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Topic: Why I used to trust Patrick Harnett - page 7. (Read 32646 times)

sr. member
Activity: 252
Merit: 250
September 08, 2012, 01:24:52 AM
However, I truly hate to see Patrick's name being drug through the mud.

When you run a high-profile "credit-rating" and "investment" operation without explaining what is going on and failing to answer simple questions, you must expect your reputation to suffer.

FWIW, I don't think for a second think he is scamming anybody. I know everybody said the same thing about Pirate, but I believe that 1% a week (R.I.P. Starfish Sad ), as outrageous an IRL rate as it may be, is very manageable given what I've gathered about the lending economy here. For now, at least. Of course it isn't (wasn't) risk-free, but Patrick seems intent on treating his depositors right, even when it costs him.

Why anyone (besides a miner) would borrow bitcoins is beyond me, though. Scary bull market is scary.

"Ourageous" yet "very manageable."  Huh What is it about bitcoin that makes people suspend all disbelief and take on magical, pixie dust thinking?

Look, the reality is simple but ugly: the "lending economy" here is a cesspool of scams.
donator
Activity: 1218
Merit: 1015
September 08, 2012, 01:24:28 AM
This isn't a boxing match, and the opponent isn't exerting himself. Y'all can't tire him out by letting him continue to punch at you, heh.

You're right. It's hard to stay detached/neutral though when someone is shitting on your husband. I will try however.
Interesting mental image.
newbie
Activity: 56
Merit: 0
September 08, 2012, 01:22:28 AM
This isn't a boxing match, and the opponent isn't exerting himself. Y'all can't tire him out by letting him continue to punch at you, heh.

You're right. It's hard to stay detached/neutral though when someone is shitting on your husband. I will try however.

P.S: must be the ''Cleveland Steamer'' act....
sr. member
Activity: 252
Merit: 250
September 08, 2012, 01:14:51 AM

If you met me face to face you would not accuse me of ''feigned fragility''. Do you understand that the more you are toxic on this forum, the less the people you want to hear from will post? You have lost Starfish for starters: he has had enough.

The more you evade the simple questions with distractions, the more obvious your shilling becomes.

The questions remain, and there is only one plausible explanation. You certainly aren't offering an alternative.
newbie
Activity: 56
Merit: 0
September 08, 2012, 01:13:01 AM
Maybe his profits aren't that great. Nor are those of his lendees, if you take into account all the risks attached... Maybe that's precisely the point that they are realizing now...
So now the theory is that he is doing all of this work and taking all of this risk, and all he's getting for it is miniscule profits? This again boils down to him being an idiot.

I've just reported you for being abusive. Maybe one day the moderators here will actually clean up this forum and make it a place anyone can post without being abused. Shame on you.
How is that abusive exactly? I'm not saying he is an idiot. I'm saying that argument boils down to arguing that he's an idiot. Obviously, it's an argument I don't accept.

What is abusive, however, is calling other people abusive to shut them up or make them feel or look bad. And telling people you're reporting them to the mods to silence a view you disagree with is bullying. I don't think anyone finds your feigned fragility convincing.

You are the most detestable individual I have ever come across on the internet
newbie
Activity: 56
Merit: 0
September 08, 2012, 01:11:17 AM
Joel... you're being an argumentative asshole. Patrick is willing to provide ample personal information to anyone depositing with him which provides plenty of recourse should anything happen. Why not troll some where else?
I'm not being argumentative. I'm only repeating the same argument because I have yet to get any rational response to it. My point has nothing to do with his personal information or recourse. People had Madoff's personal information and he appeared to have large assets that would provide recourse. All of that is just not relevant. People think that someone can't be a criminal just because they know them. Well, guess what, criminals don't live in cement cages they do not leave, at least not before they're caught. Scammers know how to convince people they are ordinary, trustworthy folks. And many criminals don't care to hide their identity -- especially since nobody has yet been prosecuted for a Bitcoin-related theft.

But more importantly, my point is that there is no known explanation for how he could be doing what he claims to be doing other than that it's a scam. And there is no imaginable other explanation for why he would need or want a constantly increasing supply of other people's money at exorbitant interest rates.

There is simply no way a rational businessman would take all this risk and pay such high rates unless he was making a significant profit. And the first thing a rational businessman would do when making a significant profit is pay off his absurdly-high interest debts. And if the risk is high and he nevertheless had the funds to cover losses, the most rational think to do with those funds would be to loan them and thereby get rid of his high-interest debt. No rational person would have $50,000 in a bank account and still borrow the equivalent of $50,000 in BTC at exorbitant rates.

The only known explanation is that it's a scam.

Do you have some kind of response to this argument? Or are you trolling?


What the hell is your problem? Do you think you are intellectually superior to everyone else? Is your life so miserable that you devote pages of ranting to a service you aren't even invested in?

+1
newbie
Activity: 56
Merit: 0
September 08, 2012, 01:07:10 AM
Maybe his profits aren't that great. Nor are those of his lendees, if you take into account all the risks attached... Maybe that's precisely the point that they are realizing now...
So now the theory is that he is doing all of this work and taking all of this risk, and all he's getting for it is miniscule profits? This again boils down to him being an idiot.

I've just reported you for being abusive. Maybe one day the moderators here will actually clean up this forum and make it a place anyone can post without being abused. Shame on you.
How is that abusive exactly? I'm not saying he is an idiot. I'm saying that argument boils down to arguing that he's an idiot. Obviously, it's an argument I don't accept.

What is abusive, however, is calling other people abusive to shut them up or make them feel or look bad. And telling people you're reporting them to the mods to silence a view you disagree with is bullying. I don't think anyone finds your feigned fragility convincing.

If you met me face to face you would not accuse me of ''feigned fragility''. Do you understand that the more you are toxic on this forum, the less the people you want to hear from will post? You have lost Starfish for starters: he has had enough.
sr. member
Activity: 336
Merit: 250
September 08, 2012, 12:58:37 AM
I don't think anyone finds your feigned fragility convincing.

Sad
legendary
Activity: 1316
Merit: 1000
Si vis pacem, para bellum
September 08, 2012, 12:57:36 AM
Joel... you're being an argumentative asshole. Patrick is willing to provide ample personal information to anyone depositing with him which provides plenty of recourse should anything happen. Why not troll some where else?

personal information is about as useful as yellow snow when an investment defaults
Pirate has had all his details published multiple times and even  sat in the same room with people a few weeks before his "investment defaulted" scammed   everybodys money

its like pirate part 2 , why does anyone  need to borrow money at crazy rates if you are capable of making insane profits ??

joel is being attacked for asking very standard questions about the security of an investment by a few supporters of said investment

does any of this sound familiar yet ?

legendary
Activity: 1596
Merit: 1012
Democracy is vulnerable to a 51% attack.
September 08, 2012, 12:55:48 AM
What the hell is your problem? Do you think you are intellectually superior to everyone else? Is your life so miserable that you devote pages of ranting to a service you aren't even invested in?
If you're not going to respond to me, please don't pretend to.

I explained what my problem is. Here it is again in case you missed it even though you quoted it:

Quote
There is simply no way a rational businessman would take all this risk and pay such high rates unless he was making a significant profit. And the first thing a rational businessman would do when making a significant profit is pay off his absurdly-high interest debts. And if the risk is high and he nevertheless had the funds to cover losses, the most rational think to do with those funds would be to loan them and thereby get rid of his high-interest debt. No rational person would have $50,000 in a bank account and still borrow the equivalent of $50,000 in BTC at exorbitant rates.

If you have a rational response to that argument, I'd love to hear it.
legendary
Activity: 924
Merit: 1000
Think. Positive. Thoughts.
September 08, 2012, 12:53:28 AM
Joel... you're being an argumentative asshole. Patrick is willing to provide ample personal information to anyone depositing with him which provides plenty of recourse should anything happen. Why not troll some where else?
I'm not being argumentative. I'm only repeating the same argument because I have yet to get any rational response to it. My point has nothing to do with his personal information or recourse. People had Madoff's personal information and he appeared to have large assets that would provide recourse. All of that is just not relevant. People think that someone can't be a criminal just because they know them. Well, guess what, criminals don't live in cement cages they do not leave, at least not before they're caught. Scammers know how to convince people they are ordinary, trustworthy folks. And many criminals don't care to hide their identity -- especially since nobody has yet been prosecuted for a Bitcoin-related theft.

But more importantly, my point is that there is no known explanation for how he could be doing what he claims to be doing other than that it's a scam. And there is no imaginable other explanation for why he would need or want a constantly increasing supply of other people's money at exorbitant interest rates.

There is simply no way a rational businessman would take all this risk and pay such high rates unless he was making a significant profit. And the first thing a rational businessman would do when making a significant profit is pay off his absurdly-high interest debts. And if the risk is high and he nevertheless had the funds to cover losses, the most rational think to do with those funds would be to loan them and thereby get rid of his high-interest debt. No rational person would have $50,000 in a bank account and still borrow the equivalent of $50,000 in BTC at exorbitant rates.

The only known explanation is that it's a scam.

Do you have some kind of response to this argument? Or are you trolling?


What the hell is your problem? Do you think you are intellectually superior to everyone else? Is your life so miserable that you devote pages of ranting to a service you aren't even invested in?
donator
Activity: 1218
Merit: 1015
September 08, 2012, 12:51:50 AM
This isn't a boxing match, and the opponent isn't exerting himself. Y'all can't tire him out by letting him continue to punch at you, heh.
legendary
Activity: 1596
Merit: 1012
Democracy is vulnerable to a 51% attack.
September 08, 2012, 12:50:39 AM
Maybe his profits aren't that great. Nor are those of his lendees, if you take into account all the risks attached... Maybe that's precisely the point that they are realizing now...
So now the theory is that he is doing all of this work and taking all of this risk, and all he's getting for it is miniscule profits? This again boils down to him being an idiot.

I've just reported you for being abusive. Maybe one day the moderators here will actually clean up this forum and make it a place anyone can post without being abused. Shame on you.
How is that abusive exactly? I'm not saying he is an idiot. I'm saying that argument boils down to arguing that he's an idiot. Obviously, it's an argument I don't accept.

What is abusive, however, is calling other people abusive to shut them up or make them feel or look bad. And telling people you're reporting them to the mods to silence a view you disagree with is bullying. I don't think anyone finds your feigned fragility convincing.
sr. member
Activity: 336
Merit: 250
September 08, 2012, 12:42:41 AM
It was never "constantly increasing," for one.
legendary
Activity: 1596
Merit: 1012
Democracy is vulnerable to a 51% attack.
September 08, 2012, 12:31:11 AM
Joel... you're being an argumentative asshole. Patrick is willing to provide ample personal information to anyone depositing with him which provides plenty of recourse should anything happen. Why not troll some where else?
I'm not being argumentative. I'm only repeating the same argument because I have yet to get any rational response to it. My point has nothing to do with his personal information or recourse. People had Madoff's personal information and he appeared to have large assets that would provide recourse. All of that is just not relevant. People think that someone can't be a criminal just because they know them. Well, guess what, criminals don't live in cement cages they do not leave, at least not before they're caught. Scammers know how to convince people they are ordinary, trustworthy folks. And many criminals don't care to hide their identity -- especially since nobody has yet been prosecuted for a Bitcoin-related theft.

But more importantly, my point is that there is no known explanation for how he could be doing what he claims to be doing other than that it's a scam. And there is no imaginable other explanation for why he would need or want a constantly increasing supply of other people's money at exorbitant interest rates.

There is simply no way a rational businessman would take all this risk and pay such high rates unless he was making a significant profit. And the first thing a rational businessman would do when making a significant profit is pay off his absurdly-high interest debts. And if the risk is high and he nevertheless had the funds to cover losses, the most rational think to do with those funds would be to loan them and thereby get rid of his high-interest debt. No rational person would have $50,000 in a bank account and still borrow the equivalent of $50,000 in BTC at exorbitant rates.

The only known explanation is that it's a scam.

Do you have some kind of response to this argument? Or are you trolling?
newbie
Activity: 56
Merit: 0
September 08, 2012, 12:30:59 AM
Maybe his profits aren't that great. Nor are those of his lendees, if you take into account all the risks attached... Maybe that's precisely the point that they are realizing now...
So now the theory is that he is doing all of this work and taking all of this risk, and all he's getting for it is miniscule profits? This again boils down to him being an idiot.

I've just reported you for being abusive. Maybe one day the moderators here will actually clean up this forum and make it a place anyone can post without being abused. Shame on you.
legendary
Activity: 1596
Merit: 1012
Democracy is vulnerable to a 51% attack.
September 08, 2012, 12:26:06 AM
Maybe his profits aren't that great. Nor are those of his lendees, if you take into account all the risks attached... Maybe that's precisely the point that they are realizing now...
So now the theory is that he is doing all of this work and taking all of this risk, and all he's getting for it is miniscule profits? This again boils down to him being an idiot.
newbie
Activity: 56
Merit: 0
September 08, 2012, 12:22:53 AM
Joel... you're being an argumentative asshole. Patrick is willing to provide ample personal information to anyone depositing with him which provides plenty of recourse should anything happen. Why not troll some where else?

+1
legendary
Activity: 1400
Merit: 1009
September 08, 2012, 12:21:22 AM
Joel... you're being an argumentative asshole.
Yet nobody will answer his very simple question. The only responses have been evasions, smokescreens, and personal attacks.
legendary
Activity: 924
Merit: 1000
Think. Positive. Thoughts.
September 08, 2012, 12:07:47 AM
#99
Joel... you're being an argumentative asshole. Patrick is willing to provide ample personal information to anyone depositing with him which provides plenty of recourse should anything happen. Why not troll some where else?
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