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Mageant

legendary

Activity: 1145

Merit: 1001

Quote from: Otoh on March 12, 2012, 02:12:12 PM

perhaps a longer term lender could clear up a minor point here for me, I've got my interest set to roll over/reinvest & I assume what has accumulated gets held & put in to a non interest paying reserve until the next investment window opens & is then added to the amount one has that receives the interest payments - is this correct?

No, it gets immediately added to your total and starts accumulating interest. There is no wait.
At least that's how it worked in my account so far.

Otoh

donator

Activity: 3108

Merit: 1166

perhaps a longer term lender could clear up a minor point here for me, I've got my interest set to roll over/reinvest & I assume what has accumulated gets held & put in to a non interest paying reserve until the next investment window opens & is then added to the amount one has that receives the interest payments - is this correct?

pirateat40

sr. member

Activity: 378

Merit: 250

"Yes I am a pirate, 200 years too late."

Quote from: ?? on ??

I have made all my deposits between 4th jan - 18 jan and haven't touched it since and don't intend to (plus all interest is reinvested).

If I commit to a long term deal (so promising not to touch the funds for a year or something) would that entitle me to the high rate?

Sorry that's not the way it works. Sad

Mageant

legendary

Activity: 1145

Merit: 1001

Quote from: pirateat40 on March 08, 2012, 01:30:51 PM

Quote from: ?? on ??

Actually I do have a question, but of course you're free to refuse to answer

Are the rates altered because:

1) Your margins are declining because the underlying business case is declining
2) You want bigger margins for yourself
3) Both 1) and 2)

Smaller accounts are linked to more movement (deposits/withdraws) which equals more time for me. I would rather a few large lenders that are stable than lots of small accounts that jump in and out.

Does stability (ie lack of withdrawals & deposits) affect the interest rate?
You mentioned that on the first page and it wasn't clear to me.

pirateat40

sr. member

Activity: 378

Merit: 250

"Yes I am a pirate, 200 years too late."

Quote from: ?? on ??

Actually I do have a question, but of course you're free to refuse to answer

Are the rates altered because:

1) Your margins are declining because the underlying business case is declining
2) You want bigger margins for yourself
3) Both 1) and 2)

Smaller accounts are linked to more movement (deposits/withdraws) which equals more time for me. I would rather a few large lenders that are stable than lots of small accounts that jump in and out.

mb300sd

legendary

Activity: 1260

Merit: 1000

Drunk Posts

Still the best rate anywhere.

FredericBastiat

sr. member

Activity: 420

Merit: 250

Quote from: pirateat40 on March 07, 2012, 07:43:33 PM

As always, you can deposit at anytime. The new payment terms and rates don't go into effect until the 1st.

Thanks for the update.

pirateat40

sr. member

Activity: 378

Merit: 250

"Yes I am a pirate, 200 years too late."

Quote from: FredericBastiat on March 07, 2012, 07:41:39 PM

Quote from: pirateat40 on March 07, 2012, 07:35:09 PM

As most everyone knows I back everything I do with my own wallet if something were to happen. I run multiple wallets as well and numerous backup and encryption systems to insure everything is secure, cause it's not just your coins, but my money on the line if something were to happen.

Are you accepting deposits now? And if so, with the new terms or the old until the 1st of April?

As always, you can deposit at anytime. The new payment terms and rates don't go into effect until the 1st.

FredericBastiat

sr. member

Activity: 420

Merit: 250

Quote from: pirateat40 on March 07, 2012, 07:35:09 PM

As most everyone knows I back everything I do with my own wallet if something were to happen. I run multiple wallets as well and numerous backup and encryption systems to insure everything is secure, cause it's not just your coins, but my money on the line if something were to happen.

Are you accepting deposits now? And if so, with the new terms or the old until the 1st of April?

pirateat40

sr. member

Activity: 378

Merit: 250

"Yes I am a pirate, 200 years too late."

Quote from: FredericBastiat on March 07, 2012, 06:10:39 PM

Pirate,

You say your demand is low, thus not zero. Does that mean you're accepting or are open for business? Can current accounts members make deposits now either on the old or new program terms?

The demand rating is merely a way for members to know the risk of depositing and getting them right back.

pirateat40

sr. member

Activity: 378

Merit: 250

"Yes I am a pirate, 200 years too late."

Quote from: ShadowAlexey on March 07, 2012, 04:40:41 PM

What will happen if your system gets compromised and funds will be solen?

As most everyone knows I back everything I do with my own wallet if something were to happen. I run multiple wallets as well and numerous backup and encryption systems to insure everything is secure, cause it's not just your coins, but my money on the line if something were to happen.

Otoh

donator

Activity: 3108

Merit: 1166

I don't think that pirate needs any online hot wallets or VPS, why should he - his business business after funding is mostly (all) offline, I'd hope/I assume that he holds most all funds in offline cold storage, as in Armory - his web site certainly has no access to any BTC funds because no need to

ShadowAlexey

donator

Activity: 968

Merit: 1002

There were already several cases when big amounts of coins was stolen from places which we assumed safe,and users lost their funds...
Being a programmer i know that in every system are holes, and some one can crack it, the only thing matters is time\resources it takes...

Raoul Duke

legendary

Activity: 1358

Merit: 1002

But... but... he's a Pirate! Aren't you afraid to walk the plank? How dare you, asking about a Pirate's honesty? Roll Eyes

ShadowAlexey

donator

Activity: 968

Merit: 1002

Quote from: bitlane on March 07, 2012, 05:58:05 PM

Quote from: ShadowAlexey on March 07, 2012, 05:32:41 PM

Quote from: chungenhung on March 07, 2012, 05:17:54 PM

Quote from: ShadowAlexey on March 07, 2012, 04:40:41 PM

What will happen if your system gets compromised and funds will be solen?

I am sure pirate would be smart enough to have multiple wallets, tripple password encryption, storing wallet offline, backups, etc etc

I`m talking about current funds stolen,not all of them, who will take responsibility,users\owner of system?

Judging by your 13 post history, you clearly have no idea just how much of our BTC that Pirate currently 'manages' not to mention, no one else posting any concern in the last 3 months...lol

Welcome to Bitcointalk.org

I`ve been here since june, just wasn`t interested in such things, but after almost all my farm was returned to the stock and i`ve manage to "lost" half of what i mined, i`m searching other ways of increasing my btc amount.
Well the bigger is the business the bigger is the risk and more it attracts scammers\hackers, so i dont find anything weird in asking such things before something will happen.

bitlane

sr. member

Activity: 462

Merit: 250

I heart thebaron

Quote from: fred0 on March 07, 2012, 06:17:12 PM

Quote from: chungenhung on March 07, 2012, 05:17:54 PM

Quote from: ShadowAlexey on March 07, 2012, 04:40:41 PM

What will happen if your system gets compromised and funds will be solen?

I am sure pirate would be smart enough to have multiple wallets, tripple password encryption, storing wallet offline, backups, etc etc

I thought he used insta-wallet?

No. Pirate seems like a Linode VPS kinda guy Wink

fred0

sr. member

Activity: 349

Merit: 250

Quote from: chungenhung on March 07, 2012, 05:17:54 PM

Quote from: ShadowAlexey on March 07, 2012, 04:40:41 PM

What will happen if your system gets compromised and funds will be solen?

I am sure pirate would be smart enough to have multiple wallets, tripple password encryption, storing wallet offline, backups, etc etc

I thought he used insta-wallet?

FredericBastiat

sr. member

Activity: 420

Merit: 250

Pirate,

You say your demand is low, thus not zero. Does that mean you're accepting or are open for business? Can current accounts members make deposits now either on the old or new program terms?

bitlane

sr. member

Activity: 462

Merit: 250

I heart thebaron

Quote from: ShadowAlexey on March 07, 2012, 05:32:41 PM

Quote from: chungenhung on March 07, 2012, 05:17:54 PM

Quote from: ShadowAlexey on March 07, 2012, 04:40:41 PM

What will happen if your system gets compromised and funds will be solen?

I am sure pirate would be smart enough to have multiple wallets, tripple password encryption, storing wallet offline, backups, etc etc

I`m talking about current funds stolen,not all of them, who will take responsibility,users\owner of system?

Judging by your 13 post history, you clearly have no idea just how much of our BTC that Pirate currently 'manages' not to mention, no one else posting any concern in the last 3 months...lol

Welcome to Bitcointalk.org

ShadowAlexey

donator

Activity: 968

Merit: 1002

Quote from: chungenhung on March 07, 2012, 05:17:54 PM

Quote from: ShadowAlexey on March 07, 2012, 04:40:41 PM

What will happen if your system gets compromised and funds will be solen?

I am sure pirate would be smart enough to have multiple wallets, tripple password encryption, storing wallet offline, backups, etc etc

I`m talking about current funds stolen,not all of them, who will take responsibility,users\owner of system?

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