Bitcoin Forum

I wandered into #btcst and it seems people are still clinging to the illusion that Pirate will pay?

Will pirate pay? Let's speculate.

 :D

I KNOW HE WILL PAY AND I WILL BET 21,000,000BTC

Everyone who believes in him must be out of money because the market still only values pirate debt at 5% face value.

... Which is probably too high.

Oh boy. Pirate is going to pay and MNW will win his bet. This is going to be awkward.

Its not impossible, but only if he manages to buy up most of his debt through sock puppets at a few cents on the dollar, and then "repays" himself in full.

Anyone selling Pirate debt should make a contract with the buyer that if pirate pays out, they are entitled to (say) 33% of the amount.

Linear time is sorely overrated.

Maybe that was his plan from the beginning?

Perhaps he's dependent on gpumax revenue to buy up cheap debt.

Seems like the russians have a certain way of handling pirates:
http://www.youtube.com/watch?v=ex-L3MrLS6M

Or (in the case of tradeable instruments) just retain 33% of the debt instead of selling it all. Removes some trust issues.

But if pirate really was trying to buy back his own debt, then his recent announcement that gave many renewed hope was a bad move. I don't think there are any clever maneuvers to regain respectability in the pipeline. The gameplan was apparently simple
1) Take money
2) Run

Except that it now appears that step 2 is optional, since apparently none of his "investors" have the balls to do anything about it. The same people who claim to have lost 10k+ coins, and in the very recent past traveled vast distances to have dinner with him in Vegas, can now not be bothered to go knock on his door and ask him what's up, even if only to confirm that he lives where they think he lives. ???

In that case, the buyer will only pay 67%

Why not simply sell only 67% of the debt? That's just equivalent

Apparently you haven't heard. On October, 12, 2012, the Mayan god Quetzlcoatl is going to return to earth and defeat the Norse god Thor, thereby returning the Frost Giants to their rightful place as the rulers of Earth. Anyone still worshipping Thor will be fed to the giant turtles which hold up the Earth, to be recycled as turtle shit for the rest of eternity. Also, if you sacrifice your first born child to Quetzlcoatl now, you'll get 100 virgins delivered to your door by the Frost Giants as a token of their gratitude. Those who wait patiently for the second coming will be well rewarded! Mark my words!

Yeah obviously its same thing, but Im not sure you can transfer 67% of a locked account.

I thought anonx was pirate buying his debt back @ 1%

Atlas Shrugged Part II Trailer! Release Date October 12, 2012 (http://www.youtube.com/watch?v=hCEDSU6JQBs)

Upon viewing the trailer, I can't help but muse if the last part of the trilogy will be about Bitcoin.

*shrugs*

There never was a pirateat40.  People just believed what they wanted to believe.

There are no missing bitcoins.  There never were any bitcoins.

so are you saying no one did anything wrong?

You don't really mean that.