I noticed that some people communicated with Pirate using PGP-encrypted messages, which is smart.

It seems I can't log onto #btcst anymore.

The deadline for submitting the PPT information requested will be Thursday 10pm CDT.  Thanks.

Does anyone know what the situation is with pirate as a "partner" in gpumax?
I presume it's possible one of the other devs could take away enough info to set up a clone elsewhere...

For the record, I consider gpumax a better credit risk than BS&T - hell, if it does default surely someone can set up a clone.

It doesn't need to be repeated.

Nothing to do with this site in particular - any Forum that uses a DB (and are there any that don't?) will always have the entire history of anything stored in the DB in the DB log (this is how DB's that support ACID tx's work).

Even if the log is truncated after every backup it is common practice to backup the current log along with the DB so that if all backups have been kept then it is always possible to do a complete rebuild of the DB from an initial DB and all the backed up logs.

One approach to the "who owns how many shares" challenge, (I may suggest this to Nefario if he doesn't already have something else in the works):

- Allow an asset Owner to generate a "certificate" for a number of shares. Which then become "locked" in their account.
- They can unlock the shares at any time, which would invalidate the certificate.
- The asset Owner can then distribute a public key for the certificate, allowing someone else to verify they own the certified number of shares
- If at any time the certificate becomes invalid, any "subscribers" to the certificate, would be notified. (And it would show as invalid in the web interface).

This way if someone here for example wanted a seat on the board, they could email a request to the Issuer, who in turn requests a verification certificate for 5000 shares. They respond with a public key. Then the Issuer can use the public key to subscribe to  the certificate, and issue board member status accordingly. If the user decided to liquidate their shares they could do so without any "delay" but the Issuer would be notified immediately that the certificate had been invalidated.

This allows validation of share ownership, and it also allows maintaining privacy of the shareholders.

There are still some very reasonable people who think he'll pay back most/all of the BTC. If he loses both Matthew's bet and Vandroiy's bet and he hasn't at least started a reasonable repayment plan, I'll give him the scammer tag. (It's only symbolic at this point, anyway -- no one's going to be tricked into trading with someone involved in such a high-profile controversy.)

Passthrough operators will not get scammer tags unless they broke explicit contracts.

BTW, the forum has lots of good IP addresses logged for pirateat40 (he never used Tor) and 4077 PMs to/from him. This should help the investigation. I'd prefer to release this stuff privately to police, though I may release it publicly in a few months if no police officers contact me about it.

Yeah, because the only bump he hit was that far into it... until just that point, he didn't need to adjust inflows of capital at all. Oh and is his completely legitimate enterprise still offering compounding interest while shutting down? That's the most mind boggling part, he admits he doesn't have the BTC to pay it all out yet doesn't announce interest of 0%.

alright so just deal with it basically.

who's working on new forum software?

And when was this supposedly posted?  I don't see it on #btcst anywhere.

The last regularly-scheduled interest payments went out on Monday 13th August.  So the payments that were due on Monday 20th August are currently 8 days late, and will be 14 days late on Monday 3rd September.

I don't know the date of the earliest unpaid withdrawal request.  Perhaps that's where the date of September 1st comes from.

Did you see the post in IRC, #btcst?

1)  really?  seems like it

2)  any proof it's not?

You talked about OTC trading with 5% margins on both sides, and then some whales came in.  Please don't assume I'm Micon--I read these threads.

What did D&T get wrong?

OK, so what is it? I'm honestly curious about what wrinkle turns the madness D&T describes into a totally winning business plan. What's to lose? Pirate's shutting down anyway, and even though many continue to deny it was ever a Ponzi scheme, you know that hope is fading every day.

I wish that they would, but I'm not authorized to.

I'm a little late to the conversation here, but I've done a considerable amount of reading on this matter over the last few days.  Frankly, I've yet to see any substantial information on pirate's business model posted anywhere.  I've seen many who claimed they knew what pirate was doing, but nobody provided any specifics (for the typical dubious reasons).  The most detailed info on pirate's op I've been able to find is in this post: