The gauntlet has officially been thrown down by Trendon Shavers aka. pirateat40

[mem]

Whiny bitch.

I agree...Pirateat40 is a whiny bitch lol  

Good job reading into my statement the opposite of what I said. The facts of the matter are that Pirate has started exactly one thread in relation to the closing the business, and bitlane possibly as many as five or even more.

In other words, fuck you.

Also, could you possibly be "mem" or related to her/him? You have a similar posting style (e.g., "I REPEAT EVERYTHING LOUDLY MANY TIMES BECAUSE THAT MAKES IT COME TRUE! LOL)

rjk, you must either be insane or a pirate shill.

You and bitlane were attacking me in tandem in a thread about BFL once.
Seems to be your usual tactic though, troll a thread and accuse everyone of being a sock puppet when they have no need for them (unlike pirate, bfl, inaba, etc).

[rjk]

Whiny bitch.

I agree...Pirateat40 is a whiny bitch lol  

Good job reading into my statement the opposite of what I said. The facts of the matter are that Pirate has started exactly one thread in relation to the closing the business, and bitlane possibly as many as five or even more.

In other words, fuck you.

Also, could you possibly be "mem" or related to her/him? You have a similar posting style (e.g., "I REPEAT EVERYTHING LOUDLY MANY TIMES BECAUSE THAT MAKES IT COME TRUE! LOL)

rjk, you must either be insane or a pirate shill.

You and bitlane were attacking me in tandem in a thread about BFL once.
Seems to be your usual tactic though, troll a thread and accuse everyone of being a sock puppet when they have no need for them (unlike pirate, bfl, inaba, etc).

It's true though, isn't it? You guys sound a lot like each other.

[gene]

But bro, he never said which Monday.

Monday February 29, 2013.

Today's forum read has been more rewarding than anything I could have imagined.

Thank you all so very much.

[axus]

You really think you're  going to be alone in some crusade, don't you? You think people better connected than you would let him get away with doing something illegal? 

No, but if my 'tantrums' end up getting the best of me and he splits..... the target pretty much gets transferred to my back immediately and NO JOKE this time.

He planned it as a Ponzi from the beginning.  The decision was made a long time ago, he's only having fun with you.  BTW his bet with nanotube defines a default as 14 days late on payout.  The longest he can go without paying is September 3rd.

[muyuu]

[Matthew N. Wright]

He planned it as a Ponzi from the beginning.  The decision was made a long time ago, he's only having fun with you. 

How sure are you he's a ponzi?

[Mousepotato]

He planned it as a Ponzi from the beginning.  The decision was made a long time ago, he's only having fun with you.  BTW his bet with nanotube defines a default as 14 days late on payout.  The longest he can go without paying is September 3rd.

Late last week and early this week, it sure seemed like a ponzi, didn't it?  But the farther out we go, the more I think that if he were going to just bail with the coins, he would have done it a long time ago.

[Matthew N. Wright]

He planned it as a Ponzi from the beginning.  The decision was made a long time ago, he's only having fun with you.  BTW his bet with nanotube defines a default as 14 days late on payout.  The longest he can go without paying is September 3rd.

Late last week and early this week, it sure seemed like a ponzi, didn't it?  But the farther out we go, the more I think that if he were going to just bail with the coins, he would have done it a long time ago.

Wisdom.,

[Gyrsur]

He planned it as a Ponzi from the beginning.  The decision was made a long time ago, he's only having fun with you. 

How sure are you he's a ponzi?

party is over after 44 weeks with 500k btc and 7% interest per week:

1. week 500,000  35,000 interest
...
45. week 9,814,229.794 btc

[finkleshnorts]

^^ best meme ever. Thanks for that.

[AsymmetricInformation]

He planned it as a Ponzi from the beginning.  The decision was made a long time ago, he's only having fun with you.  

How sure are you he's a ponzi?

party is over after 44 weeks with 500k btc and 7% interest per week:

1. week 500,000  35,000 interest
...
45. week 9,814,229.794 btc

+1

This is my logic as well...I'm sure he's such a great investor that he can afford to buy some twice in a market with no sellers.
Edit: Sarcasm

[Litecoin]

He planned it as a Ponzi from the beginning.  The decision was made a long time ago, he's only having fun with you.  

How sure are you he's a ponzi?

party is over after 44 weeks with 500k btc and 7% interest per week:

1. week 500,000  35,000 interest
...
45. week 9,814,229.794 btc

+1

This is my logic as well...I'm sure he's such a great investor that he can afford to buy some twice in a market with no sellers.
Edit: Sarcasm

If you really think that 500k BTC was invested in the first week...Then there's a hole in your logic.

[Gyrsur]

He planned it as a Ponzi from the beginning.  The decision was made a long time ago, he's only having fun with you.  

How sure are you he's a ponzi?

party is over after 44 weeks with 500k btc and 7% interest per week:

1. week 500,000  35,000 interest
...
45. week 9,814,229.794 btc

+1

This is my logic as well...I'm sure he's such a great investor that he can afford to buy some twice in a market with no sellers.
Edit: Sarcasm

If you really think that 500k BTC was invested in the first week...Then there's a hole in your logic.

the calculation is simplified but it shows definitely with this high interest rate business modell of him will not work for a long time. we have at the moment a total of 9,758,750 btc mined. so if he did start his business it was simple easy to do this math for himself and found out it will not work as a serious business. the fact of the possibility of earning this high interest rate is behind of the thoughts. so it cannot work! never ever!

[MrTeal]

How many times does it need to be said that not all Pirate customers reinvest the interest?

[Gyrsur]

How many times does it need to be said that not all Pirate customers reinvest the interest?

they will, trust me! if you get payouts on paper 7% every week i promise to you that you will reinvest every single satoshi you have!

EDIT: greed is all around!

[hgmichna]

How many times does it need to be said that not all Pirate customers reinvest the interest?

True, but by far the most did.

That is the whole idea of offering 7% interest per week (equaling 3,300% per year). That put pink dollar notes over the eyes of "investors". They calculated that they could become rich with a relatively small initial "investment", but only if they compounded the interest.

If more had decided to collect their interest via auto-payout, the whole Ponzi scheme would not have worked so well, because the exponential growth curve would quickly have turned into a fundamental problem.

It did anyway, but a little later, because even the few auto-payouts grew roughly exponentially. The pirate then tried to flatten the exponential curve a little by lowering his rates, but that triggered more payouts, as predicted, and ultimately killed the Ponzi scheme instantly last week.

Now we can speculate how precisely the pirate foresaw the end, whether he was taken by surprise by the withdrawal reactions, and whether he had actually hoped to continue for several more months, but I tend to think he had his bailout planned quite a while ago already.

If indeed he had planned everything carefully, then we must assume that he is not Trendon T. Shavers, if that person actually exists at all. Somehow the name looks synthetic to me, something like, "I will create a trend to shave you." Is Shavers a known last name at all? Do you know anyone named Shavers?

[finkleshnorts]

A man named Trendon Shavers exists and claims to be Pirateat40. This much is true beyond a reasonable doubt. 30 min. on google, facebook, and this forum will convince you.

[greyhawk]

A man named Trendon Shavers exists and claims to be Pirateat40. This much is true beyond a reasonable doubt. 30 min. on google, facebook, and this forum will convince you.

You mean "A man that uses the name Trendon Shavers on the Internet exists and claims to be Pirateat40."

[556j]

Pirate himself said in IRC that Trendon Shavers was DBA.

Anyway a name and social networks doesn't mean anything.

The only way it would be proof of anything is if someone had the ability to run his ID though NCIC or social + ID through a credit check. Even then that stuff can be faked but much more difficult.

[BadBear]

Pirate himself said in IRC that Trendon Shavers was DBA.

Anyway a name and social networks doesn't mean anything.

The only way it would be proof of anything is if someone had the ability to run his ID though NCIC or social + ID through a credit check. Even then that stuff can be faked but much more difficult.

http://www.sba.gov/content/register-your-fictitious-or-doing-business-dba-name/

For those who don't know what DBA means.