He won't want one soon, since the passthroughs pay more now...  |
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Selling high volumes through lending is quite genius imo, even more so than any ponzi scheme
Keep in mind I'm just speculating and I don't dismiss pirate's op being a ponzi or some other scam. I've just tried to see what are the possibilities to run such operation legitimately and to find plausible explanation how it is done and interested in other's opinions on my findings
I'm still curious how, in your scenario, Pirate could pay back his lenders without driving the price up and defeating his purpose. No sarcasm here, I'm really wondering. |
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where the hell does he then get the BTC to pay back his "investors" once he sells the borrowed BTC to that group??
Maybe he just borrows it Wait... |
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Hey, Goat. Stop being an asshole, OK?
Point to me which of my posts was an off-topic troll on Pirate's thread, please.
In fact I have the opposite opinion of Maged and BadBear, but I will not let any of you attack them for stating their own opinions, or else I'm opening the door for people to attack me and/or try and silence me just because there is a title of Staff under my username.
What you said just proves that you didn't even read any of my posts on Pirate's thread, and just assume I'm anti-Pirate because there is Staff written under my name.
Way to be blind, asshole.
+1 |
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I used to believe that too.
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What if he continued to raise the same, already answered, question.. Like a skipping record during a gymnastics floor routine at the special olympics?
If this wasn't such a shitty joke, I might consider getting offended. Sorry bud, stick to your day job for now. I'm not sure why you would be offended, unless it was your floor routine? [Edit: Or you are outing yourself as a sockpuppet?] [Edits Edit: If you really are a special olympian then please accept my apology] Oh, damn. You caught me. I'm a spooky sockpuppet! Two edits? Sounds like somebody's feather are ruffled. |
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What if he continued to raise the same, already answered, question.. Like a skipping record during a gymnastics floor routine at the special olympics?
If this wasn't such a shitty joke, I might consider getting offended. Sorry bud, stick to your day job for now. |
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I can think of four explanations.
Pirate closed the thread because:
1: it is a Ponzi: Vandroiy, hazek, et al were getting too close to home.
2: it is or isnt a Ponzi: Pirate wanted to put an end to imsaguy's email notifications
3: it isn't a Ponzi: Pirate was tired of insults.
4: It is or isn't a Ponzi: pirates angrier investors privately requested him to lock the thread
I can't help but think its 1.
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1 sale a day is a generous estimate. More like 1 a month? But really, you should accept as many payment methods as conveniently possible. Fortunately, bitcoin can more convenient than any of them. You can set it up to be zero maintenance.
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And all this fraud just because people are financially and economically illiterate.  I don't even know if those terms apply. It wasn't just them not knowing what questions to ask about the "investments." I mean, even scammers fell for them. It seems like such frauds simply cater to the greedy: if your greed overpowers your knowledge and diligence, then you get burned.I also just now realized how much money these scams netted after Stephen's post above. Funny how the author of the article never once mentioned the USD/Euro/etc. value of what he stole. All the better to let himself sleep, I suppose. Bingo. We are ALL susceptible to this. |
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Even though I am no longer depositing with Pirate, bitcoinmax is really an excellent service. At the cut he's taking, this is basically volunteer work (and I'm sure it is a LOT of work). I was always surprised with how dedicated payb.tc has been to his depositors. Very professional and seamless.
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If in fact it is a Ponzi, then I think their actions and words are completely justified. The problem is, no one has any proof. Then again, if if is a Ponzi, there is no proof to be had... You will only know it is a Ponzi when it collspses.
What sort of vested interest do you mean? A silly bet? A personal vendetta against Pirateat40?
It certainly isn't jealousy.
I think these naysayers are simply convicted, and want to minimize damages. They changed my mind (again, I know). I am grateful.
Suppose the same accusations came up against Starfish BCB. Would it bother me? Absolutely. It would get very old. I would consider them very wrong. But they would believe it were for the greater good, so that's that.
I am DREADING all of the "I told you so" posts, either way. When the verdict becomes clear on BTCST, we will learn a lot about the character of many, many members here.
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1. Banning people for this type of behaviour is not only harsh, it's unethical. Don't you think? There are a lot of people on this forum who might go on and on about some bullshit or another, all the time. Some people really drive me crazy. But bans? dude, that's like so draconian. Just click the ignore button! I do it all the time, and never look back.
2. Good luck getting the mods to take your side on this particular issue.
3. If you are going to be asking for money here... given past events, you are going to have to go through the gauntlet. It's just part of it.
I'm no expert. just my two bitcents (i hate that phrase).
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imsaguy,
You are one of the loudest, rudest, most obnoxious and immature posters on this forum. I mean in general, irrespective of BTCST.
It's time to hit the button (the "lalala i can't hear you" button).
Bob.
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So, lots of drama in the main BTCST thread over the last 24 hours. Now the thread is locked. Thoughts?
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What would be a fair way to go short/long on BTCST? The betsofbitco.in ones don't make a lot of sense. Those who are long have funds in BTCST, and won't withdraw them before the bet deadline .
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I withdrew all funds tonight, because I don't want anyone absconding with my hard-earned principal.
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As more and more businesses start accepting btc (then more, then more), the need to convert to fiat decreases. Using bitcoin cuts out the middlemen, namely governments and all bank-related entities. Yes, initially all businesses will convert to fiat. However, if businesses A and B accept Bitcoin, then A can by it's supplies from business B with its earned bitcoin. there is no middle man to take a cut. That's the allure.
Edit: it just occurred to me that you can buy anything with anything, as long as you convert it to anything that is an accepted medium of exchange
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This thread compels me to actively avoid discovering whatever overly self-important thing you are up to.
Me too, and I know I'm doing it wrong. |
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Are you launching Bitcoin.com like TradeHill was going to?
"was going to", sad  No, and i'm now going to follow a policy of neither confirming or denying while everyone theorises Sad indeed. I don't really get all the secrecy. Some people will announce things months ahead and hype continuously. Throw us a bone or at least let us play twenty questions. The vagueness is better than total silence though, right? Well, total silence is less annoying. |
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