20% uninsured is crazy.
edit: on the other hand, if you're insuring...
So, you either did 1 of, or a combination of the following 3 things: 1) You are calling Pirate a Scammer. 2) You are calling Me a Scammer. 3) You are trying to make your 28% return on 25% Insurance look better with the link in your Sig, by simply posting. I think you forget how YOU made most of your current bankroll, by offering 15% or LESS to users who didn't have a Pirate account, while taking the profits and thinking nothing of it. I do appreciate your vote of confidence in Pirate though....and considering how much BTC he has made for you (while you used other's BTC), I am sure HE would as well. Thanks again, bitlane. I did none of those things... just saying that it's irrational for people to give you a profit when you don't insure anything. They could just deposit with pirate. However, if you insure their deposits against a pirate default, it's reasonable to expect them to pay you for it. |
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I believe, to the best of my knowledge, that given the absence of any public financial disclosure and an extremely high rate of return that the Bitcoin Savings and Trust is a Ponzi scheme.
I'd like to make this a forum-based petition of bitcointalk users who agree with this. I don't want to do a poll, because I want people to commit their user name to this statement.
I'm interested in seeing how many people agree with me. I'd prefer to have any debate over this issue in a separate thread.
My theory is that if you want to develop community, then you need to figure out who to trust and what is a scam. Bitcoin has suffered from too many scams.
So if you agree, reply and say "I agree".
Well, I'm committing my username to the statement, "Pirate's BTCST is not a Ponzi scheme." Also, please state your opinion on GPUMAX, a nontrivial piece of work with a nontrivial amount of hashes behind it. Please state your opinion on, as previous posters have mentioned, Pirate's publicly known identity and address. Have you considered that if Pirate made it clear exactly what he was doing, everyone would be doing it? What financial disclosure, specifically, do you want from him? Note that even mining gives 10% monthly returns (and more, if you use Pirate's wonderful GPUMAX service). The Bitcoin economy is a high-yield economy. |
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20% uninsured is crazy.
edit: on the other hand, if you're insuring...
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The PPT bond's creators have created a jointly managed PR account. Please whitelist me.
BurtWagner/everyone else will be posting shortly to verify.
Verified. |
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The major advantage of the bonds is that you will lose "only" 68% of your money (or more if the bond authors break their promise), instead of 100%. In exchange for this privilege, your rate of return is half or less of what Pirate is paying out to other people (33.5% / 30 days).
In fact, our rate of return is <= 28%, and the market decides how much it really is. Pirate is paying much less than 33.5% to a lot of smaller investors who do not have accounts larger than 2k BTC... |
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& don't forget that one ebil genius (myself) could destroy Btca plus all who sail in her's funds at anytime instantly, it just needs $1.6M atm to jump the price up to $20 & Btca is history, now crowd sourcing the funds for vicious bear traps after in a language you probably don't know just for the lulz & the profit too  Is that you or "myself" |
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watching
It's discontinued... |
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I don't know how to get the data out, but I hope she keeps backups in the future.
I can't believe people are still walking around in 2012 without backups of important data.
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JUST missed it = 2nd place  I vote we create a smaller jackpot for 2nd place! I vote that you cabal of wealthy bankers up your pool stakes from a measly 3 BTC each per month to at least 30 BTC each  edit: or are you planning to double up each month if you don't win, 3, 6, 12, 24, 48, 96 coins each, that would make a healthy 480 BTC bet on game 6 if you hadn't already scooped the JP haha, it was actually 5 BTC each. Only three people joined this time |
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@bitlotto, ah yes cool Blockchain.info wallets are back to normal again - please feel free to send the loot at your convenience, no rush I make it 390.547 BTC total bets, less 1% is 3.906 = 386.64 Jackpot & donating 3% of that is 11.60 so say 375 BTC to me, or send the full 99% & I will return 11.60 BTC as a donation to your sig addey, which is probably the correct way for it all to be seen to be done - but as you like I note that this time it was the high rollers who got closest, there were only 3 lump sum bets in double figure & they got: 2nd closest with hash starting 0102 was from the 15 BTC bet 3rd with 0107 from the 34 BTC bet 4th with 011 from the 25 BTC bet anyway just in case that's any consolation to them, which I doubt, but best luck for June - maybe it will be even fatter The "banker's pool" 15 BTC this time around - JUST missed it. JUST missed it = 2nd place I vote we create a smaller jackpot for 2nd place! |
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I think we need one. The ones attached to banks don't really belong in Lending, and they get buried quickly in the Marketplace forum itself.
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You always have the most entertaining loan threads.
dank has always been the atlas of the lending forum  |
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There are many reasons why we're stuck in the 4.8-5.5 range right now. Chief among them:
(1) Psychological S/R after oscillating for a long time
(2) Sheer number of bids/asks
(3) Moves seem to be manipulated; consequently, profit-taking happens right after we get to $5.5 or $4.8.
For a bullish breakout, we need someone to buy a large volume of coins right when the price gets close to the top end, before any asks can form. This hasn't happened yet because it is a ridiculously stupid thing to buy at $5.5 due to the 3 factors above.
However, there is one account on gox that will be buying in such a situation, and that's Bitcoinica. For the past three times we've moved up to $5.5, we haven't had a starfish on the sell side, so the short squeezes were a bit too weak... but this time, all conditions seem ripe for a breakout.
If everything happens correctly, this is it.
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umad? edit: looks like someone shorted 10k btc  |
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Up we go again... what'll it be this time?
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Oh look, nobody really wants to short pirate at all Where are you, terrytibbs/popescu? |
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I needed a username, and I approve this message.
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Anyone willing to send a referral my way?
I'm a fairly small-scale miner and investor looking to diversify my holdings. I've been continually impressed by Pirate's enterprises and business conduct and would like to open an account at BTCST. I joined these forums (and Bitcoin) back last summer, took a few months hiatus due to life, and came back in December. If any further information would help, I'd be glad to provide it.
Thanks,
BinaryMage
...did you read the thread? :\ |
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