Its Official Pirate Has Defaulted!!

[556j]

September announcement: bitcoin client now taking .89% of all transactions for pirate relief fund.

litecoin here we come

Actually, go ahead and try that. Set up a few bitcoin mining nodes with the source code change you are suggesting (rejecting all transactions that don't contain a 0.89% transaction fee) and watch the rest of the Bitcoin network route right around you. More for the rest of us... LULZ.

PS, backed with 150 TH BFL ASIC

[DigitalHermit]

September announcement: bitcoin client now taking .89% of all transactions for pirate relief fund.

litecoin here we come

Actually, go ahead and try that. Set up a few bitcoin mining nodes with the source code change you are suggesting (rejecting all transactions that don't contain a 0.89% transaction fee) and watch the rest of the Bitcoin network route right around you. More for the rest of us... LULZ.

PS, backed with 150 TH BFL ASIC

Well if you are financing that much THash mining capacity you would be monopolizing all/most block rewards anyway. Still that might not be enough and you'd need the 0.89% fee or greater just to pay for it. Good luck with that wet dream! :-P

[dishwara]

We already got Bitcourt & Bitpolice.
Soon we need Bitgovernment to help Bitcoin

[fcmatt]

We already got Bitcourt & Bitpolice.
Soon we need Bitgovernment to help Bitcoin

I will gladly be the dictator of bitcoin for a small fee. Which I can reinvest for you so when you
retire I will pay out to you on a monthly basis. I will call it...

[DigitalHermit]

We already got Bitcourt & Bitpolice.
Soon we need Bitgovernment to help Bitcoin

I will gladly be the dictator of bitcoin for a small fee. Which I can reinvest for you so when you
retire I will pay out to you on a monthly basis. I will call it...

Social Security... the other other ponzi scheme. 

[Dalkore]

It's very interesting to what how all the so-called libertarians here usually shout the loudest about why bitcoin is so beautiful. It is not controlled by the big banks, by governments, it is total freedom, independent, etc etc.
But as soon as they get scammed due their own incredible stupidity, suddenly they talk about "official defaults", regulations to defaults, legal actions, etc. Face it. You joined a ponzi and lost a lot of money and there is NO regulation, law or government going to help you out. And that is how YOU wanted it YOURSELF, after all, that is what bitcoin is all about, right?

This whole debate about default, no default, and regulations is hypocrisy at its best. You gave your digital money to a digital guy and he digitally ran away with it. What the fuck else did you expect?

+1  - You always need some form of regulation or it becomes the breeding ground for all kinds of schemes and fraud.   

[Slushpuppy]

It's very interesting to what how all the so-called libertarians here usually shout the loudest about why bitcoin is so beautiful. It is not controlled by the big banks, by governments, it is total freedom, independent, etc etc.
But as soon as they get scammed due their own incredible stupidity, suddenly they talk about "official defaults", regulations to defaults, legal actions, etc. Face it. You joined a ponzi and lost a lot of money and there is NO regulation, law or government going to help you out. And that is how YOU wanted it YOURSELF, after all, that is what bitcoin is all about, right?

This whole debate about default, no default, and regulations is hypocrisy at its best. You gave your digital money to a digital guy and he digitally ran away with it. What the fuck else did you expect?

+1  - You always need some form of regulation or it becomes the breeding ground for all kinds of schemes and fraud.   

 
You can regulate without taxes.

[darkice]

pirate is demanding details of the account holders because he wont be able to pay all of it but partially, maybe sans interest or %70 I have no idea, abut he definitely doesn't want pass through operators to cherry pick account holders and pay them fully, then he will be responsible for unpaid pass through accounts, pony up the lists and help the man

it seems like he will pay but not fully, If you cant pass a list to him, it means two things , you are incredibly sloppy or you had your own small ponzi in your pass through and you don't want it to be revealed

I am not defending the man I have no interest etc in btcst it was unreal from day1, we are already doing a crazy thing by mining money out of f.ing thin air, %7 pw interest on that was a bit too much

 

[myrkul]

+1  - You always need some form of regulation or it becomes the breeding ground for all kinds of schemes and fraud.   

Self-regulation... the only kind that always works.

[Dalkore]

Goat, I apologize for being a douche to you..... I only NOW realize that you are getting fucked just like everyone else, or perhaps worse from the requests of Trendon.

Thanks, it really does suck getting fucked up the ass from someone you trusted...

..and assholes such as myself don't add to the 'discomfort' I am sure.

I HONESTLY thought his game was Realestate/Loans etc in the REAL world and I fell for it hook, line and sinker.

@Bitlane - Are you referring to "hard money" loans?

[bitlane]

@Bitlane - Are you referring to "hard money" loans?

At first, I thought he may have been selling large amounts of BTC @ a Premium ....OTC, as not to move the market.....and once the HARD CURRENCY was out of Bitcoin, he then used THAT to offer high interest loans etc......then buying back 'in' with his so-called 'profits'.

It made sense to me in my head, back when I was concerned about getting scammed.
I SHOULD have said it 'out loud' to help myself realize how retarded it actually sounded.

[justusranvier]

I SHOULD have said it 'out loud' to help myself realize how retarded it actually sounded.

You've discovered a technique for reducing decision-making errors so advanced that a lot of people with postgraduate degrees don't use it yet.

Apparently getting scammed online is like paying for college, except that it's cheaper and more educational.

[WikileaksDude]

I SHOULD have said it 'out loud' to help myself realize how retarded it actually sounded.

You've discovered a technique for reducing decision-making errors so advanced that a lot of people with postgraduate degrees don't use it yet.

Apparently getting scammed online is like paying for college, except that it's cheaper and more educational.

Wise words.

[conspirosphere.tk]

It is wonderful. All the idiots who gambled on this scheme get to eat their own losses intead of claiming "exigent circumstances" and "systemic risk" and forcing their losses on to me at gunpoint. I get to fully enjoy the benefit of choosing to not participate in a Ponzi scheme.

+1

+ Another

What losses? I entered several months ago in PPT.x's and Bitcoinmax, almost ever took interests home (and even capital with PPT-X), and now I have less of all interests gained up to now locked in Bitcoinmax. And that just because I was too lazy to withdraw my investment several weeks before the default, when all the alarm bells were ringing aloud everywhere and even I figured that it would be a good idea to withdraw like many others did in time, but I did not follow up. No losses anyway for whom entered the ponzi at the right time without exposing themselves too much and too late.

[myrkul]

It is wonderful. All the idiots who gambled on this scheme get to eat their own losses intead of claiming "exigent circumstances" and "systemic risk" and forcing their losses on to me at gunpoint. I get to fully enjoy the benefit of choosing to not participate in a Ponzi scheme.

+1

+ Another

What losses? I entered several months ago in PPT.x's and Bitcoinmax, almost ever took interests home (and even capital with PPT-X), and now I have less of all interests gained up to now locked in Bitcoinmax. And that just because I was too lazy to withdraw my investment several weeks before the default, when all the alarm bells were ringing aloud everywhere and even I figured that it would be a good idea to withdraw like many others did in time, but I did not follow up. No losses anyway for whom entered the ponzi at the right time without exposing themselves too much and too late.

And Bernie Madoff's first investors made a tidy profit, too. It was only that last round that really lost out. Perhaps the first quote should be modified to say "who gambled on this scheme and lost get to eat their own losses"

[556j]

And Bernie Madoff's first investors made a tidy profit, too. It was only that last round that really lost out. Perhaps the first quote should be modified to say "who gambled on this scheme and lost get to eat their own losses"

Didn't clawback pretty much nullify any gains from early investors?

[myrkul]

And Bernie Madoff's first investors made a tidy profit, too. It was only that last round that really lost out. Perhaps the first quote should be modified to say "who gambled on this scheme and lost get to eat their own losses"

Didn't clawback pretty much nullify any gains from early investors?

Another benefit of Bitcoin.

[mobodick]

+1  - You always need some form of regulation or it becomes the breeding ground for all kinds of schemes and fraud.   

Self-regulation... the only kind that always works.

yep, calling for regulation is like saying "i have no idea what i am doing"

Seing how obvious this deal was and seing that one can pull off much more subtle tricks i'd say that the bitcoin world is not ready for self-regulation.

[miscreanity]

Seing how obvious this deal was and seing that one can pull off much more subtle tricks i'd say that the bitcoin world is not ready for self-regulation.

It's called growing pains, and the community will be the better for it just like exchange security improved after a bout of drama. Running away from hard knocks is no answer; they must be faced and learned from to make progress. The appropriate term would be: man up.

[conspirosphere.tk]

The appropriate term would be: man up.

...or never "invest" in a ponzi or anywhere more than you can afford to lose, like in the meatspace. Quite easy.