Putting your money where Pirate's mouth is. - page 22.

organofcorti

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Poor impulse control.

Quote from: ?? on ??

Quote from: phantitox on July 12, 2012, 12:29:02 AM

what level are we? Grin

Level 3? That thing shows it growing by a factor of 6. How long does it take to get 6 times your money at 7% a week? Months....

edit: assuming that this is a ponzi... not that i think it is...

Nah. Not applicable here, Goat. That there's a Pyramid Ponzi.

Now, what we got over here is a Bitcoin Ponzi. Completely different. One is pointy, the other isn't.

phantitox

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Quote from: ?? on ??

Quote from: phantitox on July 12, 2012, 12:29:02 AM

what level are we? Grin

Level 3? That thing shows it growing by a factor of 6. How long does it take to get 6 times your money at 7% a week? Months....

edit: assuming that this is a ponzi... not that i think it is...

nah i dont think is a ponzi neither, i'm just curious to know, at what level are we Grin

Hexadecibel

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I still <3 u Satoshi

Quote from: organofcorti on July 11, 2012, 11:51:16 PM

Quote from: Hexadecibel on July 11, 2012, 11:09:04 PM

That thing pirate does is most likely a ponzi.

But on the other hand, if he owns gpumax.com and that too was a ponzi, you would think that they would have gone through the minimal effort to obfuscate the whois lookup for the domain name.

The name and address is probably fake, or just one of his lackey's... though I think falsifying domain registry credintials is against the law, but so is running a ponzi scheme right?...
Or do we already know who pirate is?

Honestly I've only been paying half attention.

Whenever I see pirate come up in a thread I do think of this though:

I think usagi might be a little pissed if he reads that: https://bitcointalksearch.org/topic/post-85444

haha oh nice...

phantitox

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what level are we? Grin

SimBesh

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Quote from: mp420 on July 11, 2012, 11:54:52 PM

I liked the original Bitcoin Ponzi Scheme (the one that advertised itself as such) far more. No one was even trying to imply it would work in the long term.

I'm not exactly sure Vandroiy will win this bet. It depends a lot on the structure of Pirate's ponzi. If his victims are confident enough he can lower the interest rates gradually so that eventually the scam can go on for a few years. For example 2% weekly interest would only require the size of the aggregate investment multiplying (roughly) by the factor of eight annually to keep Pirate's funds growing. 1% weekly would need less than 300% yearly growth.

Nothing other than ponzi could generate these kinds of returns, of course. So I'm quite rationally assuming BS&T is not a legit business.

mp420

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I liked the original Bitcoin Ponzi Scheme (the one that advertised itself as such) far more. No one was even trying to imply it would work in the long term.

I'm not exactly sure Vandroiy will win this bet. It depends a lot on the structure of Pirate's ponzi. If his victims are confident enough he can lower the interest rates gradually so that eventually the scam can go on for a few years. For example 2% weekly interest would only require the size of the aggregate investment multiplying (roughly) by the factor of eight annually to keep Pirate's funds growing. 1% weekly would need less than 300% yearly growth.

Nothing other than ponzi could generate these kinds of returns, of course. So I'm quite rationally assuming BS&T is not a legit business.

organofcorti

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Poor impulse control.

Quote from: Hexadecibel on July 11, 2012, 11:09:04 PM

That thing pirate does is most likely a ponzi.

But on the other hand, if he owns gpumax.com and that too was a ponzi, you would think that they would have gone through the minimal effort to obfuscate the whois lookup for the domain name.

The name and address is probably fake, or just one of his lackey's... though I think falsifying domain registry credintials is against the law, but so is running a ponzi scheme right?...
Or do we already know who pirate is?

Honestly I've only been paying half attention.

Whenever I see pirate come up in a thread I do think of this though:

I think usagi might be a little pissed if he reads that: https://bitcointalksearch.org/topic/post-85444

myrkul

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FIAT LIBERTAS RVAT CAELVM

Quote from: ?? on ??

Quote from: Hexadecibel on July 11, 2012, 11:09:04 PM

Honestly I've only been paying half attention.

But you're fully baked. Perfect qualifications for posting to this ~~thread~~ forum.

Fixed.

Hexadecibel

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I still <3 u Satoshi

That thing pirate does is most likely a ponzi.

But on the other hand, if he owns gpumax.com and that too was a ponzi, you would think that they would have gone through the minimal effort to obfuscate the whois lookup for the domain name.

The name and address is probably fake, or just one of his lackey's... though I think falsifying domain registry credintials is against the law, but so is running a ponzi scheme right?...
Or do we already know who pirate is?

Honestly I've only been paying half attention.

Whenever I see pirate come up in a thread I do think of this though:

organofcorti

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Poor impulse control.

Huh. There's a rate of only 0.596 mentions of "ponzi" per post so far (including this one).

Come on guys! Ponzi up a little! (0.602 ponzis per post now).

imsaguy

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Quote from: bitcoinBull on July 11, 2012, 07:54:41 PM

Quote from: SimBesh on July 11, 2012, 06:48:48 PM

if pirate is running a ponzi, and takes off, wouldn't that torpedo GPUmax, which looks like it could generate serious revenue once he opens it up to the public (exits beta) ?

Okay, this is an honest question: How could GPUmax generate serious revenue?

"shares", or hashes to solve the next block, already have a price, denominated as a fraction of a block of 50BTC. That fraction of a bitcoin already has a price set on MtGox. Who would pay more for your shares than you would get by submitting them to a pool?

Quote from: SimBesh on July 11, 2012, 06:55:12 PM

Ah, yes GPUmax is also a ponzi, the 'ol ponzi double down, the 'ol ponzi²

blinking LEDs.

Ponzi.

SimBesh

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Quote from: bitcoinBull on July 11, 2012, 07:54:41 PM

Okay, this is an honest question: How could GPUmax generate serious revenue?

"shares", or hashes to solve the next block, already have a price, denominated as a fraction of a block of 50BTC. That fraction of a bitcoin already has a price set on MtGox. Who would pay more for your shares than you would get by submitting them to a pool?

Good, question and i don't know the answer,.
but since its beta everything is still free.. what about a monthly subscription fee for the service? or a small % cut from all earnings/transactions?

bitcoinBull

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rippleFanatic

Quote from: SimBesh on July 11, 2012, 06:48:48 PM

if pirate is running a ponzi, and takes off, wouldn't that torpedo GPUmax, which looks like it could generate serious revenue once he opens it up to the public (exits beta) ?

Okay, this is an honest question: How could GPUmax generate serious revenue?

"shares", or hashes to solve the next block, already have a price, denominated as a fraction of a block of 50BTC. That fraction of a bitcoin already has a price set on MtGox. Who would pay more for your shares than you would get by submitting them to a pool?

Quote from: SimBesh on July 11, 2012, 06:55:12 PM

Ah, yes GPUmax is also a ponzi, the 'ol ponzi double down, the 'ol ponzi²

blinking LEDs.

SimBesh

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Quote from: notme on July 11, 2012, 07:06:48 PM

Ponzi. Ponzi. Ponzi.

notme

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Ponzi. Ponzi. Ponzi.

imsaguy

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Don't send me a pm unless you gpg encrypt it.

Quote from: SimBesh on July 11, 2012, 06:55:12 PM

Quote from: imsaguy on July 11, 2012, 06:50:11 PM

Quote from: SimBesh on July 11, 2012, 06:48:48 PM

if pirate is running a ponzi, and takes off, wouldn't that torpedo GPUmax, which looks like it could generate serious revenue once he opens it up to the public (exits beta) ?

Ponzi.

Ah, yes GPUmax is also a ponzi, the 'ol ponzi double down, the 'ol ponzi²

Ponzi. Ponzi.

SimBesh

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Quote from: imsaguy on July 11, 2012, 06:50:11 PM

Quote from: SimBesh on July 11, 2012, 06:48:48 PM

if pirate is running a ponzi, and takes off, wouldn't that torpedo GPUmax, which looks like it could generate serious revenue once he opens it up to the public (exits beta) ?

Ponzi.

Ah, yes GPUmax is also a ponzi, the 'ol ponzi double down, the 'ol ponzi²

imsaguy

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Don't send me a pm unless you gpg encrypt it.

Quote from: SimBesh on July 11, 2012, 06:48:48 PM

if pirate is running a ponzi, and takes off, wouldn't that torpedo GPUmax, which looks like it could generate serious revenue once he opens it up to the public (exits beta) ?

Ponzi.

SimBesh

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if pirate is running a ponzi, and takes off, wouldn't that torpedo GPUmax, which looks like it could generate serious revenue once he opens it up to the public (exits beta) ?

bitcoinBull

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rippleFanatic

Quote from: imsaguy on July 11, 2012, 06:41:53 PM

Well, If BFL ships ASIC, we can say they are legit. Until then we get to call them scammers?

No, you should claim that pirate is BFL's backer and that pirate's lenders' profits are from BFL's profits.

Topic: Putting your money where Pirate's mouth is. - page 22. (Read 73398 times)