Last I heard assets with pirate exposure were still selling for 80% of face value. Anyone have an update?
24h average on the GLBSE is at ~50%.
I am shocked it is that high.
It can't go lower than that while Matthew is offering even odds on a default. Assuming an investor
has the cash available and trusts Matthew, he can get 50% of his "investment" back by simply making a bet with Matthew for 50% of his exposure.
Pirate defaults : Investment lost, bet won.
Pirate pays out 100% : Investment safe, bet loses.
Best case : Pirate pays out 99% and bet wins.
I really don't understand Matthew's motivation here. To risk 10k BTC on some guy (who you yourself claim not to trust) paying out, simply to make a point about how people should say:
It is
probably a ponzi.
rather than
It is a ponzi.
All I can say is he
probably knows something we don't.
EDITED: Realised an investor wouldn't need to have the cash available, since he will only have to pay Matthew once Pirate has paid out.
