Pirate Warned Us

[mb300sd]

Yah someone who at best controls 3-4% of btc is completely in control of the economy.

We have billionaires that only control .005% of the real world economy being accused of controlling it. Accurately.

3-4% of all BTC is vastly more than the currency trade volume.

edit - 500k BTC is an even 5%, anyway.

5% assuming that none of the 10M BTC is unrecoverable or in the hands of people with no interest in selling ever.

Well, someone just recovered ~45k... lets pray they don't dump.
https://bitcointalk.org/index.php?topic=101847

[bitcon]

Yah someone who at best controls 3-4% of btc is completely in control of the economy.

We have billionaires that only control .005% of the real world economy being accused of controlling it. Accurately.

3-4% of all BTC is vastly more than the currency trade volume.

edit - 500k BTC is an even 5%, anyway.

5% assuming that none of the 10M BTC is unrecoverable or in the hands of people with no interest in selling ever.

Well, someone just recovered ~45k... lets pray they don't dump.
https://bitcointalk.org/index.php?topic=101847

unless you want to buy some cheap coins then, you'd pray he would dump

[bitarrow]

yes i need to go under $7, let him dump!

[Matthew N. Wright]

Cross posting this obviously, but if you guys really think Pirate is full of shit and a scammer, you need to see this. https://bitcointalk.org/index.php?topic=101751

[bitcon]

alright, just what we need - another scam.

i'm starting my own Bet.  If Matthew N. Wright actually pays anyone that wins the bet against him that Pirate40 paysout i will return 200% to any bet placers. any takers?

[Matthew N. Wright]

alright, just what we need - another scam.

i'm starting my own Bet.  If Matthew N. Wright actually pays anyone that wins the bet against him that Pirate40 paysout i will return 200% to any bet placers. any takers?

Ironic, considering the entire point of the bet was to teach people a lesson who make accusations without any evidence. I guess I need to teach you a lesson as well. If you think that bet was a scam, I will escrow 100BTC with you right now (surely you can afford it since you were willing to offer 1200BTC to anyone who won my bet) that it is not a scam. If you don't do it, we know who the real scammer is, and with your track record of lies (how's your wife doing?) that should already be obvious.

Ball's in your court.

[tvbcof]

...  September Gavin will be announcing CIA takeover of all bitcoin development with Pirate being promoted to Director.

No problem.  That's what God created forks for.

And if the blockchain forks in relationship to a codebase fork I'm cool with that too...as long as it doesn't back-track to half a year ago when I last did a transaction I'll just control the same percentage value in more than one blockchain.

[notme]

...  September Gavin will be announcing CIA takeover of all bitcoin development with Pirate being promoted to Director.

No problem.  That's what God created forks for.

And if the blockchain forks in relationship to a codebase fork I'm cool with that too...as long as it doesn't back-track to half a year ago when I last did a transaction I'll just control the same percentage value in more than one blockchain.

Until someone you send BTC to rebroadcasts your transaction on the other chain...

This is easy to avoid though, just remember to send all your coins to a fresh, unique address on each chain shortly after the fork.

[tvbcof]

...  September Gavin will be announcing CIA takeover of all bitcoin development with Pirate being promoted to Director.

No problem.  That's what God created forks for.

And if the blockchain forks in relationship to a codebase fork I'm cool with that too...as long as it doesn't back-track to half a year ago when I last did a transaction I'll just control the same percentage value in more than one blockchain.

Until someone you send BTC to rebroadcasts your transaction on the other chain...

This is easy to avoid though, just remember to send all your coins to a fresh, unique address on each chain shortly after the fork.

One of the reason I have a multitude of not only addresses but completely independent wallet files is for flexibility in dealing with a lot of issues which could theoretically crop up.  I wanted a bulk of my holdings planted as deeply in the blockchain as possible.  If transferring value to a new address is the best way to solve a given problem and if it can be done without compromising the value I hold in other chain forks then that is what I might do.  Carefully.

In any event I see it as unlikely to need to worry about any of this stuff to terribly much at this point.

[bitcon]

alright, just what we need - another scam.

i'm starting my own Bet.  If Matthew N. Wright actually pays anyone that wins the bet against him that Pirate40 paysout i will return 200% to any bet placers. any takers?

Ironic, considering the entire point of the bet was to teach people a lesson who make accusations without any evidence. I guess I need to teach you a lesson as well. If you think that bet was a scam, I will escrow 100BTC with you right now (surely you can afford it since you were willing to offer 1200BTC to anyone who won my bet) that it is not a scam. If you don't do it, we know who the real scammer is, and with your track record of lies (how's your wife doing?) that should already be obvious.

Ball's in your court.

how about the lesson of not sending your money to strangers?  when are you going to teach people that lesson? i may lie to try to get a rise out of ppl but i don't try to scam people out of money or stick up for people like pirate40. i don't stoop that low.

[miscreanity]

he contradicts himself.

<pirateat40> There is no point in the last 7 months that I've not been in control of the market.[/b]
<pirateat40> this is the first time ive ever played the market.

Control is one thing, such as pushing the price back into a stable range. Cornering or playing the market is another, especially when it's disruptive.

[fcmatt]

Yah someone who at best controls 3-4% of btc is completely in control of the economy.

We have billionaires that only control .005% of the real world economy being accused of controlling it. Accurately.

3-4% of all BTC is vastly more than the currency trade volume.

edit - 500k BTC is an even 5%, anyway.

5% assuming that none of the 10M BTC is unrecoverable or in the hands of people with no interest in selling ever.

Well, someone just recovered ~45k... lets pray they don't dump.
https://bitcointalk.org/index.php?topic=101847

That was a very profitable post for me. I plan to dump.

[bitcon]

Yah someone who at best controls 3-4% of btc is completely in control of the economy.

We have billionaires that only control .005% of the real world economy being accused of controlling it. Accurately.

3-4% of all BTC is vastly more than the currency trade volume.

edit - 500k BTC is an even 5%, anyway.

5% assuming that none of the 10M BTC is unrecoverable or in the hands of people with no interest in selling ever.

Well, someone just recovered ~45k... lets pray they don't dump.
https://bitcointalk.org/index.php?topic=101847

That was a very profitable post for me. I plan to dump.

just the 100 coins tho right?

[fcmatt]

Yah someone who at best controls 3-4% of btc is completely in control of the economy.

We have billionaires that only control .005% of the real world economy being accused of controlling it. Accurately.

3-4% of all BTC is vastly more than the currency trade volume.

edit - 500k BTC is an even 5%, anyway.

5% assuming that none of the 10M BTC is unrecoverable or in the hands of people with no interest in selling ever.

Well, someone just recovered ~45k... lets pray they don't dump.
https://bitcointalk.org/index.php?topic=101847

That was a very profitable post for me. I plan to dump.

just the 100 coins tho right?

yes. just the 100 + mining results from the weekend.

i wish i had 40K in bitcoins! heh.

[Frankie]

alright, just what we need - another scam.

i'm starting my own Bet.  If Matthew N. Wright actually pays anyone that wins the bet against him that Pirate40 paysout i will return 200% to any bet placers. any takers?

I was just going to offer a similar bet, but only even money.

You need to change "anyone" to "everyone," because one payment would make you a loser.

[anu]

I get a serious impression that some here believe that Pirate is their savior, that he can throw lightning and part the seas.

[tvbcof]

I get a serious impression that some here believe that Pirate is their savior, that he can throw lightning and part the seas.

Pirate has managed to develop a perception of power (like the United States.)  Though it is hard to know for sure, I suspect that this perception is much greater than his actual capabilities (again, not unlike the United States.)

One thing that is clear, however, is that a perception of great power has a deep psychological effect on a certain class of people and that can be leveraged for a lot of purposes...including robbing them blind.

[Rassah]

<pirateat40> this is the first time ive ever played the market.

I think this is a much more significant quote. Isn't this him basically admitting that he's a noob when it comes to controlling/manipulating the market? I'd expect him to really mess up and let it run away from him the first time he's trying to learn how to do it.

[miscreanity]

I get a serious impression that some here believe that Pirate is their savior, that he can throw lightning and part the seas.

Pirate has managed to develop a perception of power (like the United States.)  Though it is hard to know for sure, I suspect that this perception is much greater than his actual capabilities (again, not unlike the United States.)

One thing that is clear, however, is that a perception of great power has a deep psychological effect on a certain class of people and that can be leveraged for a lot of purposes...including robbing them blind.

Extreme claims are absurd. Quite simply, Pirate's operation appears to have been a stabilizing factor since it came into existence late last year. I'd rather have that than uncontrolled serial bubbles causing extreme volatility during an important phase of growth. Concerning as the amount of control is, if it can happen, it will happen.

As the market gains in size it'll become naturally more stable, and it's unlikely that BCS&T would be able to maintain. In a small market, it'd be quite easy for a participant of size to corner the market - potentially one without community involvement.

Question what the alternative would be. I'm sure none of us would be comfortable with Chuck Schumer running the show.

<pirateat40> this is the first time ive ever played the market.

I think this is a much more significant quote. Isn't this him basically admitting that he's a noob when it comes to controlling/manipulating the market? I'd expect him to really mess up and let it run away from him the first time he's trying to learn how to do it.

Doubtful. I read it as that being the first time he directly caused major volatility in the Bitcoin market, not that he'd never done a trade before.