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[Stephen Gornick]

Not only did Pirate brought us a great opportunity for investors (once in a lifetime actually), he did help stabilise and grow steadily bitcoin price, volume exchange, and thus contributed to the success of bitcoin. For that, Pirate, I want to thank you. You've done a wonderful work, and I hope you're stay around here.

Regardless of the outcome, I dont think anyone owes an apology

There was a swing in the Bticoin "market cap" of nearly $75 million in under 48 hours.  That kind of volatility is harmful to Bitcoin.

The announcement occurred when the ability to send wire transfers to Mt. Gox had ended on Friday.  Perfect timing for maximum damage over the weekend.

Pirateat40 is not a friend of Bitcoin.  Pirate ... is a scoundrel.

I do apologize.  But not to pirate.  I apologize for not having the courage of conviction to yell at the top of my lungs that this entire deal stunk to high heaven.

[sadpandatech]

Ima just leave this here;

Cashin' Out

[imsaguy]

Not only did Pirate brought us a great opportunity for investors (once in a lifetime actually), he did help stabilise and grow steadily bitcoin price, volume exchange, and thus contributed to the success of bitcoin. For that, Pirate, I want to thank you. You've done a wonderful work, and I hope you're stay around here.

Regardless of the outcome, I dont think anyone owes an apology

There was a swing in the Bticoin "market cap" of nearly $75 million in under 48 hours.  That kind of volatility is harmful to Bitcoin.

The announcement occurred when the ability to send wire transfers to Mt. Gox had ended on Friday.  Perfect timing for maximum damage over the weekend.

Pirateat40 is not a friend of Bitcoin.  Pirate ... is a scoundrel.

I do apologize.  But not to pirate.  I apologize for not having the courage of conviction to yell at the top of my lungs that this entire deal stunk to high heaven.

And what if the stability which you so crave was explicitly caused by pirate for months on end?

[finkleshnorts]

Not only did Pirate brought us a great opportunity for investors (once in a lifetime actually), he did help stabilise and grow steadily bitcoin price, volume exchange, and thus contributed to the success of bitcoin. For that, Pirate, I want to thank you. You've done a wonderful work, and I hope you're stay around here.

Regardless of the outcome, I dont think anyone owes an apology

There was a swing in the Bticoin "market cap" of nearly $75 million in under 48 hours.  That kind of volatility is harmful to Bitcoin.

The announcement occurred when the ability to send wire transfers to Mt. Gox had ended on Friday.  Perfect timing for maximum damage over the weekend.

Pirateat40 is not a friend of Bitcoin.  Pirate ... is a scoundrel.

I do apologize.  But not to pirate.  I apologize for not having the courage of conviction to yell at the top of my lungs that this entire deal stunk to high heaven.

+1

[DeathAndTaxes]

And what if the stability which you so crave was explicitly caused by pirate for months on end?

Even if true. 

"The announcement occurred when the ability to send wire transfers to Mt. Gox had ended on Friday.  Perfect timing for maximum damage over the weekend."

Either Pirate is the worlds largest largest idiot and so badly blundered the announcement in such a way that 35% of the purchasing power of his investors funds was annihilated before he even began repayment .... or it was intentional.

Oh and idiots tend not to acquire a sum of 500K BTC.

[organofcorti]

My insight would be that I've seen many "true colors" come out in these last months. A lot of you guys can have a blockchain link to a tx id and a big "fuck you" when this is over with. This forum deserves to be taken for a ride.

Is this a pro or anti pirate rant? Your vitriol needs clarifying.

[elux]

"The announcement occurred when the ability to send wire transfers to Mt. Gox had ended on Friday.  Perfect timing for maximum damage over the weekend."

Either Pirate is the worlds largest largest idiot and so badly blundered the announcement in such a way that 35% of the purchasing power of his investors funds was annihilated before he even began repayment .... or it was intentional.

Oh and idiots tend not to acquire a sum of 500K BTC.

There are many fools around here, but I don't think Pirate is one of them.
Do you all think he would work tirelessly for almost a year, for free, at a loss, just to reward you for being gullible?

Ethical considerations aside, he would be a fool to give back the 5 million dollars he has craftily stolen, save a Tom Williams parting gift.

Roll me in tar and feathers and parade me around town if I turn out to be mistaken.

[organofcorti]

Opinions do not have to be explained. Normally I keep them to myself. Most people on this forum do not keep their opinions to themselves. Maybe I don't understand how to internet though. I'll figure it out eventually.

Donald Trump hair begs to disagree. 

[aq]

Ethical considerations aside, he would be a fool to give back the 5 million dollars he has craftily stolen, save a Tom Williams parting gift.

In other words: pirate is a honest man, while you would always scam given the chance. Revealing...

[dust]

Ethical considerations aside, he would be a fool to give back the 5 million dollars he has craftily stolen, save a Tom Williams parting gift.

In other words: pirate is a honest man, while you would always scam given the chance. Revealing...

Pirate is not proven to be honest yet, and elux said nothing about wanting to scam people himself.

[elux]

In other words: pirate is a honest man, while you would always scam given the chance. Revealing...

 

Dear aq, you seem to have become unwary and abandoned your common sense.

...
Because a ponzi scheme is technically insolvent, in the sense that its liabilities exceed its assets from the first day it does business,
it can only continue until the pool of gullible new investors dries up. At that point, the scheme collapses or the operator folds it up.
 
The collapse may be accelerated by the promoter's overuse of the money on impressive looking trappings for substantiation, or on personal extravagances, to create the appearance of prosperity.
Many first-time perpetrators of this crime become so accustomed to the lifestyle it generates that they themselves are in disbelief when it crumbles, convinced over time by their own lies.

Ponzi schemes can be applied to almost any business or investment, so when it fails, as it must, people often deem it a poor investment rather than an elaborate hoax.
To mask the fraudulent nature of the investment the scammer will often file for bankruptcy after safely hiding the money, then bemoan his failure and offer abject apologies to his loyal followers.

Generally, investors in Ponzi Schemes lose most of their invested moneys because there is no substance whatsoever to the "opportunity".
By making a lie look like a truth they cause you to become unwary and abandon your common sense.
...

Mark Fleming
Consumer Protection Lawyer

http://www.crimes-of-persuasion.com/Crimes/InPerson/MajorPerson/ponzi.htm

[aq]

Ethical considerations aside, he would be a fool to give back the 5 million dollars he has craftily stolen, save a Tom Williams parting gift.

In other words: pirate is a honest man, while you would always scam given the chance. Revealing...

Pirate is not proven to be honest yet, and elux said nothing about wanting to scam people himself.

elux said that he would be a fool if he will return the funds. So in elux state of mind, you have to scam to not be a fool. Hence, revealing...

[cryptoanarchist]

So what's the update? Anyone get their funds back yet?

[smoothie]

So what's the update? Anyone get their funds back yet?

Anyone get their coins back yet?

[Herodes]

So what's the update? Anyone get their funds back yet?

Anyone get their coins back yet?

Nah, you should all just be grateful for this 'investment' opportunity. Whoever would want to have their funds back. *sheeees*

To quote the topic starter:

Not only did Pirate brought us a great opportunity for investors (once in a lifetime actually), he did help stabilise and grow steadily bitcoin price, volume exchange, and thus contributed to the success of bitcoin. For that, Pirate, I want to thank you. You've done a wonderful work, and I hope you're stay around here.

Wonderful, wonderful! Now we all sing along: "Thank you pirateeee, thank you pirateeee.."

[Tarion]

Can someone explain to me what pirate has done? I don't get it from the search, sorry.

[AndrewBUD]

Search Harder....

[Herodes]

Can someone explain to me what pirate has done? I don't get it from the search, sorry.

Ran away with 5m usd worth of coins ?

[CodesInChaos]

Can someone explain to me what pirate has done? I don't get it from the search, sorry.

Ran away with 5m usd worth of coins ?

Claiming he ran away with 500kBTC is misleading, assuming he's running a ponzi. That may be the paper balance of BTCST, but many of those coins didn't exist in the first place, and he had to pay out the inflated balance of some participants. So his profit is probably significantly smaller than that, but still big.

[Hfertig]

30k bitcoins isn't worth disappearing.  If pirate returns all the money, he will have tons of trust for his next venture.  Though he will be poorer.  Let's wait til everyone has their money back.

Would 400K Bitcoins be worth disappearing?

That is about the sum I would be looking for to retire with 37...