BITCOIN SAVINGS & TRUST - Just when you thought Bitcoin was instant....

[notme]

Supposedly payments are starting to show up...in the bs&t payment thread, at least one person claims to have received his/her 4k owed bitcoins from pirate.

Actually he was just trolling.

[Tomatocage]

Where is the repayment thread? I looked and couldnt find anything.

[evolve]

https://bitcointalk.org/index.php?topic=101942.0;topicseen

[Herodes]

Bitlane: Let me guess......


NO PAYOUT TODAY FOR YOU ??


Oh dear...

[hashking]

Bitlane, I have a buyer that is interested in you Pirate account.  PM Me if you are interested in selling it.

[Gyrsur]

let us assume the 500k btc are not asset of pirateat40 anymore but the equivalent fiat money which he is still lending to someone. this will not have any effect on the bitcoin economy because the 500k btc are still in circulation (or more like hoarding). if this is true then we cannot expect a price drop in bitcoin because the coins are not stolen like as it happens at other scam situations in the past.

pirateat40 needs time to get back the fiat money plus interest. and the big question ist how he will earn these large interest rates he promised? with speculation in a bullish market without the opportunity of short selling?  

EDIT: if this scenario is true then he did a reallocation of bitcoin in the past months moving bitcoins from early adaptors to bitcoin newbies wich is not so bad for the bitcoin economy...

[smoothie]

let us assume the 500k btc are not asset of pirateat40 anymore but the equivalent fiat money which he is still lending to someone. this will not have any effect on the bitcoin economy because the 500k btc are still in circulation (or more like hoarding). if this is true then we cannot expect a price drop in bitcoin because the coins are not stolen like as it happens at other scam situations in the past.

pirateat40 needs time to get back the fiat money plus interest. and the big question ist how he will earn these large interest rates he promised? with speculation in a bullish market without the opportunity of short selling?  

EDIT: if this scenario is true then he did a reallocation of bitcoin in the past months moving bitcoins from early adaptors to bitcoin newbies wich is not so bad for the bitcoin economy...

1. He doesnt have the coins otherwise 24 hours would be enough time to get them back to investors.

2. He has two options to get bitcoins back to investors, buy them, or mine them.

3. Looks like he is shit out of luck...

[Gyrsur]

let us assume the 500k btc are not asset of pirateat40 anymore but the equivalent fiat money which he is still lending to someone. this will not have any effect on the bitcoin economy because the 500k btc are still in circulation (or more like hoarding). if this is true then we cannot expect a price drop in bitcoin because the coins are not stolen like as it happens at other scam situations in the past.

pirateat40 needs time to get back the fiat money plus interest. and the big question ist how he will earn these large interest rates he promised? with speculation in a bullish market without the opportunity of short selling?  

EDIT: if this scenario is true then he did a reallocation of bitcoin in the past months moving bitcoins from early adaptors to bitcoin newbies wich is not so bad for the bitcoin economy...

1. He doesnt have the coins otherwise 24 hours would be enough time to get them back to investors.

2. He has two options to get bitcoins back to investors, buy them, or mine them.

3. Looks like he is shit out of luck...

i'm 100% with you... 

[yochdog]

Supposedly payments are starting to show up...in the bs&t payment thread, at least one person claims to have received his/her 4k owed bitcoins from pirate.

That was a troll......keep reading the thread.

No payments yet. 

[bitlane]

Bitlane, I have a buyer that is interested in you Pirate account.  PM Me if you are interested in selling it.

As much as I appreciate the offer, rather than use PM, I must publicly DECLINE......for 3 reasons:

1) I would be a complete douche to leverage a 3rd party and expose my risk to them.

2) I have EVERY intention of seeing this through to the bitter, agonizing end....AS I SEE FIT.....because frankly, what else would I do with my time ?


<EDIT>

I forgot to add the 3rd reason....LMAO.

cont....

3) He made this PERSONAL with his threat that 'I would be last to see my money if I kept it up' ......

[yochdog]

Bitlane, I have a buyer that is interested in you Pirate account.  PM Me if you are interested in selling it.

As much as I appreciate the offer, rather than use PM, I must publicly DECLINE......for 3 reasons:

1) I would be a complete douche to leverage a 3rd party and expose my risk to them.

2) I have EVERY intention of seeing this through to the bitter, agonizing end....AS I SEE FIT.....because frankly, what else would I do with my time ?

Man, love you or hate you.....

You provide endless entertainment.

Reminds me of the old saying, "sure he is an idiot, but he is our idiot dammit!"

[bitlane]

I forgot to add the 3rd reason....LMAO.

cont....

3) He made this PERSONAL with his threat that 'I would be last to see my money if I kept it up' ......

[Mousepotato]

There's two types of people I can't tolerate: People who can't count.

[smoothie]

There's two types of people I can't tolerate: People who can't count.

Oh yeah...two types? lol

[Electricbees]

There's two types of people I can't tolerate: People who can't count.

Clever...

[Fray]

Let's be clear about 1 thing first of all:

I have been a strong Pirate Savings & Trust proponent for the last 210 Days.
As with many of you, I have put up with my fair share of FUD being spewed by the masses and added a rebuttal or 2 whenever I saw fit.
I have never invested much, as in, never more than I was willing to lose.... although I felt it was enough to warrant some sort of service.

I have successfully withdrawn a grand total of 2165 BTC over 4 separate transactions, each of those 4 requests being filled within minutes.
(1 of them being a 1900 BTC request)

Today, however....seems to be another story.

As of posting this, we are officially at the 3 hour mark for what is still, an absent withdrawal request of only 114 BTC.

I am not about to jump to any conclusions too quickly, but in my opinion, there are a few things that made First Pirate Savings & Trust great:
- Fast Support.
- Easy Access to Funds.
- Communication.

With the above in mind, BITCOIN SAVINGS & TRUST has much to live up to.

Too Big To Fail - Not just for the USD Markets anymore.

I can only imagine that this post will lead to the forceful closure of my BTCST Account....but I have paid higher prices in the past, for the opportunity to be honest.

With Love,
bitlane

Looking at this post I'm not entirely convinced Bitlane didn't have an ulterior motive here. I wouldn't rule out perhaps even his being a Pirate shill.  To suggest someone could become this disgruntled after just 3 hours seems a bit far fetched. It's possible the post is sincere, it just seems very unlikely.

[bitlane]

I wasn't being insincere when I wrote that post.

When the scale was a bit more manageable (Before all of the PPTs began throwing in 10s of thousands of BTC at a time) First Pirate Savings & Trust was awesome.

Back then, he communicated.

Once the fund grew (exponentially as it seems), the service and overall communication seemed to fall off at a proportional rate.

THAT was my original point.

Bitcoin Savings & Trust failed because it got too big.

[Bitcoin Oz]

Bitlane, I have a buyer that is interested in you Pirate account.  PM Me if you are interested in selling it.

As much as I appreciate the offer, rather than use PM, I must publicly DECLINE......for 3 reasons:

1) I would be a complete douche to leverage a 3rd party and expose my risk to them.

2) I have EVERY intention of seeing this through to the bitter, agonizing end....AS I SEE FIT.....because frankly, what else would I do with my time ?

Man, love you or hate you.....

You provide endless entertainment.

Reminds me of the old saying, "sure he is an idiot, but he is our idiot dammit!"

You should have seen the bitlane V bitcoinexpress epic battle 

I have a feeling even if pirate pays him back we wont hear the end of it.

[bitlane]

You should have seen the bitlane V bitcoinexpress epic battle 

I have a feeling even if pirate pays him back we wont hear the end of it.

NOT TRUE.

When BitcoinEXpress said 'mercy' ....... I LEFT HIM ALONE.

It's funny that you bring that up though, as I never stood to lose or gain a single cent over that battle.

This, on the other hand, is quite a different story with the stakes in question.

[Bitcoin Oz]

You should have seen the bitlane V bitcoinexpress epic battle 

I have a feeling even if pirate pays him back we wont hear the end of it.

NOT TRUE.

When BitcoinEXpress said 'mercy' ....... I LEFT HIM ALONE.

It's funny that you bring that up though, as I never stood to lose or gain a single cent over that battle.

This, on the other hand, is quite a different story with the stakes in question.

I dont think pirate will make the mistake of getting in a public battle on the forum.