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Author Topic: A day in the life of a pirate.  (Read 28363 times)
pirateat40
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"Yes I am a pirate, 200 years too late."


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May 21, 2012, 09:37:40 PM
 #21

Oh, one thing I forgot.  Just more thanks, no more info. Smiley

There are a couple of people that I know doing the exact same thing I do.  One in the states and one in the UK.  Early on they both contacted me within days of each other asking for some tips on how I handled the process.  Now this was after a very detailed description of what they thought I was doing.  Considering they're not in my area and we'd end up helping each other out, I decided I'd lend a hand in getting them off the ground.  We've keep in contact and to-date (based on how many of you have no idea what's going on) they've kept the information I've told them secret and I can't tell you what that means to me.

Now, I never expect anything in return and this is not a call for them to come forward in the least (they know that).  I simply wanted to mention it and say thanks.

Thanks,

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May 21, 2012, 09:47:44 PM
 #22

Would you be willing to disclose anything about your actual profit margins over the 7% weekly you pay for the use of funds?

The only good thing about this ever ending is that I'll find out what the hell it is. I might be able to replicate it in a different context .... Wink

pirateat40
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May 21, 2012, 09:54:23 PM
 #23

Would you be willing to disclose anything about your actual profit margins over the 7% weekly you pay for the use of funds?

The only good thing about this ever ending is that I'll find out what the hell it is. I might be able to replicate it in a different context .... Wink

Sure, I net gross 10.65% per week and payout 5.98% on average and it really depends on how much I want to work.  The process has become pretty automated lately which is nice because I can spend more time on my other projects and with the family. Smiley

Thanks for your polite and non-divulging question. Smiley

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May 21, 2012, 09:56:32 PM
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Would you be willing to disclose anything about your actual profit margins over the 7% weekly you pay for the use of funds?

The only good thing about this ever ending is that I'll find out what the hell it is. I might be able to replicate it in a different context .... Wink

And that is the whole Frigging Point of why you don't disclose Business Models if others can't figure them out.

NOW, ask very nicely and he might sell Franchises... lol

5 Million Up front, 7.1% royalties.  j/k


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May 21, 2012, 09:57:19 PM
 #25

i learned a very simple thing: if something guarantees more than 7% per year it is likely not worth looking into it. they all blow up.

that said, i am incredibly eager to learn what your business really is, pirate. i bet it makes a great story..
pirateat40
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May 21, 2012, 10:02:47 PM
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i learned a very simple thing: if something guarantees more than 7% per year it is likely not worth looking into it. they all blow up.

that said, i am incredibly eager to learn what your business really is, pirate. i bet it makes a great story..

When I can't make money doing it or just get tired of it, i'll let everyone know.  I promise you there will be a lot of people going "WTF, Damn, why didn't I think of that."

You can't tell me you haven't thought... If I had a Satoshi for every toothpick sold...

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May 21, 2012, 10:14:44 PM
 #27

i learned a very simple thing: if something guarantees more than 7% per year it is likely not worth looking into it. they all blow up.

that said, i am incredibly eager to learn what your business really is, pirate. i bet it makes a great story..

When I can't make money doing it or just get tired of it, i'll let everyone know.  I promise you there will be a lot of people going "WTF, Damn, why didn't I think of that."

You can't tell me you haven't thought... If I had a Satoshi for every toothpick sold...

You sell toothpicks???
pirateat40
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May 21, 2012, 10:15:45 PM
 #28

Does both GPUMAX and BCS&T use the same method to make money?

No, GPUMAX has it's own purchases and wallet.  Like BTCS&T, there seems to be a lot of people that don't know how you can make money paying much higher rates on GPUMAX, but people are catching on and updates coming soon will make it even more popular.  

On that note, the "Hot Wallet" for GPUMAX is emptied after payments come in and deposited into one of my operation wallets for security.  In my opinion, coins are coins regardless of where they come from so before each payment batch is run on GPUMAX the coins are sent from an operating wallet to the payment wallet of GPUMAX.  Accounting wise its pretty easy to manage but not what I want for the public release.  With all the recent hacks of popular sites, I want to make sure everything is perfect before I let "code" manage my wallets.

I hope this answers your question.

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May 21, 2012, 10:57:21 PM
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Lately, there has been an increased amount of pirate passthroughs offered.  Will increased capital make it harder for you to generate the same rate of return?

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May 21, 2012, 11:00:22 PM
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Lately, there has been an increased amount of pirate passthroughs offered.  Will increased capital make it harder for you to generate the same rate of return?
Good question.

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May 21, 2012, 11:02:53 PM
 #31

Would you be willing to disclose anything about your actual profit margins over the 7% weekly you pay for the use of funds?

The only good thing about this ever ending is that I'll find out what the hell it is. I might be able to replicate it in a different context .... Wink

Sure, I net 10.65% per week and payout 5.98% on average and it really depends on how much I want to work.  The process has become pretty automated lately which is nice because I can spend more time on my other projects and with the family. Smiley

Thanks for your polite and non-divulging question. Smiley
Thanks for that. It's the first piece of useful information I've heard from you for weeks. I still have my doubts, but I'll refrain from expressing them any further... for awhile, anyway.

pirateat40
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May 21, 2012, 11:08:32 PM
 #32

Lately, there has been an increased amount of pirate passthroughs offered.  Will increased capital make it harder for you to generate the same rate of return?

No, the system in place makes it pretty easy to for me to adapt to large deposits (going back to how much time I want to spend working).  From day one, it has been much easier to manage accounts that rarely move coins than accounts that are constantly moving coins in an out. So before, my limits were adjusted based on the accounts all making the same rate.  Now, the calculations are based on average balances, so those that never move and hold more coins are rewarded with higher returns.  There's also some changes coming soon that will give the approved bond issuers an additional incentive to manage the smaller and more active accounts.

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May 21, 2012, 11:17:19 PM
 #33

I have a good question. Could whatever you are doing bring increased awareness to Bitcoin, or is it somewhat confined within the existing community?


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pirateat40
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May 21, 2012, 11:18:53 PM
 #34

Thanks for that. It's the first piece of useful information I've heard from you for weeks. I still have my doubts, but I'll refrain from expressing them any further... for awhile, anyway.

I'm a firm believer in "See it before you believe it." and don't expect anyone, regardless of who they are or what their status is to think any differently.  All I ask is that when you finally understand what I stand for and what I'm trying to accomplish you honestly feel good about what you said and how you responded.

Only time will tell and until then find a comfortable spot on the fence. Smiley

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May 21, 2012, 11:21:36 PM
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He doesn't have to run a Ponzi on his own - my guess is still that he "invests" in some Ponzi/pyramid game like MMM. If you read carefully, he never denied that, only that he doesn't Ponzi himself.

You also never denied to being full of, well you get the idea.  A guess is not evidence, nor is it right for people to go running around saying things based on hunches.

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May 21, 2012, 11:24:29 PM
 #36

Can you tell us if your business venture is converting the bitcoin you borrow to fiat or not? I'd like to invest in a PPT type thing but I wouldn't like to invest in a business that uses btc only as a transport mechanism for fiat. I'll understand if you think this would give away to much about your business model.

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pirateat40
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"Yes I am a pirate, 200 years too late."


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May 21, 2012, 11:25:18 PM
 #37

I have a good question. Could whatever you are doing bring increased awareness to Bitcoin, or is it somewhat confined within the existing community?



That's really a hard question to answer because you never really know how much you're actually doing to drive the market.  I can tell you that GPUMAX alone is used by people in over 80 counties and gamers from all over the world.  While BTCS&T moves more than 300,000 bitcoins a month.  

Now, I could stop for a month and see how the market reacts if you want to test it. Smiley

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May 21, 2012, 11:25:50 PM
 #38

Thank you for the update.

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pirateat40
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"Yes I am a pirate, 200 years too late."


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May 21, 2012, 11:29:08 PM
 #39

He doesn't have to run a Ponzi on his own - my guess is still that he "invests" in some Ponzi/pyramid game like MMM. If you read carefully, he never denied that, only that he doesn't Ponzi himself.

I can't believe I missed this one.   None of my dealing have anything to do with, related to or managed by anyone running a Ponzi scheme.

P.S. I do like how you read between the lines though, you should be a lawyer or one of my public relations people. Smiley

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May 21, 2012, 11:29:34 PM
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Very interesting!

One day I hope to be as successful as you.
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