Bascule
Newbie
 Offline
Activity: 28
Merit: 0
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August 28, 2012, 02:50:36 PM |
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ITT I have learned that Goat is greedy, stupid, amoral, and a liar.
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The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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JoelKatz
Legendary
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Activity: 1596
Merit: 1012
Democracy is vulnerable to a 51% attack.
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August 28, 2012, 02:55:45 PM |
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I think many here are so invested in the "ponzi proposition" that they're refusing to consider other possibilities.
...
Ponzi or not, there's no legal activity that I can think of that would allow paying such returns for any length of time.
We all did exactly what you just did. We considered it, and then rejected it as completely implausible. But even so, it doesn't matter. If something is indistinguishable from a Ponzi, and most likely a Ponzi, you should treat it like a Ponzi. If you have a gun that looks like it's loaded, you should probably treat it like it's loaded. |
I am an employee of Ripple. Follow me on Twitter @JoelKatz
1Joe1Katzci1rFcsr9HH7SLuHVnDy2aihZ BM-NBM3FRExVJSJJamV9ccgyWvQfratUHgN
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abracadabra
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August 28, 2012, 02:57:57 PM |
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Maybe this will teach people not to lend or borrow money anymore. It does not matter if it was a ponzi or not, there is a lot of risk in lending and borrowing.
That's exactly what brings an economy to a screeching halt. |
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Vladimir
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August 28, 2012, 03:08:00 PM |
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So all non-legitimate investments are ponzi's? No wonder! Good point. I think many here are so invested in the "ponzi proposition" that they're refusing to consider other possibilities. At the same time, it would be great if you could spell out your understanding of what pirate was up to (as long as it was legal ofc). What is there for you to lose at this point? Ponzi or not, there's no legal activity that I can think of that would allow paying such returns for any length of time. BTC is a legal grey area. There is nothing legally gray either about fraud or property rights. |
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MrTeal
Legendary
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Activity: 1274
Merit: 1004
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August 28, 2012, 03:09:50 PM |
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mtgox is not the only place to sell coins. its really a bad place if you want to stay under the radar. i wonder if D&T has even heard of a place call fastcash4bitcoin.com Here you can move BTC for cash with no ID... This is one of many...
I really hope you're just trolling Goat.  |
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sadpandatech
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August 28, 2012, 03:14:07 PM |
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mtgox is not the only place to sell coins. its really a bad place if you want to stay under the radar. i wonder if D&T has even heard of a place call fastcash4bitcoin.com Here you can move BTC for cash with no ID... This is one of many...
I really hope you're just trolling Goat.  Goat, as your attorney, I advise you to just eat the damn pills and leave it at that.   |
If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system.
- GA
It is being worked on by smart people. -DamienBlack
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bitlane
Internet detective
Sr. Member
Offline
Activity: 462
Merit: 250
I heart thebaron
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August 28, 2012, 03:18:31 PM |
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We are definitely in Bat Country now.....
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hashman
Legendary
Offline
Activity: 1264
Merit: 1008
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August 28, 2012, 03:24:11 PM |
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I believe the point of the OP is that the large piles of gold accumulated by pirate drew in accomplices, who accepted some guilt in helping to dupe more greedy fools. The responses of said accomplices (denial) only show that there are lessons being learned here on both sides: 1) The lenders are learning the psychological effect of piles of gold (i.e. greed). Namely, it can make people do stupid stuff that results in losses. It's an ancient story but if you don't know it, you might get bit. It's ok to trust people anonymously but if something seems to good to be true, step back. You don't need that shit. Enjoy your wealth, don't sweat all day and risk it all in the hope to make it larger. Careful or you wind up like gollum. 2) The borrowers and accomplices are learning the same lesson. It doesn't really feel that great to steal candy from babies after all does it. I'd rather have 100 coins and not a care in the world than 1000 coins and a bunch of trolls on my ass every day nibbling at my karma. Live and learn. There will always be people needing to learn these lessons. Bitcoin is just a new way to learn them One more point: did Matthew actually put any money on the table? |
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DeathAndTaxes
Donator
Legendary
Offline
Activity: 1218
Merit: 1079
Gerald Davis
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August 28, 2012, 03:32:02 PM |
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One more point: did Matthew actually put any money on the table?
No. He has stated he will payout if he loses but hasn't escrowed any of the 10K BTC he wagered. |
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Snapman
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August 28, 2012, 03:34:18 PM |
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An mtgox is not the only place to sell coins. its really a bad place if you want to stay under the radar. i wonder if D&T has even heard of a place call fastcash4bitcoin.com Here you can move BTC for cash with no ID... This is one of many...
I really hope you're just trolling Goat. Goat, as your attorney, I advise you to just eat the damn pills and leave it at that. Yes Sir! As my attorney has advised me, I am done with this thread! And we will need the cocaine... and acapulco shirts |
BTCRadio: 17cafKShokyQCbaNuzaDo5HLoSnffMNPAs
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michaelmclees
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August 28, 2012, 03:49:30 PM |
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One more point: did Matthew actually put any money on the table?
No. He has stated he will payout if he loses but hasn't escrowed any of the 10K BTC he wagered. He hasn't even proven he controls enough coins to pay out, despite being asked to multiple times. |
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Inedible
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August 28, 2012, 03:51:21 PM |
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He hasn't even proven he controls enough coins to pay out, despite being asked to multiple times.
He's ruined on this forum/community if he doesn't. He's pretty much staked his whole reputation on it so even if he doesn't pay, everyone still gets their pound of flesh. |
If this post was useful, interesting or entertaining, then you've misunderstood.
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MrTeal
Legendary
Offline
Activity: 1274
Merit: 1004
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August 28, 2012, 03:52:38 PM |
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He was trying to earlier today in IRC. I only glanced in once in awhile, but apparently he was having issues with downloading the blockchain, then sent to a different computer who's wallet didn't have the blockchain in order to sign a message, and has to download it there as well.
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the_thing
Sr. Member
Offline
Activity: 546
Merit: 252
Proof-of-Stake Blockchain Network
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August 28, 2012, 03:53:31 PM |
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It is ironic how Bitcoin is being destroyed by idiocy of its users. I wonder what Satoshi thinks when he reads threads about guys falling for Pirate's scam.
On a side note - when is Pirate supposed to pay out? I must sell my btcs until then.
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BR0KK
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August 28, 2012, 04:02:34 PM |
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Why is bitcoin being destroyed by that scam (or fail; since nobody knows what's really is?)?
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cablepair
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August 28, 2012, 04:12:18 PM |
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It is ironic how Bitcoin is being destroyed by idiocy of its users. I wonder what Satoshi thinks when he reads threads about guys falling for Pirate's scam.
On a side note - when is Pirate supposed to pay out? I must sell my btcs until then.
Why is bitcoin being destroyed by that scam (or fail; since nobody knows what's really is?)?
If anything history has taught us that these big scam's always eventually make us stronger. Look at the Mtgox Hack of last summer... people were saying Bitcoin was dead and gone when the price crashed to $2 but it made a very strong come back and the network is more secure than ever. When Pirate closed down shop the Bitcoin value was almost cut in half (from $15-$7.50) however in only what a week's time has recovered very nicely in a much shorter amount of time than the last big disaster. |
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malevolent
can into space
Legendary
Offline
Activity: 3472
Merit: 1721
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August 28, 2012, 04:27:38 PM |
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He's ruined on this forum/community if he doesn't.
Not only in this community but also IRL, AFAIK people know his identity and more or less where he lives. I wonder what has gone wrong or was he really that stupid to run a ponzi scheme? I will retract my words if it proves to be otherwise but so far it seems there is little doubt that it's a pyramid. |
Signature space available for rent.
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bitcoinBull
Legendary
Offline
Activity: 826
Merit: 1001
rippleFanatic
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August 28, 2012, 04:39:05 PM |
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I think many here are so invested in the "ponzi proposition" that they're refusing to consider other possibilities.
...
Ponzi or not, there's no legal activity that I can think of that would allow paying such returns for any length of time.
We all did exactly what you just did. We considered it, and then rejected it as completely implausible. But even so, it doesn't matter. If something is indistinguishable from a Ponzi, and most likely a Ponzi, you should treat it like a Ponzi. If you have a gun that looks like it's loaded, you should probably treat it like it's loaded. Duck fallacy!  |
College of Bucking Bulls Knowledge
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greyhawk
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August 28, 2012, 04:54:30 PM |
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He's ruined on this forum/community if he doesn't.
Not only in this community but also IRL, AFAIK people know his identity and more or less where he lives. If someone was selling pitchforks for BTC, they could make a killing (snicker) right now . |
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stochastic
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August 28, 2012, 05:12:46 PM |
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Maybe this will teach people not to lend or borrow money anymore. It does not matter if it was a ponzi or not, there is a lot of risk in lending and borrowing.
That's exactly what brings an economy to a screeching halt. That is what THEY want you to think an economy needs. There is no problem investing money into projects rather than loaning money out. Also, borrowing money to build businesses or to finance a lifestyle is adding more risk than is necessary. Most businesses fail because they borrow too much money, don't have a decent income stream, and then can't make the interest payments. Start small, build your income up and that company would be in a better financial situation than a competitor that is swimming in debt. People, governments, and societies can't borrow their way to prosperity. |
Introducing constraints to the economy only serves to limit what can be economical.
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