A Theory on what pirateat40 is doing - page 14.

Francesco

sr. member

Activity: 252

Merit: 250

Quote from: organofcorti on July 04, 2012, 11:13:24 AM

Regardless of whether or not Pirate is running a Ponzi scheme, all of the posted ideas of how he could be making his money work fantastically, and I'm now living on a small Caribbean Island I own.

Just PM me if you want a 7% / week interest bearing account. This won't expose you to any risk of BS&T failing, but still provide a great return! In between sunbaking, and sipping mojitos and daiquiris, my staff and I will be only too happy to answer any questions you might have.

I can't tell you the secret of my investment strategy as this would impact it's effectiveness. I can guarantee however that not one coin of interest will be the result of any criminal activity.

Past performance is not a reliable indicator of future performance. I retain the right to any bitcoins invested with me. Caveat emptor.

I hope to god no one takes this seriously.

Quote from: unclescrooge on July 04, 2012, 11:31:08 AM

I guess there's only one way to know and prove that it's not a ponzi, without saying what he does. It's a massive withdrawal of deposit + profit.

Then if everyone gets his coins back, you won't have any more "ponzi bashing" from anyone, promised

+1

bitcoinBull

legendary

Activity: 826

Merit: 1001

rippleFanatic

Quote from: Vandroiy on July 04, 2012, 01:51:50 PM

Once you're done with a 5-page explanation as to why it could work in theory, I'll just say it again: hedging against risk is much cheaper than 7% a week. And the whole card-house comes tumbling down, no matter how neat its theories.

Yeah and it will be a welcome moment when (not if) it does because I'm getting tired of all these pirate/GLBSE/HYIP threads.

minorman

legendary

Activity: 945

Merit: 1003

I think OP might be onto something.
I also highly doubt that everyone will get all their Bitcoin back from pirate.

This is one show I prefer to watch from the sidelines...

Vandroiy

legendary

Activity: 1036

Merit: 1002

Yea @hazek. Look at the quote inception, and it still makes no sense. Occam's Razor is on a killing spree.

Serge, try to take Pirateat's place. You're making this excessively complicated by trying to look from the outside. If he ever needs investors for such operations, then only for a short time. The actual BS&T wants exponentially more investors, even though its own assets should grow exponentially!

Once you're done with a 5-page explanation as to why it could work in theory, I'll just say it again: hedging against risk is much cheaper than 7% a week. And the whole card-house comes tumbling down, no matter how neat its theories.

bitcoinBull

legendary

Activity: 826

Merit: 1001

rippleFanatic

Quote from: cytokine on July 04, 2012, 11:12:13 AM

I've been avoiding commenting on this stuff because it's best practice not to discuss your competition, especially with 7%/week which no-one else can possibly compete with. However, I think the above is the most reasonable explanation yet, but with 2 missing pieces.

[...]

In any event, you won't hear anything more from me on this, but I just couldn't help but give out my 2 cents into the crowd since I find the topic very fascinating. However, I'll also take this opportunity to make a shameless plug for my fund, which is 100% pirate-free so it's perfect for skeptics. As for myself, I'm agnostic on it being a scam vs being real; as with any investment, investor beware. But I never invest in things when I don't know what the business is doing as a rule, since my fund always errs on the side of prudence. Many thanks.

My god, since pirate now everyone wants to start a HYIP scam. cytokine, your "debug output" and claims about "reviewing code resolving bugs" are utterly unconvincing. Since your business (like pirate's) also has a 'secret sauce' and we don't know what its doing either, then by your own advice we shouldn't invest.

hazek

legendary

Activity: 1078

Merit: 1002

Serge

legendary

Activity: 1050

Merit: 1000

hazek

legendary

Activity: 1078

Merit: 1002

sadpandatech

hero member

Activity: 504

Merit: 500

Quote from: finkleshnorts on July 04, 2012, 12:12:42 PM

Quote from: Serge on July 04, 2012, 11:59:47 AM

Selling high volumes through lending is quite genius imo, even more so than any ponzi scheme

Keep in mind I'm just speculating and I don't dismiss pirate's op being a ponzi or some other scam. I've just tried to see what are the possibilities to run such operation legitimately and to find plausible explanation how it is done and interested in other's opinions on my findings

I'm still curious how, in your scenario, Pirate could pay back his lenders without driving the price up and defeating his purpose. No sarcasm here, I'm really wondering.

Maybe by buying highly tainted coins? I think the pool of taint woulda ran dry by now if that was the case. But am also curious...

Serge

legendary

Activity: 1050

Merit: 1000

finkleshnorts

sr. member

Activity: 336

Merit: 250

Quote from: Serge on July 04, 2012, 11:59:47 AM

Selling high volumes through lending is quite genius imo, even more so than any ponzi scheme

Keep in mind I'm just speculating and I don't dismiss pirate's op being a ponzi or some other scam. I've just tried to see what are the possibilities to run such operation legitimately and to find plausible explanation how it is done and interested in other's opinions on my findings

I'm still curious how, in your scenario, Pirate could pay back his lenders without driving the price up and defeating his purpose. No sarcasm here, I'm really wondering.

Vladimir

hero member

Activity: 812

Merit: 1001

-

Quote from: ?? on ??

My having no respect for you is not an argument. It is a fact. :/

Stating irrelevant facts is not an argument either, actually it is another logical fallacy. Having delusions about your own "reputation" is not helping you at all too.

Serge

legendary

Activity: 1050

Merit: 1000

Selling high volumes through lending is quite genius imo, even more so than any ponzi scheme

Keep in mind I'm just speculating and I don't dismiss pirate's op being a ponzi or some other scam. I've just tried to see what are the possibilities to run such operation legitimately and to find plausible explanation how it is done and interested in other's opinions on my findings

Serge

legendary

Activity: 1050

Merit: 1000

Quote from: Vandroiy on July 04, 2012, 11:05:21 AM

The reason Pirateat40 responded to Serge is because it draws attention to the wrong side of the problem, the one that takes more time to discuss.

Serge, an idea for the most profitable enterprise of all time is not the point of discussion here. The question is why would he continue to share it! Sure, in the beginning he might have lacked funds. But now? There's just no way any sensible person would now try to get as many investors as possible!

This argument kills it in one go. All counters have been quickly debunked. Wake up and help spreading the word already.

My explanation to this dilemma is simple: you cannot take all returns to yourself in such a limited environment such as Bitcoin - it has great potential to devalue investments of those to whom he sells which could only mean trouble in the end.

hazek

legendary

Activity: 1078

Merit: 1002

Quote from: finkleshnorts on July 04, 2012, 11:37:43 AM

Quote from: hazek on July 04, 2012, 11:31:24 AM

where the hell does he then get the BTC to pay back his "investors" once he sells the borrowed BTC to that group??

Maybe he just borrows it

Wait...

Bingo. Hence the ponzi allegations.

finkleshnorts

sr. member

Activity: 336

Merit: 250

Quote from: hazek on July 04, 2012, 11:31:24 AM

where the hell does he then get the BTC to pay back his "investors" once he sells the borrowed BTC to that group??

Maybe he just borrows it

Wait...

Vladimir

hero member

Activity: 812

Merit: 1001

-

Quote from: hazek on July 04, 2012, 11:31:24 AM

Quote from: pirateat40 on July 04, 2012, 10:39:31 AM

Oh boy!!! Someone is stepping close to treasure. ATTACK!!!!!

And the fact that he pretends you're close is when in fact your explanation makes zero sense is a huge red flag.

Indeed it is! walks like a duck...

hazek

legendary

Activity: 1078

Merit: 1002

unclescrooge

hero member

Activity: 868

Merit: 1000

Quote from: organofcorti on July 04, 2012, 11:13:24 AM

Regardless of whether or not Pirate is running a Ponzi scheme, all of the posted ideas of how he could be making his money work fantastically, and I'm now living on a small Caribbean Island I own.

Just PM me if you want a 7% / week interest bearing account. This won't expose you to any risk of BS&T failing, but still provide a great return! In between sunbaking, and sipping mojitos and daiquiris, my staff and I will be only too happy to answer any questions you might have.

I can't tell you the secret of my investment strategy as this would impact it's effectiveness. I can guarantee however that not one coin of interest will be the result of any criminal activity.

Past performance is not a reliable indicator of future performance. I retain the right to any bitcoins invested with me. Caveat emptor.

I hope to god no one takes this seriously.

PM sent. Kidding Cheesy

I guess there's only one way to know and prove that it's not a ponzi, without saying what he does. It's a massive withdrawal of deposit + profit.

Then if everyone gets his coins back, you won't have any more "ponzi bashing" from anyone, promised

Vladimir

hero member

Activity: 812

Merit: 1001

-

Quote from: ?? on ??

I used to have some respect for you... You should try to calm down a reread what he posted. Sad

Well I never respected you if it means anything. However irrelevant it is.

Now "I respected you but not anymore" argument is not going to work as it is a logical fallacy. I do not give a damn about your respect. And ad hominem is not a valid argument.

If I got it wrong you either show exactly where and how or shut up or call for pirate to save the day.

Topic: A Theory on what pirateat40 is doing - page 14. (Read 39920 times)