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copumpkin

donator

Activity: 266

Merit: 252

I'm actually a pineapple

Quote from: hazek on July 03, 2012, 05:17:07 PM

Quote from: miscreanity on July 03, 2012, 05:10:47 PM

There have been some very good posts that you've made elsewhere; this fanatical desire to tilt at windmills is truly beneath you and insulting to your intelligence. Nobody wins from this scorched earth method. Stop it and go find a cause that's worthwhile.

Awww

Thank you! Kiss

But the thing is I'm having immense fun thinking I could be ruining the "fun" of a scammer so my posts might be formulated childishly but they still contain valid arguments and valid red flags I will not stop spreading.

I might even take your advice and make a special thread and bump it all the time as well.

Okay, fine, I'm making too much money here to let you keep doing this. Where should I send the 10k to shut you up?

hazek

legendary

Activity: 1078

Merit: 1002

Quote from: miscreanity on July 03, 2012, 05:10:47 PM

There have been some very good posts that you've made elsewhere; this fanatical desire to tilt at windmills is truly beneath you and insulting to your intelligence. Nobody wins from this scorched earth method. Stop it and go find a cause that's worthwhile.

Awww

Thank you! Kiss

But the thing is I'm having immense fun thinking I could be ruining the "fun" of a scammer so my posts might be formulated childishly but they still contain valid arguments and valid red flags that I will not stop raising.

I might even take your advice and make a special thread and bump it all the time as well.

copumpkin

donator

Activity: 266

Merit: 252

I'm actually a pineapple

Quote from: hazek on July 03, 2012, 05:02:43 PM

Quote from: pirateat40 on July 03, 2012, 04:57:55 PM

Quote from: Vandroiy on July 03, 2012, 04:49:00 PM

We're pages into the latter. Still no explanation, still it looks like Pirateat40's decision is a massive loss for him unless it is a Ponzi. Still nothing on the need for insanely large individual accounts to get the 7% yield.

Vandroiy,

You want me to tell you how I run my business? That's your end result, right? You don't care what happens, I tell you what it is and you'd ruin it for my lenders or I don't tell and you keep up the never ending slander.

We got the message, you've warned everyone. I'll be sure to post that "YOU WERE RIGHT" when things come crashing down.

No no... no! We're not stopping, we're going to keep repeating the same red flags until you can't find anyone new to "invest" with you before answering some crucial questions. You see, we're not exposing you so those who already take in to their account the very high risk that you are a fraud before they "invest" with you, no no, we are trying to save those unsuspecting naive people without which, if you are the fraud that we think you are, you're going to go bust ASAP.

Thank God for these white knights

Sukrim

legendary

Activity: 2618

Merit: 1006

Quote from: fred0 on July 03, 2012, 04:58:03 PM

In addition, people getting mandatory withdraws could never happen in a ponzi, since money is always needed to fund the ponzi.

If you grow too fast, you risk not being able to pay out big/early investors (which seem to be the more vocal ones in this thread, since they have - hopefully not just "on paper" but after a successful withdrawal - already multiplied their investment) and your system could collapse early. Also for whatever weird reason people see this as a more reassuring fact.

On a different note:
If anyone is interested in running some blockchain analysis: http://blockchain.info/fb/1gpuma seems to be a payout address to a miner (who also used satoshidice, so don't assume all inputs are from pirate) on GPUMax. http://blockchain.info/fb/1nz2hx for example is with quite high certainty an address controlled by GPUMax and thus pirateat40. Have fun working your way from there!

hazek

legendary

Activity: 1078

Merit: 1002

Quote from: miscreanity on July 03, 2012, 05:10:47 PM

Quote from: hazek on July 03, 2012, 04:34:39 PM

We covered this. We're not necessarily trying to convince you but rather the unsuspecting naive latecomer in hopes to prevent more people to lose money when the scam does eventually go bust and hopefully if we ward off all of them, sooner rather than later.

Why? Are you really so obsessive about Pirate, or do you actually want to bear latecomers' offspring?

Surely it must be that and not that I wouldn't want people to lose money and endlessly suffer right?

miscreanity

legendary

Activity: 1316

Merit: 1005

Quote from: hazek on July 03, 2012, 04:34:39 PM

We covered this. We're not necessarily trying to convince you but rather the unsuspecting naive latecomer in hopes to prevent more people to lose money when the scam does eventually go bust and hopefully if we ward off all of them, sooner rather than later.

Why? Are you really so obsessive about Pirate, or do you actually want to bear latecomers' offspring?

Do you realize what the OP is? That's right - nothing to do with warnings about a Ponzi. By continuing to post here, you bump this thread to the top. Latecomers will see the thread title. How many will read through 69 pages only to come across the Ponzi posts and have an epiphany? What makes that your responsibility?

You'd be more effective at furthering your anti-Pirate cause by creating your own thread and bumping it regularly, or by finding employment at the RIAA, MPAA, US Congress, UK Parliament, or any number of do-gooder 'We know how to live your life better than you do' socialist organizations.

There have been some very good posts that you've made elsewhere; this fanatical desire to tilt at windmills is truly beneath you and insulting to your intelligence. Nobody wins from this scorched earth method. Stop it and go find a cause that's worthwhile.

pirateat40

sr. member

Activity: 378

Merit: 250

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

Quote from: hazek on July 03, 2012, 05:02:43 PM

Quote from: pirateat40 on July 03, 2012, 04:57:55 PM

Quote from: Vandroiy on July 03, 2012, 04:49:00 PM

We're pages into the latter. Still no explanation, still it looks like Pirateat40's decision is a massive loss for him unless it is a Ponzi. Still nothing on the need for insanely large individual accounts to get the 7% yield.

Vandroiy,

You want me to tell you how I run my business? That's your end result, right? You don't care what happens, I tell you what it is and you'd ruin it for my lenders or I don't tell and you keep up the never ending slander.

We got the message, you've warned everyone. I'll be sure to post that "YOU WERE RIGHT" when things come crashing down.

No no... no! We're not stopping, we're going to keep repeating the same red flags until you can't find anyone new to "invest" with you before answering some crucial questions. You see, we're not exposing you so those who already take in to their account the very high risk that you are a fraud before they "invest" with you, no no, we are trying to save those unsuspecting naive people without which, if you are the fraud that we think you are, you're going to go bust ASAP.

Right because this forum are the center of the Bitcoin universe, right? At this point, there's nothing you can do about it. Keep trying though.

hazek

legendary

Activity: 1078

Merit: 1002

Quote from: fred0 on July 03, 2012, 04:58:03 PM

Quote from: Vandroiy on July 03, 2012, 04:49:00 PM

Quote from: fred0 on July 03, 2012, 04:30:39 PM

Has anyone lost money in this so-called ponzi?

I have been a lender since December 2011, pirateat40 has never missed a payment. I actually receive the payment every week, and then redeposit most/all of it back soon after receipt most of the time.

This has "I am a Ponzi scheme victim" written all over it. Ponzi never failed to pay until one moment, from which he never paid again. The same goes for MMM-2011 and all the others. One important reason why it works is that people re-invest too much.

I think that one of the signals of a ponzi is cashflow(bitcoin-flow) problems. Since I have only reinvested after receiving the bitcoin, bitcoin-flow doesn't appear to be a factor. In addition, people getting mandatory withdraws could never happen in a ponzi, since money is always needed to fund the ponzi.

Have you read?: https://bitcointalksearch.org/topic/first-hand-telling-of-an-online-ponzi-eve-onlines-currin-trading-91214 Wink

hazek

legendary

Activity: 1078

Merit: 1002

Quote from: pirateat40 on July 03, 2012, 04:57:55 PM

Quote from: Vandroiy on July 03, 2012, 04:49:00 PM

We're pages into the latter. Still no explanation, still it looks like Pirateat40's decision is a massive loss for him unless it is a Ponzi. Still nothing on the need for insanely large individual accounts to get the 7% yield.

Vandroiy,

You want me to tell you how I run my business? That's your end result, right? You don't care what happens, I tell you what it is and you'd ruin it for my lenders or I don't tell and you keep up the never ending slander.

We got the message, you've warned everyone. I'll be sure to post that "YOU WERE RIGHT" when things come crashing down.

No no... no! We're not stopping, we're going to keep repeating the same red flags until you can't find anyone new to "invest" with you before answering some crucial questions. You see, we're not exposing you so those who already take in to their account the very high risk that you are a fraud before they "invest" with you, no no, we are trying to save those unsuspecting naive people without which, if you are the fraud that we think you are, you're going to go bust ASAP.

imsaguy

vip

Activity: 574

Merit: 500

Don't send me a pm unless you gpg encrypt it.

Don't most ponzis restrict withdrawals? If we are in the 'get as many deposits as possible phase', I'm sure we would have had a "You may only withdraw x% of your deposits at one time" or some such. Instead, a person can cash out almost immediately. I've never had to wait for things any time I have requested a withdrawal.

fred0

sr. member

Activity: 349

Merit: 250

Quote from: Vandroiy on July 03, 2012, 04:49:00 PM

Quote from: fred0 on July 03, 2012, 04:30:39 PM

Has anyone lost money in this so-called ponzi?

I have been a lender since December 2011, pirateat40 has never missed a payment. I actually receive the payment every week, and then redeposit most/all of it back soon after receipt most of the time.

This has "I am a Ponzi scheme victim" written all over it. Ponzi never failed to pay until one moment, from which he never paid again. The same goes for MMM-2011 and all the others. One important reason why it works is that people re-invest too much.

I think that one of the signals of a ponzi is cashflow(bitcoin-flow) problems. Since I have only reinvested after receiving the bitcoin, bitcoin-flow doesn't appear to be a factor. In addition, people getting mandatory withdraws could never happen in a ponzi, since money is always needed to fund the ponzi.

pirateat40

sr. member

Activity: 378

Merit: 250

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

Quote from: Vandroiy on July 03, 2012, 04:49:00 PM

We're pages into the latter. Still no explanation, still it looks like Pirateat40's decision is a massive loss for him unless it is a Ponzi. Still nothing on the need for insanely large individual accounts to get the 7% yield.

Vandroiy,

You want me to tell you how I run my business? That's your end result, right? You don't care what happens, I tell you what it is and you'd ruin it for my lenders or I don't tell and you keep up the never ending slander.

We got the message, you've warned everyone. I'll be sure to post that "YOU WERE RIGHT" when things come crashing down.

Vandroiy

legendary

Activity: 1036

Merit: 1002

miscreanity, that is just a chain of insults without even trying to discuss. I may be acting arrogant, but I post an exact question, and I will not let go of it until it's either answered or I rub in that it cannot be answered.

We're pages into the latter. Still no explanation, still it looks like Pirateat40's decision is a massive loss for him unless it is a Ponzi. Still nothing on the need for insanely large individual accounts to get the 7% yield.

Occam's Razor is calling here. The Ponzi explains what an endless flamewar couldn't. It's profitable, the selective yields limit withdrawals, the forced withdrawals have been controlling growth, and now we're in the phase to get as many deposits as possible.

Quote from: fred0 on July 03, 2012, 04:30:39 PM

Has anyone lost money in this so-called ponzi?

I have been a lender since December 2011, pirateat40 has never missed a payment. I actually receive the payment every week, and then redeposit most/all of it back soon after receipt most of the time.

This has "I am a Ponzi scheme victim" written all over it. Ponzi never failed to pay until one moment, from which he never paid again. The same goes for MMM-2011 and all the others. One important reason why it works is that people re-invest too much.

hazek

legendary

Activity: 1078

Merit: 1002

Quote from: miscreanity on July 03, 2012, 04:24:40 PM

Quit making antagonizing posts when those in the thread have a clear understanding of their participation risk. Go do something productive with your time rather than engaging in mental masturbation.

Ignore.

We covered this. We're not necessarily trying to convince you but rather the unsuspecting naive latecomer in hopes to prevent more people to lose money when the scam does eventually go bust and hopefully if we ward off all of them, sooner rather than later.

fred0

sr. member

Activity: 349

Merit: 250

Has anyone lost money in this so-called ponzi?

I have been a lender since December 2011, pirateat40 has never missed a payment. I actually receive the payment every week, and then redeposit most/all of it back soon after receipt most of the time.

I haven't been very vocal in this forum, but I have a headache from reading most of these posts.

I don't think that calling pirateat40 a scammer is justified. I was pretty vocal int the BFL posts, but eventually wore down. The BFL people were also called scammers, right up to the point that they delivered their product. pirateat40 has also lived up to his word.

It seems to me that bitcoin people are just too smart for me. I'll just continue with my BTCST account, and keep mining on my BFL hardware.

Cheers pirateat40, thanks for everything!

miscreanity

legendary

Activity: 1316

Merit: 1005

Quote from: Vandroiy on July 03, 2012, 04:06:57 PM

I sometimes wonder, are you paid by post or something? I still see no real argument, just more esoteric text and an increasing post count for the two of us.

You still don't get it. Instead, you try to cover up your immaturity with ad hominem ignorance. What you value is not necessarily the same as what others value.

Quit making antagonizing posts when those in the thread have a clear understanding of their participation risk. Go do something productive with your time rather than engaging in mental masturbation.

Ignore.

Mageant

legendary

Activity: 1145

Merit: 1001

Quote from: Sukrim on July 03, 2012, 04:02:57 PM

The "big one" could have been one from MtGox for example.

OK, that is probably a MtGox-address, judging from the amounts and how often they come in.

Nevertheless the total BTC volume of the other large addresses would be in the hundreds of thousands and would likely exceed the total number of deposits at BTCST especially considering that they aren't that old. And they are all immediately following, ie. next step, addresses.

hazek

legendary

Activity: 1078

Merit: 1002

Quote from: Serge on July 03, 2012, 03:35:46 PM

Quote from: Vandroiy on July 03, 2012, 02:52:14 PM

Quote from: coblee on July 03, 2012, 02:35:09 PM

Already discussed and defended ad nauseum: https://bitcointalksearch.org/topic/m.916286

Quote from: coblee on May 23, 2012, 04:17:49 AM

would you rather make 10.65% a week but have some risk of losing your capital if bitcoin fails OR would rather make only 4.67% a week using someone else's capital and have pretty much no risk whatsoever. I think pirate would be stupid to risk his own money.

Do you really want me to do that math for you?

Okay. Whatever. Difference in yields there is 5.98%. Amortization time of risking own money: 12 weeks. However, Pirateat40 pays 7%, so it's shorter even! Bitcoin has survived trading for decent amounts for over a year now, so the decision to use other people's money is a massive loss for him already. In fact, a factor 5.7 using these understated client yields.

Plus, just investing the earnings from the current scheme now and kicking people out would not risk a bitcent of his starting capital!

This is a joke. Next argument, please?

following thoughts come with an assumption that pirate's business is not a ponzi for argument's sake

i figure pirate doesn't have a luxury to keep all the profits for himself otherwise it would be poorly reflected on overall bitcoin economy, he would acquire massive amount of bitcoins but since no one else making such great returns bitcoin demand and price could potentially significantly degrade which could lead to his business drying up as well. by distributing wealth throughout his lenders he ensures bitcoin economy keeps floating and therefore bitcoin demand and attractiveness continues to stay on level and increase.

BWAHAHAHAHAHAHAHA Grin

YOU CAN'T BE SERIOUS Cheesy

Did you hear people? He's giving up profit for the greater good of Bitcoin. Man how deluded can some get.. Roll Eyes

Vandroiy

legendary

Activity: 1036

Merit: 1002

Quote from: miscreanity on July 03, 2012, 03:43:47 PM

(... fancy distracting words about Marie Antoinette ...)

Reputation cannot be bought.

Eeeeyup. Unfortunately, a herd of kinky investors who have money claims on you don't pay as reputation, especially if it looks like you're orchestrating a Ponzi. Wink

I sometimes wonder, are you paid by post or something? I still see no real argument, just more esoteric text and an increasing post count for the two of us.

Maegent: I don't know of any pattern in the block chain that hinders one to transfer the coins in it to gox. Well, you could send to invalid addresses, but that wouldn't make people any happier, now would it?

Sukrim

legendary

Activity: 2618

Merit: 1006

Quote from: Mageant on July 03, 2012, 03:56:55 PM

OK, I have checked where the funds go from my deposit address and I can report that the funds in the next step mostly go to addresses that are used heavily with large amounts.

Post address or PM please...

I won't go as far as calling you a sock puppet, but I'd love to do this research on my own and not just take your word for it.

Edit:
The "big one" could have been one from MtGox for example.

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