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Author Topic: centralized post of pirate payouts-It is over. Pirate@scammer admits default  (Read 79422 times)
CoinDiver
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August 22, 2012, 09:59:19 PM
 #121

Quote
You better not cry, you better not pout.
I'm telling you why, Santa Claus is coming to town.

He's making a list, Checking it twice;
Gonna find out who's naughty or nice.
Santa Claus is coming to town.
Or:
Quote
He knows when you are sleeping,
He knows when you're on the can,
He'll hunt you down and blast your ass from here to Pakistan.
Oh, You'd better not breathe, you'd better not move,
You're better off dead, I'm telling you, dude.
Santa Claus is gunning you down!

http://mises.org/daily/3229
BTC:1PEyEKyVZgUvV4moXvCD5rQN21QETGPpLc
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muyuu
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August 22, 2012, 10:02:57 PM
 #122

Thanks. Has he said anything in IRC?

You can't join in IRC?

I dunno, is there an Android app for it?  I've only once used IRC before.

You can connect through a browser http://webchat.freenode.net/?channels=btcst

For Android you have clients like andchat, just looking it up in Google Play should give you alternatives.

All this is happening in the server Freenode, chats #btcst, #BTC-MINING, #bitcoin and maybe others.

GPG ID: 7294199D - OTC ID: muyuu (470F97EB7294199D)
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bitcoinsydney
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August 22, 2012, 10:58:44 PM
 #123

A few min before I posted.

I wish he'd just give us some kind of official word on the status of his progress.

I've created this to be helpful

btcst.freenode 20th August - 23rd August @Pirateat40 IRC highlights
http://pastebin.com/1V7pf9K1

feel free to say thanks Smiley
1AimCqwgujZLLSDmdSLFEv9cdvtjqVw7F5

Send your thanks and sympathy to 1AimCqwgujZLLSDmdSLFEv9cdvtjqVw7F5
VelvetLeaf
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August 23, 2012, 04:26:36 AM
 #124

Quote
<Swashy>   pirateat40: Does things progressing slower than expected change your repayment timeline at all?
<@pirateat40>   Swashy, not thus far, if things don't progress in the next 12-14 hours I'll let everyone know.

BTC : 1GN81dxzxyFPQsyAtdocXr5S9Mcg4wcfFG
LTC : LgmYvXsYXc4xdjsMKXJWqtagxVvioK6iaw
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fcmatt
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August 23, 2012, 04:56:06 AM
 #125

i was hoping this thread would be a list of payouts, partial payouts, and otherwise a summary.
but so far there is not a darn thing to report.

summary: default is likely. no evidence thus far shows any promise otherwise.

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Mousepotato
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August 24, 2012, 04:21:44 AM
 #126

Any updates?

Mousepotato
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August 24, 2012, 04:25:31 AM
 #127

Owed at shutdown:
~500,000 BTC (per Pirate statement)

Paid since shutdown:
100 BTC verified (possibly as much as 1,500 BTC unverified)

Interest accumulated (if Pirate claim of 500K BTC is accurate) since shutdown:
30,000 BTC
(500,000 * 1% per day * 6 days = 30,000 BTC)


Net obligation change:
+ 29,900 BTC
(- 100 BTC + 30,000 BTC = 29,900 BTC)

So in 43 weeks when Pirate owes more Bitcoins than are in existence I wonder if people will accept that they aren't going to get their funds back.


On edit:
clarified and "showed my work" since apparently math is hard.
Litecoin
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August 24, 2012, 05:47:46 AM
 #128

Since shutdown

Paid:
100 BTC

Interest accumulated (if Pirate claim of 500K BTC is accurate)
30,000 BTC

Net obligation change:
+ 29,900 BTC

So in 43 weeks when Pirate owes more Bitcoins than are in existence I wonder if people will accept that they aren't going to get their funds back.

Why post such rubbish?

500k was not invested 43 weeks ago. Talk facts, don't stir shit.

Thank you!
BoardGameCoin
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August 24, 2012, 05:53:38 AM
 #129

Since shutdown

Paid:
100 BTC

Interest accumulated (if Pirate claim of 500K BTC is accurate)
30,000 BTC

Net obligation change:
+ 29,900 BTC

So in 43 weeks when Pirate owes more Bitcoins than are in existence I wonder if people will accept that they aren't going to get their funds back.

Why post such rubbish?

500k was not invested 43 weeks ago. Talk facts, don't stir shit.

Thank you!

Litecoin:

Learn math.

Please.

Kthxbai.

I'm selling great Minion Games like The Manhattan Project, Kingdom of Solomon and Venture Forth at 4% off retail starting June 2012. PM me or go to my thread in the Marketplace if you're interested.

For Settlers/Dominion/Carcassone etc., I do email gift cards on Amazon for a 5% fee. PM if you're interested.
Litecoin
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August 24, 2012, 07:36:00 AM
 #130

Since shutdown

Paid:
100 BTC

Interest accumulated (if Pirate claim of 500K BTC is accurate)
30,000 BTC

Net obligation change:
+ 29,900 BTC

So in 43 weeks when Pirate owes more Bitcoins than are in existence I wonder if people will accept that they aren't going to get their funds back.

Why post such rubbish?

500k was not invested 43 weeks ago. Talk facts, don't stir shit.

Thank you!

Litecoin:

Learn math.

Please.

Kthxbai.

Shit stirring has got nothing to with math.
Get correct inputs and do your math again.

and stick to your Minion Games.
Coinoisseur
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August 24, 2012, 07:43:38 AM
 #131

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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Hunterbunter
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August 24, 2012, 07:44:34 AM
 #132

Since shutdown

Paid:
100 BTC

Interest accumulated (if Pirate claim of 500K BTC is accurate)
30,000 BTC

Net obligation change:
+ 29,900 BTC

So in 43 weeks when Pirate owes more Bitcoins than are in existence I wonder if people will accept that they aren't going to get their funds back.

lol nice one.
deeplink
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August 24, 2012, 08:04:57 AM
 #133

Since shutdown

Paid:
100 BTC

Interest accumulated (if Pirate claim of 500K BTC is accurate)
30,000 BTC

Net obligation change:
+ 29,900 BTC

So in 43 weeks when Pirate owes more Bitcoins than are in existence I wonder if people will accept that they aren't going to get their funds back.

Why post such rubbish?

500k was not invested 43 weeks ago. Talk facts, don't stir shit.

Thank you!

Litecoin:

Learn math.

Please.

Kthxbai.

Shit stirring has got nothing to with math.
Get correct inputs and do your math again.

and stick to your Minion Games.

Input is 500000 BTC
Interest rate is 7% per week

43 weeks from now pirate will owe his lenders more BTC than exist

It's not rocket science

1   535000
2   572450
3   612522
4   655398
5   701276
6   750365
7   802891
8   859093
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11   1052426
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39   6997410
40   7487229
41   8011335
42   8572128
43   9172177
bitcoinBull
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August 24, 2012, 08:11:27 AM
 #134

Any updates?

*crickets.wav*

College of Bucking Bulls Knowledge
makomk
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August 24, 2012, 08:39:54 AM
 #135

Since shutdown

Paid:
100 BTC
Possibly closer to 1500 BTC total, though that obviously doesn't make much difference because...

Interest accumulated (if Pirate claim of 500K BTC is accurate)
30,000 BTC

Quad XC6SLX150 Board: 860 MHash/s or so.
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Grinder
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August 24, 2012, 08:56:46 AM
 #136

Possibly closer to 1500 BTC total, though that obviously doesn't make much difference because...
What's your source? Who got the other 1400?
makomk
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August 24, 2012, 09:07:57 AM
 #137

Possibly closer to 1500 BTC total, though that obviously doesn't make much difference because...
What's your source? Who got the other 1400?
Extremely rough estimate based on the payout sizes people have reported, the number of people Pirate claims to have paid, and the transactions from the address he's been paying out. Could be wildly wrong - he could be lying or some of the payouts could be to stooges - but it's plausible.

Quad XC6SLX150 Board: 860 MHash/s or so.
SIGS ABOUT BUTTERFLY LABS ARE PAID ADS
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August 24, 2012, 09:19:19 AM
 #138

That didn't really answer any of my questions. What's your source? Who got the other 1400?
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August 24, 2012, 09:25:59 AM
 #139

That didn't really answer any of my questions. What's your source? Who got the other 1400?

A few users claim to have been refunded their "small accounts", but it's understandable that not all of them want to disclose any more information.

So you'll have to do with estimates.

GPG ID: 7294199D - OTC ID: muyuu (470F97EB7294199D)
forum tea fund BTC 1Epv7KHbNjYzqYVhTCgXWYhGSkv7BuKGEU DOGE DF1eTJ2vsxjHpmmbKu9jpqsrg5uyQLWksM CAP F1MzvmmHwP2UhFq82NQT7qDU9NQ8oQbtkQ
DeathAndTaxes
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Gerald Davis


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August 24, 2012, 12:47:33 PM
 #140

Why post such rubbish?

500k was not invested 43 weeks ago. Talk facts, don't stir shit.

LiteCoin if you failed big boy math class you shouldn't correct others.
Here I will "show my work" so you can follow along.  Please take out a #2 pencil and a new sheet of paper.

Around the time of the closing Pirate indicates that there were ~500,000 BTC deposited.
Pirate interest obligation is 1% per day until repaid.  That would be roughly 5,000 BTC per day on the 500,000 BTC deposited.  At the time of my post it was roughly 6 days since the trust had been closed but funds not "yet" repaid.

500,000 * 1% * 6 days = 30,000 additional BTC owed.  This evening it will be more like 35,000 BTC.  If Pirate paid back a total of 35,000 BTC this week he would still owe 500,000.  If he paid back 35,000 BTC every week until the end of time he would STILL owe 500,000 BTC.  The only way he can pay down the debt it to repay faster than the rate interest is accruing.  Given he has so far only paid back 100 BTC (or maybe up to 1,500 BTC unverified) the amount he owes has increased >30,000 since the trust was closed.

Another way to look at it is the amount Pirate owes increases by roughly $2,083 every hour, $34.67 every minute, $0.57 every second.    Just in the time it took me to write this post Pirate's debt has increased by another $100 or so.  Given your poor math skills by the time you actually understand this his debt will have increased by a couple hundred dollars more.
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