Goat, you are wiggling too much. Simply answer these simple question honestly if you capable of that.
- have you managed a proxy for an opaque investment that has exhibited all the classical signs of a ponzi scheme?
- have you profited or expected to profit from prolongation and proliferation of a ponzi scheme?
- have you owed a duty of care and fiduciary duty to anyone who gave you money?
- have you provided adequate risk disclosures?
- have you implied at any time that pirate is not operating a ponzi scheme?
- have you implied at any time that you know some magical/secret biz model behind pirate operation?
- have you implied at any time that you know true identity of pirate?
- have you promoted investment into and lent credibity (or false credibility) to a ponzi scheme in any way?
- have you tried to silence, spam, mock, attack those who publicly warned about the risks of investing into such schemes?
- ought you to know better?
- what is you your real name and address for service of legal papers?
These are simple questions. Answer them if you dare.
Topic: Pirate accomplices - page 7. (Read 30323 times)
The point was to show I do not think pirate was running and ponzi and I never have. Theymos however clearly does think that it always was a ponzi.
Sorry, but that is not what is implied by your question.
Where can you show that Theymos or myself said we did not think it was a ponzi?
I'll even give you the benefit of the doubt that you did not express yourself properly as anyone who has read your posts can tell that your "wright"ing is not the best.
But then there is this awkward little bit from the same thread:
Vladimir,
when did i ever:
- imply that pirate is not operating a ponzi scheme
I'm waiting for p4man to do the same for me... Slandering fools they are...when did i ever:
- imply that pirate is not operating a ponzi scheme
Yet I am an "accomplice" and Theymos is not...
Stop hiding behind Theymos. Theymos never claimed that he understood the business model and it is definitely not a ponzi. Quite the opposite. Theymos did not attack anyone on the forums who dared warn others that it might be a ponzi. You on the other hand have a well established track record. Have you read the whole thread?
I have indeed. Have you read any of it?Not necessarily. Imagine that the BTC price crash tomorrow morning and goes to 2$. What do you do if you took your own USD and bought your own BTC with it? You lose around 80% of your business value.
By borrowing BTC, he don't stay exposed for long to market volatility. If the BTC crash tomorrow, he don't care, since the BTC are not his (didn't invest to buy them), he only have USD that stay a lot more stable. It's a protection against volatility.
That's only the case if the BTC price crashes. If it skyrockets whilst his funds are in USD instead, he's not just out part of his business value, there is no upper limit on his potential liability to his lenders. That's... probably something he would want to avoid.By borrowing BTC, he don't stay exposed for long to market volatility. If the BTC crash tomorrow, he don't care, since the BTC are not his (didn't invest to buy them), he only have USD that stay a lot more stable. It's a protection against volatility.
About growth, pirate always reserved himself the right to return coins if he didn't need them, and it occurred at certain occasions. At first too, he had limited capacity, and always advertised how much was available. There was no infinite growth, far from it, he kept the growth under tight control.
Well, ponzi schemes tend to do that in their early stages. I'm sure everyone here has seen that webpage about Currin Trading by now? If he were to allow big investments early on, one big fish withdrawing would be enough to sink the scheme. It's not until later stages when the ponzi's demand for new money becomes voracious. You beat me to it. At times pirate needed money fast and paid 3% a day!!! Then other times he not only would not take new funds but sent them back to people!!
Suppose you're a ponzi operator and it's far too early to scuttle the scheme yet, but people have asked for withdrawals you can't afford to pay right now. What do you do? (See also page 8 of this document, from a proven Ponzi called Perma-Pave.) 
...mmm...Brunic, do you actually know what pirate was doing to legitimately earn 7%/week, or do you just have a theory?
It's the "unofficial" theory I could say. I can't say I know, since I'm only a small part of his business, I can only suppose.
But this theory is a great business model IMHO. If I had the resources and the customers, don't worry, I would not be losing my time on this forum trying to explain it.
Where can you show that Theymos or myself said we did not think it was a ponzi?
and then less than 12 hours later in the same thread.
I still do not think he is running a ponzi.
Epic fail.
Didn't pirate say he's made 30k BTC or $300.000 USD in profits from his scam? I'm sure the IRS would love to know about this.
If it were a scam, he'd have made $5 milllion off of it, and seems the FBI would be more interested than the IRS.
If it was a ponzi he would have a whole lot less than that. Where else would the 7% a week come from.
You know if you add that up that would be more than $5 million paid out so if he ran a ponzi I bet he is down a few million.
He can wright that off as a business loss correct?
Except I'd.guess most reinvested the interest, and didn't actually realize all those paper gains.
sure, only compound interest make you rich , and the most of us want to become rich by bitcoins...
Except I'd.guess most reinvested the interest, and didn't actually realize all those paper gains.
We also don't know how much of his debt he himself holds. So some portion of his interest payments may have just been to himself. 
Didn't pirate say he's made 30k BTC or $300.000 USD in profits from his scam? I'm sure the IRS would love to know about this.
If it were a scam, he'd have made $5 milllion off of it, and seems the FBI would be more interested than the IRS.
If it was a ponzi he would have a whole lot less than that. Where else would the 7% a week come from.
You know if you add that up that would be more than $5 million paid out so if he ran a ponzi I bet he is down a few million.
He can wright that off as a business loss correct?
Except I'd.guess most reinvested the interest, and didn't actually realize all those paper gains.
BTCST was a short-term business that had to end, but GPUMax is the real deal. It's a miner wet dream.
What's so great about GPUMax exactly? Other than inspiring your wet dreams..
How many BTC did he actually pay back out? Is there some public full accounting of transactions I'm missing?
Didn't pirate say he's made 30k BTC or $300.000 USD in profits from his scam? I'm sure the IRS would love to know about this.
If it were a scam, he'd have made $5 milllion off of it, and seems the FBI would be more interested than the IRS.
Knowing how the government works there is probably a snitch line to ring and report people.
Didn't pirate say he's made 30k BTC or $300.000 USD in profits from his scam? I'm sure the IRS would love to know about this.
If it were a scam, he'd have made $5 milllion off of it, and seems the FBI would be more interested than the IRS.
The theory involving pirates business model depends on there being enough people who wish to bypass rules and regulations on moving cash around. I dont consider wanting financial privacy as money laundering even though the government might. I would say that if hes involved in doing that theres is probably only so long you can before it gets noticed.
True, tax avoidance also makes sense as a non-ponzi explanation for pirate's ability to continue paying 7%/wk. If that's the case, pirate must be very persuasive with well heeled folk in meatspace. IMO, it's unlikely.
But whether his customer base was composed of people looking to clean money or avoid taxes ultimately doesn't matter. Both are illegal. But at least if it's one of the two, depositors might have a chance of getting their principal back.
Honestly, I hope one of the above is the case. Bitcoin doesn't need another black eye right now.
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...mmm...Brunic, do you actually know what pirate was doing to legitimately earn 7%/week, or do you just have a theory?
It's the "unofficial" theory I could say. I can't say I know, since I'm only a small part of his business, I can only suppose.
But this theory is a great business model IMHO. If I had the resources and the customers, don't worry, I would not be losing my time on this forum trying to explain it.
So just a theory, then. Thanks for responding.
Definitely not trolling - although I do admit I often come off as a troll. I guess I should work on that.
The theory involving pirates business model depends on there being enough people who wish to bypass rules and regulations on moving cash around. I dont consider wanting financial privacy as money laundering even though the government might. I would say that if hes involved in doing that theres is probably only so long you can before it gets noticed.
Didn't pirate say he's made 30k BTC or $300.000 USD in profits from his scam? I'm sure the IRS would love to know about this.
Fuck the IRS.
Enemies can be friends in times like this.
Indeed. In Korea, irregardless of shady business practices, local codes, or various unlawful activities, no one will touch you if you're paying your taxes.
Didn't pirate say he's made 30k BTC or $300.000 USD in profits from his scam? I'm sure the IRS would love to know about this.
If it were a scam, he'd have made $5 milllion off of it, and seems the FBI would be more interested than the IRS.
It is a scam. Get ready to pay out.
...mmm...Brunic, do you actually know what pirate was doing to legitimately earn 7%/week, or do you just have a theory?
It's the "unofficial" theory I could say. I can't say I know, since I'm only a small part of his business, I can only suppose.
But this theory is a great business model IMHO. If I had the resources and the customers, don't worry, I would not be losing my time on this forum trying to explain it.
So just a theory, then. Thanks for responding.
Definitely not trolling - although I do admit I often come off as a troll. I guess I should work on that.
The theory involving pirates business model depends on there being enough people who wish to bypass rules and regulations on moving cash around. I dont consider wanting financial privacy as money laundering even though the government might. I would say that if hes involved in doing that theres is probably only so long you can before it gets noticed.
Didn't pirate say he's made 30k BTC or $300.000 USD in profits from his scam? I'm sure the IRS would love to know about this.
Fuck the IRS.
Enemies can be friends in times like this.
...mmm...Brunic, do you actually know what pirate was doing to legitimately earn 7%/week, or do you just have a theory?
It's the "unofficial" theory I could say. I can't say I know, since I'm only a small part of his business, I can only suppose.
But this theory is a great business model IMHO. If I had the resources and the customers, don't worry, I would not be losing my time on this forum trying to explain it.
So just a theory, then. Thanks for responding.
Definitely not trolling - although I do admit I often come off as a troll. I guess I should work on that.
The theory involving pirates business model depends on there being enough people who wish to bypass rules and regulations on moving cash around. I dont consider wanting financial privacy as money laundering even though the government might. I would say that if hes involved in doing that theres is probably only so long you can before it gets noticed.
Didn't pirate say he's made 30k BTC or $300.000 USD in profits from his scam? I'm sure the IRS would love to know about this.
Fuck the IRS.
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Activity: 588
Merit: 500
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Didn't pirate say he's made 30k BTC or $300.000 USD in profits from his scam? I'm sure the IRS would love to know about this.
If it were a scam, he'd have made $5 milllion off of it, and seems the FBI would be more interested than the IRS.
...mmm...Brunic, do you actually know what pirate was doing to legitimately earn 7%/week, or do you just have a theory?
It's the "unofficial" theory I could say. I can't say I know, since I'm only a small part of his business, I can only suppose.
But this theory is a great business model IMHO. If I had the resources and the customers, don't worry, I would not be losing my time on this forum trying to explain it.
So just a theory, then. Thanks for responding.
Definitely not trolling - although I do admit I often come off as a troll. I guess I should work on that.
The theory involving pirates business model depends on there being enough people who wish to bypass rules and regulations on moving cash around. I dont consider wanting financial privacy as money laundering even though the government might. I would say that if hes involved in doing that theres is probably only so long you can before it gets noticed.
Didn't pirate say he's made 30k BTC or $300.000 USD in profits from his scam? I'm sure the IRS would love to know about this.
...mmm...Brunic, do you actually know what pirate was doing to legitimately earn 7%/week, or do you just have a theory?
It's the "unofficial" theory I could say. I can't say I know, since I'm only a small part of his business, I can only suppose.
But this theory is a great business model IMHO. If I had the resources and the customers, don't worry, I would not be losing my time on this forum trying to explain it.
So just a theory, then. Thanks for responding.
Definitely not trolling - although I do admit I often come off as a troll. I guess I should work on that.
The theory involving pirates business model depends on there being enough people who wish to bypass rules and regulations on moving cash around. I dont consider wanting financial privacy as money laundering even though the government might. I would say that if hes involved in doing that theres is probably only so long you can before it gets noticed.
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