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Topic: Hey Pirate, it's Monday....WHERE ARE MY BITCOINS ? (Read 33164 times)

hero member
Activity: 994
Merit: 1000
I think the bottleneck in this process is the market prices, no? 

DING DING DING!!!!
Someone finally gets it..
The panic didnt go as well as planned..   

It's also possible he's expecting the price to go back up before he can dump again and buy cheaper. It's obvious he doesn't have enough coins to pay everyone back right now, and I'll bet he caught a ton of coins @ $8, but it wasn't enough.
hero member
Activity: 812
Merit: 1001
-
Bitlane, if he defaults and you are looking to find him, my first suggestion would be to investigate Somalia, lots of work for a pirate there.

Somalian Pirates We~!

http://www.youtube.com/watch?v=C1_NpLKnWLU

back at ya
http://www.youtube.com/watch?v=249RL82kjP4

this too

http://www.youtube.com/watch?v=aTMRJUH1FdA
legendary
Activity: 2324
Merit: 1125
Bitlane, if he defaults and you are looking to find him, my first suggestion would be to investigate Somalia, lots of work for a pirate there.

Somalian Pirates We~!

http://www.youtube.com/watch?v=C1_NpLKnWLU
hero member
Activity: 952
Merit: 1009
First, your scenario can't avoid a technical default, since he already *has* technically defaulted.
Agreed. Pirate actually defaulted on Monday.

But in the terms of his bet with Vandroiy he has two weeks grace. And in the terms of Matthew's bet he has three weeks grace.


I can't wait to see how the "terms" of those bets will morph.

i smell big trouble...


Now imagine Atlas would have been the one making Matt's bet. (cue changing of the bet terms every 30 seconds)

hero member
Activity: 770
Merit: 500
You're fat, because you dont have any pics on FB
The panic didnt go as well as planned..  

Looking at chart, most of volume was in 13-10$ range during the dump. It is reasonable to assume that if our miracle worker indeed has dumped lots of BTC at "high prices" his average would be at best about 12$




Ok.. continue your train of thought please..


If he's legit, he has to buy back..

So.. at an average of 12 say..  he would need it to sink a bit further to truly gain any ground when rebuying.. depending on liquidity..


What are your thoughts?
hero member
Activity: 812
Merit: 1001
-
The panic didnt go as well as planned..  

Looking at chart, most of volume was in 13-10$ range during the dump. It is reasonable to assume that if our miracle worker indeed has dumped lots of BTC at "high prices" his average would be at best about 12$


hero member
Activity: 695
Merit: 500
From his original announcement:

Quote
So now what?
I’ve spoken with my clients over the last week and come to an agreement that would allow me to close down my operation within a week.  Currently my reserve (operating wallets) are drained from fulfilling the withdraw spree that happened after the rate drop announcement.  All withdraws at this point will be delayed until Monday when the shutdown process begins..  

At this point I will no longer accept deposits.  Any coins sent into the system as of now will be returned immediately.

When will I get my coins?
Starting Monday I’ll begin systematically closing and withdrawing accounts as coins are transferred.  I don't expect the entire process to last longer than a week. The moment your account is closed you’ll receive your coins plus any interest accrued up to the hour it was sent.

That sounds quite different. The Monday in his announcements has already passed. His announcement says in a somewhat cloudy way that withdraws would begin on Monday (day before yesterday) and would be spread out over this week. So, according to his words, the last payment could be delayed until the coming Sunday.

This should indicate that something is wrong, as there has been no payment whatsoever, just as predicted by several people here, including myself. Of course some will still hope that he suddenly begins to pay, and some will keep hoping that until Sunday and even later.

My personal stance is that I never believed anything the pirate said, but he will still be measured by his words.
legendary
Activity: 2590
Merit: 2156
Welcome to the SaltySpitoon, how Tough are ya?
Bitlane, if he defaults and you are looking to find him, my first suggestion would be to investigate Somalia, lots of work for a pirate there.
hero member
Activity: 770
Merit: 500
You're fat, because you dont have any pics on FB
I think the bottleneck in this process is the market prices, no? 



DING DING DING!!!!



Someone finally gets it..



The panic didnt go as well as planned..   
newbie
Activity: 28
Merit: 0
I think the bottleneck in this process is the market prices, no? 

*facepalm.jpg*

The bottleneck is that pirate is keeping all the coins.
hero member
Activity: 896
Merit: 1000
Seal Cub Clubbing Club
I think the bottleneck in this process is the market prices, no? 
hero member
Activity: 840
Merit: 1000
How about not playing the fool, and waiting for the payouts? He said a week or 2, it's been 2-3 days.

Where did he say that? What exactly did he say?

Still talking smack but too cowardly to put your money where your mouth is I see.   Come on big man, there's a free 250BTC waiting for you over in Matthew's thread.  How can you possibly lose, right?

Until you actually show a little backbone, shut up with your nonsense.

Would you still want me to bet?

And why did you not answer the question: Where did he say "a week or 2"? And what exactly did he say?

Don't overlook that that was my question to which you answered, but which you did not actually answer.
From his original announcement:

Quote
So now what?
I’ve spoken with my clients over the last week and come to an agreement that would allow me to close down my operation within a week.  Currently my reserve (operating wallets) are drained from fulfilling the withdraw spree that happened after the rate drop announcement.  All withdraws at this point will be delayed until Monday when the shutdown process begins..  

At this point I will no longer accept deposits.  Any coins sent into the system as of now will be returned immediately.

When will I get my coins?
Starting Monday I’ll begin systematically closing and withdrawing accounts as coins are transferred.  I don't expect the entire process to last longer than a week. The moment your account is closed you’ll receive your coins plus any interest accrued up to the hour it was sent.

I think he said 1-2weeks on IRC on monday as well.
hero member
Activity: 695
Merit: 500
How about not playing the fool, and waiting for the payouts? He said a week or 2, it's been 2-3 days.

Where did he say that? What exactly did he say?

Still talking smack but too cowardly to put your money where your mouth is I see.   Come on big man, there's a free 250BTC waiting for you over in Matthew's thread.  How can you possibly lose, right?

Until you actually show a little backbone, shut up with your nonsense.

Would you still want me to bet?

And why did you not answer the question: Where did he say "a week or 2"? And what exactly did he say?

Don't overlook that that was my question to which you answered, but which you did not actually answer.
hero member
Activity: 695
Merit: 500
that was ironic, sorry I forgot the tags!

Hehe, no problem.
legendary
Activity: 2856
Merit: 1520
Bitcoin Legal Tender Countries: 2 of 206
Vandroiy's bet terms have been published. They cannot be altered.

but what we need is a hedge for his bet! will do you do or should i do this?  Grin

You mean invest BTC5,000 in the BullShit Trust and wait until they double? Go ahead.

that was ironic, sorry I forgot the tags!
hero member
Activity: 695
Merit: 500
Vandroiy's bet terms have been published. They cannot be altered.

but what we need is a hedge for his bet! will do you do or should i do this?  Grin

You mean invest BTC5,000 in the BullShit Trust and wait until they double? Go ahead.
full member
Activity: 132
Merit: 100
And this week or next there is a mad rush of new investors from the media releases, enter the running of the bulls bitcoin style, there will be blood.
legendary
Activity: 2856
Merit: 1520
Bitcoin Legal Tender Countries: 2 of 206
First, your scenario can't avoid a technical default, since he already *has* technically defaulted.
Agreed. Pirate actually defaulted on Monday.

But in the terms of his bet with Vandroiy he has two weeks grace. And in the terms of Matthew's bet he has three weeks grace.

I can't wait to see how the "terms" of those bets will morph.

Vandroiy's bet terms have been published. They cannot be altered.

but what we need is a hedge for his bet! will do you do or should i do this?  Grin
vip
Activity: 574
Merit: 500
Don't send me a pm unless you gpg encrypt it.
Also, pirates are not generally known for running legitimate businesses.

If we were to be judged based only on our forum nicks, you'd already be at an extreme disadvantage.

AT THE SAME TIME not judging by name at all puts you in a similar kind of disadvantage.


Have you heard of Jimmy Buffet?
hero member
Activity: 695
Merit: 500
First, your scenario can't avoid a technical default, since he already *has* technically defaulted.
Agreed. Pirate actually defaulted on Monday.

But in the terms of his bet with Vandroiy he has two weeks grace. And in the terms of Matthew's bet he has three weeks grace.

I can't wait to see how the "terms" of those bets will morph.

Vandroiy's bet terms have been published. They cannot be altered.
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