Bitcoin Savings and Trust | Home | Closed

[payb.tc]

Right, well I'm fairly keen to deposit my stash here, but as I haven't really traded with anyone already a member it seems I can't.  As I'd only be depositing and sitting on that (rather than having it sitting in my wallet doing nothing) I'm not sure what sort of risks I'd pose or malicious activities I'd be capable of.

Is this likely to opened up a little more in the future or am I just out of luck?

sent you a PM, rolo

[1715286483]

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[1715286483]

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[1715286483]

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[bitfoo]

Right, well I'm fairly keen to deposit my stash here, but as I haven't really traded with anyone already a member it seems I can't.  As I'd only be depositing and sitting on that (rather than having it sitting in my wallet doing nothing) I'm not sure what sort of risks I'd pose or malicious activities I'd be capable of.

Is this likely to opened up a little more in the future or am I just out of luck?

<shameless plug>

There are a few bonds / funds on GLBSE which you can buy that deposit money into BS&T and get similar returns. Or you could choose to deposit through one of the third party pass-through operations on the lending forums.

[OgNasty]

I see the new logo on there now.   

[pirateat40]

Notice

Payments will be processed shortly.

Update Edit: 1:26 PM (+ 1hr 26min past the target payment time.)
Over the last week there's been a few transactions that were incorrectly logged which I thought was a mistake on my part when approving transactions.  This weekend I did some testing and found the issue to be from the latest update to one of the scripts.  Before I process today's payments I want to make sure it's fixed and run the correction script to ensure everyone gets credit correctly.

Thanks,

[brendio]

Notice

Payments will be processed shortly.

Update Edit: 1:26 PM (+ 1hr 26min past the target payment time.)
Over the last week there's been a few transactions that were incorrectly logged which I thought was a mistake on my part when approving transactions.  This weekend I did some testing and found the issue to be from the latest update to one of the scripts.  Before I process today's payments I want to make sure it's fixed and run the correction script to ensure everyone gets credit correctly.

Thanks,

We all thought that, now that your treasure chest is full from all these new pass through operations this week, you had decided to sail off into the sunset. Arghh!  Thanks for the piece of the loot.

[JWU42]

I still love Mondays...

[BinaryMage]

Thanks Pirate.

[PatrickHarnett]

If you put all your money back in every time, it's actually 37x a year :O

Shhhh.. don't do the math.  I don't want to be paying for mortgages and sports cars for my lenders.

I was looking at something else and bumped into this old quote.  I don't have a mortgage, but the interest helps pay for my car hobby and repairs.

[GeoRW]

I wonder how much of the GLBSE economy is dependend on these pirate accounts  If it crashes it might be a disaster as lot of asset issuers are involved in it (not counting smaller investors holding all those pirate bonds out there). Looking forward for the party   

[BinaryMage]

I wonder how much of the GLBSE economy is dependend on these pirate accounts  If it crashes it might be a disaster as lot of asset issuers are involved in it (not counting smaller investors holding all those pirate bonds out there). Looking forward for the party   

Most of the people seriously invested in Pirate have diversified assets. It's the small investors that put all their Bitcoins into pass-throughs that would really suffer.

BS&T defaulting would have repercussions, but it wouldn't crash GLBSE by any means. Most of GLBSE, volume-wise, is mining bonds/companies right now.

[payb.tc]

Most of the people seriously invested in Pirate have diversified assets

what makes you say that?

i have no idea how even pirate himself would be able to verify that as fact.

[BinaryMage]

Most of the people seriously invested in Pirate have diversified assets

what makes you say that?

i have no idea how even pirate himself would be able to verify that as fact.

Oh, I can't provide a spreadsheet with people's assets, if that's what you're asking for. (Unless everyone starts releasing their investments publicly, no one could)

Simply an educated guess, based on what I've read on the forums over the past few months, and based on what other projects people I know have money with Pirate are running. No quantitative evidence, I'm afraid, just my impressions, for whatever they're worth.

My point was really that a default by Pirate wouldn't crash Bitcoin, GLBSE, or the like.

[PatrickHarnett]

Oh, I can't provide a spreadsheet with people's assets, if that's what you're asking for. (Unless everyone starts releasing their investments publicly, no one could)

Dig harder - quite a lot is public.

[payb.tc]

Oh, I can't provide a spreadsheet with people's assets, if that's what you're asking for. (Unless everyone starts releasing their investments publicly, no one could)

Dig harder - quite a lot is public.

heh, even if everyone on this entire forum announced publicly that they were investors in pirate's fund, that still may only represent 10% of the total lenders.

good luck

[BinaryMage]

Oh, I can't provide a spreadsheet with people's assets, if that's what you're asking for. (Unless everyone starts releasing their investments publicly, no one could)

Dig harder - quite a lot is public.

heh, even if everyone on this entire forum announced publicly that they were investors in pirate's fund, that still may only represent 10% of the total lenders.

good luck

What makes you say that? I kid, I kid.

I'm sure you know more about this that I do Patrick - I haven't done any research per se, just an assumption with some circumstantial evidence. Don't overanalyze it too much.

[SimBesh]

Right, well I'm fairly keen to deposit my stash here, but as I haven't really traded with anyone already a member it seems I can't.  As I'd only be depositing and sitting on that (rather than having it sitting in my wallet doing nothing) I'm not sure what sort of risks I'd pose or malicious activities I'd be capable of.

Is this likely to opened up a little more in the future or am I just out of luck?

I'd like to basicly echo this comment, what do i have to do to be able to deposit?
Thanks!

[brendio]

Right, well I'm fairly keen to deposit my stash here, but as I haven't really traded with anyone already a member it seems I can't.  As I'd only be depositing and sitting on that (rather than having it sitting in my wallet doing nothing) I'm not sure what sort of risks I'd pose or malicious activities I'd be capable of.

Is this likely to opened up a little more in the future or am I just out of luck?

I'd like to basicly echo this comment, what do i have to do to be able to deposit?
Thanks!

I'm pretty sure even if you got a referral it wouldn't do much good, as pirate is not accepting new account. You best option is to find a suitable pass through product. You can find one in my signature, but there are also plenty of other around if you look.

[Cobra]

I'd like to basicly echo this comment, what do i have to do to be able to deposit?
Thanks!

As the OP says you need a referral. I am in the same boat but with a referral and no account. I have a feeling that with the ever increasing popularity of the free pass-through's there is just no need for new accounts at this time. Plenty of BTC is rolling in from existing sources. Why would Pirate want to make more legwork with new accounts when it is not needed, completely understandable. 

You can basically get the same benefits by picking a pass-through. Of course nobody wants to go through 3rd party but it is what it is. Possibly requiring new accounts to start with 500BTC or more would eliminate some of the legwork.

[brendio]

I'd like to basicly echo this comment, what do i have to do to be able to deposit?
Thanks!

As the OP says you need a referral. I am in the same boat but with a referral and no account. I have a feeling that with the ever increasing popularity of the free pass-through's there is just no need for new accounts at this time. Plenty of BTC is rolling in from existing sources. Why would Pirate want to make more legwork with new accounts when it is not needed, completely understandable. 

You can basically get the same benefits by picking a pass-through. Of course nobody wants to go through 3rd party but it is what it is. Possibly requiring new accounts to start with 500BTC or more would eliminate some of the legwork.

Unless you have 2000 BTC to plonk down, the pass throughs are a better option for most anyway. You need 500 BTC to get even 5.6 %. Most pirate bonds offer more than that if you don't pay too much for it.

[Cobra]

Unless you have 2000 BTC to plonk down, the pass throughs are a better option for most anyway. You need 500 BTC to get even 5.6 %. Most pirate bonds offer more than that if you don't pay too much for it.

Right, I am aware of that as well. I had planned to get the account open and scale up to 2k in a month (no, not another pass through). Investing a larger Sum with a 3rd party as the go-between just feels a little more risky that's all.  It looks like many members including yourself are completely legit and honest people. For Jr members like myself and others it just takes time reading posts to have that comfort level to trust multiple people (basically strangers) with a decent amount of money. As the rather humorous ponzi thread shows, others share that concern. You can understand why a person would want to try to eliminate as many risks as possible.