copumpkin
Donator
Sr. Member
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Activity: 266
Merit: 252
I'm actually a pineapple
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January 08, 2012, 06:23:03 PM |
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Sounds like good collateral Oh, you have no idea
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vuce
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January 08, 2012, 07:14:52 PM |
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Matthew N. Wright
Untrustworthy
Hero Member
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Activity: 588
Merit: 500
Hero VIP ultra official trusted super staff puppet
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January 08, 2012, 07:30:56 PM Last edit: January 08, 2012, 07:52:25 PM by Matthew N. Wright |
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Am I the only one here that thinks this entire thing will end badly?
Hey, troll somewhere else. kthnx Although hard to believe, I'm being serious. I've seen people in bitcoin throw their money away time and time again and it really feels like everyone is so loaded up on hope (and maybe dope) that they're willing to do anything for a chance of making bitcoin pan out for them. Be realistic afterall, if all I need to do is spend some time and a little bit of money passing money back and forth to get some credibility in order to rob people in a community of tens of thousands of dollars, that doesn't shine well on the community's common sense. I assure you though, if it makes sense to do I'm always involved, and that- not to troll-- is the reason I am here. Am I the only one here that thinks this entire thing will end badly?
I am truly honored the be trolled by the king of all trolls. I fell like I have gotten to the top somehow. Thanks In other news I wake to find that the DC where btclending.com is being hosted is under DDoS attacks. I am not a happy camper. Atlas is gone. So quiet here. Have to find new meat to chew on for comedic value. Am I the only one here that thinks this entire thing will end badly?
There's always a non-zero risk of defaulting in any loan situation. As a compulsive loaner on IRC, pirateat40 was just another borrower to me, and I evaluated him as I do with anyone else and decided it seemed safe enough for me to risk it. His actions since my initial loan to him have reinforced my trust in him, but anyone who assumes you can make big money with no risk is going to get burned eventually. Personally, I'd be pretty bummed if he disappeared with my money, but I won't have trouble making the rent and will probably keep dealing bitcoins with other people. And on the grand scheme of things, I still think this deal has probably one of the highest reward/risk ratios out there. So anyway, I think it's a lot more likely to end well than to end badly, but one can never be sure the only difference between us is that I've dealt with pirateat40 a hell of a lot more than you have. That could either cloud my objectivity or give me more information to form a correct opinion, and I guess time will tell which tl;dr: yours is a valid concern, and is definitely one that all lenders should be aware of at all times, but I think the risk is low, and I'm risk-tolerant enough to bet a lot of "real money" on that viewpoint Makes perfect enough sense and thanks for taking the time to explain. I understand risk perfectly and appreciate it far more than many people I know. But as you mention: the only difference between us is that I've dealt with pirateat40 a hell of a lot more than you have. That could either cloud my objectivity or give me more information to form a correct opinion, and I guess time will tell which And that response is the one I am looking for. Does everyone here know him? Is everyone just hopping on the trust train because one guy trusts him? That's why I'm asking. To find out.
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pirateat40 (OP)
Avast Ye!
Sr. Member
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Activity: 378
Merit: 250
"Yes I am a pirate, 200 years too late."
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January 08, 2012, 07:46:54 PM |
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Storage Updated
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PatrickHarnett
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January 08, 2012, 07:53:10 PM |
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Thank you Mathew for your perspective. Yes, this might all end badly and I have considered the risks if this particular investment, hence I have not poured everything I have into it, just some and incrementally (thanks Pirate - taking up some of the updated storage).
I didn't consider your post a "troll" at all, but I do need to check the bitcoin awards to see who got the 2011 prize.
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Matthew N. Wright
Untrustworthy
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Activity: 588
Merit: 500
Hero VIP ultra official trusted super staff puppet
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January 08, 2012, 07:55:29 PM |
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Thank you Mathew for your perspective. Yes, this might all end badly and I have considered the risks if this particular investment, hence I have not poured everything I have into it, just some and incrementally (thanks Pirate - taking up some of the updated storage).
I didn't consider your post a "troll" at all, but I do need to check the bitcoin awards to see who got the 2011 prize.
I don't think "Worst Troll" made it into the final awards, but I do think "Atlas getting banned" made the best community effort lolz
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PatrickHarnett
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January 08, 2012, 08:06:05 PM |
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Thank you Mathew for your perspective. Yes, this might all end badly and I have considered the risks if this particular investment, hence I have not poured everything I have into it, just some and incrementally (thanks Pirate - taking up some of the updated storage).
I didn't consider your post a "troll" at all, but I do need to check the bitcoin awards to see who got the 2011 prize.
I don't think "Worst Troll" made it into the final awards, but I do think "Atlas getting banned" made the best community effort lolz I just checked the results - I see you got #2 spot behind Phinnaeus
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grubles
Full Member
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Activity: 180
Merit: 100
mistaken for gribble since 2011
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January 08, 2012, 08:10:31 PM |
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Pirateat40 is legit. I have full confidence in his ability to manage any coins I may present to him.
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BM-NBi5PcH8BBqDVp7WSJe2pNgqEVvTjd6T
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copumpkin
Donator
Sr. Member
Offline
Activity: 266
Merit: 252
I'm actually a pineapple
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January 08, 2012, 08:46:04 PM |
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And that response is the one I am looking for. Does everyone here know him? Is everyone just hopping on the trust train because one guy trusts him? That's why I'm asking. To find out.
I don't know about all his lenders, but a significant number of us know him from the #bitcoin-otc IRC channel, where he's active and friendly and also happens to be a channel operator. I guess the quality of his character doesn't say much about his solvency, but it seems a bit much to ask for someone's financial history here. What we do know is that he's put a lot of time and effort into bitcoin-related work and has two thriving businesses (the other being the new GPUMAX), so either it would go down as the biggest scam in our history, or he's just heavily invested in bitcoin and the community I obviously think that it's most likely the latter.
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ineededausername
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January 08, 2012, 08:48:37 PM |
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What we do know is that he's put a lot of time and effort into bitcoin-related work and has two thriving businesses (the other being the new GPUMAX), so either it would go down as the biggest scam in our history, or he's just heavily invested in bitcoin and the community I obviously think that it's most likely the latter. Playing devil's advocate here, Tom Williams was also heavily invested in Bitcoin, and definitely put a lot of time into Mybitcoin.
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(BFL)^2 < 0
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pirateat40 (OP)
Avast Ye!
Sr. Member
Offline
Activity: 378
Merit: 250
"Yes I am a pirate, 200 years too late."
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January 08, 2012, 08:50:41 PM |
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What we do know is that he's put a lot of time and effort into bitcoin-related work and has two thriving businesses (the other being the new GPUMAX), so either it would go down as the biggest scam in our history, or he's just heavily invested in bitcoin and the community I obviously think that it's most likely the latter. Playing devil's advocate here, Tom Williams was also heavily invested in Bitcoin, and definitely put a lot of time into Mybitcoin. I lost half my coins to this scam/hack.
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Raoul Duke
aka psy
Legendary
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Activity: 1358
Merit: 1002
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January 08, 2012, 08:53:53 PM |
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What we do know is that he's put a lot of time and effort into bitcoin-related work and has two thriving businesses (the other being the new GPUMAX), so either it would go down as the biggest scam in our history, or he's just heavily invested in bitcoin and the community I obviously think that it's most likely the latter. Playing devil's advocate here, Tom Williams was also heavily invested in Bitcoin, and definitely put a lot of time into Mybitcoin. I lost half my coins to this scam/hack. Now you are scaring me Well... hope you learnt the lesson on how to take care of your(our) Bitcoins
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pirateat40 (OP)
Avast Ye!
Sr. Member
Offline
Activity: 378
Merit: 250
"Yes I am a pirate, 200 years too late."
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January 08, 2012, 09:04:52 PM |
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All said and done, I have nothing against anyone that questions my trustworthiness. Being in an industry like this even the most trusted can go MIA. As I have said in the past, it's trust at the core that made me successful in this endeavor and will continue to be the core of my very existence. Those that know me know I'm always available and spare no expense in making things right. The great thing about my service is at any point you feel uncomfortable you can withdraw your coins and put them back under your mattress. Until then I'll continue to manage and secure (personally) the coins I hold for my lenders until the time comes when I can no longer be profitable. When that time comes my storage would have dropped enough that most of my lenders would have had all of their coins returned anyway. It's good to have these talks every 50 posts or so. On with the show...
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pirateat40 (OP)
Avast Ye!
Sr. Member
Offline
Activity: 378
Merit: 250
"Yes I am a pirate, 200 years too late."
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January 08, 2012, 09:07:00 PM |
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What we do know is that he's put a lot of time and effort into bitcoin-related work and has two thriving businesses (the other being the new GPUMAX), so either it would go down as the biggest scam in our history, or he's just heavily invested in bitcoin and the community I obviously think that it's most likely the latter. Playing devil's advocate here, Tom Williams was also heavily invested in Bitcoin, and definitely put a lot of time into Mybitcoin. I lost half my coins to this scam/hack. Now you are scaring me Well... hope you learnt the lesson on how to take care of your(our) Bitcoins When this happened I was still new to bitcoin and didn't trust my wallet on my pc. LULZ Anyway, lessons were learned and now protecting these bits of data are like breathing for me.
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pirateat40 (OP)
Avast Ye!
Sr. Member
Offline
Activity: 378
Merit: 250
"Yes I am a pirate, 200 years too late."
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January 08, 2012, 09:10:29 PM |
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Hey I just went to your website, how do I create an account?
Thanks!
PM for info
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BurtW
Legendary
Offline
Activity: 2646
Merit: 1137
All paid signature campaigns should be banned.
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January 09, 2012, 08:21:46 PM |
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Wow, P@40 is fast (at responding to PM requests). A+++ customer service.
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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!
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pirateat40 (OP)
Avast Ye!
Sr. Member
Offline
Activity: 378
Merit: 250
"Yes I am a pirate, 200 years too late."
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January 10, 2012, 07:08:19 PM |
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Storage Updated
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Hunterbunter
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January 11, 2012, 02:46:45 PM |
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lol damn that filled fast
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BurtW
Legendary
Offline
Activity: 2646
Merit: 1137
All paid signature campaigns should be banned.
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January 11, 2012, 03:02:59 PM |
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I totally missed it. How long did it take to fill?
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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!
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vuce
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January 11, 2012, 03:07:08 PM |
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I totally missed it. How long did it take to fill?
10 minutes, as far as I can remember
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