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Author Topic: Hey Pirate, it's Monday....WHERE ARE MY BITCOINS ?  (Read 17212 times)
teflone
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August 22, 2012, 05:10:09 PM
 #161

I think the bottleneck in this process is the market prices, no? 



DING DING DING!!!!



Someone finally gets it..



The panic didnt go as well as planned..   

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SaltySpitoon
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August 22, 2012, 05:12:52 PM
 #162

Bitlane, if he defaults and you are looking to find him, my first suggestion would be to investigate Somalia, lots of work for a pirate there.

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August 22, 2012, 05:17:43 PM
 #163

From his original announcement:

Quote
So now what?
I’ve spoken with my clients over the last week and come to an agreement that would allow me to close down my operation within a week.  Currently my reserve (operating wallets) are drained from fulfilling the withdraw spree that happened after the rate drop announcement.  All withdraws at this point will be delayed until Monday when the shutdown process begins..  

At this point I will no longer accept deposits.  Any coins sent into the system as of now will be returned immediately.

When will I get my coins?
Starting Monday I’ll begin systematically closing and withdrawing accounts as coins are transferred.  I don't expect the entire process to last longer than a week. The moment your account is closed you’ll receive your coins plus any interest accrued up to the hour it was sent.

That sounds quite different. The Monday in his announcements has already passed. His announcement says in a somewhat cloudy way that withdraws would begin on Monday (day before yesterday) and would be spread out over this week. So, according to his words, the last payment could be delayed until the coming Sunday.

This should indicate that something is wrong, as there has been no payment whatsoever, just as predicted by several people here, including myself. Of course some will still hope that he suddenly begins to pay, and some will keep hoping that until Sunday and even later.

My personal stance is that I never believed anything the pirate said, but he will still be measured by his words.
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August 22, 2012, 05:18:26 PM
 #164

The panic didnt go as well as planned..  

Looking at chart, most of volume was in 13-10$ range during the dump. It is reasonable to assume that if our miracle worker indeed has dumped lots of BTC at "high prices" his average would be at best about 12$



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teflone
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August 22, 2012, 05:22:49 PM
 #165

The panic didnt go as well as planned..  

Looking at chart, most of volume was in 13-10$ range during the dump. It is reasonable to assume that if our miracle worker indeed has dumped lots of BTC at "high prices" his average would be at best about 12$




Ok.. continue your train of thought please..


If he's legit, he has to buy back..

So.. at an average of 12 say..  he would need it to sink a bit further to truly gain any ground when rebuying.. depending on liquidity..


What are your thoughts?

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August 22, 2012, 05:22:57 PM
 #166

First, your scenario can't avoid a technical default, since he already *has* technically defaulted.
Agreed. Pirate actually defaulted on Monday.

But in the terms of his bet with Vandroiy he has two weeks grace. And in the terms of Matthew's bet he has three weeks grace.


I can't wait to see how the "terms" of those bets will morph.

i smell big trouble...


Now imagine Atlas would have been the one making Matt's bet. (cue changing of the bet terms every 30 seconds)


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August 22, 2012, 09:11:52 PM
 #167

Bitlane, if he defaults and you are looking to find him, my first suggestion would be to investigate Somalia, lots of work for a pirate there.

Somalian Pirates We~!

http://www.youtube.com/watch?v=C1_NpLKnWLU

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Vladimir
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August 23, 2012, 01:54:45 AM
 #168

Bitlane, if he defaults and you are looking to find him, my first suggestion would be to investigate Somalia, lots of work for a pirate there.

Somalian Pirates We~!

http://www.youtube.com/watch?v=C1_NpLKnWLU

back at ya
http://www.youtube.com/watch?v=249RL82kjP4

this too

http://www.youtube.com/watch?v=aTMRJUH1FdA

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Hunterbunter
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August 23, 2012, 02:44:26 AM
 #169

I think the bottleneck in this process is the market prices, no? 

DING DING DING!!!!
Someone finally gets it..
The panic didnt go as well as planned..   

It's also possible he's expecting the price to go back up before he can dump again and buy cheaper. It's obvious he doesn't have enough coins to pay everyone back right now, and I'll bet he caught a ton of coins @ $8, but it wasn't enough.

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