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Author Topic: [BitcoinMax.com] Closed  (Read 188948 times)
robocoin
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August 17, 2012, 08:39:44 PM
 #1141

I figured the opposite: that the price spike was due to him buying BTC to face the wave of withdrawals...

This.
We just made it from 10,60$ up to 12,34$, OMG!
More than 90,000BTC was bought in the last miutes.
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notme
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August 17, 2012, 08:40:47 PM
 #1142

Watching prices tank is painful right now.

I skipped the past couple pages after reading 10 of speculation. Are Mondays interest payments going out or is that not going to happen?

Nothing official from the boss yet, but Pirate will begin paying out Monday and should be done within a week.  When Payb.tc gets his funds, he will likely be paying out everything.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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Haplo
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August 17, 2012, 08:52:27 PM
 #1143

me: pirate should offer CDs to reduce his adverse liquidity exposure.

everyone else: fuck you dude, you're just a greedy asshole, I want my money all the time. The lower rates will balance out everything so it doesn't cut into his profits! 4.9% is still awesome!!

pirate: the interest rate cuts caused an unexpected flood of withdrawal requests, so I'm shutting down BS&T and returning all funds starting monday.

everyone else: 0H T3H N035!!1one

me: ...I hate you.

I'm So Meta, Even This Acronym
hgmichna
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August 17, 2012, 08:53:25 PM
 #1144

Wow, lots of people believe they will see their funds again  Undecided

I was going to say.

Stunning, isn't it? After all these very clear and explicit warnings.

By the way, the current bitcoin price drop may have been caused by the pirate selling his last bitcoins. Just speculating.

I can only repeat this wonderful quote from the movie "Aliens" (1986):

Hudson: That's it man, game over man, game over! What the fuck are we gonna do now? What are we gonna do?

Burke: Maybe we could build a fire, sing a couple of songs, huh? Why don't we try that?
BitLucky
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August 17, 2012, 09:02:39 PM
 #1145

Wow, lots of people believe they will see their funds again  Undecided

I was going to say.

Stunning, isn't it? After all these very clear and explicit warnings.

By the way, the current bitcoin price drop may have been caused by the pirate selling his last bitcoins. Just speculating.

Yeah I agree, although I think the recent drop in price is due to panic selling. Surely Pirate wouldn't sell the BTC after his announcement?
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August 17, 2012, 09:04:48 PM
 #1146

But I think there is some chance of a return of investment... although not worthy of thanking pirate at this stage lmao  Grin
Coin.Karma
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August 17, 2012, 09:08:47 PM
 #1147

Wow, lots of people believe they will see their funds again  Undecided

I was going to say.

Stunning, isn't it? After all these very clear and explicit warnings.

By the way, the current bitcoin price drop may have been caused by the pirate selling his last bitcoins. Just speculating.

I can only repeat this wonderful quote from the movie "Aliens" (1986):

M*****N : That's it man, game over man, game over! What the fuck are we gonna SPREAD FUD now? What are we gonna do?

shills : Maybe we could build a fire, sing a couple of songs, huh? Why don't we try that?

rock on brother, you are officially in the shitlist
hgmichna
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August 17, 2012, 09:12:37 PM
 #1148

Wow, lots of people believe they will see their funds again  Undecided

I was going to say.

Stunning, isn't it? After all these very clear and explicit warnings.

By the way, the current bitcoin price drop may have been caused by the pirate selling his last bitcoins. Just speculating.

Yeah I agree, although I think the recent drop in price is due to panic selling. Surely Pirate wouldn't sell the BTC after his announcement?

Because he was hoping to operate his Ponzi scheme for longer, he may still have held some bitcoins for short-term liquidity. Now that he has seen people clamoring for their money, he had to shut down and launder these remaining bitcoins by selling them off.

Needless to say, few "investors" or perhaps nobody will see their bitcoins back. He will now say, I have an unexpected number of withdrawal requests; fulfilling them will take some time, etc. He might even fulfill a few small requests to buy himself some more time. But then it's game over.
layyen
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August 17, 2012, 09:29:34 PM
 #1149

does it mean, that you (payb.tc) on monday or in some days later, receive your and our money, then you will make complete payout for everyone ? and bitcoinmax will be closed ?
conspirosphere.tk
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August 17, 2012, 09:33:27 PM
 #1150

few "investors" or perhaps nobody will see their bitcoins back. He will now say, I have an unexpected number of withdrawal requests; fulfilling them will take some time, etc. He might even fulfill a few small requests to buy himself some more time. But then it's game over.

Why the hassle of making announcements then? If it was just a ponzi coming down it would have been better to just vanish in the air with the whole loot a.s.a.p.

My tinfoil hat is way bigger than yours.
BadBear
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August 17, 2012, 09:38:04 PM
 #1151

few "investors" or perhaps nobody will see their bitcoins back. He will now say, I have an unexpected number of withdrawal requests; fulfilling them will take some time, etc. He might even fulfill a few small requests to buy himself some more time. But then it's game over.

Why the hassle of making announcements then? If it was just a ponzi coming down it would have been better to just vanish in the air with the whole loot a.s.a.p.

Well there's already people making a stink about withdrawals, he's gotta tell them something. Like you said, if it were a ponzi.

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Haplo
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August 17, 2012, 09:44:40 PM
 #1152

Needless to say, few "investors" or perhaps nobody will see their bitcoins back. He will now say, I have an unexpected number of withdrawal requests; fulfilling them will take some time, etc. He might even fulfill a few small requests to buy himself some more time. But then it's game over.

lol, if everyone gets their money back in the next week or two, will you promise to stfu for the rest of forever?

I'm So Meta, Even This Acronym
Sp0tter
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August 17, 2012, 09:45:00 PM
 #1153

I propose that bitcoin max pay out the withdraws posted before the time of the official closing of the BTCST, and then in order of account age.  (When his block grants from pirate come...)

http://allchains.info - First to provide difficulty estimates for forks.
BCbitcoin
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August 17, 2012, 10:03:08 PM
 #1154

I propose that bitcoin max pay out the withdraws posted before the time of the official closing of the BTCST, and then in order of account age.  (When his block grants from pirate come...)

Generally, in these circumstances, initial deposits are paid back to everyone before any interest is paid out.
silverbox
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August 17, 2012, 10:15:46 PM
 #1155

I think any partial payments made by pirate to bitcoinmax should be distributed evenly by percentage to all accounts.

Its the fairest way to do things.
conspirosphere.tk
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August 17, 2012, 10:18:08 PM
 #1156

I think any partial payments made by pirate to bitcoinmax should be distributed evenly by percentage to all accounts.
Its the fairest way to do things.

+ 1

My tinfoil hat is way bigger than yours.
BCbitcoin
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August 17, 2012, 10:28:14 PM
 #1157

Payments of initial deposits should be distributed as an even percentage to everyone as they arrive. No account should receive an amount greater than (total deposits - total withdrawals) before everyone's initial deposit is returned.

drakahn
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August 17, 2012, 10:29:40 PM
 #1158

... withdraw requests from before pirate closed could be filled first >.>

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Soros Shorts
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August 17, 2012, 10:33:18 PM
 #1159

Payments of initial deposits should be distributed as an even percentage to everyone as they arrive. No account should receive an amount greater than (total deposits - total withdrawals) before everyone's initial deposit is returned.


That's not possible. Some accounts have already withdrawn more than the total principal deposited.
this time
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August 17, 2012, 10:34:48 PM
 #1160

... withdraw requests from before pirate closed could be filled first >.>

Yes, but only of initial deposits. Otherwise you are essentially taking money from the other depositors.
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