The binary was coming out of the wallet if I'm not mistaken, not going in,
which means its most likely not a mtgox storage wallet.
The binary message was going in to the wallet. This could be verified in about a second. Are you purposefully trying to mislead people? so it seems like he ended the BCST with ~ 500k hard BTC in a wallet. Now remember he paid a shit ton of interest, always depleting principal week after week - so that means he may have collected ~ 700k BTC and paid out ~200k BTC over time and is left with ~500k BTC.
I don't understand why you assume that it belongs to Pirate in the first place? If it does it would mean he actually has about the required amount to pay out, and he made it with pretty much all of the money he collected just sitting there doing nothing. That makes no sense. +1, this wallet is most likely mtgox cold wallet u know that makes a helluvalot more sense? Either this is false or MtGox is really, really into laundering their customers money for funds reason. (For obvious reasons this is highly implausible.) Next you're gonna say: It's most likely Silk Road! |
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Pirate is in debt service default of his own contract. By the rules of this forum he is a scammer.
He owes forum members in excess of $5M and has not repaid that nor provided any transparency on how/when he intends to repay it.
His obligations are increasing at a rate of $57,600 per day.
I mean by your logic as long as he never admits to it being a ponzi he simply can never pay anyone back ever and it isn't a ponzi or a scam.
There may never be absolute proof baring a confession. To be convicted in a criminal court only requires "proof beyond a REASONABLE DOUBT", in civil court is merely requires the "preponderance of evidence". Yes based on the facts known unless Pirate provided additional evidence to his defense he would lose a civil case alleging fraud and running a ponzi scam. Pirate is certainly free to provide evidence to his defense. He has chosen to provide nothing, and not repay more than a token amount, provide no specific timelines on repayment, and is in default of his own contract.
THAT IS A SCAM. PERIOD.
Wake up, Theymos. |
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Argumentum ad ignorantiam: "Of course the Bible is true. Nobody can prove otherwise.", "pirate is not a ponzi because nobody can prove otherwise", "there is a giant teapot orbiting the sun, because nobody can prove otherwise". This also includes "shifting the burden of proof", btw.
No one is claiming he's not a Ponzi. All I see are a bunch of people claiming he is. Sounds like a logical fallacy on your part. "I believe in the Devil, and I'm going to make you prove to me that he doesn't exist or else I'm going to keep on believing and telling about he's the Devil because he's red and does parlor tricks". Straw man fallacy. Try again. Try better. |
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... wall of truth ...
This devastating display of sanity should not be buried on page 57 of some obscure thread, but stapled to the church door. Make it a top level post. Get it stickied as a warning, and for future reference. Perhaps the next would-be catastrophe can be averted. |
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It's been a week. Payouts should be done by now, according to pirate. Has anyone contacted law enforcement yet? The Bitcoin Police even? Or is everyone (who has something to lose) still busy brown nosing Santa Claus on IRC? I guess the "ask difficult questions, no soup for you" gimmick was really that effective, huh? Well... Game Over.
Call the cops. |
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Ever close a business? You don't just make the decision, turn the lights off, lock the doors, and walk out and call it done. There's a process you must go through to make sure everything is taken care of.
The list of 4/5 options is rather lacking in the options presented.
Ever owe some people 500,000 BTC? You don't just joke around on irc for a week, day trade on the market with a bunch of your lenders' coins, and only pay back a few small accounts. Apparently, that's exactly what you do. (With great power comes great trolling.) |
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No serious trader would show such a stairway if he really wanted to sell, so it is manipulation only. It will vanish as quickly as it appeared (and reoccur at later times). We have to wait on new large investors.
It's a pirate, not a serious trader.  |
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Can someone change the title to include accurate numbers. 11 reported, 1 confirmed.
Proof of the confirmed payment? Claimed by pirateat40 on #btcst.Oh, and people get kicked for requesting details.  Edit: Disregard this, I was referring to 11 reported payouts, not the 1 confirmed payment. |
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IMHO, the Million Dollar Stairway to Heaven is the mysterious 100K transaction from: 1DkyBEKt5S2GDtv7aQw6rQepAvnsRyHoYMAn address that has been shown to be carry an unusually strong pirate stink. Disclaimer: IANA Bitcoin Forensic Crack Stop obsessing about the completely stupid encoded message transactions.  Let me return your attention to something interesting instead: It seems likely to me that the Really scary 100K transaction of not-so-impending doom from August 19 was not sold, but instead used to build the 100K BTC, Million Dollar Staircase we now see on Gox:  I have nothing to back this up, other than the fact that again, both the timing and the numbers seem to add up very nicely. When did the Million Dollar Staircase first pop up? How many BTCs was it originally built with? (Before the $10.20 spike damaged the lower steps.) Does the Million Dollar Staircase belong to the owner of 1DkyBEKt5S2GDtv7aQw6rQepAvnsRyHoYM?
PS: If BTCST investors want their Bitcoins back, why not purchase a step of the stairs? Take back the Bitcoins that were taken from you. Right now they're just sitting there, uselessly. |
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Stop obsessing about the completely stupid encoded message transactions. Let me return your attention to something interesting instead: It seems likely to me that the Really scary 100K transaction of not-so-impending doom from August 19 was not sold, but instead used to build the 100K BTC, Million Dollar Staircase we now see on Gox: I have nothing to back this up, other than the fact that again, both the timing and the numbers seem to add up very nicely. When did the Million Dollar Staircase first pop up? How many BTCs was it originally built with? (Before the $10.20 spike damaged the lower steps.) Does the Million Dollar Staircase belong to the owner of 1DkyBEKt5S2GDtv7aQw6rQepAvnsRyHoYM?
PS: If BTCST investors want their Bitcoins back - don't wait around! Buy back a step of the stairs instead! |
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17:55 <pirateat40> I not giving out times or dates anymore since nothing seems to be on schedule except the mention of "pirate" every 10 seconds. |
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Like this: http://arxiv.org/abs/1207.7139Traveling the Silk Road: A measurement analysis of a large anonymous online marketplace.
We perform a comprehensive measurement analysis of Silk Road, an anonymous, international online marketplace that operates as a Tor hidden service and uses Bitcoin as its exchange currency. We gather and analyze data over eight months between the end of 2011 and 2012, including daily crawls of the marketplace for nearly six months in 2012. We obtain a detailed picture of the type of goods being sold on Silk Road, and of the revenues made both by sellers and Silk Road operators. Through examining over 24,400 separate items sold on the site, we show that Silk Road is overwhelmingly used as a market for controlled substances and narcotics. A relatively small "core" of about 60 sellers has been present throughout our measurement interval, while the majority of sellers leaves (or goes "underground") within a couple of weeks of their first appearance. We evaluate the total revenue made by all sellers to approximately USD 1.9 million per month; this corresponds to about USD 143,000 per month in commissions perceived by the Silk Road operators. We further show that the marketplace has been operating steadily, with daily sales and number of sellers overall increasing over the past few months. We discuss economic and policy implications of our analysis and results, including ethical considerations for future research in this area. WIRED article: http://www.wired.co.uk/news/archive/2012-08/06/silk-road-drugsPDF: http://arxiv.org/pdf/1207.7139v1.pdf
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In light of recent news that pirate has indeed paid out one individual (and 2 reported although unconfirmed), I am even more confident that I will indeed win this bet as I had originally hoped. I've decided to raise the maximum bet to 1,000BTC per person.
 300 BTC
1B2ChfKWKDvEzhaxQBE1hVaw8a7c93qTkC
μολὼν λαβέ
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Surprisingly hilarious. Thoroughly entertaining. Came to hear what Matthew had to say, stayed for Crazier Mike. (Old man cranky call-in.)  Whenever you start echoing when you talk to a caller on the phone, ask the caller to mute the podcast or kill their speakers for the duration of the call. |
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Lovely treatment to a creditor.
Isn't this, together with bitlane's PMs, grounds for a scammer tag? What a cunt.
Easily. Not that it will matter though. The bitlane PMs alone should be sufficient. Mods? Theymos? |
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23:05 <pirateat40> It just proves in this community it doesn't matter what you say, there are always people willing to come up with everything to prove you're lying.
23:05 <pirateat40> And in a small finance market it makes it worse, cause they can induce panic.
23:06 <EmanuelDeOrtego> pirateat40: lol bitlane
23:07 <nathanghart> I thought you wanted a bit of panic, pirate?
23:07 <sharpfocus> pirateat40, it's only getting worse
23:07 <sharpfocus> people think it's intelligent to raise confirmation bias to their own idiocy
23:07 <pirateat40> nathanghart, nope just another piece of FUD that was feed to you at some point.
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23:08 <ultramancool> pirateat40: still, think about what you're offering and tell me you wouldn't have the first suspicion of a ponzi scheme or similar. not saying you are, not saying you aren't, just saying there's good reason to hold suspicion.
23:09 <mb300sd-bot> i'd rather not ignore something that could possibly effect the market, even if they are annoying
23:10 <mb300sd-bot> i'd ignore all of team ponzi, but they do have the effect of inducing panic
23:10 <aq83> pirateat40: so what can be done to transform this small finance market into a much bigger one?
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23:10 <pirateat40> ultramancool, trust me, I know exactly what things looked like from the outside, but it did allow me to find out who my real friends were. :)
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23:11 <reeses> mb300sd-bot: it made people scared enough to sell their accounts at a discount
23:11 <pirateat40> aq83, just more money which adds more liquidity on the market, which overall adds stability.
23:12 <ultramancool> aq83: would probably help if we had more transparent investments ;p
23:12 <bitfoo> pirateat40: I'm afraid the shutdown of your operation will reduce liquidity on the market, might this be true?
23:12 <pirateat40> ultramancool, investments in bitcoin will never really take off due to it not being regulated.
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23:13 <ultramancool> pirateat40: hmm, why does that prevent it from taking off? too much scam risk?
23:13 <Yahkin> The more transparent the transactions, the less risk that will be taken so that investors are not scared away.
23:13 <aq83> pirateat40, so I guess we need to somehow attract the big money
23:13 <uw> hmmm i'm not sure what to make of that real friends comment. Does that mean you got screwed somehow in your investement by someone who you considered a friend?
23:13 <Swashy> pirateat40: Does things progressing slower than expected change your repayment timeline at all?
23:13 <pirateat40> Real investors with real money need accountability.
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23:14 <p0pcorn> Madoff, Stanford, Worldcom CEO, Enron, ZeekRewards all in USD
23:14 <p0pcorn> regulation isn't the be all end all
23:14 <reeses> straw man
23:14 <sharpfocus> I've handed my money over to accountable people and they still lost it
23:14 <p0pcorn> I'm just pointing out a regulated market does not eliminate risks
23:14 <EmanuelDeOrtego> Swashy, you're back too soon.
23:15 <pirateat40> Swashy, not thus far, if things don't progress in the next 12-14 hours I'll let everyone know.
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23:15 <cr4zywork> pirateat40: Do you have any insight on the repayment schedule, such as are you setting up some automatic system that'll be repaying a lot of people at once, or will it just be a continual trickle until it's done?
23:15 <p0pcorn> at least not any of the regulation that actually occurs in markets to date
23:15 <Anduck> pirateat40: wanna light us what things?
23:15 <ultramancool> I think more transparency would help, if it were present I'd have been very intersted in BTCST... as of now I'm a few BTC against pirateat40 just because that was my gut feeling. I'm not on the forums ranting about how he's a scammer, but I just couldn't shake the feeling.
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23:16 <mb300sd-bot> far more worried about getting my coins to market the moment pirate pays than wheather he will pay or not
23:16 <ultramancool> mb300sd-bot: do a deposit now then ;p
23:16 <mb300sd-bot> i have nothing left to deposit
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23:16 <pirateat40> cr4zywork, I can't really comment on which accounts will be paid in which order. :(
23:17 <EmanuelDeOrtego> Hint: If you're not in the in-crowd, you're just not in the in-crowd.
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23:17 <JWU_42> P - just seeing some get paid has taken some froth out of the market
23:17 <patrickharnett> transparency and light-handed regulation (formed as a club) is one of the first steps in the market evolution
23:17 <cr4zywork> pirateat40: I was more currious about the frequency of payments rather than the order
23:17 <uw> cr4zywork, if you have to ask, you're probably last (like the rest of us)
23:17 <uw> if ever
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23:17 <p0pcorn> tbh, this is why I went through a passthrough and I sold off my shares at 90% face value after collecting interest for quite a while. Worked out alright for me, thanks Pirateat40
23:18 <ultramancool> p0pcorn: yeah, that's probably the smart move.
23:18 <pirateat40> ultramancool, only because of past performance (or trust) but legally with it being an unregulated asset at least in the US, anyone could just run with the money and never heard of again.
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23:01 <BTC-MINING> uw, proof of payment?
23:02 <BTC-MINING> You're not even authed on otc
23:02 <BTC-MINING> I have yet to see a reputable proof of payment.
23:02 -!- mode/#btcst [+b *!*@modemcable037.34-22-96.mc.videotron.ca] by pirateat40
23:02 -!- BTC-MINING was kicked from #btcst by pirateat40 [You're not welcome here!]
23:04 <pirateat40> I don't mind attacks, I just don't like idiots.
You better not cry, you better not pout.
I'm telling you why, Santa Claus is coming to town.
He's making a list, Checking it twice;
Gonna find out who's naughty or nice.
Santa Claus is coming to town. |
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it bothers me that someone would use an uncle scrooge avatar and in anyway support pirate and his business practices/model.
the real uncle scrooge would laugh at the thought of parting with his money in such a haphazardly way.
"Uncle Scrooge" is actually Donald Duck. |
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