Topic: Bitcoin Savings and Trust | Home | Closed - page 13. (Read 802102 times)

You're right, just like a politician. As Pirate offered, actions speak volumes.


So what valid reason do you have to be angry? I haven't bothered following your rants: are you invested with Pirate?

And why is the incentive to bring the 'susceptible' into the core so weak? Many PPTs hold reserves in case of a Pirate default. If anything, the new policy tries to strike a very delicate balance and protect those who make the decision to partake.

Not to mention the fact that 'personal responsibility' includes the word personal for a reason.

Have you ever run a legitimate business?

This matches a politician's skill in evading to answer the questions posed.

I merely asked for an explanation of the extreme dependence between the size of individual deposits and returns. This is a classic HYIP aspect, and the current changes should make an explanation even more difficult. This is a pretty clear point that does not call for hiding in fancy wording.



psy... let me answer that. Yes, the link makes pretty clear why a Ponzi often desires to put limits on its growth, see his initial trouble with "The Whale". Limiting growth lengthens the lifetime of a Ponzi, increasing overall returns. It might help to understand my position before trying to flame it away. Strange how it's the same users and the same types of posts, I only ever remember you from pro-pirate posts.

If it makes you feel better, I'll be keeping this post of yours for later reference, just as I encourage everyone to nag me with mine if I turn out wrong.



It doesn't take an oracle to guess whom my posts are not directed at, and why I'm angry. The more interesting question is, why are so many "investors" angry, and what purpose does a post serve that tells me to fuck off instead of addressing any arguments? If this were just about silently reaping returns, there's really not much reason to engage in enormous flamewars. But this is about dragging in more people fast, and the susceptible ones only. This is why the forum flamewar becomes important, and this is why I deliberately broke the usual forum etiquette.

Well, you are right insofar as I'm running out of time I can spend whiteknighting. I'll just conclude for now that there wasn't a single argument that made sense to me, the counters came almost exclusively from users I was already tracking for excessive BS&T "discussion" involvement, and they mostly consist of "GTFO" or copypasta-quality text to bury my posts.

Well, so I will "STFU and GTFO" for now. There's only a single account left I was probing for the blacklist, which is quite the quota given the short time-frame of this little intermezzo.

It would be great to get a detailed rundown of exactly what rates you will be paying the trust accounts

Going to wait and see how all this pans out.

I send a PM but I'm sure you're flooded with them right now. Perhaps some more information about the requirements for opening/converting to a trust account could be posted, since many people are interested.


Basically the same questions I have. I'm not operating a PPT in the traditional sense, but have several friends who have invested with me in person.

Here's something to consider..

The trust accounts seem structured to manage other accounts.  Perhaps the security deposit is to make sure you've got skin in the game so you don't screw those sub accounts. Just a thought. 

The nay sayers have said their nay, now GTFO.  No one is asking to be warned (we've already been warned) and we aren't asking to be converted. You're seriously wasting everyone's time, including your own.

Speaking about that, would you be kind enough to rate me on OTC?
I would like to rate you, but before i have some ratings I can't do it. Nor to you or to any of the others I've done business with before.

Thank you. You've been very kind to me so far.

If you have a problem with what I respond to in-thread you can always contact me directly.

 

Made me chuckle.

I can't speak for the others, but perhaps I can shed some light on these two.

The security deposit is an incentive to uphold Pirate's good name. After all, reputation is more important than all the Bitcoins in the blockchain, and once tarnished its no easy feat to restore.

Reducing the interest rate is another incentive structure. There's undoubtedly been excessive demand to board Pirate's party ship, but it would be a slap in the face to allow anyone on when the requirements have offered a glorious port for existing depositors over the past several months. It would also be direct competition if Pirate were to offer access to all, causing mass withdrawals from PPT providers and relegating their hard-won efforts to recipients of lower rates. New depositors would be gleeful, but he would risk the ire of others whom had built up their own services.

Lastly, since there are probably plenty of people preferring Pirate's service over PPTs, the trade off will have to be a lower return, resulting in greater profit for Pirate having to take on additional management duties, den if they are mostly automated.

This is an operation being run more responsibly than many brick-and-mortar firms. Dwolla could certainly learn a thing or two. I also have my suspicions that this service may be a primary reasons the exchange rates have been mostly stable since March, making Bitcoin that much more attractive to non-tech businesses. Tip o' th' hat to the Pirate.

* Disclaimer: I hold small deposits at various PPTs which might barely be enough to open an account with Pirate directly. The majority of my assets are put to work through my own efforts elsewhere, because relying on someone else to make everything happen for you often leads to a life not worth living.

Vandroyi, 2 words for you: STFU or GTFO.

I know for a fact that Pirate has been refusing new accounts, and I talk about accounts who would give him thousands of BTC to earn if his plan was to just run away with it.
3 days ago I got one of the persons I referred asking me why would'n Pirate accept him/respond to him.
Does that really fit with the story of the link you posted?

You're just a jealous son of a bitch, so do us all a favour and just GTFO...

Would that include being more likely to get a response to an attack from someone who you have no dealings with vs that of an honest question put forth by someone who trusts you with an investment ?

thats awesome, just goin through the stuff...

cheers

There is a very large charity oriented Bitcoin thread:  https://bitcointalk.org/index.php?topic=52543.0;topicseen

All Pirate customers are welcome to contribute.  And, as you said, a separate charity pool could be formed either based on or in conjunction with the Bitcoin 100.

Reputation? Since when have it tried to SELL SELL SELL anything I do?  Reputation is not something you say, it's created by what you do.

Sure. And, of course, to you personally for my outrageous behavior. After all, I am insulting the nice person who gives anyone free money.

But for now, this is not the situation. Care to actually break the method of the artificially distant Ponzi operator and engage in a brief discussion? After all, I have absolutely no reason to act like this if it is all a big misunderstanding.

Let's keep it simple for starters. We could really use a hint as to why returns are so strongly dependent on the size of individual deposits, if not for the reason documented in the Currin Trading Ponzi (http://web.archive.org/web/20091026234156/http://geocities.com/currintrading/ On a side note, the text also documented neatly why an operator rarely replies to garbage like this).

If time allows, I have one more enigma here: it is quite remarkable how relative fluctuations of deposits degraded over time, isn't it? Or has anyone heard of major series of forced withdrawals lately?

I think these should be valid questions, not just garbage. And, quite frankly, it's not like I am the only person who suspects a Ponzi here. If there is a satisfactory answer, it should help the overall reputation of BS&T quite a bit, independent of whether the question is garbage.



I am here not only for profit, but out of passion for Bitcoin and its free market. I do not like how "free" at times becomes a synonym for "anarchic". We will all suffer the damage of that, and it outright endangers the project to have all these major shake-ups while the Bitcoin markets are still young and relatively fragile.

Arrr, polly is a chameleon

For a second, I thought that might have also included my previous post....but alas, MY garbage doesn't seem to qualify.

Love the new red parrot on the avatar BTW....

Love it!

pirate, just had an idea, why don't you start an account, where, people can send any amount of money to, as donations basically, it becomes part of the pool. Let that be a non-stop recurring interest account.

You could contribute that as added goodwill to the whole episode at another level altogether.

The forum could have a poll every year, for contributing that money for voted purposes on the forum. Could be anything, but mostly charity oriented.

cheers

do not know if I am talking too much, or you must already have something like that going on.