Starfish BCB - Loans and Deposits

[Trance104]

Patrick - Since you are still crediting Starfish accounts with interest, does this mean you plan to pay back all investors, in full (principle + interest) ?

If so when do you estimate you will complete the process? 

Translation: "Patrick's still paying interest, that *really* irritates me. I know, I'll ask a innocent looking question so when he replies I can just retort with my same old stuff I've repeated over and over and over and over and over and over again. P.S. I hope it collapses soon. Won't affect me, but the temporary fun will fill a much needed void in my life."

Fucking lol.

[BorderBits]

Hello,

I was linked here by member Chang Hum who told me you may be able to help me with a 100 BTC loan...

I am willing to provide my name, address, phone number, email, HD color photo of my ID, HD color photo of my Social Security card and references along with video/photo proof that I am the person I am identifying myself to be (i.e. a picture or photo of me holding my identification with a name card proving my forum identity).

Additional details on my loan request are posted here: https://bitcointalk.org/index.php?topic=110905.0

Thank you for your time and consideration!!!

What's wrong with you

Well, when I read the sticky thread at the top of the board (the one labeled "How to Request a Loan" it says to be ready to give my SSN. When trying to borrow money?BTC it is important to be able to establish your identity...

And you really think it's a good idea to give your SSN to a grown man who loves Spongebob Squarepants and who is running an obvious scam?  Holy fuck, this forum breeds the biggest idiots. 

[nimda]

Hello,

I was linked here by member Chang Hum who told me you may be able to help me with a 100 BTC loan...

I am willing to provide my name, address, phone number, email, HD color photo of my ID, HD color photo of my Social Security card and references along with video/photo proof that I am the person I am identifying myself to be (i.e. a picture or photo of me holding my identification with a name card proving my forum identity).

Additional details on my loan request are posted here: https://bitcointalk.org/index.php?topic=110905.0

Thank you for your time and consideration!!!

What's wrong with you

Well, when I read the sticky thread at the top of the board (the one labeled "How to Request a Loan" it says to be ready to give my SSN. When trying to borrow money?BTC it is important to be able to establish your identity...

And you really think it's a good idea to give your SSN to a grown man who loves Spongebob Squarepants and who is running an obvious scam?  Holy fuck, this forum breeds the biggest idiots. 

It does indeed 

[Micon]

Holy crap, did you just see Micon ask a question that was like a non jerk would ask? Someone needs to block his account, it must have been hacked.

hahaha  I see others even translated it for me into how they think I really feel


1)  notice how he didn't respond.  The question is extremely serious too - certainly not a troll or for some other purpose - if Patrick is still crediting his "investors" with interest on a website, it insinuates that he will one day pay the BTC he owes to his account holders back in full.  I want to know what date he plans on completing this by.  I want to know for 2 reasons:

1)  to better manage the expectations of those with BTC tied up in this scam

and

2)  to bet against him paying it back in the timeframe he states

I'm trying to prove that this guy, Patrick, once so beloved by the mark community, has no intention to pay back.  The fact that he is adding interest to a number you see on a screen is yet another stall tactic, and because he didn't plan on having everyone paid back by the end of 2012, that interest is basically something he is promising you sometime after 2013 - I want to know a date, and if you have coins with this guy you should want a date too.  But it seems most are content to just make fun of me.

[PatrickHarnett]

https://bitcointalk.org/index.php?topic=61262.msg981017#msg981017

Updated early as I will be offline tomorrow.  Weekly interest and other payments have been queued.  

Two fixes this week -
1: the interest calculation as pointed out by Dooglus for accounts in process of withdrawal is corrected.
2: the payments on 14Sept were not correctly picked up in the balances table (understated by approx 48BTC) - found by a different client.

[Micon]

https://bitcointalk.org/index.php?topic=61262.msg981017#msg981017

Updated early as I will be offline tomorrow.  Weekly interest and other payments have been queued.  

Two fixes this week -
1: the interest calculation as pointed out by Dooglus for accounts in process of withdrawal is corrected.
2: the payments on 14Sept were not correctly picked up in the balances table (understated by approx 48BTC).

[in most respectful internet voice]

PatrickHarnett - when do you believe you will complete the process of repaying all of your investors in full?  please give your best estimate of the date.

[Buffer Overflow]

1)  to better manage the expectations of those with BTC tied up in this scam

and

2)  to bet against him paying it back in the timeframe he states

I think you need to get out the house a bit more. What's wrong with you? Get a life.

[Micon]

1)  to better manage the expectations of those with BTC tied up in this scam

and

2)  to bet against him paying it back in the timeframe he states

I think you need to get out the house a bit more. What's wrong with you? Get a life.

again, off topic, personal attack so again I'll re-iterate the question so it isn't lost here:

PatrickHarnett - when do you believe you will complete the process of repaying all of your investors in full?  please give your best estimate of the date.

[PatrickHarnett]

It's actually in the thread and was stated ages ago. 

Customers are free to contact me directly if they wish to discuss their accounts and payments - others can read the thread.

[memvola]

I'm trying to prove that this guy, Patrick, once so beloved by the mark community, has no intention to pay back.

He is paying back, and in a very acceptable rate. And even if he weren't, you won't do anything to prove it other than talk, as proven in Vescudero's thread, if not apparent elsewhere. You don't even know that he's paying back and at what rate because you even haven't spoken to depositors who submitted withdrawal requests. You don't need to, because it won't change anything for you. Hell, Victor proved you wrong about every single one of your accusations, and you are still accusing him of planning to run a scam, even after he stated he is no longer interested in the deposit taking business.

Look, you found a good publicity opportunity with BTCS&T. You noticed the uproar, the 5000 BTC bet of Vandroiy and all the warnings of prominent members and thought it was a slam dunk. Good for you. Why ruin it now? This is too manic.

[Micon]

It's actually in the thread and was stated ages ago. 

Customers are free to contact me directly if they wish to discuss their accounts and payments - others can read the thread.

I understand you are dodging the question, and you have never accurately stated in this thread when you expect to have everyone paid back in full. 

no date ever given.

[mb300sd]

Received a large payment today, ~20% of my deposit. I'm confident Patrick will pay the rest back in an acceptable timeframe.

[PatrickHarnett]

Received a large payment today, ~20% of my deposit. I'm confident Patrick will pay the rest back in an acceptable timeframe.

How can Micon "prove" I have "no intention of paying back" if you keep revealing that I've sent you coins.

[Buffer Overflow]

Received a large payment today, ~20% of my deposit. I'm confident Patrick will pay the rest back in an acceptable timeframe.

How can Micon "prove" I have "no intention of paying back" if you keep revealing that I've sent you coins.

Keep on paying the interest & repayments Patrick. It's so glaringly obvious it's irritating Micon. He hates it. He wants it fail. He wants it to be bad as possible. All the time cowering behind this thin veil of ' I'm not the law, but I represent justice' show.

As Micon isn't a depositor of yours (though you could deposit some coins and become one Micon), to irritate him more I would just ignore every post of his.

Every interest repayment irritates him that fraction more, forcing him to pretend it's not irritating him. While we all sit back and laugh at his expense. LOL

Hey Micon, got an interest repayment last night. Doesn't bother you though does it.

[gsan]

Received a large payment today, ~20% of my deposit. I'm confident Patrick will pay the rest back in an acceptable timeframe.

Same here. I submitted my withdrawal request two weeks ago, and this is the second chunk I received. I'm also still receiving interest. Patrick's situation is clear, and I'm content with how he's handling things.

[dooglus]

I want to know what date he plans on completing this by.  I want to know for 2 reasons:

I imagine this depends on how many of his creditors default on their debts to him.

I just today received 20% of my principal back from Patrick, and over the last 4 weeks have received a total of almost 40% back.  I don't see why he would continue paying back his lenders if he was running a scam.  It looks to me like Patrick is trying his best to repay what he owes when he can.

[Chang Hum]

I've trolled this thread a bit, I must say looking at the way the deposit lists going down I'm starting to think maybe crazy money loosing business but not a scam?

[JoelKatz]

I've trolled this thread a bit, I must say looking at the way the deposit lists going down I'm starting to think maybe crazy money loosing business but not a scam?

It can be very hard to tell the difference. It depends how much of the payback deficit is caused by genuine investment and operating losses. His investors had substantially the same information he did, so it's not unreasonable for them to bear the losses. That is, after all, the purpose of investors. (And I think we all understand that the line between a loan and an investment is thoroughly blurred at interest rates this high. It was clear he was loaning the funds out and clear that there's always a risk of bad loans.)

[memvola]

And I think we all understand that the line between a loan and an investment is thoroughly blurred at interest rates this high. It was clear he was loaning the funds out and clear that there's always a risk of bad loans.

I think it depends on the agreement between the loaner and BCB. The fact that there is high risk that one side of the contract might default doesn't make the line more blurry. IMHO.

[Micon]

I've trolled this thread a bit, I must say looking at the way the deposit lists going down I'm starting to think maybe crazy money loosing business but not a scam?

It can be very hard to tell the difference. It depends how much of the payback deficit is caused by genuine investment and operating losses. His investors had substantially the same information he did, so it's not unreasonable for them to bear the losses. That is, after all, the purpose of investors. (And I think we all understand that the line between a loan and an investment is thoroughly blurred at interest rates this high. It was clear he was loaning the funds out and clear that there's always a risk of bad loans.)

Joel,

It seems to me the refusal to answer the question "when will everyone be paid back in full" is directly related to "I'm still paying you guys interest"

he is adding debt on top of debt he cannot pay any time soon, if ever.