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Topic: Bitcoin Savings and Trust | Home | Closed - page 14. (Read 802100 times)

legendary
Activity: 2053
Merit: 1356
aka tonikt
This does not explain the pointless move of limiting account deposits without limiting accounts.
I agree that limiting account size is a bit weird, but I don't understand what kind of argument would it be for you to backup the ponzi theory?

Besides getting new loans to pay off the old debts - it's something that all kind of institutions have been doing for like centuries, all around the world. So why are you jumping on this specific guy? Smiley
sr. member
Activity: 378
Merit: 250
"Yes I am a pirate, 200 years too late."
So there's an unlimited amount of limited accounts? Makes perfect sense.

This is the endgame. Don't pity the fools, they were warned sufficiently.
In case you haven't noticed, there already is an unlimited amount of "limited accounts". Anyone can buy a PPT bond at GLBSE for basically as little as 1 BTC.
With this change, all the PPT businesses (assuming they'd use the trusted accounts) should be able to give more than the basic 3.9%, so the obvious point here is to limit the number of accounts and make them bigger. Not, as you are suggesting, to expand the number of accounts...

This does not explain the pointless move of limiting account deposits without limiting accounts. Nor does the whole show with the savings accounts make sense in the first place! Except to distract from the more obscure account rules which help limit withdrawals, but that couldn't be, now could it?

Also, are people seriously paying a "security deposit" for leaving money with someone else? It's kind of hard to express just how nonsensical that is.

Rules are simple. Game runs as long as the majority keeps playing it. If a limit of withdrawals is exceeded, kill switch, game over. If you want to believe something else, then, well okay, you want to believe something else. That's cute, but wishes can only change things you actually have control over.

So will you guys finally wake up and at least save us all the embarrassment of Pirateat40 freely picking the shutdown time? Yes, I am spreading FUD, and I am ignoring the arguably friendly posts telling me to not do so, because FUD is more than appropriate here!

I'm starting to get grumpy against what one could call the Bitcoin Forum mob. I've been trying my best to help turn the rudder on three phases of insanity with near perfect precision in my forecasts, yet all I get is more ignorance. I am not getting anything in return for this, so careful what you wish for, I might just do the favor everyone wants and stop helping people think. Still, it is absolutely not okay to help flooding or flaming away discussions that may help preventing scams. If anyone would care to read some history about Ponzi Schemes, he would know how users' voices are integral to keep them running.

But it's just like the bubble, just like the shorting mania, just like the leverage mania, why read anything if one can post more drivel instead?

This is getting so ridiculous that after it ends, apologies from the mistaken side are in order, either for the "defamation" I am currently doing, or for advertising a scam in one way or the other. I will gladly give a detailed and well-visible apology should I turn out wrong. The point is that I will not be, and the board will get a nice and voluminous blacklist of people who mindlessly or deliberately made all of this happen. It's not as if an observer can tell the difference.



TL;DR: you did it, I snapped. After you're done noticing your coins are gone, y'all got some explaining to do. Yarr, that's right mateys.

I rarely reply to garbage like this but I'd like to say this...

I expect that when my operation finally ends and not a single coin is lost, you own up to your outlandish claims and apologize to my lenders.

See you then. Smiley
hero member
Activity: 518
Merit: 500

TL;DR: you did it, I snapped. After you're done noticing your coins are gone, y'all got some explaining to do. Yarr, that's right mateys.

Do you have any coins at stake, or are you simply preaching fire and brimstone?
legendary
Activity: 1036
Merit: 1002
So there's an unlimited amount of limited accounts? Makes perfect sense.

This is the endgame. Don't pity the fools, they were warned sufficiently.
In case you haven't noticed, there already is an unlimited amount of "limited accounts". Anyone can buy a PPT bond at GLBSE for basically as little as 1 BTC.
With this change, all the PPT businesses (assuming they'd use the trusted accounts) should be able to give more than the basic 3.9%, so the obvious point here is to limit the number of accounts and make them bigger. Not, as you are suggesting, to expand the number of accounts...

This does not explain the pointless move of limiting account deposits without limiting accounts. Nor does the whole show with the savings accounts make sense in the first place! Except to distract from the more obscure account rules which help limit withdrawals, but that couldn't be, now could it? It's just an innocent little asterisk or two, surely it doesn't hide more holy inexplicable "rules".

Also, are people seriously paying a "security deposit" for leaving money with someone else? It's kind of hard to express just how nonsensical that is.

Rules are simple. Game runs as long as the majority keeps playing it. If a limit of withdrawals is exceeded, kill switch, game over. If you want to believe something else, then, well okay, you want to believe something else. That's cute, but wishes can only change things you actually have control over.

So will you guys finally wake up and at least save us all the embarrassment of Pirateat40 freely picking the shutdown time? Yes, I am spreading FUD, and I am ignoring the arguably friendly posts telling me to not do so, because FUD is more than appropriate here!

I'm starting to get grumpy against what one could call the Bitcoin Forum mob. I've been trying my best to help turn the rudder on three phases of insanity with near perfect precision in my forecasts, yet all I get is more ignorance. I am not getting anything in return for this, so careful what you wish for, I might just do the favor everyone wants and stop helping people think. Still, it is absolutely not okay to help flooding or flaming away discussions that may help preventing scams. If anyone would care to read some history about Ponzi Schemes, he would know how users' voices are integral to keep them running.

But it's just like the bubble, just like the shorting mania, just like the leverage mania, why read anything if one can post more drivel instead?

This is getting so ridiculous that after it ends, apologies from the mistaken side are in order, either for the "defamation" I am currently doing, or for advertising a scam in one way or the other. I will gladly give a detailed and well-visible apology should I turn out wrong. The point is that I will not be, and the board will get a nice and voluminous blacklist of people who mindlessly or deliberately made all of this happen. It's not as if an observer can tell the difference between being or choosing to be mindless.



TL;DR: you did it, I snapped. After you're done noticing your coins are gone, y'all got some explaining to do. Yarr, that's right mateys.
member
Activity: 89
Merit: 10

IMHO it is 10.5 because I was here in the days this epic guy was offering 1.5% a DAY !

Good job pirate. Thanks for clarifying your stance towards PPTs and other issues with these accounts.

Reallly... 10.5%... based on what he paid once upon a time...
he's reducing his rates, not increasing them..
sr. member
Activity: 294
Merit: 250
Bitcoin today is what the internet was in 1998.
 Cry

Would pass-throughs (such as GLBSE bonds) be considered "trust accounts" (managing sub-accounts?) if the issuers fulfill the other requirements?
hero member
Activity: 518
Merit: 500
As I see it, it's a way to decentralize management of these accounts. Basic account is 3.9%, and those with pass-through will be able to compete to attract lenders into their systems where they can offer better rates than 3.9%. People will have an incentive to go to the pass-through instead, reducing the load of work managing accounts. If 75% of the Bitcoins Pirate needs come from 5 or 6 big accounts of 5000+ BTC, it's a lot less trouble than having thousands of accounts with a smaller amount.

It offer the possibility of different pass-through with different types of offers. Pirate just offered great conditions for an interesting and new pass-through market.

I really like where this is going Smiley Good job Pirate!

Also, I have a question. For Trust account, Pirate, you say you offer 5%+ interest. What is the absolute maximum a Trust can get? If it's not a secret... Smiley

IMHO it is 10.5 because I was here in the days this epic guy was offering 1.5% a DAY !

Good job pirate. Thanks for clarifying your stance towards PPTs and other issues with these accounts.
legendary
Activity: 1022
Merit: 1000
BitMinter
sr. member
Activity: 462
Merit: 250
I heart thebaron
Savings accounts will be open without a referral shortly after the change.

Other than the obvious (interest)...... Will there be any incentives or rewards left to those who have remained long-time members in good standing who have chosen not to manage other people's BTC in a Trust account ?
legendary
Activity: 2053
Merit: 1356
aka tonikt
I just wonder what is the "Security Deposit" about.
I mean, under what kind of circumstances the account could get "forcefully closed"?

A trusted account holder breaking the ToS of their account.
Oh, ok. So none of my business..  Smiley
sr. member
Activity: 378
Merit: 250
"Yes I am a pirate, 200 years too late."
I just wonder what is the "Security Deposit" about.
I mean, under what kind of circumstances the account could get "forcefully closed"?

A trusted account holder breaking the ToS of their account.
legendary
Activity: 2053
Merit: 1356
aka tonikt
I just wonder what is the "Security Deposit" about.
I mean, under what kind of circumstances the account could get "forcefully closed"?
legendary
Activity: 2053
Merit: 1356
aka tonikt
Savings accounts will be open without a referral shortly after the change.

So there's an unlimited amount of limited accounts? Makes perfect sense.

This is the endgame. Don't pity the fools, they were warned sufficiently.
In case you haven't noticed, there already is an unlimited amount of "limited accounts". Anyone can buy a PPT bond at GLBSE for basically as little as 1 BTC.
With this change, all the PPT businesses (assuming they'd use the trusted accounts) should be able to give more than the basic 3.9%, so the obvious point here is to limit the number of accounts and make them bigger. Not, as you are suggesting, to expand the number of accounts...
legendary
Activity: 1036
Merit: 1002
Savings accounts will be open without a referral shortly after the change.

So there's an unlimited amount of limited accounts? Makes perfect sense.

This is the endgame. Don't pity the fools, they were warned sufficiently.
legendary
Activity: 1792
Merit: 1000
Will btcmax get an exception to the max-5000 BTC rule? I am guessing he is entrusted with more than 5000 BTC by btcmax.com users.

I'll be working closely with pass-though operators to ensure the process is seamless for it's clients.
It says that the max for "Trust" accounts is unlimited; maybe they'll switch to that.
I like the idea of the security deposit.

My initial reaction is that this is a positive move.

pirateat40, will you still require a referral for the standard savings account? 

Savings accounts will be open without a referral shortly after the change.
Great news  Grin
donator
Activity: 490
Merit: 500

pirateat40, will you still require a referral for the standard savings account?  
+1

Edit:  Awesome!
sr. member
Activity: 378
Merit: 250
"Yes I am a pirate, 200 years too late."
Will btcmax get an exception to the max-5000 BTC rule? I am guessing he is entrusted with more than 5000 BTC by btcmax.com users.

I'll be working closely with pass-though operators to ensure the process is seamless for it's clients.
It says that the max for "Trust" accounts is unlimited; maybe they'll switch to that.
I like the idea of the security deposit.

My initial reaction is that this is a positive move.

pirateat40, will you still require a referral for the standard savings account? 

Savings accounts will be open without a referral shortly after the change.
legendary
Activity: 1792
Merit: 1000
Will btcmax get an exception to the max-5000 BTC rule? I am guessing he is entrusted with more than 5000 BTC by btcmax.com users.

I'll be working closely with pass-though operators to ensure the process is seamless for it's clients.
It says that the max for "Trust" accounts is unlimited; maybe they'll switch to that.
I like the idea of the security deposit.

My initial reaction is that this is a positive move.

pirateat40, will you still require a referral for the standard savings account? 
hero member
Activity: 854
Merit: 1000
Will btcmax get an exception to the max-5000 BTC rule? I am guessing he is entrusted with more than 5000 BTC by btcmax.com users.

I'll be working closely with pass-though operators to ensure the process is seamless for it's clients.
It says that the max for "Trust" accounts is unlimited; maybe they'll switch to that.
sr. member
Activity: 378
Merit: 250
"Yes I am a pirate, 200 years too late."
Will btcmax get an exception to the max-5000 BTC rule? I am guessing he is entrusted with more than 5000 BTC by btcmax.com users.

I'll be working closely with pass-though operators to ensure the process is seamless for it's clients.
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