Topic: pirate payments list -- accounts paid: 23/459 - page 18. (Read 62234 times)

I think these co-conspirators knew they could all loose there principle but they knew they were getting in early enough to make a profit.  I too wouldnt have even thought of investing if it wasn't all the support Pirate got from 'VIP Hero' members of this forum.  Who all said they new who he was personally and new it was a legit investment. 

This is a good point... that is a major reason I invested.  PH, BurtW, etc.... all long time members gave me ease.

Oh yes you do. You give them crumbs, in return they give you credibility and a large inflow of btc's. If it werent for the Pirate Ponzi Team cheerleaders and the trust they enjoyed in the community, Im pretty sure the scheme would have collapsed ages ago. But if a dozen well known and generally respected "hero members"/VIPS etc pretend to know things you dont know, appear willing to swear on their mothers grave Pirate is the real deal, well, it makes even the most level headed guy wonder.

While a lot of criminals are very narcissistic and do enjoy the good ego stroke every now and then, it seems like a very high cost (as opposed to having the data).  Although having even the 'backing' of the likes of BurtW, PH, payb.tc, hashking, goat, etc was an in-arguable value.  Maybe he thought that it was big enough he could manage without the extra info.

I highly doubt this.  One generally does not pull off a crime of this nature and expect to get caught.  If anything it could be the reason he does get caught because it gives people something to rally around.

At first I was very offended at this, then I understood what you were saying

For one thing, it gives him co-conspirators.  They massage his ego, and act as a shield against the truth tellers on the forum.

And now, they may very well be chips he is using to negotiate a more favorable sentence.  Add that to the equation and see if things start making sense in your little woolen brain.

#1 - I am not PH, but thanks for the compliment.  Also I am not trying to absolve anyone of anything... I am just trying to talk through things that don't make sense in my brain.

#2 - This is *exactly* my point of things that just don't 'add up'.  If I were pirate AND I were running a ponzi then I would not want PPTs for exactly the reason you stated.  It just doesn't make sense.

Very good explanation, thanks. Then I would suggest to Nefario to give more details on the stocks listed along this line (money flows in & out), so that we can see at any time if anyone passed or is close to the Ponzi Point Of No Return (of your money, or PPONR).

OMG no! Not his OTC rating! How will he ever get by???

Edit: And thanks for the update, even if the news (or lack thereof) is disappointing.

And now the reason for the creation of your sock account is made clear.  You are trying to absolve the PPT operators of any wrongdoing.  Is that you Patrick?

The nature of a Ponzi operation is very simple.  It works as long as the inflow of funds exceeds the outflow.  Once the net flow of funds turns negative the end is inevitable.  It is merely a question of when the scheme folds up.  A more narcissistic operator may be overwhelmed by the high of the attention and adulation he is the recipient of and ride the whole thing down to a negative balance as Madoff nearly did, whereas a calculating thief will pull the plug in fairly short order from the turn in cash flow.

If you want to time a Ponzi, information on the flow of funds is critical.  Knowing when the cashflow turns will always give you advance warning of the endpoint for the process.

PPT operators were ideally situated to have that information and act upon it.  Once a particular fund's flow turns negative, an operator with ill intent could safely start his own shadow Ponzi; holding all deposited funds himself, and increasing withdrawal rates over actual customer demand.  If you are a PPT operator and want absolution, a good starting point would be to disclose your deposit and withdrawal addresses so that there is proof that you continued to flow funds to Trendon in a transparent manner right up until the end.

Nope, not a peep. Even his bot has shut up, now.

His OTC rating has dropped by close to 40 points, though.

Has there been any communication from Pirate lately?

No there isn't anything in 'cold storage'.  Bitcoinmax was never more than a conduit to BTCS&T and that was made perfectly clear.

payb.tc is free to correct me, but if pirate pays out nothing then we get nothing.

Of course not, I invested them. So now that it is pretty clear, that pirate does not pay out, are there any securities in cold storage of bitcoinmax? Will we be reimbursed to some degree or were all the coins fluctuating the whole time and it is really 0 ZERO for bitcoinmax and the investors?

welcome back.

A "vibe" that is includes convenient ignorance, absurd ethics, fraud and lies deserves being disrupted.

Disgrace lies in the eye of the beholder.

I think these two spell out the problem in droves...  We have the opinion of "RABBLE RABBLE RABBLE.... oh well another theft."  and then it is forgotten.  I have been active in the community for ~7 months and have never heard of RustyRyan, just never read the thread.  So whatever he is doing I could very well be vulnerable to.


It kind of is, though. Nobody knows where Pirate is right now, and nobody knows whether he has bitcoins or USD.