In order to serve you have to know who and where he is, which would be one up on serving Santa Claus. So yes, spending a bit of money to be able to serve him papers would be in order if owed a lot of BTC. It's about as useful as serving Santa Claus for not bringing the right presents. Bitlane is filing the report though right, he says he doesn't talk shit and he said he was going to file the report, so he must have already done it.
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Depending on how much BTC it is, spending a bit to serve him with papers might suddenly see the account paid out. ;p Anyone who actually has serious money tied up with this should have gotten a lawyer by now and started the process along. A lot can be revealed with civil suit subpoenas especially if done in a timely manner.
Anyone who actually has ANY money tied up with this would be a BIGGER fool to hire a lawyer. Throwing good money after bad has never worked out for anyone. |
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Anyone who actually has serious money tied up with this should have gotten a lawyer by now and started the process along. A lot can be revealed with civil suit subpoenas especially if done in a timely manner.
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Plenty of fraudsters have public lives and stick around too long. That is not evidence for or against legitimate conduct. Neither do pseudo-anonymous allusions to vigilantism magically negate the responsibility those, who claimed to know what business pirate was engaged in while defending his investment vehicle, have to come forward with that information.
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Well, there have been a couple of forum members now who have claimed to have discovered his business model (with the inference it's not a ponzi). I couldn't find the older thread in my history, perhaps it was deleted. It had the phrase "open mind" while going through Pirateat40's forum posts revealed how he was legitimately generating consistent 7+% a week. But here is a fresher version, "That being said, read his post on this forum and on IRC and you will get an almost clear picture about his business.": Trust is earned, not given. What did pirate do to earn trust?
Member of the community, gpumax, OTC rating, etc Do people know who he is or where he lives?
People are way too lazy this day. Google him. Look at his facebook page. Look at the facebook page of his wife. Look at the pictures of his sons, dogs. Hell, we know more about him, than we know about the whole dev team combined. But in sharp contrast we trust the dev team with ALL our bitcoins. Do they know how the money they give him is used to make those returns?
I guess sometimes the business model itself can be the trade secret. That being said, read his post on this forum and on IRC and you will get an almost clear picture about his business. Do they know how much of the profits he keeps for himself?
Yes, he stated to make about 10%/week and gave his lenders about 7%. Do they even know why he needs other people's money instead of just earning the 7% weekly return on his own money?
He did not have such huge funds, and those were necessary for him to make this profit. But while all those are neat questions that can be answered easily, it still leaves the actual one unanswered: I don't really follow the logical connection between "some people may have lost money to a bitcoin scam" and "it's time to panic sell!"
Why would anyone panic sell over this type of announcement? Is the assumption that pirate's was going to dump his btc holdings, causing the price to go down? If so, why would he bother announcing?
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And this folks is why the purely art or skill based contract work can be a rough business.
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Is the police report available to you yet, Glasswalker? It's getting close to the two month point. No idea about your area but it's usually possible to get a self copy of a reported incident fairly quickly. Police know these are important for insurance purposes and such.
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Intensity of 9. Intensity 11 does peg a core, is that a bug though or part of what intensity means?
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Just some joking and a bit of "these things take time."
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He's referring to the interest rate on the claimed holdings. Pirateat40 hasn't declared interest at 0. So roughly 500K at 1% a day compounding.
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Yep Venture Capitalists have a 100% success track record. Also, BFL has a history of delivering the exact $/MH and MH/W of their pre-order specifications.  I voted no. From what I've read so far, I think they're either pulling a massive scam, or if they're sincere, they're
a) way too optimistic with their timeframe... no ASICs before the new year at least, and
b) pulling the specs out of their arse... sure, ASICs would improve on FPGAs and do great damage to the GPU and FPGA miner diehards, but their quoted speeds and powers are bullshit.
That said, I fear wishful thinking on my part. I've sunk a whole load of money into a GPU farm since first hearing about bitcoin in October last year, and it's going to take a heck of a long time to recover my costs even if ASICs don't materialise (partly my rigs being continually uncooperative, partly poor buying decisions). If they do I can pack this all in. So I'd definitely much prefer that they're pie-in-the-sky and/or scammers, so I can continue to recover costs and feel smug about all those eedjits who jumped on the bandwagon.
Also I don't know if you can change the form of a poll once you've posted it, but
a) Your poll says we can only choose up to two options. Herp derp and so on.
b) You say the poll closes Nov 2. It would make more sense to close it some time before the Oct 31 deadline. How about either 30 Sept, or sometime mid-October?
Technically, the answer is 'no'. The question is, will BFL deliver before October 31st, 2012...and although their website states they will be available in October, they surely won't be in our hands until a number of months afterwards. As for the actual specs, they'll be on target. Think about it this way...if you just paid $30,000 for a single Rig, would you like to see the promised 1TH/s (or thereabout)? Not to mention, they have venture capital backing (VCs don't mess around with shoddy products for the most part) and $600,000 in preorders/trade-ins for the Rigs (that have been posted so far), so the specifications they promised will surely be met. |
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I have no CPU issue with 12.8 and 7000 series.
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#3
Do Pirate's comments as Steamship in IRC and his constant claims of "it's complicated" concern you in regards to winning the bet?
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This is why I offer a growing mining bond: https://bitcointalk.org/index.php?topic=93711.msg1102337#msg1102337Approximating how personal mining functions. If there is a change in hashing technology, I can adopt it and immediately pass on the MH/s gains. Also, my bonds should be seen as a way to get steady BTC by maintaining a share of the network, instead of looking at short-term fiat gains. Plenty of other options if you are looking for short-term fiat income. |
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If he has been day trading on BTC vs Fiat he hasn't been doing it on MtGox with anything like 500K.
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Hey guys I hear there is no popcorn regulator, we're free to grab all the popcorn and run for the hills!
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FYI, Madoff didn't leave the country. Stanford tried, but it was such a rookie maneuver and so late in the game it screams a lack of planning. Problem a lot of these confidence men have is they start buying their own lies and hype.
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Something about a fox and a henhouse. since when has pirate had op privileges on #bitcoin-otc
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But.. But.. Trying to crash the btc exchange rate and buy the btc with fiat would imply he had no real business model.
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