Anyone wanting to "invest" in this, please read this first:
https://bitcointalk.org/index.php?topic=81357.msg1096382#msg1096382

If you have never heard of stock generation, read this too:
http://en.wikipedia.org/wiki/Stock_Generation

Maybe some kind soul can translate the gist of it in german for those that dont understand English.

Dont be silly.


Like I said, I dont think Patricks fund is a ponzi. Unlike you or pirate, he does disclose financial information and revenue streams. That doesnt mean Id be willing to invest in him because I dont trust his judgement at all, but a ponzi, no, most likely not.

Banks disclose their assets and revenue streams. Ponzi's do not. Moreover, its up to the creditor to prove his creditworthiness, not the other way around. If you go  to a bank and ask for a loan, the bank will ask you to prove your creditworthiness through income or assets; you dont tell the bank  to prove you are a broke bummer.  You could (and probably should) ask the bank to prove they are solvent before depositing there though.

If you dont want your scheme to be labeled as a ponzi, all you have to do is prove a credible revenue stream that can generate those interest rates and prove your assets. If you fail to do both, it should be assumed a ponzi.

Indeed. Its almost as if Gyrsur only wants to know what IP to DDoS?

only on an asset that continually loses value, and generally much faster than the dividend payouts. In the end you will lose on all those mining bonds, not win, but they arent ponzi's, just bad investments.

As Joel Katz argued convincingly, mybitcointrade (star/ziggy) would be a Stock Generation ploy, not a traditional ponzi:
https://bitcointalk.org/index.php?topic=81357.msg1087555#msg1087555

I also dont think Starfish is a ponzi, although any faith I might have had in Patrick and particularly his judgement is long gone. Dont know the others, wont comment.

I missed that then. Then again, it seems entirely plausible Pirate would refer to the number of coins in his wallet(s) instead of the principals + fictional accumulated interest.

It was gpumax. It works a bit like a pool, but you can buy the hashrate and send it to any other pool.
As for the loss or gain; its too early to tell. If we find one or even two more blocks fast enough, Fefox will make a profit. If we dont, then he will make a loss. On average you would expect to lose big time buying gpumax shares and pointing them to a pool with <=100% expected PPS, but that never stopped a gambler before

I dont think Pirate ever claimed 500K. I think people noticed a pattern in blockchain that matched his interest payouts and worked out a number based on that.

I would be interested, but concerned about import taxes, VAT etc since you are shipping from China. Have them shipped form the EU for a higher price, and Im buying.

AFAIK the estimate was made on interest payments that actually went out, ie, not reinvested. Using that to guess the total size of this might vastly underestimate the actual deposits if the bulk of it was  being reinvested.

I didnt miss anything. There is no mention of withholding information:
https://glbse.com/vote/view/104

As for the 2000 1275 BTC assets. You misspoke? ROFL.  Just like you misspoke when you thought your stock price was 10x higher than it really was?

BTW,  there is nothing panic about current mining bond prices, most of them are if anything, still way overvalued. Your failure to understand that is what caused this trainwreck in the first place, it seems you still dont get it.

Looking forward to seeing the actual numbers though;  can we trust you will take market depth in to account and not pretend you can sell everything at highest ask price?

You ignore the most plausible explanation; namely that he didnt earn any money at all and was just operating a ponzi. That correlates perfectly with what you see with that wallet.

I dont remember seeing a motion passed to stop publishing basic financial information. Did I miss it?
As for the "almost 2000 BTC worth of assets", show us the numbers.

Diablo, you received 1000's of bitcoins from your investors. If you are not going to say what you have done with them, what you still own and how those investors are ever going to see anything back, then its time to file for a scammer tag for you.

Why do you say that? Keep in mind that  the bulk of investors most likely compounded their interests. If you believed pirate was legit, it would be almost silly not to.  Precious few coins would therefore have to leave that wallet.

You mean "a big player" changed IPs. There is no new big player, and no sign of asics yet:
http://bitcoin.sipa.be/
You are correct that the blockchain is critically important to bitcoin, but who actually mines those blocks, or for that matter, with what kind of hardware,  is utterly unimportant to the networks health. All that matter is whats inside the block.

Guess what, the ownership of wallets is "hidden" too. Should blockchain be able to publish the owner IDs? Maybe private keys too? There is no need whatsoever to know who mined a block. Its interesting to know, and we have pretty good information on it, but it doesnt hurt bitcoin one yota if we dont know.

Joel, he was referring pirate BTCST thread here:

https://bitcointalk.org/index.php?topic=50822.0


Since then, and since Matthew posted his bet thread, Pirate announced interest will no longer accrue. There is no way Matthew can win his bet.

Gyrsur, calm down. There is no funny business going on here. We already told you blockchain just makes guesses. I think they correct their incorrect guesses after the pools publish their blocks, just like blockorigin scrapes pool websites to identify blocks. That big player from above is.. you guessed it, deepbit. Deepbit is the biggest pool, they run god knows how many servers and they are quite a  popular DDoS target. Them moving to a new DC or not putting all their IPs on their website is not exactly shocking.