Topic: Putting your money where Pirate's mouth is. - page 18. (Read 73398 times)

If by straws you mean a substantial fraction of the coin output of Gpumax, yes.

I'm also logging which accounts keep flooding away my posts, just for later use. I wasn't expecting you to join.

Grasping at straws in this thread again, are we?

All jokes aside, I'm honestly starting to think you might have mental health issues :/

I should've noticed that VIP badge earlier.

*sigh*

You can flood all you want, I'm getting confirmations and you just burned another kinky last year's account.

The fluctuations in workload will be hard to explain from the outside. But this is not important; even 30% of the workload of a system this size has considerable coin throughput.



We're now at "No, we're laundering something else!!!!1" as an excuse, and even that does not sound right. Maybe my estimates of the BS&T deposit curve are just wrong. I hear about lots of workload earlier this year, when BS&T was already growing neatly.

Wow, so my timing was off. So where did all the leasing earlier come from, then?

Vandroiy,

I must say that your knee jerk reactions to pirate's businesses are going to cost you a lot of money. You would do well to start reading more and typing less.

Best,
gigavps

I just can't believe how out of your depth you are with this stuff

Way to make a bet without any facts.  Sheesh.

gigavps: So, it all boils down to the question of throughput of these leased shares. What fraction of gpumax mining happens on them?

I just got a private response that claimed 30% premium was typical, and it used to be better? Now, guys, something doesn't add up here. Who would pay a "typical" 30% while a majority just forwards with no premium?

It's probably better if we all wait for some feedback from the miner thread. Hell knows which account belongs to whom here.

Hehe

Hi Vandroiy,

I'll help you out since you are asking but it's a pretty simple concept. GPUMAX is a "proxy" that points my hashing power to my pool when they are not leasing shares. This means that my pool pays me my coins in this case.

When GPUMAX sells shares, coins are received from people who paid in BTC to lease them.

That's it.

Any answers by people that haven't been blacklisted for ages?

Okay... does this mean you are getting fresh coins?

That's the main point actually. Is there a lot of hashpower used on work that is paid with coins that have history? How big is the fraction of clean or relatively new coins?

Edit: "I run all of my hashing power through gpumax" is the important part here -- so they control which coins you get, no?

I run all of my hashing power through gpumax and imsaguy is correct. There has not been much public work. Us "in the know" call it leasing.

Don't you guys call it "public work"?

It's pretty simple to talk about an invite-only black-box and act like others are wrong. But this doesn't match the terminology used in the gpumax thread, so I'm not convinced.

I'll just ask people there.

Shhhhh, let them run with it.

Is this a reference to gpumax?  If so, its wrong.  GPUMax leasing hasn't been running much at all.

My guess is that many of his clients, probably a majority, work with compound interest. My reasoning is that people who pay in a relatively small amount base their investment on the hope to turn their insignificant initial investment into a significant amount.

If you only pay in a three-digit amount, what you earn by having your 7% paid out weekly is and remains peanuts. But if you could compound your interest over a year or two or three, you'd be rich.

I therefore guess that those who compound their interest tend to be three-digit investors, while those who collect their interest weekly tend to be those with larger investments. This is admittedly only a wild guess. It would mean that he has considerably more than 300k BTC, but not two or three times as much. My rough guess (based on your guess) would be 500k, quite a tidy amount of untidy money, enough to live a moderate life of leisure. It remains mere guesswork, but I wouldn't be surprised if we hit near home.

This makes me more confident that the scheme will end soon, probably this month, next month at the latest. If he kept having to pay out 22k BTC every week, without a steady stream of new investors his stockpile would be empty after a relatively low number of weeks, much less than a year. But he does not want to get anywhere near empty, so he has to end it very soon.

If he wanted to launder most of his gains, his laundromat would have to be running full bore now. Is that what we actually observe?

Ask pirate?

That makes sense, but what I asked is whether withdrawals and interest appear in the same transaction.

What you would in BTC get by submitting the share to any mining pool.

Looking at the target address history and the timing of withdrawals makes it possible to distinguish between the two with reasonable accuracy.

Edit: also
zerokwel, i wish i only paid out 22k a week.