Bitcoin Forum
December 08, 2016, 04:17:01 AM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   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 ... 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 774269 times)
hazek
Legendary
*
Offline Offline

Activity: 1078


View Profile
July 03, 2012, 03:01:12 PM
 #1201

But consider for a moment the (possibly very small) possibility that he really has found an excellent way to make money.

Actually no, I will not consider that, like at all. ^ this does not exist on this planet. There is no "secret" way of making money with no risk, there is either legit based on sound fundamentals money making or there are frauds and scams. Every time someone discovers a new way to make money with such a high return it's almost always because they are the first to enter the market providing an actual good or service or they just discovered a significant technological advancement giving them a huge edge over the rest of the market, neither state of the market can last for a long period of time because competition soon follows and diminishes your slice of the market pie.

As for finances, finances are nothing but skimming off the top by providing less friction to the flow of money, if there's any place where unusual high returns aren't possible, it's finances, at least not without significant risk.

What pirate claims to be able to do is therefor quit likely impossible in the short term and absolutely impossible in the long term. The only possible explanation that I would consider is if he is involved in something governments made rules about forbidding it, something like the drug trade or weapons trafficking, ect.. all possibilities of which likewise carry significant risks.


So yeah.

Anyway, I'll be perfectly happy if he doesn't go bust and if all of you make a lot of money or if he does go bust and all of you "investors" just chalk up your loses to the risk you knew you were taking going in. I'm just afraid many will cry and scream and get hurt because they were under the false impression of just how risky their "investments" really were.

My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)

If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
Vandroiy
Legendary
*
Offline Offline

Activity: 1036


View Profile
July 03, 2012, 03:02:22 PM
 #1202

Tell me this, then: what could anyone possibly do to prove that BS&T is not a Ponzi scheme? Describe a few more details of his business? Open up his books? Those can all be falsified.

This is simple. He just has to keep going without exponential growth of new deposits for a while.

A Ponzi only works with the influx of new people. Let it cool off, have a few people withdraw, see whether the money suddenly vanishes. If there's actually much less money in BS&T than claimed, it should not survive contraction. Growth of user base must be significantly lower than yield for a while, and some fraction of the investors should withdraw and not re-invest all the time.

The strange thing is that this hasn't happened on its own. BS&T looks like it has unlimited potential for abnormally fast growth, and that is suspicious in itself.
hazek
Legendary
*
Offline Offline

Activity: 1078


View Profile
July 03, 2012, 03:04:08 PM
 #1203

Is it still possible to bet on pirate going bust?

My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)

If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
exahash
Sr. Member
****
Offline Offline

Activity: 276



View Profile
July 03, 2012, 03:07:33 PM
 #1204

It's not irrational to speculate on high-risk ventures. If you think the risk of him running off with your money is higher than the potential rewards, avoid it; we think the rewards are higher than the risk, so we put money in, and it really is that simple.

^ this.

Well put copumpkin.
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
July 03, 2012, 03:08:50 PM
 #1205

But consider for a moment the (possibly very small) possibility that he really has found an excellent way to make money.

Actually no, I will not consider that, like at all. ^ this does not exist on this planet. There is no "secret" way of making money with no risk, there is either legit based on sound fundamentals money making or there are frauds and scams. Every time someone discovers a new way to make money with such a high return it's almost always because they are the first to enter the market providing an actual good or service or they just discovered a significant technological advancement giving them a huge edge over the rest of the market, neither state of the market can last for a long period of time because competition soon follows and diminishes your slice of the market pie.

Please quote for me where he states he will continue this forever.  Its you lovely people that keep making this estimations about what will happen "if things keep going the way they are". 

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
mollison
Full Member
***
Offline Offline

Activity: 157



View Profile
July 03, 2012, 03:09:39 PM
 #1206

Every time someone discovers a new way to make money with such a high return it's almost always because they are the first to enter the market providing an actual good or service or they just discovered a significant technological advancement giving them a huge edge over the rest of the market, neither state of the market can last for a long period of time because competition soon follows and diminishes your slice of the market pie.

Um, yeah, it's called bitcoin, have you heard of it?  Grin

And he has stated that he doesn't want to reveal exactly what he's doing because then other people will do it, driving down his profit. Which also fits with your theory as quoted above.
hazek
Legendary
*
Offline Offline

Activity: 1078


View Profile
July 03, 2012, 03:20:35 PM
 #1207

Every time someone discovers a new way to make money with such a high return it's almost always because they are the first to enter the market providing an actual good or service or they just discovered a significant technological advancement giving them a huge edge over the rest of the market, neither state of the market can last for a long period of time because competition soon follows and diminishes your slice of the market pie.

Um, yeah, it's called bitcoin, have you heard of it?  Grin

And he has stated that he doesn't want to reveal exactly what he's doing because then other people will do it, driving down his profit. Which also fits with your theory as quoted above.

Really? Somehow pirate can do what no other Bitcoin business can do, and he can do this in secret without anyone else catching on?? Bitcoin is just a new money + a new financial service, how does that differ from what returns are possible with conventional money and conventional financial services? It doesn't.

If you aren't interested in simply trolling me and if you actually want to listen to my arguments why you should be very skeptical of getting involved please read my entire post and don't take things out of context.

My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)

If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
hazek
Legendary
*
Offline Offline

Activity: 1078


View Profile
July 03, 2012, 03:23:28 PM
 #1208

But consider for a moment the (possibly very small) possibility that he really has found an excellent way to make money.

Actually no, I will not consider that, like at all. ^ this does not exist on this planet. There is no "secret" way of making money with no risk, there is either legit based on sound fundamentals money making or there are frauds and scams. Every time someone discovers a new way to make money with such a high return it's almost always because they are the first to enter the market providing an actual good or service or they just discovered a significant technological advancement giving them a huge edge over the rest of the market, neither state of the market can last for a long period of time because competition soon follows and diminishes your slice of the market pie.

Please quote for me where he states he will continue this forever.  Its you lovely people that keep making this estimations about what will happen "if things keep going the way they are".  

Please quote me where he stated when he intends to stop. You see, two can play this game.

My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)

If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
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
July 03, 2012, 03:35:52 PM
 #1209

But consider for a moment the (possibly very small) possibility that he really has found an excellent way to make money.

Actually no, I will not consider that, like at all. ^ this does not exist on this planet. There is no "secret" way of making money with no risk, there is either legit based on sound fundamentals money making or there are frauds and scams. Every time someone discovers a new way to make money with such a high return it's almost always because they are the first to enter the market providing an actual good or service or they just discovered a significant technological advancement giving them a huge edge over the rest of the market, neither state of the market can last for a long period of time because competition soon follows and diminishes your slice of the market pie.

Please quote for me where he states he will continue this forever.  Its you lovely people that keep making this estimations about what will happen "if things keep going the way they are".  

Please quote me where he stated when he intends to stop. You see, two can play this game.

I'm not the one making projections of "if this continues forever"  He's already reduced his rates twice.  Whats to say he won't reduce them further?  In fact, if he does reduce them, you'll bitch about "the end is near!"  At this point, people are going to bitch regardless of what he does.

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
BurtW
Legendary
*
Online Online

Activity: 1792

All paid signature campaigns should be banned.


View Profile WWW
July 03, 2012, 03:47:40 PM
 #1210

I have figured it out!  I know how he does it!  Pirate has somehow figured out a way to make BTC every time someone types the word "ponzi".  Here, let me make some more BTC for myself and everyone who has money on deposit.  Sorry, all you here in this thread that don't have BTC on deposit won't get any:

ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi,

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!
ineededausername
Hero Member
*****
Offline Offline

Activity: 784


bitcoin hundred-aire


View Profile
July 03, 2012, 03:48:35 PM
 #1211

I have figured it out!  I know how he does it!  Pirate has somehow figured out a way to make BTC every time someone types the word "ponzi".  Here, let me make some more BTC for myself and everyone who has money on deposit.  Sorry, all you here in this thread that don't have BTC on deposit won't get any:

ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi,

wow!  I got a payment! ponzi ponzi ponzi

(BFL)^2 < 0
hazek
Legendary
*
Offline Offline

Activity: 1078


View Profile
July 03, 2012, 03:49:20 PM
 #1212

Baby Jesus is crying.  Can you fucktards take this to one of the "is pirate a ponzi?" threads?

No one is going to convince anyone else.  Pirate has abandoned this thread because it's information-free.  With increasing frequency, some n00b shows up with the same polemic and vitriol (always the vitriol) about Ponzi.  If they'd bother to scan the thread, they would discover that this horse has been beaten so badly that it's horse...jelly.

(see what I did there?)

Since I think it's a ponzi scheme and I'd like it to go bust ASAP in order to save people from unnecessarily losing their money, wouldn't you say it would make sense for me and people who share my views to beat this horse in perpetuity to prevent any latecomers to miss out on the warnings especially because ponzi schemes can't survive without a constant stream of new suckers?

You aren't making any sense.

My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)

If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
bulanula
Hero Member
*****
Offline Offline

Activity: 518



View Profile
July 03, 2012, 03:49:57 PM
 #1213

Exactly.

Anyone talking about Ponzi in this thread should just STFU and GTFO ( just like psy said ) !

Can we make it so "ponzi" is automatically censored to "*****" like "BFL" is automatically censored to "***" in the FPGA forums ?

That would be great !

Also, IMHO the people shouting PONZI right naow should be liable for any losses that happen as a result of those posts ...

In other words, if this folds and I lose my xxxx BTC be sure I will come after you hazek and vandroiy to get my last satoshis because you come in here and try to ruin the partay because you were late and jealous now !

Blitz­
Donator
Legendary
*
Offline Offline

Activity: 1596


"Cut Your Loose"


View Profile
July 03, 2012, 03:51:23 PM
 #1214

In other words, if this folds and I lose my xxxx BTC be sure I will come after you hazek and vandroiy to get my last satoshis because you come in here and try to ruin the partay because you were late and jealous now !
Good thing you already have the scammer tag.

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
hazek
Legendary
*
Offline Offline

Activity: 1078


View Profile
July 03, 2012, 03:51:49 PM
 #1215

Exactly.

Anyone talking about Ponzi in this thread should just STFU and GTFO ( just like psy said ) !

Can we make it so "ponzi" is automatically censored to "*****" like "BFL" is automatically censored to "***" in the FPGA forums ?

That would be great !

Also, IMHO the people shouting PONZI right naow should be liable for any losses that happen as a result of those posts ...

In other words, if this folds and I lose my xxxx BTC be sure I will come after you hazek and vandroiy to get my last satoshis because you come in here and try to ruin the partay because you were late and jealous now !



Hahahahaha spoken like a true ponzi "investor" apologist.

My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)

If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
bulanula
Hero Member
*****
Offline Offline

Activity: 518



View Profile
July 03, 2012, 03:53:41 PM
 #1216

In other words, if this folds and I lose my xxxx BTC be sure I will come after you hazek and vandroiy to get my last satoshis because you come in here and try to ruin the partay because you were late and jealous now !
Good thing you already have the scammer tag.

You are implying I am scamming here ? HOW ?

This is not a ponzi and I have said so multiple times in this thread.

hazek, glad you like my comedy. I like it myself Wink
BurtW
Legendary
*
Online Online

Activity: 1792

All paid signature campaigns should be banned.


View Profile WWW
July 03, 2012, 03:54:25 PM
 #1217

Hey!  I got another payout from the last few posts.  Thanks!  Keep it up until your fingers get tired.

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!
BurtW
Legendary
*
Online Online

Activity: 1792

All paid signature campaigns should be banned.


View Profile WWW
July 03, 2012, 03:58:15 PM
 #1218

Oh, but can you do us a favor and leave out all the other unnecessary words, we don't make any BTC on those.  Just stick with something like this:

ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi, ponzi,

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!
bulanula
Hero Member
*****
Offline Offline

Activity: 518



View Profile
July 03, 2012, 04:02:41 PM
 #1219

VIP Hero Member or WoT Rating > 100

 Cry

I'll never have either of those things.

Also, can anybody out of the blue invest in the "new" starter 100 BTC account ?

What happened to referrals ?

Maged
Legendary
*
Offline Offline

Activity: 1260


View Profile
July 03, 2012, 04:03:48 PM
 #1220

pirate, just had an idea, why don't you start an account, where, people can send any amount of money to, as donations basically, it becomes part of the pool. Let that be a non-stop recurring interest account.
Love it!
Oh HELL no! Pirate should NEVER be trusted with money destined for charity. That would be like the pension funds that invested in Madoff.
This is an operation being run more responsibly than many brick-and-mortar firms. Dwolla could certainly learn a thing or two. I also have my suspicions that this service may be a primary reasons the exchange rates have been mostly stable since March, making Bitcoin that much more attractive to non-tech businesses. Tip o' th' hat to the Pirate.
My God, Vandroiy was right with the Eve comparison. In Eve, the biggest scam of all time was also considered by many to be the most reputable business there was. Now, before you say that this doesn't prove anything, it actually brings up a good point: Why hasn't anything ever gone wrong with his business? Sure, there have been some minor payout issues, but that's not his business.

Speaking of business, how does he, as a single person, manage both the investment side of things as well as the other side of his business, and still have time to post/chat on IRC? You can't tell me that his work is easier than MtGox, BitInstant, or Bitcoinica (either before or after its demise), and yet, that's the scale of how many Bitcoins he is dealing with.

Speaking of scale, while I normally could care less that people are falling for a ponzi, this has gotten to the scale where if something bad happened, it would STILL directly affect me, even though I'm not invested in Pirate. I decided to remain silent before, but this has gone too far. It's now at the point where the only way to ensure that you aren't exposed to Pirate is to drop Bitcoin entirely, and as a supporter of Bitcoin, I despise that staying out of Bitcoin is the only rational thing to do as long as Pirate is around.

Pages: « 1 ... 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!