Charity?
you passed an estimated 110000 BTC to pirate. Your cut was 0.1% or ~$1,200 per week. Not too bad for such a basic website, most people dont earn that much from a full time job. And that is assuming you did indeed pass the money through to Pirate, I would like to see some transaction IDs to validate that claim because for all I know, you knew exactly what was going on and pocketed a portion or all of those coins yourself. which would give you a very good reason not to want to give pirate your customer list.

I dont think its up to pool ops to take position on this. What if Pirate had a mining operation, should pool ops ban him? What if pirate buys hashrate from gigavps, should pools ban giga?

Miners can vote with their feet and stop using gpumax (at current prices, its no big loss), but I think its unreasonable to demand pool ops to do this.

Anyone who insures that for less than 99% of face value is scamming you, an idiot, or both.

I read "The family ties and identities have been confirmed". I would just like to know how they were verified before everyone goes after the wrong family.

But do you know (this) Trendon Shavers is Pirate? I agree with the above poster, confront the father with a picture of pirate and have him confirm that is indeed his son.  If that was already done, please post it.

On the address Mike confirmed, there is another company registered:
Sys Net
http://www.manta.com/c/mm850db/sys-net-inc

This leads to a new (?) name, Francisco Jimenez:

http://www.manta.com/g/mm850db/francisco-jimenez

mostly agree, although it would be good to know who defaulted and for how much. If you are going to pass losses on to investors, its only fair they know (and can verify) who they owe the loss to.

Inspired by Bitcoinbull's competition here:
https://bitcointalk.org/index.php?topic=103708.0

No prizes other than eternal fame.

Here are some to kickstart:

+10


Will the sockpuppet that still trusts goat please stand up?

Yeah too bad it sounds more and more like Pirate's one or two actually paid accounts and "23 paid account pending verification...".

Thats what he did.


You werent going to pay dividends for 3 months. As for being unable to trade. GOOD.

But Patrick is still paying out in full. Unless he still plans on doing that for everyone, that seems unfair.

Past guarantee both the equipment and the bond would be virtually worthless. The first months of asic mining are all that matter. If your dividends havent paid for your investment after 6 months, they never will.

Which is the ONLY RISK that really matters, particularly during the asic switch. Its a huge risk. The other risks wouldnt cost  close to 30%.

"Mining software crashes", it would restart automatically, and even if it doesnt, wouldnt account for more than 1%.
"Pool failures" failover pools solve that.
"Mining Variance (bad luck)" average expected loss: 0%.
"Facility failures" : like what, clogged toilet?
"Equipment failures:" you have warranty. Granted, the downtime would cost you, lets be generous and put it at 10% equipment failure and 3 weeks shipping delay and you get 0.5% per year.
"Power outages" If that accounts for even  1%, you should switch utility providers.
"Network outages" see above.


But the numbers will never add up to anything close to 5%, let alone >30%.

I can understand why you only offer upgrades to existing bondholders; only those duped in to buying your bonds the first time might be stupid enough to double down and be duped again even harder this time.

But is it a scam? No. Not more than selling 8GB USB sticks on ebay for $100. Its just a rip off.

As for the Pirate connection, I will just leave this here:



A solid 10. Pay attention to the date, which is well past Pirate's default announcement. Did you launder his coins for him perhaps?

Can you make his posts invisible to anyone but himself ?

Good point. What happens when you call it?

Great chart Dust!


If ? As if that is a question.
However, since OBSI is selling bonds, people cant withdraw their money other than by selling bonds to other suckers. There isnt much risk of a bank run. The worst that can happen for obsi is that no more new bonds are purchased and he has to lower price or risk stagnation. His profits are locked in. Much better scheme than what pirate did.

quoting this before its deleted. Subtract hashkings 1000BTC and Patrick is already in trouble.

More likely he did some IT for USArenovations and usservices. I also suspect those companies renovated and sold the house you linked to.

Pirates real address is much more likely the business cognition address here:
https://maps.google.com/maps?q=2812%C2%A0%C2%A0%C2%A0+Glen+Hollow+Dr%C2%A0%C2%A0%C2%A0+McKinney,+TX+75070-4267&ie=UTF8&ll=33.169092,-96.660744&spn=0.000974,0.001985&client=ubuntu&channel=cs&hnear=2812+Glen+Hollow+Dr,+McKinney,+Texas+75070,+United+States&gl=be&t=h&z=20&layer=c&cbll=33.169092,-96.660744&panoid=xnAVw-wfHoaXVwuJTdRpAQ&cbp=12,26.84,,0,0.35

Unless thats some registering agent.

The issue is not the delay (which will last until eternity), its that he lied in his contract, promised an insurance against pirate default while secretly investing that insurance money in pirate. Its a scam, there are no two ways about it.