My Thoughts on the Pirate Business

[Hrumph]

Hi,
I really wanted to post this in the services forum but as a newbie I cannot  .

I don't really like the idea of standing up and declaiming like this but I find some of the talk concerning Pirate and his investment fund to be objectionable. What do I find objectionable?

I find the threats or at (least suggestions) of violence to be objectionable. Not only do I believe these threats to be illegal, I also consider them immoral. Likewise the suggestions of involving his family in the retribution I find *doubly* objectionable. For those of you who consider violence to be acceptable, please consider that you may be harming the reputation of bitcoin itself, potentially hitting us *all* in the pocketbook with your careless talking.

This is what I think should happen now. Pirate should surrender his books (and perhaps the assets of his business fund) to a third party. The third party can examine the books to make sure that there was no Ponzi scheme or other unsavoury business practices. If all that Pirate did was fly too close to the sun through risky dealings then, I'm sorry to say, the investors will have to suck it up. Both you and Pirate took risks. He made risky transactions; *the investors* made a risky investment decision. Hopefully both parties will have learned a valuable lesson, and the investors will need to forgive, as hard as that may be. OTO, if BTCE turns out to be a Ponzi scheme (or something like it) then the only appropriate response would be legal proceedings and If its not possible to press charges or sue over bitcoin dealings then, you'll just just have to resort to public shaming.

[1715162344]

1715162344

[1715162344]

1715162344

[1715162344]

1715162344

[1715162344]

1715162344

[1715162344]

1715162344

[Stephen Gornick]

I find the threats or at (least suggestions) of violence to be objectionable. Not only do I believe these threats to be illegal, I also consider them immoral. Likewise the suggestions of involving his family in the retribution I find *doubly* objectionable.

I concur.

Do you have the ability to "report to moderator" (link in each post) for any posts or replies that you find objectionable?  I've reported a few myself.

[CoinCidental]

whether you agree with it being right or wrong

stealing nearly 6 million dollars worth of assets is enough to put anyones family in danger

pirate should have thought about about the implications this would have and if he doesnt pay it back its likely his family maybe  punished on his behalf

I would have evacuated my family already if i was him and i havent even invested

people break your legs over a couple of grand ,i think he should think carefully about returning at least the principal deposits  if not the  accumulated interest

I know i would .....

[VeeMiner]

so what exactly happened with the Pirate? (I know there was some kind of pirate bank) it all went down to hell or what?

edit: ok, I got it now, I guess there was a nice big ponzi scheme going on. The only thing I don't understand is why people trusted him.

[Bitcoin Oz]

Hi,
I really wanted to post this in the services forum but as a newbie I cannot  .

I don't really like the idea of standing up and declaiming like this but I find some of the talk concerning Pirate and his investment fund to be objectionable. What do I find objectionable?

I find the threats or at (least suggestions) of violence to be objectionable. Not only do I believe these threats to be illegal, I also consider them immoral. Likewise the suggestions of involving his family in the retribution I find *doubly* objectionable. For those of you who consider violence to be acceptable, please consider that you may be harming the reputation of bitcoin itself, potentially hitting us *all* in the pocketbook with your careless talking.

This is what I think should happen now. Pirate should surrender his books (and perhaps the assets of his business fund) to a third party. The third party can examine the books to make sure that there was no Ponzi scheme or other unsavoury business practices. If all that Pirate did was fly too close to the sun through risky dealings then, I'm sorry to say, the investors will have to suck it up. Both you and Pirate took risks. He made risky transactions; *the investors* made a risky investment decision. Hopefully both parties will have learned a valuable lesson, and the investors will need to forgive, as hard as that may be. OTO, if BTCE turns out to be a Ponzi scheme (or something like it) then the only appropriate response would be legal proceedings and If its not possible to press charges or sue over bitcoin dealings then, you'll just just have to resort to public shaming.

I find all these sockpuppet accounts showing up to be objectionable.

[fairgo]

PUBLIC SHAMING....I vote for Public Shaming

[DanielVG]

PUBLIC SHAMING....I vote for Public Shaming

[DeathAndTaxes]

I find it "interesting" that this is the third or fourth brand new account created in order to tell veterans how objectionable they are being.  Most people who find objectionable stuff on a forum simply never create an account.

Hrumph Pirate how about you spend more time repaying your creditors (at least partially) and less time creating new accounts.

TL/DR: obvious sockpuppet is obvious.

[LoupGaroux]

Hey New Guy!

Why not make good on all the losses yourself and stand firm in your righteous position? Nobody has a right to be grumpy because they just got fleeced by a master crimninal, and you could make the world a better place by covering those terrible mistakes yourself.

Otherwise, nobody needs to hear your whining. If you haven't been hurt by this latest round of fraud, you really don't get to have a voice in the matter, so while your new shiny personality is a wonderful addition to our little community, your morality is founded on incomplete education.

[Stephen Gornick]

Otherwise, nobody needs to hear your whining. If you haven't been hurt by this latest round of fraud, you really don't get to have a voice in the matter,

Bullshit.  If someone is making what I perceive as to be a threat of harm, I do have a voice in the matter.  This is a community and if someone in this community is threatening physical harm to another, I have the right to, ... no, I have the obligation to speak out against that.

We are better than that.

[kjj]

I find it "interesting" that this is the third or fourth brand new account created in order to tell veterans how objectionable they are being.  Most people who find objectionable stuff on a forum simply never create an account.

Hrumph Pirate how about you spend more time repaying your creditors (at least partially) and less time creating new accounts.

TL/DR: obvious sockpuppet is obvious.

Meh, I've registered on forums and news site comment sections over less before.

And I have to agree with the original post, sockpuppet or not, threats of violence aren't cool.  On the other hand, I consider internet forum threats to be about as serious as a drunk guy sitting at the bar telling his beer that "I'll show them".

[VeeMiner]

my thoughts on pirate business:

[CoinCidental]

my thoughts on pirate business:

Is it just me or is there a shitload of these new people who joined like "yesterday"
being very vocal about the "stupidity of investors "  and pirate should not be publicly
identified or have his life history posted up ?

seems like  these "new people " are very opinionated about the BTCST and potential outcome  that may land on pirate .....

[Matthew N. Wright]

my thoughts on pirate business:

Is it just me or is there a shitload of these new people who joined like "yesterday"
being very vocal about the "stupidity of investors "  and pirate should not be publicly
identified or have his life history posted up ?

seems like  these "new people " are very opinionated about the BTCST and potential outcome  that may land on pirate .....

+1, so many new people seem to have come here to do nothing but talk about Pirate. Possible, but unlikely.

[BadBear]

Report threats of violence as you see them, they aren't allowed and I will remove them, and have banned people for it in the past (repeat offenders who went against my advice).

[VeeMiner]

my thoughts on pirate business:

Is it just me or is there a shitload of these new people who joined like "yesterday"
being very vocal about the "stupidity of investors "  and pirate should not be publicly
identified or have his life history posted up ?

seems like  these "new people " are very opinionated about the BTCST and potential outcome  that may land on pirate .....

+1, so many new people seem to have come here to do nothing but talk about Pirate. Possible, but unlikely.

well, thank you but I have nothing to do with him whatsoever. I have not invested any money in the pirate venture and I wouldn't. I just thought this picture was funny so I decided to post it here... Anyway, I joined the bitcointalk to be able to write my opinion about the ASIC, but I'm stuck in this newbie section so I have to write some posts so it looks like I am an active member of the community

[JoelKatz]

This is what I think should happen now. Pirate should surrender his books (and perhaps the assets of his business fund) to a third party. The third party can examine the books to make sure that there was no Ponzi scheme or other unsavoury business practices. ....

I'm curious if you would indulge me in a small favor. Would you, please, estimate for me what you think the odds are of this happening? I'd like to gauge the extent to which you are connected with reality so that I can tune my responses accordingly.

[muyuu]

Too afraid of Pirate to post with your regular nick?

[Snapman]

This is what I think should happen now. Pirate should surrender his books (and perhaps the assets of his business fund) to a third party. The third party can examine the books to make sure that there was no Ponzi scheme or other unsavoury business practices. ....

I'm curious if you would indulge me in a small favor. Would you, please, estimate for me what you think the odds are of this happening? I'd like to gauge the extent to which you are connected with reality so that I can tune my responses accordingly.

The man speaks the truth, think about it, what kinda criminal would actually admit his wrong doings openly in a public forum type stage, not only what he did but how he did it....
Obviously he does his job well as he was able to pull off a ponzi scheme of this magnitude...

[Vanity]

The only thing I don't understand is why people trusted him.

Because people are blinded by greed. This kind of ponzi business is everyday stuff in the world of e-currencies, so stuff like this getting into Bitcoin was merely about when - not if. And despite people losing their money, they'll keep on trying to "make back their investments" in any and all of the new programs, thus enabling the programs to live and prosper.