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Author Topic: Can I put your BTC in my Pirate account ? I'll pay you 20%  (Read 1758 times)
bitlane
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May 04, 2012, 04:27:04 AM
 #1

Can I have some of your BTC to put into my Pirate account ?

<EDIT>
I will revisit this in the near future. See here:
https://bitcointalk.org/index.php?topic=79295.msg882113#msg882113




My 'Trust' History....
https://bitcointalk.org/index.php?topic=67666

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ineededausername
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May 04, 2012, 04:35:59 AM
 #2

20% uninsured is crazy.
edit: on the other hand, if you're insuring...

(BFL)^2 < 0
bitlane
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May 04, 2012, 04:44:11 AM
 #3

20% uninsured is crazy.
edit: on the other hand, if you're insuring...

So, you either did 1 of, or a combination of the following 3 things:

1) You are calling Pirate a Scammer.

2) You are calling Me a Scammer.

3) You are trying to make your 28% return on 25% Insurance look better with the link in your Sig, by simply posting.

I think you forget how YOU made most of your current bankroll, by offering 15% or LESS to users who didn't have a Pirate account, while taking the profits and thinking nothing of it.

I do appreciate your vote of confidence in Pirate though....and considering how much BTC he has made for you (while you used other's BTC), I am sure HE would as well.

Thanks again,
bitlane.

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May 04, 2012, 04:47:13 AM
 #4

Could you/would you invite nrd525 amd MPOE-PR to deposit?
bitlane
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May 04, 2012, 04:48:30 AM
 #5

Could you/would you invite nrd525 amd MPOE-PR to deposit?
Not a bloody chance.....hehe

Remember this part from the OP ?....lol
I have been a ...... Pirate Member in good standing since January 2012.

Wink

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May 04, 2012, 04:53:06 AM
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6 months?

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May 04, 2012, 04:58:46 AM
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Could you/would you invite nrd525 amd MPOE-PR to deposit?
Not a bloody chance.....hehe

Remember this part from the OP ?....lol
I have been a ...... Pirate Member in good standing since January 2012.

Wink

Sorry, couldn't resist. 

(on topic, Bitlane has had his account around 4 months as far as I know, has done several decent sized loans and repaid without problem)
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May 04, 2012, 10:26:39 AM
 #8

Can I have some of your BTC to put into my Pirate account ?

I will pay the equivalent of 20% MPR, as Daily (0.66% per Day) NON-COMPOUNDING Interest.

2 Weeks MINIMUM Investment.

I figure with all the 'Pirate Talk' that I would make this offer and see who wants to roll the dice.

I have been a <Zero withdrawal, 100% Re-Investing> Pirate Member in good standing since January 2012.

Rock 'N Roll ! FTW !

My 'Trust' History....
https://bitcointalk.org/index.php?topic=67666

** I reserve the right to repay early **


If Pirate defaults will you return deposits back to people?
bitlane
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May 04, 2012, 11:38:06 AM
 #9

If Pirate defaults will you return deposits back to people?
...but of course Wink

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May 04, 2012, 12:15:57 PM
 #10

If Pirate defaults will you return deposits back to people?
...but of course Wink

100% guarantee with 20% interest.  Are you willing to share your personal information with any big depositors.
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May 04, 2012, 12:26:23 PM
 #11

If Pirate defaults will you return deposits back to people?
...but of course Wink
If you put the irony out of your post and seriously state that you provide some kind of insurance, that would change something. Otherwise 20% MPR uninsured does not sound better than 18% MPR 25% insured (PPT.C bought at 1.1).

I have some coins with established lenders and while it is true there is a potential MPR of 56% (1.5% daily), I'm fine with getting up to 15% guaranteed. If you offer 20% insured, hurry up and get some larger wallet to accommodate my coins.

bitlane
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May 04, 2012, 12:57:19 PM
 #12

100% guarantee with 20% interest.  Are you willing to share your personal information with any big depositors.

Definitely....although I am not really in the market for 'big' depositors at the moment, due to Pirate's Storage Capacity being 'Low' currently and I would rather not see a large deposit returned to me in the form of a forced withdrawal.

As I have a current Loan that I used to complete my mining setup and am currently paying back using mining proceeds, I think the best course of action would be to take care of my current 'business' so that my current Lender has no reason to loose faith in me.

I will revisit this offer in the near future once I am 100% debt-free and have withdrawn 50% or so from my Pirate account to keep in cold storage, so that I can match deposits 1:1 using BTC and not have to rely on other fiat for insurance purposes.

The last thing I want to do is end up like another Shakura (or similar) by getting in over my head......all 'bitcoin-star-struck' with dreams of new-found riches on the horizon Wink

Once I complete my current Loan I will re-post a more serious offer that states what I have said above (1:1/Cold Storage matching etc).

Cheers,
bitlane.

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May 04, 2012, 01:01:01 PM
 #13

Just tell me, why would you trust him more than Pirate?)
If everything will be fine, he loose nothing, but whats stops him from running away if you give him huge sum of money?)

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ineededausername
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May 04, 2012, 01:10:59 PM
 #14

20% uninsured is crazy.
edit: on the other hand, if you're insuring...

So, you either did 1 of, or a combination of the following 3 things:

1) You are calling Pirate a Scammer.

2) You are calling Me a Scammer.

3) You are trying to make your 28% return on 25% Insurance look better with the link in your Sig, by simply posting.

I think you forget how YOU made most of your current bankroll, by offering 15% or LESS to users who didn't have a Pirate account, while taking the profits and thinking nothing of it.

I do appreciate your vote of confidence in Pirate though....and considering how much BTC he has made for you (while you used other's BTC), I am sure HE would as well.

Thanks again,
bitlane.

I did none of those things... just saying that it's irrational for people to give you a profit when you don't insure anything.  They could just deposit with pirate.  However, if you insure their deposits against a pirate default, it's reasonable to expect them to pay you for it.

(BFL)^2 < 0
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May 04, 2012, 01:16:11 PM
 #15

I will revisit this offer in the near future once I am 100% debt-free and have withdrawn 50% or so from my Pirate account to keep in cold storage, so that I can match deposits 1:1 using BTC and not have to rely on other fiat for insurance purposes.

The last thing I want to do is end up like another Shakura (or similar) by getting in over my head......all 'bitcoin-star-struck' with dreams of new-found riches on the horizon Wink

Once I complete my current Loan I will re-post a more serious offer that states what I have said above (1:1/Cold Storage matching etc).

Cheers,
bitlane.

Actually, you shouldn't do that.

Let's say you have 50 BTC deposits, and you match them in cold storage.

If you match:
pirate defaults -> lose 50 BTC from cold storage
pirate doesn't default -> gain difference between 20% MPR and 31% MPR

If you just put your 50 BTC with pirate in the first place and don't take the deposit:
pirate defaults -> lose 50 BTC
pirate doesn't default -> gain all 31% interest

It's always better to not take deposits if you're going to match 1:1.

(BFL)^2 < 0
bitlane
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May 04, 2012, 01:23:24 PM
 #16

Actually, you shouldn't do that.

Let's say you have 50 BTC deposits, and you match them in cold storage.

If you match:
pirate defaults -> lose 50 BTC from cold storage
pirate doesn't default -> gain difference between 20% MPR and 31% MPR

If you just put your 50 BTC with pirate in the first place and don't take the deposit:
pirate defaults -> lose 50 BTC
pirate doesn't default -> gain all 31% interest

It's always better to not take deposits if you're going to match 1:1.

Jesus H.....
You are correct. I never even gave it much thought, other than providing Insurance.....lol

Taking Deposits at this point in the game could not only hurt my overall earning potential, but end up costing me more in the end.

I feel like an idiot.....hehe

maths is good.....LOL

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May 04, 2012, 04:52:40 PM
 #17

I think people call Pirate a scam because they don't have a clue about how he do what he do...
And, they would like to be able to do the same but they can't / don't know how... lol

Cheers,
Thiago

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May 04, 2012, 05:16:58 PM
 #18

As you guys know more then me about the pirate, may I ask, why is he paying so much in interest?
People here will run to lend him money even at 10%. It doesn't make business sense to me.

bitlane
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May 04, 2012, 05:21:01 PM
 #19

As you guys know more then me about the pirate, may I ask, why is he paying so much in interest?
People here will run to lend him money even at 10%. It doesn't make business sense to me.

I personally think that he runs a high priced Coyote Service, seeing as he is in Texas....and it seems to have the best guarded border in the South.

He most likely uses the Bitcoins to fund a Border crossing (drinks, snacks, USA shirts & hats, bribes, transportation etc) then once paid the enormous fee for his service from his Mexi-Friends, he passes along the profits to the rest of us.

Again, this is just speculation.

Keep an eye on him. If he changes his nick to 'Coyoteat40' you will know for sure.

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May 04, 2012, 05:57:38 PM
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As you guys know more then me about the pirate, may I ask, why is he paying so much in interest?
People here will run to lend him money even at 10%. It doesn't make business sense to me.

I personally think that he runs a high priced Coyote Service, seeing as he is in Texas....and it seems to have the best guarded border in the South.

He most likely uses the Bitcoins to fund a Border crossing (drinks, snacks, USA shirts & hats, bribes, transportation etc) then once paid the enormous fee for his service from his Mexi-Friends, he passes along the profits to the rest of us.

Again, this is just speculation.

Keep an eye on him. If he changes his nick to 'Coyoteat40' you will know for sure.

Interstate 40 does run through Texas.  Maybe that's the dropoff point?

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