Topic: Reserve Fund has been paid out. This is now closed. (Read 14104 times)
This thread stopped being relevant nearly 6 years ago. The reserve fund was paid out and all users were satisfied. End of story. Stop trying to confuse people with your witch hunts. Locking now and I've updated the subject to avoid further confusion.
OgNasty recently left me the following negative feedback
Reference:
https://bitcointalksearch.org/topic/m.28510263
Between this and BFL,
You sure seem to have a lot of experience when it comes to convincing other people to invest their money in ponzi schemes.
This thread is proof that my comment was accurate.
Reference:
https://bitcointalksearch.org/topic/m.28510263
As for pirateat40’s savings and loan, I was the only person providing insurance for deposits and when it collapsed I paid out everyone their insured amounts. Nothing but satisfied users, including our own famous NastyFans supporter, coblee.
Between this and BFL,
You sure seem to have a lot of experience when it comes to convincing other people to invest their money in ponzi schemes.
This thread is proof that my comment was accurate.
Due to the news of BTCST closing, I have requested all funds from the account and will be returning them to depositors as soon as received.
I will be looking into options to keep the program running in one form or another, but most likely I will close this program down to focus on NastyMining. Thank you to all my depositors.
UPDATE:
Bitcoin Savings & Trust is officially in default and the reserve fund has been paid out to depositors.
I will be looking into options to keep the program running in one form or another, but most likely I will close this program down to focus on NastyMining. Thank you to all my depositors.
UPDATE:
Bitcoin Savings & Trust is officially in default and the reserve fund has been paid out to depositors.
OgNasty runs a fine service. Had no issues at all.
All payments and withdrawals have been processed for July. Thank you.
I'm awaiting a withdrawal from BS&T. All payments/withdrawals will be made as soon as this transfer is completed.
a full withdraw to close this ponzi?
If Pirate still operates in 2 weeks, will you stop talking about ponzi?
I'm awaiting a withdrawal from BS&T. All payments/withdrawals will be made as soon as this transfer is completed.
a full withdraw to close this ponzi?
I'm awaiting a withdrawal from BS&T. All payments/withdrawals will be made as soon as this transfer is completed.
OgNasty is running an obvious ponzi Scheme.
Added to Micon's list of obvious ponzi schemes you should never send btc to or withdraw all you can ASAP
https://bitcointalksearch.org/topic/bryan-micons-list-of-btc-ponzi-schemes-that-should-not-be-listed-as-lending-94900
Added to Micon's list of obvious ponzi schemes you should never send btc to or withdraw all you can ASAP
https://bitcointalksearch.org/topic/bryan-micons-list-of-btc-ponzi-schemes-that-should-not-be-listed-as-lending-94900
Even worse, it's a possible ponzi with low payout relative to others.
OgNasty is running an obvious ponzi Scheme.
Added to Micon's list of obvious ponzi schemes you should never send btc to or withdraw all you can ASAP
https://bitcointalksearch.org/topic/bryan-micons-list-of-btc-ponzi-schemes-that-should-not-be-listed-as-lending-94900
Added to Micon's list of obvious ponzi schemes you should never send btc to or withdraw all you can ASAP
https://bitcointalksearch.org/topic/bryan-micons-list-of-btc-ponzi-schemes-that-should-not-be-listed-as-lending-94900
WHAT ARE THE RISKS INVOLVED?
There are always risks. The major risks are that pirateat40 or myself will disappear with your funds. A secondary risk is that BS&T stops paying interest.
There are always risks. The major risks are that pirateat40 or myself will disappear with your funds. A secondary risk is that BS&T stops paying interest.
priceless!
UPDATE:
- Reserve Account has been increased to 65 BTC.
- Base rate will remain at 8% after the BS&T rate reduction.
- Rewards will be limited to 2% after the BS&T rate reduction.
There will be some adjustments to adapt to the new lower rates at Bitcoin Savings & Trust.
https://bitcointalksearch.org/topic/m.1004085
We have also dipped below the 2000 BTC requirement and the interest rate has now dropped back down to 8% monthly.
https://bitcointalksearch.org/topic/m.1004085
We have also dipped below the 2000 BTC requirement and the interest rate has now dropped back down to 8% monthly.
OgNasty was very helpful setting up my account, and when I needed to withdraw he took care of me right away. Thanks so much for the great service you're running.
MONTHLY PAYMENTS SENT:
Interest payments have been sent to depositors for the month of June.
Interest payments have been sent to depositors for the month of June.
Code:
Account Opened Depositor Rate Reward Amount Payment Address
4/7/2012 Anonymous №1 10% 100.00 10.00 1AYoshhS6VLYNWRNX5P6EWxUcrKLr16KLB
4/10/2012 Anonymous №2 10% 50.00 5.00 18fDCUZ9wvcrMFfQogCHar3FE7E5tu95E2
4/11/2012 exahash - 10% 2% 250.00 30.00 1KH1wM55KJe422Uun66T7RC176MLZyKbRn
4/11/2012 geodude - 10% 10.00 1.00 1MJK5LNAdqhyCEeqAnpMjckKaFr8NXtTGu
4/13/2012 Anonymous №4 10% 3% 700.00 91.00 1mCJ9UpGPE8vok8StdobELZrW643tYFiF
5/1/2012 Jonny Heggheim 10% 30.00 3.00 1MRnQVysnF9t91i5UPHsApFh4vRCvBwXux
5/3/2012 Tannke - 10% 1% 440.00 48.40 INTEREST ROLLOVER PLAN
5/6/2012 squirrelman 10% 65.00 6.50 INTEREST ROLLOVER PLAN
5/12/2012 Uncle Scrooge 10% 1% 487.50 53.63 INTEREST ROLLOVER PLAN
5/21/2012 CecilNiosaki 10% 1% 252.25 27.75 INTEREST ROLLOVER PLAN
Mid-Month Deposits:
6/7/2012 Tannke - 8% 120.00 9.60 INTEREST ROLLOVER PLAN - ADD ON
6/11/2012 Uncle Scrooge 6% 12.50 0.75 INTEREST ROLLOVER PLAN - ADD ON
6/18/2012 cst - - - 4% 11.00 0.44 INTEREST ROLLOVER PLAN
6/19/2012 BitLoan 3% 10.00 0.30 1HshtPD1bSqH4KD9czH2fiNMTJxC6XsxTh
6/30/2012 notawake 0% 100.00 0.00 INTEREST ROLLOVER PLAN
4/7/2012 Anonymous №1 10% 100.00 10.00 1AYoshhS6VLYNWRNX5P6EWxUcrKLr16KLB
4/10/2012 Anonymous №2 10% 50.00 5.00 18fDCUZ9wvcrMFfQogCHar3FE7E5tu95E2
4/11/2012 exahash - 10% 2% 250.00 30.00 1KH1wM55KJe422Uun66T7RC176MLZyKbRn
4/11/2012 geodude - 10% 10.00 1.00 1MJK5LNAdqhyCEeqAnpMjckKaFr8NXtTGu
4/13/2012 Anonymous №4 10% 3% 700.00 91.00 1mCJ9UpGPE8vok8StdobELZrW643tYFiF
5/1/2012 Jonny Heggheim 10% 30.00 3.00 1MRnQVysnF9t91i5UPHsApFh4vRCvBwXux
5/3/2012 Tannke - 10% 1% 440.00 48.40 INTEREST ROLLOVER PLAN
5/6/2012 squirrelman 10% 65.00 6.50 INTEREST ROLLOVER PLAN
5/12/2012 Uncle Scrooge 10% 1% 487.50 53.63 INTEREST ROLLOVER PLAN
5/21/2012 CecilNiosaki 10% 1% 252.25 27.75 INTEREST ROLLOVER PLAN
Mid-Month Deposits:
6/7/2012 Tannke - 8% 120.00 9.60 INTEREST ROLLOVER PLAN - ADD ON
6/11/2012 Uncle Scrooge 6% 12.50 0.75 INTEREST ROLLOVER PLAN - ADD ON
6/18/2012 cst - - - 4% 11.00 0.44 INTEREST ROLLOVER PLAN
6/19/2012 BitLoan 3% 10.00 0.30 1HshtPD1bSqH4KD9czH2fiNMTJxC6XsxTh
6/30/2012 notawake 0% 100.00 0.00 INTEREST ROLLOVER PLAN
BASE RATE INCREASE:
In order to encourage new deposits and reward all depositors for the growth of this program, I would like to announce another increase to the base rate on deposits. As long as there are 2000+ Total BTC Held in Deposits listed on this thread, the base rate will be increased from the original 8% to 12% for all depositors.
The base rate may be lowered back to 8% if Total BTC Held in Deposits fall below 2000 BTC.
In order to encourage new deposits and reward all depositors for the growth of this program, I would like to announce another increase to the base rate on deposits. As long as there are 2000+ Total BTC Held in Deposits listed on this thread, the base rate will be increased from the original 8% to 12% for all depositors.
The base rate may be lowered back to 8% if Total BTC Held in Deposits fall below 2000 BTC.
Requested withdrawal and it was acknowledged within minutes. Along with six confirmations, the entire duration from request to receipt was barely an hour.
I wonder if he sleeps less than Pirate?
I wonder if he sleeps less than Pirate?
I contacted OgNasty and asked to withdraw my Bitcoins from this fund. He responded in a few hours and sent the entire amount to my interest payment address. Thanks for a smooth process.
MONTHLY PAYMENTS SENT:
Interest payments have been sent to depositors for the month of May.
Interest payments have been sent to depositors for the month of May.
Hi OgNasty, I kindly ask you to return the principal sum, because I need it for other purposes.
I look forward to receive your confirmation.
Regards,
Wekkel
MONTHLY PAYMENTS SENT:
Interest payments have been sent to depositors for the month of May.
Interest payments have been sent to depositors for the month of May.
Code:
Depositor Rate Reward Amount Payment Address
Anonymous №1 10% 100.00 10.00 1AYoshhS6VLYNWRNX5P6EWxUcrKLr16KLB
Wekkel - 10% 100.00 10.00 1LUPYsMBBAX937a16cTzMXMbnGv6pEfBPt
miscreanity 10% 10.00 1.00 1LdpVFiqFX7ymHp6AMhrNq8J9PQ5ZSLoeo
Anonymous №2 10% 50.00 5.00 18fDCUZ9wvcrMFfQogCHar3FE7E5tu95E2
exahash - 10% 1% 250.00 27.50 1KH1wM55KJe422Uun66T7RC176MLZyKbRn
chunglam - 10% 1% 250.00 27.50 1AMFex7h8b8TBD5WewZdHTqSQjMG8fiSsF
geodude - 10% 10.00 1.00 1MJK5LNAdqhyCEeqAnpMjckKaFr8NXtTGu
Anonymous №4 10% 1% 700.00 77.00 1mCJ9UpGPE8vok8StdobELZrW643tYFiF
Sturmvogel 10% 50.00 5.00 19qp1bSoi3LqQBSUVomGXGx3i6XfaHuxqj
nathantrumpet 10% 35.00 3.50 17foq9mtyFRK13cKc3aZ81SKKsZ7PSLPHN
drlatino999 10% 100.00 10.00 143epJQzwB5rJCWpQssave4UPuKL75EERi
Jonny Heggheim 10% 30.00 3.00 1MRnQVysnF9t91i5UPHsApFh4vRCvBwXux
iron77 - 10% 300.00 30.00 195TbM1SzZA9HzSaRDeKBiRLf8HzNqkGww
Tannke - 10% 400.00 40.00 INTEREST ROLLOVER PLAN
Timbo925 10% 20.00 2.00 1AYWHj7BNDwfvCpQ4rqM3BhMipmZUe3pUj
squirrelman 10% 50.00 5.00 INTEREST ROLLOVER PLAN
Mid-Month Deposits:
drlatino999 5% 40.00 2.00 143epJQzwB5rJCWpQssave4UPuKL75EERi
Uncle Scrooge 5% 250.00 12.50 INTEREST ROLLOVER PLAN
Anonymous №5 5% 100.00 5.00 1GyocUADnTd5aZRRrNLGFTVXNiyaacpPQm
Buckwheet 5% 50.00 2.50 17Ge71XYfHKFC7Lzkq7fs5RwerPEEaySqR
CecilNiosaki 3% 75.00 2.25 INTEREST ROLLOVER PLAN
Anonymous №1 10% 100.00 10.00 1AYoshhS6VLYNWRNX5P6EWxUcrKLr16KLB
Wekkel - 10% 100.00 10.00 1LUPYsMBBAX937a16cTzMXMbnGv6pEfBPt
miscreanity 10% 10.00 1.00 1LdpVFiqFX7ymHp6AMhrNq8J9PQ5ZSLoeo
Anonymous №2 10% 50.00 5.00 18fDCUZ9wvcrMFfQogCHar3FE7E5tu95E2
exahash - 10% 1% 250.00 27.50 1KH1wM55KJe422Uun66T7RC176MLZyKbRn
chunglam - 10% 1% 250.00 27.50 1AMFex7h8b8TBD5WewZdHTqSQjMG8fiSsF
geodude - 10% 10.00 1.00 1MJK5LNAdqhyCEeqAnpMjckKaFr8NXtTGu
Anonymous №4 10% 1% 700.00 77.00 1mCJ9UpGPE8vok8StdobELZrW643tYFiF
Sturmvogel 10% 50.00 5.00 19qp1bSoi3LqQBSUVomGXGx3i6XfaHuxqj
nathantrumpet 10% 35.00 3.50 17foq9mtyFRK13cKc3aZ81SKKsZ7PSLPHN
drlatino999 10% 100.00 10.00 143epJQzwB5rJCWpQssave4UPuKL75EERi
Jonny Heggheim 10% 30.00 3.00 1MRnQVysnF9t91i5UPHsApFh4vRCvBwXux
iron77 - 10% 300.00 30.00 195TbM1SzZA9HzSaRDeKBiRLf8HzNqkGww
Tannke - 10% 400.00 40.00 INTEREST ROLLOVER PLAN
Timbo925 10% 20.00 2.00 1AYWHj7BNDwfvCpQ4rqM3BhMipmZUe3pUj
squirrelman 10% 50.00 5.00 INTEREST ROLLOVER PLAN
Mid-Month Deposits:
drlatino999 5% 40.00 2.00 143epJQzwB5rJCWpQssave4UPuKL75EERi
Uncle Scrooge 5% 250.00 12.50 INTEREST ROLLOVER PLAN
Anonymous №5 5% 100.00 5.00 1GyocUADnTd5aZRRrNLGFTVXNiyaacpPQm
Buckwheet 5% 50.00 2.50 17Ge71XYfHKFC7Lzkq7fs5RwerPEEaySqR
CecilNiosaki 3% 75.00 2.25 INTEREST ROLLOVER PLAN
UPDATE:
- Reserve Account has been increased to 50 BTC.
- Deposits are now allowed at any time during the month.
- Reinvesting interest is now allowed, PM me to signup.
I'm accepting new deposits through Monday to receive a 5% interest payment on June 1st if anyone is interested.
Pm'd It's been about a month now, and the reserve fund has been at 1% of deposits for the whole period. I know you don't want to specify a timeline for moving to a higher number, but right now these are basically uncovered loans. Is there any further news on plans to cover more than 1% of deposits in case Pirate defaults?
Deposits have been rising and I place the full deposit in my BS&T account, so it is not like I take 1% from each deposit and put it in the reserve fund. After 1 month, from the very first deposit, I've built a 30 BTC reserve. That amount will continue to rise and is not pegged to a %. Now that we have a 2000+ BTC balance, that will enable the reserve fund to grow more quickly. I will admit I have been focusing more on providing a higher base rate and interest rate loyalty rewards than building the reserve fund.
It's been about a month now, and the reserve fund has been at 1% of deposits for the whole period. I know you don't want to specify a timeline for moving to a higher number, but right now these are basically uncovered loans. Is there any further news on plans to cover more than 1% of deposits in case Pirate defaults?
Deposit of 50btc just sent.
A little off topic, but since it was brought up.
Timbo925, You do nice work. I like the ones you submitted for Pir8 also.
Timbo925, You do nice work. I like the ones you submitted for Pir8 also.
Thanks
A little off topic, but since it was brought up.
Timbo925, You do nice work. I like the ones you submitted for Pir8 also.
Timbo925, You do nice work. I like the ones you submitted for Pir8 also.
Congratulations to all depositors, as we have surpassed 2,000 BTC in deposits and the base rate has been increased to 10%! We also got a shiny new logo courtesy of Timbo925.
The politically correct term here is "Sweet."
Congratulations to all depositors, as we have surpassed 2,000 BTC in deposits and the base rate has been increased to 10%! We also got a shiny new logo courtesy of Timbo925.
Interest payment received.
Got 6% instead of 8% ?
Take a look at the agreement you approved. You only received 6% because your deposit was only held for 3/4s of the month (interest rate period). Let me know if you have any concerns and I'd be happy to address them for you. Rest assured you will receive the full 8% on June 1st.
The stupid, it burns...
Got 6% instead of 8% ?
Take a look at the agreement you approved. You only received 6% because your deposit was only held for 3/4s of the month (interest rate period). Let me know if you have any concerns and I'd be happy to address them for you. Rest assured you will receive the full 8% on June 1st.Are you still taking deposits?
Yes, I am still accepting larger deposits. PM me if you're interested. 
Are you still taking deposits?
Got 6% instead of 8% ?
Interest payments have been sent. Thank you to all my depositors.
30 BTC sent, transaction: http://blockexplorer.com/tx/e6126d3e2416776801e0c2e66913ae1d1c90e1d2d9ff2607e8b677bc03973788
I've sent out 0.01 BTC test payments to all depositors. If you did not receive a 0.01 BTC test payment, you have about 20 hours to let me know before interest payments are sent. If you did receive the test payment, all is well and you will receive your interest payment tomorrow.
Received test payment.
I've sent out 0.01 BTC test payments to all depositors. If you did not receive a 0.01 BTC test payment, you have about 20 hours to let me know before interest payments are sent. If you did receive the test payment, all is well and you will receive your interest payment tomorrow.
Received.
I've sent out 0.01 BTC test payments to all depositors. If you did not receive a 0.01 BTC test payment, you have about 20 hours to let me know before interest payments are sent. If you did receive the test payment, all is well and you will receive your interest payment tomorrow.
Received your test payment, thanks for your effort
I've sent out 0.01 BTC test payments to all depositors. If you did not receive a 0.01 BTC test payment, you have about 20 hours to let me know before interest payments are sent. If you did receive the test payment, all is well and you will receive your interest payment tomorrow.
Mod note: this account has been compromised. Do not send BTC to any recently-posted addresses.
Thanks for the heads up.
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
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.
Mod note: this account has been compromised. Do not send BTC to any recently-posted addresses.
Thanks for the heads up.
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
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
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.
So, basically, this is all profit no risk for you?
I would argue that I'm risking my profits.
So, basically, this is all profit no risk for you?
I would argue that I'm risking my profits.
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? 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.
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.
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.
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.
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.
Additional 50 BTC sent, bitcoin transaction: eb16855c3ccc5dedc54c008ce4f73963f12795ce6b9ce27f8f3fddb2d1fe1125
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.
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.
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.
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?
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.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.
Thanks for the reply. I try to manage my risk and this is helpful. PM sent!
200 BTC sent, transaction: http://blockchain.info/tx-index/3840037/e41a1cf216655f1251329c1d34185213a1d69c75529bf9a296f735234c1ebb0c
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.
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.
Hi there OgNasty, found your posts in the Pirate thread - took a couple of days to finish reading through it all
@OgNasty, thanks for the clarification
@Wekkel, sure know that
(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, sure know that
(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.
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
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?
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.
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
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?
RESERVE FUND:
A Reserve Fund has been established to provide depositors with insurance against loss of deposits. In the event of a Bitcoin Savings & Trust failure, the Reserve Fund will be paid out to depositors, proportionately to their deposits held as listed on this thread.
A Reserve Fund has been established to provide depositors with insurance against loss of deposits. In the event of a Bitcoin Savings & Trust failure, the Reserve Fund will be paid out to depositors, proportionately to their deposits held as listed on this thread.
Is there a min? any fees?
Entered into agreement for 100 BTC.
REFERENCES:
+1 to OgNasty, Excellent buyer, superb communication and sent payment right away! Will do business again!
OgNasty sold me a $100 Amazon Gift card. It worked perfectly!
+1 for OgNasty
+1 OgNasty - Sold $25 dollar ebay card
+1 to OgNasty he sold a $100 Amazon card for 8.5 BTC to me
Just did business with OgNasty and have received funds as promised. Nice!
+1 to OgNasty for a successful trade
+1 for OgNasty Sold me a 5970, easy to work with
+1 for OgNasty sold him a gift card and he paid me after I sent him the card number and pin
+1 OgNasty, payed on receipt of items.
+1 OgNasty paid after I sent first
Received it, thanks! Great transaction with OgNasty
Thanks for a smooth process.
I wonder if he sleeps less than Pirate?
OgNasty was very helpful setting up my account, and he took care of me right away. Thanks for the great service.
OgNasty has yet to fail in paying out consistently.
+1 OgNasty - Another honest bitcoiner!
EARN MONTHLY INTEREST ON YOUR BITCOIN DEPOSITS
I reserve the right to refuse or return deposits from anyone, at any time, for any reason.
Monthly Interest Rate: 0%
BTC Held in Deposits: 0 BTC
BTC Held in Reserve Fund: PAID OUT
I reserve the right to refuse or return deposits from anyone, at any time, for any reason.
Monthly Interest Rate: 0%
BTC Held in Deposits: 0 BTC
BTC Held in Reserve Fund: PAID OUT
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