BREAKING: SEC Charges pirateat40 With Running Bitcoin-Denominated Ponzi Scheme - page 10.

jackjack

legendary

Activity: 1176

Merit: 1280

May Bitcoin be touched by his Noodly Appendage

Quote from: Phinnaeus Gage on July 23, 2013, 03:33:15 PM

Do people need to be hit over the fuckin' head to be shown that BFL is not operating on the up-and-up?

Yes

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

Quote from: btceic on July 23, 2013, 03:13:47 PM

Quote from: Phinnaeus Gage on July 23, 2013, 02:47:33 PM

Quote from: IIOII on July 23, 2013, 02:42:58 PM

Quote from: piotr_n on July 23, 2013, 02:08:07 PM

The only question is: where is the money?
Someone obviously took it, and IMO pirateat40 was just a poor sucker, in all this scam.

Didn't he ''invest'' the coins in another ponzi?

You know what? That's a valid point! Maybe not a ponzi, per se, but a business. I believe that Trendon Shavers was the VC that funded BF Labs Inc. I think the SEC should look into Butterfly Labs to make sure that wasn't the case. It sure would explain why BFL never stated who the VC was, in spite of many request.

Phinnaeus,
You need to try harder on this crusade youv'e got going on bfl, do something that really affects their business and then you've got something! Maybe a couple of websites, some adwords campaings etc.

I'll just add this quote to this one:

Quote

Howdy Y'all

So there seems to be an ever-growing list of topics and links regarding information about what exactly I do to pay my lenders. Most of the information seems to be fabricated by people wearing pointy foil hats. On the other hand there are a few respected members of the community that seem to have fallen into the FUD world which has become... this forum. As you can imagine, knowing what I know about what I do, it's been pretty entertaining to watch. I must admit, I do enjoy the thrill of getting a reaction from some of these nuts, but there does come a time when you have to stop throwing fuel on the fire.

greyhawk

hero member

Activity: 952

Merit: 1009

Quote from: Phinnaeus Gage on July 23, 2013, 03:35:40 PM

I don't think so, GH. He took 30 minutes to search this forum. Roll Eyes

That'll teach me to get my hopes up.

elux

legendary

Activity: 1458

Merit: 1006

Quote from: pirateat40 on July 04, 2012, 07:11:46 PM

Quote from: Vladimir on July 04, 2012, 07:01:15 PM

Quote from: pirateat40 on July 04, 2012, 06:51:01 PM

Quote from: Vladimir on July 04, 2012, 06:31:49 PM

Quote from: pirateat40 on July 04, 2012, 06:24:44 PM

Quote from: Vladimir on July 04, 2012, 05:51:55 PM

I've answered your question, Pirate.

Now you answer mine please.

Is there any hard evidence of any value producing economic activity of your operation except taking deposits, paying "dividends" and converting BTC into USD?

i.e. marketing, PR and damage control do not count.

I think it is a simple and fair question that any legitimate business, even anonymous one, should be able to answer quickly and easily.

If I pulled all my influence on the market things would be much different. Everyone assumes I'm always applying the brakes (ask walls) in the market but the door swings both ways. I've been present in the market since day one.

Not a shred of hard evidence, just some cheap rhetoric, unfortunately. I've been absent in the market since day two, so what?

You want evidence? LOL, if you knew what I know, I'd be hounding you. Tongue

fixed the quotes for ya. np.

How mysterious. Still only cheap rhetoric, though.

let's be objective.

- plenty of evidence of taking "deposits"
- plenty of evidence of paying "dividends"
- no evidence whatsoever of any economic activity and no any viable hypothetical biz models even.
- ALL the signs of a ponzi scheme in abundance.

In any case, we will know everything soon, right, was it 27th of July?
It could fold quicker, though, some unexpected newsflow and change of market conditions could force the matter before that perhaps.

The tide will go out eventually.

Right it's a ponzi you WIN. Take out all the money you have in my operation. RUN FOR THE HILLS!!

You don't have a shred of evidence or even an idea of what I do. I truly don't think I could think as slow as you if I tried.

Keep up your good will!!!! TEACH FEAR!

This was... Ahh, five weeks and change before closing day. Wink

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

Quote from: greyhawk on July 23, 2013, 03:31:30 PM

Quote from: ?? on ??

Please tell me you pulled that list out of a folder tagged "Incriminating material in case I need it"

I don't think so, GH. He took 30 minutes to search this forum. Roll Eyes

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

Quote from: btceic on July 23, 2013, 03:13:47 PM

Quote from: Phinnaeus Gage on July 23, 2013, 02:47:33 PM

Quote from: IIOII on July 23, 2013, 02:42:58 PM

Quote from: piotr_n on July 23, 2013, 02:08:07 PM

The only question is: where is the money?
Someone obviously took it, and IMO pirateat40 was just a poor sucker, in all this scam.

Didn't he ''invest'' the coins in another ponzi?

You know what? That's a valid point! Maybe not a ponzi, per se, but a business. I believe that Trendon Shavers was the VC that funded BF Labs Inc. I think the SEC should look into Butterfly Labs to make sure that wasn't the case. It sure would explain why BFL never stated who the VC was, in spite of many request.

Phinnaeus,
You need to try harder on this crusade youv'e got going on bfl, do something that really affects their business and then you've got something! Maybe a couple of websites, some adwords campaings etc.

Funny thing is others were saying the same thing about Pirate till after the fall, then a different tune was heard a playin'.

Do people need to be hit over the fuckin' head to be shown that BFL is not operating on the up-and-up?

greyhawk

hero member

Activity: 952

Merit: 1009

Quote from: ?? on ??

Please tell me you pulled that list out of a folder tagged "Incriminating material in case I need it"

candoo

hero member

Activity: 602

Merit: 500

Vertrau in Gott

Quote from: ?? on ??

maybe we will see the stolen BTC coming back!

hahaha the btc had been paid to other investors. Some of them cashed out instead of keeping all the profits.

bitcoindigi

full member

Activity: 238

Merit: 100

Quote from: Moogle on July 23, 2013, 01:00:31 PM

make me nervous about my money in coinlenders now. my heart jumped when i first read it

you make like 1.8% per month, that's at least nothing too uncommon

btceic

sr. member

Activity: 392

Merit: 250

♫ A wave came crashing like a fist to the jaw ♫

Quote from: Phinnaeus Gage on July 23, 2013, 02:47:33 PM

Quote from: IIOII on July 23, 2013, 02:42:58 PM

Quote from: piotr_n on July 23, 2013, 02:08:07 PM

The only question is: where is the money?
Someone obviously took it, and IMO pirateat40 was just a poor sucker, in all this scam.

Didn't he ''invest'' the coins in another ponzi?

You know what? That's a valid point! Maybe not a ponzi, per se, but a business. I believe that Trendon Shavers was the VC that funded BF Labs Inc. I think the SEC should look into Butterfly Labs to make sure that wasn't the case. It sure would explain why BFL never stated who the VC was, in spite of many request.

Phinnaeus,
You need to try harder on this crusade youv'e got going on bfl, do something that really affects their business and then you've got something! Maybe a couple of websites, some adwords campaings etc.

gweedo

legendary

Activity: 1498

Merit: 1000

Round them up. When is payb.tc who is now Hightower, going to get some charges. He is another croward, just changes his name so the heat can't stick. I hope he faces some charges, I hope he is scared like the croward he is.

I am also glad to see my call with the SEC back when it was happening actually lead to charges!

zoinky

hero member

Activity: 811

Merit: 1000

Web Developer

Good riddance. Glad to see justice is being served.

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

Quote from: IIOII on July 23, 2013, 02:42:58 PM

Quote from: piotr_n on July 23, 2013, 02:08:07 PM

The only question is: where is the money?
Someone obviously took it, and IMO pirateat40 was just a poor sucker, in all this scam.

Didn't he ''invest'' the coins in another ponzi?

You know what? That's a valid point! Maybe not a ponzi, per se, but a business. I believe that Trendon Shavers was the VC that funded BF Labs Inc. I think the SEC should look into Butterfly Labs to make sure that wasn't the case. It sure would explain why BFL never stated who the VC was, in spite of many request.

greyhawk

hero member

Activity: 952

Merit: 1009

Quote from: IIOII on July 23, 2013, 02:42:58 PM

Quote from: piotr_n on July 23, 2013, 02:08:07 PM

The only question is: where is the money?
Someone obviously took it, and IMO pirateat40 was just a poor sucker, in all this scam.

Didn't he ''invest'' the coins in another ponzi?

Nope. According to the indictment he invested them into his gut.

IIOII

legendary

Activity: 1153

Merit: 1012

Quote from: piotr_n on July 23, 2013, 02:08:07 PM

The only question is: where is the money?
Someone obviously took it, and IMO pirateat40 was just a poor sucker, in all this scam.

Didn't he ''invest'' the coins in another ponzi?

elux

legendary

Activity: 1458

Merit: 1006

Well, well, well. About damn time.

Read the whole complaint (the actual indictment) here.

I hope they keelhaul him and flog his co-operators.

piotr_n

legendary

Activity: 2053

Merit: 1356

aka tonikt

The only question is: where is the money?
Someone obviously took it, and IMO pirateat40 was just a poor sucker, in all this scam.

BorderBits

sr. member

Activity: 275

Merit: 250

The SEC should have deferred to BTCTalk for punishment. A bunch of fucking idiots who believed 7% weekly returns are a possibility should be happy with their scammer tag above his avatar. It would be a real shame if all of the fucking morons who threw their bit at such stupidity were able to recoup anything.

Severian

sr. member

Activity: 476

Merit: 250

Quote from: TheKoziTwo on July 23, 2013, 01:01:53 PM

Unbelievable how stupid this guy is.

He's just a little smarter than the people that gave their bitcoins to him and won't ever see them again.

btceic

sr. member

Activity: 392

Merit: 250

♫ A wave came crashing like a fist to the jaw ♫

we should all go visit him in prison and get our last laugh!

Topic: BREAKING: SEC Charges pirateat40 With Running Bitcoin-Denominated Ponzi Scheme - page 10. (Read 44440 times)