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Author Topic: Bitcoin Savings and Trust | Home | Closed  (Read 774173 times)
Raoul Duke
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June 08, 2012, 04:07:17 AM
 #921

This all seems even riskier than bitcoinica, no offense.

Ah, but Pirate doesn't hold your funds hostage. lol

Bitcoinica didn't either...for a while.

OK, this one will shut you up: AFAWK Pirate didn't let hackers steal 64K BTC from him and blamed it on someone else.

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imsaguy
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June 08, 2012, 04:22:47 AM
 #922

It is insurance, but I know you have seen the math on if it is worth while or not. And yeah, it is great if you can get the PPT bonds at the right price (I have bought PPT bonds while selling my own pirate bonds!). However the insurance gimmick is something someone should clearly look into before they buy. The buyer clearly has the option to just hold 125 of his 500 BTC on the side thus being the same as the PPT insurance depending on the rate he buys at. The PPT bonds are not bad, just different than one would expect in my opinion. There are good rates to buy them at and all buyers have to do is work out the maths first. I did not mean to be negative towards your product. Sorry if it came off that way. PPT bonds also have a plus that the others do not. They are backed by many trusted members. So if just one guy runs into trouble the bonds will be mostly (or 100%?) covered.

You didn't mean to be negative, but you do call the product a gimmick. 

The insurance fund is already set aside, so even if one of the original investors has trouble, it doesn't matter because the money is already set aside.  What happens when you have trouble?  Who is going to pony up the funds?

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

EIEIO:
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Shades Minoco Collection Thread: https://bitcointalk.org/index.php?topic=65989
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runlinux
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June 11, 2012, 04:31:05 PM
 #923

As much as Mondays suck, I sure do love Bitcoin Mondays!

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June 11, 2012, 04:44:01 PM
 #924

... I sure do love Bitcoin Mondays!

Me too! Thanks a million pirate!!!

I hope that we never have to play this tune except in nostalgic ironic memory of the greatest thing ever, that one day was wound down gracefully  Wink  Monday Monday, so good to me ...

http://www.youtube.com/watch?feature=player_embedded&v=h81Ojd3d2rY




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June 11, 2012, 05:54:59 PM
 #925

 Grin

'nuff said..

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June 11, 2012, 06:14:49 PM
 #926

http://news.yahoo.com/back-oblivion-russian-fraudster-pushes-scam-062530584.html

I'm neutral on the MMM accusations, myself, but if interest payout starts dropping from this month it will be quite a coincidence.
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June 11, 2012, 06:15:32 PM
 #927

I'm just curious why in the world anyone would go to their investment and say, "Hey, I think you are giving me too great of a return on my money. You should stop that."

Seriously?

Raoul Duke
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June 11, 2012, 06:21:28 PM
 #928

I'm neutral on the MMM accusations, myself, but if interest payout starts dropping from this month it will be quite a coincidence.

You already have at least 10 threads where to spread your FUD. Please keep the FUD there. This thread is for real business, kissing Pirate's ass, etc. lol

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June 11, 2012, 09:04:55 PM
 #929

I'm just curious why in the world anyone would go to their investment and say, "Hey, I think you are giving me too great of a return on my money. You should stop that."

Seriously?

Because it can be good business.

Last month I lowered the interest rate I was charging on a perpetual loan.  Amongst other things, my expected payoff over the life of that client is now much higher.
Raoul Duke
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June 11, 2012, 09:09:52 PM
 #930

I'm just curious why in the world anyone would go to their investment and say, "Hey, I think you are giving me too great of a return on my money. You should stop that."

Seriously?

Because it can be good business.

Last month I lowered the interest rate I was charging on a perpetual loan.  Amongst other things, my expected payoff over the life of that client is now much higher.

Ok, I have a deal for you: Just withdraw all your capital from BTCS&T and I'll pay you 1%/week if that makes you feel better.

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June 11, 2012, 09:15:09 PM
 #931

I'm just curious why in the world anyone would go to their investment and say, "Hey, I think you are giving me too great of a return on my money. You should stop that."

Seriously?

Because it can be good business.

Last month I lowered the interest rate I was charging on a perpetual loan.  Amongst other things, my expected payoff over the life of that client is now much higher.

Ok, I have a deal for you: Just withdraw all your capital from BTCS&T and I'll pay you 1%/week if that makes you feel better.

I pretty sure his point was that when the interest rate goes down the borrower can pay the loan off slower and thus the lender makes more money.

Translated to the pirate case, it means if he drops the interest rate he can avoid paying off some deposits early.  I've got no clue if pirateat40 is even close to needing to do this.  If he is I too would prefer a lower interest rate rather than a forced withdrawal.

https://www.bitcoin.org/bitcoin.pdf
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imsaguy
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June 11, 2012, 09:24:40 PM
 #932

I'm just curious why in the world anyone would go to their investment and say, "Hey, I think you are giving me too great of a return on my money. You should stop that."

Seriously?

Because it can be good business.

Last month I lowered the interest rate I was charging on a perpetual loan.  Amongst other things, my expected payoff over the life of that client is now much higher.

Ok, I have a deal for you: Just withdraw all your capital from BTCS&T and I'll pay you 1%/week if that makes you feel better.

Too late, I'm already paying him 2%.

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

EIEIO:
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Shades Minoco Collection Thread: https://bitcointalk.org/index.php?topic=65989
Payment Address: http://btc.to/5r6
aq
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June 11, 2012, 10:32:13 PM
 #933

I'm just curious why in the world anyone would go to their investment and say, "Hey, I think you are giving me too great of a return on my money. You should stop that."

Seriously?

Because it can be good business.

Last month I lowered the interest rate I was charging on a perpetual loan.  Amongst other things, my expected payoff over the life of that client is now much higher.

Ok, I have a deal for you: Just withdraw all your capital from BTCS&T and I'll pay you 1%/week if that makes you feel better.

Too late, I'm already paying him 2%.
It seems that someone prefers a lower rate, thus 1% wins  Wink
PatrickHarnett
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June 11, 2012, 10:41:17 PM
 #934

I'm just curious why in the world anyone would go to their investment and say, "Hey, I think you are giving me too great of a return on my money. You should stop that."

Seriously?

Because it can be good business.

Last month I lowered the interest rate I was charging on a perpetual loan.  Amongst other things, my expected payoff over the life of that client is now much higher.

Ok, I have a deal for you: Just withdraw all your capital from BTCS&T and I'll pay you 1%/week if that makes you feel better.

Sorry psy, I think I could tell you I've taken a gazillion coins out of BS&T and and have you pay me 1% of that number, but that's not how it works.  Wouldn't it be better if everyone took their coins out of BS&T increasing demand for deposits that your would satisfy for a higher price for a short term gain?

Anyway, the particular deal I was thinking of is only for 350 coins.  It's an interest only deal and paying quite nicely.  It's not the only loan I've adjusted the interest rates down on, and I had one of those complete this week after three months.
Raoul Duke
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June 11, 2012, 10:45:12 PM
 #935

You could tell me what the hell you wanted. I would only pay you 1% after you sent the coins to me.
I didn't say I would deposit them with pirate, you were the one to assume that, nor did I say anything about how long you wouldn't be able to withdraw them.
And dude, a gazillion bitcoins? Really? lol
Oh, btw, the time is up. Deal canceled.

PatrickHarnett
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June 11, 2012, 10:48:31 PM
 #936

Oh, you want me to send the coins to you?  I wasn't going to do that, just have them sit under a rock somewhere.  (hence no assumption about what you would have done)

As for a gazillion - I had to pick something.  I could have said some or even several.  How about 10?
Raoul Duke
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June 11, 2012, 10:53:42 PM
 #937

How about 10?

Doesn't matter anymore. It was a once in a lifetime deal and you let it pass. Someone else outsmarted you Wink

PatrickHarnett
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June 11, 2012, 11:11:01 PM
 #938

How about 10?

Doesn't matter anymore. It was a once in a lifetime deal and you let it pass. Someone else outsmarted you Wink

Oh well - I'm not too upset.  and anyway, Patrick Star is the smartest starfish in Bikini Bottom.
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June 11, 2012, 11:13:25 PM
 #939

Trolls pls stop)
P.S. Pirate, how does site`s works going, any new features coming?

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June 14, 2012, 11:28:57 PM
 #940

Hey Guys,

So, this is the announcement that I think most of you were dreading.

I'll cut to the point and not keep you hanging.  I'm taking a single day vacation and will be out of town and unavailable for almost a full 24 hours.  If you need anything, please let me know prior to then otherwise you'll have to wait until I'm back in town.

I'll be out of town and away from everything except for my phone on Saturday, June 16th from 2PM CST till Sunday, June 17th at 12PM CST.  

If there's an emergency, please contact me via PM or email and Ill get back to you depending on if it's a REAL emergency. Smiley

... see that wasn't so bad.

-pirate

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