Topic: Who Pays What? - page 7. (Read 36785 times)

Like everyone else I will be looking to park my coins later today if Pirate pays out.

I am really hoping you will have some space in either your 1% offering or your Kraken fund.

I don't have the right mix of contacts.  Plus there are some other things that enabled him to execute efficiently.  Even if my conclusions are wrong about what P@40 was doing, it doesn't prevent it from being done.

Anyway, back on topic, working my way through the lending section - deposit offerings are pretty scarce.

Are you suggesting that you might start a business similar to what Pirate was doing?

I would like to provide some insight into what was going on as I mapped out the mechanics of what I thought was going on to Pirate last week.  It had taken me a while to work out the money flows, and he confirmed that I had it pretty much straight.  For the doubters, they would say he was simply lying and stringing me along, but that could be said of most people on the forum. 

As for disclosing it, I do not consider it my place to do that.  It was something confidential I discussed with someone, and it stays that way until Pirate wishes to make it public.  There is nothing stopping me from duplicating it, and it's not illegal at all, but it would take a lot of time and effort.  I am sure Pirate is happy to be winding it up and being able to get away from it for a while.

Also, not all PPTs are gone, I still have one, just with zero volume until I work out a reincarnation for it.

Anyway, as I wasted most of yesterday, I didn't re-do the OP - I'll do some work on that now.

thanks Pattrick for your quick answer and visionary staying abilities and qualities in bitcoin community.
may i ask you what kind of reference you take into account for your ratings?

that gives me a real bad taste as it compares very much to the head of the crooks in dollar ponzi ( moodys, layman broke and fitch)
we all know what kind of conflicting interests arrouse from this.

as we are still a community i would love that the peer to peer spirit stays alive after the centralizing effects of BCST, Bitcoinmax,  PPTs are gone
for good now..

would you mind to explain your insights of pirate mechanics as to have a handle for the fallout?

Thanks Zyk

+1

Just wanted to say thanks a lot for this thread Patrick - as I'm sure you know, there are many of us who really appreciate all the effort you put into it so please don't let the shills get you down. The FUD slinging certainly did reach epic proportions lately but I have no doubt that the community will just strengthen and continue to get better thanks to committed members such as yourself.

I have received payments from the reliable people that I choose to invest with, and am still within limits on the deposits I manage (Starfish has about 17k paying 1%/wk).  What happens over the next week will be interesting.

Also - I'll be working on the OP today - it'll take a few hours.

Who pays what ?    Would be surprised if anybody pays anything if pirate ain´t paying    or is everybody honoring his commitments without fingerpointing?

Speculative answers about independent trustworthyness would be very much appreciated

Cheers Zyk

+1

I do know the US Federal Reserve reduced interest rates, and printed a whole lot of money.  I have also seen that with a positive birth-rate, the USA is one of the few countries that was considered to be able to breed their way out of debt (sorry, I can't find the reference).  Some great pyramid/ponzi characteristics there, but that's been done to death elsewhere. 

Back to the regular scheduled programme.

ok, he doesn't at last. 

Don't know, nor particularly do I care.  In the local finance market it wasn't the collapse of companies that was worst, it was the simple lack of diversity of investments.  Retired people by their hundreds and thousands put 100% of their money into just one thing.  When they went pop - their retirement was ruined.

The point about interest rates is not one of a normal business or inflationary cycle, but one of moving from an accelerated economy to one that behaves more efficiently.

ha, i should have kept my copy from when i did the same thing... i wonder if it was from the same person.

Come on, people, do you really think that in this world some one would ever pay you risk free over 1% a month?
Most of us dont have enough funds to live only on interest in common world, thats why we invest our money here. Most likely most of us wont be able to get even 20% a month on our funds doing business, which involves very high risk of loosing your funds.
So WHY are whine about all this shit? The mote you risk the more you get, thats how it works, there is no other way. Don`t wont your funds get stolen, go to the Bank, usual one, and may be you will get your funds back in a year(but u also take some risks). Look, in the real world Facebook investors have managed to loose 50% of their invested money, no one is saying that Mark is a scammer, this is how it all works. I`m really

It's just a question, I really don't know (or I'm too lazy to research), and it's in context here because @PatrickHarnett mentioned lowering interest rates.

It does not make direct sense for a Ponzi after all, only as a stunt to pretend legitimacy of the business. But even then, it's a dangerous endeavor, because it would cause many people to withdraw. A Ponzi operator may rather choose at that point in time to run away instead of lowering interest rates.

oh god please I bed you all don't go and poison this thread as well with FUD and witch hunting enough is enough. This is like the only thread that's free of such things.
Bring it somewhere else please!
//DeaDTerra

Did Madoff or the like reduce interest rates at any point?

Basically there are some people that put a huge amount of effort into bitcoin.  The WPW thread and the work that goes on behind the scenes is one of those, and the tide of people accusing everyone in the lending scene is to a significant detriment to the forum and bitcoin as a whole.  The Starfish deposits system is around break-even and probably gets subsidised from the dividends and mining I do, but I consider it important to have space open for people wanting to park a few coins with low risk.  As for my own situation, personally, the idea of running away with $1M is silly - it's really not enough and I have other objectives.  (I think I'm close to that in my local currency, whatever 60k coins is - and I am well past the point where I have recovered all of my seed money).

I have noticed there are some accounts where the sole purpose is to cry "ponzi" and scam for months and sometime years on end (ages before Micon joined the party late).  This week I have been accused of being a scammer, "shit", a criminal and someone that deserved to be put in jail.  I get off lightly, but others are labelled shills, pirate prostitutes and many other things without proof.  (I still have the pm where I was offered 100BTC for a referral that I turned down.)

Maged, the moderator for this part of the forum, might be justifiably concerned about the impact of BS&T but has landed quite heavily on one side of the debate and this comes through in the treatment of those working to provide a range of services.  I have previously pointed out some basic ID details for him, and others late to the witch-hunt (and I am reminded on Joel's beautiful comment yesterday that is pure "group think" - "don't think outside the box") have not bothered to do their basic homework.  I was, however, pleased to note a quite rational post from Micon so obviously he is learning some stuff about bitcoin along the way.

There are some schemes where I have inside knowledge, provided on a confidential basis.  I also hold information on many users, also provided confidentially.  Myself, if you don't know who I am down the the colour of my house/car/cat you're not even trying (actually the cat could be tricky).  I am not going to "spill the beans", as my approach is more subtle.  That includes BS&T as I know (and have had confirmed) the mechanics that allow such fantastic returns and could implement it on a smaller scale, but there are actually better returns if you know how. 

Months ago I signalled to several people that the interest rates in this economy would fall.  Pirate has done exactly what many other have done and has begun his process, but he's certainly not the first to do that.  They will fall further, as will the rates Starfish and all other legitimate providers.  Bitcoin is a great example of an accelerated economic history, and a great textbook example to learn from.  As such, it is quite interesting working within an economics consultancy where I can discuss the evolving concepts in months rather than years/decades.  As such, I'll have a lot more work to do on this thread over the next year.

So for the detractors: I hope you do not get your wish in killing bitcoin, and I am pleased to provide and protect the intent behind PPT.x and a range of other things you consider criminal.
For the hundreds of people I deal with: I have two weeks away from my day job to work on my website, otherwise, you know how to contact me.

The skull and cross bones of bitcoins