Bitcoin Forum
December 02, 2016, 10:33:56 PM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 3 4 5 6 7 »  All
  Print  
Author Topic: PirateAt40's Money Laundering Operations: GPUMAX and BST  (Read 15031 times)
ninjaat40
Newbie
*
Offline Offline

Activity: 9


View Profile
May 20, 2012, 01:58:30 AM
 #1

there has been a lot of speculation as to what pirateat40 is doing in order to be able to offer seemingly impossibly good returns in BST and such high rates at GPUMAX.  While it has already been speculated upon I would like to confirm: PirateAt40 is laundering money.  

Here is how they work:

Bitcoin Savings & Trust

Many have asked: How is Pirate regularly paying off 7% a week, with consistency and over a period of time?  (a ponzi would have folding months ago)

Pirate tries to maintain a buffer of somewhere between 10-50k clean bitcoins on hand.  These are the investments from the BTC community.   When one of his customers needs their Bitcoins laundered, he sends them 30-50% the number of dirty Bitcoins back to the customer in clean bitcoins.  (Some of his customers get better rates than others).  then he uses the dirty bitcoins to pay interest back to the depositors.  

This buys his customers the assurance that their new coins are no longer connected to them through the blockchain.  But he can offer them one better...

GPUMAX

GPUMAX is the ultimate form of money laundering because your coins don't come from anyone. they are printed out of thin air.  Miners are happy to be paid 150% without asking questions.  anyone who has been paid out from GPUMAX has recieved dirty coins (unless you were a really early tester).  He can send fresh clean coins to anyone who pays him in bitcoin.  we know that even people who don't have a relationship with us are using it to launder.

Why am I posting this?

Sorry, but I can't say too much without putting myself in the line of fire.  Pirate is a nice guy at heart, but he does business with some ugly people who I don't want coming back to me. recently though, he hasn't been thinking about the long-term for bitcoin, only the short term profits for himself.  he is reinvesting his money in businesses which are illegal in his (and most other) jurisdictions around the world. but the part i am most worried about:

Over the past few months, Pirate has started to get stupid about his IRL spending habits.  He has made some purchases that are probably going to raise some red flags.  His "legitimate" occupation will not stand up to scrutiny if the feds shine a light on him.  there is no way he can justify the amount of money he is pulling out. hes not keeping a clean head and people that know him can tell something isnt quite right. this is what really has me concerned, because he is just being too flashy.

edit: lender beware
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480718036
Hero Member
*
Offline Offline

Posts: 1480718036

View Profile Personal Message (Offline)

Ignore
1480718036
Reply with quote  #2

1480718036
Report to moderator
ineededausername
Hero Member
*****
Offline Offline

Activity: 784


bitcoin hundred-aire


View Profile
May 20, 2012, 02:05:17 AM
 #2

Given all the proof you provided, I cannot help but admit that you are right about Pirate.  I am withdrawing immediately. Wink


sarcasm

(BFL)^2 < 0
Blazr
Hero Member
*****
Offline Offline

Activity: 882



View Profile
May 20, 2012, 02:10:28 AM
 #3



Many have asked: How is Pirate regularly paying off 7% a week, with consistency and over a period of time? (a ponzi would have folding months ago)
Bernie Madoff ran his ponzi scheme from 1970 until 2008.

Earlier today I made a post about this, and I have a feeling this is what may have inspired this thread. If pirate is laundering Bitcoin then the people who are paying him to do it are paying him ridiculous rates. If you go to onionland you'll find plenty of people willing to launder Bitcoins for a 1-2% fee.

Busy ATM.
imsaguy
General failure and former
VIP
Hero Member
*
Offline Offline

Activity: 574

Don't send me a pm unless you gpg encrypt it.


View Profile WWW
May 20, 2012, 02:11:06 AM
 #4

This is your first post?  Who are you really?

Coming Soon!™ © imsaguy 2011-2013, All rights reserved.

EIEIO:
https://bitcointalk.org/index.php?topic=60117.0

Shades Minoco Collection Thread: https://bitcointalk.org/index.php?topic=65989
Payment Address: http://btc.to/5r6
Blazr
Hero Member
*****
Offline Offline

Activity: 882



View Profile
May 20, 2012, 02:13:24 AM
 #5

This is your first post?  Who are you really?

As mentioned, earlier today I made a few posts on the topic, I'm assuming OP read these and decided to make a thread:
https://bitcointalk.org/index.php?topic=82534

Busy ATM.
imsaguy
General failure and former
VIP
Hero Member
*
Offline Offline

Activity: 574

Don't send me a pm unless you gpg encrypt it.


View Profile WWW
May 20, 2012, 02:15:04 AM
 #6

This is your first post?  Who are you really?

As mentioned, earlier today I made a few posts on the topic, I'm assuming OP read these and decided to make a thread:
https://bitcointalk.org/index.php?topic=82534

Not just a thread, but a brand new account.  So either its a total n00b making accusations based on what other people are asserting without adding any new evidence OR its someone that's been around for a while and doesn't have the balls to post using their original account. 

Coming Soon!™ © imsaguy 2011-2013, All rights reserved.

EIEIO:
https://bitcointalk.org/index.php?topic=60117.0

Shades Minoco Collection Thread: https://bitcointalk.org/index.php?topic=65989
Payment Address: http://btc.to/5r6
ninjaat40
Newbie
*
Offline Offline

Activity: 9


View Profile
May 20, 2012, 02:16:50 AM
 #7

This is your first post?  Who are you really?

As mentioned, earlier today I made a few posts on the topic, I'm assuming OP read these and decided to make a thread:
https://bitcointalk.org/index.php?topic=82534

Actually I missed your post, but you are spot on:

Quote
There a few different reasons to rent hash power, most are nefarious, and the two big ones are to wash money or hop proportional pools (although pool hopping isn't possible for those renting from GPUMax). Somebody is profiting off your GPU in some way or another.
ninjaat40
Newbie
*
Offline Offline

Activity: 9


View Profile
May 20, 2012, 02:21:39 AM
 #8

This is your first post?  Who are you really?

As mentioned, earlier today I made a few posts on the topic, I'm assuming OP read these and decided to make a thread:
https://bitcointalk.org/index.php?topic=82534

Not just a thread, but a brand new account.  So either its a total n00b making accusations based on what other people are asserting without adding any new evidence OR its someone that's been around for a while and doesn't have the balls to post using their original account. 

you are right.  i don't have the balls to publicly identify myself as the snitch and take the stiches i deserve.
ninjaat40
Newbie
*
Offline Offline

Activity: 9


View Profile
May 20, 2012, 02:23:06 AM
 #9

anyone who has been paid out from GPUMAX has recieved dirty coins (unless you were a really early tester).

I've been using GPUMAX for a while, and checking my GPUMAX address using Bitcoin Tools, I have no money from the linode hack, allinvain hack or latest bitcoinica hack in the address. 70% of my other addresses do have allinvain coins (<1% purity).

IMO Pirateat40 is doing something (possibly illegal) to profit off of us, but he's obviously never going to mention what it is.

drugs mostly.  make a purchase with the top sellers on SR and then trace them.
imsaguy
General failure and former
VIP
Hero Member
*
Offline Offline

Activity: 574

Don't send me a pm unless you gpg encrypt it.


View Profile WWW
May 20, 2012, 02:28:08 AM
 #10

anyone who has been paid out from GPUMAX has recieved dirty coins (unless you were a really early tester).

I've been using GPUMAX for a while, and checking my GPUMAX address using Bitcoin Tools, I have no money from the linode hack, allinvain hack or latest bitcoinica hack in the address. 70% of my other addresses do have allinvain coins (<1% purity).

IMO Pirateat40 is doing something (possibly illegal) to profit off of us, but he's obviously never going to mention what it is.

drugs mostly.  make a purchase with the top sellers on SR and then trace them.

Evidence?

Coming Soon!™ © imsaguy 2011-2013, All rights reserved.

EIEIO:
https://bitcointalk.org/index.php?topic=60117.0

Shades Minoco Collection Thread: https://bitcointalk.org/index.php?topic=65989
Payment Address: http://btc.to/5r6
ninjaat40
Newbie
*
Offline Offline

Activity: 9


View Profile
May 20, 2012, 02:30:06 AM
 #11

anyone who has been paid out from GPUMAX has recieved dirty coins (unless you were a really early tester).

I've been using GPUMAX for a while, and checking my GPUMAX address using Bitcoin Tools, I have no money from the linode hack, allinvain hack or latest bitcoinica hack in the address. 70% of my other addresses do have allinvain coins (<1% purity).

IMO Pirateat40 is doing something (possibly illegal) to profit off of us, but he's obviously never going to mention what it is.

drugs mostly.  make a purchase with the top sellers on SR and then trace them.

Evidence?

sorry, theres no way for me to do that which wont be personally traceable.  but you already knew that...  Wink
imsaguy
General failure and former
VIP
Hero Member
*
Offline Offline

Activity: 574

Don't send me a pm unless you gpg encrypt it.


View Profile WWW
May 20, 2012, 02:31:45 AM
 #12

anyone who has been paid out from GPUMAX has recieved dirty coins (unless you were a really early tester).

I've been using GPUMAX for a while, and checking my GPUMAX address using Bitcoin Tools, I have no money from the linode hack, allinvain hack or latest bitcoinica hack in the address. 70% of my other addresses do have allinvain coins (<1% purity).

IMO Pirateat40 is doing something (possibly illegal) to profit off of us, but he's obviously never going to mention what it is.

drugs mostly.  make a purchase with the top sellers on SR and then trace them.

Evidence?

sorry, theres not way for me to do that which wont be personally traceable.  but you already knew that...

Just like you know its easy to spread FUD without having to back up what you say.  Maybe you should use your original account instead of hiding behind a new one.

Coming Soon!™ © imsaguy 2011-2013, All rights reserved.

EIEIO:
https://bitcointalk.org/index.php?topic=60117.0

Shades Minoco Collection Thread: https://bitcointalk.org/index.php?topic=65989
Payment Address: http://btc.to/5r6
ninjaat40
Newbie
*
Offline Offline

Activity: 9


View Profile
May 20, 2012, 02:46:15 AM
 #13

anyone who has been paid out from GPUMAX has recieved dirty coins (unless you were a really early tester).

I've been using GPUMAX for a while, and checking my GPUMAX address using Bitcoin Tools, I have no money from the linode hack, allinvain hack or latest bitcoinica hack in the address. 70% of my other addresses do have allinvain coins (<1% purity).

IMO Pirateat40 is doing something (possibly illegal) to profit off of us, but he's obviously never going to mention what it is.

drugs mostly.  make a purchase with the top sellers on SR and then trace them.

Evidence?

sorry, theres not way for me to do that which wont be personally traceable.  but you already knew that...

Just like you know its easy to spread FUD without having to back up what you say.  Maybe you should use your original account instead of hiding behind a new one.

does anyone else think its interesting that he is trying harder to find my identity than to discredit me?

in case the rest of you don't know, imsaguy does business with pirate
imsaguy
General failure and former
VIP
Hero Member
*
Offline Offline

Activity: 574

Don't send me a pm unless you gpg encrypt it.


View Profile WWW
May 20, 2012, 02:50:42 AM
 #14

does anyone else think its interesting that he is trying harder to find my identity than to discredit me?

I haven't tried to figure out who you are.  All I asked was who you really are, since you decided to make a brand new account for this.  You'll notice I use a single account and I don't hide.  If I've got something to say about someone, I'll say it and take credit for it.

in case the rest of you don't know, imsaguy does business with pirate

This one gets you the Captain Obvious award.  Half the bitcoin community has done business with pirate.  derp.

Coming Soon!™ © imsaguy 2011-2013, All rights reserved.

EIEIO:
https://bitcointalk.org/index.php?topic=60117.0

Shades Minoco Collection Thread: https://bitcointalk.org/index.php?topic=65989
Payment Address: http://btc.to/5r6
Blazr
Hero Member
*****
Offline Offline

Activity: 882



View Profile
May 20, 2012, 02:50:58 AM
 #15

<fud>
Everybody knows that Pirate is Atlas, Shakaru & Bruce Wagner. He is the biggest smuggler of Colombian cocaine in the world and doesn't afraid of anything.
</fud>

Blazr proposes FUD tags for the forum

Busy ATM.
ninjaat40
Newbie
*
Offline Offline

Activity: 9


View Profile
May 20, 2012, 03:00:05 AM
 #16

So you get to allude to imsaguy's supposed ulterior motives but we don't get to know yours?

pirate is being stupid with other peoples money.  if he goes down, nobody gets their money back.  5-10% of bitcoins go *poof*.  hes not keeping a clean head recently, which is what got me really worried.  he isnt respecting the responsibility which comes from managing almost a half million dollars of other people's money. 

i fear if this isn't unwound soon, its going to be like a mini-2008 US financial crisis for Bitcoin.  way too many lenders depend on his regular 7% to make the returns they promise.  when the music stops, innocent naive people will be left holding the bag.

Full disclosure: im long bitcoin.
payb.tc
Hero Member
*****
Offline Offline

Activity: 812



View Profile
May 20, 2012, 03:03:27 AM
 #17

these threads are probably good for scaring off new investors and opening up more availability for the serious ones.

thanks ninja
imsaguy
General failure and former
VIP
Hero Member
*
Offline Offline

Activity: 574

Don't send me a pm unless you gpg encrypt it.


View Profile WWW
May 20, 2012, 03:03:41 AM
 #18

Full disclosure

Suddenly now you're worried about full disclosure?  Clearly you've got a bit to learn about 'full disclosure'.

Coming Soon!™ © imsaguy 2011-2013, All rights reserved.

EIEIO:
https://bitcointalk.org/index.php?topic=60117.0

Shades Minoco Collection Thread: https://bitcointalk.org/index.php?topic=65989
Payment Address: http://btc.to/5r6
ninjaat40
Newbie
*
Offline Offline

Activity: 9


View Profile
May 20, 2012, 03:12:24 AM
 #19

these threads are probably good for scaring off new investors and opening up more availability for the serious ones.

thanks ninja


payb.tc is a 'serious' investor in BST?
symbols
Newbie
*
Offline Offline

Activity: 29


View Profile
May 20, 2012, 03:14:41 AM
 #20

While I have no experience with pirate, I took it for granted that laundering drug money was his gig. I assume most pragmatic analysis leads to that conclusion. I would guess that most of his investors believe this as well.

-s
Pages: [1] 2 3 4 5 6 7 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!