Bitcoin Forum

There's a reason why certain people refused to EVER talk about USD in reference to Bitcoin with his Lenders.
Bitcoin was ALWAYS Bitcoin and nothing more.....NEVER translating into a discussed amount of US Dollars.

Ever wonder how long it will take to virtually (well, literally) suck the economic life out of Bitcoin ? My guess is 2 weeks.

I for one am looking forward to an increase in my invested Bitcoins of 7% at the cost of 50% of their USD value.

HOW COULD I BE SO FUCKING STUPID ?

Speaking too soon mate.

I think I'll remember this funny days for ever, extremely entertaining.

1 BTC worth 100$ on entrainment value alone.

.....and $5 USD value in a week and a half.

buttcoin.org closed way to soon. comedy gold lately.

We should start a few new ponzis one denominated in carrots and another one  denominated in psychic powers.

wait we need one in popcorn!

Pirate@40 - 200 years too late  =  Vampire@30 - Right on time....

Where can I buy popcorn futures ?

I'll sell you some if you first send me your bitcoins....lol.... ;)

I only have carrots.

Damn :D

Mining stocks should be a lot more valuable  :)

Hmm, bitlane, so you think he can cycle the BTC price on MtGox enough in 2 weeks to get enough bitcoins to fully reimburse? I guess it is the ultimate sucker test if he can get people to sell 10000s of bitcoins at a low price he created. Personally, I'd just hold onto my BTC if it dips too low during the official Pirateat40 closing period. Heck other people might be willing to buy in and take advantage of the rise in volume trading.

This is assuming pump and dump cycling is his plan for reimbursement as you are intimating. It would definitely fit the psychology of someone who thinks they control the market.

This is 100%

He will use the following week(s) to increase his personal holdings in BTC while paying back investors using pump/dump market moves.
We all know he is UP 30+% already, so all it takes is a bit more panicking to sell further coins, right into his hands.

http://www.ohakune.info/whyohakune/carrot-capital.php

so take money from lenders.
sell the bitcoins for usd.
price keeps going up the whole time.
now you have usd but very hard to get btc to pay back with.
so use personal stash of btc or whatever is left from last deposits to drive price down.
manage to get price down from high of 15 to about 11
now you have even more usd
yet to purchase just a measily 500 btc will raise price of btc to 11.20 let alone 100K of btc which will bounce price past 14 easy

this does not compute

so you must have had bids waiting.. yet price has not gone down below 10 yet.
i doubt he sold all that btc at > 10 over the last months since price was only above that for a month now.

this does not compute either

so i am confused here. how does one get enough btc to pay everyone back at this point?

conclusion.. must have a lot of btc already and any attempt to crash market is an attempt to just get more.

Follow the SA thread.  We've been watching this fiasco and mining the comedy gold. 

I'm counting on it, ;)

Nahh I read a bit that thread and changed my mind, those guys are even more ignorant than most of worst idiots here. They got the ponzi thing right, however.

I was wrong. It only took 2 days, not 2 weeks.

I wouldn't call hovering around $8 as sucking the life out of Bitcoin.

Bitcoin is backed by comedy gold, didn't you know.

Good to know you only think short term, bitlane.

yah @ 8 and suck the life out, really. I remember when I got my first coins last December around $3. Show me some real world investments with 266.7% return in 9 months.

Welcome to PANDATECH GLOBAL


Right now our current commodities and exchnage rates are as follows.

1 Carrot = 2 Poprcorn Kernels
10 Popcorn Kernels = 1 BTCS&T Share
10 BTCS&T Shares = 1 BTC

Taken orders in slips like old skool NYSE trading floor.

Hand me yellows for OTC buys and blues for OTC sells.
Green for OTC exchnages.


ding ding ding ding ding

Depending on what percentage of today's volume is Pirateat40, he may have already blown through quite a large bit of his BTC stash. Not looking good for anyone hoping to be repaid through market manipulation. This might make good analysis for market watchers.

Reinforcing my opinion that anyone who writes about how Bitcoin must somehow merge with governments to purge all scams and cons is an idiot: http://business.gather.com/viewArticle.action?articleId=281474981557391 (http://business.gather.com/viewArticle.action?articleId=281474981557391) http://myfox8.com/2012/08/17/62674/ (http://myfox8.com/2012/08/17/62674/)

Just a small example of the stuff that goes on in government backed currencies. The CEO so far has just paid $4 million on a $600 million scam, no charges announced yet, rofl. If Pirateat40 does turn out to not have the funds to reimburse, he'll still be small fry compared to USD and many other currencies.

The example you're using is a tiny fraction of the USD market. Pirate owns 6% of bitcoins in circulation, not to mention the current market volumes.

I'm not trying to disagree about whether these should be illegal/forcibly discouraged in Bitcoin's context, but I cannot find any justification for it.

It's pretty damn obvious that those who are planning on getting coins back from pirate are already selling their existing reserves in order to get the maximum payout before all the other payout recipients dump their coins.

It's a race to the bottom.

If they were smart they would've sold already on friday, right after the announcement ;)

Yes, but demonstrating that government regulation is not a quick fix. IMO, stable or at least predictable pricing and how people throwing BTC at HYIP affects this is a much more important topic.

Vigilante Justice will prevail EVERY time.

Who's in for a Bitcoin Convention in Texas ?
I hear that the North Eastern Texas scenery is quite nice this time of year.

You know what they say about Texas: "....come for the Dive Instruction, stay for the Piano Lessons....."

We can discuss and set a final date over the next week or 2.

See you all there.

You think he'd stick around when people know where he sleeps if it ends up being a scam? But I have a sailboat and very familiar with Caribbean and central/south america, available for hire :)

Live and learn...

What do you mean IF ? Do you not realize WHAT he is doing ?

Make some free money then ponzi trolls:  https://bitcointalk.org/index.php?topic=101751.0

Looking forward to seeing your bets in that thread, considering you're so sure and all

You are a fucking retard.

NO U

Back to Mom's basement. Let the big people chat before you get hurt.

Please explain your logic. Paying everyone back is a scam? I'd say YOU are the "fucking retard", if you think that. You have no proof of WHO is doing any manipulation - and anyways it feels very much like stupid scared "investors"  panicking.

Lol :D  Might be time for a username change bitlane, not sure you'll get much done with this one now that everyone knows you're a dunce ;)

You can't panic if you have your coins locked up out of your control....LOL

Um...what endgame?  You mean the endgame for bitcoin?  Are you 4 realz?

Let it fly down to $2 again.  You know what will happen when it does?  The same thing that happened when it hit $2 last time.  And we're all going to make money.

Worst case scenario:  Pirate dumps 300k more BTC and we'll shoot downward and profit like mad when it bounces back up and reascends.

Best case scenario:  ^^

Neutral scenario:  A healthy correction which is what is going on now.  $15 was ridiculous.  $8 is pretty, and RSI is indicating that we're oversold. 

@ Bitlane:  At least LTC is back up a bit.  You should cash out some of those LTC you were holding.  When BTC goes back up, LTC will go back down.

Are you admitting that you are stupid enough to trust THE ENTIRETY of ALL your coins to any one single entity? Have you ever heard of "risk management"?

What else to say... maybe just "Get the water nigga, It's goin' DOWN!"
http://www.youtube.com/watch?v=_494Y0CM04s (http://www.youtube.com/watch?v=_494Y0CM04s)

That's pretty much all I have left...lol
I dumped before the crash last year, about $10k worth of equipment using BTC a few months ago and that measly amount is all I have left...LOL

So yes, my BTC 'eggs' are all in Pirate's basket...LMAO

I believe Bitlane is referring to the fact that pirate took advantage of the very people he was borrowing from "in terms of USD". The people who pirate is actually making money from are the people lending to him, and because he controls the coins they give him when they want to sell (after he has already sold them), releasing them out slowly is what's allowing him to reap maximum USD and return worthless BTC, as he promised. Bitlane has realized this, that in terms of USD, he's losing out.

Is it a scam? I don't know if you can really call it that, but the ones who get their coins back last are the ones paying it in terms of USD, because knowing people follow technical analysis allows one to manipulate the graphs at "trigger points", upon which the market will self-fulfill quite happily. The break from $15-$10, pretty much says "we're going to $8, and probably 5", and since it's only monday, my guess is we'll go down past 5, depending on how quickly people panic with their returned coins. From the start, pirate has been a master psychologist.

Bitlane: When pirate said "It wasn't you", he wasn't kidding...underlying it would have been a "thankyou".

Market held at $8 so far with todays sell off. Anyone trying to say Bitlane triggered Pirateat40's decision is just looking for someone to blame if it all goes south on them. One positive thing I can say about Pirateat40, he doesn't come across as dumb. I think he saw the market getting out of hand on him.

Well, it's still nice to know that the (just shy of) 2500 BTC that I will get back tomorrow will be worth jack-shit....

I wonder if it's time for a super-panic and I liquidate every BTC asset I currently own or am a part of....FUCK ME.

Speaking of endgames, anyone who thinks Pirate was a ponzi, please learn to back yourself up with evidence, or be ready to pay a tax. https://bitcointalk.org/index.php?topic=101751

Seems matthew has some inside information... If tight with pirate in some way those people could know somin we dont and game others. But hey.. That sounds like typical btc antics to me and par for the course.

Actually I'm just personally tired of accusations without evidence, even from my own working colleagues. I would never recommend anyone to 'invest' in pirate. His operations are not transparent and therefor risky. I think anyone who invests in him with money that cannot be thrown out the window is a total idiot and deserves to lose everything they have. That said, saying he is a 'ponzi' or 'scam' just because you don't understand what he's doing is a deep sickness in these forums that needs to be stomped out.

Emotionless awareness, that is the ticket. Education. Calling everything a scam and everyone a scammer is, has and always will be annoying. The bet that I'm wagering is not really about pirate at all, it's about teaching the keyboard warriors that just because it's a forum and they pretend that they are anonymous, doesn't mean that they don't have to pay for their mistakes. So pay up. You think he's a ponzi, make some easy money. Otherwise, you're a coward and a liar. Basically.  ;)

Too vague in general, actually. Will it be considered a default if the passthroughs that promised to pass on the balance if Pirate pays out settle for less than 100% from Pirateat40?

Pretty slack on the betting rules to be throwing around the terms coward and liar. Not known to be emotionless words, btw.

More suckers leaving coins in someone other than themselves to control..  idiots!
I dont care what BTC value is as long as I can turn them into real money (FIAT) at a profit.
SO far that limit is 12.5 BTC reward at way way over 3,000,000 difficulty in my economy mode.

I was not expecting double digit prices on BTC until after the first of the year.

I welcome 5$ BTC prices. And for that mater, I welcome 1$ BTC prices.  :)