358

Merit: 1002

Quote from: jamesg on May 29, 2012, 11:26:26 AM

Glad to see so much speculation in the bitcoin discussion sub forum.

Apparently, pirateat14 and you, ARE Bitcoin. Huh

jamesg

vip

Activity: 1358

Merit: 1000

AKA: gigavps

Glad to see so much speculation in the bitcoin discussion sub forum.

Rygon

hero member

Activity: 520

Merit: 500

Quote from: ?? on ??

Quote from: Rygon on May 29, 2012, 10:15:03 AM

Why isn't there more concern about the Pirate investment bonds being offered on GLBSE? I'm certainly not accusing anyone, especially since the Pirate bonds being offered on GLBSE are from regular community members. But the latest fad on GLBSE are these Pirate bonds, and I'm sure it's tempting for someone who has a BS&T account to raise several thousand BTC on GLBSE, get some reputation for paying interest one time, and eventually run off with the principal. As an example of the popularity - the PPT bonds managed to raise over 10K BTC in about a month, but I'm sure none of those guys would risk their reputation on a scheme like that though.

On the same note, since Pirate just admitted that he's helped two other people start up similar businesses, how long before people start asking for loans for mysterious "Pirate-like" investments??

Just go with people you trust, and never risk more than you can lose.

Absolutely. IMO, that's the fun part about bitcoin - you can invest a relatively small amount (willing to lose) and still reap high ROIs. That usually doesn't happen in most markets because of government intervention and market manipulations by the big players.

rjk

sr. member

Activity: 448

Merit: 250

1ngldh

Quote from: ?? on ??

gigavps or pirateat40 (since they are avatars of the same "person").

Same? Don't make me laugh.

Rygon

hero member

Activity: 520

Merit: 500

Why isn't there more concern about the Pirate investment bonds being offered on GLBSE? I'm certainly not accusing anyone, especially since the Pirate bonds being offered on GLBSE are from regular community members. But the latest fad on GLBSE are these Pirate bonds, and I'm sure it's tempting for someone who has a BS&T account to raise several thousand BTC on GLBSE, get some reputation for paying interest one time, and eventually run off with the principal. As an example of the popularity - the PPT bonds managed to raise over 10K BTC in about a month, but I'm sure none of those guys would risk their reputation on a scheme like that though.

On the same note, since Pirate just admitted that he's helped two other people start up similar businesses, how long before people start asking for loans for mysterious "Pirate-like" investments??

R-

full member

Activity: 238

Merit: 100

Pasta

Quote from: ?? on ??

You can't click on "All" and search the page in your browser? Do you realize what a pretentious waste of time that makes you?

I wasn't aware and nor was anyone else. Thank you for the observation. Have a cupcake, and a tampon.

Quote from: proudhon on May 27, 2012, 07:17:56 PM

Well, you can always click "all" next to all the page numbers you see and then you only have to read 275+ comments on one page! Grin

Hehe thanks. Pirate, return please!

imsaguy

vip

Activity: 574

Merit: 500

Don't send me a pm unless you gpg encrypt it.

Quote from: ?? on ??

Quote from: R- on May 27, 2012, 04:28:13 PM

Quote from: ?? on ??

Quote from: R- on May 27, 2012, 07:22:04 AM

Pirate, please excuse me If this question has been asked. Do you run a currency exchange operation?

Regards,

Please read the entire thread before asking questions that have already been answered.

Right, read 275+ comments and scroll through 14 pages to find the answer to a question. I am going outside now.

You can't click on "All" and search the page in your browser? Do you realize what a pretentious waste of time that makes you?

The all link eventually disappears on longer threads, although it is still visible on this one.

proudhon

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Quote from: R- on May 27, 2012, 04:28:13 PM

Quote from: ?? on ??

Quote from: R- on May 27, 2012, 07:22:04 AM

Pirate, please excuse me If this question has been asked. Do you run a currency exchange operation?

Regards,

Please read the entire thread before asking questions that have already been answered.

Right, read 275+ comments and scroll through 14 pages to find the answer to a question. I am going outside now.

Well, you can always click "all" next to all the page numbers you see and then you only have to read 275+ comments on one page! Grin

Bitcoin Oz

hero member

Activity: 686

Merit: 500

Wat

Maybe he has access to suppliers of GPU's at factory prices and simply sells them to gamers and miners for profit which he uses to source bitcoins to lend out. Like NIKE getting shoes for $5 and selling them for $200 in the US.

R-

full member

Activity: 238

Merit: 100

Pasta

Quote from: ?? on ??

Quote from: R- on May 27, 2012, 07:22:04 AM

Pirate, please excuse me If this question has been asked. Do you run a currency exchange operation?

Regards,

Please read the entire thread before asking questions that have already been answered.

Right, read 275+ comments and scroll through 14 pages to find the answer to a question. I am going outside now.

wachtwoord

legendary

Activity: 2324

Merit: 1125

I also have an additional question:

Do you have an idea or estimate how long you think it is likely your business moat will be sufficient to continue to achieve the returns you are making right now? Will this be in the order of magnitude of months or years for instance?

R-

full member

Activity: 238

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Pasta

Pirate, please excuse me If this question has been asked. Do you run a currency exchange operation?

Regards,

wachtwoord

legendary

Activity: 2324

Merit: 1125

That would make it no more scamming than options markets since both are zero-sum games with a clearly defined rules.

unclescrooge

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Quote from: ?? on ??

Quote from: Sukrim on May 25, 2012, 02:19:54 AM

Quote from: ?? on ??

Quote from: pirateat40 on May 24, 2012, 06:12:17 PM

Quote from: Vladimir on May 24, 2012, 06:10:52 PM

What is so difficult to understand here?

Your borrowers whatever they say to you could simply funnel borrowed money to a ponzi scheme. You do not need to know about it, and your borrowers would not tell you. Once the master ponzi implodes they default on your loans. Do defaults concern you?

BTC rises, your borrowers who converted BTC into USD are unable to pay off your loans they default. This does not concerns you too apparently.

And note that I am not really talking about specifically your borrowers and your business, more about the whole BTC lending marketplace.

With all this Ponzi talk, you make me want to start one. Who's up for a pirate style Ponzi?

Honestly I thought about doing one on GLBSE. I would make it very clear it was a ponzi and give the terms. I wonder how much success it would have. Honestly I think there would be some interest but I think Iwould have to pay out 50% or so returns to get interest.

I already talked to Nefario about this (an open Ponzi on GLBSE) and he declined and said it would be taken down. My conclusion: If you want to Ponzi on GLBSE, claim some "proprietory business idea that noone should know about, not even investors!" and do it this way. Out in the open is a no-go, even for penny stock (as I intended).

oh no, i would only do it if i could be 100% open about it. im said he said no:(

Of course he said no. Please tell me the value for bitcoin economy of a ponzi?

PatrickHarnett

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Quote from: coblee on May 25, 2012, 02:31:31 AM

Are you talking about >$100,000 capital and you can make ~$10,000 for each deal? And could you do this week in and week out for the whole year? If you answer yes to both questions, then why are you not doing that as a full time job? (You'd make half a mil a year) If either of your answers is no, then this is not close to the same as what pirate claims to have.

You need more than that to make your 1/2 mill per year. You also people that can do that kind of business - hunter/gathers. Most people are farmers, doing something easy and lower risk.

foggyb

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