Starfish BCB - Loans and Deposits

[JoelKatz]

I hope it's near it's end.

The Panda says, "no."

[Micon]

I have 100% faith in Mr. Starr

I have 100% faith that OP is a scammer and is running yet another Ponzi, borrowing an ever increasing about of BTC at extremely high interest rates.

I also wonder what strings Patrick is trying to pull behind the scenes with his wife and other shill-type accounts like this one with 77 posts.  These may even be real people, maybe even real investors in his scam - just blindly throwing support to him, just like BurtW or Payb.tc did for Pirate.

Wash, Rinse, Repeat the Pirate scam. 

Luckily it seems like through the hard work of users like Joel Katz we are slowly but surely killing the culture of HYIP scams on these boards.  A net positive for the entire community in many ways.

Yes yes you are incredibly awesome all bow before um him whatever his name is that seems to want to derail every thread I read and repeat himself often enough that people might start like to see his posts. Yeah hashking is doing shady stuff, let the dead horse rest in peace already. Your pontification is moving into forum defication, its getting old fast.

1)  there are a gaggle, nay, a murder of shills that gather in each thread about debunking these scams

2)  PattrickHarnet has specifically fostered a group to get in this thread and others saying "I trust PatrickHarnett"  - when I see those I will be there with the "I don't trust PatrickHarnet"

[Micon]

The beloved PatrickHarnett pulled yet another classic scammer move, deleting your OP to cover up the month-over-month lies he used to post (something Pirate did too) why delete the financials that this community praised you for posting, saying that you were so open and honest about your borrowing program?

(any chance Joel Katz or Dooglus has the full list before he deleted?)

Here was the July 2012 claims, which are going to sorely contradict the current financial health of this scam:

July 2012 activity (updated 1 August 2012)
 - 14 loans repaid  (approx 7800BTC)
 - 32 loans current (approx 8800 BTC)
 - 66 deposits (total approx 15400)
 - deposits repaid during the month (at call) >3600

Total liabilities (Deposits + other commitments) = 19,700
Total assets (cash, BTC, investments) = 37,100
Net assets 17,400BTC

This deletion mixed with the line of unpaid cashouts + all of the users staying silent or that haven't requested a cashout means that yet again, the writing is on the wall...  yet again, another similar scam, and yet again another crop of shills, and yet again distributed pain to be felt in the BTC lending community.  

Micon, leave Patrick alone. He is one of the honest ones - impeccably so - and has survived this crisis far better than most in the bitcoin lending world. If you want to help out, then do something that is actually useful instead of trolling.

100% wrong.  He is one of the scammers, running a similar high interest borrowing scam just like the others. 

Survived the crisis?  100% wrong:  he owes withdraw obligations he cannot meet (because it's a standard scam, and remember I'm batting 1000% with labeling these as such)  HINT:  he's never going to meet them, start the process of the long stall for this scam too. 

BrightAnarchist - you quote the evidence, but can you make any statement about the OP edits, deleting the month-over-month fiscal data?  (data which I believe are total fabrications, mind you) still just blind faith with no reasoning?

I expect a full apology when this scam goes like the others I have predicted before they failed.

[BinaryMage]

100% wrong.  He is one of the scammers, running a similar high interest borrowing scam just like the others. 

Survived the crisis?  100% wrong:  he owes withdraw obligations he cannot meet (because it's a standard scam, and remember I'm batting 1000% with labeling these as such)  HINT:  he's never going to meet them, start the process of the long stall for this scam too. 

BrightAnarchist - you quote the evidence, but can you make any statement about the OP edits, deleting the month-over-month fiscal data?  (data which I believe are total fabrications, mind you) still just blind faith with no reasoning?

I expect a full apology when this scam goes like the others I have predicted before they failed.

If you didn't believe the data, what does the deletion of it change?

Your logic must be beyond my comprehension.

[jasinlee]

The beloved PatrickHarnett pulled yet another classic scammer move, deleting your OP to cover up the month-over-month lies he used to post (something Pirate did too) why delete the financials that this community praised you for posting, saying that you were so open and honest about your borrowing program?

(any chance Joel Katz or Dooglus has the full list before he deleted?)

Here was the July 2012 claims, which are going to sorely contradict the current financial health of this scam:

July 2012 activity (updated 1 August 2012)
 - 14 loans repaid  (approx 7800BTC)
 - 32 loans current (approx 8800 BTC)
 - 66 deposits (total approx 15400)
 - deposits repaid during the month (at call) >3600

Total liabilities (Deposits + other commitments) = 19,700
Total assets (cash, BTC, investments) = 37,100
Net assets 17,400BTC

This deletion mixed with the line of unpaid cashouts + all of the users staying silent or that haven't requested a cashout means that yet again, the writing is on the wall...  yet again, another similar scam, and yet again another crop of shills, and yet again distributed pain to be felt in the BTC lending community.  

Micon, leave Patrick alone. He is one of the honest ones - impeccably so - and has survived this crisis far better than most in the bitcoin lending world. If you want to help out, then do something that is actually useful instead of trolling.

100% wrong.  He is one of the scammers, running a similar high interest borrowing scam just like the others. 

Survived the crisis?  100% wrong:  he owes withdraw obligations he cannot meet (because it's a standard scam, and remember I'm batting 1000% with labeling these as such)  HINT:  he's never going to meet them, start the process of the long stall for this scam too. 

BrightAnarchist - you quote the evidence, but can you make any statement about the OP edits, deleting the month-over-month fiscal data?  (data which I believe are total fabrications, mind you) still just blind faith with no reasoning?

I expect a full apology when this scam goes like the others I have predicted before they failed.

Hey we get it already, you think he runs a scam. WE ALL UNDERSTAND THAT, I am not even defending patrick right now. Just stfu and gtfo already, you have heard the phrase before saying, "Winning a argument on the internet is like being the smartest retard." Congratulations, you have won this argument already, now stfu.

[JoelKatz]

100% wrong.  He is one of the scammers, running a similar high interest borrowing scam just like the others.  

Survived the crisis?  100% wrong:  he owes withdraw obligations he cannot meet (because it's a standard scam, and remember I'm batting 1000% with labeling these as such)  HINT:  he's never going to meet them, start the process of the long stall for this scam too.  

BrightAnarchist - you quote the evidence, but can you make any statement about the OP edits, deleting the month-over-month fiscal data?  (data which I believe are total fabrications, mind you) still just blind faith with no reasoning?

I expect a full apology when this scam goes like the others I have predicted before they failed.

If you didn't believe the data, what does the deletion of it change?

It shows that the person who posted it doesn't want to be committed to it, suggesting that it was falsified.

Your logic must be beyond my comprehension.

I'll let you work out what the consequences of that are.

Hey we get it already, you think he runs a scam. WE ALL UNDERSTAND THAT, I am not even defending patrick right now. Just stfu and gtfo already, you have heard the phrase before saying, "Winning a argument on the internet is like being the smartest retard." Congratulations, you have won this argument already, now stfu.

If you think he is correct, why is he the one you're asking to shut up?

I'm not in full agreement with him about Patrick and his last post changed my view a bit. Why isn't he entitled to make his case?

[BinaryMage]

If you didn't believe the data, what does the deletion of it change?

It shows that the person who posted it doesn't want to be committed to it, suggesting that it was falsified.

Didn't, as in did not - past tense.

Your logic must be beyond my comprehension.

I'll let you work out what the consequences of that are.

Luckily, I was just being sarcastic.

[BorderBits]

Haven't read much of the thread. . .  Has the grown man who is a fan of children's TV shows and who rates every scam AAA+++ wound down his own investment program scam yet? 

[jasinlee]

100% wrong.  He is one of the scammers, running a similar high interest borrowing scam just like the others.  

Survived the crisis?  100% wrong:  he owes withdraw obligations he cannot meet (because it's a standard scam, and remember I'm batting 1000% with labeling these as such)  HINT:  he's never going to meet them, start the process of the long stall for this scam too.  

BrightAnarchist - you quote the evidence, but can you make any statement about the OP edits, deleting the month-over-month fiscal data?  (data which I believe are total fabrications, mind you) still just blind faith with no reasoning?

I expect a full apology when this scam goes like the others I have predicted before they failed.

If you didn't believe the data, what does the deletion of it change?

It shows that the person who posted it doesn't want to be committed to it, suggesting that it was falsified.

Your logic must be beyond my comprehension.

I'll let you work out what the consequences of that are.

Hey we get it already, you think he runs a scam. WE ALL UNDERSTAND THAT, I am not even defending patrick right now. Just stfu and gtfo already, you have heard the phrase before saying, "Winning a argument on the internet is like being the smartest retard." Congratulations, you have won this argument already, now stfu.

If you think he is correct, why is he the one you're asking to shut up?

I'm not in full agreement with him about Patrick and his last post changed my view a bit. Why isn't he entitled to make his case?

I do think he has made his case. And the horse is very very thoroughly dead. It in no way can help the community when a new person comes to the forums and every thread that mentions prominant characters on the forum suddenly gets a response explaining how that person is scamming.....its like cyber bullying/stalking. I don't agree with his tactics. Make your case and hope people listen. The I told you so mentality has just gotten old.

[gene]

It in no way can help the community when a new person comes to the forums and every thread that mentions prominant characters on the forum suddenly gets a response explaining how that person is scamming

I think it helps quite a bit. For one thing, it means that there are some honest people remaining.

Haven't read much of the thread. . .  Has the grown man who is a fan of children's TV shows and who rates every scam AAA+++ wound down his own investment program scam yet? 

Maybe it's the booze, but his latest posts seem to grant that some skullduggery occured (but the fault of someone else, of course). But he's holding fast! There has been some purging of records, too. A nice touch -- very Arthur Andersen.

Strangely, his wife has disappeared. A shame really. I do love me a good shillin' 4 times a day.

[Entropy-uc]

Haven't read much of the thread. . .  Has the grown man who is a fan of children's TV shows and who rates every scam AAA+++ wound down his own investment program scam yet?  

Give Patrick some credit. Representing himself as SpongeBob's idiot friend shows a remarkable level of self awareness and honesty.  

[Bjork]

I respect what Micon is trying to do and I do know that he means what he says.  But I think he is wrong on this one. 

There are a couple different views you could have about this situation
1. Patrick was running a ponzi that is collapsing
2. Patrick is no longer solvent because his debtors have defaulted (and is suffering a bank run)
3. Patrick is solvent but is suffering a bank run

I highly doubt that case 1 is true... Why send out (large) partial repayments this far into the "bank run"?

Time will tell whether 2 or 3 is the case, but I suspect that all of the principle will be returned. 

[finkleshnorts]

I respect what Micon is trying to do and I do know that he means what he says.  But I think he is wrong on this one. 

There are a couple different views you could have about this situation
1. Patrick was running a ponzi that is collapsing
2. Patrick is no longer solvent because his debtors have defaulted (and is suffering a bank run)
3. Patrick is solvent but is suffering a bank run

I highly doubt that case 1 is true... Why send out (large) partial repayments this far into the "bank run"?

Time will tell whether 2 or 3 is the case, but I suspect that all of the principle will be returned. 

If case 3 is true, then Patrick is lying. Which of course I don't think is the case.

It's no. 2 (going by what he has said).

[JoelKatz]

I do think he has made his case. And the horse is very very thoroughly dead. It in no way can help the community when a new person comes to the forums and every thread that mentions prominant characters on the forum suddenly gets a response explaining how that person is scamming.....its like cyber bullying/stalking. I don't agree with his tactics. Make your case and hope people listen. The I told you so mentality has just gotten old.

Again, I completely disagree. I think it's a massive help to to community if scams and bad investments are met with consistent and vocal opposition from as many people as possible. And I don't agree about the "I told you so" mentality. That's what it takes to get people to listen next time. If the problem was already solved, you'd have a point. But it unfortunately absolutely is not.

[jasinlee]

I think the link at the top of the forum pointing out scams is warning enough. I dont have anything invested with any of them. But my point is specifically to micon, I could do the same thing, repeat myself in each thread all over the site. And for example your replys joel are not personal attacks, they are well thought out replies with questions that would (if answered) expand our knowledge of an issue. This is the the case for his replies, most are personal attacks on the person, and with a tag line, see I predicted it it was a ponzi! Nanananana Toldja so toldja so. Well I think its childish.

[dooglus]

The beloved PatrickHarnett pulled yet another classic scammer move, deleting your OP to cover up the month-over-month lies he used to post (something Pirate did too) why delete the financials that this community praised you for posting, saying that you were so open and honest about your borrowing program?

(any chance Joel Katz or Dooglus has the full list before he deleted?)

I'm not sure what list you're asking for, but I don't have a copy of any of Patrick's posts.  I tend to trust Patrick and don't see any reason to be screaming "scammer" all over his thread.

[PatrickHarnett]

I deleted the OP material because I was continuing to get requests for accounts and being asked to take deposits.  As it was quite clear in this thread that I'm shutting things down, having mis-information available seemed counter intuitive.  I understand the "evidence" will be construed anyway the trolls like, but that is not my concern or interest.

I will be doing a pro-rata payment today based on a loan that was repaid.  I have received 20 requests for withdrawals this week, so they will be pooled as advised.  Also, I don't intend to do daily payments, it will align with the weekly interest payments that I have been running on Fridays.

[eroxors]

I deleted the OP material because I was continuing to get requests for accounts and being asked to take deposits.  As it was quite clear in this thread that I'm shutting things down, having mis-information available seemed counter intuitive.  I understand the "evidence" will be construed anyway the trolls like, but that is not my concern or interest.

I will be doing a pro-rata payment today based on a loan that was repaid.  I have received 20 requests for withdrawals this week, so they will be pooled as advised.  Also, I don't intend to do daily payments, it will align with the weekly interest payments that I have been running on Fridays.

Thanks Patrick!

[PatrickHarnett]

In other news, I've spent several hours today working with someone that borrowed from me some months ago, working on getting back around 800 coins.  What is pissing me off is that while we are trying to work out a solution so I can get more coins back to people quickly, a "respected" member of the forum is trying to get them to default by stealing/devaluing an asset they hold.

[bitlane]

Well, that rules me out. Thankfully you said 'respected member'......

It's nice to know where I stand at times like this