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Warning: Moderators do not remove likely scams. You must use your own brain: caveat emptor. Watch out for Ponzi schemes. Do not invest more than you can afford to lose.

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Author Topic: Starfish BCB - Loans and Deposits  (Read 56245 times)
Chang Hum
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September 22, 2012, 10:48:16 AM
 #481

Micon and co -  why don't you all go after people who are not making any attempts to give people back money ?


It's too late for them, we did before they defaulted!

What are you peoples hoping to achieve in this thread ?


Save fools money, to stop the ongoing propagation of scams that will ruin bitcoin for everyone else
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September 22, 2012, 11:08:47 AM
 #482

Just seems strange no one in this thread seems to be complaining about not getting there money back... the only ones complaining are the ones who weren't involved ??

but with 1 or 2 other lenders, people are complaining they have not received anything back and the lenders don't seem to be saying anything... and all you people don't seem to worried about that.


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September 22, 2012, 11:08:56 AM
 #483

Save fools money, to stop the ongoing propagation of scams that will ruin bitcoin for everyone else

Bitcoin is and always will be a scammers wetdream. As Bitcoin grows the scams will only every increase.

The only way, and I really mean the only way for people to learn is, to get burnt. Some may learn quickley, others perhaps 2 or 3 times, other won't learn ever.

No offense intended, but you are totally wasting your time trying to "protect bitcoin from scams."
By all means keep trying, but your fighting an uphill battle.

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September 22, 2012, 01:25:44 PM
 #484

I think foolish is the operating word here, their trolling has grown tiresome to look at already. To the trolls, you do realize if you have a bank account, you take your money and place it in savings. What do you think the bank does with that money? They invest it in a very diversified set of securities so that you can get your small % of interest. That is essentially what patrick does, I suggest you get out your big poster boards and stand outside bank of america and wells fargo and yell at them about how big of a ponzi they are running.

a) Banks are financed without borrowing money at 168% a year
b) Banks charge interest between 3% and 29% (in the case of expensive credit cards, if you paid the minimum payment at this rate on a $5000 credit it would take 41 years to clear)
c) Patrick by comparison charges 281% Apr which is far worse then 10 times the most expensive credit card when you factor in that it's being lent from a deflationary currency.
d) Regarding banks, their business model is comparatively closer to making sense and have you watched the news in the last 5 years? who's going to print bitcoins for Patrick.

This is my third post explaining the situation clearly I think it's funny I haven't had a response picking apart my argument!!

I think you are at fault with c). Bitcoin may be deflationary in itself, but there is no way to predict if Bitcoin's total worth in $ is deflationary. That would be equal to guaranteeing a profit on long Bitcoin positions. Bitcoin is still young and volatile, and carries a non trivial risk in the medium term future. This does justify a high interest rate, as even high % APR in BTC does not guarantee the credit's worth in $. High interest on credits leads to high interest on deposits.

A corollary of this thought is, reasonably intelligent (and honest) credit takers are speculating on falling BTC prices (if they convert the BTC to fiat), or they would take a credit denominated in $.

Note I don't disagree with you in general, but clearly your argument c) is flawed because it does not take into account the high risk of BTC positions.
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September 22, 2012, 01:50:47 PM
 #485

Not because of the likes of Puppet, Micon or many others that like to claim how foolish I am providing a service,

No one said "providing a service" was foolish, not even providing a service like you did. The foolishness was in believing all the ponzi operators and scammers and anonymous lenders that claimed no exposure, and your assumption you would get the vast majority of those loans back, even though many of them would default along with the ponzi's they invested in and even though you probably have zero leverage over them.

Put differently, you were a fool to believe your own credit ratings.
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September 22, 2012, 04:53:29 PM
 #486

Save fools money, to stop the ongoing propagation of scams that will ruin bitcoin for everyone else

Bitcoin is and always will be a scammers wetdream. As Bitcoin grows the scams will only every increase.

The only way, and I really mean the only way for people to learn is, to get burnt. Some may learn quickley, others perhaps 2 or 3 times, other won't learn ever.

No offense intended, but you are totally wasting your time trying to "protect bitcoin from scams."
By all means keep trying, but your fighting an uphill battle.

Agreed. Saving people from themselves has never been successful. Some lessons can only be learned the hard way. Can team ponzi please go troll other threads that need there attention. Patrick hasn't earned it.
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September 22, 2012, 08:52:14 PM
 #487

Just seems strange no one in this thread seems to be complaining about not getting there money back... the only ones complaining are the ones who weren't involved ??
Because they still hope to get their money back and believe that such complaints will reduce their chances. For one thing, those who owe money can pretty much walk away without consequences. Also, the more people who complain that they're not getting their money back, the more other people who will apply pressure for early withdrawals, reducing the chances that those who are already waiting will actually get money back. It makes perfect sense that victims, so long as they still hope to get some money back, won't complain. The last thing they want to do is make the line they're on longer.

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but with 1 or 2 other lenders, people are complaining they have not received anything back and the lenders don't seem to be saying anything... and all you people don't seem to worried about that.
Those complaints serve the same purpose, so what else do you think needs to be done? It's obvious there's a problem if people are saying they haven't gotten their money back yet.

I am an employee of Ripple.
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September 23, 2012, 01:41:18 AM
 #488

received my full deposit + principal.

thanks patrick ! will be glad to do more bussines in the future Wink
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September 23, 2012, 06:06:03 AM
 #489

Micon and co -  why don't you all go after people who are not making any attempts to give people back money ?
What are you peoples hoping to achieve in this thread ?



Good Question.

PatrickHarnett isn't your usual fly-by-night scam - he's a confidence man, i.e. the long con.  It's not this 1 deal that went bad either - go take a look at the Kranken fund- https://bitcointalk.org/index.php?topic=100913.0 

He's also basically said there was no way he would ever pay back starfish principle, even when given until the end of the year. 

It's a plain and simple scam, you should be mad at him instead of me.




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September 23, 2012, 06:55:42 AM
 #490

PatrickHarnett isn't your usual fly-by-night scam - he's a confidence man, i.e. the long con.  It's not this 1 deal that went bad either - go take a look at the Kranken fund- https://bitcointalk.org/index.php?topic=100913.0 
It looks like he got investors to buy all of his bad Pirate debt. And somehow, he's already paid them "profits" from an unspecified source. It's getting harder to see Patrick as a victim and easier to see him as a con artist.

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September 23, 2012, 07:52:58 AM
 #491

Micon and co -  why don't you all go after people who are not making any attempts to give people back money ?
What are you peoples hoping to achieve in this thread ?



Good Question.

PatrickHarnett isn't your usual fly-by-night scam - he's a confidence man, i.e. the long con.  It's not this 1 deal that went bad either - go take a look at the Kranken fund- https://bitcointalk.org/index.php?topic=100913.0 

He's also basically said there was no way he would ever pay back starfish principle, even when given until the end of the year. 

It's a plain and simple scam, you should be mad at him instead of me.

Where did this end on year wind down time limit pop up from anyway? Link/quote from Patrick? I hope you didn't pluck that figure out of thin air Micon.

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September 23, 2012, 08:09:16 AM
 #492

you should be mad at him instead of me.

I'm not mad at anyone Smiley

oh well, you guys keep doing whatever it is your doing.. and hopefully you will achieve whatever it is you intend to achieve


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September 23, 2012, 08:30:17 AM
 #493



Where did this end on year wind down time limit pop up from anyway? Link/quote from Patrick? I hope you didn't pluck that figure out of thin air Micon.

I think it was made up.  I have not specified a time frame.
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September 23, 2012, 08:47:25 AM
 #494

PatrickHarnett isn't your usual fly-by-night scam - he's a confidence man, i.e. the long con.  It's not this 1 deal that went bad either - go take a look at the Kranken fund- https://bitcointalk.org/index.php?topic=100913.0  
It looks like he got investors to buy all of his bad Pirate debt. And somehow, he's already paid them "profits" from an unspecified source. It's getting harder to see Patrick as a victim and easier to see him as a con artist.

Indeed, Im beginning to change my mind too. So much for the argument that Patrick is no longer accepting new deposits, he just switched from starfish to  Kraken to get fresh money. Even after Pirate defaulted, it seems he took investors money and turned at least 5000BTC of it in to "undervalued" pirate debt ( probably his own pirate debt), using that "kraken" fund. Note that this fund will not pay its investors more than 2.5%, he gets to keep anything above that.  What a deal!  So if pirate somehow does pay out, Patrick gets to keep almost all the loot, if Pirate doesnt pay up, its his investors that are screwed, because despite "guaranteeing" the face value, it should be clear by now that Patrick is way under water. In essence he just doubled his bet on Pirate and did it with borrowed money.

I guess that also explains why he is still keeping up appearances, just in case Pirate does somehow pay out.

If anyone would like to publish his "newsletters" that contain information he is not posting publicly, Id be very much interested in reading it.  Eg, Goat posted this:
PPT.A, PPT.B, PPT.E 3540 BTC
Payb.tc 1140 BTC
TyGrr Bond.P 170 BTC
https://bitcointalk.org/index.php?topic=100913.msg1189716#msg1189716

Which apparently comes from the news letter and I assume is what Patrick invested his Kraken customer funds in. I can see why he wouldnt want that on a public forum, people might start asking questions.
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September 23, 2012, 09:17:46 AM
 #495

Interesting to see that there are now some minor bets going on.  The three month date is rather arbitrary and I would suggest people don't waste their time/effort/money on it. 

http://betsofbitco.in/item?id=696

This is what I'm talking about - your tone here sounds like you are warning people against betting that you will pay back in the next 3 months, because you know there is no chance of that. 

Sounds like you will stall / pay back small or post as a sock puppet or 2 with low post count no one has ever heard of to say "thanks starfish, interest + principal rec'd fuck the haters"

you guys understand the symbolic bet now?  he is basically saying there is no chance you will get your BTC any time soon.  Certainly not by the end of the year.  If you have principal tied up with this scammer, you should consider it totally lost at this point, save maybe pennies on the dollar Patrick may decide to send out.

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September 23, 2012, 10:20:42 AM
 #496

Which apparently comes from the news letter and I assume is what Patrick invested his Kraken customer funds in. I can see why he wouldnt want that on a public forum, people might start asking questions.

Retards like you and Micon wouldn't know when to shut it.

Mind your own business. LEAVE.

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September 23, 2012, 10:29:09 AM
 #497

Which apparently comes from the news letter and I assume is what Patrick invested his Kraken customer funds in. I can see why he wouldnt want that on a public forum, people might start asking questions.

Retards like you and Micon wouldn't know when to shut it.

Mind your own business. LEAVE.

If I said anything factually incorrect, please point it out.
If you want me to shut up just so that other investors dont realize whats going on before you get (some of) your starfish coins back (possibly from the suckers that bought in to Kraken), then sorry, I cant do you that pleasure.
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September 23, 2012, 11:25:37 AM
 #498

Dude I have invested in Kraken.

I want you to leave because this thread is meant to discuss developments around Starfish BCB and you're constant ponzi mumbelings are distracting (off topic spam). If you want to "warn" investors by all means do so, but please do it somewhere else so I can ignore it. If you do it here it reduces the signal to noise ratio of the thread to me and takes me more time to read the same content.

I formulated my request in this fashion because I asked Micon before and he won't leave. It's like a group of people that are having a discussion and some weird kid jumping in and shouting non-related stuff breaking up the discussion. In that situation the weird kid will be asked to leave and not disturb the discussion. If he doesn't leave in the end someone will make him. On this forum I haven't the power to make you leave. Please do.

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September 23, 2012, 11:47:52 AM
 #499

Dude I have invested in Kraken.

I want you to leave because this thread is meant to discuss developments around Starfish BCB and you're constant ponzi mumbelings are distracting (off topic spam). If you want to "warn" investors by all means do so, but please do it somewhere else so I can ignore it. If you do it here it reduces the signal to noise ratio of the thread to me and takes me more time to read the same content.

I formulated my request in this fashion because I asked Micon before and he won't leave. It's like a group of people that are having a discussion and some weird kid jumping in and shouting non-related stuff breaking up the discussion. In that situation the weird kid will be asked to leave and not disturb the discussion. If he doesn't leave in the end someone will make him. On this forum I haven't the power to make you leave. Please do.

Just click the ignore below our names, put your head in the sand like so many who ignored the warnings about hashking, pirate, obsi etc. You will find out eventually anyway, like when your money is gone.
Good luck with that kraken thing.
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September 23, 2012, 12:32:48 PM
 #500

Ignore does not remove the posts, just the content. When I click "show replies to your posts" you trigger new results with your Ponzi posts. Als people respond to you which makes using the ignore button even more futile.

Just leave. Please.

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