Bitcoin Forum
December 05, 2016, 02:44:35 PM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 2 3 4 5 6 7 8 9 10 11 [12] 13 14 15 16 17 18 19 »  All
  Print  
Author Topic: A day in the life of a pirate.  (Read 28278 times)
rdponticelli
Sr. Member
****
Offline Offline

Activity: 326


Our highest capital is the Confidence we build.


View Profile
May 24, 2012, 10:21:56 PM
 #221

I'm curious who takes on BTC debt? Obviously Pirate does, but who else, and for what purposes?

Mostly miners who have incomes denominated in bitcoin.

And any BTC business, surely. Taking a debt in BTC would make sense to anybody who expects a predictable return on BTC...
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
Vladimir
Hero Member
*****
Offline Offline

Activity: 812


-


View Profile
May 24, 2012, 10:25:03 PM
 #222

I'm a lazy starfish, and I know where my talents are.  And while I know of ways to use bitcoin to make higher returns, that's simply not my best field of operation.  I'll stick to 200% to 300% per year.

I am in complete agreeement with Patrick. The bitcoin lending scene is highly profitable.

I am in complete agreement with both of you too. With one caveat: past performance does not guarantee future results

Let's just wait and see how this market will react on demise of MMM and on BTC volatility, specifically on upside.

-
jamesg
VIP
Legendary
*
Offline Offline

Activity: 1330


AKA: gigavps


View Profile
May 24, 2012, 10:49:45 PM
 #223

I am in complete agreement with both of you too. With one caveat: past performance does not guarantee future results

Let's just wait and see how this market will react on demise of MMM and on BTC volatility, specifically on upside.

Well, looking at current interest rates, it would seem some of this is priced in. A month is a long time in BTC land. Not that long ago we were having 20% moves in a single day

As for your MMM theories, put you coin where you mouth is -> http://betsofbitco.in/item?id=349
PatrickHarnett
Hero Member
*****
Offline Offline

Activity: 518



View Profile
May 24, 2012, 11:03:56 PM
 #224

What's MMM? Don't know, don't care. 

I have most funds/loans related to physical goods and services, and the volatility in the market (even last year) was prosaic.  The business being established independent of gambling/ponzi/random chance.

Is it so hard to understand if you want to go down the BTC route, you don't care about volatility because there is none - it is always 1 BTC to 1 bitcoin.  How much do you take notice of EUR/GBP/JPY/UDS volatility?  I tend to worry about that a little more, and that's why I track cross rates every day - but normally ignore BTC/USD rates.
Vladimir
Hero Member
*****
Offline Offline

Activity: 812


-


View Profile
May 24, 2012, 11:10:52 PM
 #225

What is so difficult to understand here?

Your borrowers whatever they say to you could simply funnel borrowed money to a ponzi scheme. You do not need to know about it, and your borrowers would not tell you. Once the master ponzi implodes they default on your loans. Do defaults concern you?

More importantly, the higher your interest rates the less chances that they funnel it to anything else but a ponzi scheme.

BTC rises, your borrowers who converted BTC into USD are unable to pay off your loans they default. This does not concerns you too apparently.

And note that I am not really talking about specifically your borrowers and your business, more about the whole BTC lending marketplace.



-
pirateat40
Avast Ye!
Sr. Member
****
Offline Offline

Activity: 378


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


View Profile WWW
May 24, 2012, 11:12:17 PM
 #226

What is so difficult to understand here?

Your borrowers whatever they say to you could simply funnel borrowed money to a ponzi scheme. You do not need to know about it, and your borrowers would not tell you. Once the master ponzi implodes they default on your loans. Do defaults concern you?

BTC rises, your borrowers who converted BTC into USD are unable to pay off your loans they default. This does not concerns you too apparently.

And note that I am not really talking about specifically your borrowers and your business, more about the whole BTC lending marketplace.




With all this Ponzi talk, you make me want to start one.  Who's up for a pirate style Ponzi?

Vladimir
Hero Member
*****
Offline Offline

Activity: 812


-


View Profile
May 24, 2012, 11:16:40 PM
 #227

Thank you all and sorry for annoying you guys. It was fun.  Grin

I now will be leaving this thread until "I told you so" moment arrives. Take care.



-
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
May 24, 2012, 11:24:15 PM
 #228

Thank you all and sorry for annoying you guys. It was fun.  Grin

I now will be leaving this thread until "I told you so" moment arrives. Take care.




it is bound to happen.
jamesg
VIP
Legendary
*
Offline Offline

Activity: 1330


AKA: gigavps


View Profile
May 24, 2012, 11:25:13 PM
 #229

Do defaults concern you?

I do not think default would be a concern if one had already earn their investment back in interest payments.
PatrickHarnett
Hero Member
*****
Offline Offline

Activity: 518



View Profile
May 24, 2012, 11:29:25 PM
 #230

What is so difficult to understand here?

Your borrowers whatever they say to you could simply funnel borrowed money to a ponzi scheme. You do not need to know about it, and your borrowers would not tell you. Once the master ponzi implodes they default on your loans. Do defaults concern you?

More importantly, the higher your interest rates the less chances that they funnel it to anything else but a ponzi scheme.

BTC rises, your borrowers who converted BTC into USD are unable to pay off your loans they default. This does not concerns you too apparently.

And note that I am not really talking about specifically your borrowers and your business, more about the whole BTC lending marketplace.




lol - I don't expect you to understand my business, and I don't need you to.  It's not too different to the other main lenders either.  What's most entertaining is the assumption that I indirectly fund ponzis when the evidence is to the contrary.  As an example:

1: I send coins to member B.
2: Member B sends GPUs to member G.
3: Member G pays me.
4: Despite this transaction, someone assumes member G is using coins they never touch to invest in a ponzi.

I have had loans where the BTC has doubled during the course of the loan.  The borrower was repaying in BTC from income generated in bitcoin.  The sooner people start working in one currency, the easier it is to understand.  If you keep worrying about BTC/GBP or BTC/USD prices, you'll inhibit your own activity and bitcoin in general.

If people can't understand something this simple and transparent, there is no way they are going to follow what Pirate is doing.  As for the "told you so" moment, at that stage I'll wipe a few thousand coins off my balance (currently 20% of my holdings are in BS&T).

Arrrrgh - the lazy Starfish
wachtwoord
Legendary
*
Offline Offline

Activity: 1484



View Profile WWW
May 24, 2012, 11:32:04 PM
 #231

Do defaults concern you?

I do not think default would be a concern if one had already earn their investment back in interest payments.

Why not?

Plus, how can it compound if you keep your interest payments? Wink

malaimult
Hero Member
*****
Offline Offline

Activity: 658



View Profile
May 24, 2012, 11:32:57 PM
 #232

ok so the debate gone a little off topic i suggest someone will make a vote poll and people should vote if pirateat40 sells drugs, launders money ponzy schemes etc or its just a clever dude.

lets see what the voters opinion

wachtwoord
Legendary
*
Offline Offline

Activity: 1484



View Profile WWW
May 24, 2012, 11:35:42 PM
 #233

ok so the debate gone a little off topic i suggest someone will make a vote poll and people should vote if pirateat40 sells drugs, launders money ponzy schemes etc or its just a clever dude.

lets see what the voters opinion

Who cares? The majority of the people aren't very bright so voting will never lead to an optimal solution. That's why our retarded implementation o the democracy doesn't work as well Smiley

malaimult
Hero Member
*****
Offline Offline

Activity: 658



View Profile
May 24, 2012, 11:37:40 PM
 #234

 Grin nice1  well we cut 10% from all voters

HorseRider
Donator
Legendary
*
Offline Offline

Activity: 1582


View Profile
May 25, 2012, 12:16:49 AM
 #235

Do defaults concern you?

I do not think default would be a concern if one had already earn their investment back in interest payments.

You do concerns, right? Don't you want to be a 100% winner?

16SvwJtQET7mkHZFFbJpgPaDA1Pxtmbm5P
HorseRider
Donator
Legendary
*
Offline Offline

Activity: 1582


View Profile
May 25, 2012, 12:27:46 AM
 #236

gigavps, hmm, interesting, thanks.

You are quite welcome. These facts are well known to bitcoin lenders. I will even save you the scolding for banishing yourself from the bitcointalk forums.  Wink

Lending bitcoins is quite a profitable business. There are a number of big lenders who have distinguished themselves and are doing quite well.
Yes, as profitable as LB and BS were before the financial crisis started in the summer of 2007.

16SvwJtQET7mkHZFFbJpgPaDA1Pxtmbm5P
finkleshnorts
Sr. Member
****
Offline Offline

Activity: 336



View Profile
May 25, 2012, 12:30:55 AM
 #237

Do defaults concern you?

I do not think default would be a concern if one had already earn their investment back in interest payments.

+1
FredericBastiat
Sr. Member
****
Offline Offline

Activity: 420


View Profile
May 25, 2012, 04:03:59 AM
 #238

OK so you dared me to throw down. Here's an easy idea I was personally aware of due to my friendship with my boss. He ran an outbound call center for a few years. One of his really good money makers was political campaign polling.

Problem was he couldn't predict how much calling he was going to do in time to go live before the evening news. He couldn't hire employees to match demand either because he tended to overshoot. This required him to hire temps. The pay always seemed to be out of sync with the pollster companies.

He had to pay his temps when he let them go so it left him short changed. In comes the bailout. You cover the payroll and take a cut. I was privy to several double digit percentage gains. The time frames for these deals ranged between 1 to 2 weeks. Do the math.

http://payb.tc/evo or
1F7venVKJa5CLw6qehjARkXBS55DU5YT59
ineededausername
Hero Member
*****
Offline Offline

Activity: 784


bitcoin hundred-aire


View Profile
May 25, 2012, 04:28:19 AM
 #239

https://bitcointalk.org/index.php?topic=83566.0 Smiley

(BFL)^2 < 0
Bitsinmyhead
Sr. Member
****
Offline Offline

Activity: 376


View Profile
May 25, 2012, 07:13:26 AM
 #240

Do defaults concern you?

I do not think default would be a concern if one had already earn their investment back in interest payments.

Anyone wonders why bitcoin is a scammers paradise?
Right there is the answer my friends...

Trade Bitcoin using credit card and with 4:1 leverage at plus500.
Sign up through: http://www.plus500.com/?id=67176&pl=2 for €25 free, or become an affiliate here: http://www.500affiliates.com/?id=67176
Pages: « 1 2 3 4 5 6 7 8 9 10 11 [12] 13 14 15 16 17 18 19 »  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!