Topic: A Theory on what pirateat40 is doing - page 4. (Read 39956 times)

He didn't sell to me as I made a ridicuilsly low offer; however if he thought that pirate wasn't going to payback then my 175 goxUSD was better than nothing.

I also suspect the legitimacy of the ss, but never got to the point to very of wi paybtc.

did the deal then take place or are they still owned by the one candoo or yup or whoever has paid them in?

mind to clarify please yup.candoo:-)

he is yup.

wasn´t it you who sold them already for 30 cents on the dollar to yup?

In god we trust!!

Hope to get back all my coins ASAP

All these get rich schemes and scams are causing me to drop some forum topics.

i spent the $20.32 i had in gox on a market order with ask @ $7.75, commencing this dead cat bounce

That says quite a bit right there... 

here's that link you asked for back on some other thread:  https://bitcointalksearch.org/topic/m.1078140

LOL and why would I not believe it?

I have 0..i repeat...0 bitcoins with any PPT or other "scheme".

Can you say that same?

it did work for me. i now believe in it! 

They are kind of preselected for that.

Great, now continue repeating it, until you start to believe it yourself

I will say this again:

All of these PPT's and interest earning "schemes" that are going on will likely not end pretty.

Someone will get burned and will lose big time in their bitcoin investment.

And the funny thing is people on this forum are so willing to send their bitcoins to said-operator of the "scheme" with no signed contract/paperwork.

Mark my words, someone will get burned.

Or it could be that both moves were his to get him "the weekend off" by slowing everything down a bit

Anybody know what happened to MtGox's dark pool book after it ceased operating? Gosh, I wonder.

LOL this is just perfect. 

There's another thread about this exact same topic with a title along the lines of "The current bubble is a Pirate bubble."  Personally, I agree but I don't have anything to back it up other than speculation.


This is a cool idea but it still doesn't beat just opening a business or investing in a business.  In the plan you've described he can come out ahead but only because the value of the BTC he didn't give away as interest increased.  If he started a BTC business not only would the BTC price go up from increasing the BTC economy but he'd be able to make back the BTC he gave away/invested.


I think I've found the flaw in your plan.  I'm not saying earning 7% a week is impossible but it's pretty hard.  You've still got to handle temporary swings in supply and demand.  Pirate's never (until yesterday!) fiddled with the interest rates to account for these short-term swings (something a legitimate business would have done often, probably every week or day).  Finally, his debt is denominated in Bitcoins and the price has doubled in the past three months.  That means he's got to bring in more and more new business just to pay the interest for a constant amount of customers.  His customer base hasn't been constant, though - it's been rapidly increasing.  No business can run with this terrible of an outlook so Pirate gets around those limitations by running a Ponzi.

his would be dump, turned into a rally

pirate40 must be shitting bricks!