Its Official Pirate Has Defaulted!!

[c0in$]

Think Pirate is a scam and won't repay his debts?

I have another $500 I am willing to offer in this wager.

Given that the going market rate for pirate debt is 12%  https://bitcointalk.org/index.php?topic=104052.0 I will only be accepting offers of 1:4 odds or better for the next bet slot.  Thus I would be willing to wager this next $500 against $2,000 or better.   Contact me with an offer if interested.  I will take the best offer that I receive.

All bets will be escrowed here through Garr 255 https://bitcointalk.org/index.php?topic=104494.0  He has kindly offered to escrow my bets.

Bet terms are indexed in Garr's thread.

[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.

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

Seeing 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.

The people who got scammed were (and possibly still are) not ready. I (and many others) took one look at "black box, 1% daily" and said, "no, that smells fishy," and stayed out. Some of us even tried to warn the others. caveat investor.

[miscreanity]

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

We're all ignorant and naive at some point. For anyone who invests and loses (especially by going all in), it's a growing/learning experience. Same as an infant figuring out his arm is attached to himself.

Of course, I'm sure there are some who make a tidy sum by regularly investing in high risk schemes early on. It's a highly specialized void that can be filled. Unless we all become aware of the same things everyone else knows all the time (hive mind style), there will be scams.

[mobodick]

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.

That is because not many peoples livelihoods are involved.

[the_thing]

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.

It is not that simple. Pirate's default affects all of us, even those who didn't fall for his scam. Should he finally shut down his operation with literally zero hope of a refund, the market will crash rapidly. So after all, we all get to pay for what happened.

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.

Don't you understand? This is exactly the way it is supposed to be. Free market not only gives freedom to individuals; it also liberates the society from weak members. We all have much to learn. We must be responsible, cautious, wise... Some of us already are, others are learning it the hard way. Some will be eliminated by their own stupidity. Only worthy will survive. Of course this pirate event saddens me, because we all suffer from it. But once the market is estabilished, people will be changed. Healthy community will grow and if bitcoin becomes more ..global, whole world will benefit from this change.

[beekeeper]

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

agree 100%

[myrkul]

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.

Don't you understand? This is exactly the way it is supposed to be. Free market not only gives freedom to individuals; it also liberates the society from weak members.

Market darwinism. Agree 100%, working as intended.

[justusranvier]

It is not that simple. Pirate's default affects all of us, even those who didn't fall for his scam. Should he finally shut down his operation with literally zero hope of a refund, the market will crash rapidly. So after all, we all get to pay for what happened.

Speculators are not the only people using Bitcoin, nor are they the most important. As long as there's sufficient liquidity in the market for BitPay, etc. to operate businesses can use bitcoin as a payment network without being affected at all by the exchange rate. Those who are using Bitcoin for commerce don't need to worry about the market.

[Hunterbunter]

Don't you understand? This is exactly the way it is supposed to be. Free market not only gives freedom to individuals; it also liberates the society from weak members. We all have much to learn. We must be responsible, cautious, wise... Some of us already are, others are learning it the hard way.

So like...a team of champions but not a champion team?

Weak is by definition of task.

[SysRun]

http://www.youtube.com/watch?v=ZQGTaS0IFOs

Oohhhh, that's what that means...

I love some of the lyrics

http://www.lyricsfreak.com/j/jimmy+buffett/a+pirate+looks+at+40_20298106.html

like

     "Made enough money to buy Miami but I pissed it away so fast"

[myrkul]

Don't you understand? This is exactly the way it is supposed to be. Free market not only gives freedom to individuals; it also liberates the society from weak members. We all have much to learn. We must be responsible, cautious, wise... Some of us already are, others are learning it the hard way.

So like...a team of champions but not a champion team?

Weak is by definition of task.

You don't get it, do you? I'm not on your team. Nobody is. Only you are on your "team". Only I am on mine. Self-regulation = self interest+self control.

[Hunterbunter]

Don't you understand? This is exactly the way it is supposed to be. Free market not only gives freedom to individuals; it also liberates the society from weak members. We all have much to learn. We must be responsible, cautious, wise... Some of us already are, others are learning it the hard way.

So like...a team of champions but not a champion team?

Weak is by definition of task.

You don't get it, do you? I'm not on your team. Nobody is. Only you are on your "team". Only I am on mine. Self-regulation = self interest+self control.

No I get it, you're on the other team. You're going to, singly, out-perform the combined specialization of millions of people who are on the same team.

[myrkul]

Don't you understand? This is exactly the way it is supposed to be. Free market not only gives freedom to individuals; it also liberates the society from weak members. We all have much to learn. We must be responsible, cautious, wise... Some of us already are, others are learning it the hard way.

So like...a team of champions but not a champion team?

Weak is by definition of task.

You don't get it, do you? I'm not on your team. Nobody is. Only you are on your "team". Only I am on mine. Self-regulation = self interest+self control.

No I get it, you're on the other team. You're going to, singly, out-perform the combined specialization of millions of people who are on the same team.

The economy is not a team sport.

[Hunterbunter]

Don't you understand? This is exactly the way it is supposed to be. Free market not only gives freedom to individuals; it also liberates the society from weak members. We all have much to learn. We must be responsible, cautious, wise... Some of us already are, others are learning it the hard way.

So like...a team of champions but not a champion team?

Weak is by definition of task.

You don't get it, do you? I'm not on your team. Nobody is. Only you are on your "team". Only I am on mine. Self-regulation = self interest+self control.

No I get it, you're on the other team. You're going to, singly, out-perform the combined specialization of millions of people who are on the same team.

The economy is not a team sport.

I didn't say it was, but it seems that some teams exist nonetheless.

[myrkul]

Don't you understand? This is exactly the way it is supposed to be. Free market not only gives freedom to individuals; it also liberates the society from weak members. We all have much to learn. We must be responsible, cautious, wise... Some of us already are, others are learning it the hard way.

So like...a team of champions but not a champion team?

Weak is by definition of task.

You don't get it, do you? I'm not on your team. Nobody is. Only you are on your "team". Only I am on mine. Self-regulation = self interest+self control.

No I get it, you're on the other team. You're going to, singly, out-perform the combined specialization of millions of people who are on the same team.

The economy is not a team sport.

I didn't say it was, but it seems that some teams exist nonetheless.

The_thing: "free market eliminates weak members"
You: "Team of champions, but not a champion team"
Me: "Economy is not a team sport"
You: "I never said it was"
Everyone (together):"Wut?"

Come on, man, at least don't quote the statement you're contradicting. 

[mobodick]

Don't you understand? This is exactly the way it is supposed to be. Free market not only gives freedom to individuals; it also liberates the society from weak members. We all have much to learn. We must be responsible, cautious, wise... Some of us already are, others are learning it the hard way.

So like...a team of champions but not a champion team?

Weak is by definition of task.

You don't get it, do you? I'm not on your team. Nobody is. Only you are on your "team". Only I am on mine. Self-regulation = self interest+self control.

If that was true you would propably not have food to eat.
Also no internet.

[Hunterbunter]

Don't you understand? This is exactly the way it is supposed to be. Free market not only gives freedom to individuals; it also liberates the society from weak members. We all have much to learn. We must be responsible, cautious, wise... Some of us already are, others are learning it the hard way.

So like...a team of champions but not a champion team?

Weak is by definition of task.

You don't get it, do you? I'm not on your team. Nobody is. Only you are on your "team". Only I am on mine. Self-regulation = self interest+self control.

No I get it, you're on the other team. You're going to, singly, out-perform the combined specialization of millions of people who are on the same team.

The economy is not a team sport.

I didn't say it was, but it seems that some teams exist nonetheless.

The_thing: "free market eliminates weak members"
You: "Team of champions, but not a champion team"
Me: "Economy is not a team sport"
You: "I never said it was"
Everyone (together):"Wut?"

Come on, man, at least don't quote the statement you're contradicting.  

So, are you a cave troll or regular forest troll when you're not being an internet troll? Or do you just do this full time?

[Littleshop]

It is not that simple. Pirate's default affects all of us, even those who didn't fall for his scam. Should he finally shut down his operation with literally zero hope of a refund, the market will crash rapidly. So after all, we all get to pay for what happened.

This has already happened and no market set off.   There are no coins to sell off.  While I doubt there will be repayment, if there was Pirate would have to purchase coins driving the price up.

[myrkul]

Don't you understand? This is exactly the way it is supposed to be. Free market not only gives freedom to individuals; it also liberates the society from weak members. We all have much to learn. We must be responsible, cautious, wise... Some of us already are, others are learning it the hard way.

So like...a team of champions but not a champion team?

Weak is by definition of task.

You don't get it, do you? I'm not on your team. Nobody is. Only you are on your "team". Only I am on mine. Self-regulation = self interest+self control.

If that was true you would propably not have food to eat.
Also no internet.

As it happens, one of the best ways for long-term profit on the market is to provide goods and services to others. They need these things (like food and internet), and if you can provide them, you can turn a pretty penny. You're still looking out for yourself, but you're doing it by helping others.

So, are you a cave troll or regular forest troll when you're not being an internet troll?

When all else fails, resort to ad hominem, eh?

[cablepair]

I followed that texas corporation link.

One of the 3 owners of gpumax being Michael Thalasinos, whom is also involved in another corp. titled J Q Greetings LLC.

JQ Greetings = some texas greeting cards store located:

545 N Cowan Avenue # J
Lewisville, TX    75057-3198

somebody needs to show up and start asking questions about one of his business associates.

Added: http://jqgreetings.com

If you show up there and this Michael dood is somebody completely different like a 88 year old guy, then we have to add fraud to the list of complaints against GPUMAX and friends.

the other is this guy;
http://labs.mirror.me/googleplus/117414643911834461861


Speaking of fraud...  Is anyone else curious if the "some company name I've never heard of" was on that bad check written to Lowes, is actually going to be that of a little known company called 'Intellipants'?

no clue either, but the clerk was happy to send copies.. still waiting on them though..

Brother: Rylan Shavers: http://labs.mirror.me/googleplus/102130329224092004752

Which links to this guy: http://www.linkedin.com/in/znakaska

(behind, so sorry if already posted)

~Bruno~

thanks bruno

did you see mug shot lookin pic of this pedo on his friend list ?



wow