Pirate's primary (and only one, so far as I know) is because if he disclosed his operation, it would allow more competition to come in. But the thing is, he's the big player in this unknown niche, as often happens when you're first-to-market. He's already #1 by a HUGE margin. Why not just disclose the working operations of your business and put all the nay-sayers to rest? Competition would be fighting an uphill battle at that point. Pirate would have the iPad of investment schemes while others would be scambling to design something competitive to hopefully capture just 5% of the market.
THIS!! right here, totally agree, hes the iPad of the BTC, and probably anyone who want to compete it will be uphill a really high hill BTW