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Snapman
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August 28, 2012, 04:38:29 PM
 #421

pray

BTCRadio: 17cafKShokyQCbaNuzaDo5HLoSnffMNPAs
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August 28, 2012, 05:48:05 PM
 #422

I don't actually have any TYGRR shares, I'm just here for the lulz.
And yes, you do bring up some good points every once in awhile in your vitriol laced posts. It's just that you're a jackass in all of them.
Jackass, troll, piotr_n - or whatever.
The words you call me - they mean nothing for me.

Now I'm only here to speak up the truth.
And for all you suckers out there who are jumping onto me now, I can promise to each single one of you that I will come back here one day, just to say the words: I told you so!

29130 now - still 10870 to go... You're doing just great, Goat! Smiley

given the circumstances, what do you suggest current bond holder should do?
i think i already said that. i want him to dump on the market as many bonds as possible. Smiley

Check out gocoin - my original project of a bitcoin client written in Go, with some unique features.
PGP fingerprint: AB9E A551 E262 A87A 13BB  9059 1BE7 B545 CDF3 FD0E
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August 28, 2012, 09:45:13 PM
 #423

new topic for #btcst is set by pirateat40

Code:
<pirateat40> Notice:  If you are a PPT operator please contact me via PM.  Thanks

Did you contact him and what did he tell you?

While reading what I wrote, use the most friendliest and relaxing voice in your head.
BTW, Things in BTC bubble universes are getting ugly....
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August 28, 2012, 11:11:42 PM
 #424

unless Goat has one of the oldest btcst accounts and going to be repaid before anybody else he doesn't have much of an edge against everybody else. as soon news gets out that pirate is doing payments on irc and the forums, ALL PPTs at discount rate will be bought out instantly, Goat or not.  it's a fair game

Especially if Pirate is the one who has bought them at a discount. Make a few token PPT payments and sell into the rally.

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August 28, 2012, 11:13:59 PM
 #425

Especially if Pirate is the one who has bought them at a discount. Make a few token PPT payments and sell into the rally.

lol you're delusional if you think he's going to pay anybody back

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August 29, 2012, 01:28:30 AM
 #426

new topic for #btcst is set by pirateat40

Code:
<pirateat40> Notice:  If you are a PPT operator please contact me via PM.  Thanks

Did you contact him and what did he tell you?

Enquiring minds want to know...

THIS SPOT FOR RENT* | GPG ID: 4880D85C | 1% Escrow | 8% IPO/ICO Escrow services Temporarily Closed | Bitcointalk is the ONLY place where I use this name (No Skype/IRC/YIM/AIM/etc) | 13CsmTqGNwvFXb7tD9yFvJcEYCDTB8wQTS | Beware of these SCAM sites! | *Sponsored Link
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August 29, 2012, 02:19:13 AM
 #427

Damn, he banned you?? That's fucked up.
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August 29, 2012, 02:20:14 AM
 #428

Declaring bankruptcy before he can get sued.  Niiiiiiice

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August 29, 2012, 02:23:34 AM
 #429

Damn, he banned you?? That's fucked up.

He didn't ban him, just set the channel so only ops (operaters) could talk
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August 29, 2012, 02:23:45 AM
 #430

Pirate thinks Breaking Bad wasn't good for a while?  When?  I've been watching the whole series and I think it has rocked every episode.
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August 29, 2012, 02:27:15 AM
 #431

* Topic for #btcst-trust is: "Bitcoin Savings & Trust | Update at 8:30pm CST (-5). Invite Only
* Topic for #btcst-trust set by pirateat40!~pirateat4@unaffiliated/pirateat40 at Wed Aug 29 04:13:19 2012
<hashking> lol
<copumpkin> omg it's the hypergoat
<gigavps> goat on a rope
<gigavps> o, i meant boat
<Chaang-Noi> i will be a goat from a rope soon!
<Chaang-Noi> Smiley
<Chaang-Noi> morning all
<[\\\]> shutup goat
<Chaang-Noi> lol, what is with the morning cheer?
<[\\\]> are you not watching #btcst?
<Chaang-Noi> no
<[\\\]> [2012/08/28 19:54:58] <@pirateat40> Bitcoin Savings & Trust has hereby given notice of default to it's account holders.
<OneFixt> um what?
<[\\\]> in #btcst
<[\\\]> 4 minutes ago
<[\\\]> so pirateat40, why the gathering here then?
<Chaang-Noi> i see
<hashking> well goat I hope you sold your account
<Chaang-Noi> lol
<Chaang-Noi> no, it was a joke, i did get offers however
<pirateat40> More to come.
<Chaang-Noi> okay
<Chaang-Noi> ill be back in 5 
<[\\\]> I suppose I'll open it up now
* copumpkin isn't selling
<hashking> open what up
<copumpkin> pirateat40: so was there something specific for the PPT people? I guess the announcement time is still 24 minutes away
<hashking> It will probably  be in 21 minutes
<pirateat40> Yes, 19min
<gigavps> if this is you trolling, i'm going to fly to Texas to kick your ass and buy you some more makers 46
<copumpkin> lol
<copumpkin> been there done that
<patrickharnett> For the terms of the bet and various business dealings, having a clearly defined statement of default (given the time frame specified) is a very useful point to reach
<pirateat40> gigavps, lol we could get drunk and watch breaking bad.
<Chaang-Noi> that is an awesome show
<[\\\]> I've yet to watch it
<pirateat40> It just got much better.
<[\\\]> So can we skip up a few minutes?
<Chaang-Noi> i just got done with number 5
<[\\\]> its close enough to 830
<pirateat40> I thought they were dying on the 3rd episode.
<patrickharnett> I haven't seen the show - looks like it has some warm/fuzzy characters in it
<pirateat40> then it picked back up and rocks again.
<patrickharnett> make'em wait till 8:30
<Chaang-Noi> it is a good show Patrick, however the first few shows are a bit slow, but its very worth it
<[\\\]> so I better make sure my current documents up to date?
<[\\\]> I was lazy and didn't calculate this last week's interest distribution
<copumpkin> pirateat40: I am the one who knocks
<copumpkin> on wood
<pirateat40> Is everyone here that can be?
<[\\\]> (no homo)
<patrickharnett> hmm, I don't watch much tv
<[\\\]> pirateat40: BW is with his kid
<[\\\]> he wanted to be on his androirc
<[\\\]> but it kept pinging out
<[\\\]> we've got a line to him though
<pirateat40> k
<[\\\]> so he'll know shortly after
<patrickharnett> We're going to relay stuff for Burt
<[\\\]> all the told you so's already
<[\\\]> and regardless of anything that's happen, bitlane is frakking nuts
<gigavps> let's get started then
<hashking> Im ready.
<[\\\]> I'm pretty certain this channel can keep a secret for 11 minutes
<gigavps> o wait, i'm supposed to say that with my other acct
* [\\\] is now known as notpirateat40
<notpirateat40> seeekrets
* notpirateat40 is now known as [\\\]
<Chaang-Noi> i saw the photo, you are all pirate!
<pirateat40> It's not about what it said, i just wanted the most of people here see it.
<reeses> did I wake up just in time?
<gigavps> yes, now shut up
<Chaang-Noi> yes reeses, hows india?
<gigavps> let the man speak
<hashking> we are ready again.
<pirateat40> Bitcoin Savings & Trust has hereby given notice of default to it's account holders.
<pirateat40> At his time, all Pirate Pass-Thru operators are required to submit a list of their sub-accounts including; balance, forum / IRC name (or any other way of linking and confirming the account) and Bitcoin withdraw address. Payments will be processed directly by Bitcoin Savings & Trust to Pirate Pass-Thru sub-accounts upon verification and cleared of any outstanding conditions.
<pirateat40> Payments will be processed directly by Bitcoin Savings & Trust to Pirate Pass-Thru sub-accounts upon verification and cleared of any outstanding conditions.Payments will be processed directly by Bitcoin Savings & Trust to Pirate Pass-Thru sub-accounts upon verification and cleared of any outstanding conditions.
<pirateat40> Principal and interest payments are subject to review.
<pirateat40> No timeline or further information is available at this time.
<patrickharnett> would you like emailed lists?
<patrickharnett> you said pm's were a pain
<Chaang-Noi> we never got the sub accounts set up, i dont understand
<pirateat40> Emailed to me@pirateat40.com encrypted with your private key if available.
<copumpkin> your public key, you mean
<pirateat40> Chaang-Noi, bonds are going to be tricky.
<hashking> Why is it being done this way.
<[\\\]> pirateat40: balances as of when?
<gigavps> Chaang-Noi ask nefario to lock the bond and give you a list of holders

<copumpkin> we need your public key to encrypt
<Chaang-Noi> can you please explain why this needs to be done this way?
<pirateat40> [\\\], current balances
<[\\\]> copumpkin: gpg info pirateat40
<Chaang-Noi> gigavps nefario wont do that, that is public knowledge
<reeses> copumpkin: look for the one I signed
<hashking> Not sure how to use that.
<[\\\]> pirateat40: well, does that include last monday's interest?
<hashking> I have to many small accounts to try and put this together.
<pirateat40> Chaang-Noi, it's a legal thing.  That's really all I can say.
<Chaang-Noi> matthew will lose his bet then
<Chaang-Noi> there is no way you will every pay us
<hashking> It would take me forever to compile my list.
<pirateat40> [\\\], the balance should include the total balance up to today at 8:30 PM CST
<[\\\]> ok
<Chaang-Noi> pirateat40 you know you are asking me to do something i cant.
<hashking> When is the deadline to send this to you.
<pirateat40> Chaang-Noi, I know it's not something you can do with bonds and have relayed that information but I don't have an answer for you yet.
<patrickharnett> I can have mine compiled quite quickly as the bonds can simply be repurchased and I only have three sub accounts - when would payment be?
<[\\\]> I have mine ready already
<[\\\]> its a google doc
<pirateat40> hashking, Friday by midnight.
<pirateat40> [\\\] perfect
<gigavps> pirateat40 what are the next steps beyond this?
<hashking> I can't have it done by then.
<[\\\]> seriously, a basic timeline
<[\\\]> we've been very patient, you need to give us a little something.
<pirateat40> gigavps, I don't have a timeline other than Friday at midnight at this point.
<hashking> What are you intentions.  What if I can't get you the information by friday.
<Chaang-Noi> im going to have to run this stuff by my lawyer.
<Chaang-Noi> this seems off...
<hashking> For once I will agree with goat
<reeses> it's pretty standard for a default
<hashking> So then there will be no payment.
<reeses> assets have to be divided fairly
<Chaang-Noi> pirate, do you have any assets to be divided?
<patrickharnett> a list of creditors yes, but the passing on of additional information is unusual
<[\\\]> gigavps, we're over here, wrong channel
<gigavps> oops
<gigavps> pirateat40 can you please explain how you are using the term default?
<gigavps> pirateat40 is there a liquidation preference or priority?
<pirateat40> No timeline or further information is available at this time.
<Chaang-Noi> pirate, can you make your lawyers phone number public? i want to have somethings confirmed.
<reeses> that might be the smart move, because you can say things now that fuck you into piercing your corp. shield
<pirateat40> Chaang-Noi, those details will be available on Friday and all communication will be by certified mail.
<Chaang-Noi> good
<[\\\]> awesome, we're being served.
<hashking> served for what.
<copumpkin> we can get served by pirateat40 and by the lynch mob Smiley
<reeses> dibs on the m5
<Chaang-Noi> i wonder if pirateat40 is working with the feds...
<hashking> imsa need you in btcfgpa.
<Chaang-Noi> i would like to talk with your lawyer before anything else happens.
<hashking> I think that is fair.
<Chaang-Noi> you have all the information you need to know
<Chaang-Noi> if you need more info you need to tell us why
<hashking> I will need a lawyers number also before I give out any information as you are the one that has messed this up.
<pirateat40> Thanks guys, have a good night.
<Chaang-Noi> giving us 48 hours to make a list or not get btc is fail...
* pirateat40 sets mode +m #btcst-trust
<Chaang-Noi> .
* #btcst-trust :Cannot send to channel

Bitcoin Oz
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August 29, 2012, 02:29:02 AM
 #432

Clearly this is some very odd and some bad news. (less than 1 hour old)

This only brings up more questions than answers. I don't know what is going to happen but it looks to me not great.

Just letting you know...



Hes basically saying "Come at me bro"

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August 29, 2012, 02:34:40 AM
 #433

Clearly this is some very odd and some bad news. (less than 1 hour old)

This only brings up more questions than answers. I don't know what is going to happen but it looks to me not great.

Just letting you know...



Hes basically saying "Come at me bro"

Yeah, looks like he wants to play with lawyers...

Yes. In the end only the lawyers win.

Discovery will be interesting  Smiley

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August 29, 2012, 02:37:51 AM
 #434

Declaring bankruptcy before he can get sued.  Niiiiiiice

Yeah, I'm starting to think he is just taking the money and running.

Zhou, JRO, Bitscalper style...     Sad

Yes, just seems like more stalling.  Did you ever get a real contract from pirate or was it only a online agreement?

Introducing constraints to the economy only serves to limit what can be economical.
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August 29, 2012, 02:39:04 AM
 #435

Yeah, looks like he wants to play with lawyers...

Seems like it would be the only way out for him to avoid legal or other trouble at this stage. He has hinted at having a "legal team" from the time he originally announced the default.

What problems do you see with giving him the data? (i.e. assuming you can somehow get the data in the first place)

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August 29, 2012, 02:39:42 AM
 #436

Declaring bankruptcy before he can get sued.  Niiiiiiice

It doesn't work that way, at least not in the US.  
You can only file a PETITION for bankruptcy and only a judge can discharge your debts.  An open lawsuit it going to stay the discharge.
Now maybe Pirate thinks it works this way or maybe he is just an idiot.

Also I have slammed Goat pretty hard the last couple days but Pirate actions are totally dubious here.
Technically Goat's bond is a derivative of Pirates investment.  Goat is the only investor.  That doesn't mean Goat can keep any money from Pirate but the bondholders are creditors of Goat not Pirate.  Pirate should pay Goat and then Goat disburses payments to bondholders.  My guess is Pirate is using this as a totally lame ass method to reduce his liabilities.  He thinks he can negate any debtor who's information he doesn't get before his arbitrary deadline.  It also puts Goat between a rock and a hard places.  Many of the bondholders will be demanding Goat do what Pirate asks (even if wrong) so they can at least get pennies on the dollar.  If Goat resists then he will get blamed.

TL/DR:
Pirate isn't just a scammer he is a fucking sociopath. Even in the very end he is willfully fucking over everyone,  even the bond issuers.

Crappy situation to be in Goat.  It is going to be lose-lose.
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August 29, 2012, 02:41:22 AM
 #437

Clearly this is some very odd and some bad news. (less than 1 hour old)

This only brings up more questions than answers. I don't know what is going to happen but it looks to me not great.

Just letting you know...



Hes basically saying "Come at me bro"

Yeah, looks like he wants to play with lawyers...

Step 1)  offer illogical rates of return
Step 2)  collect 500,000 BTC from complete morons
Step 3)  Profit!



But seriously.....what a brilliant end game.  Brilliance in simplicity and execution.  Play on the greed of a group of individuals prone to suspend reality, get them to literally SHOVEL Bitcoin at you, wait until the late comers really amp up your deposits, then make your move.  That move being lawyer up, obsfucate, and demand info from the private accounts of your pass through operators.  How insidiously ingenius!  

He has you guys by the balls.  He holds all the cards, and will probably force a settlement of 20% or less of the owed amount.  And honestly, what is your alternative?  Get your own lawyer and sue him for stealing your BITCOINS?  Do Bitcoins even constitute a tangible item?!  99% of lawyers and prosecutors will laugh you out of their office, yelling after you "good luck finding your magic internet monies!"  

The real beauty is that even iaf you fools can get a lawyer to take the case, Pirate can simply claim business went bad, he got in too deep, and now must close up shop.  Happens every day across America.....and the creditors (you guys) are left holding the bag.  Except in those cases, it was probably not so blatantly easy to see the scam.  


Game.  Set.  Match.  Pirate.  

I am a trusted trader!  Ask Inaba, Luo Demin, Vanderbleek, Sannyasi, Episking, Miner99er, Isepick, Amazingrando, Cablez, ColdHardMetal, Dextryn, MB300sd, Robocoder, gnar1ta$ and many others!
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August 29, 2012, 02:42:45 AM
 #438

Seems like it would be the only way out for him to avoid legal or other trouble at this stage. He has hinted at having a "legal team" from the time he originally announced the default.

What problems do you see with giving him the data? (i.e. assuming you can somehow get the data in the first place)

Well that is the problem.  Pirate knows Goat doesn't have that data and likely can't get that data, not for every holder.  Some bondholders (who purchased the bonds in private) will not be willing to give up the info.  Hell every bondholder may not even login or know they need to give info before Pirate's arbitrary deadline he pulled out of his ass.

It is just a way to fuck over the victims a little bit more.  To "erase" (at least in his mind) some of the liabilities.  
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August 29, 2012, 02:44:40 AM
 #439

Declaring bankruptcy before he can get sued.  Niiiiiiice

It doesn't work that way, at least not in the US. 
You can only file a PETITION for bankruptcy and only a judge can discharge your debts.  An open lawsuit it going to stay the discharge.

Now maybe Pirate thinks it works this way or maybe he is just an idiot.

Also I have slammed Goat pretty hard the last couple days but Pirate actions are totally dubious here.
Technically Goat's bond is a derivative of Pirates investment.  Goat is the only investors.  Pirate should pay Goat and then goat disburses payments to bondholders.  My guess is Pirate is using this as a totally lame ass method to reduce his liabilities.  He thinks he can negate any debtor who's information he doesn't get.  It also puts Goat between a rock and a hard places.  Many of the bondholders will be demanding Goat do what Pirate asks (even if wrong) so they can at least get pennies on the dollar.  If Goat resists then he will get blamed.

TL/DR Pirate isn't just a scammer he is a fucking sociopath.  Even in the very end he is willfully fucking everyone over even the bond issuers.

Crappy situation to be in Goat.  It is going to be lose-lose.

My lawyer said that the BTCST account I have with BTCST is only mine. The only information I need to give is my own.

Makes sense to me.  That was my first (layman) analysis when I read the chatlog above.
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August 29, 2012, 02:46:17 AM
 #440

Well that is the problem.  Pirate knows Goat doesn't have that data and likely can't get that data, not for every holder.  Some bondholders (who purchased the bonds in private) will not be willing to give up the info.  Hell every bondholder may not even login or know they need to give info before Pirate's arbitrary deadline he pulled out of his ass.

It is just a way to fuck over the victims a little bit more.  To "erase" (at least in his mind) some of the liabilities.  

Seems like Goat's lawyer's solution is reasonable. As far as pirate is concerned, his liability should be only to Goat, not to some random bondholders, as there were no sub-accounts created with BTCST either as far as I understand.

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