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rL6NLWqPQd8dymP6hXZVSLsBU1SNRLT7wQ
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Perhaps, not trying to annoy anyone, but considering everything, I think the likelihood that either he's a Ponzi schemer or that he's just slowly waiting to obtain money via other means (possibly to annoy people?) are much higher. I doubt he'd have any reason to put _all_ of the money in LR. |
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the US government is pretty badass imo.
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People do realize that the FBI for example has a internet crimes division. They employ data analysts, statisticians, forensic accountants, computer experts, etc. FinCEN deals with ponzi schemes and other "investment" scams everday.
They mostly track pedophiles who use bitcoin to buy kiddie porn on Silk Road. I though SR had a no harm clause? Yeah, SR specifically states no weapons, no CP. They just want to sell drugs to consenting users (on that domain at least, Dread Pirate Roberts has had weapon dealings attempts). There are other sites however that apparently list "no moral boundaries" on their market. However, most SR users probably don't want to see that shit. |
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So at this point, although it's not yet confirmed that it's a Ponzi, the past 48hs do seem to confirm that Pirate has no moral problem with his customers jumping off a cliff due to his own lack of transparency.
Playing devil Pirate's advocate again; we dont know how much he told his customers. Remember there arent that many, and they generally seem quite confident. Its their customers customers, all the passthrough, bonds etc holders that are jumping off cliffs. There are people selling BTCST accounts for under their face value, these people are pirate's direct customers and they have been left in the dark. Pirate is undeniably ignoring his customers' worries. Disclaimer: I have 4 BTC in some friendly bets against pirate. |
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Great idea, I think this could be useful for people placing bets on pirate's repayment.
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any lender since more than 3 months got more interest as his investment ... early adopter since November 2011 tripled (at least) their placement ...
Yes if they started at close to day 1, never compounded, and never increased their "investment". How many people do you think fell into the category? The ponzi scheme works because the classic distribution model is. Day 0 - "7% that has to be a scam" Day 14 - "Wow he made two payment. Well I will risk 100 BTC. Call it a gamble" Day 21 - "Got me 7 BTC - I will withdraw it play it safe" Day 28 - "Another 7 BTC. Hmm. I mean if I compounded these I could make 3400%. What if he caps deposits?" Day 29 - "Depositing another 100 BTC plus the 14 BTC interest." ... Day 80 - "Wow on paper I now have 500 BTC. Ok time to go big. Let me deposit 500 BTC more and compound everything". ... Day 150 - "PIRATE WHERE IS MY MONEY YOU OWE ME 2500 BTC" Of those two cashflows which do you think is the overwhelming majority of the 500K BTC?  "All this has happened before and all it will all happen again." Yeah, you hit the nail on the head. Ponzi schemes commonly rely on people compounding and wanting to throw more money into them. |
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Alright, I'm game. I'm not 100% positive he's a Ponzi, but I've been damn suspect since the beginning. So, I'm up for a friendly bet.  2 BTC 1DyFUonZeyTxpEQyu7XJWgVmhv3xbjieB2 No real rep on the forums but I've got OTC rep and I talked to you on IRC, hope that's enough |
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If Pirate won't return the coins I think somebody should teach him a lesson... is he hard to be found?
The people who bought from him should thank him for teaching them a lesson - don't invest in something you know nothing about, especially something that keeps needing more and more money just like a Ponzi scheme. The way I see it, people got what they deserved. He's probably fled, if it were possible to find him, it likely is not now. That could very well be the reason (or a portion of the reason at least) he's been delaying lately. Of course, I am just speculating, he could pay up still, but my gut feeling has been that he's a scammer since the beginning and I think the fact he's paid nothing so far is quite telling. |
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Still no payments? I'd been pretty sure this guy was running a blatant Ponzi scheme from the beginning (and yes, I've got a bet down for a couple BTC, my money is where my mouth is). Well, this should be fun to watch. I can't believe there are still people who think they're getting their money back.  |
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Just wanted to give everyone an update - I got a copy of the executable. It was (very strangely) a 64 bit executable, autoit based. I picked it apart and learned that it sends all your coins to 13omHEevM54wA2jUjTTGs7wWTRj4UmP1XB, via automation of the bitcoin GUI. Decompiled source here: http://3d3.ca/pbY. It does not appear to do anything with a yubikey in reality. Tiny but amusing. Judging by block explorer this person hasn't been too successful unless there've been other addresses used too. I mean, I had to manually decode this base64 from the email and pick apart the 64 bit executable, so I have a feeling whoever wrote this malware wasn't too bright. No packing was used on the executable even. |
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If anyone gets a copy of this exe, please PM me on the forum or email me at ultramancool@gmail.com. I'm a malware reverse engineer and I'd love to get my hands on this. I'll be sure to share details of what I find with the community if anyone has a copy. |
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But not by hackers! Someone reported the first theft of four physical bitcoins in a recent burglary. Oh I forgot to mention out of the first batch of coins I purchased I had given a few away, 4 of them had been physically stolen in a burglary, the guys had been later caught and some of the items recovered, jewelry etc,, but no bitcoins not sure if they got spent/sold or what I find it novel to point out that this is about the only way physical bitcoins can be stolen... same as cash. The four physical bitcoins are active and legitimate, so nobody needs to worry about their own coins being at risk. Not really, casascius could theoretically have the private keys. Never trust that he doesn't because there's no good reason to - only use your own generated addresses, print them out on paper if you please. |
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Would it be possible to bring Mt.Gox up at a scheduled time to avoid advantages to certain people due to downtime? Can we get a confirm on this being caused by the BTCex.com guy?
You'll never be able to prove who is responsible for the DDoS. I'm perfectly aware of this, mostly just wanted to mention that it's the largest potential suspect so people don't flock to it. |
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Would it be possible to bring Mt.Gox up at a scheduled time to avoid advantages to certain people due to downtime? Can we get a confirm on this being caused by the BTCex.com guy?
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My bot (bitcoininfo) is now following your bot  You have been bot followed! Also, thanks for the donations guys, unfortunately I can't seem to get any bitcoin connections right now, port's connectable, kinda strange, perhaps I should just add some startup nodes... |
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Hey everyone, last night I hacked together a quick bot to monitor trades on Mt.Gox and post them to twitter when new ones are detected. This bot isn't bulletproof, don't get too dependent on it, it might go down and twitter certainly has it's fair share of problems, but it's been working well all day. It might be up to 200 tweets/day, but if anyone's interested in a quick way to get notified of trades, including the ability to be notified of trades via SMS, it might be worth a follow: http://twitter.com/mtgoxtradesEDIT: If anyone feels like donating, even a bitpenny is appreciated, 1LFrhMsbWGyePbBK2sdTk7MYkkQCXFN9w6. EDIT2: Also, a twitter logo would be nice if anyone has suggestions. |
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