Of that 1.2 BTC you got to mine 1 BTC how much will be left after you pay for your electric expenses?
Why not just keep your 1.2BTC and not mine at all? If your mining for fun, it makes sense, but for a profit it doesn't. |
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The lender knows exactly how much he/she will be getting over the next 2 years, with no fluctuation.
It will fluctuate much more than a difficulty increase when you run off without paying |
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On the first version of the web page for his laundering^Wtrading system where he promised a high weekly interest to people who deposited there. It was under "Why don't you reveal your real identity" or similar. He has smartened up a tiny bit since then, and left it out in later versions. I don't know what excuse he has got this week for not revealing his identity.
Many people know who he is. |
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Some people aren't willing to have their money in limbo that long.
They're willing to pay 15x more to have it a few days earlier? |
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Welcome to the forums.
Great to see people wanting to create new BTC services.
Wish you good luck with it!
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I think we need a petition thread. The vote will tell us the truth.
I hope you're not being serious? A vote doesn't constitute as evidence. |
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<fud>
Everybody knows that Pirate is Atlas, Shakaru & Bruce Wagner. He is the biggest smuggler of Colombian cocaine in the world and doesn't afraid of anything.
</fud>
Blazr proposes FUD tags for the forum
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We are yet to see a btc address. Until, we get that, we cant grill bulnula.
Maged posted a PGP encrypted version. Thats fine. |
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Many have asked: How is Pirate regularly paying off 7% a week, with consistency and over a period of time? (a ponzi would have folding months ago)
Bernie Madoff ran his ponzi scheme from 1970 until 2008. Earlier today I made a post about this, and I have a feeling this is what may have inspired this thread. If pirate is laundering Bitcoin then the people who are paying him to do it are paying him ridiculous rates. If you go to onionland you'll find plenty of people willing to launder Bitcoins for a 1-2% fee. |
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Nevermind the fact that the hacker has a copy the database, and has all for info required to make a claim. The only thing protecting you is a verification email and/or a copy of your ID. This is not some claims system that was carefully created over several days.
In Zhou's own words, he built Bitcoinica in 4 days. |
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Blazr: to answer your question, I won't be wasting my time trying to get a specific number on random.org. I will be making a video showing the whole process. Im not even trying to win this raffle, I'm trying to give you fellow bitcoiners a chance to win and have fun with this whole process.
This is an anonymous forum, you could be Shakaru or kujoking for all we know. A lot of people won't take your word for it. |
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I have decided that the way I will be choosing the winner is by using random.org
How do we know you just don't run random.org multiple times until you win? |
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what you don`t even?
im 12 and what is this? |
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Didn't almost all Irish banks nearly default a year back or something?
Yes, during 2008 there were a couple of bank runs and government stepped in and had to guarantee all the banks assets (at the time they couldn't afford to pay 10% of their assets, but it stopped people from doing bank runs). We did/still do have a banking crisis, that was due to the economic downturn & corruption in the banks (bank managers gave themselves loans for millions and then put the money on the stock market & then paid it back). I've had this interest rate for many years, during the Celtic tiger (huge growth in Ireland, banks were one of wealthiest in the world), during Irish recession (where a few banks closed), and still have it. |
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Come on guys, how are you getting this rates?
Why should people lend you their money, when they can put it in real bank with better interest?
Or lend much less sum for mush bigger interest?
A real bank only pays 4-5% interest/yr on savings account deposits, and thats not tax free. |
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I'm looking for a loan to expand my mining operations. This is a long term loan lasting 2 years, I will be paying 10% APR. Payments will be quarterly, for a total of 8 even payments. I will be purchasing FPGAs with this loan. I have free electricity but only to a point, the low power usage of FPGAs will assure that I stay under the limit and guarantee me profits. Id prefer no more then 7 lenders with a minimum deposit of 500 bitcoins but Ill consider making exceptions. I will provide ID and whatever else is requested. Feel free to ask questions. These are some past trades Iv completed on this forum, 1, 2, 3, 4, 5, and 6. That interest rate is pretty low for a BTC loan. |
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Lol, so this is a great way to launder tainted bitcoins.
Yep, because there are no previous transactions for freshly-mined coins, but I find it hard to believe they would pay such high rates just to launder coins, there are much cheaper ways of doing it. IMO both GPUMax and BCS&T (both ran by pirateat40) are both pretty sketchy services, we really don't know how GPUMax can pay so much to miners, and how BCS&T can pay up to 28% interest/mo on deposits. I take my chances with GPUMax due to the daily payments, but won't be touching BCS&T anytime soon. |
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Alright, that sounds nice. But has anyone ever rented your hash power?
I don't see the reason why anyone would want to rent, they would have to pay more including the markup than what they would earn.
My hash power is rented 50-70% of the time (for around 10-20% more than solo mining would pay). There a few different reasons to rent hash power, most are nefarious, and the two big ones are to wash money or hop proportional pools (although pool hopping isn't possible for those renting from GPUMax). Somebody is profiting off your GPU in some way or another. Some people do use it as an easy to to buy Bitcoins (Ie, rent GPU's via PayPal and use them to mine), but AFAIK GPUMax only allows people to rent using Bitcoins, so that one doesn't apply to GPUMax either. Another legitimate reason is to use your GPU to merge mine, so they actually get the Bitcoin's mined + other crypto-currenices mined. This is usually only 1-2% more profitable though, not near enough the rates GPUMax renters are paying. |
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I have a question for GPUMAX users:
Does GPUMAX give you more earnings than a traditional pool? I have around 4 ghash and wanted to get the most Bitcoins for my hashpower.
GPUMax isn't a pool. Your miners connect to GPUMax. GPUMax then sends your hash power to your pool of choice. Whenever GPUMax can lease your GPU for more than your pool is paying you, they do it and pay you more. Therefore, GPUMax has to pay you more, as it only actually kicks-in whenever they can pay you more. |
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