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.
It is not that simple. Pirate's default affects all of us, even those who didn't fall for his scam. Should he finally shut down his operation with literally zero hope of a refund, the market will crash rapidly. So after all, we all get to pay for what happened.
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.
Don't you understand? This is exactly the way it is supposed to be. Free market not only gives freedom to individuals; it also liberates the society from weak members. We all have much to learn. We must be responsible, cautious, wise... Some of us already are, others are learning it the hard way. Some will be eliminated by their own stupidity. Only worthy will survive. Of course this pirate event saddens me, because we all suffer from it. But once the market is estabilished, people will be changed. Healthy community will grow and if bitcoin becomes more ..global, whole world will benefit from this change.
