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Author Topic: A Theory on what pirateat40 is doing  (Read 25174 times)
cbeast
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August 20, 2012, 12:34:01 AM
 #241

I will say this again:

All of these PPT's and interest earning "schemes" that are going on will likely not end pretty.

Someone will get burned and will lose big time in their bitcoin investment.

And the funny thing is people on this forum are so willing to send their bitcoins to said-operator of the "scheme" with no signed contract/paperwork.

Mark my words, someone will get burned. Roll Eyes


They are kind of preselected for that.
All these get rich schemes and scams are causing me to drop some forum topics.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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August 20, 2012, 12:35:17 AM
 #242

In god we trust!!

Hope to get back all my coins ASAP

Einer trage des andern Last, so werdet ihr das Gesetz Christi erfüllen.
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August 20, 2012, 03:43:13 AM
 #243

In god we trust!!

Hope to get back all my coins ASAP

wasn´t it you who sold them already for 30 cents on the dollar to yup?
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August 20, 2012, 07:02:08 AM
 #244

In god we trust!!

Hope to get back all my coins ASAP

wasn´t it you who sold them already for 30 cents on the dollar to yup?
he is yup.

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August 20, 2012, 12:58:15 PM
 #245

did the deal then take place or are they still owned by the one candoo or yup or whoever has paid them in?

mind to clarify please yup.candoo:-)
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August 20, 2012, 01:04:16 PM
 #246

He didn't sell to me as I made a ridicuilsly low offer; however if he thought that pirate wasn't going to payback then my 175 goxUSD was better than nothing.

I also suspect the legitimacy of the ss, but never got to the point to very of wi paybtc.

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August 21, 2012, 09:43:37 PM
 #247

i think Pirate pays back....after he bought all the btcst accounts for pennys on the dollar throu puppets after he generated even more panic under his "investors"

Its a bad but smart idea to get rich Smiley
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August 21, 2012, 09:53:50 PM
 #248

i think Pirate pays back....after he bought all the btcst accounts for pennys on the dollar throu puppets after he generated even more panic under his "investors"

Its a bad but smart idea to get rich Smiley

Only until one or more "investors" lawyer up and/or press criminal charges.





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August 21, 2012, 10:25:15 PM
 #249

I do not know about pirate, but BTCTS passthrough at GLBSE has already defaulted:

https://bitcointalk.org/index.php?topic=82573.msg1120679#msg1120679

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August 22, 2012, 03:09:59 PM
 #250

i think Pirate pays back....after he bought all the btcst accounts for pennys on the dollar throu puppets after he generated even more panic under his "investors"

Its a bad but smart idea to get rich Smiley

Only until one or more "investors" lawyer up and/or press criminal charges.

Even if it's a scam, it was marketed as a loan (his post IS in the lending section, not securities: https://bitcointalk.org/index.php?topic=50822.0). You can't be charged criminally in the US for not repaying one.

So then, you have to sue whoever pirateat40 is. Can you prove who he is to a judge? Good luck with that.

I run http://mail-to-jail.com. I am "thebaron-btc" on Bitcoin-OTC.
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August 22, 2012, 04:16:32 PM
 #251

i think Pirate pays back....after he bought all the btcst accounts for pennys on the dollar throu puppets after he generated even more panic under his "investors"

Its a bad but smart idea to get rich Smiley

Only until one or more "investors" lawyer up and/or press criminal charges.

Even if it's a scam, it was marketed as a loan (his post IS in the lending section, not securities: https://bitcointalk.org/index.php?topic=50822.0). You can't be charged criminally in the US for not repaying one.

So then, you have to sue whoever pirateat40 is. Can you prove who he is to a judge? Good luck with that.

umm, i sure hope you're trolling.

The name alone proves your little idea wrong. Bitcoin Savings and Trust.. And Pirate directly has stated it as being a FUND from the onset of acquiring what you would wish to term as 'loans'.

If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system. - GA
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August 22, 2012, 04:32:25 PM
 #252

Someone's buying from 9.5 to 10.  Sold at 15, and buy back in between 9.5 to 10.  I say, pirate is in for some profit (minus the interest payouts)... Maybe not a big one, but he surely is in for the lulz.
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August 23, 2012, 08:44:37 PM
 #253

Someone's buying from 9.5 to 10.  Sold at 15, and buy back in between 9.5 to 10.  I say, pirate is in for some profit (minus the interest payouts)... Maybe not a big one, but he surely is in for the lulz.

He did not sell at $15 because there wasn't nearly the depth for that.

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August 23, 2012, 08:49:22 PM
 #254

Someone's buying from 9.5 to 10.  Sold at 15, and buy back in between 9.5 to 10.  I say, pirate is in for some profit (minus the interest payouts)... Maybe not a big one, but he surely is in for the lulz.

He did not sell at $15 because there wasn't nearly the depth for that.

Or more specifically he didn't sell a lot at $15.00.  Even if we assume he was the only one selling last Friday.  Only ~10K BTC changed hands above $14.00.  About double that above $13.00.  Hell even if you down to $11 only about 50K BTC changed hands.

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August 23, 2012, 08:55:37 PM
 #255

Anyone can see charts and volume. Whoever was selling large amounts on that big dump at best got 12$ average. There is no way all the coins can be bought back  below that. Once the market senses the blood it will not let wounded player off the hook.

Huge tankers can not ride circles around small tug boats, it is just how it works. Huge players cannot sell big on open market and then buy big and stay in profit. They can only push profitably in one direction and move slow and steady.

That charts shows an irrational player panicking.



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August 23, 2012, 09:04:21 PM
 #256

Someone's buying from 9.5 to 10.  Sold at 15, and buy back in between 9.5 to 10.  I say, pirate is in for some profit (minus the interest payouts)... Maybe not a big one, but he surely is in for the lulz.

He did not sell at $15 because there wasn't nearly the depth for that.

Or more specifically he didn't sell a lot at $15.00.  Even if we assume he was the only one selling last Friday.  Only ~10K BTC changed hands above $14.00.  About double that above $13.00.  Hell even if you down to $11 only about 50K BTC changed hands.

it makes no sense, why wouldn't he of let the price go higher and higher, slowly selling off all the coins?
my guess is he was doing that from 9 to 15, at 15 he had to do Something to cause panic, so he dumped
now hes keeping the price below 10$ in the hopes that once he sold off most of the coins, the market naturally will go down.

hes going to sell all the coins, causing a bearish market for a few weeks, which could cause some panic selling too..
but his target of 7.50 is unreasonable and will never be reached.
no way in hell will the ask depth be their when he wants to buy back.

he ends up with $ profits not BTC

500,000$  < 50,000BTC, even if the price is 8$


Anyone can see charts and volume. Whoever was selling large amounts on that big dump at best got 12$ average. There is no way all the coins can be bought back  below that. Once the market senses the blood it will not let wounded player off the hook.

Huge tankers can not ride circles around small tug boats, it is just how it works. Huge players cannot sell big on open market and then buy big and stay in profit. They can only push profitably in one direction and move slow and steady.

That charts shows an irrational player panicking.


+21,000,000
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August 24, 2012, 06:23:37 PM
 #257

so...

pirate payed out a few people, and hasn't said anything for 2 days?
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August 25, 2012, 02:55:36 AM
 #258


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August 25, 2012, 04:16:31 AM
 #259

I don't get it. I didn't bet on pirates fund but why do you think he is untraceable?? Obviously if he has any intention to move such amounts of money in mtgox his real name and contact data has been verified. If MtGox refused to share such data of an pbious scammer he would be a viewed as a needed partner for the scamm to take place!

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August 25, 2012, 04:19:37 AM
 #260

so...

pirate payed out a few people, and hasn't said anything for 2 days?

who claims to have been paid? i call fud...

Just a few (between 1 and 11) bitcoinmax accounts.  The total is less then 700 BTC and all only a few of those 11 have been verified.  So far less then the assumed accumulated interest for one day. 

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