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I noticed that Monday's winner was submitted after midnight UTC, so I'm retroactively changing the cut-off time for each day to 10pm EST (02:00 UTC next day).
It was said there would be many lol's when pirate's scheme collapses. So let's see them!
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if i were him i would hold onto those coins for many years, slowly washing little bits here and there.
If I were him I'd give people their money back. a) why? b) you wouldn't be able to. since the interest was (most likely) imaginary gains, the money he has is less than lenders' principal (totoal principal minus withdrawals). |
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to invest in pirate if he starts another fund.
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Winner for Tuesday August 28 is chosen! DanielVG, provide your bitcoin address to receive your award. [UPDATE: award sent from 1DUCK7StixdPxMCia8qgqQ6zoaGRdGRnqU to DanielVG] Runners-up: |
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All of the money will most certainly be properly refunded to the rightful owners. It's shameful that some folks around here would buy into the troll generated plotline that this is some sort of scam and all customers will not be fully reimbursed. Once again, panic and suspicion around here are outpacing common sense and trust. “On the day when we can fully trust each other, there will be peace on Earth.” I know we aren't there yet for the whole world, but for the Bitcoin community I think we need to make some effort before declaring people criminals with no evidence. I say that for Zhou Tong or Pirateat40 or anyone else falsely accused by this lynch mob masquerading as a community. Quoted for hilarity. |
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At least depositors only lost their principal. Don't feel bad about losing interest gains, because it was imaginary and never existed (instead, feel bad for believing your gains to be real).
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The investors understand the risk involved.... Others just want to have something to go nuts over..  To say they understood the risk involved contradicts most of their statements. That pirate was "highly trustworthy", that it was "highly unlikely he will default", that he "has every reason to pay his lenders back", that he shows "no signs of being a scammer", that there is "no evidence of ponzi", that it is "very possible to earn 7% per week" by any number of business models, that he has "always paid interest on time", "GPUmax", etc etc. So no, all these statements display a distinct and utter failure to understand that, from the beginning, default was the most probable if not guaranteed outcome. |
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Leandro César shows all the signs of a ponzi scheme. Unless you've withdrawn your principal from Leandro back to your own wallet, consider your coins deposited as coins lost.
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Pretty sure his "trusted escrow" will be another account of his. lame..
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1 BTC has been sent from 1DUCK7StixdPxMCia8qgqQ6zoaGRdGRnqU to 19j1Gum75LdYJ4ChHa919 Received! Thanks man, great contest..this forum needs for fun stuff like this.  Cheers. Don't "invest" it all in one pirate This thread is pretty awesome Thanks goat. You're a good sport. kind of you to run this contest but you might want to allow one per day per person.
otherwise quality will more then likely suffer?
We want quality and quantity. Unlimited submissions might lower the ratio, but should still total more lols. |
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You are telling me you have no evidence it is a ponzi... If you have it, and posted it somewhere please just copy and paste it here or link it.
You guys are asking me to prove it is not a ponzi but I think it is about time you guys prove it is...
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I think many here are so invested in the "ponzi proposition" that they're refusing to consider other possibilities.
...
Ponzi or not, there's no legal activity that I can think of that would allow paying such returns for any length of time.
We all did exactly what you just did. We considered it, and then rejected it as completely implausible. But even so, it doesn't matter. If something is indistinguishable from a Ponzi, and most likely a Ponzi, you should treat it like a Ponzi. If you have a gun that looks like it's loaded, you should probably treat it like it's loaded. Duck fallacy!  |
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Love it! Was wondering when someone would post a screenshot of that GLBSE chart.. submit this to my contest! |
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First day's winner has been chosen! 1 BTC has been sent from 1DUCK7StixdPxMCia8qgqQ6zoaGRdGRnqU to 19j1Gum75LdYJ4ChHa919aWG1UMEcS8LGR. honorable mentions: made myself:  13 awards left.. keep them coming!! |
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...mmm...Brunic, do you actually know what pirate was doing to legitimately earn 7%/week, or do you just have a theory?
It's the "unofficial" theory I could say. I can't say I know, since I'm only a small part of his business, I can only suppose. But this theory is a great business model IMHO. If I had the resources and the customers, don't worry, I would not be losing my time on this forum trying to explain it.  |
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BTCST was a short-term business that had to end, but GPUMax is the real deal. It's a miner wet dream.
What's so great about GPUMax exactly? Other than inspiring your wet dreams..  |
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By the way Zhou, JRO, Bitscalper all did the same as the above and no one is calling them ponzi's. Just scammers...
No, they didn't. For starters, none of the above promised a consistent x% per week. |
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But yeah that is only 1 key part of what pirate was doing IMO.
No I do not have a copy of his books but I still do not think he is running a ponzi.
Even if he takes the money and runs I think he did it cuz he wanted the money not cuz ponzi...
Now what if he manipulated or stabilized the Gox price while making trades. Like Lower when buying and higher when selling...
No way he could make a profit here... Must be a ponzi...
..[snip]..
Pirate never really told me what he was doing but I felt I had a good grasp of what was going on. The dip in and out of two transactions could make 10% pretty easy (5% on both sides, sometimes much more than that) so 7% actually seemed fair.
There is a small bit more, but pretty much my understanding. Also, you can see how hard it would be to unwind this. Keep dreaming!  |
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 your turn. make me lol |
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