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[Ocean6]

OP still got that cheery disposition?

[1714718794]

1714718794

[1714718794]

1714718794

[Shadow383]

Been paid yet?

[AndrewBUD]

That was a pirate pass through that defaulted?

[Bascule]

Actually, I "know" what he was doing, and how he could make such profits. Now if on monday he hasn't paid back/post a news, I will explain the general concept. He was not a scammer, and it wasn't a ponzi, that's for sure. That doesn't mean he will be able to repay all of his debt.

Now I understand why you think pirate deserves to be thanked and everyone who called him a lowlife piece of shit should apologise.

Wait, what?

[bitcoinBull]

Actually, I "know" what he was doing, and how he could make such profits. Now if on monday he hasn't paid back/post a news, I will explain the general concept. He was not a scammer, and it wasn't a ponzi, that's for sure. That doesn't mean he will be able to repay all of his debt.

Now I understand why you think pirate deserves to be thanked and everyone who called him a lowlife piece of shit should apologise.

Wait, what?

You'll understand what I meant on monday.

Do you promise on Monday?

[AndrewBUD]

is Thuesday a new day? Mix of Tuesday and Thursday (sorry I had to)

[AndrewBUD]

mois too monsieur

Je suis né au Quebec

[iCEBREAKER]

is Thuesday a new day? Mix of Tuesday and Thursday (sorry I had to)

In France there are 8 days in a week.  They added Thuesday so their weekends could be 4 days long (Thue-Sun).

/jealous Anglo-Saxon

[mrb]

Actually, I "know" what he was doing, and how he could make such profits. Now if on monday he hasn't paid back/post a news, I will explain the general concept. He was not a scammer, and it wasn't a ponzi, that's for sure.

Pirate raises every single red flag of a Ponzi scheme: overly consistent returns, unregistered investments, secretive and/or complex strategies, difficulty receiving payment, etc. This is from a list published by the U.S. SEC: http://www.sec.gov/answers/ponzi.htm

You are merely trying to convince yourself there is still hope of seeing your money back. Wake up!

I tried to warn victims of not investing in his scheme 2 months ago but you did not listen to me.

[Willowbitcoin]

Why do you no longer feel you will see your money back ?

[JoelKatz]

I believe those who are being called upon to apologize are those who insist, vehemently and repeatedly, that it can only be a Ponzi.

I am one of those. I will not apologize unless I have made some sort of mistake.

People who express that their opinion, based on their reasoning, led them to believe it to be a Ponzi are a different beast, just as those who say they do not believe it to be a Ponzi scheme, but admit that it could be.  These people have formed the quieter majority, of course.  The "extremists" on various axes ("ponzi/notaponzi", "use logic/use repeated claims as if they were fact", etc.) are the ones who have made stands that are primarily signaling activities.  While I don't expect a flood of sincere apologies from anyone (except one person and only if dominoes fall one way), I do hope that people learn from the experience and are more careful, whichever way things turn out.

Can you please explain to me the possibility I failed to consider? I've been asking people to do that and to date nobody has. You cannot fault me for failing to consider a possibility that I had no knowledge of nor any way to know. That's like faulting a caveman for not knowing that Mars has two moons.

A number of people have staked their reputations on the outcome, and a reputation should be jealously guarded.

If there's any mistake in my reasoning, tell me what it is. If you know but refuse to tell me, allowing me to continue to spread what you know is FUD and that I have no way to know, how is that *my* reputation that's at stake?

If I've made a mistake, point it out. I'm happy to correct errors. But all I hear is a broken record of "You might be wrong." and "That's what you think." But when I ask how I might be wrong, all I get back is silence. When I ask what I failed to consider, I get nothing back but handwaving and bogus arguments that Bitcoin is magical.

[JoelKatz]

So yes you can make 10% a week on a capital, miore on that later.

Please, explain how you can make 10% a week by borrowing at 3,600%. I find that very, very hard to believe, but if you have some evidence, I'm perfectly willing to listen. Otherwise, you're basically just saying "it's possible somehow".

[P4man]

So yes you can make 10% a week on a capital, miore on that later.

If you can make 10% per week, why are you posting here instead of sipping cocktails on your yacht?

[JoelKatz]

So yes you can make 10% a week on a capital, miore on that later.

Please, explain how you can make 10% a week by borrowing at 3,600%.

No I didn't mean 10% on top of a loan, but 10% on a capital.

Please, explain you how can make 10% on capital by borrowing at 3,600%. If Pirate doesn't need to borrow at 3,600%, why in the heck is he doing it? Because he likes wasting a buttload of money?

Actually, forget it. Just explain it to me so that I'll understand it and then I'll (probably) point out how it can't possibly make sense with respect to Pirate. (Or just look in the other threads where I did exactly that after people suggested possible ways.)

[Charles Bass]

maybe it´is our mistake that we think in our economy sizes!
we say 1 btc = 11 USD but one bitcoin is only one bitcoin.
atm i get 11 USD for 1 btc but the value of 1 btc is only 1 btc...

The Bank Deposit Rates in Pakistan are between 6-11% and its no ponzi scheme because their currency got another value...

yours, CB

[Charles Bass]

Ok let's suppose.

Suppose you're hanging on the OTC market. You're approached by some clients. They want to buy and later sell large amount of coins (in the order of several thousands or more), quick and OTC to stay anonymous.

What do you? How do you deal with their request?

whats the value of quick? days, months, a half year?

[Shadow383]

So yes you can make 10% a week on a capital, miore on that later.

Please, explain how you can make 10% a week by borrowing at 3,600%.

No I didn't mean 10% on top of a loan, but 10% on a capital.

Please, explain you how can make 10% on capital by borrowing at 3,600%. If Pirate doesn't need to borrow at 3,600%, why in the heck is he doing it? Because he likes wasting a buttload of money?

Oh sorry I was just trolling, you can't make more than 5% a year, I was so dumb thanks for opening my eyes.

Ok i'm done. Bye.

I think you'll agree there's some difference between claiming it's possible to reliably make more than 5% per year (it is) and claiming it's possible to reliably make more than 10% per week, or slightly over 14000% per year.

[P4man]

Ok let's suppose.

Suppose you're hanging on the OTC market. You're approached by some clients. They want to buy and later sell large amount of coins (in the order of several thousands or more), quick and OTC to stay anonymous.

What do you? How do you deal with their request?

Doesnt matter. Can you perhaps make 10% commission on some deals? Sure. Could it make sense to borrow bitcoins to allow you to conduct such business and get started? Sure. But it you are making such windfall profits trading btc, you will not keep lending more and more while compounding your costs,  instead as your own capital grows you will pay back your loans and keep your profits. So this is not a reasonable explanation of what pirate did. If he could make 100s of 1000s btc profits for his investors, he could make them for himself and he wouldnt need anyone to lend him a bloody thing.

[muyuu]

Saddest post in bitcointalk history or just a shill?  

[JoelKatz]

Doesnt matter. Can you perhaps make 10% commission on some deals? Sure. Could it make sense to borrow bitcoins to allow you to conduct such business and get started? Sure. But it you are making such windfall profits trading btc, you will not keep lending more and more while compounding your costs,  instead as your own capital grows you will pay back your loans and keep your profits. So this is not a reasonable explanation of what pirate did. If he could make 100s of 1000s btc profits for his investors, he could make them for himself and he wouldnt need anyone to lend him a bloody thing.

Exactly. Any explanation that doesn't explain why Pirate borrows at 3,600% effectively equates to "Pirate is so rich he can give money away, and he chooses to give money away only to people who would fall for a Ponzi scheme".