Topic: PirateAt40's Money Laundering Operations: GPUMAX and BST - page 7. (Read 16079 times)

does anyone else think its interesting that he is trying harder to find my identity than to discredit me?

in case the rest of you don't know, imsaguy does business with pirate

Just like you know its easy to spread FUD without having to back up what you say.  Maybe you should use your original account instead of hiding behind a new one.

sorry, theres no way for me to do that which wont be personally traceable.  but you already knew that...  

Evidence?

drugs mostly.  make a purchase with the top sellers on SR and then trace them.

you are right.  i don't have the balls to publicly identify myself as the snitch and take the stiches i deserve.

Actually I missed your post, but you are spot on:

Not just a thread, but a brand new account.  So either its a total n00b making accusations based on what other people are asserting without adding any new evidence OR its someone that's been around for a while and doesn't have the balls to post using their original account. 

As mentioned, earlier today I made a few posts on the topic, I'm assuming OP read these and decided to make a thread:
https://bitcointalksearch.org/topic/earnings-with-gpumax-82534

This is your first post?  Who are you really?

Bernie Madoff ran his ponzi scheme from 1970 until 2008.

Earlier today I made a post about this, and I have a feeling this is what may have inspired this thread. If pirate is laundering Bitcoin then the people who are paying him to do it are paying him ridiculous rates. If you go to onionland you'll find plenty of people willing to launder Bitcoins for a 1-2% fee.

Given all the proof you provided, I cannot help but admit that you are right about Pirate.  I am withdrawing immediately.


sarcasm

there has been a lot of speculation as to what pirateat40 is doing in order to be able to offer seemingly impossibly good returns in BST and such high rates at GPUMAX.  While it has already been speculated upon I would like to confirm: PirateAt40 is laundering money.  

Here is how they work:

Bitcoin Savings & Trust

Many have asked: How is Pirate regularly paying off 7% a week, with consistency and over a period of time?  (a ponzi would have folding months ago)

Pirate tries to maintain a buffer of somewhere between 10-50k clean bitcoins on hand.  These are the investments from the BTC community.   When one of his customers needs their Bitcoins laundered, he sends them 30-50% the number of dirty Bitcoins back to the customer in clean bitcoins.  (Some of his customers get better rates than others).  then he uses the dirty bitcoins to pay interest back to the depositors.  

This buys his customers the assurance that their new coins are no longer connected to them through the blockchain.  But he can offer them one better...

GPUMAX

GPUMAX is the ultimate form of money laundering because your coins don't come from anyone. they are printed out of thin air.  Miners are happy to be paid 150% without asking questions.  anyone who has been paid out from GPUMAX has recieved dirty coins (unless you were a really early tester).  He can send fresh clean coins to anyone who pays him in bitcoin.  we know that even people who don't have a relationship with us are using it to launder.

Why am I posting this?

Sorry, but I can't say too much without putting myself in the line of fire.  Pirate is a nice guy at heart, but he does business with some ugly people who I don't want coming back to me. recently though, he hasn't been thinking about the long-term for bitcoin, only the short term profits for himself.  he is reinvesting his money in businesses which are illegal in his (and most other) jurisdictions around the world. but the part i am most worried about:

Over the past few months, Pirate has started to get stupid about his IRL spending habits.  He has made some purchases that are probably going to raise some red flags.  His "legitimate" occupation will not stand up to scrutiny if the feds shine a light on him.  there is no way he can justify the amount of money he is pulling out. hes not keeping a clean head and people that know him can tell something isnt quite right. this is what really has me concerned, because he is just being too flashy.

edit: lender beware