And the winding down announcement... think he had someone at Zeek telling him he'd get paid out?
If he was tied to Zeek, he should have just came out and said it as soon as he realized it was game over.
Topic: pirate payments list -- accounts paid: 23/459 - page 11. (Read 62234 times)
Has anybody asked him about this in IRC?
Now it all makes sense.. With the info that is available, it makes sense that Pirate was running a pass thru to Zeek. The reason he announced that he was going to lower the interest rate was due to the bitcoin climbing. IF my theory is correct, the coin had to stay close to 5 for him to keep things in equilibrium. But, when it shot to over 10 is when the bitcoin income probably slowed down and he had to purchase them. Hence the lower interest rate announcement. Then Zeek gets shut down so the whole thing comes to an end..
Well, if the above is what happened, at least im fairly confident no one person has 500k coins at their disposal...
Now, let me grab that almost empty popcorn bag....
Well, if the above is what happened, at least im fairly confident no one person has 500k coins at their disposal...
Now, let me grab that almost empty popcorn bag....
why in the heck does pirateat40 not have a scammer tag yet?
pirateat40
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Mods.. what crack are you smoking? Too lazy to mark him as a scammer for a measily rip like he did?
Yet jump on others for such trivial things. Pfft.
pirateat40
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Mods.. what crack are you smoking? Too lazy to mark him as a scammer for a measily rip like he did?
Yet jump on others for such trivial things. Pfft.
Um because Pirate said 10.65% instead of 10.50% that means what exactly?
I don't really know what the quote of a lying two-bit criminal and scumbag is really "proof" of.
Quote
You already have the interest rate wrong
Maybe Pirate had the interest rate wrong, or maybe he padded it to make his margin look more impressive, or maybe he simply lied so much for so long he started getting the lies and reality mixed up. I don't really know what the quote of a lying two-bit criminal and scumbag is really "proof" of.
Why would anyone run a secret pass through to a ponzi when they could just run a ponzi themselves?
Ponzis are apparently delicate things, especially in the early days - one big investor pulling out early on can spell doom for them. I'd be more inclined to believe he was just a pass-through if it wasn't for the fact that Maged and co. investigated his finances through the blockchain and seemed to reckon they were consistent with a highly profitable standalone ponzi scheme. This is a complete shit-show. All this speculation is now making a joke of the situation.
I am sure there are 1001 reasons and coincidences......NONE of which have anything to do with the other.
Keep this in mind:
Trendon had said his Clients wanted all dealings to become revealed once money was paid back and business was closed.
Anyone care to make any connections with that info ? speculate a bit more ?......GIVE IT A REST.
I am sure there are 1001 reasons and coincidences......NONE of which have anything to do with the other.
Keep this in mind:
Trendon had said his Clients wanted all dealings to become revealed once money was paid back and business was closed.
Anyone care to make any connections with that info ? speculate a bit more ?......GIVE IT A REST.
You truly believe there are any Clients
Like they would want whatever they were doing be made public.... If they exist at all 
Still holding up hope eh?
I'm glad you finally get it.
This is a complete shit-show. All this speculation is now making a joke of the situation.
I'm glad you finally get it.
This is a complete shit-show. All this speculation is now making a joke of the situation.
I am sure there are 1001 reasons and coincidences......NONE of which have anything to do with the other.
Keep this in mind:
Trendon had said his Clients wanted all dealings to become revealed once money was paid back and business was closed.
Anyone care to make any connections with that info ? speculate a bit more ?......GIVE IT A REST.
I am sure there are 1001 reasons and coincidences......NONE of which have anything to do with the other.
Keep this in mind:
Trendon had said his Clients wanted all dealings to become revealed once money was paid back and business was closed.
Anyone care to make any connections with that info ? speculate a bit more ?......GIVE IT A REST.
The ZeekRewards theory looks very plausible. Everything, like the dates and the percentages, seems to add up. If it turns out to be the right explanation, this is very good news for Bitcoin. I just couldn't stomach the fact that a criminal like Pirate would possibly be the richest man in Bitcoinland by running away with 500K BTC form the people he scammed. It serves him well if he's lost the money. The funny thing is, he was probably so stupid as to think his scheme could work.
If this Zeek theory is true, then Pirate may have been smart enough to take his part of the daily returns out
With 500K BTC even converted at $5 on avg, his daily 0.5% take comes down to 0.5% X $ 2.5 mln = $ 12.500
According to the SEC $ 160 mln was paid out of ZEEK in July, so it's entirely possible he could take such amounts out of it
A risk free pass through because it is with other peoples money netting $ 12.500 a day
He is laughing all the way to the bank, don't feel sorry for him
I hope he was dumb enough to keep his money there compounding
I wonder, if he was investing into Zeek. Would he have been doing so through a bank account?
Not made a bank records request on him yet....
The (not so) funny thing is that if he invested in Zeek, there's nothing anyone can do to get the money back from him
He didn't steal your money.... he's willing to give it back but not able as it is in receivership and the gains he made off of running his pass through are probably his to keep
Even the guy running the Zeek Ponzi got away with paying a $ 4 mln fine and giving up his interest in the company
Pirate always said it was high risk....
Yes it would....
Problem is now the cat is out of the bag, if pirate makes this statement and the community accepts it there is no knowing if he did sack the coins or or not.
Well a valid claim for around 500K BTC worth in fiat with the receiver of ZEEK would do wonders... if he can't give people that... he did sack them
The ZeekRewards theory looks very plausible. Everything, like the dates and the percentages, seems to add up. If it turns out to be the right explanation, this is very good news for Bitcoin. I just couldn't stomach the fact that a criminal like Pirate would possibly be the richest man in Bitcoinland by running away with 500K BTC form the people he scammed. It serves him well if he's lost the money. The funny thing is, he was probably so stupid as to think his scheme could work.
If this Zeek theory is true, then Pirate may have been smart enough to take his part of the daily returns out
With 500K BTC even converted at $5 on avg, his daily 0.5% take comes down to 0.5% X $ 2.5 mln = $ 12.500
According to the SEC $ 160 mln was paid out of ZEEK in July, so it's entirely possible he could take such amounts out of it
A risk free pass through because it is with other peoples money netting $ 12.500 a day
He is laughing all the way to the bank, don't feel sorry for him
I hope he was dumb enough to keep his money there compounding
I wonder, if he was investing into Zeek. Would he have been doing so through a bank account?
Not made a bank records request on him yet....
The (not so) funny thing is that if he invested in Zeek, there's nothing anyone can do to get the money back from him
He didn't steal your money.... he's willing to give it back but not able as it is in receivership and the gains he made off of running his pass through are probably his to keep
Even the guy running the Zeek Ponzi got away with paying a $ 4 mln fine and giving up his interest in the company
Pirate always said it was high risk....
Yes it would....
Problem is now the cat is out of the bag, if pirate makes this statement and the community accepts it there is no knowing if he did sack the coins or or not.
The ZeekRewards theory looks very plausible. Everything, like the dates and the percentages, seems to add up. If it turns out to be the right explanation, this is very good news for Bitcoin. I just couldn't stomach the fact that a criminal like Pirate would possibly be the richest man in Bitcoinland by running away with 500K BTC form the people he scammed. It serves him well if he's lost the money. The funny thing is, he was probably so stupid as to think his scheme could work.
If this Zeek theory is true, then Pirate may have been smart enough to take his part of the daily returns out
With 500K BTC even converted at $5 on avg, his daily 0.5% take comes down to 0.5% X $ 2.5 mln = $ 12.500
According to the SEC $ 160 mln was paid out of ZEEK in July, so it's entirely possible he could take such amounts out of it
A risk free pass through because it is with other peoples money netting $ 12.500 a day
He is laughing all the way to the bank, don't feel sorry for him
I hope he was dumb enough to keep his money there compounding
I wonder, if he was investing into Zeek. Would he have been doing so through a bank account?
Not made a bank records request on him yet....
The (not so) funny thing is that if he invested in Zeek, there's nothing anyone can do to get the money back from him
He didn't steal your money.... he's willing to give it back but not able as it is in receivership and the gains he made off of running his pass through are probably his to keep
Even the guy running the Zeek Ponzi got away with paying a $ 4 mln fine and giving up his interest in the company
Pirate always said it was high risk....
The ZeekRewards theory looks very plausible. Everything, like the dates and the percentages, seems to add up. If it turns out to be the right explanation, this is very good news for Bitcoin. I just couldn't stomach the fact that a criminal like Pirate would possibly be the richest man in Bitcoinland by running away with 500K BTC form the people he scammed. It serves him well if he's lost the money. The funny thing is, he was probably so stupid as to think his scheme could work.
If this Zeek theory is true, then Pirate may have been smart enough to take his part of the daily returns out
With 500K BTC even converted at $5 on avg, his daily 0.5% take comes down to 0.5% X $ 2.5 mln = $ 12.500
According to the SEC $ 160 mln was paid out of ZEEK in July, so it's entirely possible he could take such amounts out of it
A risk free pass through because it is with other peoples money netting $ 12.500 a day
He is laughing all the way to the bank, don't feel sorry for him
I hope he was dumb enough to keep his money there compounding
I wonder, if he was investing into Zeek. Would he have been doing so through a bank account?
Not made a bank records request on him yet....
The ZeekRewards theory looks very plausible. Everything, like the dates and the percentages, seems to add up. If it turns out to be the right explanation, this is very good news for Bitcoin. I just couldn't stomach the fact that a criminal like Pirate would possibly be the richest man in Bitcoinland by running away with 500K BTC form the people he scammed. It serves him well if he's lost the money. The funny thing is, he was probably so stupid as to think his scheme could work.
If this Zeek theory is true, then Pirate may have been smart enough to take his part of the daily returns out
With 500K BTC even converted at $5 on avg, his daily 0.5% take comes down to 0.5% X $ 2.5 mln = $ 12.500
According to the SEC $ 160 mln was paid out of ZEEK in July, so it's entirely possible he could take such amounts out of it
A risk free pass through because it is with other peoples money netting $ 12.500 a day
He is laughing all the way to the bank, don't feel sorry for him
I hope he was dumb enough to keep his money there compounding
The ZeekRewards theory looks very plausible. Everything, like the dates and the percentages, seems to add up. If it turns out to be the right explanation, this is very good news for Bitcoin. I just couldn't stomach the fact that a criminal like Pirate would possibly be the richest man in Bitcoinland by running away with 500K BTC form the people he scammed. It serves him well if he's lost the money. The funny thing is, he was probably so stupid as to think his scheme could work.
If this Zeek theory is true, then Pirate may have been smart enough to take his part of the daily returns out
With 500K BTC even converted at $5 on avg, his daily 0.5% take comes down to 0.5% X $ 2.5 mln = $ 12.500
According to the SEC $ 160 mln was paid out of ZEEK in July, so it's entirely possible he could take such amounts out of it
A risk free pass through because it is with other peoples money netting $ 12.500 a day
He is laughing all the way to the bank, don't feel sorry for him
The ZeekRewards theory looks very plausible. Everything, like the dates and the percentages, seems to add up. If it turns out to be the right explanation, this is very good news for Bitcoin. I just couldn't stomach the fact that a criminal like Pirate would possibly be the richest man in Bitcoinland by running away with 500K BTC form the people he scammed. It serves him well if he's lost the money. The funny thing is, he was probably so stupid as to think his scheme could work.
i somewhere heard that if a ponzi is detected by sec and the funds gets redistributed all pass-throughs dont get anything
is that true?
if so would that mean that pirate does not get his usd cut to payout his btc lenders?
Why would that be the case? For example, Pirate owes Goat say 40k btc. The SEC makes pirate pay Goat some money. Goat can do whatever he wants with that money, including give it to other people. Pirate's "give a list of depositors or face the consequences" deal is bullshit imo.is that true?
if so would that mean that pirate does not get his usd cut to payout his btc lenders?
i dont know, its just something i have read.
if it would be true it would mean that pirate does not get anything but his lenders do have a right to talk to zeekrewards directly.
essentially i just want to know the following:
IF pirate "invested" in zeek: whats the process to get money down to my bitcoinmax account.
who has the right to to decide which peace goes to whom
is anybody entitled to take a fee for his "dividing"-work
Zeek is currently in receivership.... so the receiver is adding up the available assets, then sees who has a valid claim as a participant
Then whatever assets are in Zeek are distributed to the valid claimants
This is a lengthy process, which can take years and the receiver has to be paid for the work he does, so any payout will be seriously whittled down.
Added problem is how can you lodge a valid claim ? You had an account at BitcoinMax, anonymously, in a cyber currency.... BitcoinMax had an account with a guy named pirateat40, also anonymously also in a cyber currency....
Is going to be an uphill battle for sure
i somewhere heard that if a ponzi is detected by sec and the funds gets redistributed all pass-throughs dont get anything
is that true?
if so would that mean that pirate does not get his usd cut to payout his btc lenders?
Why would that be the case? For example, Pirate owes Goat say 40k btc. The SEC makes pirate pay Goat some money. Goat can do whatever he wants with that money, including give it to other people. Pirate's "give a list of depositors or face the consequences" deal is bullshit imo.is that true?
if so would that mean that pirate does not get his usd cut to payout his btc lenders?
Another option is that Pirate knew it was a ponzi, but like many of the investor here he thought that he could get out before the collapse. If Pirate was running a passthrough and he had shuttered BTCST in July, he could have returned all the deposits and still come out way ahead (assuming no clawbacks) without risking his own money.
He would still be risking his own money, unless he intended all along not to pay back investors.Not necessarily. He could have intended to run the passthrough and pay everyone out, but accepted the risk that he wouldn't be able to pay back if the scheme fell down around him. If it did fail, it leaves the BTC community to internet rage and see if they're successfully able to sue him.
I have to admit, if it is the case that Pirate was all tied up in Zeek, the thought that he isn't sitting on a pile of cash he scammed but he got wiped out himself brings a smile to my face.
i somewhere heard that if a ponzi is detected by sec and the funds gets redistributed all pass-throughs dont get anything
is that true?
if so would that mean that pirate does not get his usd cut to payout his btc lenders?
Why would that be the case? For example, Pirate owes Goat say 40k btc. The SEC makes pirate pay Goat some money. Goat can do whatever he wants with that money, including give it to other people. Pirate's "give a list of depositors or face the consequences" deal is bullshit imo.is that true?
if so would that mean that pirate does not get his usd cut to payout his btc lenders?
i dont know, its just something i have read.
if it would be true it would mean that pirate does not get anything but his lenders do have a right to talk to zeekrewards directly.
essentially i just want to know the following:
IF pirate "invested" in zeek: whats the process to get money down to my bitcoinmax account.
who has the right to to decide which peace goes to whom
is anybody entitled to take a fee for his "dividing"-work
From what I understand about zeek it was paying about 1.5% a day.
Pirate said before he was making about 10.5% a week and paying out about 7%. Making a 3.5% profit.
1.5 x 7 = 10.5
Also the timing is just well odd. Same time zeek got shut down so did he.
Pirate said before he was making about 10.5% a week and paying out about 7%. Making a 3.5% profit.
1.5 x 7 = 10.5
Also the timing is just well odd. Same time zeek got shut down so did he.
Yes, but the "profit" in Zeek are in USD, and the profit with pirate were in BTC. In USD terms, Pirate "profits" were a lot higher (at least in the last months).
But then again, timing is odd :/
Pirate also said the only thing that would affect his business is if the price of bitcoin rose rapidly....
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