That is an interesting thought. If it was so obvious that Pirate was a ponzi, why did Theymos want in? and so late in the game besides?
Theymos ONLY wanted into an insured portion of the fund.
People should not get the wrong idea and rather do their due diligence or ask him directly.
Insured or not, willing participating in a 'known' ponzi is certainly immoral and most likely illegal. If nothing else, his request for the insured PPT is what blew up the PPT market. Before then, there were very few, I think 1 actually.
Oh it's a 'known' ponzi now? That's a refreshing change from your usual posts.
By all means though, continue to deflect the heat onto your customers if you don't like the questions being asked.
