If I win the 10,000BTC I'll be cosmopolitan and travel all over the world
He could personally deliver all those magazines  she could... :p sure  With "he" I referred to Matthew, and I am pretty sure he is a he. That being said, chances are that I would prefer having it delivered by you  |
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If I win the 10,000BTC I'll be cosmopolitan and travel all over the world
He could personally deliver all those magazines |
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some people are claiming some of these accounts have been paid, any truth to this?
thanks
no bitcoinmax accounts have been paid out. perhaps they meant they sold them to 3rd-party investors. Thanks, I kinda doubted the source but thought I would check. I guess this happened this way: pirate stated on IRC that he payed back something like 11 tiny accounts (IIRC less than 8000BTC, so only pocket change). Pirate cannot access bitcoinmax accounts so this must have been BTCS&T accounts. Then some noob, knowing only bitcoinmax, claimed this to be bitcoinmax accounts. Someone also said that payb.tc is expected to get paid in one single huge transaction. |
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some people were wondering what is an old/new bitcoinmax account, relatively speaking, so i put a little message in the login area to show your ID number (out of 373 accounts).
2) Payt.btc - you claim to have 367 accounts at Bitcoinmax, can you please tell us the average balance or the total amount of coins owed? It is extremely relevant at this point, as I would like to add your operation + BurtW's bonds and get a number.
Now we know why Micon failed in real live too: he is a real math wizard |
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Wow, if we had more sunnankars and less ElectricMucuses, the bitcoin world would be at least 10 times as large as it is now.
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Ethical considerations aside, he would be a fool to give back the 5 million dollars he has craftily stolen, save a Tom Williams parting gift. In other words: pirate is a honest man, while you would always scam given the chance. Revealing... Pirate is not proven to be honest yet, and elux said nothing about wanting to scam people himself. elux said that he would be a fool if he will return the funds. So in elux state of mind, you have to scam to not be a fool. Hence, revealing... |
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Ethical considerations aside, he would be a fool to give back the 5 million dollars he has craftily stolen, save a Tom Williams parting gift. In other words: pirate is a honest man, while you would always scam given the chance. Revealing... |
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Actually it could be even better if he pays late this week, because he promised to pay interest up to the actual time he returns the funds. So paying late would mean that you will get interest for another, say, half a week. So just keep mum. Perhaps he will pay you after a couple of years. Then he will have to pay you more bitcoins than the number of bitcoins in existence. LOL, someone is still extremely jealous!  But it is fully understandable, because pirate will not lower the rate, but continue to pay 7% for this week  |
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in order of priority
- pay those that requested withdrawals before BST closed. (2012-08-17 17:58:00 UTC).
- pay last week's principle balance in order of account age, including any deposits made during this week.
- pay this week's interest earnings in order of account age
so have the payouts from pirate started yet? He said it could take up to a week. You might want to relax. i know i know . was just a question . wasn't asking after my bitcoins. just to know if SOMEONE had already received coins. i have great trust in pirate he will pay everything back in time. Actually it could be even better if he pays late this week, because he promised to pay interest up to the actual time he returns the funds. So paying late would mean that you will get interest for another, say, half a week. |
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Just days ago there was a little over 60,000 BTCs on the sell side. Total. Now there are ~200,000 BTCs to $15. It would take almost 2.5 million dollars to get back to where we just were days ago, assuming a single giant buy. AND, the number of bitcoins that has suddenly appeared on MtGox doesn't represent the additional hundreds of thousands that will be entering the market throughout the week, assuming pirate actually makes good on his claim to cover everyone's deposits. In a odd twist of fate, it'd be better for the market for pirate to just run off with all those bitcoins. To say that supply has increased a lot is a laughable understatement, even now, and considering what's coming this looks worse than it did in the lead up to the crash to $2.
Bitcoin buyers are easy to understand. They want to buy as cheap as possible, or need the coins ASAP. In sharp contrast Bitcoin sellers are really hard to understand. The same people that didn't want to sell at almost twice the price one day ago, want to sell everything at half the price as fast as possible. So in other word it works like this: buyer "hey, want to sell me at $14?" seller "no way!" buyer "ok, want to sell me at $8?" seller "sure, take all I have" Sellers always flood the market with cheap coins as soon as the price goes down. Because they now get less per coin? Are sellers actually stupid, or what does cause this? |
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Why proudhon, why do you need bitcoin to crash so low? It sounds like you want everyone else to panic so you can buy our bitcoins from us at a lower price than they're worth. Sorry proudhon, but I'm not selling you my bitcoins.
Look at his avatar. proudhon is a bull, that is why he is fear-mongering you all into selling, so that he can buy your coins as cheap as possible |
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I'm a huge believer in competition and I think LTC has what it takes, because it's got the same "perfect money" profile as BTC with all of the same inherent strengths and potential weaknesses. I would like to see LTC grow and offer a strong secondary alternative to bitcoins, especially in the eventual brick and mortar world, where it would actually be more useful than BTC thanks to its far faster confirmation times. LTC is no real competitor to BTC because it is basically just relabeled BTC. Confirmations are a tool against double spends, and the actual level of security is in the roam of network hashing power * number of confirmations * average block time. So for each confirmation on BTC one has to wait probably 10 on LTC, in other words, way longer, to get the same level of security against a double spend. |
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Trust is earned, not given. What did pirate do to earn trust?
Member of the community, gpumax, OTC rating, etc Do people know who he is or where he lives?
People are way too lazy this day. Google him. Look at his facebook page. Look at the facebook page of his wife. Look at the pictures of his sons, dogs. Hell, we know more about him, than we know about the whole dev team combined. But in sharp contrast we trust the dev team with ALL our bitcoins. Do they know how the money they give him is used to make those returns?
I guess sometimes the business model itself can be the trade secret. That being said, read his post on this forum and on IRC and you will get an almost clear picture about his business. Do they know how much of the profits he keeps for himself?
Yes, he stated to make about 10%/week and gave his lenders about 7%. Do they even know why he needs other people's money instead of just earning the 7% weekly return on his own money?
He did not have such huge funds, and those were necessary for him to make this profit. But while all those are neat questions that can be answered easily, it still leaves the actual one unanswered: I don't really follow the logical connection between "some people may have lost money to a bitcoin scam" and "it's time to panic sell!"
Why would anyone panic sell over this type of announcement? Is the assumption that pirate's was going to dump his btc holdings, causing the price to go down? If so, why would he bother announcing?
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Destructive people like Vadroiy, Micon, Mage, etc must be really proud about the level of distrust they have brought to this community.
A huge lender (pirate) publicly states that he will pay back everything within a few days, and everyone and his mother start panic selling. A lender is supposed to pay back, so paying back should actually be a good thing. But people like the one mentioned above the above have already planted that much distrust, that every move is interpreted as a bad sign.
Now every community has to deal with destructive and vandalizing members, however, I think that the Bitcoin community spectacularly fails in this regard. Distrust, vandalism, blaming, insults - all those things reign freely in this very forum.
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please try and not resort to personal insults
LOL, now that is some new level of double standard. The most insulting person does not want to be insulted. Poor stupid little Me-con. |
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Now that Pirateat40 closed down his operatations thanks to all the fud that was going on and growing on the forum, I expect everyone that spreads this fud, accused and insulted Pirate and the people that supported him to apologize.
Not only did Pirate brought us a great opportunity for investors (once in a lifetime actually), he did help stabilise and grow steadily bitcoin price, volume exchange, and thus contributed to the success of bitcoin. For that, Pirate, I want to thank you. You've done a wonderful work, and I hope you're stay around here.
Now, apologies on.
Pirates business did pay excellent interest for those that already had tons of coins. Do you really expect that this communitylynch mob will apologize? I am sure those that did cry ponzi actually like to have destroyed this business. I am sure that most of the ponzi blamers knew that it was not a ponzi, but where simply jealous. At least 30% of this communitylynch mob are in here in to help failing Bitcoin. I think a turning point was when even Moderators joined in to blame ponzi, when they should have easily figured out the truth. It seems that using the very own brain is no longer in vogue, especially when pitchforks and burning down makes so much fun. |
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Am I the only one that feels kind of guilty this happened? in the beginning noone would withdraw because it would mean having to pm payb.tc and bother him. with the withdrawal web interface it just became too convenient
should have just allowed withdrawals together with interest once a week.
No need for feeling guilty. No one expected people to be as stupid as they apparently are  |
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My strategy is to take profit in the form of Gold and Silver.
Coinabul? Interesting idea. But that opens the question, what is your exit strategy on Gold and Silver? Bitcoins? |
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9000+ coins waiting in the queue to be withdrawn.... That's a hell of a lot, even for BitcoinMax !
Are you sure? It has been rumored that BitcoinMax has at least 120kBTC in it, so it that wouldn't be that much, relatively speaking. And don't forget, the withdraws where not public in the past, so we have no clue if this is more or less than usual. |
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A 800MH/s solves a block every 2 days or so.
How old is this slide?
That's based on my experience few months ago testing different pools. This may change along time and it's probably not exact. But maybe you can provide a better aproximation to this value. Maybe we can assume time between solved blocks / network power as a proper proportion to know how many time it takes to solve a block having X hashing power. FYI, 800MH/s got you 1 Bitcoin every 2 days, not a whole block (currently 50 Bitcoin) |
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