Pirate accomplices

[P4man]

Pirate's scheme from the getgo had all the hallmarks of a typical ponzi.  Without more information than what was and is known publicly, anyone who can think should and would have assumed it to be a ponzi.

The only reason I gave this scheme any credibility whatsoever was the fact that a lot of generally intelligent and (apparently at least ) even honest long timers on this forum gave it not only the benefit of the doubt, but full credibility. Many of them did know more than I did, because they met Pirate, because some at least claimed to know and understand his business model.  People who I assume to be smart enough to recognize a ponzi when staring at one this obvious. If they were totally convinced it wasn't one, what was it they knew that I did not?

This is still true today, perhaps even more so than 6 months ago. IF 6 months ago, I was 95% sure  it was a ponzi, right now, ironically,  I am *less * sure . Why ? Because these same, generally intelligent people  dont seem to be thrown off one bit, despite the fact that it looks like a ponzi now more than anything ever could.  Because I dont believe Matthew, crazy as he may be, is actually stupid enough or can even afford to bet $1M on something he wouldnt be sure off or doesnt  understand himself.  Because none of those big Pirate backers are getting out their pitchforks. In fact most of them are still tacitly supporting him.

There are not so many explications for this. Either it is not a ponzi and somehow Pirate will pay up, crazy as that may sound to anyone who has no more information than I have.

Or if it is a ponzi, then the vast majority of pirate backers were given an incentive to pretend to believe him. I might believe Goat is stupid enough to be fooled  by pirate, but I will not believe that from most of the others. IOW, if this unfolds like it appears it will,  they would be knowing accomplices.  And very effective ones at that.

[1714871599]

1714871599

[1714871599]

1714871599

[1714871599]

1714871599

[1714871599]

1714871599

[1714871599]

1714871599

[Matthew N. Wright]

Pirate's scheme from the getgo had all the hallmarks of a typical ponzi.  Without more information than what was and is known publicly, anyone who can think should and would have assumed it to be a ponzi.

The only reason I gave this scheme any credibility whatsoever was the fact that a lot of generally intelligent and (apparently at least ) even honest long timers on this forum gave it not only the benefit of the doubt, but full credibility. Many of them did know more than I did, because they met Pirate, because some at least claimed to know and understand his business model.  People who I assume to be smart enough to recognize a ponzi when staring at one this obvious. If they were totally convinced it wasn't one, what was it they knew that I did not?

This is still true today, perhaps even more so than 6 months ago. IF 6 months ago, I was 95% sure  it was a ponzi, right now, ironically,  I am *less * sure . Why ? Because these same, generally intelligent people  dont seem to be thrown off one bit, despite the fact that it looks like a ponzi now more than anything ever could.  Because I dont believe Matthew, crazy as he may be, is actually stupid enough or can even afford to bet $1M on something he wouldnt be sure off or doesnt  understand himself.  Because none of those big Pirate backers are getting out their pitchforks. In fact most of them are still tacitly supporting him.

There are not so many explications for this. Either it is not a ponzi and somehow Pirate will pay up, crazy as that may sound to anyone who has no more information than I have.

Or if it is a ponzi, then the vast majority of pirate backers were given an incentive to pretend to believe him. I might believe Goat is stupid enough to be fooled  by pirate, but I will not believe that from most of the others. IOW, if this unfolds like it appears it will,  they would be knowing accomplices.  And very effective ones at that.

What happened to the conspiracy theory where I was dating Pirate's sister? I liked that one better.  

I agree. If it turns out to be a Ponzi, the people who met him in real life and agreed to run passthrus etc should be looked at more closely.

[markm]

Because none of those big Pirate backers are getting out their pitchforks. In fact most of them are still tacitly supporting him.

There are not so many explications for this. Either it is not a ponzi and somehow Pirate will pay up, crazy as that may sound to anyone who has no more information than I have.

Remember that early adopters could easily have already received far more than they put in. Rather than have it clawed back it might seem more politic to them to simply continue the charade...

-MarkM-

[P4man]

If you werent fooled, then either you are still convinced pirate will pay out in full, or you are saying that you knew all along. Which is it?

[CoinCidental]

all these new guys  with under 10 posts defending pirate and blaming the victims of the theft look highly suspicious to me
same with people saying stuff like ,dont be posting his personal details online just because he scammed you in obvious ponzi etc like WTF ....

if he did  rob $5.5 million worth of bitcoins ,dont expect  "privacy to be respected"

also anyone buying up reduced priced accounts deserves further  scrutiny as well in the even that pirate does manage to buy his debt at about 30% of face value and then pay the remaining debtors

if he deliberately  created enough panic that he can pay back 2 mil instead of 5.5 mil i would still class that as a partial scam /default

[Justin00]

Pirate's scheme from the getgo had all the hallmarks of a typical ponzi.  Without more information than what was and is known publicly, anyone who can think should and would have assumed it to be a ponzi.

The only reason I gave this scheme any credibility whatsoever was the fact that a lot of generally intelligent and (apparently at least ) even honest long timers on this forum gave it not only the benefit of the doubt, but full credibility. Many of them did know more than I did, because they met Pirate, because some at least claimed to know and understand his business model.  People who I assume to be smart enough to recognize a ponzi when staring at one this obvious. If they were totally convinced it wasn't one, what was it they knew that I did not?

This is still true today, perhaps even more so than 6 months ago. IF 6 months ago, I was 95% sure  it was a ponzi, right now, ironically,  I am *less * sure . Why ? Because these same, generally intelligent people  dont seem to be thrown off one bit, despite the fact that it looks like a ponzi now more than anything ever could.  Because I dont believe Matthew, crazy as he may be, is actually stupid enough or can even afford to bet $1M on something he wouldnt be sure off or doesnt  understand himself.  Because none of those big Pirate backers are getting out their pitchforks. In fact most of them are still tacitly supporting him.

There are not so many explications for this. Either it is not a ponzi and somehow Pirate will pay up, crazy as that may sound to anyone who has no more information than I have.

Or if it is a ponzi, then the vast majority of pirate backers were given an incentive to pretend to believe him. I might believe Goat is stupid enough to be fooled  by pirate, but I will not believe that from most of the others. IOW, if this unfolds like it appears it will,  they would be knowing accomplices.  And very effective ones at that.

What happened to the conspiracy theory where I was dating Pirate's sister? I liked that one better.  

I agree. If it turns out to be a Ponzi, the people who met him in real life and agreed to run passthrus etc should be looked at more closely.

If it all turns bad I dont think its fair to say *all* the PPT ppls were accomplices... some were pretty much saying they know how it all works and its safe blah blah blah and others were not... for e.g I dont think I saw Payb.tc give his opinion on if it was safe, he made the risks very clear... but yeah.. others operators were clearly trying to get more business.

[P4man]

If you werent fooled, then either you are still convinced pirate will pay out in full, or you are saying that you knew all along. Which is it?

    Not so sure of yourself anymore eh? lol

Even if you had a brain, I cant look in to yours. The issue here is not if I am sure, a more interesting question is if you are since you have been on the take and convinced countless people to deposit. So are you saying you scammed them knowingly or that you still stand behind pirate?

[unclescrooge]

You can know how it worked and still know the risks. Do you know failed safe business? I don't.

[Vladimir]

The following points in relation to all of the PPT operators (and GLBSE operators too) shall be considered:
- have they managed a proxy for an opaque investment that has exhibited all the classical signs of a ponzi scheme?
- have they profited from prolongation and proliferation of a ponzi scheme?
- have they owed a duty of care and fiduciary duty to anyone who gave them money?
- have they provided adequate risk disclosures?
- have they implied at any time that pirate is not operating a ponzi scheme?
- have they implied at any time that they know some magical/secret biz model behind pirate operation?
- have they implied at any time that they know true identity of pirate?
- have they promoted investment into and lent credibity (or false credibility) to a ponzi scheme in any way?
- ought they to know better?

I personally have ALL PPT operators on my shit list permanently. Which means that I will do my best to avoid doing any business with those people myself and will encourage all my associates to avoid doing any business with those people and I will refuse to be a member of any organisation or association which also has any of those people as members.

But that's just me, your mileage may vary.

for what it worth:

You guys are so ridiculous sometimes.

I've dared to looked at a pirate, eye to eye, and I can say that I'm happy that I did.

Do not play "idiots" with us. Say that you have met that guy with moniker pirateat40 and are satisfied that he was present here and that that you are satisfied that he is indeed the same person who runs this ponzi and that as supposedly "respected community member with a good reputation" vouch for him etc... Or say that you have not.

For all we can see you are trying to post ironic/vague statements supporting proliferation of a ponzi scheme in hope that somehow you will not get a scammer tag and be ostracised by this community as every single fraudster involved into this either directly or indirectly should.

Do you think that by posting vague statements you will avoid consequences of being promoter of this fraud scheme? There is that list of all those shills and ponzi co-conspirators who are all so vocal in vague and supposedly "respected" and promote the poinzi tirelessly. You shills be ready for the shitstorm that will happen once YOUR ponzi implodes. You will be guilty in eyes of this community and in the eyes of law as much as the direct ponzi operator himself.

Nobody here is ridiculous but a bunch of fraudsters who promote this poinzi and even more so all the idiots who eat all the shit they spawn.

Lets make a list with who is on the payroll of pirate or has any personal interest in any of his operations:
- Chaang Noi (Goat) ช้างน้อย (runs PiratePassThrough Bond or is affiliated with one)
- BurtW (runs PiratePassThrough Bond or is affiliated with one)
- PatrickHarnett (runs PiratePassThrough Bond or is affiliated with one)
- dollartrader (runs PiratePassThrough Bond or is affiliated with one)
- hashking (runs PiratePassThrough Bond or is affiliated with one)
- imsaguy (runs PiratePassThrough Bond or is affiliated with one)
- ineededausername (runs PiratePassThrough Bond or is affiliated with one)
- bitfoo (runs PiratePassThrough Bond or is affiliated with one)
- pay.btc (runs PiratePassThrough Bond or is affiliated with one)
- gigavps (runs PiratePassThrough Bond or is affiliated with one)
- ...
who else??

Good start. It seems like automatic scammer tag list the moment the ponzi implodes as well as list of scammers for all the criminal reports that will be lodged eventually when this indeed blows over as many think it will.

Now a little exercise for all the readers. See the posting history of individuals mentioned above. See their mission  here for yourself.

[bitlane]

Vladimir, you forgot the ALL TIME CLASSIC.....

An easier way to spot a scammer is this simple phrase.

Honest people leave tracks in the sand.

I wonder what that makes a person who tries to wipe his tracks out of the sand then ?

[crazy_rabbit]

I haven't seen anyone mention anywhere the possibility that Pirate himself is getting screwed by someone else. If he really was he was using the BTC to fund some sort of real world operation, it's possible someone else saw the chance to use him as a fall guy and a sucker in his in own right. They saw a way to get him to suck 5 million out of the bitcoin community while leading him along the whole time. It sounds like an excuse, but it's entirely possible.

[bitlane]

I haven't seen anyone mention anywhere the possibility that Pirate himself is getting screwed by someone else. If he really was he was using the BTC to fund some sort of real world operation, it's possible someone else saw the chance to use him as a fall guy and a sucker in his in own right. They saw a way to get him to suck 5 million out of the bitcoin community while leading him along the whole time. It sounds like an excuse, but it's entirely possible.

Yes...and the Moon is made of Cheese.

[Vladimir]

Do you mean something like this http://bitcoinmagazine.net/ponzi-schemes-the-danger-of-high-interest-savings-funds/ ?

[repentance]

I haven't seen anyone mention anywhere the possibility that Pirate himself is getting screwed by someone else. If he really was he was using the BTC to fund some sort of real world operation, it's possible someone else saw the chance to use him as a fall guy and a sucker in his in own right. They saw a way to get him to suck 5 million out of the bitcoin community while leading him along the whole time. It sounds like an excuse, but it's entirely possible.

Maybe he knows a Chinese relic collector named Chen.   

[Bitcoin Oz]

Lets be honest. Nothing will happen to anyone just like all the scams before.

Show me one time a large theft of bitcoin ever got dealt with criminal charges?

[bitlane]

Lets be honest. Nothing will happen to anyone just like all the scams before.

Show me one time a large theft of bitcoin ever got dealt with criminal charges?

Show me a case where the PERP was in the USA and known 100%

http://www.youtube.com/watch?v=SQ3_gfgiNz8

[Bitcoin Oz]

Lets be honest. Nothing will happen to anyone just like all the scams before.

Show me one time a large theft of bitcoin ever got dealt with criminal charges?

Show me a case where the PERP was in the USA and known 100%

http://www.youtube.com/watch?v=SQ3_gfgiNz8

Jonathan Ryan Owens 

[Frankie]

If it all turns bad I dont think its fair to say *all* the PPT ppls were accomplices... some were pretty much saying they know how it all works and its safe blah blah blah and others were not... for e.g I dont think I saw Payb.tc give his opinion on if it was safe, he made the risks very clear... but yeah.. others operators were clearly trying to get more business.

Very few of the apparent shills were saying anything so modest (something like "well, he's always paid me back" might have been reasonable).  Instead, they launched in to tirades about how irresponsible it was call it a Ponzi without proof, and about how they know his business model--in fact, his business model was obvious!

This is not passive investment (indeed, a passive investor who thought he had a legitimate model might appreciate "FUD" because it would help keep others out and keep their own "legitimate" rates up). No, this was shill behavior.  I am convinced that the only reason these people continue to defend Pirate "credulously" is they want to convince others they are innocent victims rather than shills.

[payb.tc]

The following points in relation to all of the PPT operators (and GLBSE operators too) shall be considered:
- have they managed a proxy for an opaque investment that has exhibited all the classical signs of a ponzi scheme?
- have they profited from prolongation and proliferation of a ponzi scheme?
- have they owed a duty of care and fiduciary duty to anyone who gave them money?
- have they provided adequate risk disclosures?
- have they implied at any time that pirate is not operating a ponzi scheme?
- have they implied at any time that they know some magical/secret biz model behind pirate operation?
- have they implied at any time that they know true identity of pirate?
- have they promoted investment into and lent credibity (or false credibility) to a ponzi scheme in any way?
- ought they to know better?

I personally have ALL PPT operators on my shit list permanently. Which means that I will do my best to avoid doing any business with those people myself and will encourage all my associates to avoid doing any business with those people and I will refuse to be a member of any organisation or association which also has any of those people as members.

But that's just me, your mileage may vary.

for what it worth:

You guys are so ridiculous sometimes.

I've dared to looked at a pirate, eye to eye, and I can say that I'm happy that I did.

Do not play "idiots" with us. Say that you have met that guy with moniker pirateat40 and are satisfied that he was present here and that that you are satisfied that he is indeed the same person who runs this ponzi and that as supposedly "respected community member with a good reputation" vouch for him etc... Or say that you have not.

For all we can see you are trying to post ironic/vague statements supporting proliferation of a ponzi scheme in hope that somehow you will not get a scammer tag and be ostracised by this community as every single fraudster involved into this either directly or indirectly should.

Do you think that by posting vague statements you will avoid consequences of being promoter of this fraud scheme? There is that list of all those shills and ponzi co-conspirators who are all so vocal in vague and supposedly "respected" and promote the poinzi tirelessly. You shills be ready for the shitstorm that will happen once YOUR ponzi implodes. You will be guilty in eyes of this community and in the eyes of law as much as the direct ponzi operator himself.

Nobody here is ridiculous but a bunch of fraudsters who promote this poinzi and even more so all the idiots who eat all the shit they spawn.

Lets make a list with who is on the payroll of pirate or has any personal interest in any of his operations:
- Chaang Noi (Goat) ช้างน้อย (runs PiratePassThrough Bond or is affiliated with one)
- BurtW (runs PiratePassThrough Bond or is affiliated with one)
- PatrickHarnett (runs PiratePassThrough Bond or is affiliated with one)
- dollartrader (runs PiratePassThrough Bond or is affiliated with one)
- hashking (runs PiratePassThrough Bond or is affiliated with one)
- imsaguy (runs PiratePassThrough Bond or is affiliated with one)
- ineededausername (runs PiratePassThrough Bond or is affiliated with one)
- bitfoo (runs PiratePassThrough Bond or is affiliated with one)
- pay.btc (runs PiratePassThrough Bond or is affiliated with one)
- gigavps (runs PiratePassThrough Bond or is affiliated with one)
- ...
who else??

Good start. It seems like automatic scammer tag list the moment the ponzi implodes as well as list of scammers for all the criminal reports that will be lodged eventually when this indeed blows over as many think it will.

Now a little exercise for all the readers. See the posting history of individuals mentioned above. See their mission  here for yourself.

Vladimir,

when did i ever:

- imply that pirate is not operating a ponzi scheme
- imply that i knew what the hell pirate was doing behind the scenes
- imply that i knew the true identity of pirate

please supply direct quotes for the above.

[P4man]

Goat you do your nickname dishonour.
reread what I wrote and then respond.