I have over 40 tied up.  This was Pirates last "Fuck you" the to community.

The timing of suddenly inviting everyone and anyone after months of no movement at all was simply too convenient.....right when BTCST went tits up. 

Bumping this up......Still interested in 10-20 GH/s at the right price. 

I have a 5970 that posts, boots into windows, and seems fine until i try to mine with it. 

Make me an offer. 

I will sell you 25 singles for 2,500 BTC

Yes, the original promise was midnight on the 28th.....then yesterday he promised they were going out by the end of the day......and yet here we are. 

Sound familiar? 

No payments since 8/26

Hey all,

I have a BFL single available.  It seems to have a problem hashing on both FPGA's 100% of the time.  One works perfectly, but the other cycles on and off.  I have heard this can be repaired by re-setting the heatsink, but I am not brave enough to try it.  It averages 600 MH/s.

The 5970 I want to sell boots fine to windows, but does not seem to like mining.  I am selling it with ZERO garauntee that it can be used to mine.  I give my word it will boot into windows or another OS, and that is it. 


I would like 80 BTC for the single and 15 BTC for the 5970. 

 

I used Bitcoinica to hedge this loan, and now I have nothing to show for it.

It still hurts.....

I can understand that.  The lender is very well known on the forums, and has been part of Bitcoin since long before many of us even heard of it. 

I asked if I could identify him publicly, but he prefers to stay anonymous.  I am guessing that is in part to avoid the deluge of requests that would flow his way should people know he can lend such amounts. 

Fortunately for most deals that go down around here, both parties confirm it and the results are known to all. 

Well in that case, it just makes my point even more clear.  Matthew can only collect 15-30% if he is a whistle-blower......and any deductions will lower the amount collected by the IRS. 

Well, for this example it is really meaningless. 

ROFL. 

You are completely full of shit.  The AMT is designed to keep high income parties from using deductions to lower their taxable income to such a point that they pay an obscenely low marginal rate.  It is a parallel system that runs alongside the normal rate schedule, hence the name ALTERNATIVE Minimum tax.  It is not a fee levied on top of the normally owed tax.  Thus, the maximum AMT tax rate is 28%.  Claiming it is even possible to get to a 63% rate immediately betrays the fact that you know nothing of what you speak. 

Finally, Pirate would never fall into an AMT situation because he would have no deductions to begin with, and the effective rate on the "profits" would be nearly 35%.....thus leading to a higher tax than under AMT. 

Go Google some more. 

Stats down again? 

Nice try.

The reward is based on the AMOUNT COLLECTED.  Anyone who thinks Pirate has the full amount of 5,000,000 just waiting to pay to the IRS is smoking Peyote. 

Also, Pirate would only owe the TAX on the 5,000,000, not the entire amount.  So we are talking, AT MOST, about 2,000,000.....which would make the "reward" about 400K. 

And that dear friends, is what googleing a subject and becoming an internet expert on tax policies in 10 seconds is all about.  He wants you to think he is smart, but really has no clue what he is talking about. 

Another quick update regarding this loan:

Both the November and December payments have been made, and the next payment is not due until January, 2013. 


On a side note, given the fiasco that is Pirateat40 and BTCST, perhaps it is time for lenders to be a bit more discerning in their lending and have more reasonable return expectations.  Someone offering 3,300% APR is either gambling with your money or has no intent to pay it back.

People bitch, moan, and attack me for the fact that I only offer 10% to my lenders.  Wake up people.....that is a reasonable rate.  Expecting more is silly and an invitation for scammers. 

Example:  "Fuck you, I will never lend money at 10%!  Oh, this guy will offer me 2,000% per annum.....hell yes, take my money!" 


A scammer is going to offer whatever it takes to part you from your funds.  To compare those rates with a loan that will ACTUALLY BE PAID BACK is the height of ignorance. 

Just my .02 bitcents. 

The shares are directed to a private pool of the users choosing.....easy enough to verify that the correct amount of shares are showing up where they need to be. 

A lot of people are using it simply to manage miners......not engage in "leasing" shares. 

This is fucking brilliant. 

No worries at all man.....it was well worth the 2 BTC

So is this info implying Pirate was using investor coin to pay-out GPUmax operators?  I cannot say this surprised me one bit.....I have suspected it for a while. 

I am devastated that our bromance is over already Bitlane.....I thought we had something special......