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Author Topic: [BitcoinMax.com] Closed  (Read 184230 times)
payb.tc
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August 22, 2012, 09:38:10 PM
 #1401

if pirate doesnt pay up whats your plan for the coins your holding?

Its obvious, if hes holding any coins, they should go back to the person that sent them.. no one else...

perhaps it's not obvious, but if you've been paying attention to this thread, and to the rules of bitcoinmax, the *amount* you send is effectively tied up in BST immediately, even if the *coins* you send are still in my wallet.

i'll dig up the relevant post so people can get their head around this.
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payb.tc
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August 22, 2012, 09:41:25 PM
 #1402

following on from the previous post, i just want to make one point clear:

your investment is 100% exposed to BST as soon as you send it to me, regardless of where the outputs of your actual transaction get spent.


whats are your take on to what kind of service BCST is providing to its clients and therefore the risk exposure to your buiseness and that of your lenders?

Cheers Zyk

P.S.  you mean if pirate goes bust you are free of returning principal ?

my take is that it works, so i don't really concern myself with trying to find out why it works. if pirate really wanted us to know, he'd tell us.

and yes i'm free of returning principal: your principal 'amount' is with BST.

an example of that would be let's say to start with i have 200 btc which i keep here:

BST wallet   100   i own 100% of these coins
My wallet   100   i own 100% of these coins

then, a bitcoinmax lender decides to invest 40 btc (sending it to MY wallet), the ownership changes immediately to:

BST wallet   100   i own 60 of these coins, and the bitcoinmax lender owns the other 40
My wallet   140   i own 100% of these coins

then if BST stops paying, i've lost 60 btc, and the bitcoinmax lender has lost 40 btc, even though the actual 40 bitcoins that he sent are still unspent in my own personal wallet.


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August 22, 2012, 09:54:41 PM
 #1403


perhaps it's not obvious, but if you've been paying attention to this thread, and to the rules of bitcoinmax, the *amount* you send is effectively tied up in BST immediately, even if the *coins* you send are still in my wallet.

i'll dig up the relevant post so people can get their head around this.


Just to point out, it's tough finding the good stuff in this thread due to massive trolling.

Some mods have stated they'll enforce "local rules" if you proclaim it business only, so I advise it as a good method to keep your next business thread declared with local rules explaining what belongs in that thread so Moderation will actually keep it clean.

So they say.
bigasic
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August 22, 2012, 10:00:56 PM
 #1404

I agree with the coins that had it the account. I don't know how long it takes you to pass it thru, but if someone invested 100 coins an hour before the announcement and you still had them in your account before you knew about the closing, wouldnt it be the most ethical thing to send them right back?

I totally get it once they are out of your hands.. I guess we are talking about a pretty small number, so, its not that big of deal, to me anyways... I mean, to your knowledge where there any deposits refused and sent back? i guess thats what im really getting at... really after the announcement, according to pirate, he said that they would be returned..
RoloTonyBrownTown
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August 22, 2012, 10:04:59 PM
 #1405

I'm Just waiting until payb.tc find a new way for us to participate in future bitcoin investisment ...I will be part of it if our pirate-funds are coming back or not ...

Bitcoinmax is just too good!

actually i have an idea up my sleeve and will be coding something all weekend...

i just don't have much time here at the moment.


Be sure to let me know when you're ready Smiley

payb.tc
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August 22, 2012, 10:56:17 PM
 #1406

I agree with the coins that had it the account. I don't know how long it takes you to pass it thru, but if someone invested 100 coins an hour before the announcement and you still had them in your account before you knew about the closing, wouldnt it be the most ethical thing to send them right back?

the most ethical thing would be to stick to the terms of the agreement: 100% exposure, no insurance or guarantees. i think Vladimir quoted the original faq somewhere too.

I totally get it once they are out of your hands.. I guess we are talking about a pretty small number, so, its not that big of deal, to me anyways... I mean, to your knowledge where there any deposits refused and sent back? i guess thats what im really getting at... really after the announcement, according to pirate, he said that they would be returned..

i don't know if any BST deposits got returned, i didn't 'test' this myself as i had no reason to.
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August 22, 2012, 10:57:04 PM
 #1407

I'm Just waiting until payb.tc find a new way for us to participate in future bitcoin investisment ...I will be part of it if our pirate-funds are coming back or not ...

Bitcoinmax is just too good!

actually i have an idea up my sleeve and will be coding something all weekend...

i just don't have much time here at the moment.


Be sure to let me know when you're ready Smiley

thanks, will do Cheesy
bigasic
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August 22, 2012, 11:02:43 PM
 #1408

I agree with the coins that had it the account. I don't know how long it takes you to pass it thru, but if someone invested 100 coins an hour before the announcement and you still had them in your account before you knew about the closing, wouldnt it be the most ethical thing to send them right back?

the most ethical thing would be to stick to the terms of the agreement: 100% exposure, no insurance or guarantees. i think Vladimir quoted the original faq somewhere too.

I totally get it once they are out of your hands.. I guess we are talking about a pretty small number, so, its not that big of deal, to me anyways... I mean, to your knowledge where there any deposits refused and sent back? i guess thats what im really getting at... really after the announcement, according to pirate, he said that they would be returned..

i don't know if any BST deposits got returned, i didn't 'test' this myself as i had no reason to.


Ahh, okay, then. Yes, I totally agree with you as the terms then.. I was thinking of those that didn't read the announcement that he was closing and then happen to invest. those that did it before, they should live or die by the terms... wether it was 1 sec before that or 12 months...
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August 22, 2012, 11:43:16 PM
 #1409

Now that the original OP is drawn away and the FAQ too,  may there be some FAQ, how bitcoinmax handles

the passthrough of coins and in what order, if there  are coming any in from pirate as its heard that there are dripping some already....?

Are bitcoinmax lenders really all patsys Wink ?

Thanks Zyk


payb.tc
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August 23, 2012, 12:01:34 AM
 #1410

Now that the original OP is drawn away and the FAQ too,  may there be some FAQ, how bitcoinmax handles

the passthrough of coins and in what order, if there  are coming any in from pirate as its heard that there are dripping some already....?

Are bitcoinmax lenders really all patsys Wink ?

Thanks Zyk




this is the most frequently asked question:

q. are we there yet?
a. no


also, to those who have PM'd me regarding changes of account ownership, i will attend to your requests before making any payments, so don't worry if i haven't updated your account yet.
zyk
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August 23, 2012, 12:19:17 AM
 #1411

The payout order is important to determine the market value off the defaulted accounts.

The wherewithall is not able to be hidden anymore, so yes we are there already  and there are to

come more hythethical questions, one should get ones sleepless head around.

Cheers Zyk

RoloTonyBrownTown
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August 23, 2012, 12:33:52 AM
 #1412

Hi gents,

Happy to buy accounts at 50% at the moment if anyone is interested Smiley  Everything will need to be verified by paybt.c (if that's ok mate?) before going ahead.

Give me a shout if keen.

payb.tc
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August 23, 2012, 12:55:57 AM
 #1413

The payout order is important to determine the market value off the defaulted accounts.

The wherewithall is not able to be hidden anymore, so yes we are there already  and there are to

come more hythethical questions, one should get ones sleepless head around.

Cheers Zyk



from what i understand, pirate will be sending the coins to me all at once... in 1 big transaction.

i'm going to be processing payouts one at a time anyway, to make sure no mistakes occur, so this will naturally be in order of USER ID# which basically means account age.

this process will likely take me a while, so even after pirate pays me, please don't expect your coins immediately... i'll get them done as fast as i can.

i still need to make sure account-ownership changes are up-to-date too.
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August 23, 2012, 01:00:58 AM
 #1414

from what i understand, pirate will be sending the coins to me all at once... in 1 big transaction.

Sounds rock solid. buying bitcoinmax accounts is a good bet now.  Roll Eyes

College of Bucking Bulls Knowledge
RoloTonyBrownTown
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August 23, 2012, 01:02:42 AM
 #1415

from what i understand, pirate will be sending the coins to me all at once... in 1 big transaction.

Sounds rock solid. buying bitcoinmax accounts is a good bet now.  Roll Eyes

Want to sell yours? Smiley

ErebusBat
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August 23, 2012, 01:06:32 AM
 #1416

from what i understand, pirate will be sending the coins to me all at once... in 1 big transaction.

Sounds rock solid. buying bitcoinmax accounts is a good bet now.  Roll Eyes

Want to sell yours? Smiley
Might be helpful to state the rates you are paying.

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RoloTonyBrownTown
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August 23, 2012, 01:10:19 AM
 #1417

from what i understand, pirate will be sending the coins to me all at once... in 1 big transaction.

Sounds rock solid. buying bitcoinmax accounts is a good bet now.  Roll Eyes

Want to sell yours? Smiley
Might be helpful to state the rates you are paying.


Four posts that way ^^^

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August 23, 2012, 01:12:12 AM
 #1418

from what i understand, pirate will be sending the coins to me all at once... in 1 big transaction.

Sounds rock solid. buying bitcoinmax accounts is a good bet now.  Roll Eyes

Want to sell yours? Smiley

I sure wish I had one to sell you. Oh wait, nm it would only be worth 50% my deposit. Glad I kept my BTC at 100% face. yup, still here in my wallet. *phew*


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RoloTonyBrownTown
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August 23, 2012, 01:13:14 AM
 #1419

from what i understand, pirate will be sending the coins to me all at once... in 1 big transaction.

Sounds rock solid. buying bitcoinmax accounts is a good bet now.  Roll Eyes

Want to sell yours? Smiley

I sure wish I had one to sell you. Oh wait, nm it would only be worth 50% my deposit. Glad I kept my BTC at 100% face. yup, still here in my wallet. *phew*



Sweet, back on ignore then Smiley

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August 23, 2012, 01:16:44 AM
 #1420

from what i understand, pirate will be sending the coins to me all at once... in 1 big transaction.

i'm going to be processing payouts one at a time anyway, to make sure no mistakes occur, so this will naturally be in order of USER ID# which basically means account age.

this process will likely take me a while, so even after pirate pays me, please don't expect your coins immediately... i'll get them done as fast as i can.

i still need to make sure account-ownership changes are up-to-date too.
When the coin comes in, would you mind posting that you received them, and that the balance you received, covers the balance of the outstanding accounts you have to be paid out?

I don't see where we need the number, but just an assurance that you have the full amount, so those of us who joined late, are reassured, that we're ok?

-- Smoov
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