A Theory on what pirateat40 is doing

[Seal]

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. 

Interesting. Links to claims would be awesome if you have them.

Maybe he's buying himself some time??

[Littleshop]

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. 

Interesting. Links to claims would be awesome if you have them.

https://bitcointalk.org/index.php?topic=102107.0

Basically this only shows the IRC chat where pirate says he paid.  I think this is more a stunt to pump up the price of pirate debt since there is very little expedience of coin movement.

[hazek]

Allow me to just quickly point out how the outcome of this escapade so far seems to perfectly coincide with the predictions I and other like me, who used reason and evidence to evaluate BS&T and what pirateat40 is really doing, predicted.

But it's ok to make a mistake and fall for the fraud as long as you manage to learn something from it and not repeat the mistake.


Next time, please use reason and evidence(or lack thereof) in your evaluations or if you haven't learned how to do that, at least listen to people who do.

[thebaron]

Next time, please use reason and evidence(or lack thereof) in your evaluations or if you haven't learned how to do that, at least listen to people who do.

Education costs money sometimes.

[hazek]

Next time, please use reason and evidence(or lack thereof) in your evaluations or if you haven't learned how to do that, at least listen to people who do.

Education costs money sometimes.

Sometimes that's the only education that sticks.

[zyk]

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. 

Interesting. Links to claims would be awesome if you have them.

Maybe he's buying himself some time??

That can be only smoke and mirorrs....he will never ever pay out a cent before bitlane is not assured to get his....so behind the scenes the colluding is already done ?

In any Ponzi the criminals  at the top divide the loot.....in a failed buiseness the remnants would be distributed evenly.

Cheers Zyk

[_mr_e]

so is it official yet? has anyone heard a peep from pirate since friday?

[bitcoinsydney]

so is it official yet? has anyone heard a peep from pirate since friday?

He's been in and out of IRC changing names between pirateat40 and steamship. It's bizarre really. When he's "steamship" he's been offering to buy pirate debt at reduced rates. No idea if he's serious.

[JoelKatz]

so is it official yet? has anyone heard a peep from pirate since friday?

He's been in and out of IRC changing names between pirateat40 and steamship. It's bizarre really. When he's "steamship" he's been offering to buy pirate debt at reduced rates. No idea if he's serious.

If that's true, there are two reasons he could be doing that.

1) He wants to make people think he's going to pay out.

2) He's trying to cover the fact that he's actually *selling* Pirate debt.

[MrTeal]

so is it official yet? has anyone heard a peep from pirate since friday?

He's been in and out of IRC changing names between pirateat40 and steamship. It's bizarre really. When he's "steamship" he's been offering to buy pirate debt at reduced rates. No idea if he's serious.

If that's true, there are two reasons he could be doing that.

1) He wants to make people think he's going to pay out.

2) He's trying to cover the fact that he's actually *selling* Pirate debt.

If Pirate really was planning to run with everything, he could add a decent bonus to his earnings by starting to pay out some small accounts and then selling big "accounts" at a steep discount.

That being said, if Pirate really is going to pay everyone back, it would make sense for him to scoop up as much discounted debt as possible.

[odolvlobo]

I think that the 500,000 BTC that people claim he has is gone -- used to pay out the 7% per week interest -- and he has nothing left. If he actually earns nothing from the deposits, then all the money is gone in only 3 months.

[mrSprinkles]

so is it official yet? has anyone heard a peep from pirate since friday?

He's been in and out of IRC changing names between pirateat40 and steamship. It's bizarre really. When he's "steamship" he's been offering to buy pirate debt at reduced rates. No idea if he's serious.

That wasn't the real pirateat40. That pirateat40 (and steamship) did not have the OP prefix (@) in front of their nick. In addition, both @pirateat40 and pirateat40 were in the channel at the same time. It's likely he used an invisible character or typo to change his name to pirateat40. He was also clearly a troll. Can't believe everything you see, and then take it at face value.

[boonies4u]

so is it official yet? has anyone heard a peep from pirate since friday?

He's been in and out of IRC changing names between pirateat40 and steamship. It's bizarre really. When he's "steamship" he's been offering to buy pirate debt at reduced rates. No idea if he's serious.

That wasn't the real pirateat40. That pirateat40 (and steamship) did not have the OP prefix (@) in front of their nick. In addition, both @pirateat40 and pirateat40 were in the channel at the same time. It's likely he used an invisible character or typo to change his name to pirateat40. He was also clearly a troll. Can't believe everything you see, and then take it at face value.

Did you check the ident?

[CoinCidental]

[unclescrooge]

Thats the plan baby

[unclescrooge]

2) He's trying to cover the fact that he's actually *selling* Pirate debt.

I don't understand what you mean by selling his debt.

I can understand how he could buy it at a discount, which would equate to a partial discount. But selling it? Selling what?

[apetersson]

But selling it? Selling what?

One thing he can do now is create a new account in his DB assign a bazillion coins to it.
Then go here with a new sockpuppet account and state: "i want to get rid of this btcst account, someone buy it from me for 30%"

there he sold his own debt

[Grinder]

I don't understand what you mean by selling his debt.
I can understand how he could buy it at a discount, which would equate to a partial discount. But selling it? Selling what?

Lots of people are selling their pirate accounts at a discount. He probably has some fake accounts, and he could be selling them. That would also explain why he's still hanging around. If he didn't it would be pretty much impossible to sell them even at a discount.

[FreeMoney]

2) He's trying to cover the fact that he's actually *selling* Pirate debt.

I don't understand what you mean by selling his debt.

I can understand how he could buy it at a discount, which would equate to a partial discount. But selling it? Selling what?

Buying it would involve giving someone money.

Selling it would involve getting more money.

He's been selling Pirate IOUs all along. Maybe he's still selling them, I dunno. But he's not buying them, lol.

[interlagos]

so is it official yet? has anyone heard a peep from pirate since friday?

He's been in and out of IRC changing names between pirateat40 and steamship. It's bizarre really. When he's "steamship" he's been offering to buy pirate debt at reduced rates. No idea if he's serious.

Steamship? Hmm... was Titanic a steamship?