Nothing is wrong with Goat's reputation here. He did exactly what was advertised, in allowing people to profit off of Pirate's ponzi scheme while keeping their assets liquid. This meant you could use these bonds as a gambling device to get pirate-interest, but then sell them before the (inevitable) default announcement.
+1
And man, I didn't expect buyers were that eager in the end.
I got incredibly lucky and sold all my TYGRR-BOND.P after holding it for about 6 weeks. (~40% interest on a small holding). I sold on Aug. 8th after getting a bad feeling.
I was fully aware that it was a ponzi the entire time. (you can check my post history).
My model for Pirate's ponzi predicted a default sometime from Aug-Oct this year.
The thing about ponzi's is that they always default SOONER than even the most bearish expect. This is because by the time everyone has heard of them, there is no money left. If you have heard of a HYIP, chances are you are already in the endgame/sucker stage, simply due to the required growth pattern.
My GLBSE coins are now all in YABMC, BITBOND and PUREMINING, and I recommend these GLBSE assets, because they seem at least somewhat legit. Although I expect a 30-50% chance of getting burned on these investments.
