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[bulanula]

woof woof!

Nice to see YOU again here Mr. Dog.

Someone throw him a bone, please !

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[humanitee]

Disclosure: I pulled all of my money from pirate. I had around $1000 dollars in it, which compared to my income is a large amount. I could no longer ignore the feeling in my gut.

That being said, this situation is getting to the point of ridiculousness. Pirate just keeps assuring people he is legit, without ever really doing anything else besides paying out 7%. He never states what he is doing, he just has some secret where he can pull BTC from some unknown source to give back to investors. It resembles a ponzi, I'm sorry but it does. I've watched the bonds issued by Goat and Foo grow every week as more and more people join in. Pirate can't prove he isn't a ponzi, and if anyone says contrary it just turns into a flame war and gets nowhere.

I don't know if it's legit, I don't know if it's illegitimate. Nobody does. The retarded amount of flaming is a sad state of affairs. I appreciate opposing view points, there is no reason not to. Investing money is serious business, and people deserve all the information they can get their hands on. Unfortunately, there isn't much information to be found. All people see is 7%. Until Pirate comes out and gives a detailed description of what he does, the theories will keep on coming.

Sorry pirate (assuming your legit) but it's inescapable. This is a very high risk investment due to the lack of information. I knew that when I signed up, and I'm sure others do to. You can't be mad when people point out the raging similarities between your operation and a ponzi.

1) No information
2) Nice returns for investors
3) Ever increasing amounts of money thrown your way
4) Capital based incentives (at this point)

You can't escape these claims until more transparency is provided about your operation. You won't. Sorry. Get used to it.

On Pirate's side are people assuring a legitimate operation based solely on returns (up to this point), which investment-wise is a fair point. On the other side are people pointing out the similarities between this operation and a ponzi, also a fair point. Bad news Pirate's side, your assurance is how a ponzi operation works, so it's not really evidence to the contrary.  

Anyone with their head not wedged tightly in their ass could step back and see the merits of the opposing argument. What they are saying DOES make sense, it looks EXACTLY like a ponzi. That doesn't mean it is, and it is up to investors to weigh the pros and cons before investing.

All this being said, since I cannot prove or disprove your legitimacy, I would like to thank you for my returns for 5 weeks. I had GLBSE investments provided by Goat and Foo and never had a problem with either of them.

If you are illegitimate, I'll see you in hell.

[pirateat40]

FUD

Please post your FUD on one of the other threads.  This thread is not for debating what I do.

[finkleshnorts]

FUD

Please post your FUD on one of the other threads.  This thread is not for debating what I do.

This is fair.

What exactly is this thread for then, with the new thread for announcements, etc?

[humanitee]

It's not FUD.

It's logic and reasoning. I'm not accusing you of having a ponzi, I can't prove or disprove it. No need to be arrogant, this is the price you pay for running the operation you do. Get used to it. Have a nice day.

[hazek]

FUD

Please post your FUD on one of the other threads.  This thread is not for debating what I do.

Wow that's quite an emotional response?? Surely a legitimate business can handle clients discontinuing their participation and voicing their opinion why they made that decision, right?

[pirateat40]

What exactly is this thread for then, with the new thread for announcements, etc?

Check out the second line on the OP.

[hazek]

What exactly is this thread for then, with the new thread for announcements, etc?

Check out the second line on the OP.

And how is humanitee's post not "general discussion"? He didn't make any claims what you do, he just voiced his opinion and stated the reason for withdrawing.. What could possibly be more general than that?

[pirateat40]

FUD

Please post your FUD on one of the other threads.  This thread is not for debating what I do.

Wow that's quite an emotional response?? Surely a legitimate business can handle clients discontinuing their participation and voicing their opinion why they made that decision, right?

Emotional?  I really think you have a strange view on what you read.  Like the first post after I unlocked the thread states.  There are many places to spread your inspiring information.  

I'll be reporting every post to the mods going forward that doesn't fit in the guidelines of this thread.  If it continues after my attempt to control this thread I'll lock the thread and move everything to IRC where I can.
 

[hazek]

Disclosure: I pulled all of my money from pirate. I had around $1000 dollars in it, which compared to my income is a large amount. I could no longer ignore the feeling in my gut.

That being said, this situation is getting to the point of ridiculousness. Pirate just keeps assuring people he is legit, without ever really doing anything else besides paying out 7%. He never states what he is doing, he just has some secret where he can pull BTC from some unknown source to give back to investors. It resembles a ponzi, I'm sorry but it does. I've watched the bonds issued by Goat and Foo grow every week as more and more people join in. Pirate can't prove he isn't a ponzi, and if anyone says contrary it just turns into a flame war and gets nowhere.

I don't know if it's legit, I don't know if it's illegitimate. Nobody does. The retarded amount of flaming is a sad state of affairs. I appreciate opposing view points, there is no reason not to. Investing money is serious business, and people deserve all the information they can get their hands on. Unfortunately, there isn't much information to be found. All people see is 7%. Until Pirate comes out and gives a detailed description of what he does, the theories will keep on coming.

Sorry pirate (assuming your legit) but it's inescapable. This is a very high risk investment due to the lack of information. I knew that when I signed up, and I'm sure others do to. You can't be mad when people point out the raging similarities between your operation and a ponzi.

1) No information
2) Nice returns for investors
3) Ever increasing amounts of money thrown your way
4) Capital based incentives (at this point)

You can't escape these claims until more transparency is provided about your operation. You won't. Sorry. Get used to it.

On Pirate's side are people assuring a legitimate operation based solely on returns (up to this point), which investment-wise is a fair point. On the other side are people pointing out the similarities between this operation and a ponzi, also a fair point. Bad news Pirate's side, your assurance is how a ponzi operation works, so it's not really evidence to the contrary.  

Anyone with their head not wedged tightly in their ass could step back and see the merits of the opposing argument. What they are saying DOES make sense, it looks EXACTLY like a ponzi. That doesn't mean it is, and it is up to investors to weigh the pros and cons before investing.

All this being said, since I cannot prove or disprove your legitimacy, I would like to thank you for my returns for 5 weeks. I had GLBSE investments provided by Goat and Foo and never had a problem with either of them.

If you are illegitimate, I'll see you in hell.

Please post your FUD on one of the other threads.  This thread is not for debating what I do.

Wow that's quite an emotional response?? Surely a legitimate business can handle clients discontinuing their participation and voicing their opinion why they made that decision, right?

Emotional?  I really think you have a strange view on what you read.  Like the first post after I unlocked the thread states.  There are many places to spread your inspiring information.  

I'll be reporting every post to the mods going forward that doesn't fit in the guidelines of this thread.  If it continues after my attempt to control this thread I'll lock the thread and move everything to IRC where I can.
 

Well you quoted humanitee but, unlike me, you replaced his post with "FUD", a post which only stated that he withdrew his "investment" and stated his reason why, hardly FUD(fear uncertainty destruction), I mean perhaps fear and uncertainty but certainly not destruction, he didn't even accuse of anything and surely a legitimate business should be able to survive a single client leaving, right?

[humanitee]

• A Theory on what pirateat40 is doing
• The Bond party is a HYIP scam party
• BS&T -- Are you staying or leaving?

Adding to the list:
BTCS&T – Why many people here are massive scammers and suckers

[pirateat40]

We're all filled up on crazy here!  Got FUD?  Check out these threads.

• A Theory on what pirateat40 is doing
• The Bond party is a HYIP scam party
• BS&T -- Are you staying or leaving?

Adding to the list:
BTCS&T – Why many people here are massive scammers and suckers

Done

[Vandroiy]

When a scammer asks you to leave his thread, ignore it.

We're not here to be nice. People are convinced the topic in question here is stealing peoples' money, and trying to stop that discussion by telling people to go away is absurd.

I, for one, am ready to face the consequences if I'm wrong. I wouldn't be doing this if I had any doubt I'm seeing a textbook HYIP scam.

[bulanula]

Now if only I could a referral...

You won't need one soon!

The referral process ends with the new accounts in August?
I don't see that change anywhere  

Same here.

I asked a while back if you need an invite with these new changes and never got any response ...

Can anyone deposit on the "starter" 100 BTC plan from 1 August ?

[pirateat40]

Now if only I could a referral...

You won't need one soon!

The referral process ends with the new accounts in August?
I don't see that change anywhere  

Same here.

I asked a while back if you need an invite with these new changes and never got any response ...

Can anyone deposit on the "starter" 100 BTC plan from 1 August ?

It's in the thread somewhere after the initial post on the changes but yes they'll be open to anyone.

[humanitee]

No it's not.

I stated what I did and stated why he gets the responses he does in this and other threads. You think it's bad now? Just wait. The bigger he gets the more positive and negative responses he'll elicit. Sorry, it's part of a healthy forum. Get used to it.

[hazek]

It's fear, uncertainty, and doubt.  Not destruction.

Ahh ok, my mistake. The post could be called that although it's not. Regardless, I still don't understand why would FUD mater to a legitimate business. Do you not remember that there was a time when he even had a limit to how many people could deposit? But suddenly if people leave and voice their opinion it's called FUD and ex clients are being told to keep it to themselves? What changed?

[danieldaniel]

It's fear, uncertainty, and doubt.  Not destruction.

Ahh ok, my mistake. The post could be called that although it's not. Regardless, I still don't understand why would FUD mater to a legitimate business. Do you not remember that there was a time when he even had a limit to how many people could deposit? But suddenly if people leave and voice their opinion it's called FUD and ex clients are being told to keep it to themselves? What changed?

Here's my view on all this.  I personally don't think he is a scam/ponzi.  I am not saying that I don't have any doubts, because I have self-debated about the topic many times.  I don't have many BTC with him anymore, just enough to make a reasonable profit. 

What I think is bad, however, is what Blitz stated in https://bitcointalk.org/index.php?topic=91552.0.
Summary of his thread:
Let's say that pirate is running a legit operation, it's still indistinguishable from a Ponzi.  What's to stop people from defending a real ponzi?

[Vladimir]

... surely a legitimate business should be able to survive a single client leaving, right?

Now, hypothetically speaking let's for just a second, lol, assume that here is indeed a ponzi scheme, and this ponzi scheme has announced that soon it will significantly lower "the interest" at some given date. This hypothetical ponzi scheme has also made some announcement that it's principal who remained anonymous for long time will magically appear at some meetup (with "private security") just a few days before the interest cut-off date and reveal to the world his identity.

The question is: Why our hypothetical ponzi scheme would make such moves? The only plausible answer I can see is that this is an attempt to create an incentive for investors to postpone the decision on withdrawing "the investments" until the cut-off date and play on healthy curiosity of most of the hopium smoking victims. Thus this is creating a window of maximum opportunity for said hypothetical ponzi master to have all the money suddenly "evaporated" right before expected miracle of ceasing being anonymous and actually instead of it.

Now, for another second let's equally hypothetically speaking assume that this is indeed not a ponzi but some miracle worker with some troubles rising low cost capital. Why would such a legitimate gentleman all of the sudden decide to go public on some second tier meet up? Right before dramatical change of "interest" date and after ignoring persistent calls to come clean for very long time, no less. Why not just have a website and post registration details of a relevant company?

Curiosier and curiosier.

[bitcoinBull]

So.. there appears to be a whole lot of lenders, but no sign of borrowers paying the interest?

Have any pirate investors seen any episode of a show called American Greed? weeknights at 10pm on CNBC.