#BTCST Updates. Latest: August 28th 6:16PM EST

[Shadow383]

No he did; in IRC at the time of closing.  Now he may have been full of shit but all the guesstimates and theories were based on that.

Also dammit I used the wrong account to post that & this.

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[Electricbees]

Anddddddddddd...
Everyone's fucked. Moving on...

[Shadow383]

No he did; in IRC at the time of closing.  Now he may have been full of shit but all the guesstimates and theories were based on that.

I missed that then. Then again, it seems entirely plausible Pirate would refer to the number of coins in his wallet(s) instead of the principals + fictional accumulated interest.

yup.  He was talking about how much he got away with.

That bad boy:  https://bitcointalk.org/index.php?topic=94675.0   had 500k ish BTC in it, the wallet was built over the course of 2012.

Best fit numbers for this scam:

1,000,000 BTC on paper

~700k BTC collected

~200k BTC paid out in interest over this year, most of it last 3-6 weeks

~500k BTC left when he now owes ~70k/wk BTC on paper,  some will take only interest out, most leave it in, but then with the interest takers + a few principal withdraws, the writing was on the wall for Pirate that he'd be broke in just a few short weeks of interest + withdraws, so just stop now with 500k+ BTC.

This makes no sense... I thought it was already confirmed that the big account belonged to silk road. It makes perfect sense.

How?
Why would the silk road:

1-Make 80k in withdrawals coinciding with pirate's attempt to "manipulate the market" with big selloffs when the price hit $9?
2-Suddenly decide to start emptying the address and laundering the coins as soon as BS&T collapsed?

[Phraust]

Suddenly decide to start emptying the address and laundering the coins as soon as BS&T collapsed so much attention was drawn to it?

[Micon]

Suddenly decide to start emptying the address and laundering the coins as soon as BS&T collapsed so much attention was drawn to it?

+1

biggest reason for it being Pirate booty is that nothing else - I mean nothing else in the entire BTC universe makes sense to have 5% of bitcoins in 1 wallet, built starting early this year until BCST busto. Nothing else it could be.

[Grinder]

biggest reason for it being Pirate booty is that nothing else - I mean nothing else in the entire BTC universe makes sense to have 5% of bitcoins in 1 wallet, built starting early this year until BCST busto. Nothing else it could be.

MtGox moved about 424242 coins at the same time after the hack to prove they were still in control of them, and they probably have more now. ArtFortz mined a huge amount of the coins in the beginning so if he hasn't sold as many as he said he may have twice that amount. Some unknown rich guy may even just have bought that amount speculating that the price will rise.

[sadpandatech]

biggest reason for it being Pirate booty is that nothing else - I mean nothing else in the entire BTC universe makes sense to have 5% of bitcoins in 1 wallet, built starting early this year until BCST busto. Nothing else it could be.

MtGox moved about 424242 coins at the same time after the hack to prove they were still in control of them, and they probably have more now. ArtFortz mined a huge amount of the coins in the beginning so if he hasn't sold as many as he said he may have twice that amount. Some unknown rich guy may even just have bought that amount speculating that the price will rise.

That and we have not done any technical analysis to link the 1Dky address definitively to any other entity at this time.

With the publicly and not so publicly available addresses (very few thus far) that I have acquired from despositors/receivers of BS&T, there was only a superficial link to that address. It was not enough beyond what you can find with most active addresses to make a determination. Hopefully more data will come available soon and we can make that determination.

And, Micon give it the fuck up already. You are not touching on anything new at all. We have been discussing the possible link to that address for months and many have been tracking coins in and out of it for even longer.

[P4man]

MtGox moved about 424242 coins at the same time after the hack to prove they were still in control of them, and they probably have more now. ArtFortz mined a huge amount of the coins in the beginning so if he hasn't sold as many as he said he may have twice that amount. Some unknown rich guy may even just have bought that amount speculating that the price will rise.

While they may have such amount of coins, neither MtGox or ArtFortz would be likely to build up a wallet like this over the past 6 months, and then liquidate it just when pirate fails.

We may never know for sure, but unless someone other than pirate stands up and proves ownership of that wallet,  its definitely the best hypothesis available..

[ErebusBat]

MtGox moved about 424242 coins at the same time after the hack to prove they were still in control of them, and they probably have more now. ArtFortz mined a huge amount of the coins in the beginning so if he hasn't sold as many as he said he may have twice that amount. Some unknown rich guy may even just have bought that amount speculating that the price will rise.

While they may have such amount of coins, neither MtGox or ArtFortz would be likely to build up a wallet like this over the past 6 months, and then liquidate it just when pirate fails.

We may never know for sure, but unless someone other than pirate stands up and proves ownership of that wallet,  its definitely the best hypothesis available..

While I do agree that this is likely the main BTCST wallet your statement of MtGox liquidating doesn't really make sense.

If this were some sort of MtGox cold/long-term storage then:

 1. They would probably move large (10+k) batches at a time
 2. As they were used in the exchange it would appear as laundering due to the wide audience of gox.  Someone else used the term "bees with diabetes"

So it is quite possible that it is something other than the pirate wallet, even though a lot of things do fit for BTCST

[imsaguy]

MtGox moved about 424242 coins at the same time after the hack to prove they were still in control of them, and they probably have more now. ArtFortz mined a huge amount of the coins in the beginning so if he hasn't sold as many as he said he may have twice that amount. Some unknown rich guy may even just have bought that amount speculating that the price will rise.

While they may have such amount of coins, neither MtGox or ArtFortz would be likely to build up a wallet like this over the past 6 months, and then liquidate it just when pirate fails.

We may never know for sure, but unless someone other than pirate stands up and proves ownership of that wallet,  its definitely the best hypothesis available..

While I do agree that this is likely the main BTCST wallet your statement of MtGox liquidating doesn't really make sense.

If this were some sort of MtGox cold/long-term storage then:

 1. They would probably move large (10+k) batches at a time
 2. As they were used in the exchange it would appear as laundering due to the wide audience of gox.  Someone else used the term "bees with diabetes"

So it is quite possible that it is something other than the pirate wallet, even though a lot of things do fit for BTCST

Has anyone asked magicaltux?

[ehmdjii]

does anyone have a log from what has been said by pirate on #btcst last night?

[BrightAnarchist]

does anyone have a log from what has been said by pirate on #btcst last night?

I was there, and he provided no information other than stating that he was not involved in zeek rewards.

[vampire]

does anyone have a log from what has been said by pirate on #btcst last night?

16:55 <@pirateat40> bot
16:56 <@pirateat40> I told him
16:56 <@pirateat40> TuxBlackEdo, no sorry you're stuck here.
16:58 <@pirateat40> tbcoin, I really wish I could, but don't have firm information yet and promised before I wouldn't give out details unless I knew for sure.
16:58 <@pirateat40> zeek?
16:58 <@pirateat40> Is that a new startup?
16:58 <@pirateat40>
16:58 <@pirateat40> um
16:59 <@pirateat40> badbitcoin, i had no idea it was going on and no nothing to do with me.
17:00 <@pirateat40> lol
17:00 <@pirateat40> really
17:01 <@pirateat40> aq83, i didn't team up with anyone.  I lost one bet, im not going to lose another.
17:02 <@pirateat40> badbitcoin, reading...
17:03 <@pirateat40> UncleScrooge, nope, those that didn't missed their chance and can battle it out on the high seas.
17:04 <@pirateat40> tbcoin, I wish i was the boss.
17:05 <@pirateat40> Phraust, no comment
17:05 <@pirateat40> BarnacleTsunami, no comment
17:05 <@pirateat40> OneFixt, no pm's, sorry.
17:06 <@pirateat40> OneFixt, you can email me anytime.
17:08 <@pirateat40> Oinsane1, nope those are clear
17:13 <@pirateat40> Have a good evening, night or morning guys.  By for now.
17:13 <@pirateat40> Bye*

[Shadow383]

does anyone have a log from what has been said by pirate on #btcst last night?

I was there, and he provided no information other than stating that he was not involved in zeek rewards.

Does anyone still believe his shit? 

[bitlane]

Something has recently come into my brain, that I am unable to let go of, as it almost seems plausible....

If he was in fact selling coins-for-cash, perhaps he's at a point now where he is having a difficult time getting money back onto/into the Exchange, in order to repurchase replacement coins on a large scale, while still remaining 'under the radar' of the IRS/AML Regs etc ?

Obviously I am 'spit-balling' here....but as I said, it was an idea.

So in short: If anyone was planning on flying a plane into his home, PLEASE DO NOT, as he could very well have a mattress stuffed full of $100 bills, ready to purchase bitcoins

[evolve]

Oooooooor, and stay with me now, he just stole your money and has no intention of returning it.

The fact that this guy still has supporters is, quite frankly, baffling.

Your money is gone, dude, and its not coming back.

[mobodick]

Something has recently come into my brain, that I am unable to let go of, as it almost seems plausible....

If he was in fact selling coins-for-cash, perhaps he's at a point now where he is having a difficult time getting money back onto/into the Exchange, in order to repurchase replacement coins on a large scale, while still remaining 'under the radar' of the IRS/AML Regs etc ?

Obviously I am 'spit-balling' here....but as I said, it was an idea.

So in short: If anyone was planning on flying a plane into his home, PLEASE DO NOT, as he could very well have a mattress stuffed full of $100 bills, ready to purchase bitcoins

STFU and don't give the man any ideas.
Before you know it he'll be paying back in bits of mattress.
...

[greyhawk]

I've been trying to mine mattresscoin and I don't think I'm getting enough gigasnores on my BFL (Bed with Fluffy Linen). Is there a technician or someone who could take a look at this?

[mobodick]

I've been trying to mine mattresscoin and I don't think I'm getting enough gigasnores on my BFL (Bed with Fluffy Linen). Is there a technician or someone who could take a look at this?

Maybe you haven't stuffed it with money enough...

[mobodick]

--- please ignore