Reserve Fund has been paid out. This is now closed.

[squirrelman]

Deposit of 50btc just sent.

[MrTeal]

It's been about a month now, and the reserve fund has been at 1% of deposits for the whole period. I know you don't want to specify a timeline for moving to a higher number, but right now these are basically uncovered loans. Is there any further news on plans to cover more than 1% of deposits in case Pirate defaults?

[OgNasty]

It's been about a month now, and the reserve fund has been at 1% of deposits for the whole period. I know you don't want to specify a timeline for moving to a higher number, but right now these are basically uncovered loans. Is there any further news on plans to cover more than 1% of deposits in case Pirate defaults?

Deposits have been rising and I place the full deposit in my BS&T account, so it is not like I take 1% from each deposit and put it in the reserve fund.  After 1 month, from the very first deposit, I've built a 30 BTC reserve.  That amount will continue to rise and is not pegged to a %.  Now that we have a 2000+ BTC balance, that will enable the reserve fund to grow more quickly.  I will admit I have been focusing more on providing a higher base rate and interest rate loyalty rewards than building the reserve fund.

[drlatino999]

I'm accepting new deposits through Monday to receive a 5% interest payment on June 1st if anyone is interested.

Pm'd

[OgNasty]

UPDATE:

• Reserve Account has been increased to 50 BTC.
• Deposits are now allowed at any time during the month.
• Reinvesting interest is now allowed, PM me to signup.

[OgNasty]

MONTHLY PAYMENTS SENT:

Interest payments have been sent to depositors for the month of May.

Code:

Depositor	Rate	Reward	Amount	Payment	Address
Anonymous №1	10%		100.00	10.00	1AYoshhS6VLYNWRNX5P6EWxUcrKLr16KLB
Wekkel - 	10%		100.00	10.00	1LUPYsMBBAX937a16cTzMXMbnGv6pEfBPt
miscreanity	10%		10.00	1.00	1LdpVFiqFX7ymHp6AMhrNq8J9PQ5ZSLoeo
Anonymous №2	10%		50.00	5.00	18fDCUZ9wvcrMFfQogCHar3FE7E5tu95E2
exahash - 	10%	1%	250.00	27.50	1KH1wM55KJe422Uun66T7RC176MLZyKbRn
chunglam - 	10%	1%	250.00	27.50	1AMFex7h8b8TBD5WewZdHTqSQjMG8fiSsF
geodude - 	10%		10.00	1.00	1MJK5LNAdqhyCEeqAnpMjckKaFr8NXtTGu
Anonymous №4	10%	1%	700.00	77.00	1mCJ9UpGPE8vok8StdobELZrW643tYFiF
Sturmvogel	10%		50.00	5.00	19qp1bSoi3LqQBSUVomGXGx3i6XfaHuxqj
nathantrumpet	10%		35.00	3.50	17foq9mtyFRK13cKc3aZ81SKKsZ7PSLPHN
drlatino999	10%		100.00	10.00	143epJQzwB5rJCWpQssave4UPuKL75EERi
Jonny Heggheim	10%		30.00	3.00	1MRnQVysnF9t91i5UPHsApFh4vRCvBwXux
iron77 - 	10%		300.00	30.00	195TbM1SzZA9HzSaRDeKBiRLf8HzNqkGww
Tannke - 	10%		400.00	40.00	INTEREST ROLLOVER PLAN
Timbo925	10%		20.00	2.00	1AYWHj7BNDwfvCpQ4rqM3BhMipmZUe3pUj
squirrelman	10%		50.00	5.00	INTEREST ROLLOVER PLAN
					
Mid-Month Deposits:					
drlatino999	5%		40.00	2.00	143epJQzwB5rJCWpQssave4UPuKL75EERi
Uncle Scrooge	5%		250.00	12.50	INTEREST ROLLOVER PLAN
Anonymous №5	5%		100.00	5.00	1GyocUADnTd5aZRRrNLGFTVXNiyaacpPQm
Buckwheet	5%		50.00	2.50	17Ge71XYfHKFC7Lzkq7fs5RwerPEEaySqR
CecilNiosaki	3%		75.00	2.25	INTEREST ROLLOVER PLAN

[Wekkel]

MONTHLY PAYMENTS SENT:

Interest payments have been sent to depositors for the month of May.

Hi OgNasty, I kindly ask you to return the principal sum, because I need it for other purposes.
I look forward to receive your confirmation.

Regards,
Wekkel

[nathantrumpet]

I contacted OgNasty and asked to withdraw my Bitcoins from this fund. He responded in a few hours and sent the entire amount to my interest payment address. Thanks for a smooth process.

[miscreanity]

Requested withdrawal and it was acknowledged within minutes. Along with six confirmations, the entire duration from request to receipt was barely an hour.

I wonder if he sleeps less than Pirate?

[OgNasty]

BASE RATE INCREASE:

In order to encourage new deposits and reward all depositors for the growth of this program, I would like to announce another increase to the base rate on deposits.  As long as there are 2000+ Total BTC Held in Deposits listed on this thread, the base rate will be increased from the original 8% to 12% for all depositors.

The base rate may be lowered back to 8% if Total BTC Held in Deposits fall below 2000 BTC.

[OgNasty]

MONTHLY PAYMENTS SENT:

Interest payments have been sent to depositors for the month of June.

Code:

Account Opened	Depositor	Rate	Reward	Amount	Payment	Address
4/7/2012	Anonymous №1	10%		100.00	10.00	1AYoshhS6VLYNWRNX5P6EWxUcrKLr16KLB
4/10/2012	Anonymous №2	10%		50.00	5.00	18fDCUZ9wvcrMFfQogCHar3FE7E5tu95E2
4/11/2012	exahash -	10%	2%	250.00	30.00	1KH1wM55KJe422Uun66T7RC176MLZyKbRn
4/11/2012	geodude -	10%		10.00	1.00	1MJK5LNAdqhyCEeqAnpMjckKaFr8NXtTGu
4/13/2012	Anonymous №4	10%	3%	700.00	91.00	1mCJ9UpGPE8vok8StdobELZrW643tYFiF
5/1/2012	Jonny Heggheim	10%		30.00	3.00	1MRnQVysnF9t91i5UPHsApFh4vRCvBwXux
5/3/2012	Tannke - 	10%	1%	440.00	48.40	INTEREST ROLLOVER PLAN
5/6/2012	squirrelman	10%		65.00	6.50	INTEREST ROLLOVER PLAN
5/12/2012	Uncle Scrooge	10%	1%	487.50	53.63	INTEREST ROLLOVER PLAN
5/21/2012	CecilNiosaki	10%	1%	252.25	27.75	INTEREST ROLLOVER PLAN
						
Mid-Month Deposits:						
6/7/2012	Tannke - 	8%		120.00	9.60	INTEREST ROLLOVER PLAN - ADD ON
6/11/2012	Uncle Scrooge	6%		12.50	0.75	INTEREST ROLLOVER PLAN - ADD ON
6/18/2012	cst - - -	4%		11.00	0.44	INTEREST ROLLOVER PLAN
6/19/2012	BitLoan 	3%		10.00	0.30	1HshtPD1bSqH4KD9czH2fiNMTJxC6XsxTh
6/30/2012	notawake 	0%		100.00	0.00	INTEREST ROLLOVER PLAN

[squirrelman]

OgNasty was very helpful setting up my account, and when I needed to withdraw he took care of me right away.  Thanks so much for the great service you're running.

[OgNasty]

There will be some adjustments to adapt to the new lower rates at Bitcoin Savings & Trust.  

https://bitcointalk.org/index.php?topic=90327.msg1004085#msg1004085

We have also dipped below the 2000 BTC requirement and the interest rate has now dropped back down to 8% monthly.   

[OgNasty]

UPDATE:

• Reserve Account has been increased to 65 BTC.
• Base rate will remain at 8% after the BS&T rate reduction.
• Rewards will be limited to 2% after the BS&T rate reduction.

[Vladimir]

WHAT ARE THE RISKS INVOLVED?
There are always risks.  The major risks are that pirateat40 or myself will disappear with your funds.  A secondary risk is that BS&T stops paying interest.

  priceless!

[Micon]

OgNasty is running an obvious ponzi Scheme.


Added to Micon's list of obvious ponzi schemes you should never send btc to or withdraw all you can ASAP

https://bitcointalk.org/index.php?topic=94900.0

[Fray]

OgNasty is running an obvious ponzi Scheme.


Added to Micon's list of obvious ponzi schemes you should never send btc to or withdraw all you can ASAP

https://bitcointalk.org/index.php?topic=94900.0

Even worse, it's a possible ponzi with low payout relative to others.

[OgNasty]

I'm awaiting a withdrawal from BS&T.  All payments/withdrawals will be made as soon as this transfer is completed.

[Micon]

I'm awaiting a withdrawal from BS&T.  All payments/withdrawals will be made as soon as this transfer is completed.

a full withdraw to close this ponzi?

[unclescrooge]

I'm awaiting a withdrawal from BS&T.  All payments/withdrawals will be made as soon as this transfer is completed.

a full withdraw to close this ponzi?

If Pirate still operates in 2 weeks, will you stop talking about ponzi?