It is September in Bangkok.
So...what is it?
reading every new in this issue, but, havent seen, or missed, which day of september ? 1st is tomorrow  Somebody's trying hard to be ignorant. Yep, gizmo is. His grammar isn't great, but he's asking what day the announcement is supposed to happen. |
|
|
|
-----BEGIN PGP SIGNED MESSAGE----- Hash: SHA1 I hereby declare the bet decided, in favor of Vandroiy. A withdrawal request made on August 15 2012, is still outstanding as of today, Aug 30 2012, which triggers default as specified in the contract, via "late by at least 14 calendar days, in disbursing either any regularly-scheduled interest payment, or any withdrawal request, by a valid account holder of BTCST." clause. In private communication, pirateat40 has agreed with this assessment and conceded the bet. Since Vandroiy is currently traveling, we have agreed via private communication to set up the 10k BTC disbursement of escrowed funds sometime in September, when he is back. For your easy reference, link to bet contract: https://bitcointalk.org/index.php?topic=91661.msg1013589#msg1013589-----BEGIN PGP SIGNATURE----- iEYEARECAAYFAlA/+lMACgkQ5/k4vslVlLJoVgCeP2/oEcVMrA9zLev1l8AMXrgY srkAn1yX8t8Y0ADJTPrKIFKOBk6e3skx =fnN2 -----END PGP SIGNATURE----- |
|
|
|
yeah, that's about the level of response i'd expect from someone who's got a knot in his stomach.
yeah, that's about the level of response i'd expect from someone who's anus just tightened a few notches.  Someone seems to be obsessed with my body... cypherdoc, was this what you were really after when you invited me to go fishing? At least my phyzzz is safe . perhaps you could hide one of your gold bars up there? TMI  no, i'm not one of them. just happened to be in my work surroundings one time. I think I'd find a new job. |
|
|
|
So, apparently Vandroiy won this one? Or has Pirate actually paid all scheduled interest and withdrawal requests that were due two weeks ago or earlier?
If I understood correctly, he has until Friday. Vandroiy wins on September 1st if Pirate doesn't pay back. A default will be construed to have occurred, if at any time prior to October 1 2013, 00.01 UTC, BTCST will be late by at least 14 calendar days, in disbursing either any regularly-scheduled interest payment, or any withdrawal request, by a valid account holder of BTCST.
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. Right, bitlane asked for a withdrawal a few days before the 20th, then posted 3 hours later that he hadn't received it yet. Naturally, this caused a cascade of withdrawals because pirate was unplugged for a few hours. When he came back and needed to pay out a significant portion of his operating funds he said "fuck this, I'm done". I still expect a partial payout and I believe it could have been a full payout if there had been less of a shitstorm, but herds will be herds. |
|
|
|
So you're saying unethical is preferable to stupid. Thanks for admitting you feel this way. I will be sure to avoid doing business with you in the future. Oh noes you got me notme; I am shady. That is why you won't find a single person with an unresolved complaint. Feel free to take it that way and not do business with us. Then again we don't offer pie in the sky 3400% APR so I doubt you would be interested anyways.Still why so grumpy? Since I wrote that last post you "investors" have locked in another $300,000 or so in profits! What are you going to buy with your share? I'm not grumpy. I broke even, my pass through customers made a handsome profit, and I got kudos for paying my customers out from my own pocket. On top of that Matthew will owe me 200 BTC and Pirate may yet do a partial payout. I've got nothing to complain about, just thought your reasoning was odd and decided to point it out. |
|
|
|
But when he started opening up to public BTC, did he ever say no? Even something growing by leaps and bounds would need to setup some controls such as investment rounds. Perhaps he is a wizard who can plan for a completely uncapped investment flow. So far I haven't seen anything past speculation at his business model, far from the confident proclamations of "I've figured it out and you might be able to as well if you are resourceful" from some Pirate backers a while ago. 2) So much growth he doesn't seem to have a need to control how much inflow of investors there are? Opening up to the public with seemingly no limits or buy in rounds? I know this is an "internet" business but I thought the dotcom bubble and now facebook would have killed the idea of such growth.
There wasn't unbounded growth. There were people that weren't ever going to invest with Pirate. There were people that were only going to invest X with Pirate. Still others couldn't afford to buy more coins because they ran out of funds and/or the price was goin gup past their preferred purchase point. That only leaves the new coins from mining and obviously, that's limited as well too. He said no by lowering interest rates, like a free market business should. Too bad the FUD masters incited the herd to stampede for the exit  . |
|
|
|
Out of curiosity imsaguy...
1) How do you pronounce your name? I keep pronouncing it like I'ms (or Iams, like the dog food) A Guy
2) At this point, given the long delay and minimal communication do you think Pirate will be able to pay out the rapidly increasing debt he owes as per the terms of his post (principle + interest to the hour)?
1) Illinois Math and Science Academy (IMSA) 2) I've said and continue to say that I am going by the terms of the Vandroy bet which has a deadline of Wednesday if I'm not mitaken. When the bet was made, it seemed no one had issues with the terms, so if both sides signed off on it, I should be ok with it as well. It is frustrating to not have any information, but outside of filing legal action, there's not a lot I can do. Most lawyers (hell, even the credit bureaus) won't touch any sort of default until at least 30 days have passed, so it seems prudent to wait and see. So to answer your question directly, the longer things go, the lower my expectations. Much more respect for you now that I know you're not I'm "something awful" guy. |
|
|
|
The respect of someone that clueless, lost doesn't mean a whole lot.
I had more respect for you when I thought you believed it was a ponzi and were just looking to time it for max profit. Unethical but not stupid. This theory is just stupid. On par with ideas like "a rich person could destroy Bitcoin by buying all the coins" but nobody was ever foolish enough to invest on that idea.
In related news Mr-10%-OTC-Trader no longer only owes his creditors ~$5 mil USD.
It is now more than $6 mil USD and increasing at a rate of $0.75 per second.
500K BTC * 1.07 * 1.04 * $11.00 = ~$6.1 mil USD.
So congrats are in order I guess. All you "investors" just made another cool million (on paper)!
So you're saying unethical is preferable to stupid. Thanks for admitting you feel this way. I will be sure to avoid doing business with you in the future. |
|
|
|
Just that simple.  Yay! Another Pirate thread! Pick one  Why make another one when 4 of the top 6 threads in this section are already about "pirateat40 shit"? |
|
|
|
Just that simple. Yay! Another Pirate thread! |
|
|
|
I just want to say here that notme deserves a lot of credit for how he handled his passthrough (he paid back his subaccounts out of his own pocket). Kudos to him, man. That's not the kind of integrity you see everyday, much less on the internet.
HB
Thanks for the kind words. |
|
|
|
proposition 1A: anyone who replies with this pic from here on out is insta-banned.
which pic? This one:  |
|
|
|
can't vote
"Voting closed August 21st" |
|
|
|
I don't know anything about the interface to gpumax. Obviously for what I was talking about you'd need to be able to construct the block you sent out to gpumax workers. If you can't do that then my idea doesn't work.
Your idea would work if the timing were better. Right now, jobs are put into a queue and started manually from there. Perhaps once it's out of beta you will be able to buy jobs that start right away. |
|
|
|
How will this affect the folks in other countries?
Overall, should we expect the world-wide value of bitcoins to increase when the Japanese get involved due to the increased demand over there?
No, we should expect the world-wide value to increase because of the decreased supply over here. |
|
|
|
Anyone going to add to this?
BTCST customers all seem very secretive...
Or have they all been sent an email:
"shut up or you will definitely not get paid"?
Nice try, but no. |
|
|
|
Hmm 4 pages and still haven't reached 10 odd but I'll bite if it's free
Actually, just updated and you're #11 even after I disqualified one but i'm adding 10 more please thank the guy for donating $0.10 for me to do 10 more users, now you need to leave your address cheers to me for 4 posts in a row Lies, I set BTC0.10  . fixed. i though tthe sign was just a generic for currency But dollars are the smelly kind of currency. |
|
|
|
Can I start them whenever I want or do they start running automatically once the payment has been confirmed?
Neither, once payment clears they are added to the queue and jobs are started manually when someone is there to babysit. This is still beta. |
|
|
|
Hmm 4 pages and still haven't reached 10 odd but I'll bite if it's free
Actually, just updated and you're #11 even after I disqualified one but i'm adding 10 more please thank the guy for donating $0.10 for me to do 10 more users, now you need to leave your address cheers to me for 4 posts in a row Lies, I set BTC0.10 . |
|
|
|
|
Show Posts
