Bryan Micon's List of BTC Ponzi Schemes that should not be listed as "Lending" - page 25.

Raoul Duke

legendary

Activity: 1358

Merit: 1002

Quote from: gene on August 14, 2012, 04:01:40 PM

Quote from: Clipse on August 14, 2012, 03:57:20 PM

Quote from: gene on August 14, 2012, 03:44:08 PM

Interesting turn of events. Even so, the core ponzi scam can probably continue for some time, along with the various leeching schemes.

Clawbacks can't happen unless operators and other participants are positively identified. However, if someone slips up, it is possible that a dedicated set of doxers could trace things back quite a ways. Most people do not have the combined skill and discipline to maintain perfect anonymity. With any luck, the trail will permit for some to be identified.

We know what pirate looks like and also his name, unless he gets plastic surgery and lives in the form of Michael Jackson its even more unlikely he would be able to just vanish.

Really? What is his name? Source?

Late to the ponzi party, are we?

drakahn

hero member

Activity: 504

Merit: 500

Quote from: gene on August 14, 2012, 04:01:40 PM

Quote from: Clipse on August 14, 2012, 03:57:20 PM

Quote from: gene on August 14, 2012, 03:44:08 PM

Interesting turn of events. Even so, the core ponzi scam can probably continue for some time, along with the various leeching schemes.

Clawbacks can't happen unless operators and other participants are positively identified. However, if someone slips up, it is possible that a dedicated set of doxers could trace things back quite a ways. Most people do not have the combined skill and discipline to maintain perfect anonymity. With any luck, the trail will permit for some to be identified.

We know what pirate looks like and also his name, unless he gets plastic surgery and lives in the form of Michael Jackson its even more unlikely he would be able to just vanish.

Really? What is his name? Source?

Why do you need to know his name? I assume you aren't invested.
Apart from that its not for anyone else to give out anyones details

gene

sr. member

Activity: 252

Merit: 250

Quote from: Clipse on August 14, 2012, 03:57:20 PM

Quote from: gene on August 14, 2012, 03:44:08 PM

Interesting turn of events. Even so, the core ponzi scam can probably continue for some time, along with the various leeching schemes.

Clawbacks can't happen unless operators and other participants are positively identified. However, if someone slips up, it is possible that a dedicated set of doxers could trace things back quite a ways. Most people do not have the combined skill and discipline to maintain perfect anonymity. With any luck, the trail will permit for some to be identified.

We know what pirate looks like and also his name, unless he gets plastic surgery and lives in the form of Michael Jackson its even more unlikely he would be able to just vanish.

Really? What is his name? Source?

drakahn

hero member

Activity: 504

Merit: 500

http://consc.net/misc/proofs.html lol, same proof?

Clipse

hero member

Activity: 504

Merit: 502

Quote from: gene on August 14, 2012, 03:44:08 PM

Interesting turn of events. Even so, the core ponzi scam can probably continue for some time, along with the various leeching schemes.

Clawbacks can't happen unless operators and other participants are positively identified. However, if someone slips up, it is possible that a dedicated set of doxers could trace things back quite a ways. Most people do not have the combined skill and discipline to maintain perfect anonymity. With any luck, the trail will permit for some to be identified.

We know what pirate looks like and also his name, unless he gets plastic surgery and lives in the form of Michael Jackson its even more unlikely he would be able to just vanish.

gene

sr. member

Activity: 252

Merit: 250

Interesting turn of events. Even so, the core ponzi scam can probably continue for some time, along with the various leeching schemes.

Clawbacks can't happen unless operators and other participants are positively identified. However, if someone slips up, it is possible that a dedicated set of doxers could trace things back quite a ways. Most people do not have the combined skill and discipline to maintain perfect anonymity. With any luck, the trail will permit for some to be identified.

unclescrooge

hero member

Activity: 868

Merit: 1000

Quote from: koin on August 14, 2012, 02:51:37 PM

those who have already withdrawn their original principal might be thinking they can't lose. they might want to read this:

Quote

If the games were unlicensed and illegal, any transactions from the games were void. Investors’ money handed to winning players like Maguire could be clawed back through civil suits.

http://www.celebuzz.com/2012-08-13/ponzi-mastermind-who-lost-clients-millions-in-hollywood-poker-breaks-silence-new-details-inside-games-played-by-tobey-maguire-ben-affleck-and-matt-damon

Oh shut up fascist. I have no problem with ponzi talks and whinnings, but don't drag the parasites that be into this, thanks.

Shadow383

sr. member

Activity: 336

Merit: 250

Quote from: koin on August 14, 2012, 02:51:37 PM

those who have already withdrawn their original principal might be thinking they can't lose. they might want to read this:

Quote

If the games were unlicensed and illegal, any transactions from the games were void. Investors’ money handed to winning players like Maguire could be clawed back through civil suits.

http://www.celebuzz.com/2012-08-13/ponzi-mastermind-who-lost-clients-millions-in-hollywood-poker-breaks-silence-new-details-inside-games-played-by-tobey-maguire-ben-affleck-and-matt-damon

There's no legal framework for doing "claw-back" of bitcoins.

If stability is the issue then wouldn't it make sense to incentivise based on the stability of accounts (such as the 0.5% bonus for account balance staying within a certain range) rather than on the overall size of accounts?

koin

legendary

Activity: 873

Merit: 1000

those who have already withdrawn their original principal might be thinking they can't lose. they might want to read this:

Quote

If the games were unlicensed and illegal, any transactions from the games were void. Investors’ money handed to winning players like Maguire could be clawed back through civil suits.

http://www.celebuzz.com/2012-08-13/ponzi-mastermind-who-lost-clients-millions-in-hollywood-poker-breaks-silence-new-details-inside-games-played-by-tobey-maguire-ben-affleck-and-matt-damon

koin

legendary

Activity: 873

Merit: 1000

Quote from: makomk on August 14, 2012, 01:48:43 PM

5% weekly, that's something like 1164% annualized I think? Still well into classical-ponzi territory.

same level of risk (unable to withdraw principal plus any reinvested interest).

there's now a much longer period before new investment or reinvestment will break even.

i wonder what time it is on the ponzi doomsday clock. it must be getting close to 11:59.

labestiol

sr. member

Activity: 434

Merit: 251

If he really wanted stability he would have put a bonus on stable deposits, while reducing the interest.
Basically stable deposits would get the same interests rate, and unstable would get less.

But as far as I know, he's not doing that. So imo either his business model is less profitable (and it's not related to funds stability) , either he just doesn't want to give you that much money anymore because the ponzi is collapsing too fast (depending on your opinion on what pirate is doing)

wachtwoord

legendary

Activity: 2324

Merit: 1125

So deposit funds for longer periods such as with Hashking ...

unclescrooge

hero member

Activity: 868

Merit: 1000

Quote from: labestiol on August 14, 2012, 02:17:13 PM

Quote from: ?? on ??

Quote from: wachtwoord on August 14, 2012, 02:06:00 PM

Does Pirate clarify this decision anywhere on the forums? It comes very fast after the restructuring of the accounts. Curious what triggered this sudden change.

Code:

 hashking, I tried to hold off thinking the operating wallets would balance out but they haven't fast enough so Im having to hold more reserves which is eating into my profit margin.
 ok.
 you need more coin or less?
 probably less withdrawals/deposits
 sounds like he needs less in / out
 Its a stability thing, its getting harder and harder to predict when coins will come in and go out.
 i see
 So I'll have times when im holding too many coins in op wallets and move some over and then get a flood of withdraws.
 could you just lock it so we can only take out on mondays or someting?
 Yea, but i hate limiting people moving funds.

Here, for those curious about the reason.

How does a rate decrease help stability ?

Discuss that...

It doesn't help stability, it helps him staying profitable because instability eats his margin.

And we can thank ponzis boys for increasing instability I think...

Clipse

hero member

Activity: 504

Merit: 502

Quote from: labestiol on August 14, 2012, 02:17:13 PM

Quote from: ?? on ??

Quote from: wachtwoord on August 14, 2012, 02:06:00 PM

Does Pirate clarify this decision anywhere on the forums? It comes very fast after the restructuring of the accounts. Curious what triggered this sudden change.

Code:

 hashking, I tried to hold off thinking the operating wallets would balance out but they haven't fast enough so Im having to hold more reserves which is eating into my profit margin.
 ok.
 you need more coin or less?
 probably less withdrawals/deposits
 sounds like he needs less in / out
 Its a stability thing, its getting harder and harder to predict when coins will come in and go out.
 i see
 So I'll have times when im holding too many coins in op wallets and move some over and then get a flood of withdraws.
 could you just lock it so we can only take out on mondays or someting?
 Yea, but i hate limiting people moving funds.

Here, for those curious about the reason.

How does a rate decrease help stability ?

Discuss that...

A.) Everyone get 7% and deposit/withdraw habbits is all over the place, assume due to these situations pirate effectively can only generate 10% returns on whatever he is doing.

B.) Everyone get 5% and deposit/withdraw habbits is all over the place, assume due to these situations pirate effectively can only generate 10% returns on whatever he is doing.

Pretty clear that from a profitable margin option B is helping alot more than option A.

Serge

legendary

Activity: 1050

Merit: 1000

^^ it helps maintain healthy bottom line. stability can't be predicted with no hardcoded limits on withdraw/deposits

labestiol

sr. member

Activity: 434

Merit: 251

Quote from: ?? on ??

Quote from: wachtwoord on August 14, 2012, 02:06:00 PM

Does Pirate clarify this decision anywhere on the forums? It comes very fast after the restructuring of the accounts. Curious what triggered this sudden change.

Code:

 hashking, I tried to hold off thinking the operating wallets would balance out but they haven't fast enough so Im having to hold more reserves which is eating into my profit margin.
 ok.
 you need more coin or less?
 probably less withdrawals/deposits
 sounds like he needs less in / out
 Its a stability thing, its getting harder and harder to predict when coins will come in and go out.
 i see
 So I'll have times when im holding too many coins in op wallets and move some over and then get a flood of withdraws.
 could you just lock it so we can only take out on mondays or someting?
 Yea, but i hate limiting people moving funds.

Here, for those curious about the reason.

How does a rate decrease help stability ?

Discuss that...

wachtwoord

legendary

Activity: 2324

Merit: 1125

So he should introduce the same system as Hashking for predictability and be done with it. Lowering the rates will lead to more withdrawals I think.

wachtwoord

legendary

Activity: 2324

Merit: 1125

Does Pirate clarify this decision anywhere on the forums? It comes very fast after the restructuring of the accounts. Curious what triggered this sudden change.

makomk

hero member

Activity: 686

Merit: 564