https://bitcointalk.org/index.php?topic=105285.0

My list of current Ponzi's

Nothing Mythical about it.  Anyone offering to borrow more money at 1% per week after having already borrowed ~$200k USD and with a positive balance sheet appears to be a scam.  I am willing to debate this with you.  Please answer me the following question about your balance sheet:


this seems to me that you claim to owe 19,700 BTC to current depositors.  
you claim to have 37,100 BTC between cash / BTC / investments

Q:  Why would you ever need to borrow another satoshi at 1% if you have 17,400 BTC profit ?

These are very good questions and are key to understanding these scams:  

1)  Yes, I fully accept that there are a handful of legitimate users borrowing at these high rates (more than 1% per week, 10% for a 1 month loan, etc)

2)  however, there are not nearly enough of them (go add up a month's worth) to support the giant sizes of these high interest borrowing scams.  Vescudo alone has $25k USD on deposit with him.  RustyRyan has $6k USD on deposit.  PatrickHarnett has $100k+ with him.

Everyone says "look guys - people borrow at X% per week So I borrow at (X-1)% per week from you, handle all the BS, and we'll share the profits"  At the current size of this community, you could do this for a few hundred coins per month and make a very small profit.

Judging by PatrickHarnett's amateur-hour "My First Balance Sheet" for Starfish:

looks like he is loaning out $88k USD currently.  Seems like the community couldn't support a fraction of this.

ok you guys got me, off by a decimal.  Only $25k scam.

Current Deposits:
Code:
ID:        Depositor:           Deposit Amount:           Weekly Interest Rate:             First Deposit made:
ID_001        1sm1q                    100 BTC                     1.5%                           2012/06/24
ID_003        DeadTerra                 50 BTC                     1.5%                           2012/06/24
ID_004        der_meister               50 BTC                     1.5%                           2012/06/24
ID_005        gsan                     125 BTC                     1.5%                           2012/06/24
ID_006        IveBeenBit                50 BTC                     1.5%                           2012/08/18
ID_007        joyyen                   100 BTC                     1.5%                           2012/06/24
ID_008        Mushoz                    10 BTC                     1.5%                           2012/06/24
ID_009        Otoh                     304 BTC                     1.5%                           2012/06/24
ID_010        pyramining               100 BTC                     1.5%                           2012/06/24
ID_012        nimda                    1.5 BTC                     1.5%                           2012/07/01
ID_013        1GqbET4cd6                50 BTC                     1.5%                           2012/07/01
ID_014        Btc4Domains               50 BTC                     1.5%                           2012/07/01
ID_017        exahash                   50 BTC                     1.5%                           2012/07/01
ID_020        Maidak                     5 BTC                     1.5%                           2012/08/31
ID_021        SimBesh                   50 BTC                     1.5%                           2012/07/07
ID_022        isthisreallife          17.5 BTC                     1.5%                           2012/07/07
ID_025        EcmSeer                   50 BTC                     1.5%                           2012/07/07
ID_027        PatrickHarnett            50 BTC                     1.5%                           2012/07/08
ID_028        mollison                  30 BTC                     1.5%                           2012/07/08
ID_029        david113                  27 BTC                     1.5%                           2012/07/11
ID_033        OneEyed                   50 BTC                     1.5%                           2012/07/13
ID_034        gladamas                  25 BTC                     1.5%                           2012/07/13
ID_037        Onichan                   50 BTC                     1.5%                           2012/07/13
ID_038        jaebird                   50 BTC                     1.5%                           2012/07/14
ID_039        zebedee                   50 BTC                     1.5%                           2012/07/14
ID_040        Xenophon                  10 BTC                     1.5%                           2012/07/14
ID_041        area                      50 BTC                     1.5%                           2012/07/14
ID_043        thirdlight                10 BTC                     1.5%                           2012/07/14
ID_044        johnlu                    15 BTC                     1.5%                           2012/07/14
ID_045        cst                       20 BTC                     1.5%                           2012/07/14
ID_047        Soros Shorts              50 BTC                     1.5%                           2012/07/14
ID_049        zakariax                  50 BTC                     1.5%                           2012/07/15
ID_050        oneoctet                  50 BTC                     1.5%                           2012/07/15
ID_051        ElRaffa                   50 BTC                     1.5%                           2012/07/18
ID_052        slider1978                50 BTC                     1.5%                           2012/07/18
ID_053        pepelu                    10 BTC                     1.5%                           2012/07/21
ID_055        asfas16123                50 BTC                     1.5%                           2012/07/22             
ID_056        0xz[.]                    50 BTC                     1.5%                           2012/07/22
ID_057        drrussellshane           2.5 BTC                     1.5%                           2012/07/22
ID_058        gabbynot                  50 BTC                     1.5%                           2012/07/22
ID_061        Russel616                 11 BTC                     1.5%                           2012/07/28
ID_062        wachtwoord                50 BTC                     1.5%                           2012/07/28
ID_063        Koekiemonster             15 BTC                     1.5%                           2012/07/30
ID_066        Jaume_Marti             5.29 BTC                     1.5%                           2012/08/04
ID_067        juggalodarkclow            5 BTC                     1.5%                           2012/08/04
ID_068        walterkronkite         21.16 BTC                     1.5%                           2012/08/04
ID_069        biteye                    50 BTC                     1.5%                           2012/08/05
ID_070        phr33                     50 BTC                     1.5%                           2012/08/09
ID_071        Manolo_Lucena             30 BTC                     1.5%                           2012/08/09
ID_072        flix                       5 BTC                     1.5%                           2012/08/09
ID_073        Laura_Cañete            10.3 BTC                     1.5%                           2012/08/11
ID_074        rta                       20 BTC                     1.5%                           2012/08/12
ID_075        zaj                       10 BTC                     1.5%                           2012/08/12
ID_077        Justin00                  50 BTC                     1.5%                           2012/08/13
ID_079        MoinCoin               16.67 BTC                     1.5%                           2012/08/16
ID_080        1Pakis                    50 BTC                     1.5%                           2012/08/19
ID_081        psy                       50 BTC                     1.5%                           2012/08/19
ID_082        Boson                     10 BTC                     1.5%                           2012/08/25
ID_084        smell                     50 BTC                     1.5%                           2012/08/29
ID_085        Eisenberg                 50 BTC                     1.5%                           2012/08/31
ID_086        jaspita                   10 BTC                     1.5%                           2012/09/01
ID_087        TheOtherGuy                5 BTC                     1.5%                           2012/09/02
-------------------------------------------------------------------------------------------------------------------
Total Bitcoins deposited:          2586.91 BTC

report me as many times as you'd like and form any vigilante force you can.

This is yet another $100k+ scam taxing the BTC community and it must be stopped.  I will be asking VEscudero very on topic questions about the fake identity he created and the scam he is running.  I was right about BCST and Gavin agrees with me : https://bitcointalk.org/index.php?topic=105288.0

1) tyvm.  I would love to have you on my podcast, DonkDown radio.  I have so many questions.

2)  I now am blaming the mods for this.  I heard Theymos invested in the giant Pirate scam.  Now Mod John says in this 1.5%/wk scam thread : https://bitcointalk.org/index.php?topic=89122.180


and then quickly deletes it.

Why are the bitcointalk mods on the side of the scammers?

3) I have intentionally never touched the GBLSE or MPEX as it seems like the SEC should be all over that soon.  It is clearly inevitable given the SEC's history of aggressive action towards unlicensed securities.  .onion that thing ASAP if you ever want to see it again.

4)  I don't know how it took me and everyone else this long to figure this out, but the current crop of "Long Term Offers" and formerly "Lending" had nothing to do with lending - they are all *borrowing*   Maybe a forum with subforums of different borrowing %? 

Sticky at top of 500% APR borrowing forum that says "In the course of human history, every entity borrowing at 500%+ APR has been a scam of some sort up until now" ?

1)  Wow.  I had heard that Theymos deposited to Pirate, and now John is here defending a 1.5% per week "insured" "lender" there is no Lending here.  Only borrowing.

2)  John - please, I beg of you - please show this thread to a CPA, anyone over 60 that is solvent, a Laywer, Doctor, Accountant, Banker, Mortgage broker - please do not listen to me and please ask a person that understands finance that you trust.  I can 100% promise you they will look at this thread and the others contained here and instantly dismiss them as scams.

DeaDTerra - I am not picking on Patrick.  Patrick made outrageous & misleading statements in this thread that are once again going to lead to a large number of BTC users scammed out of their coins.  On the heels of BCST I think you should listen to me, I make a very clear point:

Here is an actual credit ratings:



The fact that you give an "A-" rating to a guy in business for less than 2 months offering to borrow as much money as possible at 3% per week is offensive to any man of science  

Why the mods decide to sticky misinformation like this is beyond me.

Patrick,
 
Here is one of your actual credit ratings:



The fact that you give an "A-" rating to a guy in business for less than 2 months offering to borrow as much money as possible at 3% per week is offensive to any man of science 

Why the mods decide to sticky misinformation like this is beyond me.

Quoting for when all of these fall apart. 

Patrick should not be giving credit ratings, and they certainly should not be stickied here.

Hi Vescudero.

Since you have nothing to hide, I see on your LinkedIN profile that you work for Altran.  A friend of mine is a consultant for them.  What division of Altran do you work in?  Where are you stationed?

you tweeted on Jun 29th that you were going to speak in a Panel of Experts.  Did you ever do that?

So in the wake of the Pirate BCST debacle, there are still tons of scams running, so it's time to clean up everything:

https://bitcointalk.org/index.php?topic=105285.0

1)  "long-term offers" couldn't be a worse descriptor for what is contained there.  "Buyer Beware" is appropriate, but would need to be legislated and I can understand not wanting to

2)  These are fake deposit programs.  They are fake entities claiming they are willing to borrow btc, and lots of it, at rates way higher than sustainable.  They are blatantly stealing money (again) and giving this a sticky:  https://bitcointalk.org/index.php?topic=81542.0  is just shameful.  A- rating for a 3%/wk scam?  and it's stickied once again?

3) Why not categorize these borrowing offers by APR?  if you classify them as 0-15% and then 15+ or 15-50% then 51+ then the scams would categorize themselves and no mods needed.

I ask you to join me Metal.

This culture of blatant scamming is embarrassing legit BTC operations like SealsWithClubs.  We can't be known as the scam-currency and expect to grow.

1)  you write numbers in an OP and claim "transparency" 

2)  you give other scammers high credit ratings and somehow convinced the mods to sticky it.

3)  your shameful actions are shameful.  I will be here to disrupt your scams and debunk them at every turn. 

Hi PatrickHarnett's wife.  Nothing personal, just hate scams and feel the need to protect BTC.  Your husband is running a scam, and while it may be hard to accept it is the truth.

PatrickHarnett - back on topic - care to enlighten us as to where the ~$200k USD on deposit with you is working for the investors?




Also how much cash?  BTC?  what are "investments" ?  can we see some Block chain verification, or real world verification on how this money is used to generate more monies?

[/quote]

no, like all of these: 



Also how much cash?  BTC?  what are "investments" ?  can we see some Block chain verification, or real world verification on how this money is used to generate more monies?

Once again JoelKatz nails it.

I will say it plainly:  I believe that PatrickHarnett is blatantly making up his statistics on number of loans, repayments, etc.  To answer the question he would have to block-chain verify these transactions.  When he posts his August stats, let's see some block-chain verified loan repayments & interest payments.

1) BTC is only a different currency, same principles of economics apply and are modified accordingly (i.e. taking in to account the deflationary nature)

2) the culture of "unproven business models" must stop.  If you are selling drugs and need to buy precursor, you are likely browsing this forum in TOR anyway, so post the pix when you buy it. Mining? show the rig.  Growing weed and need lights? borrow, buy, and post pix of grow setup.  I thought for sure there would be a SR bond on GLBSE by now.  There now exists a culture of "just send me BTC, I do something, and much like everyone else in this sub-forum I cannot tell you what I'm doing, but I'll pay you 1-3% per week and even though I'm profitable, I always need new money.  Businesses usually take on rounds of funding.  Seed money - start the business, then it grows.  How could someone doing something profitable keep needing more and more new investment?

3)  Just because Patrick posts a list he made up of loans outstanding doesn't make him "very transparent" - do we have block chain results for all these loans and paybacks?

I think he was referring to DonkDown or TheMiconSystem (an infobook a guy paid me to use likeness / make material for in 2005-7)

At this stage there are very few people I would do business with.  SealsWithClubs & FreeMoney are currently the gold standard for trustworthiness in this community.  

Attacks on others' credibility is deflection from the real issue - There are so many scams in this sub-forum right on the heels of BCST and it's time to clean them up.