We covered this. We're not necessarily trying to convince you but rather the unsuspecting naive latecomer in hopes to prevent more people to lose money when the scam does eventually go bust and hopefully if we ward off all of them, sooner rather than later.
Why? Are you really so obsessive about Pirate, or do you actually want to bear latecomers' offspring? Surely it must be that and not that I wouldn't want people to lose money and endlessly suffer right? |
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Has anyone lost money in this so-called ponzi?
I have been a lender since December 2011, pirateat40 has never missed a payment. I actually receive the payment every week, and then redeposit most/all of it back soon after receipt most of the time.
This has "I am a Ponzi scheme victim" written all over it. Ponzi never failed to pay until one moment, from which he never paid again. The same goes for MMM-2011 and all the others. One important reason why it works is that people re-invest too much. I think that one of the signals of a ponzi is cashflow(bitcoin-flow) problems. Since I have only reinvested after receiving the bitcoin, bitcoin-flow doesn't appear to be a factor. In addition, people getting mandatory withdraws could never happen in a ponzi, since money is always needed to fund the ponzi. Have you read?: https://bitcointalk.org/index.php?topic=91214.0  |
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We're pages into the latter. Still no explanation, still it looks like Pirateat40's decision is a massive loss for him unless it is a Ponzi. Still nothing on the need for insanely large individual accounts to get the 7% yield.
Vandroiy, You want me to tell you how I run my business? That's your end result, right? You don't care what happens, I tell you what it is and you'd ruin it for my lenders or I don't tell and you keep up the never ending slander. We got the message, you've warned everyone. I'll be sure to post that "YOU WERE RIGHT" when things come crashing down. No no... no! We're not stopping, we're going to keep repeating the same red flags until you can't find anyone new to "invest" with you before answering some crucial questions. You see, we're not exposing you so those who already take in to their account the very high risk that you are a fraud before they "invest" with you, no no, we are trying to save those unsuspecting naive people without which, if you are the fraud that we think you are, you're going to go bust ASAP. |
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Quit making antagonizing posts when those in the thread have a clear understanding of their participation risk. Go do something productive with your time rather than engaging in mental masturbation.
Ignore.
We covered this. We're not necessarily trying to convince you but rather the unsuspecting naive latecomer in hopes to prevent more people to lose money when the scam does eventually go bust and hopefully if we ward off all of them, sooner rather than later. |
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would you rather make 10.65% a week but have some risk of losing your capital if bitcoin fails OR would rather make only 4.67% a week using someone else's capital and have pretty much no risk whatsoever. I think pirate would be stupid to risk his own money.
Do you really want me to do that math for you? Okay. Whatever. Difference in yields there is 5.98%. Amortization time of risking own money: 12 weeks. However, Pirateat40 pays 7%, so it's shorter even! Bitcoin has survived trading for decent amounts for over a year now, so the decision to use other people's money is a massive loss for him already. In fact, a factor 5.7 using these understated client yields. Plus, just investing the earnings from the current scheme now and kicking people out would not risk a bitcent of his starting capital! This is a joke. Next argument, please? following thoughts come with an assumption that pirate's business is not a ponzi for argument's sake i figure pirate doesn't have a luxury to keep all the profits for himself otherwise it would be poorly reflected on overall bitcoin economy, he would acquire massive amount of bitcoins but since no one else making such great returns bitcoin demand and price could potentially significantly degrade which could lead to his business drying up as well. by distributing wealth throughout his lenders he ensures bitcoin economy keeps floating and therefore bitcoin demand and attractiveness continues to stay on level and increase.  BWAHAHAHAHAHAHAHA  YOU CAN'T BE SERIOUS  Did you hear people? He's giving up profit for the greater good of Bitcoin. Man how deluded can some get..  |
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Brunic:
No matter how you tune the numbers, Pirateat40 would quickly be able to trade with more and more of his own funds, kicking out investors and claiming the profits for himself. As soon as he has over 10k coins himself, it takes him 34 weeks to obtain one million BTC without the help of investors.
Forget it. Any theory without money laundering is a joke, and for that he lacks a supply path for fresh coins: too much re-investment.
In fact, just forget it period. There exists no explanation why anyone in the right mind would "share" returns like that over such a long time.
Boom! I'd like to see ponzi "investor" apologist try and defend against this one.. Why does pirate still share his profits? Charity? Interesting, no takers so far. |
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Brunic:
No matter how you tune the numbers, Pirateat40 would quickly be able to trade with more and more of his own funds, kicking out investors and claiming the profits for himself. As soon as he has over 10k coins himself, it takes him 34 weeks to obtain one million BTC without the help of investors.
Forget it. Any theory without money laundering is a joke, and for that he lacks a supply path for fresh coins: too much re-investment.
In fact, just forget it period. There exists no explanation why anyone in the right mind would "share" returns like that over such a long time.
Boom! I'd like to see ponzi "investor" apologist try and defend against this one.. Why does pirate still share his profits? Charity? |
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I think my idea would improve governments by making it at least harder for them to break the constitution.
Why would anyone "not break the constitution"? |
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A TAX is paid to a government that may help others, but not YOU.
I don't understand. Why should I have to pay for something I don't want or wont get any benefit from? EDIT: Actually now that I think about it a bit more: A TAX is paid to a government that may help others, but not YOU. If they DO help you that help is often diverse and not specific to just one service.
Its nitpicking, but I think it makes sense that people would pay a voluntary tax to government they believed in.
Well.. if it's a government "they believe in" then the services the government provides, regardless of whether those services benefit them or not, are services that they want and are paying for, hence it's a fee. |
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Pirate currently has enough bitcoins to clear the entire MtGox orderbook that is currently visible.
Can you define what you mean by the visible orderbook? gox has a dark order book so the market is not scared when large trades happen. or this is the way it used to be done. It doesn't ever since the hack last year AFAIK |
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Chilling new deposits alone should bring the thing down, that's why it's essential we do not leave this thread here alone. I think we're pretty close to the limit.
Based on what? Rates dropping, limits increasing, ect ect But a Ponzi has no limits. A smart one does to avoid the whale problem in order to last longer and get bigger.. |
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Chilling new deposits alone should bring the thing down, that's why it's essential we do not leave this thread here alone. I think we're pretty close to the limit.
Based on what? Rates dropping, limits increasing, ect ect |
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Exactly.
Anyone talking about Ponzi in this thread should just STFU and GTFO ( just like psy said ) !
Can we make it so "ponzi" is automatically censored to "*****" like "BFL" is automatically censored to "***" in the FPGA forums ?
That would be great !
Also, IMHO the people shouting PONZI right naow should be liable for any losses that happen as a result of those posts ...
In other words, if this folds and I lose my xxxx BTC be sure I will come after you hazek and vandroiy to get my last satoshis because you come in here and try to ruin the partay because you were late and jealous now !
Hahahahaha spoken like a true ponzi "investor" apologist. |
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Baby Jesus is crying. Can you fucktards take this to one of the "is pirate a ponzi?" threads?
No one is going to convince anyone else. Pirate has abandoned this thread because it's information-free. With increasing frequency, some n00b shows up with the same polemic and vitriol (always the vitriol) about Ponzi. If they'd bother to scan the thread, they would discover that this horse has been beaten so badly that it's horse...jelly.
(see what I did there?)
Since I think it's a ponzi scheme and I'd like it to go bust ASAP in order to save people from unnecessarily losing their money, wouldn't you say it would make sense for me and people who share my views to beat this horse in perpetuity to prevent any latecomers to miss out on the warnings especially because ponzi schemes can't survive without a constant stream of new suckers? You aren't making any sense. |
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But consider for a moment the (possibly very small) possibility that he really has found an excellent way to make money.
Actually no, I will not consider that, like at all. ^ this does not exist on this planet. There is no "secret" way of making money with no risk, there is either legit based on sound fundamentals money making or there are frauds and scams. Every time someone discovers a new way to make money with such a high return it's almost always because they are the first to enter the market providing an actual good or service or they just discovered a significant technological advancement giving them a huge edge over the rest of the market, neither state of the market can last for a long period of time because competition soon follows and diminishes your slice of the market pie. Please quote for me where he states he will continue this forever. Its you lovely people that keep making this estimations about what will happen "if things keep going the way they are". Please quote me where he stated when he intends to stop. You see, two can play this game. |
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Every time someone discovers a new way to make money with such a high return it's almost always because they are the first to enter the market providing an actual good or service or they just discovered a significant technological advancement giving them a huge edge over the rest of the market, neither state of the market can last for a long period of time because competition soon follows and diminishes your slice of the market pie.
Um, yeah, it's called bitcoin, have you heard of it? And he has stated that he doesn't want to reveal exactly what he's doing because then other people will do it, driving down his profit. Which also fits with your theory as quoted above. Really? Somehow pirate can do what no other Bitcoin business can do, and he can do this in secret without anyone else catching on?? Bitcoin is just a new money + a new financial service, how does that differ from what returns are possible with conventional money and conventional financial services? It doesn't. If you aren't interested in simply trolling me and if you actually want to listen to my arguments why you should be very skeptical of getting involved please read my entire post and don't take things out of context. |
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Is it still possible to bet on pirate going bust?
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But consider for a moment the (possibly very small) possibility that he really has found an excellent way to make money.
Actually no, I will not consider that, like at all. ^ this does not exist on this planet. There is no "secret" way of making money with no risk, there is either legit based on sound fundamentals money making or there are frauds and scams. Every time someone discovers a new way to make money with such a high return it's almost always because they are the first to enter the market providing an actual good or service or they just discovered a significant technological advancement giving them a huge edge over the rest of the market, neither state of the market can last for a long period of time because competition soon follows and diminishes your slice of the market pie. As for finances, finances are nothing but skimming off the top by providing less friction to the flow of money, if there's any place where unusual high returns aren't possible, it's finances, at least not without significant risk. What pirate claims to be able to do is therefor quit likely impossible in the short term and absolutely impossible in the long term. The only possible explanation that I would consider is if he is involved in something governments made rules about forbidding it, something like the drug trade or weapons trafficking, ect.. all possibilities of which likewise carry significant risks. So yeah. Anyway, I'll be perfectly happy if he doesn't go bust and if all of you make a lot of money or if he does go bust and all of you "investors" just chalk up your loses to the risk you knew you were taking going in. I'm just afraid many will cry and scream and get hurt because they were under the false impression of just how risky their "investments" really were. |
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This thread is about BS&T it is not about ponzi schemes.
The only way this sentence makes any sense at all is if you believe BS&T is not a ponzi scheme, which I find no good reason to share. If you have some facts to support your belief I'll gladly take a read but until then, for me, talking about BS&T is talking about a ponzi scheme. What facts, exactly, do you have to support your belief? I can't prove anything definitively, that much is clear. But what I can do is look for the tell-tale signs of a ponzi scheme(various facts from what is disclosed about the "investeing" to the abnormally high interest promised, the way PR is handled, ect..) + take into account the complete lack of evidence to the contrary. To someone financially literate like myself this is enough to know with a pretty high accuracy what I'm looking at is a scam and it's not the first I've encountered and immediately recognized either.. |
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This thread is about BS&T it is not about ponzi schemes.
The only way this sentence makes any sense at all is if you believe BS&T is not a ponzi scheme, which I find no good reason to share. If you have some facts to support your belief I'll gladly take a read but until then, for me, talking about BS&T is talking about a ponzi scheme. |
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