centralized post of pirate payouts-It is over. Pirate@scammer admits default

[smoothie]

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[04:06] <@pirateat40> When coins being to move I'll let everyone know. BTW, No you can not buy your way to the front, so stop asking.

If this was a ponzi he is putting on a great finale. Cannot buy to the front. Heh!

But it could also easily just mean he wants to be fair to all users.

Just another excuse to delay as would a ponzi.

[1715146242]

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[elosk]

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[04:06] <@pirateat40> When coins being to move I'll let everyone know. BTW, No you can not buy your way to the front, so stop asking.

If this was a ponzi he is putting on a great finale. Cannot buy to the front. Heh!

But it could also easily just mean he wants to be fair to all users.

Just another excuse to delay as would a ponzi.

So it's just a toss up, he could be doing anything right now.

[ElectricMucus]

Everything seems to be in order.

[Spekulatius]

Code:

[04:17] <@pirateat40> I'm handling the process as fast as possible.  At no point did I say it would be fast and easy, I said it would be done.  Thanks for your patience, I'm always watching.  Stay tuned.

[fcmatt]

Code:

[04:17] <@pirateat40> I'm handling the process as fast as possible.  At no point did I say it would be fast and easy, I said it would be done.  Thanks for your patience, I'm always watching.  Stay tuned.

Amazing how one could just refund the first few lenders as an act of good faith and just shut us all up. Instead... I think he likes the attention. I admit i find it all amusing though so it is a two way street.

[smoothie]

Code:

[04:17] <@pirateat40> I'm handling the process as fast as possible.  At no point did I say it would be fast and easy, I said it would be done.  Thanks for your patience, I'm always watching.  Stay tuned.

Translation: I'm not done trading like a maniac on mtgox with all my investors' coins. Wait...i'm waiting for a few suckers to sell so I can then pay you all back. Fuck i'm stressing out.

[smoothie]

Can someone please paste every line he posted to #btcst today?

EDIT: nvm, i'll do it. give me a sec.

Here's the raw, unedited log: http://www.bitbin.it/MKzYy6Bi

I'll snip and post pirate's comments in a moment.

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[2012-08-20 17:53:37] <pirateat40> finway, it doesn't work that way.
[2012-08-20 17:55:03] <pirateat40> Inedible, whiskey
[2012-08-20 17:55:34] <pirateat40> finway, once my process is released you'll understand more of how coins move around.
[2012-08-20 18:03:20] <pirateat40> finway, which account is yours?  Ill make sure yours don't. :P
[2012-08-20 18:07:26] <pirateat40> Today is the start of a busy week guys, i'd love to answer all the 200 pm's but can't.  I'm around and you'll know when things start to move.
[2012-08-20 18:07:30] <pirateat40> pirate out

And then there's this guy:

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[2012-08-20 17:35:28] <pirateat40_> ill never pay
[2012-08-20 17:35:30] <pirateat40_> hahahahahha

So, that was it for monday? No answers, no promises, no payments?

Translation: ill never pay hahahahahahahahaha

[BoardGameCoin]

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[04:17] <@pirateat40> I'm handling the process as fast as possible.  At no point did I say it would be fast and easy, I said it would be done.  Thanks for your patience, I'm always watching.  Stay tuned.

Translation: I'm not done trading like a maniac on mtgox with all my investors' coins. Wait...i'm waiting for a few suckers to sell so I can then pay you all back. Fuck i'm stressing out.

+20

[Spekulatius]

Code:

[04:17] <@pirateat40> I'm handling the process as fast as possible.  At no point did I say it would be fast and easy, I said it would be done.  Thanks for your patience, I'm always watching.  Stay tuned.

Translation: I'm not done trading like a maniac on mtgox with all my investors' coins. Wait...i'm waiting for a few suckers to sell so I can then pay you all back. Fuck i'm stressing out.

Paying back and buying during the resulting plummet should go hand in hand. Even if he tries to buy first, we should have seen some big ASK walls by now.

[Chalkbot]

If I had that much of other people's money, I would certainly be scared and trying to get payouts done asap!

I can only assume that the process he is using is not manually going down a list of addresses and sending bitcoins, but rather it is somewhat automated. We may not see the payouts start for a while, but once the system is set up it could happen rapidly. This could be the entire point of this whole deal. How do you think the market is going to react to 500k bitcoins rapidly moving around?

[smoothie]

Code:

[04:17] <@pirateat40> I'm handling the process as fast as possible.  At no point did I say it would be fast and easy, I said it would be done.  Thanks for your patience, I'm always watching.  Stay tuned.

Translation: I'm not done trading like a maniac on mtgox with all my investors' coins. Wait...i'm waiting for a few suckers to sell so I can then pay you all back. Fuck i'm stressing out.

Paying back and buying during the resulting plummet should go hand in hand. Even if he tries to buy first, we should have seen some big ASK walls by now.

Not if its a slow process is he claims lol...this can go on and on and on

[fcmatt]

If I had that much of other people's money, I would certainly be scared and trying to get payouts done asap!

I can only assume that the process he is using is not manually going down a list of addresses and sending bitcoins, but rather it is somewhat automated. We may not see the payouts start for a while, but once the system is set up it could happen rapidly. This could be the entire point of this whole deal. How do you think the market is going to react to 500k bitcoins rapidly moving around?

honestly.. would you automate payments with a quickly written script or even one that has been slightly debugged and used before with
500K of bitcoins?

that would be crazy. I would do any payment over 100 btc by hand for sure.

[notme]

Code:

[04:17] <@pirateat40> I'm handling the process as fast as possible.  At no point did I say it would be fast and easy, I said it would be done.  Thanks for your patience, I'm always watching.  Stay tuned.

Amazing how one could just refund the first few lenders as an act of good faith and just shut us all up. Instead... I think he likes the attention. I admit i find it all amusing though so it is a two way street.

That wouldn't shut you up and you know it.  He'll just wait until he's ready because full repayment is the only thing that will silence the peanut gallery.

[elosk]

Code:

[04:17] <@pirateat40> I'm handling the process as fast as possible.  At no point did I say it would be fast and easy, I said it would be done.  Thanks for your patience, I'm always watching.  Stay tuned.

Amazing how one could just refund the first few lenders as an act of good faith and just shut us all up. Instead... I think he likes the attention. I admit i find it all amusing though so it is a two way street.

That wouldn't shut you up and you know it.  He'll just wait until he's ready because full repayment is the only thing that will silence the peanut gallery.

But wouldn't a slow start help quiet everyone?

[Spekulatius]

Code:

[04:17] <@pirateat40> I'm handling the process as fast as possible.  At no point did I say it would be fast and easy, I said it would be done.  Thanks for your patience, I'm always watching.  Stay tuned.

Amazing how one could just refund the first few lenders as an act of good faith and just shut us all up. Instead... I think he likes the attention. I admit i find it all amusing though so it is a two way street.

That wouldn't shut you up and you know it.  He'll just wait until he's ready because full repayment is the only thing that will silence the peanut gallery.

peanut gallery, I like that 

[Chalkbot]

If I had that much of other people's money, I would certainly be scared and trying to get payouts done asap!

I can only assume that the process he is using is not manually going down a list of addresses and sending bitcoins, but rather it is somewhat automated. We may not see the payouts start for a while, but once the system is set up it could happen rapidly. This could be the entire point of this whole deal. How do you think the market is going to react to 500k bitcoins rapidly moving around?

honestly.. would you automate payments with a quickly written script or even one that has been slightly debugged and used before with
500K of bitcoins?

that would be crazy. I would do any payment over 100 btc by hand for sure.

I see your point, definitely. I was mainly putting the idea out there for a few reasons:
1. He's supposedly "working on it" yet no confirmed transactions so far.
2. I'll admit that yes, I do automate everything, even if it's not a good idea. So there has to be someone like me out there?
3. I was speculating that the entire point of his scheme was this moment that we are about to witness. I believe that this thing was visualized and tested in it's entirety before he accepted a single bitcoin. I don't know what will happen, but I'm betting on *something*.

[notme]

Code:

[04:17] <@pirateat40> I'm handling the process as fast as possible.  At no point did I say it would be fast and easy, I said it would be done.  Thanks for your patience, I'm always watching.  Stay tuned.

Amazing how one could just refund the first few lenders as an act of good faith and just shut us all up. Instead... I think he likes the attention. I admit i find it all amusing though so it is a two way street.

That wouldn't shut you up and you know it.  He'll just wait until he's ready because full repayment is the only thing that will silence the peanut gallery.

But wouldn't a slow start help quiet everyone?

He's either asleep or headed there soon.  10 payments then 8 hours of silence will only create a frenzy.

[fcmatt]

Code:

[04:17] <@pirateat40> I'm handling the process as fast as possible.  At no point did I say it would be fast and easy, I said it would be done.  Thanks for your patience, I'm always watching.  Stay tuned.

Amazing how one could just refund the first few lenders as an act of good faith and just shut us all up. Instead... I think he likes the attention. I admit i find it all amusing though so it is a two way street.

That wouldn't shut you up and you know it.  He'll just wait until he's ready because full repayment is the only thing that will silence the peanut gallery.

But wouldn't a slow start help quiet everyone?

He's either asleep or headed there soon.  10 payments then 8 hours of silence will only create a frenzy.

Notme.. Maybe we are nonchalant about this whole thing because most of us do not send btc to strangers. You sound a bit stressed. Maybe pirate should apologize for his dramatics? It is not us, those who sent him nothing, that started this soap opera. Look in the mirror. You are simply reaping what you sowed.

[dust]

If he had all the coins on hand, he could easily manually pay out over the course of the day.  He had the weekend to prepare too.  He doesn't need even need to pay out too many accounts because a lot of people invested through passthroughs.  If he pays back payb.tc, I bet it bitcoinmax users will recieve payments very quickly and efficiently.  Same with every other pass through.

tl;dr, pirate does not have all of the btc he owes on hand.  He is probably working with his clients to get back btc, buying coins on the market ... or running a ponzi.

[smoothie]

If he had all the coins on hand, he could easily manually pay out over the course of the day.  He had the weekend to prepare too.  He doesn't need even need to pay out too many accounts because a lot of people invested through passthroughs.  If he pays back payb.tc, I bet it bitcoinmax users will recieve payments very quickly and efficiently.  Same with every other pass through.

tl;dr, pirate does not have all of the btc he owes on hand.  He is probably working with his clients to get back btc, buying coins on the market ... or running a ponzi.

+1

"clients" = market

He is trying to buy cheap coins...he is shitting himself.