Bryan Micon's BitcoinMax Discussion Thread [orignal thread locked]

[Micon]

 Payb.tc has locked the original BitcoinMax thread https://bitcointalk.org/index.php?topic=83904.0   

1)  Mods this should not be allowed.  There is a major "possible" scam going down that Payb.tc helped perpetuate in one of the largest ways possible and discussion of BitcoinMax is extremely relevant at this time.  Pirate pulled a similar move with his thread so he could not be discredited with logic and reasoning and continue to scam another week or two.

2)  Let this thread serve as discussion about BitcoinMax while the original thread is closed.

My personal thoughts on this matter:

-- it is extremely scummy for Payb.tc to lock the thread preventing discussion at this critical time
-- Payb.tc said something that made me understand why he is so mad

Q. does everyone think 100% of my BST account belongs to 'bitcoinmax' and has had no other (private) cashflow whatsoever?

yikes.  So at this stage it is reasonable to assume that not only did Payb.tc gather up all the smaller monies to send to Pirate in 1 big payment each week ("small accounts welcome" - remember?) in addition to doing that amazing task for the scammer he also sent him a bunch of his own BTC and now has to deal with guys like me pointing out that he is scumbag for now not revealing the true size of his BCST account.   I feel this information is extremely relevant.  The biggest BTC debtor to date must owe a sick amount of BTC - maybe even as much as 5% of it - to the community - weather he pays or not, it's important to gauge the size of his obligation to better manage expectations no matter which side you are rooting for.

[bitlane]

Get used to it. Pirate locked his thread ages ago.

[Vladimir]

That modus operandi is quite familiar.

Now the only thing they need to do is to pay now. However they do all kinds of other stuff. Enlisting new help. Making more promises.

Just pay, what could be simpler.

[makomk]

BitcoinMax investors may also want to bear in mind this quote from pirateat40 in #btcst:

The repayment will begin with the earliest investors first, but its tricky cause some of them now run PPT accounts which isn't fair to some.

[softwareseller]

According to my bicoinmax page, there's 128K BTC before my account. I'm ranked according to account creation time 260+ of a total of 370+ accounts in bicoinmax.

[Vladimir]

The are are only 4 possibilities:

1. They have enough BTC to pay all outstanding debts.
2. They have enough USD to buy enough BTC to pay all outstanding debt.
3. Combination of the above.
4. Neither of the above.

by "have" above I mean "have and willing to pay".

if it is 1. then  what can be easier than making 5-6 transactions to 5-6 largest PPT's, takes 5 minutes tops. It is not happening.
if it is 2. good luck buying so many BTC.
if it is 3. ... obvious...
if it is 4. well you would have what you see now.

[julz]

The are are only 4 possibilities:

1. They have enough BTC to pay all outstanding debts.
2. They have enough USD to buy enough BTC to pay all outstanding debt.
3. Combination of the above.
4. Neither of the above.

by "have" above I mean "have and willing to pay".

if it is 1. then  what can be easier than making 5-6 transactions to 5-6 largest PPT's, takes 5 minutes tops. It is not happening.
if it is 2. good luck buying so many BTC.
if it is 3. ... obvious...
if it is 4. well you would have what you see now.

5. (or actually 2b) They are negotiating teaming up with a wealthy co-conspirator for a few mill - because the goodwill gained from paying back this small-scale scheme would make running a $50 Million ponzi easy in this gullible community.

[Vladimir]

5. They are negotiating teaming up with a wealthy co-conspirator for a few mill - because the goodwill gained from paying back this small-scale scheme would make running a $50 Million ponzi easy in this gullible community.

accepted as 2b.

[imsaguy]

Ever close a business?  You don't just make the decision, turn the lights off, lock the doors, and walk out and call it done.  There's a process you must go through to make sure everything is taken care of. 

The list of 4/5 options is rather lacking in the options presented.

[dust]

Ever close a business?  You don't just make the decision, turn the lights off, lock the doors, and walk out and call it done.  There's a process you must go through to make sure everything is taken care of. 

The list of 4/5 options is rather lacking in the options presented.

Ever owe some people 500,000 BTC? You don't just joke around on irc for a week, day trade on the market with a bunch of your lenders' coins, and only pay back a few small accounts.

[n8rwJeTt8TrrLKPa55eU]

Ever close a business?  You don't just make the decision, turn the lights off, lock the doors, and walk out and call it done.  There's a process you must go through to make sure everything is taken care of.  

The list of 4/5 options is rather lacking in the options presented.

Ever owe some people 500,000 BTC? You don't just joke around on irc for a week, day trade on the market with a bunch of your lenders' coins, and only pay back a few small accounts.

+500000.  Even if it is a legitimate business, the amateurish and negligent closeout process whose delays and lack of transparency have led to bond owners panicking and selling at distressed levels, fully deserves scolding.

[elux]

Ever close a business?  You don't just make the decision, turn the lights off, lock the doors, and walk out and call it done.  There's a process you must go through to make sure everything is taken care of. 

The list of 4/5 options is rather lacking in the options presented.

Ever owe some people 500,000 BTC? You don't just joke around on irc for a week, day trade on the market with a bunch of your lenders' coins, and only pay back a few small accounts.

Apparently, that's exactly what you do. (With great power comes great trolling.)

[SysRun]

Thanks Micon, keep up the good work.

[finkleshnorts]

Ever close a business?  You don't just make the decision, turn the lights off, lock the doors, and walk out and call it done.  There's a process you must go through to make sure everything is taken care of. 

The list of 4/5 options is rather lacking in the options presented.

Ever owe some people 500,000 BTC? You don't just joke around on irc for a week, day trade on the market with a bunch of your lenders' coins, and only pay back a few small accounts.

+1 dust, great point.

[elux]

It's been a week. Payouts should be done by now, according to pirate.

Has anyone contacted law enforcement yet? The Bitcoin Police even?

Or is everyone (who has something to lose) still busy brown nosing Santa Claus on IRC?

I guess the "ask difficult questions, no soup for you" gimmick was really that effective, huh?

Well...

Game Over.

Call the cops.

[finkleshnorts]

Payb.tc is one of the biggest scammers around.

Why do you think so?