Reserve Fund has been paid out. This is now closed. - page 3.

theymos

administrator

Activity: 5222

Merit: 13032

Quote from: OgNasty on April 27, 2012, 06:10:01 PM

Quote from: ?? on ??

Mod note: this account has been compromised. Do not send BTC to any recently-posted addresses.

Thanks for the heads up.

Quote from: chunglam on April 27, 2012, 08:04:27 PM

Hi OgNasty,
Please change my repayment address to "1AMFex7h8b8TBD5WewZdHTqSQjMG8fiSsF", I restored my wallet from backup and lost some new receiving addresses. I will acknowledge this change in your thread for public record. Thanks.

chunglam

It's possible that his account was not compromised, so please don't send to his old address either.

OgNasty

donator

Activity: 4760

Merit: 4323

Leading Crypto Sports Betting & Casino Platform

Quote from: ?? on ??

Mod note: this account has been compromised. Do not send BTC to any recently-posted addresses.

Thanks for the heads up.

Quote from: chunglam on April 27, 2012, 08:04:27 PM

Hi OgNasty,
Please change my repayment address to "1AMFex7h8b8TBD5WewZdHTqSQjMG8fiSsF", I restored my wallet from backup and lost some new receiving addresses. I will acknowledge this change in your thread for public record. Thanks.

chunglam

terrytibbs

hero member

Activity: 560

Merit: 501

Quote from: ?? on ??

Is it possible for profits to exist before a venture, or are they the result of work put into a venture? Once those profits are earned, do they not belong to the individual who earned them? Wouldn't that then explain that I am risking my own money on this venture?

It doesn't really, no. Look at Burt and his crew; they cover up to 25% out of their own pocket. You just sit on your ass.

I'm sorry you feel my questions are incriminating and as such feel the need to ask me to stop asking for clarification, but I will respect your wish.

terrytibbs

hero member

Activity: 560

Merit: 501

Quote from: OgNasty on April 24, 2012, 10:07:02 AM

Quote from: terrytibbs on April 24, 2012, 12:31:52 AM

So, basically, this is all profit no risk for you?

I would argue that I'm risking my profits.

These profits you speak of, did they exist before this venture or are they generated by the venture itself?

OgNasty

donator

Activity: 4760

Merit: 4323

Leading Crypto Sports Betting & Casino Platform

Quote from: terrytibbs on April 24, 2012, 12:31:52 AM

So, basically, this is all profit no risk for you?

I would argue that I'm risking my profits.

terrytibbs

hero member

Activity: 560

Merit: 501

Quote from: OgNasty on April 07, 2012, 04:14:22 PM

WHAT IF BITCOIN SAVINGS & TRUST DISAPPEARS?
I have established a reserve fund using proceeds from this operation that will be used to partially refund investors, should the worst occur. In the beginning this fund will be empty, so BS&T disappearing would result in a total loss. Once I have received a few payments and established the reserve account, I will update the amount held on this thread.

So, basically, this is all profit no risk for you?

nathantrumpet

newbie

Activity: 23

Merit: 0

Quote from: OgNasty on April 23, 2012, 06:56:29 PM

BASE RATE INCREASE:

In order to encourage new deposits and reward all depositors for the growth of this program, I would like to announce a potential increase to the base rate on deposits. Once there are 2000+ Total BTC Held in Deposits listed on this thread, the base rate will be increased from 8% to 10% for all depositors.

Note:
Having 2000+ Total BTC Held in Deposits will also enable the Reserve Fund to grow much faster, which will benefit all depositors.

The base rate may be lowered back to 8% if Total BTC Held in Deposits fall below 2000 BTC for a prolonged length of time.

Wow, what an incentive!! Bump for a great guy and a fantastic program.

OgNasty

donator

Activity: 4760

Merit: 4323

Leading Crypto Sports Betting & Casino Platform

BASE RATE INCREASE:

In order to encourage new deposits and reward all depositors for the growth of this program, I would like to announce a potential increase to the base rate on deposits. Once there are 2000+ Total BTC Held in Deposits listed on this thread, the base rate will be increased from 8% to 10% for all depositors.

Note:
Having 2000+ Total BTC Held in Deposits will also enable the Reserve Fund to grow much faster, which will benefit all depositors.

The base rate may be lowered back to 8% if Total BTC Held in Deposits fall below 2000 BTC for a prolonged length of time.

chunglam

donator

Activity: 229

Merit: 106

Additional 50 BTC sent, bitcoin transaction: eb16855c3ccc5dedc54c008ce4f73963f12795ce6b9ce27f8f3fddb2d1fe1125

OgNasty

donator

Activity: 4760

Merit: 4323

Leading Crypto Sports Betting & Casino Platform

LOYALTY REWARDS PROGRAM:

In order to reward larger depositors, I am introducing a Loyalty Rewards Program. Effective immediately, depositors with at least 250 BTC in deposits will automatically be enrolled into the program. For each completed interest rate period, depositors with 250+ BTC in deposits will be rewarded with a 1% interest rate increase per month. Depositors with 500+ BTC in deposits will be rewarded with a 2% interest rate increase per month. See below example.

Example:
250+ BTC deposited in April would receive a base rate interest payment on May 1st, +1% on June 1st, +2% on August 1st, etc.
500+ BTC deposited in April would receive a base rate interest payment on May 1st, +2% on June 1st, +4% on August 1st, etc.

Depositors who fall below the 250 BTC loyalty requirement will forfeit their previously earned rewards.
Depositors who fall below the 500 BTC loyalty requirement will have their previously earned rewards cut in half.

20% maximum monthly interest rate applies.

UPDATE:
Accounts holding 250+ BTC will now receive a flat 2% interest rate reward.

OgNasty

donator

Activity: 4760

Merit: 4323

Leading Crypto Sports Betting & Casino Platform

Quote from: MrTeal on April 13, 2012, 01:26:50 PM

What is the target for the reserve account, and what percentage of your profits from the passthrough will be used to build up the reserve?

The target for the reserve account is 100%. The question is, how long will it take to get there? I am hesitant to commit to an exact % of profits that will go to the reserve account, but I plan to increase it on a regular basis as interest payments are paid out.

MrTeal

legendary

Activity: 1274

Merit: 1004

What is the target for the reserve account, and what percentage of your profits from the passthrough will be used to build up the reserve?

Btc4Domains

vip

Activity: 99

Merit: 15

Quote from: OgNasty on April 11, 2012, 10:14:26 PM

Quote from: Btc4Domains on April 11, 2012, 09:33:25 PM

are you doing anything else with these funds, or is it strictly all going into pirate?

No. These funds are going to pirateat40 and I will always maintain the amount shown on this thread in my account.

Quote from: Btc4Domains on April 11, 2012, 09:33:25 PM

would it be reasonable to assume that if something happened to Pirate...you would likely want to do what you can to protect your own reputation and business, possibly take a loss with the longer term view of building up your own base of lenders who trust YOU?

Quote from: OgNasty on April 11, 2012, 10:14:26 PM

No. If something happens to pirateat40, I will have no way to generate the necessary interest to continue paying out 8% on deposits.

Thanks for the reply. I try to manage my risk and this is helpful. PM sent!

chunglam

donator

Activity: 229

Merit: 106

200 BTC sent, transaction: http://blockchain.info/tx-index/3840037/e41a1cf216655f1251329c1d34185213a1d69c75529bf9a296f735234c1ebb0c

OgNasty

donator

Activity: 4760

Merit: 4323

Leading Crypto Sports Betting & Casino Platform

Quote from: Btc4Domains on April 11, 2012, 09:33:25 PM

are you doing anything else with these funds, or is it strictly all going into pirate?

No. These funds are going to pirateat40 and I will always maintain the amount shown on this thread in my account.

Quote from: Btc4Domains on April 11, 2012, 09:33:25 PM

would it be reasonable to assume that if something happened to Pirate...you would likely want to do what you can to protect your own reputation and business, possibly take a loss with the longer term view of building up your own base of lenders who trust YOU?

No. If something happens to pirateat40, I will have no way to generate the necessary interest to continue paying out 8% on deposits. What I would do to protect my reputation, is pay out the reserve fund to depositors proportionately to their current deposit as listed on this thread. It is important that depositors read the information provided in the original post and not make assumptions.

Btc4Domains

vip

Activity: 99

Merit: 15

Hi there OgNasty, found your posts in the Pirate thread - took a couple of days to finish reading through it all Embarrassed

wogaut

donator

Activity: 448

Merit: 250

@OgNasty, thanks for the clarification

@Wekkel, sure know that Roll Eyes

(forgive my eye-roll, just had to do that), just wasn't aware that these addresses were there for interest only, as I assumed they reflected the address the funds were submitted from or to, so I expected at least one transfer associated with them.

Wekkel

legendary

Activity: 3122

Merit: 1538

yes

Administration wise it can be usefull to generate a specific receiving address to receive money from a specific sender. Try it, it is a feature in your bitcoin client Roll Eyes

OgNasty

donator

Activity: 4760

Merit: 4323

Leading Crypto Sports Betting & Casino Platform

Quote from: wogaut on April 11, 2012, 12:58:57 PM

How come that all the quoted addresses have 0 transactions associated with them, and show up as "Never used"?
Looks like some randomly generated addresses, what's the point?

Good question. The link will track the total amount of interest paid to that address. Since no payments have been made as of yet, they are all showing 0. Once the first interest rate cycle has completed, you will see that number update to reflect their interest payment and all future interest payments.

wogaut

donator

Activity: 448

Merit: 250

Quote from: OgNasty on April 07, 2012, 04:14:22 PM

Anonymous №1: 400 BTC as of April 7th, 2012 | 1AYoshhS6VLYNWRNX5P6EWxUcrKLr16KLB
Wekkel: 100 BTC as of April 7th, 2012 | 1LUPYsMBBAX937a16cTzMXMbnGv6pEfBPt
miscreanity: 10 BTC as of April 8th, 2012 | 1LdpVFiqFX7ymHp6AMhrNq8J9PQ5ZSLoeo
Anonymous №2: 50 BTC as of April 10th, 2012 | 18fDCUZ9wvcrMFfQogCHar3FE7E5tu95E2
Anonymous №3: 300 BTC as of April 10th, 2012 | 1QDDCJGcp7iTdENDEMvtxsAMqoDBARLt7o
exahash: 250 BTC as of April 11th, 2012 | 1KH1wM55KJe422Uun66T7RC176MLZyKbRn

How come that all the quoted addresses have 0 transactions associated with them, and show up as "Never used"?
Looks like some randomly generated addresses, what's the point?

Topic: Reserve Fund has been paid out. This is now closed. - page 3. (Read 14196 times)