That proposal doesn't seem right to me. Your asking for a staker's ROI % vs. a loaners ROI % and requiring a double deposit. I would be taking too much risk in that scenario. If you want to do a micro loan without deposit and such a high ROI, I suppose I'd be willing to do so to prove myself credit worthy.
High ROI? Your own topic says "10 BTC for 15 BTC in return". 1. you send me 20btc as a security deposit 2. I loan 10btc to you 3. you return 15btc 4. I send back the 20btc security to you Sounds all right to me. That way only I could ruin my reputation, and because you have a failure-proof strategy you are 100% planning to pay back. |
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Ok, so you don't require a loan to gamble because over the past 6 years your gamblings skills have been so good that you made a decent amount of money.
Luckily you are not in the reds where you would need to scam others to pay your open debts.
Appearantly you only want to build up your reputation here by asking for smaller loans first and repaying them with a nice interest.
Bascially, all off that is nothing wrong.
So, I offer to lend you 10btc for 15btc.
In return, I ask for a 20btc deposit as a security.
Since you cannot lose any money according to your statements, this is a win-win situation for both of us.
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Good points Bitsky.
If you did nothing wrong sounds like you'd be an ideal candidate to be interviewed with the SEC. Bitching and moaning on these channels is going to do nothing to recover your funds. Just ask the MyBitcoin, Bitcoinica, Bitfloor creditors.
"I sent a two-digit sum to a PPT who maybe forwarded it to Pirate. Oh, and I'm not even on your continent". That's pretty much all the information I can give. We gave money to strangers promising fantastic returns and paid the price for being that stupid.
Nobody will ever see a single coin of his invested money again. Ever ! No matter how many mails or pm you people write. I wish an angry bastard mod would lock this thread so we can move on.
I think most have realized that by now. My loss doesn't ruin me in the slightest (I'm annoyed though, sure). But I can't understand that even those who lost tens or hundreds of thousands of dollars are doing nothing. Talk about PR. |
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Why PPT operators have to go SEC?
They from start said they just acting as pass-through only & if pirateat40 defaults, they also default.
Pirateat40 defaulted, so all other PPT's defaulted.
Game over PERIOD.
PPT operators have refused to work with Pirate on a repayment plan (how that would have ended is an entirely different topic) by releasing information even when their investors gave permission. They said that only they are investing with Pirate, so who their clients are is nothing Pirate should know and he has to pay them only so they can forward the investments. At that point they made the clear statement that they take responsibility by refusing to let end-users settle with Pirate (again, if that would have worked doesn't matter). Now the PPT operators stay all quiet and don't even reply to a PM anymore and refuse to cooperate. For me this raises questions: - would it have been possible to settle with Pirate directly? (chances are low, but we will never know) - are PPT operators dropping this because they earned enough and have no personal losses to care about? - if no, why aren't they trying to get at least some coins back? - if yes, why isn't my withdrawal request (made before Pirate admitted default) fulfilled? - why are they refusing to even reply when they made such bold statements when it all started? |
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I wouldn't really call Pirate a victim.
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It makes no difference to a PPT purchaser whether their money actually goes to Pirate or not so long as the PPT operator pays the purchaser exactly the same amount as what Pirate would have paid. The only "victim" of this "scam" is Pirate!
True, it doesn't matter for as long as those who invested via a PPT get paid. But if a PPT uses Pirate as an excuse to keep funds, then it matters because it basically is a completely seperate scam. If all funds were forwarded to Pirate, the PPT is left with nothing; maybe even with a loss in case he paid withdrawal requests from his own stash while waiting for the coins from Pirate. However, if a PPT ran his own investments/ponzi disguised as a "honest" PPT, he can claim that everything was lost thanks to Pirate although there are still coins under his control which could be returned. That would mean that there are two different scammers: Pirate and the PPT operator. One gets all the blame while the other walks away whistling. And it doesn't really help that PPT operators stay all quiet and refuse to help. |
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Again, this argument goes nowhere. Suppose this is true. Your damages are $0. So what difference does it make? Yes, if they could somehow have guessed correctly when Pirate would default, they could make a ton of money that way and nobody would have been harmed by it. So what?
So you are saying that a bunch of possible scammers can be let off the hook just because they lied when they said that they invested with another scammer? If each and every coin from a PPT went to Pirate, well, bummer. But if only a single coin was not passed through, then the PPT should be treated just like Pirate. Let's look at the following hypothetical scene: 1. Pirate starts his business 2. PPT's pop up everywhere 3.1. PPT operator sends every coin to Pirate but pulls out before he defaults, or 3.2. PPT operator uses all coins for other projects, or 3.3. PPT operator simply keeps all the coins 4. Pirate defaults 5. PPT operator keeps the coins and Pirate gets the blame What you are now saying is that this does not matter although those PPT operators could in fact pay the investors back. If you have a criminal intend and jumped onto the bandwagon, the chances to get the blame is reduced by 50%. |
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Also, in another thread someone argued that we can't really be sure if every PPT forwarded all coins to Pirate, or used some/all for their own investment plans.
I'm not saying payb.tc did, but that argument has been going around in my head since then because it would open up another can of worms.
I don't see where this argument goes though. If you pay someone to do something knowing that they have no way to prove whether they did it or not, how can you later complain that they can't prove they did it? And why would it matter anyway since the consequences are the same -- the money is lost -- either way? What if the PPT decided to invest the coins somewhere else? Most investors left their interest in the PPT. Now that Pirate defaulted a malicious PPT could keep the coins, knowing that Pirate will be blamed for the loss, and get away relatively easy. |
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We should consider payb.tc scammer for that reason, he should keep the website fully functional until the matter is clarified. Imporper communication and no funds means scam.
Unprofessional? Yes. Scammer? No. Come on, which money did he steal, again? Did anyone of you even contact him? Ente Actually, I did. I asked for PGP signed account balances for everybody: - https://bitcointalk.org/index.php?topic=83904.msg1224833#msg1224833 - https://bitcointalk.org/index.php?topic=83904.msg1281553#msg1281553A week ago, I pm'ed him and asked for a confirmation of my account details. So far, I have not heard anything from him. Also, in another thread someone argued that we can't really be sure if every PPT forwarded all coins to Pirate, or used some/all for their own investment plans. I'm not saying payb.tc did, but that argument has been going around in my head since then because it would open up another can of worms. |
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I realize the info is proly around, but no time to find it - can someone tell me exactly how much bitcoinmax had in total in btcst at the time pirate shut down? I've heard it was around 120K BTC.
sure, if there's anything i can do to help that doesn't require thousands of dollars in lawyers fees or plane tickets, please let me know. Did you try to contact payb.tc? Hi! I'm a bit late but, WTF?! Who wants to buy this shit?! Bitcoin Max
Logged in as: ThiagoCMC (User #374 of 373) Balance: 110.74501165 Next Payment: 7.64140580
Sum total of older accounts: 167728.74239044
Deposit Address: XXXXXXXXXXXXXXXX
Account History | Earnings Reports | Account Settings | Change Password | Withdraw | Log Out
Account History
Showing latest 4 transactions. Check for new (confirmed) deposits.
Date Description Amount Balance
2012-08-27 21:00 Interest Earned 7.14818129 110.74501165
2012-08-20 21:00 Interest Earned 3.59683036 103.59683036
2012-08-17 05:30 Deposit 95.00000000 100.00000000
2012-08-17 04:00 Deposit 5.00000000 5.00000000
Can you guys believe that I jumped in on day 17?!?! I must be the luckiest guy on this forum... lol Tks! Thiago So assuming nobody else sent BTC after that, the sum of all unpaid coins should be 167728.74239044 + 110.74501165 (which includes interest). |
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expanding my storage why not do raid 0?  |
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@payb.tc
I would like to repeat my request to you to repair the login section and provide PGP signed balance information there after posting your public key here on the forum.
Or, if that's too much work, PM me my last balance information.
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Because payb.tc insists that he, not pirate, owes us bitcoins.
Would be fun if he'd pay us back then. I still cannot believe how bad my luck was. I made a withdrawal request literally a few hours before Pirate admitted default, but thanks to the "it can take up to 24 hours to process withdrawals" I got nothing. |
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Small fortune from 17:43-20:09?
In total 02:26, or 2.4333 hours for 21*0.0017=0.0357 BTC which means 0.0147 BTC/hour
With MtGox listing $11.93818 as the average currently, that's $0.1755/hour.
There are complains in the CrowdFlower forum about those low payments.
Warge should look for alternatives.
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The site has been promising when it started and I made a few coins there, but over the past months I've stopped using it.
I logged in again a few days ago to see that I have only japanese tasks, and I'm nowhere near Japan or proxying.
The company behind it, Crowdflower, seems to be really clueless when it comes to solving problems: their support site is flooded with complains and nothing really gets solved.
Also, the rewards have dropped constantly to a level where you can earn more by going for a walk and looking for a penny on the street.
That's pretty sad, because I really liked the idea.
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It's somewhat amusing that those "get over it and forget it" people cannot get over it and forget it, but keep popping up in every Pirate thread to preach with a missionary fanaticism their boring litany.
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Assuming the message post by Bitsky is genuine (...)
It is. 1BTC isn't really an amount I'd consider for an extortion. |
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Creepy programmers are as common as blondes who use almost-topless photos as their twitter profile icons for attention whoring.
Prejudices work both ways.
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He could, but he won't.
Payb.tc stated that he won't transmit the account infos:
1) Not relevant (there is one bitcoinmax account with pirate, where payment is awaited)
2) Payb.tc doesn't want to be left out if there will be any bitcoin coming back
Couldn't find his exact post back to page 87.
I already tried to find a compromise some pages back, but payb.tc didn't react to it.
I, personally, will just sit back and save my breath/wrath/compromises/whatever for the time when there are actual coins to distribute ;-)
Ente
<advocatus diaboli> When shit hit the fan, he didn't mind that accounts were traded; he just had to acknowledge that the stated balance is correct. Signing each account wouldn't be much different. Mind you, I'm not suggesting to make all balances public, but to present a signed personal balance to each account owner when he logs in. 1) Relevant. Should Payb.tc run/vanish/explode, nobody would be able to prove his balance. A public PGP key and signed account details would be a good "dead man switch". 2) It would not matter in case Pirate ever pay anything back (I know). Payb.tc got a little more interest than he passed on, so account balances won't change (unless only a percentage is paid of course) </advocatus diaboli> If you sell your account you would still need him to change the withdrawal addresses. If you magically succeed to settle with Pirate directly it would be easy to see because the withdrawal address received a payment. I suggest this just to be able to prove my balance in case anything happens to Payb.tc. |
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So I sat down, installed Litecoin in a VM along with PHP and JSON-RPC. A few hours later, I sent you the litecoin.conf, the PHP snippet to create new addresses along with an explanation on how to use it.
If you later lost interest then that's not really my problem to be honest. You received what you had asked for. How did you sent the material to him? It wasn't much code and the conf wasn't big either, so I sent it along with the explanation in a PM. |
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