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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.

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Author Topic: Bitcoin Savings and Trust | Home | Closed  (Read 802031 times)
pirateat40 (OP)
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January 19, 2012, 08:15:48 PM
 #401

So I should start dating your other sister? Wink

Why yes, she is healing up nicely from the last user.  She should be ready soon.

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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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copumpkin
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January 19, 2012, 08:15:58 PM
 #402

So I should start dating your other sister? Wink

Nah, I've got them both. Mormonism is great.
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January 19, 2012, 08:16:17 PM
 #403

So I should start dating your other sister? Wink

I demand that pirate gets a new sister, so I can date her. xD

(BFL)^2 < 0
copumpkin
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January 19, 2012, 08:16:27 PM
 #404

So I should start dating your other sister? Wink

Why yes, she is healing up nicely from the last user.  She should be ready soon.

Dammit, we need to agree on our stories before posting here!
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January 19, 2012, 08:23:09 PM
 #405

I have always assumed that some or even most of the new storage openings are just Pirate refilling his treasure chest as people remove their capital for whatever reasons they have to remove it.  I expect that today is a big day for that since we all just got paid.  I ususally add/remove on pay days since it seems a natural day to do it.
Please link to the appropriate posts where someone makes any or all of the concerns I made in the following posts:
https://bitcointalk.org/index.php?topic=50822.msg702282#msg702282
https://bitcointalk.org/index.php?topic=50822.msg702325#msg702325
https://bitcointalk.org/index.php?topic=50822.msg702371#msg702371

Thanks!

Also, pirate:
If you don't mind me asking; was the updated storage availability today caused by a withdrawal or new client? I don't expect you to answer this question, but you usually announce when there are new clients in town, so I'll try my luck.

Start here:
https://bitcointalk.org/index.php?topic=50822.msg605957#msg605957

Seriously, if you want to invest, do your own research.  If you're just trolling, GTFO.  We're all happy here, and we are well aware of the risks we are taking.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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January 19, 2012, 08:30:40 PM
 #406

people tend to assume that everyone just deposit and don't ever withdraw. If that is the case, pirate would have at least tens of thousands of BTC.
investors do withdraw. I know I do.
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January 19, 2012, 08:35:14 PM
 #407

Ok, now you have gotten me curious. Why do you withdraw?

To use the BTC for other purposes.

https://www.bitcoin.org/bitcoin.pdf
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January 19, 2012, 08:39:56 PM
 #408

Start here:
https://bitcointalk.org/index.php?topic=50822.msg605957#msg605957

Seriously, if you want to invest, do your own research.  If you're just trolling, GTFO.  We're all happy here, and we are well aware of the risks we are taking.
You see, I've read all the pages, and I've yet to find posts which cover all of the concerns I've issued lately.
pirateat40 (OP)
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January 19, 2012, 08:40:52 PM
 #409

New Poll

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January 19, 2012, 08:45:27 PM
 #410

Start here:
https://bitcointalk.org/index.php?topic=50822.msg605957#msg605957

Seriously, if you want to invest, do your own research.  If you're just trolling, GTFO.  We're all happy here, and we are well aware of the risks we are taking.
You see, I've read all the pages, and I've yet to find posts which cover all of the concerns I've issued lately.

Seriously, If you want to invest, do your own research.  If you're just trolling, GTFO.  We're all happy here, and we are well aware of the risks we are taking.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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January 19, 2012, 08:47:13 PM
 #411

New Poll

In all seriousness, I hope you're joking.
pirateat40 (OP)
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January 19, 2012, 08:48:02 PM
 #412

New Poll

In all seriousness, I hope you're joking.

Of course, just trolling my own thread.

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January 19, 2012, 08:49:47 PM
 #413

New Poll

In all seriousness, I hope you're joking.
No, it's for real! You get 1% per day, but can never withdraw it. Still, you get 1% per day, that's pretty good, no?

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January 19, 2012, 08:50:31 PM
 #414

I just cannot decide how to vote on that new poll.  It kind of remindes me of a US presidential election.  Which scum to you want, pick one.

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!
copumpkin
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January 19, 2012, 08:51:02 PM
Last edit: January 19, 2012, 09:09:45 PM by copumpkin
 #415

Start here:
https://bitcointalk.org/index.php?topic=50822.msg605957#msg605957

Seriously, if you want to invest, do your own research.  If you're just trolling, GTFO.  We're all happy here, and we are well aware of the risks we are taking.
You see, I've read all the pages, and I've yet to find posts which cover all of the concerns I've issued lately.

Fair enough. There's really no way to prove you _aren't_ a ponzi scheme without having everyone withdraw at once, and even then the scammer could just pay out all withdrawals, build confidence by doing so, and then steal money later. Anecdotal withdrawal evidence doesn't show anything, as the withdrawals are easily paid with other deposits.

Given that there's no way someone can be as profitable as pirateat40 while also being transparent, either we can assume he's a scammer and not invest with him, refuse to lend unless he becomes more transparent (thus curbing earning potential if he isn't a scammer), or just deal with the risk and accept the exceptional potential profits for what is certainly a risky business. I choose the last of those three, and so do many other people.

Bitcoin is an economy like we've never seen before. It's volatile, highly (pseudo/ano)nymous, and completely unregulated. This leads to lots of scams, but can also give us crazy profits. But you can't try to force it into standard expectations from real-world companies. Transparency is optional here, and the best you can do if you don't like it is to not invest with him. If you come here preaching at us and telling us it's risky, it just comes across as condescending, as if we haven't thought about this before. I lend a _lot_ of money to pirateat40, and sure, the thought of him running with it does cross my mind. I've decided that the risk is worth it, and lend to him anyway. Perhaps I'm irrational and/or greedy, but I don't think you're going to help with any of that.

Maybe you'll successfully convince some people here to withdraw from him because you've pointed out that there's no free lunch, and that's good because we don't want people naively thinking they can get high profits with no (or even low) risk. But when they pull out and open up more capacity, those of us who are more risk-tolerant and who can afford to play a bit more are just going to jump in.
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January 19, 2012, 08:55:26 PM
 #416

Fair enough. There's really no way to prove you _aren't_ a ponzi scheme without having everyone withdraw at once, and even then the scammer could just pay out all withdrawals, build confidence by doing so, and then steal money later.
To be fair, he'd have to supply all the interest rate out of his own pocket temporarily. If he doesn't actually run any business, that might be difficult. Or not.

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January 19, 2012, 08:58:04 PM
 #417

Let's never do withdrawals. All in favor, say Yes (or Oui, Ja, or Si).

Motion passed with 10 votes in favor, and zero votes against.

pirateat40 (OP)
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January 19, 2012, 08:58:37 PM
 #418

Let's never do withdrawals. All in favor, say Yes (or Oui, Ja, or Si).

Motion passed with 10 votes in favor, and zero votes against.

Witnessed

Matthew N. Wright
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January 19, 2012, 09:02:20 PM
 #419

Let's never do withdrawals. All in favor, say Yes (or Oui, Ja, or Si).

Motion passed with 10 votes in favor, and zero votes against.

Witnessed

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https://bitcointalk.org/index.php?topic=60289.20

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January 19, 2012, 09:04:55 PM
 #420

what?
so now all four options are "yes", and only one option is "no".
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