Even if he understood perfectly well what BTC are and their potentialities, he still would have an incentive to talk them down, to discredit a big competitor to the stuff he is selling.

How about PPT.D? It should mature in a few minutes...

+ 1

Why the hassle of making announcements then? If it was just a ponzi coming down it would have been better to just vanish in the air with the whole loot a.s.a.p.

bet accepted (because prohibitionism works... not)

I figured the opposite: that the price spike was due to him buying BTC to face the wave of withdrawals...

(The last famous words)

Now that Pirate just announced to close his shop let's all go in [Drama Queen Mode: ON] and start bitching and moaning, so to get
at least some phun.

IMHO he could have been hit badly by the price shoot already, and the panic withdrawals as a reaction to his dividends cut may have been the last straw.
Any idea about what happens next?

There are several further degrees beyond euphoria:
- "It just goes up"
- "New normal / New paradigm"
- "Bull's nirvana"
- "This is going to end badly / Someone please stop it!"
- "WTF? LOL!"
- "I pwn the world!"
...
Add yours

Article refers to borrowing by businesses, not consumers. But it is just a detail. The point is that in a shock economy they will be able to get everything for peanuts as always, in order to transform us in s/t worse than medieval serfs. The funny thing is that all this is possible using our money.

You are an optimist, aren't you?

Gary Harrington, Oregon Resident, Sentenced To Jail For Stockpiling Rainwater
Posted: 08/16/2012
http://www.huffingtonpost.com/2012/08/16/gary-harrington-oregon-water-rainwater_n_1784378.html

 

No, just realist: once "they" monopolize even water and/or tax you even for collecting rainwater, owning some gold or BTC is not going to save your butt in the medium term.

I am not so sure. I own gold and silver from 2008, but in case of a proper collapse as it may happen, I think even us gold and BTC bugs are going to be royally phucked like the rest. The best investment would probably be some good piece of land in South America, or an underground nuke-proof bunker and lots of spam.

There is even the chance that the whole world economy "pops" at once before the BTC price. Anyway the banksters have the same expectations of all the BTC bulls here:

From: http://www.golemxiv.co.uk/2012/08/a-waiting-game/ :

"I don’t think the banks will lend in to the real economy because they calculate that such a socially useful strategy gives low returns to them. Should they ‘defect’ from this generous strategy and chose instead the selfish strategy of ‘hoard and wait’ then they could make not just a large return but an epic one. They could emerge as owners of everything people will need in order to rebuild their lives. Water, power, rail, hospitals, you name it.

This is what the banks are waiting for. And our politicians are giving them our money so they can."

niemivh: do you expect to gain some rep being so full of hot air or are you just trolling for the sake of it?

When s/t bad happens (like Gox). e.g. Pirate vanish.
Then BTC would be famous as the only money backed by drugs and ponzis. (Not that I would not invest any more in it)

Or when ppl figures out that the blockchain growth is not practical and/or cannot sustain a serious traffic of Tx.

According this logic, they must be in the business of catching falling knives then.

In any case, since Bitcoinmax is the largest PPT by far, it should ask a better treatment from Pirate IMHO.

Several others weekly yields seem now doubled or screwed up...

So if you are right paying anything for insurance on Pirate is pointless.

I tend to agree, for different reasons (a diversified portfolio can be cheaper and pay more)

Would you mind to tell us why?