The debtor can repay in part, which will still be at a profit for the creditor.
If I receive less than I've loaned out, I'm at a loss, regardless of the exchange rate. Perhaps I've misunderstood you. you could break even on a lessor amount if the value increases : loan out 100 coins agreement of 120 coins returned in 1 month coin price incredibly doubles overnight borrower can only afford to return 60 coins you have still profited since each coin is worth double No, if fiat profit is what you are after, I would have been better off with my 100 coins. Loaning them has provided me with a loss. you can still ask your debtor to fulfill the contract with 120 coins but if he says he cant afford to since the coins have doubled in price what you gonna do ? the loaning business is just plain risky , no matter what your loaning out |
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The debtor can repay in part, which will still be at a profit for the creditor.
If I receive less than I've loaned out, I'm at a loss, regardless of the exchange rate. Perhaps I've misunderstood you. you could break even on a lessor amount if the value increases : loan out 100 coins agreement of 120 coins returned in 1 month coin price incredibly doubles overnight borrower can only afford to return 60 coins you have still profited since each coin is worth double |
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then I started reading up on bs&t...
and Im starting to feel used.
are you going to tell us the conclusion of your research or do we have to guess ? |
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This weeks payout will be shifted to Saturday.
Need me to loan you some coins to make payout? No, I just have a life and couldn't do it today. Dont Lie ...... |
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So, no news from Pirate? Also, no coins back?
11BST accounts have been fully paid and closed according to the other thread |
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man, I actually can't wait for one of these cards, I use visas as essentially a debit card, and a bitcoin debit card would be PERFECT, its exactly what I need to be able to buy what I want.
Okpay provides debit cards fundable via bitcoins since months. (the fees are pretty high, though) high fees are a killer for me ,if its too damn expenive to use it i would just use a another debit or credit card than be penalised for spending my btc i even get kick backs for using my regular credit card of a few % back per month so the BTC version wil hopefully be as cost effective as a normal debit transcation should even be cheaper since normal card companies have the charge back risk and they need to pay staff to sort out unauthorised transcations and reclaiming from merchants since BTC transcations are irreversible ,there should be a lot less work for the people at mastercard |
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I think MNW thread is a great solution for people who feel destined to lose their pirate deposits + also the entertainment value is priceless if your life savings are not at stake ok ,some people are into pirate for 25,000 -100,000+usd and they are most likely screwed if they bet invested money they couldnt afford and pirate is already in jamaica drinking rum with no intentions of coming back .... everyone hassling matthew about his funding or how many caucausius coins he owns should lay off if you dont trust a few coins of risk in a bet just keep them in your wallet cause gamblings probably not for you anyway the only concern i would have is that pirate is funding this bet since hes the only one who can really influence the outcome ?  |
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I am just wondering when MC/VISA shuts this card down on the grounds of drugs/terrorism/fraud risk/other BS.
I don't see why they would allow BTC to get very big... maybe the 1% fee is enough for them to forget how dangerous BTC is to them - you never know how stupid greedy folks can be.
there is scores of other "virtual credit cards " that can be loaded with cash vouchers and they dont seem to get shut down bitinstant could argue that all these cards could be used to spend drug /fraud/illegal money just as easily since they can be funded by anonymous moneypak and ukash vouchers in usa and uk respectively |
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i understand the card has a 1000 usd limit
to transfer 1000 on costs 1.5%
a card costs 10 dollars ,do they expire ? will there be a 3 digit ccv code on the back for online purchaes ?
is there additional fees on taking that $1000 from an atm if you need cash ?
will visa or AMEX offer an alternative ?
im excited about it ,i want one providing the charges for using it are not excessive
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the last couple of months ,every second thread was a warning to pull your cash out because people with calculators quickly figured out this was going to collapse vandroiy told everyone initially but the problem was people want to believe they get 3400% interest no matter how many times the impossible numbers were posted as a warning ,all it did was attract more new investors the warnings were so much in your face its hard to believe anyone would still invest but people were still opening new accounts + making deposits to bitcoin max just a few days ago and havent even qualified for a 1 weeks interest yet...........  |
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I've received my money from pirate already. Now waiting on my other money in the ppt schemes.
if you had a bst account (at 7%/w ?), why did you put additional money into PPTs (at less than 7%/w)? Clearly to spread the risk... All the passthroughs are reliant on pirate anyway,if the BTCST defaults it will be interesting to see what happens to all the guys that were offering 2-3% "risk -free" bonds and investments more than likely some of them were collecting 7% rates from pirate and pretending to be investeed in something safer |
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I think we get the point already..........
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how does one know who is close to pirate and who is not?
its safe enough to assume that people who personally had dinner in vegas with him like BurtW and gigavps and the others on the top tier are closer to the top than most of the "normal" everyday joes that invested a few coins i would include payb.tc as well as anyone else running one of the ppt funds, some worth 1+ mullion usd as being on the top level if these guys are still buying up accounts as if theyre worth something ,then they probably know something most dont  matthews bet thread also ,highly entertaining as it might be ,doesnt act like a man about to lose 100,000usd worth of BTC.............. |
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[22:51] <@pirateat40> btw, pirate has been drinking.
Probably because he is stressing out lol Pissing away everyone's money  Is there any place you can get drunk accepting BTC yet ? |
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the op reads like: if it were a ponzi pirate would have flew to some exotic country
Does anyone know 100% pirate is still in texas or even in the united states ?
he could be anywhere by now if he so choose with about 5+ million $ worth of asets
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bitcoin max accounts are now being sold for 50% face value
if i was pirate ,id stay quiet for a couple of weeks until everyone thinks its 99% default
and people are happy to get anything back for the accounts
in the meantime he can proxy buy all reduced priced accounts in the panic ,only repay 50% of BTCST liabilities and probably still win the bets since people "agreed " on a lessor amount
the more panic and fear the better to reduce the colossal payouts down to a more managable amount ..........
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How is Pirate going at returning the funds of his investors plus interest? Well that is the question of the week. If it is/was a Ponzi scheme the answer is he won't and investors will lose. If the PPT bonds are any indication the market is anticipating a less than 50% chance of repayment in full. people close to pirate have bought bitcoinmaxaccounts for close to 80% face value matthew is betting out 25,000 btc that pirate is going to pay in full giga has offered to go 50% in that deal does that not all sound like people close to pirate know something everyone else doesnt ? maybe the plan is for everyone to ditch their btcst shares and ppts cheaply by scaremongering and pirate can come in and win all the bets on the last day by reduvcing his payouts through skullduggery,stramger things have happend |
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I took it to mean he wouldn't pay until he had control of the account, I would assume a changed password and a confirmation from payb.tc that the payout address is changed would be enough
But at the moment there is a default risk, as everybody knows... everybody except matthew ......... and giga and burtW and a few other of pirates top guys seem very confident hes going to pay up or they wouldnt be buying up bitcoin max accounts from people who are panicing...... its fairly obvious some people have a better idea of whats going on from their actions alone ........... |
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I've run companies larger than BST as CEO (not in finance) and honestly if I made those kinds of moves without telling the client base formally and correctly what they could expect from my changed business operations I'm quite sure the board would have canned me without the golden parachute attached.
He's a one man shop. He doesn't have a staff. He doesn't have a board. Its just him. With tons of people expecting 24x7 availability. You're comparing apples to oranges. Why is this?? He has Millions of dollars of coin. Why doesn't he have a staff or assistants?? BFL has probably taken in less BTC then Pirate, they have staff.. The bitcoin magazine definately has taken in less, they have staff.. It depends on what his business is and how he wants to run it. If it opens again its likely to be similar as last time i will invest the coins but i cant tell you where or how etc ............or else i couldnt do what i do |
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