Bitcoin Forum
December 03, 2016, 09:55:24 PM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Poll
Question: Which passthrough should I use to keep the 6.5% interest?
Hashking - https://bitcointalk.org/index.php?topic=82574.0 - 1 (3.1%)
payb.tc - https://bitcointalk.org/index.php?topic=83904.0 - 5 (15.6%)
ineededausername - https://bitcointalk.org/index.php?topic=91375.0 - 0 (0%)
Chaang Noi (Goat) - https://bitcointalk.org/index.php?topic=82573.0 - 9 (28.1%)
I don't care - 12 (37.5%)
No passthrough but with a lower 4.5% interest - 5 (15.6%)
Total Voters: 32

Pages: [1] 2 3 4 5 6 »  All
  Print  
Author Topic: LTCPPT - Litecoin Pirate Pass Through (CLOSED)  (Read 10257 times)
coblee
Donator
Legendary
*
Offline Offline

Activity: 1078


firstbits.com/1ce5j


View Profile WWW
July 02, 2012, 09:00:04 PM
 #1

I'm starting a pirate pass through program where you would deposit bitcoins with me. I will then deposit those bitcoins into pirateat40's BTCST program. And every week, I will pay interest in LTC. I think this is a good way for someone to accumulate litecoins and it will help increase Litecoin prices.

There's some risk with this program. If pirate defaults, you will lose your bitcoins as I'm not in a position to guarantee that pirate's program is not a Ponzi scheme. Though I believe that he's not and I have backed that belief by putting a lot of coins of my own with him. Of course there's also risk of me running away with your coins. But I hope people trust me enough not to do that.

Some info about the program:
  • Deposits should be made in multiples of 50 btc
  • Interest rate will be 6.5%/week.
  • All depositors will be listed in this anonymized payouts spreadsheet: http://ltcppt.com
  • Interests payment will be made on Mondays after pirate pays his interest.
  • I will buy the litecoins on an exchange throughout the week and will average out the exchange rate for everyone. I will be fair about it, but you kind of have to trust me there.
  • The interest for the first week will be prorated (in granularity of days) based on when you deposited the coins.
  • In the event interest payments are lost due to exchanges being hacked or running away with coins, I will absorb the lost and the depositors will still get their interest payments.
  • If you need to withdraw, just let me know. It will take me some time depending on how fast I can withdraw from pirate. Should be <24 hrs.
  • Your funds may be forced withdrawn if pirate forces a withdraw on me.
  • If Pirate defaults, I would not be able to return your principle to you.
  • Terms are subject to change if pirate changes his terms.

For now, I have a minimum deposit amount of 50 BTC. If you are interested, please PM me with a BTC withdrawal address and an LTC interest payment address. And I will send you a BTC address for deposits.

EDIT: On 8/13/2012, Pirate is switching to a new account system. With the new accounts, I am no longer able to get 7% a week. So in order to keep the 6.5% a week payout, I will be using another passthrough. There is now an added risk of the other passthrough stealing your coins. If that happens, I would not be able to return your principle.

You can also choose the option of accepting a lower weekly return (4.5%) but have no additional risk of another passthrough. If I decide to put your coins in a passthrough, I will take on the full risk of it. So your coin is only at risk of a Pirate default. If the passthrough I choose steals the coins, I will pay them back to you out of my pocket. If you want to take this option, please let me know.

EDIT2: I will be using payb.tc's BitcoinMax.

EDIT3: Looks like Pirate is lowing his rates on 8/20. With the new rates, LTCPPT would likely pay out 4.5%. Stay tuned.

EDIT4: All deposits and interests paid out.

Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480802124
Hero Member
*
Offline Offline

Posts: 1480802124

View Profile Personal Message (Offline)

Ignore
1480802124
Reply with quote  #2

1480802124
Report to moderator
1480802124
Hero Member
*
Offline Offline

Posts: 1480802124

View Profile Personal Message (Offline)

Ignore
1480802124
Reply with quote  #2

1480802124
Report to moderator
Litecoin
Full Member
***
Offline Offline

Activity: 126


View Profile
July 02, 2012, 09:17:05 PM
 #2

I'm thinking of starting a pirate pass through program where you would deposit bitcoins with me. I will then deposit those bitcoins into pirateat40's BTCST program. And every week, I will pay interest in LTC. I think this is a good way for someone to accumulate litecoins and it will help increase Litecoin prices.

Interest rate will probably be 4.5% a week. The risk is if pirate defaults, you will lose your bitcoins. Of course there's also risk of me running away with your coins. But I hope people trust me enough not to do that.

Any interest?

What are the chances of losing my coins?
smoothie
Legendary
*
Offline Offline

Activity: 1834


LEALANA Monero Physical Silver Coins


View Profile
July 02, 2012, 09:18:21 PM
 #3

I'm thinking of starting a pirate pass through program where you would deposit bitcoins with me. I will then deposit those bitcoins into pirateat40's BTCST program. And every week, I will pay interest in LTC. I think this is a good way for someone to accumulate litecoins and it will help increase Litecoin prices.

Interest rate will probably be 4.5% a week. The risk is if pirate defaults, you will lose your bitcoins. Of course there's also risk of me running away with your coins. But I hope people trust me enough not to do that.

Any interest?

What are the chances of losing my coins?

800k %

███████████████████████████████████████

            ,╓p@@███████@╗╖,           
        ,p████████████████████N,       
      d█████████████████████████b     
    d██████████████████████████████æ   
  ,████²█████████████████████████████, 
 ,█████  ╙████████████████████╨  █████y
 ██████    `████████████████`    ██████
║██████       Ñ███████████`      ███████
███████         ╩██████Ñ         ███████
███████    ▐▄     ²██╩     a▌    ███████
╢██████    ▐▓█▄          ▄█▓▌    ███████
 ██████    ▐▓▓▓▓▌,     ▄█▓▓▓▌    ██████─
           ▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌          
           ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌          
    ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓─  
     ²▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩    
        ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀       
           ²▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀`          
                   ²²²                 
███████████████████████████████████████

. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.        SMOOTHIE'S HEALTH AND FITNESS JOURNAL          History of Monero development Visualization ★☆ .
LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
Greedi
Sr. Member
****
Offline Offline

Activity: 266


LitecoinTalk


View Profile WWW
July 02, 2012, 09:21:37 PM
 #4

I'm in!

I trust you 120%

LitecoinTalk - Sign up today!
Try out LTC-Aarade!
Buy Shares!
coblee
Donator
Legendary
*
Offline Offline

Activity: 1078


firstbits.com/1ce5j


View Profile WWW
July 02, 2012, 10:15:48 PM
 #5

Is a minimum deposit of 100btc reasonable? Cause I would rather not deal with many small accounts.

Litecoin
Full Member
***
Offline Offline

Activity: 126


View Profile
July 02, 2012, 10:22:10 PM
 #6

I'm thinking of starting a pirate pass through program where you would deposit bitcoins with me. I will then deposit those bitcoins into pirateat40's BTCST program. And every week, I will pay interest in LTC. I think this is a good way for someone to accumulate litecoins and it will help increase Litecoin prices.

Interest rate will probably be 4.5% a week. The risk is if pirate defaults, you will lose your bitcoins. Of course there's also risk of me running away with your coins. But I hope people trust me enough not to do that.

Any interest?

What are the chances of losing my coins?

800k %

If you have nothing to say, why post crap?
Garr255
Legendary
*
Offline Offline

Activity: 952


What's a GPU?


View Profile
July 02, 2012, 10:25:28 PM
 #7

Is a minimum deposit of 100btc reasonable? Cause I would rather not deal with many small accounts.

I think 50btc would allow a substantially higher number of people to participate.

Either way, I'm in.

“First they ignore you, then they laugh at you, then they fight you, then you win.”  -- Mahatma Gandhi

Average time between signing on to bitcointalk: Two weeks. Please don't expect responses any faster than that!
Garr255
Legendary
*
Offline Offline

Activity: 952


What's a GPU?


View Profile
July 02, 2012, 10:26:24 PM
 #8

Maybe you can bribe payb.tc for use of his system.

“First they ignore you, then they laugh at you, then they fight you, then you win.”  -- Mahatma Gandhi

Average time between signing on to bitcointalk: Two weeks. Please don't expect responses any faster than that!
coblee
Donator
Legendary
*
Offline Offline

Activity: 1078


firstbits.com/1ce5j


View Profile WWW
July 02, 2012, 10:27:14 PM
 #9

Is a minimum deposit of 100btc reasonable? Cause I would rather not deal with many small accounts.

100LTC you meant? Yeah, that sounds reasonable.

No, i meant 100 BTC and every week you will get litecoins equivalent of 4.5 BTC. I realize 100 BTC might be a lot for some people. So that's why I'm asking.

coblee
Donator
Legendary
*
Offline Offline

Activity: 1078


firstbits.com/1ce5j


View Profile WWW
July 02, 2012, 10:28:17 PM
 #10

Maybe you can bribe payb.tc for use of his system.

What's payb.tc's system?

smoothie
Legendary
*
Offline Offline

Activity: 1834


LEALANA Monero Physical Silver Coins


View Profile
July 02, 2012, 10:34:06 PM
 #11

I'm thinking of starting a pirate pass through program where you would deposit bitcoins with me. I will then deposit those bitcoins into pirateat40's BTCST program. And every week, I will pay interest in LTC. I think this is a good way for someone to accumulate litecoins and it will help increase Litecoin prices.

Interest rate will probably be 4.5% a week. The risk is if pirate defaults, you will lose your bitcoins. Of course there's also risk of me running away with your coins. But I hope people trust me enough not to do that.

Any interest?

What are the chances of losing my coins?

800k %

If you have nothing to say, why post crap?

chill bro...laugh =) Grin Grin

███████████████████████████████████████

            ,╓p@@███████@╗╖,           
        ,p████████████████████N,       
      d█████████████████████████b     
    d██████████████████████████████æ   
  ,████²█████████████████████████████, 
 ,█████  ╙████████████████████╨  █████y
 ██████    `████████████████`    ██████
║██████       Ñ███████████`      ███████
███████         ╩██████Ñ         ███████
███████    ▐▄     ²██╩     a▌    ███████
╢██████    ▐▓█▄          ▄█▓▌    ███████
 ██████    ▐▓▓▓▓▌,     ▄█▓▓▓▌    ██████─
           ▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌          
           ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌          
    ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓─  
     ²▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩    
        ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀       
           ²▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀`          
                   ²²²                 
███████████████████████████████████████

. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.        SMOOTHIE'S HEALTH AND FITNESS JOURNAL          History of Monero development Visualization ★☆ .
LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
smoothie
Legendary
*
Offline Offline

Activity: 1834


LEALANA Monero Physical Silver Coins


View Profile
July 02, 2012, 10:38:17 PM
 #12

Coblee are you paying 4.5% in litecoins?

███████████████████████████████████████

            ,╓p@@███████@╗╖,           
        ,p████████████████████N,       
      d█████████████████████████b     
    d██████████████████████████████æ   
  ,████²█████████████████████████████, 
 ,█████  ╙████████████████████╨  █████y
 ██████    `████████████████`    ██████
║██████       Ñ███████████`      ███████
███████         ╩██████Ñ         ███████
███████    ▐▄     ²██╩     a▌    ███████
╢██████    ▐▓█▄          ▄█▓▌    ███████
 ██████    ▐▓▓▓▓▌,     ▄█▓▓▓▌    ██████─
           ▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌          
           ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌          
    ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓─  
     ²▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩    
        ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀       
           ²▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀`          
                   ²²²                 
███████████████████████████████████████

. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.        SMOOTHIE'S HEALTH AND FITNESS JOURNAL          History of Monero development Visualization ★☆ .
LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
PinkBatman
Sr. Member
****
Offline Offline

Activity: 267



View Profile
July 02, 2012, 10:40:12 PM
 #13

I like the idea, just a little out of my reach. Too bad GLBSE can't be used for things like this.
Garr255
Legendary
*
Offline Offline

Activity: 952


What's a GPU?


View Profile
July 02, 2012, 10:40:36 PM
 #14

Coblee are you paying 4.5% in litecoins?

Yes.

And coblee, this: https://bitcointalk.org/index.php?topic=83904.0;topicseen

“First they ignore you, then they laugh at you, then they fight you, then you win.”  -- Mahatma Gandhi

Average time between signing on to bitcointalk: Two weeks. Please don't expect responses any faster than that!
Garr255
Legendary
*
Offline Offline

Activity: 952


What's a GPU?


View Profile
July 02, 2012, 10:41:51 PM
 #15

I like the idea, just a little out of my reach. Too bad GLBSE can't be used for things like this.

Let's get Nefario to make a GLLSE!

“First they ignore you, then they laugh at you, then they fight you, then you win.”  -- Mahatma Gandhi

Average time between signing on to bitcointalk: Two weeks. Please don't expect responses any faster than that!
Gladamas
Sr. Member
****
Offline Offline

Activity: 294


Bitcoin today is what the internet was in 1998.


View Profile
July 02, 2012, 10:42:51 PM
 #16

Interest rate will probably be 4.5% a week. The risk is if pirate defaults, you will lose your bitcoins. Of course there's also risk of me running away with your coins. But I hope people trust me enough not to do that.

Why wouldn't someone just invest in a PPT that pays >6.5%/week, then turn the BTC dividends into LTC?

What might be useful is if you accepted deposits in LTC.

1GLADMZ5tL4HkS6BAWPfJLeZJCDHAd9Fr3 - LQ6Zx8v7fHVBiDX5Lmhbp6oEDB7dUFjANu
GPG 0xF219D5BB3C467E12 - Litecoin Forum
Garr255
Legendary
*
Offline Offline

Activity: 952


What's a GPU?


View Profile
July 02, 2012, 10:44:24 PM
 #17

Interest rate will probably be 4.5% a week. The risk is if pirate defaults, you will lose your bitcoins. Of course there's also risk of me running away with your coins. But I hope people trust me enough not to do that.

Why wouldn't someone just invest in a PPT that pays >6.5%/week, then turn the BTC dividends into LTC?

What might be useful is if you accepted deposits in LTC.

Pirate is significantly reducing his rates. Coblee will be taking at 0.5% fee.

“First they ignore you, then they laugh at you, then they fight you, then you win.”  -- Mahatma Gandhi

Average time between signing on to bitcointalk: Two weeks. Please don't expect responses any faster than that!
Gladamas
Sr. Member
****
Offline Offline

Activity: 294


Bitcoin today is what the internet was in 1998.


View Profile
July 02, 2012, 10:45:39 PM
 #18

Interest rate will probably be 4.5% a week. The risk is if pirate defaults, you will lose your bitcoins. Of course there's also risk of me running away with your coins. But I hope people trust me enough not to do that.

Why wouldn't someone just invest in a PPT that pays >6.5%/week, then turn the BTC dividends into LTC?

What might be useful is if you accepted deposits in LTC.

Pirate is significantly reducing his rates. Coblee will be taking at 0.5% fee.

Sorry, forgot about that. Could Coblee possibly have a Trust account with Pirate? I know 500 BTC is a lot of money, but it's just a thought.

1GLADMZ5tL4HkS6BAWPfJLeZJCDHAd9Fr3 - LQ6Zx8v7fHVBiDX5Lmhbp6oEDB7dUFjANu
GPG 0xF219D5BB3C467E12 - Litecoin Forum
smoothie
Legendary
*
Offline Offline

Activity: 1834


LEALANA Monero Physical Silver Coins


View Profile
July 02, 2012, 10:45:50 PM
 #19

Interest rate will probably be 4.5% a week. The risk is if pirate defaults, you will lose your bitcoins. Of course there's also risk of me running away with your coins. But I hope people trust me enough not to do that.

Why wouldn't someone just invest in a PPT that pays >6.5%/week, then turn the BTC dividends into LTC?

What might be useful is if you accepted deposits in LTC.

And paid out in LTC as well...

███████████████████████████████████████

            ,╓p@@███████@╗╖,           
        ,p████████████████████N,       
      d█████████████████████████b     
    d██████████████████████████████æ   
  ,████²█████████████████████████████, 
 ,█████  ╙████████████████████╨  █████y
 ██████    `████████████████`    ██████
║██████       Ñ███████████`      ███████
███████         ╩██████Ñ         ███████
███████    ▐▄     ²██╩     a▌    ███████
╢██████    ▐▓█▄          ▄█▓▌    ███████
 ██████    ▐▓▓▓▓▌,     ▄█▓▓▓▌    ██████─
           ▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌          
           ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌          
    ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓─  
     ²▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩    
        ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀       
           ²▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀`          
                   ²²²                 
███████████████████████████████████████

. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.        SMOOTHIE'S HEALTH AND FITNESS JOURNAL          History of Monero development Visualization ★☆ .
LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
coblee
Donator
Legendary
*
Offline Offline

Activity: 1078


firstbits.com/1ce5j


View Profile WWW
July 02, 2012, 11:01:26 PM
 #20


That's just another passthrough, right? With the new rates, he will likely reduce his interest payments.

Pages: [1] 2 3 4 5 6 »  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!