Bitcoin Forum
October 23, 2017, 05:41:52 PM *
News: Latest stable version of Bitcoin Core: 0.15.0.1  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Poll
Question: How would you rate Bitcoin Savings & Trust?
5 - Excellent
4 - Very Good
3 - Good
2 - Fair
1 - Poor
No comment just show me the results.

Warning: Moderators do not remove likely scams. You must use your own brain: caveat emptor. Watch out for Ponzi schemes. Do not invest more than you can afford to lose.

Pages: « 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 [51] 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 »
  Print  
Author Topic: Bitcoin Savings and Trust | Home | Closed  (Read 796628 times)
eleuthria
Legendary
*
Offline Offline

Activity: 1750



View Profile
June 21, 2012, 06:06:19 PM
 #1001

I can say the one bit that showed me this is legit is that pirate will kick funds out when he has too much.  I just can't think of a scenario where you would do that unless this was going to be a MASSIVE ponzi scheme where his end goal was in the millions.  And from what I've seen, that just doesn't seem likely.

Although I am a bit sad that I got my BTCST account and less than 2 days later all my coins got kicked out from an earlier member depositing Sad.
1508780512
Hero Member
*
Offline Offline

Posts: 1508780512

View Profile Personal Message (Offline)

Ignore
1508780512
Reply with quote  #2

1508780512
Report to moderator
1508780512
Hero Member
*
Offline Offline

Posts: 1508780512

View Profile Personal Message (Offline)

Ignore
1508780512
Reply with quote  #2

1508780512
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1508780512
Hero Member
*
Offline Offline

Posts: 1508780512

View Profile Personal Message (Offline)

Ignore
1508780512
Reply with quote  #2

1508780512
Report to moderator
1508780512
Hero Member
*
Offline Offline

Posts: 1508780512

View Profile Personal Message (Offline)

Ignore
1508780512
Reply with quote  #2

1508780512
Report to moderator
1508780512
Hero Member
*
Offline Offline

Posts: 1508780512

View Profile Personal Message (Offline)

Ignore
1508780512
Reply with quote  #2

1508780512
Report to moderator
wachtwoord
Legendary
*
Offline Offline

Activity: 1624


View Profile
June 21, 2012, 07:30:52 PM
 #1002

I can say the one bit that showed me this is legit is that pirate will kick funds out when he has too much.  I just can't think of a scenario where you would do that unless this was going to be a MASSIVE ponzi scheme where his end goal was in the millions.  And from what I've seen, that just doesn't seem likely.

Although I am a bit sad that I got my BTCST account and less than 2 days later all my coins got kicked out from an earlier member depositing Sad.

^^ Thanks for reporting this.

Tomatocage
Legendary
*
Offline Offline

Activity: 1526

brb keeping up with the Kardashians


View Profile
June 21, 2012, 10:15:31 PM
 #1003

Deets on the Trust Accounts coming next month?

THIS SPOT FOR RENT* | GPG ID: 4880D85C | 1% Escrow | 8% IPO/ICO Escrow services Temporarily Closed | Bitcointalk is the ONLY place where I use this name (No Skype/IRC/YIM/AIM/etc) | 13CsmTqGNwvFXb7tD9yFvJcEYCDTB8wQTS | Beware of these SCAM sites! | *Sponsored Link
Otoh
Donator
Legendary
*
Offline Offline

Activity: 2212



View Profile
June 21, 2012, 11:14:03 PM
 #1004

I can say the one bit that showed me this is legit is that pirate will kick funds out when he has too much.  I just can't think of a scenario where you would do that unless this was going to be a MASSIVE ponzi scheme where his end goal was in the millions.  And from what I've seen, that just doesn't seem likely.

Although I am a bit sad that I got my BTCST account and less than 2 days later all my coins got kicked out from an earlier member depositing Sad.

^^ Thanks for reporting this.

I'm a great pirate fan, but this doesn't really mean anything, please give the dates & amounts, also anyone would do a few of these as sock puppets if it were a pp, or just to build cred by kicking a few hero members out.

Disclaimer: I'm 100% pro pirate & max funded on BST.

Node40.com is a leader in DASH hosting, dedicated exclusively to fully managed masternode hosting. Professional, organized and responsive. I've dozens of nodes with them.    
BTC = $c²     BTC = 1otohotohMoQoxHuxLBveQiZcV3Pji3Tc     DASH, Digital Cash = www.dash.org   
CHARITY | MY REP
wachtwoord
Legendary
*
Offline Offline

Activity: 1624


View Profile
June 21, 2012, 11:15:24 PM
 #1005

Well, this is the first report I have seen at all. Sure, very little will 'prove' anything.

mcorlett
Donator
Sr. Member
*
Offline Offline

Activity: 308



View Profile
June 21, 2012, 11:18:24 PM
 #1006

Disclaimer: I'm 100% pro pirate & max funded on BST.
Is this a thing now?!

cantor
Jr. Member
*
Offline Offline

Activity: 31



View Profile
June 22, 2012, 01:13:14 AM
 #1007

so now does pirate's business model include buying bitcoins constantly? haven't found any answer yet around here... beginning at the lows last winter, did he perhaps even rescue Bitcoin singlefootedly?  Shocked
I pretty sure that the last thing the pirate does is buying bitcoins Smiley

He obviously lends them out to some other people at higher interests, without being nosy on where they get the bitcoins from.
Ot it's a ponzi...
Either of the two - feel free to choose your believes, I'm still not quite sure about mine Smiley


Isn't it clear what he does? He's said as much on other threads. People lend him bitcoins that he then sells for hard currency locally at a (significant) markup. Whoever buys those coins more than likely sends them to a third party, who converts them back to fiat (possibly another fiat).

Pirate moves his currency back into bitcoins. More than likely Pirate is never in fiat more than a day or two, leaving him minimally exposed to bitcoin / fiat pair volatility risk.

Pirate's customer has a steady need to send currency through bitcoins on a regular basis, for payment for some ongoing good or service. These customers are paying a significant premium for this service, likely 10% or more. That's why Pirate can afford to pay 7 points per week. As long as pirate's customers' business grows (or they move more bitcoins through him) he can afford to keep paying 7% indefinitely. It is likely that at some point he may have to close to new deposits (as he has done in the past).

Bitcoin is a easy way to move large amounts of currency without the use of banks or walking large amounts of cash through airports. Hell, it's better than diamonds or art. Sure is more liquid.

He's doing exactly what he says he does, arbitrage with a very short term loan (The loan is as fast as he can turn hard currency to bitcoin).

(If I've stepped a little too close to home, please let me know and I'll edit / delete my post.)
Regarding waltmarkers' theory on the nature of pirate's business...  Why would his clients pay such a high premium for this service?  Why wouldn't they e.g. directly buy bitcoins from mtgox?  I'm kinda new to this, and theories regarding pirate's operation are in my opinion nice case studies on how the bitcoin ecosystem works.  Any shedding of light on this question would be appreciated, also I hope I'm not hijacking this thread much (just a little Tongue).
mb300sd
Legendary
*
Offline Offline

Activity: 1260

Drunk Posts


View Profile WWW
June 22, 2012, 02:19:40 AM
 #1008

I can say the one bit that showed me this is legit is that pirate will kick funds out when he has too much.  I just can't think of a scenario where you would do that unless this was going to be a MASSIVE ponzi scheme where his end goal was in the millions.  And from what I've seen, that just doesn't seem likely.

Although I am a bit sad that I got my BTCST account and less than 2 days later all my coins got kicked out from an earlier member depositing Sad.

^^ Thanks for reporting this.

I'm a great pirate fan, but this doesn't really mean anything, please give the dates & amounts, also anyone would do a few of these as sock puppets if it were a pp, or just to build cred by kicking a few hero members out.

Disclaimer: I'm 100% pro pirate & max funded on BST.

eleuthria runs btc guild. I'm pretty sure hes not a sick puppet.

1D7FJWRzeKa4SLmTznd3JpeNU13L1ErEco
Gladamas
Sr. Member
****
Offline Offline

Activity: 294


Bitcoin today is what the internet was in 1998.


View Profile
June 22, 2012, 02:39:54 AM
 #1009

so now does pirate's business model include buying bitcoins constantly? haven't found any answer yet around here... beginning at the lows last winter, did he perhaps even rescue Bitcoin singlefootedly?  Shocked
I pretty sure that the last thing the pirate does is buying bitcoins Smiley

He obviously lends them out to some other people at higher interests, without being nosy on where they get the bitcoins from.
Ot it's a ponzi...
Either of the two - feel free to choose your believes, I'm still not quite sure about mine Smiley


Isn't it clear what he does? He's said as much on other threads. People lend him bitcoins that he then sells for hard currency locally at a (significant) markup. Whoever buys those coins more than likely sends them to a third party, who converts them back to fiat (possibly another fiat).

Pirate moves his currency back into bitcoins. More than likely Pirate is never in fiat more than a day or two, leaving him minimally exposed to bitcoin / fiat pair volatility risk.

Pirate's customer has a steady need to send currency through bitcoins on a regular basis, for payment for some ongoing good or service. These customers are paying a significant premium for this service, likely 10% or more. That's why Pirate can afford to pay 7 points per week. As long as pirate's customers' business grows (or they move more bitcoins through him) he can afford to keep paying 7% indefinitely. It is likely that at some point he may have to close to new deposits (as he has done in the past).

Bitcoin is a easy way to move large amounts of currency without the use of banks or walking large amounts of cash through airports. Hell, it's better than diamonds or art. Sure is more liquid.

He's doing exactly what he says he does, arbitrage with a very short term loan (The loan is as fast as he can turn hard currency to bitcoin).

(If I've stepped a little too close to home, please let me know and I'll edit / delete my post.)
Regarding waltmarkers' theory on the nature of pirate's business...  Why would his clients pay such a high premium for this service?  Why wouldn't they e.g. directly buy bitcoins from mtgox?  I'm kinda new to this, and theories regarding pirate's operation are in my opinion nice case studies on how the bitcoin ecosystem works.

Perhaps Pirate's clients do not want to be identified (for AML), so they pay Pirate a premium to exchange for them. Plus I imagine Pirate does all the work of exchanging the $ for Bitcoins and then sending the coins wherever the clients want.

1GLADMZ5tL4HkS6BAWPfJLeZJCDHAd9Fr3 - LQ6Zx8v7fHVBiDX5Lmhbp6oEDB7dUFjANu
GPG 0xF219D5BB3C467E12 - Litecoin Forum
imsaguy
General failure and former
VIP
Hero Member
*
Offline Offline

Activity: 574

Don't send me a pm unless you gpg encrypt it.


View Profile WWW
June 22, 2012, 05:27:39 AM
 #1010

Didn't you ever notice that "I control your machine," is an anagram of "GPUMax rocks" in Akkadian?  And of course we all know that the Cajuns are the Akkadians who came to America when the Sea Peoples left the Mediterranean after the collapse of Atlantis.

Didn't you ever notice that "El cat knows things: rum, poxrot" is an anagram of "GPUMax controls this network". And in English, too.



If you're going to bite off my awesome, at least step it up a notch.  Your point-missing skills aren't just limited to sports.

These threads are inevitable annoyances.  I'm arrogating to myself the authorship of "Pirate's Law": As an online discussion regarding pirateat40, btcst, GPUMax, or projects to be referred to as M, P, and X grows longer, the probability of speculation and accusation of unethical or criminal activity approaches is 1.

FTFY

I stand corrected, what, three whole cycles in this thread alone?

At least.

Coming Soon!™ © imsaguy 2011-2013, All rights reserved.

EIEIO:
https://bitcointalk.org/index.php?topic=60117.0

Shades Minoco Collection Thread: https://bitcointalk.org/index.php?topic=65989
Payment Address: http://btc.to/5r6
organofcorti
Donator
Legendary
*
Offline Offline

Activity: 2044


Poor impulse control.


View Profile WWW
June 22, 2012, 06:34:50 AM
 #1011

Didn't you ever notice that "I control your machine," is an anagram of "GPUMax rocks" in Akkadian?  And of course we all know that the Cajuns are the Akkadians who came to America when the Sea Peoples left the Mediterranean after the collapse of Atlantis.

Didn't you ever notice that "El cat knows things: rum, poxrot" is an anagram of "GPUMax controls this network". And in English, too.



If you're going to bite off my awesome, at least step it up a notch.  Your point-missing skills aren't just limited to sports.

These threads are inevitable annoyances.  I'm arrogating to myself the authorship of "Pirate's Law": As an online discussion regarding pirateat40, btcst, GPUMax, or projects to be referred to as M, P, and X grows longer, the probability of speculation and accusation of unethical or criminal activity approaches is 1.

FTFY

I stand corrected, what, three whole cycles in this thread alone?

At least.

Cool. If each post has a 1/356 chance of changing the tide of opinion, then the chart below shows the cumulative probability of a reversal of opinion occurring.

If hope it's handy. You should be able to estimate the probability of a given post to change peoples minds using this chart. The earlier you post in a cycle the more likely it is that post will be the cycle changer.

Consider it an apology for not liking your anagram better, or missing your point, or not stepping it up enough notches previously.

                           

Bitcoin network and pool analysis 12QxPHEuxDrs7mCyGSx1iVSozTwtquDB3r
follow @oocBlog for new post notifications
Gladamas
Sr. Member
****
Offline Offline

Activity: 294


Bitcoin today is what the internet was in 1998.


View Profile
June 23, 2012, 03:30:21 AM
 #1012

[ConspiracyTheory]

1. Pirate is from Dallas.
2. George W. Bush (Jr.) is from Dallas.
3. Therefore, Pirate is George W. Bush!

[/ConspiracyTheory]

1GLADMZ5tL4HkS6BAWPfJLeZJCDHAd9Fr3 - LQ6Zx8v7fHVBiDX5Lmhbp6oEDB7dUFjANu
GPG 0xF219D5BB3C467E12 - Litecoin Forum
payb.tc
Hero Member
*****
Offline Offline

Activity: 812



View Profile
June 23, 2012, 03:38:11 AM
 #1013

[ConspiracyTheory]

1. Pirate is from Dallas.
2. George W. Bush (Jr.) is from Dallas.
3. Therefore, Pirate is George W. Bush!

[/ConspiracyTheory]

this must be true, because i've never seen them in the same room together.
Gladamas
Sr. Member
****
Offline Offline

Activity: 294


Bitcoin today is what the internet was in 1998.


View Profile
June 23, 2012, 03:46:29 AM
 #1014

[ConspiracyTheory]

1. Pirate is from Dallas.
2. George W. Bush (Jr.) is from Dallas.
3. Therefore, Pirate is George W. Bush!

[/ConspiracyTheory]

this must be true, because i've never seen them in the same room together.


In fact, Pirate (George W. Bush) is using his political connections to create capitol, and is suckering us into this campaign. He has his own SuperPAC ready to destroy Bitcoin, and is just deceiving us to gain our trust!

1GLADMZ5tL4HkS6BAWPfJLeZJCDHAd9Fr3 - LQ6Zx8v7fHVBiDX5Lmhbp6oEDB7dUFjANu
GPG 0xF219D5BB3C467E12 - Litecoin Forum
GeoRW
Sr. Member
****
Offline Offline

Activity: 329


Trust No One


View Profile
June 23, 2012, 04:01:57 AM
 #1015

[ConspiracyTheory]

1. Pirate is from Dallas.
2. George W. Bush (Jr.) is from Dallas.
3. Therefore, Pirate is George W. Bush!

[/ConspiracyTheory]

So, are we actually financing war in Afghanistan?  Oh man, I think I'm going out  Roll Eyes
payb.tc
Hero Member
*****
Offline Offline

Activity: 812



View Profile
June 23, 2012, 08:31:24 AM
 #1016

Now where's me a good PPT??

what's a 'PPT'?
aq
Full Member
***
Offline Offline

Activity: 238


View Profile
June 23, 2012, 09:09:08 AM
 #1017

Now where's me a good PPT??

what's a 'PPT'?

pirate pass through - you operate one of the best Wink
wachtwoord
Legendary
*
Offline Offline

Activity: 1624


View Profile
June 23, 2012, 11:23:44 AM
 #1018

Bitcoin's success is uncertain, but we can know with certainty that a digital currency with peer to peer characteristics, so far flawlessly exhibited by bitcoin, will succeed over the present system.

This sentence needs to be repeated because I agree completely

[ConspiracyTheory]

1. Pirate is from Dallas.
2. George W. Bush (Jr.) is from Dallas.
3. Therefore, Pirate is George W. Bush!

[/ConspiracyTheory]

Impossible. Pirate's spelling and grammar is way too good to be Bush.

Electricbees
Sr. Member
****
Offline Offline

Activity: 322


We are bees, and we hate you.


View Profile
June 23, 2012, 11:45:57 AM
 #1019

pirate pass through - you operate one of the best Wink
Amen to that!

Donations are welcome!
1BEES19ds5gEnRBoU1qNFPfjRXe94trMG3
BurtW
Legendary
*
Offline Offline

Activity: 2058

All paid signature campaigns should be banned.


View Profile WWW
June 23, 2012, 11:47:51 AM
 #1020

Now where's me a good PPT??

what's a 'PPT'?

I see what you did there.

Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
Pages: « 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 [51] 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!