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Question: BS&T -- Are you staying or leaving?
I'm using a passthrough(s) and will continue to do so
I will make or already have an account which I will keep
I will have a Trust account
I am currently using a passthrough and will be withdrawing all funds from it
I currently have an account and will be withdrawing all funds from it
I am currently using a passthrough and will be withdrawing some funds from it
I currently have an account and will be withdrawing some funds from it
What kind of idiot would trust their money with that guy?
Idk show me what others said.

Warning: Moderators do not remove likely scams. You must use your own brain: caveat emptor. Watch out for Ponzi schemes. Do not invest more than you can afford to lose.

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Author Topic: BS&T -- Are you staying or leaving?  (Read 22712 times)
hazek
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July 04, 2012, 12:17:32 AM
 #21

Center Europe.

My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)

If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
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hazek
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July 04, 2012, 12:21:03 AM
 #22

You're not making any sense.

Exchange rate is up ~30% in the last 30 days or so, it shot up almost 20% in a mater of 4 days, how is this not the risk event he says he is sacrificing his profits for when hedging by using other people's money instead of his own?

by fast increase i think pirate meant something like 10-20-30% increase withing minutes maybe hours, not days

So according to you, because I don't know all of what pirate has said so far, he is giving up a huge portion of his profits for the past several months highly unlikely event of 10-20-30% of an increase of the exchange rate within minutes or hours?

Answer this: are you aware how much potential profits he is giving up by using other people's money with his rate of return?

My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)

If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
the joint
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July 04, 2012, 12:21:55 AM
 #23

Just curious,

For those telling Hazek to STFU, are you doing so because you also think it's a ponzi and simply want more people to jump in and pump up the pyramid so your fun won't end?  In other words, are you perceiving Hazek to be a threat to the ponzi?

For the record, I have a small amount invested in a pass-through and to that extent hopes it continues as well.

Tomatocage
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brb keeping up with the Kardashians


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July 04, 2012, 12:32:50 AM
 #24

Just curious,

For those telling Hazek to STFU, are you doing so because you also think it's a ponzi and simply want more people to jump in and pump up the pyramid so your fun won't end?  In other words, are you perceiving Hazek to be a threat to the ponzi?

For the record, I have a small amount invested in a pass-through and to that extent hopes it continues as well.

Hazek should STFU because It's not a Ponzi.  It's most likely a money laundering scheme. 

THIS SPOT FOR RENT* | GPG ID: 4880D85C | 1% Escrow | 8% IPO/ICO Escrow services Temporarily Closed | Bitcointalk is the ONLY place where I use this name (No Skype/IRC/YIM/AIM/etc) | 13CsmTqGNwvFXb7tD9yFvJcEYCDTB8wQTS | Beware of these SCAM sites! | *Sponsored Link
CrazyGuy
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July 04, 2012, 01:21:05 AM
 #25

I actually met Pirate back in October 2011. I purchased a 5970 from him for $240 when they were selling for $400 to $450 in the forums. He lives a few miles away so we met up at a local gas station for the trade. We didn't talk much but he mentioned he had 7970s coming at the end of the month, which I thought was weird since they weren't coming out until January. I only found out recently that he started BS&T a month later so I'm assuming he was selling stuff cheap to build a quick rep. He didn't seem like the Bernie Madoff type..

With that said, I'm not sure what to think about his operation. He's been paying high interest rates since November, so if it's a pure ponzi, he has to be adding large amounts of investors each week. I had a few coins in PPTs that I took out today. I'd prefer to watch things unfold from the sidelines.

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alexanderanon
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July 04, 2012, 02:33:52 AM
 #26

Apparently he was or is still the director of a Texas mortgage lending company.

http://www.tlpwebsite.com/
http://www.merchantcircle.com/business/Lending.Partners.972-665-1900/shoutout/list

Such a position might be ideal for conducting pirate's type of side "business". It's based in Plano, right next to McKinney, where he apparently lives. This was pretty easy to find via google searching, but I think people have been hush hush about discussing his personal details for whatever reason. He is holding a massive number of our bitcoins, so I see no problem with getting to know him better.

Ultimately, perhaps this can alleviate all of our ponzi worries --- just the fact that we know his real life identity and thus have some sort of legal recourse in the case of something unsavory occurring. And that makes one think, that if he was some sort of incredible mastermind, he might have set-up the whole pass through structure as a way of offloading legal responsibility to his top lender circle in case of default. But I doubt it...just being thorough in my musings.
Rygon
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July 04, 2012, 02:36:55 AM
 #27

Just curious,

For those telling Hazek to STFU, are you doing so because you also think it's a ponzi and simply want more people to jump in and pump up the pyramid so your fun won't end?  In other words, are you perceiving Hazek to be a threat to the ponzi?

For the record, I have a small amount invested in a pass-through and to that extent hopes it continues as well.

IMO, Hazek isn't adding anything new to the conversation. The "BS&T is a Ponzi" argument has been made dozens of times already. It's easy to find in the forums and near impossible to miss. Unless he has some new evidence to present, he should just STFU. Most everyone on here has already made up their minds, and those who haven't or are new to Bitcoin have more than enough information to make their own decision.
nimda
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July 04, 2012, 02:37:53 AM
 #28

Actually, one member of the Lending forums has already stated that his interest rates for a pass-through will continue to be 6.75%...

I recommend asking me for a signature from my GPG key before doing a trade. I will NEVER deny such a request.
John (John K.)
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July 04, 2012, 02:42:13 AM
 #29

Actually, one member of the Lending forums has already stated that his interest rates for a pass-through will continue to be 6.75%...

And someone else said they will stay at 6.8%  Smiley
Another said 6.9% too.

(Full disclosure: that's not me)

My BTC Tip Jar: 1Pgvfy19uwtYe5o9dg3zZsAjgCPt3XZqz9 , GPG ID: B3AAEEB0 ,OTC ID: johnthedong
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imsaguy
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July 04, 2012, 02:45:15 AM
 #30

and I am offering the full 7%.

Coming Soon!™ © imsaguy 2011-2013, All rights reserved.

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John (John K.)
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July 04, 2012, 02:52:51 AM
 #31

Actually, one member of the Lending forums has already stated that his interest rates for a pass-through will continue to be 6.75%...

And someone else said they will stay at 6.8%  Smiley
Another said 6.9% too.

(Full disclosure: that's not me)

They're all scammers.  I of course have cryptographic proof that I am not.

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

I am not a scammer and I will offer sub accounts with monthly interest paying 16%.
-----BEGIN PGP SIGNATURE-----
Version: GnuPG/MacGPG2 v2.0.17 (Darwin)
Comment: GPGTools - http://gpgtools.org

iQIcBAEBAgAGBQJP865fAAoJEEA+/hj9AfY+JOEP/RTnW7KiTfqVwycy1dCvp3uZ
Q+HL+JndzuMFz9w7ARTQXQePz9enqgwjhVLs1a1wKhESwRA2CuZBWuUecq2Hcl17
25Tut1agiQkjzbfetlLVzAVsDpAasOsfjnynv5c/zyBNzQ0dwc/z5xSRwIexpjYF
0MVQk0c4493tEdn2hqmfyRvR5vfUMoM0d0tsp/qKyTeEZemNNcO4VeTYObLnxg9M
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jOVSOXiuG4ivrAjMhn3SELQhZphREEdZ2Oys26NslptuMeiVYHhnByh7F+U1nc/z
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13gGeU7FRWdhHSXzLW44
=s8Sy
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Monthly? Pfft. Big boys play with WEEKLY now. 

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jamesg
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July 04, 2012, 02:54:46 AM
 #32

-----BEGIN PGP SIGNATURE-----
Version: GnuPG/MacGPG2 v2.0.17 (Darwin)

Uh oh..... reeses is a mac user!

* gigavps gets out the pitch forks
BadBear
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July 04, 2012, 06:40:40 AM
 #33

I'd be getting out if I had any, sure smells like trouble brewing.

1Kz25jm6pjNTaz8bFezEYUeBYfEtpjuKRG | PGP: B5797C4F

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July 04, 2012, 06:59:12 AM
 #34

I'd be getting out if I had any, sure smells like trouble brewing.

What do you base that on? Increased amount of trolling? The trolls work themselves up into a frenzy over this once a month or so. Everytime it seems worse than the last. Everytime it settles down when pirate does what he said he would.
EskimoBob
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July 04, 2012, 09:43:14 AM
 #35

Only reason you guys are whining is this: interest payments are "too generous" and your huge egos are severely bruised because you can not figure out wtf is he doing Smiley Really?
So, if he paid you a crappy 1-2% per week, everyone will calm down and be happy?
Whine about those Mh/s mining Turds, that are only good for the issuer because coupon payments are based on Mh/s only.

If the PP business is good and he likes to keep it going, there is no reason to fuck it up for others and especially for himself.
Pirate, can you keep paying those fat coupons and buying back those wonderful zeros?
Yes or no

Cheers

While reading what I wrote, use the most friendliest and relaxing voice in your head.
BTW, Things in BTC bubble universes are getting ugly....
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July 04, 2012, 10:01:24 AM
 #36

Only reason you guys are whining is this: interest payments are "too generous" and your huge egos are severely bruised because you can not figure out wtf is he doing Smiley

No. We are whining because we know the future. Just watch.

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July 04, 2012, 10:17:22 AM
 #37

Only reason you guys are whining is this: interest payments are "too generous" and your huge egos are severely bruised because you can not figure out wtf is he doing Smiley

No. We are whining because we know the future. Just watch.


Just how exactly sustainable is a 3313% APR, you tell me

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hazek
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July 04, 2012, 10:44:04 AM
 #38

Only reason you guys are whining is this: interest payments are "too generous" and your huge egos are severely bruised because you can not figure out wtf is he doing Smiley

No. We are whining because we know the future. Just watch.


And we don't even care as much about all of you who support (and may or may not account for the risk of) putting your money into something with so many red flags, you are free to lose your money however you please. The reason we're so vocal is because most people don't account for the risk, most people are not financially literate and savvy in this area of expertise to know just how high the risk of them being scammed in this case is and these are also usually the people that can least afford to lose the money and we are vocal so that hopefully maybe these kind of potential "investors" get warned and hopefully decide against risking their money.

You can't imagine how fking destructive ponzi schemes are. I had a rl friend who fell into one, heck I even have my sister participating in one right now (though luckily I managed to get her to at least take out what she initially put it) and I have first hand real life experience what happens when the shit hits the fan. That friend, when it all went bust, do you know what he did? He went and crashed his leased BWM and almost killed himself just so he could collect insurance, he lost most of his good friends who care about him and surrounded himself with vultures who care about nothing but their own personal gain and would do anything for it.

So yea. You know, you're right, it must be that I'm jealous when I warn people from getting themselves in a spot that could lead to all kinds of shit, yeah, that must be it.  Roll Eyes

My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)

If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
bulanula
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July 04, 2012, 10:50:18 AM
 #39

Just curious,

For those telling Hazek to STFU, are you doing so because you also think it's a ponzi and simply want more people to jump in and pump up the pyramid so your fun won't end?  In other words, are you perceiving Hazek to be a threat to the ponzi?

For the record, I have a small amount invested in a pass-through and to that extent hopes it continues as well.

Captain obivous award for you !

No ponzi here dood ... wake up. Wink
BadBear
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July 04, 2012, 11:48:50 AM
 #40

I'd be getting out if I had any, sure smells like trouble brewing.

What do you base that on? Increased amount of trolling? The trolls work themselves up into a frenzy over this once a month or so. Everytime it seems worse than the last. Everytime it settles down when pirate does what he said he would.

Mostly because of the response to it. When pirate locks his thread, and when his entourage start trying to silence people, I start wondering why? Is there a kernel of truth in there somewhere, and that's why it bothers them so bad?

1Kz25jm6pjNTaz8bFezEYUeBYfEtpjuKRG | PGP: B5797C4F

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