Pirate paying back investors within a week OR two? - page 2.

smoothie

legendary

Activity: 2492

Merit: 1491

LEALANA Bitcoin Grim Reaper

Quote from: JoelKatz on August 20, 2012, 04:08:04 PM

You know I said that I hope I'm wrong and that Pirate isn't a Ponzi and can, by some miracle, pay everyone back. Well, I take that back. I now really hope that Pirate is a Ponzi scheme and defaults on a significant fraction of existing obligations.

No, it's not because I love a good, "I told you so!". I do, of course. Who doesn't? But that's not the reason.

The reason is that if Pirate somehow pays everyone back, a dozen new Ponzi schemes will pop up. And whenever sane, rational people point out that has every single conceivable sign of a Ponzi scheme and only an idiot would invest, someone will point out that that's what people said about Pirate.

The only way I can see to get Bitcoin away from being a haven for HYIP scams is for there to be a very public, very painful collapse. So I now officially hope everyone with Pirate exposure gets screwed as hard as possible -- for the good of Bitcoin.

this ^+1

Gyrsur

legendary

Activity: 2856

Merit: 1520

Bitcoin Legal Tender Countries: 2 of 206

Quote from: JoelKatz on August 20, 2012, 04:08:04 PM

The only way I can see to get Bitcoin away from being a haven for HYIP scams is for there to be a very public, very painful collapse. So I now officially hope everyone with Pirate exposure gets screwed as hard as possible -- for the good of Bitcoin.

+100

JoelKatz

legendary

Activity: 1596

Merit: 1012

Democracy is vulnerable to a 51% attack.

You know I said that I hope I'm wrong and that Pirate isn't a Ponzi and can, by some miracle, pay everyone back. Well, I take that back. I now really hope that Pirate is a Ponzi scheme and defaults on a significant fraction of existing obligations.

No, it's not because I love a good, "I told you so!". I do, of course. Who doesn't? But that's not the reason.

The reason is that if Pirate somehow pays everyone back, a dozen new Ponzi schemes will pop up. And whenever sane, rational people point out that has every single conceivable sign of a Ponzi scheme and only an idiot would invest, someone will point out that that's what people said about Pirate.

The only way I can see to get Bitcoin away from being a haven for HYIP scams is for there to be a very public, very painful collapse. So I now officially hope everyone with Pirate exposure gets screwed as hard as possible -- for the good of Bitcoin.

notme

legendary

Activity: 1904

Merit: 1002

Quote from: smoothie on August 20, 2012, 03:13:21 PM

Quote from: notme on August 20, 2012, 02:54:15 PM

Quote from: teflone on August 20, 2012, 12:09:18 PM

Omg..

Maged.. who are you refering to as "Team Ponzi" ? that made me laugh...

Are you refering to the Dinner table photo ? with goat with the finger ? Cheesy

lol

I think team ponzi is all the "Ponzi!" screamers.

PONZI!

Yes, like that.

smoothie

legendary

Activity: 2492

Merit: 1491

LEALANA Bitcoin Grim Reaper

Quote from: notme on August 20, 2012, 02:54:15 PM

Quote from: teflone on August 20, 2012, 12:09:18 PM

Omg..

Maged.. who are you refering to as "Team Ponzi" ? that made me laugh...

Are you refering to the Dinner table photo ? with goat with the finger ? Cheesy

lol

I think team ponzi is all the "Ponzi!" screamers.

PONZI!

notme

legendary

Activity: 1904

Merit: 1002

Quote from: teflone on August 20, 2012, 12:09:18 PM

Omg..

Maged.. who are you refering to as "Team Ponzi" ? that made me laugh...

Are you refering to the Dinner table photo ? with goat with the finger ? Cheesy

lol

I think team ponzi is all the "Ponzi!" screamers.

teflone

hero member

Activity: 770

Merit: 500

You're fat, because you dont have any pics on FB

Omg..

Maged.. who are you refering to as "Team Ponzi" ? that made me laugh...

Are you refering to the Dinner table photo ? with goat with the finger ? Cheesy

lol

JoelKatz

legendary

Activity: 1596

Merit: 1012

Democracy is vulnerable to a 51% attack.

Quote from: alexanderanon on August 20, 2012, 02:26:22 AM

Pirate is going to be crucified by his investors if he doesn't pay back, just by the sheer quantity of coins stolen, and the quantity of people who know exactly who he is IRL.

Does anyone you know IRL know who he is IRL?

alexanderanon

full member

Activity: 210

Merit: 100

Pirate is going to be crucified by his investors if he doesn't pay back, just by the sheer quantity of coins stolen, and the quantity of people who know exactly who he is IRL.

candoo

hero member

Activity: 602

Merit: 500

Vertrau in Gott

Think he is getting out all bitcoins till friday 24.

unclescrooge

hero member

Activity: 868

Merit: 1000

Quote from: JoelKatz on August 18, 2012, 05:00:44 PM

So what's happening with Pirate pass throughs? For those who think Pirate will pay everyone back, they should be worth close to face value. For those who think Pirate is a Ponzi, they are worthless. So what does the market think?

Market discounts 20% off passthrough, but it did went to less than 30% of face-value.

Fuck, could have made a killing if I wasn't away from the computer at that time :/

tvbcof

legendary

Activity: 4760

Merit: 1283

Quote from: smoothie on August 18, 2012, 08:39:38 PM

My estimates are then in OP is quite reasonable because I used 500k figure and pirate says its over 500k Roll Eyes

A slight issue is that if Pirate is a scammer and is running a scam, he almost certainly would not be above fudging a bit.

In fact a lot of the types of people who would be prone to being scammed in this way would likely have considerable awe in someone wielding the power of {a large number} of coins and it would tend to install CONfidence in them. They also might feel a strong sense of loyalty since Pirate was using his vast accumulation of power to the collective benefit of the group.

But...if he is fudging his numbers high (and has a fewer number to buy back thus weakening the OP's point) then he is a scammer and there would be very little reason to give anything back at the end of the Ponzi.

smoothie

legendary

Activity: 2492

Merit: 1491

LEALANA Bitcoin Grim Reaper

My estimates are then in OP is quite reasonable because I used 500k figure and pirate says its over 500k Roll Eyes

smoothie

legendary

Activity: 2492

Merit: 1491

LEALANA Bitcoin Grim Reaper

Quote from: Maged on August 18, 2012, 08:08:04 PM

Quote from: notme on August 18, 2012, 05:29:30 PM

Quote from: smoothie on August 18, 2012, 05:07:18 PM

Fact #1 - Pirate had at least 500k btc of investors' funds

I haven't seen proof for fact 1. It might be true, but your figure seems a bit high to me. Can you point me to some evidence for this claim since it is the lynchpin of your thesis?

Bitcoin-otc:
[2012-08-17 16:17:57] Azelphur, personally. BST is over 500k BTC
Pirate was identified with both Nickserv and gribble.

Even Team Ponzi just thought that it was around 450k, but you cannot dispute Pirate's own words.

Thanks maged. I didn't have a copy of that but I knew I read it.

Maged

legendary

Activity: 1204

Merit: 1015

Quote from: notme on August 18, 2012, 05:29:30 PM

Quote from: smoothie on August 18, 2012, 05:07:18 PM

Fact #1 - Pirate had at least 500k btc of investors' funds

I haven't seen proof for fact 1. It might be true, but your figure seems a bit high to me. Can you point me to some evidence for this claim since it is the lynchpin of your thesis?

Bitcoin-otc:
[2012-08-17 16:17:57] Azelphur, personally. BST is over 500k BTC
Pirate was identified with both Nickserv and gribble.

Even Team Ponzi just thought that it was around 450k, but you cannot dispute Pirate's own words.

smoothie

legendary

Activity: 2492

Merit: 1491

LEALANA Bitcoin Grim Reaper

Quote from: robocoin on August 18, 2012, 05:14:21 PM

Quote from: smoothie on August 18, 2012, 04:51:15 PM

Quote from: notme on August 18, 2012, 04:49:03 PM

Quote from: smoothie on August 18, 2012, 04:45:46 PM

Quote from: notme on August 18, 2012, 04:42:22 PM

Why yet another thread with accusations based on assumptions. Don't we have enough already. Can't you just wait a week, or do you have nothing better to do?

Why are you crying still? Roll Eyes

Stop reading the forum for a week then.

Don't like what truth's I have to say?

Yes my thoughts on him not having all the bitcoins is still speculation, but all of the FACTS (interest paid, referral req. lifted, etc.) point to the conclusion that people will not get their money back in the short period pirate has claimed.

I might have to leave for a while... pirate's already the topic of every fucking thread, yet you insist on making more.

This is my question to you and many others:

What's so fucking irritating about me making another thread on this forum? Seems like people only complain about threads that point people in the direction of them possibly losing their money due to a scam. You are one of them complaining. It's a fucking thread for crying out loud. If you see a title with pirate in it don't read it or if you do don't cry. Just like if you lost money with pirate, don't cry.

Absolutly ok. I enjoy your quality trolling. Posts: 2562 and counting, omg.

Wow new account created on August 18th....good job creating new accounts lol

notme

legendary

Activity: 1904

Merit: 1002

Quote from: smoothie on August 18, 2012, 05:07:18 PM

Quote from: odolvlobo on August 18, 2012, 04:57:24 PM

Quote from: smoothie on August 18, 2012, 04:45:46 PM

Don't like what truth's I have to say?

What you call "truths" are not truths. They are just speculation. There is a speculation forum here: https://bitcointalk.org/index.php?board=57.0. Why not post there? Why are you cluttering up these forums with this trash?

The only thing that I said was speculation was if he would return the funds or not.

All of my other comments which is 90% of what I said is fact:

Fact #1 - Pirate had at least 500k btc of investors' funds

Fact #2 - Pirate lifted referral requirement 4 weeks ago

Fact #3- He has paid 28% in interest in the past 4 weeks. Close to 140k BTC.

Fact #4 - He said we will pay all investors plus this weekly interest within a week.

I haven't seen proof for fact 1. It might be true, but your figure seems a bit high to me. Can you point me to some evidence for this claim since it is the lynchpin of your thesis?

robocoin

sr. member

Activity: 252

Merit: 250

Quote from: smoothie on August 18, 2012, 04:51:15 PM

Quote from: notme on August 18, 2012, 04:49:03 PM

Quote from: smoothie on August 18, 2012, 04:45:46 PM

Quote from: notme on August 18, 2012, 04:42:22 PM

Why yet another thread with accusations based on assumptions. Don't we have enough already. Can't you just wait a week, or do you have nothing better to do?

Why are you crying still? Roll Eyes

Stop reading the forum for a week then.

Don't like what truth's I have to say?

Yes my thoughts on him not having all the bitcoins is still speculation, but all of the FACTS (interest paid, referral req. lifted, etc.) point to the conclusion that people will not get their money back in the short period pirate has claimed.

I might have to leave for a while... pirate's already the topic of every fucking thread, yet you insist on making more.

This is my question to you and many others:

What's so fucking irritating about me making another thread on this forum? Seems like people only complain about threads that point people in the direction of them possibly losing their money due to a scam. You are one of them complaining. It's a fucking thread for crying out loud. If you see a title with pirate in it don't read it or if you do don't cry. Just like if you lost money with pirate, don't cry.

Absolutly ok. I enjoy your quality trolling. Posts: 2562 and counting, omg.

smoothie

legendary

Activity: 2492

Merit: 1491

LEALANA Bitcoin Grim Reaper

Quote from: odolvlobo on August 18, 2012, 04:57:24 PM

Quote from: smoothie on August 18, 2012, 04:45:46 PM

Don't like what truth's I have to say?

What you call "truths" are not truths. They are just speculation. There is a speculation forum here: https://bitcointalk.org/index.php?board=57.0. Why not post there? Why are you cluttering up these forums with this trash?

The only thing that I said was speculation was if he would return the funds or not.

All of my other comments which is 90% of what I said is fact:

Fact #1 - Pirate had at least 500k btc of investors' funds

Fact #2 - Pirate lifted referral requirement 4 weeks ago

Fact #3- He has paid 28% in interest in the past 4 weeks. Close to 140k BTC.

Fact #4 - He said we will pay all investors plus this weekly interest within a week.

notme

legendary

Activity: 1904

Merit: 1002

Quote from: JoelKatz on August 18, 2012, 05:00:44 PM

So what's happening with Pirate pass throughs? For those who think Pirate will pay everyone back, they should be worth close to face value. For those who think Pirate is a Ponzi, they are worthless. So what does the market think?

They are going for very slightly below face value. For those who invested through me, they have already been repaid in full from my personal funds.

Topic: Pirate paying back investors within a week OR two? - page 2. (Read 4802 times)