herzmeister
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Activity: 1764
Merit: 1007
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August 17, 2012, 10:06:12 AM |
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It's just a question, I really don't know (or I'm too lazy to research), and it's in context here because @PatrickHarnett mentioned lowering interest rates.
It does not make direct sense for a Ponzi after all, only as a stunt to pretend legitimacy of the business. But even then, it's a dangerous endeavor, because it would cause many people to withdraw. A Ponzi operator may rather choose at that point in time to run away instead of lowering interest rates.
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Bitcoin addresses contain a checksum, so it is very unlikely that mistyping an address will cause you to lose money.
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ShadowAlexey
Donator
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Activity: 968
Merit: 1002
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August 17, 2012, 10:12:25 AM |
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Come on, people, do you really think that in this world some one would ever pay you risk free over 1% a month?
Most of us dont have enough funds to live only on interest in common world, thats why we invest our money here. Most likely most of us wont be able to get even 20% a month on our funds doing business, which involves very high risk of loosing your funds.
So WHY are whine about all this shit? The mote you risk the more you get, thats how it works, there is no other way. Don`t wont your funds get stolen, go to the Bank, usual one, and may be you will get your funds back in a year(but u also take some risks). Look, in the real world Facebook investors have managed to loose 50% of their invested money, no one is saying that Mark is a scammer, this is how it all works. I`m really
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payb.tc
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August 17, 2012, 10:48:27 AM |
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I still have the pm where I was offered 100BTC for a referral that I turned down.
ha, i should have kept my copy from when i did the same thing... i wonder if it was from the same person. |
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PatrickHarnett (OP)
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August 17, 2012, 08:38:08 PM |
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Did Madoff or the like reduce interest rates at any point?
Don't know, nor particularly do I care. In the local finance market it wasn't the collapse of companies that was worst, it was the simple lack of diversity of investments. Retired people by their hundreds and thousands put 100% of their money into just one thing. When they went pop - their retirement was ruined. The point about interest rates is not one of a normal business or inflationary cycle, but one of moving from an accelerated economy to one that behaves more efficiently. |
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herzmeister
Legendary
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Activity: 1764
Merit: 1007
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August 17, 2012, 11:16:06 PM |
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Don't know
ok, he doesn't at last.  |
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PatrickHarnett (OP)
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August 18, 2012, 02:27:05 AM |
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I do know the US Federal Reserve reduced interest rates, and printed a whole lot of money. I have also seen that with a positive birth-rate, the USA is one of the few countries that was considered to be able to breed their way out of debt (sorry, I can't find the reference). Some great pyramid/ponzi characteristics there, but that's been done to death elsewhere.
Back to the regular scheduled programme.
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World
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August 18, 2012, 08:31:23 PM |
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The point about interest rates is not one of a normal business or inflationary cycle, but one of moving from an accelerated economy to one that behaves more efficiently.
+1 |
Supporting people with beautiful creative ideas. Bitcoin is because of the developers,exchanges,merchants,miners,investors,users,machines and blockchain technologies work together.
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zyk
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August 18, 2012, 09:43:33 PM |
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Who pays what ? Would be surprised if anybody pays anything if pirate ain´t paying  or is everybody honoring his commitments without fingerpointing? Speculative answers about independent trustworthyness would be very much appreciated Cheers Zyk |
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PatrickHarnett (OP)
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August 18, 2012, 10:55:24 PM |
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Who pays what ? Would be surprised if anybody pays anything if pirate ain´t paying or is everybody honoring his commitments without fingerpointing? Speculative answers about independent trustworthyness would be very much appreciated Cheers Zyk I have received payments from the reliable people that I choose to invest with, and am still within limits on the deposits I manage (Starfish has about 17k paying 1%/wk). What happens over the next week will be interesting. Also - I'll be working on the OP today - it'll take a few hours. |
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bitsire
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August 19, 2012, 02:22:46 PM |
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Just wanted to say thanks a lot for this thread Patrick - as I'm sure you know, there are many of us who really appreciate all the effort you put into it so please don't let the shills get you down. The FUD slinging certainly did reach epic proportions lately but I have no doubt that the community will just strengthen and continue to get better thanks to committed members such as yourself.
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Gladamas
Sr. Member
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Activity: 294
Merit: 250
Bitcoin today is what the internet was in 1998.
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August 19, 2012, 09:42:56 PM |
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Just wanted to say thanks a lot for this thread Patrick - as I'm sure you know, there are many of us who really appreciate all the effort you put into it so please don't let the shills get you down. The FUD slinging certainly did reach epic proportions lately but I have no doubt that the community will just strengthen and continue to get better thanks to committed members such as yourself.
+1 |
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zyk
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August 20, 2012, 01:27:58 AM |
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thanks Pattrick for your quick answer and visionary staying abilities and qualities in bitcoin community.
may i ask you what kind of reference you take into account for your ratings?
that gives me a real bad taste as it compares very much to the head of the crooks in dollar ponzi ( moodys, layman broke and fitch)
we all know what kind of conflicting interests arrouse from this.
as we are still a community i would love that the peer to peer spirit stays alive after the centralizing effects of BCST, Bitcoinmax, PPTs are gone
for good now..
would you mind to explain your insights of pirate mechanics as to have a handle for the fallout?
Thanks Zyk
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PatrickHarnett (OP)
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August 20, 2012, 02:00:27 AM |
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I would like to provide some insight into what was going on as I mapped out the mechanics of what I thought was going on to Pirate last week. It had taken me a while to work out the money flows, and he confirmed that I had it pretty much straight. For the doubters, they would say he was simply lying and stringing me along, but that could be said of most people on the forum.
As for disclosing it, I do not consider it my place to do that. It was something confidential I discussed with someone, and it stays that way until Pirate wishes to make it public. There is nothing stopping me from duplicating it, and it's not illegal at all, but it would take a lot of time and effort. I am sure Pirate is happy to be winding it up and being able to get away from it for a while.
Also, not all PPTs are gone, I still have one, just with zero volume until I work out a reincarnation for it.
Anyway, as I wasted most of yesterday, I didn't re-do the OP - I'll do some work on that now.
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Gladamas
Sr. Member
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Activity: 294
Merit: 250
Bitcoin today is what the internet was in 1998.
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August 20, 2012, 03:01:24 AM |
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There is nothing stopping me from duplicating it, and it's not illegal at all, but it would take a lot of time and effort. I am sure Pirate is happy to be winding it up and being able to get away from it for a while.
Also, not all PPTs are gone, I still have one, just with zero volume until I work out a reincarnation for it.
Are you suggesting that you might start a business similar to what Pirate was doing? |
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PatrickHarnett (OP)
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August 20, 2012, 03:11:53 AM |
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There is nothing stopping me from duplicating it, and it's not illegal at all, but it would take a lot of time and effort. I am sure Pirate is happy to be winding it up and being able to get away from it for a while.
Also, not all PPTs are gone, I still have one, just with zero volume until I work out a reincarnation for it.
Are you suggesting that you might start a business similar to what Pirate was doing? I don't have the right mix of contacts. Plus there are some other things that enabled him to execute efficiently. Even if my conclusions are wrong about what P@40 was doing, it doesn't prevent it from being done. Anyway, back on topic, working my way through the lending section - deposit offerings are pretty scarce. |
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Scott J
Legendary
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Activity: 1792
Merit: 1000
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August 20, 2012, 06:46:44 AM |
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Anyway, back on topic, working my way through the lending section - deposit offerings are pretty scarce. Like everyone else I will be looking to park my coins later today if Pirate pays out. I am really hoping you will have some space in either your 1% offering or your Kraken fund. |
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Jurek
Member
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Activity: 117
Merit: 10
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August 20, 2012, 09:42:08 AM |
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Why isn't hashking listed?
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RoloTonyBrownTown
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August 20, 2012, 09:52:52 AM |
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Anyway, back on topic, working my way through the lending section - deposit offerings are pretty scarce. Like everyone else I will be looking to park my coins later today if Pirate pays out. I am really hoping you will have some space in either your 1% offering or your Kraken fund. Indeed. Slim pickings at the moment, but these coins are going to be burning a hole in my pocket. Roll on Kraken 2. |
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PatrickHarnett (OP)
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August 20, 2012, 09:31:08 PM |
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Why isn't hashking listed?
HK hasn't done a credit rating yet. |
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bitsire
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August 22, 2012, 07:04:56 PM |
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Seems to me that the best (i.e. highest yielding) choices out there now are Bitcoin Rain, Patrick's Kraken Fund (if you got in, if not then Kraken 2 is forthcoming), and Smart1985's mybitcointrade.com. Also, I believe DeaDTerra's Gamma Bitcoin Fund will be a strong offering once he finishes realigning the portfolio.
Thoughts?
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