Topic: centralized post of pirate payouts-It is over. Pirate@scammer admits default - page 24. (Read 80055 times)

Keep dreaming....they all come to an end...whether by being exposed or hyperinflating the currency into oblivion.

The 'extraordinary evidence' will be known in a couple of weeks, So unless you have something other than "OMG THERE IS NO PROOFS" I will continue to call it stupid to make accusations with no evidence but a lack of evidence, especially at a point where you can't even claim to be trying to save people from depositing

If you claimed to have a dragon and refused to offer proof, I would think you might have a dragon but it doesn't effect me, even if I did assume you had no dragon, I would see no need to claim that as fact without any evidence of a lack of dragon

If you were claiming to have a dragon in a brand new ecosystem with extremely fast evolution, and the reason you can't show proof yet is because the proof would show people how to make their own dragons which would stop you from running your dragon farm... I would be more inclined to believe you may be telling the truth... And would defend you against people with no evidence saying dragons are impossible.

Well, that is one ponzi scheme that will NEVER fail...

right...

I cannot wait to start receiving my checks in 30 years!

If you're talking about social security do me a favor and slap yourself in the head.

Only if you can print more money.  Now if Pirate figured that out and made himself the Federal Reserve of the Bitcoin network, well he deserves my respect. 

I am going to need to start a new thread soon for any relevant updates. This is 5 pages already and not relevant.

oh wait... there are no updates or payments from pirate. please continue!

 

My dad receives a check every month from a ponzi he contributed to all of his life, so I know that it is possible to keep paying out on a ponzi scheme.

i believe you

As Carl Sagan used to say, extraordinary claims demand extraordinary evidence. You also have no evidence that I don't have a dragon... yet the burden of proof is on me to show I do. If I don't show it, I'm lying about having a dragon.

You seem to have quite an interesting opinion on what constitutes evidence. The odds are OVERWHELMINGLY in favor of this being a scam. You can cling onto the .1% chance that it's not, if you like.

I didn't name call, that's just another one of your stupid assumptions, I have no proof either way but i am not the one saying 100% That anything is anything, you are, with no evidence, and then calling it evidence, which is stupidity

"you aren't paying that shit back"

That is the wrong quesiton to ask.  It likely can't be answered and that is what the investors hang their hat onto.  The correct question is WHY?  Why would he keep paying out 7% every week on hundreds of thousands of coins?    

For the sake of argument let say this is a real biz (legit or otherwise) which throws off real profits of >7% per week, and happens to need 500K BTC.  Pirate has a great idea but no money so he does what plenty of other business men do... he borrows.  Implausible but certainly possible.  However he is the one taking the risk (especially if not using an alias, running a ponzi and planning to run off with the coinz).  People losing $5M tend to do implusive things.  So a sane business man taking that kind of risk would want a solid reward.  High risk, high reward and that means a solid cut of the profit.  I doubt his "business" is making 8% gross and he is paying out 7% taking all the risk.  Say he is making 14% gross, needs to borrow 500K and is willing to give away half of that to get the operation off the ground.   A stretch but certainly possible.

So yes a business could be making that kind of profit, and could be paying out massive amounts of interest, and could need 500K BTC BUT:
Nobody, not a criminal, not a scumbag, not a oil tycoon would voluntarily pay 7% interest on a principal he can pay down.
Like any businessman (legit or otherwise) he would plough his portions of the profits into repaying the principal and thus week after week get a larger and larger share of the profits.   At 15% gross, 7% interest in 10 weeks he would have the full 500K (all his profit), 0 BTC in debt, and still have the mythical 15% per week of future profits. Win-win-win.

The only reason to not pay down a multi-million dollar debt with the juice running at 3,400% APR is ___________.

(The "investors" simply never filled in the blank)

lol ur name and punctuation.

You are assuming a fixed btc/usd ratio. It's not. What if 7% growth in btc translates into -5% change in usd value of the venture?

Right now I don't side with either of the two opinionated groups, and I haven't invested a satoshi with the pirate .

Valid point. But even if he has only 25K BTC, the interest payments would be pretty astronomical. 1750btc ~ $17,500 a week... lol

I guess Pirate is delaying the pay back to pay back all at once! Probably he has to delay it until he gets ready for buying coins @ extremely low price! I don't think that he is currently trying to buy at lower price, but he is preparing to buy later after paying back!

Stop name calling and think for a second about that return rate. If he had 500k bitcoins, 7% of that is 35K bitcoins ~$350K. Want to explain how he is going to pay that out EVERY WEEK? You're hilariously stupid, or you're just trolling, which is whatever. If you're not trolling, care to justify your position in any way?