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Topic: Bitcoin Savings and Trust | Home | Closed - page 28. (Read 802100 times)

legendary
Activity: 1358
Merit: 1002
The lazy Starfish likes the poll and has actually said interest rate is a bit high.

However, before someone shoots me, I'm thinking about the longer term and not the nice ride that the past six months has delivered.  There are some structural things that can be done to improve the whole deposit/interest rate trade-off to promote the business, and while 7% is nice for another month, even if it was 5% for another six months that would be better.

1- I only get 5.6%, so, what's your beef?
2- You talk like that because you're making money from the GLBSE speculators

Stop messing around with others business. If Pirate is getting all this unwarranted attention he can thank you and your PPT buddies.
If you wish a lower interest rate, be my guest: withdraw all your money and put it in a bank or on hashking program.



Pirate was getting all sorts of attention long before PPT.  We are trying to counter Pirate risk by offering the insurance.

Yes he was, from lenders. Now he gets attention from jealous haters.
Nice try tho. Did I touch a soft spot? Sorry, I have the tendency to do that...
Also, your insurance is a joke from a mathematical perspective. You can fool the fools, or even fool yourself, but you don't fool me.
vip
Activity: 574
Merit: 500
Don't send me a pm unless you gpg encrypt it.
The lazy Starfish likes the poll and has actually said interest rate is a bit high.

However, before someone shoots me, I'm thinking about the longer term and not the nice ride that the past six months has delivered.  There are some structural things that can be done to improve the whole deposit/interest rate trade-off to promote the business, and while 7% is nice for another month, even if it was 5% for another six months that would be better.

1- I only get 5.6%, so, what's your beef?
2- You talk like that because you're making money from the GLBSE speculators

Stop messing around with others business. If Pirate is getting all this unwarranted attention he can thank you and your PPT buddies.
If you wish a lower interest rate, be my guest: withdraw all your money and put it in a bank or on hashking program.



Pirate was getting all sorts of attention long before PPT.  We are trying to counter Pirate risk by offering the insurance.
legendary
Activity: 1358
Merit: 1002
The lazy Starfish likes the poll and has actually said interest rate is a bit high.

However, before someone shoots me, I'm thinking about the longer term and not the nice ride that the past six months has delivered.  There are some structural things that can be done to improve the whole deposit/interest rate trade-off to promote the business, and while 7% is nice for another month, even if it was 5% for another six months that would be better.

1- I only get 5.6%, so, what's your beef?
2- You talk like that because you're making money from the GLBSE speculators

Stop messing around with others business. If Pirate is getting all this unwarranted attention he can thank you and your PPT buddies.
If you wish a lower interest rate, be my guest: withdraw all your money and put it in a bank or on hashking program.

sr. member
Activity: 250
Merit: 250
I would look for a Pirate Pass Through type scheme in the lending section; there are a number of people offering them.
Those have the advantage of liquidity and higher interest rates for smaller investments, though risk is increased due to an additional middleman.
That! not all pirates are "200 years too late" Wink

Thank you both for the answers though.
hero member
Activity: 518
Merit: 500

Luckily for you, I seem to be out of ammunition. Wink

I certainly agree that a decrease in interest rates for the purpose of long-term sustainability is a good idea, but I'm not sure that's the case. (If that was explicitly stated and I missed it, my apologies.) I suspect lowering interest rates in an attempt to silence the doomsayers would prove fruitless; Pirate could pay 5% and people would still accuse him of money laundering, ponzi scheming, Silk Road business, governmental affiliation, and conspiring with aliens to travel back in time, convince Hitler not to invade Russia, and change the course of history.

Maybe I should be more like "crown of thorns" starfish for self defence and debt collection reasons.

Actually, I don't think any change in interest rates would change the doom-sayers view of the world.
hero member
Activity: 560
Merit: 500
Ad astra.
The lazy Starfish likes the poll and has actually said interest rate is a bit high.

However, before someone shoots me, I'm thinking about the longer term and not the nice ride that the past six months has delivered.  There are some structural things that can be done to improve the whole deposit/interest rate trade-off to promote the business, and while 7% is nice for another month, even if it was 5% for another six months that would be better.

Luckily for you, I seem to be out of ammunition. Wink

I certainly agree that a decrease in interest rates for the purpose of long-term sustainability is a good idea, but I'm not sure that's the case. (If that was explicitly stated and I missed it, my apologies.) I suspect lowering interest rates in an attempt to silence the doomsayers would prove fruitless; Pirate could pay 5% and people would still accuse him of money laundering, ponzi scheming, Silk Road business, governmental affiliation, and conspiring with aliens to travel back in time, convince Hitler not to invade Russia, and change the course of history.
hero member
Activity: 518
Merit: 500
The lazy Starfish likes the poll and has actually said interest rate is a bit high.

However, before someone shoots me, I'm thinking about the longer term and not the nice ride that the past six months has delivered.  There are some structural things that can be done to improve the whole deposit/interest rate trade-off to promote the business, and while 7% is nice for another month, even if it was 5% for another six months that would be better.
hero member
Activity: 560
Merit: 500
Ad astra.
I would look for a Pirate Pass Through type scheme in the lending section; there are a number of people offering them.

Those have the advantage of liquidity and higher interest rates for smaller investments, though risk is increased due to an additional middleman.
legendary
Activity: 1792
Merit: 1000
Ahoy me mateys!

I came across this thread just today. It really sounds like an interesting service and congrats to all the pirates who operate it smoothly for that long. I've read all 46 pages (Shiver me timbers!) so far (well it took me a bit more than 3 hours because English is not my native tongue, but it was worth it) and I think I have a clear understanding of how the system works.

Unfortunately, (Captain) Pirate changed the joining method to referal-only back in February. I can understand the reasons for him doing so, but that's not very good news for me it seems, since I don't know any current pirate (lender) in person for them to refer me.

Just to clarify, I'm not posting this to ask for a referrer (so don't make me walk the plank). I'm just not sure of what I need to do to gain a current lender's trust, so then he/she could "check me in".

In any case, it's always nice to see bitcoin businesses grow and more people adopting the new currency Smiley
Cheers!
I would look for a Pirate Pass Through type scheme in the lending section; there are a number of people offering them.
sr. member
Activity: 250
Merit: 250
Ahoy me mateys!

I came across this thread just today. It really sounds like an interesting service and congrats to all the pirates who operate it smoothly for that long. I've read all 46 pages (Shiver me timbers!) so far (well it took me a bit more than 3 hours because English is not my native tongue, but it was worth it) and I think I have a clear understanding of how the system works.

Unfortunately, (Captain) Pirate changed the joining method to referal-only back in February. I can understand the reasons for him doing so, but that's not very good news for me it seems, since I don't know any current pirate (lender) in person for them to refer me.

Just to clarify, I'm not posting this to ask for a referrer (so don't make me walk the plank). I'm just not sure of what I need to do to gain a current lender's trust, so then he/she could "check me in".

In any case, it's always nice to see bitcoin businesses grow and more people adopting the new currency Smiley
Cheers!

legendary
Activity: 2324
Merit: 1125
The outcome of the poll is quite predictable too. What investor would like lower returns without altering the risk involved in the investment?

Certainly not me.
legendary
Activity: 1316
Merit: 1005
Amusing new poll. Irrespective of the potential Ponzi issue, who runs Pirate's operation: others who postulate fraud, or Pirate himself?

I've already suggested that overall Bitcoin economy growth could support such high rates, and that even if it is a Ponzi, it most likely is to the detriment of the US dollar instead of Bitcoin or investor deposits.
vip
Activity: 574
Merit: 500
Don't send me a pm unless you gpg encrypt it.
Didn't you ever notice that "I control your machine," is an anagram of "GPUMax rocks" in Akkadian?  And of course we all know that the Cajuns are the Akkadians who came to America when the Sea Peoples left the Mediterranean after the collapse of Atlantis.

Didn't you ever notice that "El cat knows things: rum, poxrot" is an anagram of "GPUMax controls this network". And in English, too.



If you're going to bite off my awesome, at least step it up a notch.  Your point-missing skills aren't just limited to sports.

These threads are inevitable annoyances.  I'm arrogating to myself the authorship of "Pirate's Law": As an online discussion regarding pirateat40, btcst, GPUMax, or projects to be referred to as M, P, and X grows longer, the probability of speculation and accusation of unethical or criminal activity approaches is 1.

FTFY
donator
Activity: 2058
Merit: 1007
Poor impulse control.
I heard he figured out time travel in that other thread !

No, someone else figured it out. He just takes advantage of it. Argh.
donator
Activity: 2058
Merit: 1007
Poor impulse control.
Didn't you ever notice that "I control your machine," is an anagram of "GPUMax rocks" in Akkadian?  And of course we all know that the Cajuns are the Akkadians who came to America when the Sea Peoples left the Mediterranean after the collapse of Atlantis.

Didn't you ever notice that "El cat knows things: rum, poxrot" is an anagram of "GPUMax controls this network". And in English, too.

legendary
Activity: 1316
Merit: 1005
PM'd Pirate about withdrawal request, 10 mins later coins are in my wallet. Fassstt Grin Good luck, Pirate!
ppp.... my best is under 30 seconds.
Ditto.
same here Smiley
Pirate was so fast with me, the coins were in my wallet with 144 confirmations before I even asked for them.
It's because he has ESP and he's getting ready to use GPUMAX to 51% the network so he's withholding blocks until he needs the confirmations.  I haven't figured out how to work "ponzi" into this yet, sorry.
I heard he figured out time travel in that other thread !

Nope, it's just "Pirate Cents" Grin
hero member
Activity: 518
Merit: 500
PM'd Pirate about withdrawal request, 10 mins later coins are in my wallet. Fassstt Grin Good luck, Pirate!

ppp.... my best is under 30 seconds.

Ditto.

same here Smiley

Pirate was so fast with me, the coins were in my wallet with 144 confirmations before I even asked for them.

It's because he has ESP and he's getting ready to use GPUMAX to 51% the network so he's withholding blocks until he needs the confirmations.  I haven't figured out how to work "ponzi" into this yet, sorry.

I heard he figured out time travel in that other thread !
sr. member
Activity: 462
Merit: 250
I heart thebaron
...wastin' away again in p-p-Pirateville....
hero member
Activity: 560
Merit: 500
Ad astra.
What do you think would be better, the Pirate Pass Through Bonds, or the real thing?
There "ain't nothing like the real thing, baby".  Grin

But not everyone can get an account, and not everyone wants to deposit enough to get the higher interest rate, so a pass-through, even after the issuers cut, may give a better return.

You do take on an extra dose of counterparty risk though, so you need to trust not only pirate, but also the pass-through issuer.


And GLBSE if it is on GLBSE.

Yep, effectively adding two points of potential failure to the system in exchange for convenience of purchase, liquidity, and increased interest at lower volumes.
hero member
Activity: 518
Merit: 500
What do you think would be better, the Pirate Pass Through Bonds, or the real thing?
There "ain't nothing like the real thing, baby".  Grin

But not everyone can get an account, and not everyone wants to deposit enough to get the higher interest rate, so a pass-through, even after the issuers cut, may give a better return.

You do take on an extra dose of counterparty risk though, so you need to trust not only pirate, but also the pass-through issuer.
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