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Topic: Its Official Pirate Has Defaulted!! - page 10. (Read 63518 times)

hero member
Activity: 532
Merit: 500
FIAT LIBERTAS RVAT CAELVM
August 29, 2012, 04:43:38 PM
+1  - You always need some form of regulation or it becomes the breeding ground for all kinds of schemes and fraud.   

Self-regulation... the only kind that always works.
yep, calling for regulation is like saying "i have no idea what i am doing"
Seeing how obvious this deal was and seing that one can pull off much more subtle tricks i'd say that the bitcoin world is not ready for self-regulation.

The people who got scammed were (and possibly still are) not ready. I (and many others) took one look at "black box, 1% daily" and said, "no, that smells fishy," and stayed out. Some of us even tried to warn the others. caveat investor.
newbie
Activity: 33
Merit: 0
August 29, 2012, 04:41:51 PM
Think Pirate is a scam and won't repay his debts?

I have another $500 I am willing to offer in this wager.

Given that the going market rate for pirate debt is 12%  https://bitcointalk.org/index.php?topic=104052.0 I will only be accepting offers of 1:4 odds or better for the next bet slot.  Thus I would be willing to wager this next $500 against $2,000 or better.   Contact me with an offer if interested.  I will take the best offer that I receive.

All bets will be escrowed here through Garr 255 https://bitcointalksearch.org/topic/bet-escrow-104494  He has kindly offered to escrow my bets.

Bet terms are indexed in Garr's thread.
legendary
Activity: 2352
Merit: 1064
Bitcoin is antisemitic
August 29, 2012, 04:39:38 PM
The appropriate term would be: man up.

...or never "invest" in a ponzi or anywhere more than you can afford to lose, like in the meatspace. Quite easy.
legendary
Activity: 1316
Merit: 1005
August 29, 2012, 04:34:51 PM
Seing how obvious this deal was and seing that one can pull off much more subtle tricks i'd say that the bitcoin world is not ready for self-regulation.

It's called growing pains, and the community will be the better for it just like exchange security improved after a bout of drama. Running away from hard knocks is no answer; they must be faced and learned from to make progress. The appropriate term would be: man up.
hero member
Activity: 840
Merit: 1000
August 29, 2012, 04:28:25 PM
+1  - You always need some form of regulation or it becomes the breeding ground for all kinds of schemes and fraud.   

Self-regulation... the only kind that always works.
yep, calling for regulation is like saying "i have no idea what i am doing"

Seing how obvious this deal was and seing that one can pull off much more subtle tricks i'd say that the bitcoin world is not ready for self-regulation.
hero member
Activity: 532
Merit: 500
FIAT LIBERTAS RVAT CAELVM
August 29, 2012, 04:14:39 PM

And Bernie Madoff's first investors made a tidy profit, too. It was only that last round that really lost out. Perhaps the first quote should be modified to say "who gambled on this scheme and lost get to eat their own losses"

Didn't clawback pretty much nullify any gains from early investors?

Another benefit of Bitcoin. Wink
sr. member
Activity: 252
Merit: 250
August 29, 2012, 03:58:52 PM

And Bernie Madoff's first investors made a tidy profit, too. It was only that last round that really lost out. Perhaps the first quote should be modified to say "who gambled on this scheme and lost get to eat their own losses"

Didn't clawback pretty much nullify any gains from early investors?
hero member
Activity: 532
Merit: 500
FIAT LIBERTAS RVAT CAELVM
August 29, 2012, 03:39:22 PM

It is wonderful. All the idiots who gambled on this scheme get to eat their own losses intead of claiming "exigent circumstances" and "systemic risk" and forcing their losses on to me at gunpoint. I get to fully enjoy the benefit of choosing to not participate in a Ponzi scheme.
+1

+ Another

What losses? I entered several months ago in PPT.x's and Bitcoinmax, almost ever took interests home (and even capital with PPT-X), and now I have less of all interests gained up to now locked in Bitcoinmax. And that just because I was too lazy to withdraw my investment several weeks before the default, when all the alarm bells were ringing aloud everywhere and even I figured that it would be a good idea to withdraw like many others did in time, but I did not follow up. No losses anyway for whom entered the ponzi at the right time without exposing themselves too much and too late.

And Bernie Madoff's first investors made a tidy profit, too. It was only that last round that really lost out. Perhaps the first quote should be modified to say "who gambled on this scheme and lost get to eat their own losses"
legendary
Activity: 2352
Merit: 1064
Bitcoin is antisemitic
August 29, 2012, 03:32:25 PM

It is wonderful. All the idiots who gambled on this scheme get to eat their own losses intead of claiming "exigent circumstances" and "systemic risk" and forcing their losses on to me at gunpoint. I get to fully enjoy the benefit of choosing to not participate in a Ponzi scheme.
+1

+ Another

What losses? I entered several months ago in PPT.x's and Bitcoinmax, almost ever took interests home (and even capital with PPT-X), and now I have less of all interests gained up to now locked in Bitcoinmax. And that just because I was too lazy to withdraw my investment several weeks before the default, when all the alarm bells were ringing aloud everywhere and even I figured that it would be a good idea to withdraw like many others did in time, but I did not follow up. No losses anyway for whom entered the ponzi at the right time without exposing themselves too much and too late.
hero member
Activity: 490
Merit: 500
August 29, 2012, 03:23:10 PM
I SHOULD have said it 'out loud' to help myself realize how retarded it actually sounded.
You've discovered a technique for reducing decision-making errors so advanced that a lot of people with postgraduate degrees don't use it yet.

Apparently getting scammed online is like paying for college, except that it's cheaper and more educational.

Wise words.

legendary
Activity: 1400
Merit: 1013
August 29, 2012, 03:11:12 PM
I SHOULD have said it 'out loud' to help myself realize how retarded it actually sounded.
You've discovered a technique for reducing decision-making errors so advanced that a lot of people with postgraduate degrees don't use it yet.

Apparently getting scammed online is like paying for college, except that it's cheaper and more educational.
sr. member
Activity: 462
Merit: 250
I heart thebaron
August 29, 2012, 03:01:35 PM
@Bitlane - Are you referring to "hard money" loans?

At first, I thought he may have been selling large amounts of BTC @ a Premium ....OTC, as not to move the market.....and once the HARD CURRENCY was out of Bitcoin, he then used THAT to offer high interest loans etc......then buying back 'in' with his so-called 'profits'.

It made sense to me in my head, back when I was concerned about getting scammed.
I SHOULD have said it 'out loud' to help myself realize how retarded it actually sounded.
legendary
Activity: 1330
Merit: 1026
Mining since 2010 & Hosting since 2012
August 29, 2012, 02:58:32 PM
Goat, I apologize for being a douche to you..... I only NOW realize that you are getting fucked just like everyone else, or perhaps worse from the requests of Trendon.

Thanks, it really does suck getting fucked up the ass from someone you trusted...

..and assholes such as myself don't add to the 'discomfort' I am sure.

I HONESTLY thought his game was Realestate/Loans etc in the REAL world and I fell for it hook, line and sinker.


@Bitlane - Are you referring to "hard money" loans?
hero member
Activity: 532
Merit: 500
FIAT LIBERTAS RVAT CAELVM
August 29, 2012, 02:52:54 PM
+1  - You always need some form of regulation or it becomes the breeding ground for all kinds of schemes and fraud.   

Self-regulation... the only kind that always works.
member
Activity: 85
Merit: 10
August 29, 2012, 02:51:21 PM
pirate is demanding details of the account holders because he wont be able to pay all of it but partially, maybe sans interest or %70 I have no idea, abut he definitely doesn't want pass through operators to cherry pick account holders and pay them fully, then he will be responsible for unpaid pass through accounts, pony up the lists and help the man Smiley

it seems like he will pay but not fully, If you cant pass a list to him, it means two things , you are incredibly sloppy or you had your own small ponzi in your pass through and you don't want it to be revealed Smiley

I am not defending the man I have no interest etc in btcst it was unreal from day1, we are already doing a crazy thing by mining money out of f.ing thin air, %7 pw interest on that was a bit too much Smiley

 

member
Activity: 106
Merit: 10
August 29, 2012, 02:50:43 PM

It's very interesting to what how all the so-called libertarians here usually shout the loudest about why bitcoin is so beautiful. It is not controlled by the big banks, by governments, it is total freedom, independent, etc etc.
But as soon as they get scammed due their own incredible stupidity, suddenly they talk about "official defaults", regulations to defaults, legal actions, etc. Face it. You joined a ponzi and lost a lot of money and there is NO regulation, law or government going to help you out. And that is how YOU wanted it YOURSELF, after all, that is what bitcoin is all about, right?

This whole debate about default, no default, and regulations is hypocrisy at its best. You gave your digital money to a digital guy and he digitally ran away with it. What the fuck else did you expect?



+1  - You always need some form of regulation or it becomes the breeding ground for all kinds of schemes and fraud.   

 
You can regulate without taxes. Wink

legendary
Activity: 1330
Merit: 1026
Mining since 2010 & Hosting since 2012
August 29, 2012, 02:43:17 PM
It's very interesting to what how all the so-called libertarians here usually shout the loudest about why bitcoin is so beautiful. It is not controlled by the big banks, by governments, it is total freedom, independent, etc etc.
But as soon as they get scammed due their own incredible stupidity, suddenly they talk about "official defaults", regulations to defaults, legal actions, etc. Face it. You joined a ponzi and lost a lot of money and there is NO regulation, law or government going to help you out. And that is how YOU wanted it YOURSELF, after all, that is what bitcoin is all about, right?

This whole debate about default, no default, and regulations is hypocrisy at its best. You gave your digital money to a digital guy and he digitally ran away with it. What the fuck else did you expect?



+1  - You always need some form of regulation or it becomes the breeding ground for all kinds of schemes and fraud.   
full member
Activity: 150
Merit: 100
Thank you! Thank you! ...
August 29, 2012, 02:35:02 PM
We already got Bitcourt & Bitpolice.
Soon we need Bitgovernment to help Bitcoin

I will gladly be the dictator of bitcoin for a small fee. Which I can reinvest for you so when you
retire I will pay out to you on a monthly basis. I will call it...

Social Security... the other other ponzi scheme.  Cheesy
legendary
Activity: 2072
Merit: 1001
August 29, 2012, 02:17:55 PM
We already got Bitcourt & Bitpolice.
Soon we need Bitgovernment to help Bitcoin

I will gladly be the dictator of bitcoin for a small fee. Which I can reinvest for you so when you
retire I will pay out to you on a monthly basis. I will call it...
legendary
Activity: 1855
Merit: 1016
August 29, 2012, 02:15:38 PM
We already got Bitcourt & Bitpolice.
Soon we need Bitgovernment to help Bitcoin
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