Very much in agreement regarding bitlc. That's been one of the pools my proxy has hopped for quite a long time now - the unfortunate fact of the matter is that whilst it's profitable to do we'll keep doing it.
However, how did you come to your conclusion that only 6.7% of deepbit's hashrate pre-hop is pool hoppers? I was under the impression that ~500Ghash was hopping that pool, just like with Slush.
It's an estimate, using the median average hashrate per round after 2*D as the fulltime miner hashrate, and the median average hashrate per round after 2*D as (Fulltime + hopper) hashrate. It's close to results I've obtained in the past using more accurate estimations. I've noticed that the hop hashrate at Deepbit has been much less than when I posted NPW2.2. Interesting... There has been a bit of a ban wave on there lately, but mostly for larger hopping accounts (>5Gh/s or so). They don't seem to be IP banning yet. |
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Very much in agreement regarding bitlc. That's been one of the pools my proxy has hopped for quite a long time now - the unfortunate fact of the matter is that whilst it's profitable to do we'll keep doing it.
However, how did you come to your conclusion that only 6.7% of deepbit's hashrate pre-hop is pool hoppers? I was under the impression that ~500Ghash was hopping that pool, just like with Slush.
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so people are throwing $10,000 away, selling these at a loss because they will probably never see the money from pirate again?
Well, this person already threw >$20,000 away  |
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so.... people are seriously still using this service?
u guys know the owner owes 100k's of BTC in a seperate obvious scam?
And we should care... why? |
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20th, 21st & 22nd paid. Catching up |
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All of you are a part of this theft.
No! No no no. They went and gambled and had some fun. I think they really believed in his business. They're victims, not thieves.This isn't a productive path to go down anyway. Why, because they were complicit in bringing in massive amounts of new "investment" to an incredibly shady lender running a ponzi scheme, all the while trying to shut down any questioning of the scheme and conspiring to maintain opaque accounts etc? Well fucking waaa. I feel so sorry for them.  |
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when did i ever:
- imply that pirate is not operating a ponzi scheme
- imply that i knew what the hell pirate was doing behind the scenes
- imply that i knew the true identity of pirate
please supply direct quotes for the above.
I'm waiting for p4man to do the same for me... Slandering fools they are... @ Vlad At first when your mag called this a ponzi I was happy cuz I knew that when it was shown not to be a ponzi your mag would lose face. But then I realized the odds are much greater that your mag goes out of print way before Pirates bank closes up...
@ Raphy Yes, I will insure Pirate funds (as stated in my insurance thread). The reason for the fee is not because of the ponzi risk but because of other risks. Real risks that no one seems to ever point out cuz they can't get over the ponzi theme. Also there is a fee because opportunity cost. If I use the BTC for insurance then I can't use it in other places.
The one thing that I have noticed is the more people yell herrp a derrp ponzi the more people invest after checking it out. You guys are helping this grow. No one with half a brain thinks it is a ponzi...
6 months from now you will be calling ponzi, 1 year from now you will be calling it a ponzi. We get it you think it is a ponzi move on unless you really have nothing better to do with your life. For starters. You knew enough to meet him in Vegas along with all the others who are now a part of this too. All of you are a part of this theft. |
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What red flags were there that the payouts were coming from scamming others, child labour or extortion? Many people accused pirate of nefarious activities time and time again, and each were shot down very quickly.
The moneylending and Silk Road accusations were never ever completely refuted. The silk road doesn't have enough traffic to support the level of Pirate's liabilities. Surely that of all things tells you how crazy this is?  |
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if he was a scammer i'm pretty sure he would have taken the bitcoins and went to enjoy life instead of getting flamed on irc and forums 24/7..
aye, one would think. I would imagine that $5m could buy one hell of a fire proof suit though. ;p this really was a Ponzi, he wouldn't have $5M in coins. He would have been paying interest on old accounts with new money. Based on some rough estimates of deposits and interest paid, BS&T would have, at most, only 10s of thousands of BTC, not hundreds. You can't run very far and buy much protection for under $1M USD. Why only tens of thousands? Much of the interest paid each week came straight back, there's every possibility he's ended up with a few hundred thousand coins. |
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And the difficulty just went up by 11%, so be prepared to make even less! Depends, I'm currently paying miners on my hopping proxy more than any of the regular pools paid PPS on the old difficulty |
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Logged in as: bitcats (User #138 of 373) Balance: 84.74492159 Next Payment: 5.84739959
Sum total of older accounts: 87155.84157256
Selling for 50 btc interest PM me! Thank you
Based on GLBSE and the forums, market value at this point is 25-30BTC and falling. You're extremely unlikely to get out with more than that at this point. |
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I will give you 100 BTC.
Given the developing situation, I don't think that is lowball.
125 BTC You're crazy  Unless this is a hedge for Matthew's bet? |
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By the way, now even the hare-brained should get second thoughts. The pirate has decided to shut down a business that ostensibly produced $50,000 per day. He does not gently wind it down over a couple of months. Instead he shuts it down from one day to the other, citing the reason that he wants time with his family. He does not pay out at least his bigger accounts, although each day would cost him another $50,000. How much crazier can it get? This. I wonder if an apology will be forthcoming any time soon... Oh, and BurtW still hasn't updated his bet thread. Using mark-to-market (y'know, as you do for debt instruments like this) I figure he's down about 6500BTC. Except he's not, because he almost certainly never made that deposit |
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price update 80btc
I suggest trying PMs Hi fuxianhui888, I'm happy to pay 50% at this stage, so 80BTC. Let me know  |
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So yes you can make 10% a week on a capital, miore on that later.
Please, explain how you can make 10% a week by borrowing at 3,600%. No I didn't mean 10% on top of a loan, but 10% on a capital. Please, explain you how can make 10% on capital by borrowing at 3,600%. If Pirate doesn't need to borrow at 3,600%, why in the heck is he doing it? Because he likes wasting a buttload of money? Oh sorry I was just trolling, you can't make more than 5% a year, I was so dumb thanks for opening my eyes. Ok i'm done. Bye. I think you'll agree there's some difference between claiming it's possible to reliably make more than 5% per year (it is) and claiming it's possible to reliably make more than 10% per week, or slightly over 14000% per year. |
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Joel hits it dead on the money.
I have resisted the temptation to break out the "Gee, everybody told you so..." bat and beat the community over the head with it thus far on this one... but really? Does anybody think that there is going to be one thin dime forthcoming on this latest chapter of "How I Spent My Summer and My Fortune Getting Hosed On The Internet"?
Wait for it kids, in about 46 hours there will be a huge announcement that all of his work and effort has gone to naught and the entire repayment sum was hacked. It's the obvious play after the stalling runs out. There will be some vague little tease about what he was doing with the money (re-inventing the internal combustion engine to run on water, or brokering AIDS vaccines) and why it was the single most profitable concept in the entire history of the human race, and only one glorious little hacker was ever able to figure it out. But he needed a little time to spend with his family, and hadn't really slept for 6 months, so the idea doesn't work now, he got hacked and gosh, I'm sorry, but all the funds are gone. And if you will please check the very fine print on page 397, paragraph B, subsection 134R, you will all learn that since this was a SPECULATIVE investment, there was never any guarantee that you would ever get anything back. Too bad, so sad, but it's all over now.
And the diligent little army of love slaves will rush to his defense and tell us how he really does deserve a chance to help raise his poor kids, and sleep really isn't over-rated, but vital for boy geniuses, so it's okay. And besides, he promises to work it off and make good to the three people who stood by him.
And the only reason he won't pay off the bet is because he doesn't trust that the donation will be made to the right charity, so that will be null and void too.
FFS, people, read your scripts. We've seen this whole act before, and chances are pretty damn good that some other brilliant scammer will be around shortly to fleece the next round of the willing and ignorant.
And for the TL/DR crown... YES, HE DEFAULTED. YOU ARE SCREWED.
^QFT Although personally I'm waiting another week to break out my "I told you so" mallet. |
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<_matthew_> I did my books and I'm able to go as high as 20,000BTC if need be.
<_matthew_> Which I don't think anyone will be dumb enough to take me up on,
<_matthew_> but I wonder how many people will be using me to hedge
<_matthew_> People shoud just sit on their investments and understand the risks
<_matthew_> Running out on things costs money
<_matthew_> (Makes me richer though)
Oh dear. I tried to take him up on that, he was unable to get the coins for escrow  Oh well.. Interesting - when I first made my bet I did think he at least had the ability to pay... |
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Bumping - I just bought a 200SX so I'm not in the market right now, which is a shame because from your numberplate I'm an 2 hours away at most and that's a decent price |
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Investment for Dummies. +9000 |
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