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Author Topic: Putting your money where Pirate's mouth is.  (Read 68303 times)
imsaguy
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August 28, 2012, 10:04:06 PM
 #581

A default will be construed to have occurred, if at any time prior to October 1 2013, 00.01 UTC, BTCST will be late by at least 14 calendar days, in disbursing either any regularly-scheduled interest payment, or any withdrawal request, by a valid account holder of BTCST.

The last regularly-scheduled interest payments went out on Monday 13th August.  So the payments that were due on Monday 20th August are currently 8 days late, and will be 14 days late on Monday 3rd September.

I don't know the date of the earliest unpaid withdrawal request.  Perhaps that's where the date of September 1st comes from.

Aye.  Its the first withdrawal that is the earliest deadline.

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August 30, 2012, 08:46:21 PM
 #582

So, apparently Vandroiy won this one? Or has Pirate actually paid all scheduled interest and withdrawal requests that were due two weeks ago or earlier?

If I understood correctly, he has until Friday. Vandroiy wins on September 1st if Pirate doesn't pay back.

A default will be construed to have occurred, if at any time prior to October 1 2013, 00.01 UTC, BTCST will be late by at least 14 calendar days, in disbursing either any regularly-scheduled interest payment, or any withdrawal request, by a valid account holder of BTCST.

The last regularly-scheduled interest payments went out on Monday 13th August.  So the payments that were due on Monday 20th August are currently 8 days late, and will be 14 days late on Monday 3rd September.

I don't know the date of the earliest unpaid withdrawal request.  Perhaps that's where the date of September 1st comes from.

Right, bitlane asked for a withdrawal a few days before the 20th, then posted 3 hours later that he hadn't received it yet.  Naturally, this caused a cascade of withdrawals because pirate was unplugged for a few hours.  When he came back and needed to pay out a significant portion of his operating funds he said "fuck this, I'm done".  I still expect a partial payout and I believe it could have been a full payout if there had been less of a shitstorm, but herds will be herds.

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August 30, 2012, 11:43:54 PM
 #583

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

I hereby declare the bet decided, in favor of Vandroiy. A withdrawal request made on August 15 2012, is still outstanding as of today, Aug 30 2012, which triggers default as specified in the contract, via "late by at least 14 calendar days, in disbursing either any regularly-scheduled interest payment, or any withdrawal request, by a valid account holder of BTCST." clause.

In private communication, pirateat40 has agreed with this assessment and conceded the bet.

Since Vandroiy is currently traveling, we have agreed via private communication to set up the 10k BTC disbursement of escrowed funds sometime in September, when he is back.

For your easy reference, link to bet contract:
https://bitcointalk.org/index.php?topic=91661.msg1013589#msg1013589
-----BEGIN PGP SIGNATURE-----

iEYEARECAAYFAlA/+lMACgkQ5/k4vslVlLJoVgCeP2/oEcVMrA9zLev1l8AMXrgY
srkAn1yX8t8Y0ADJTPrKIFKOBk6e3skx
=fnN2
-----END PGP SIGNATURE-----

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August 30, 2012, 11:46:41 PM
 #584

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

I hereby declare the bet decided, in favor of Vandroiy. A withdrawal request made on August 15 2012, is still outstanding as of today, Aug 30 2012, which triggers default as specified in the contract, via "late by at least 14 calendar days, in disbursing either any regularly-scheduled interest payment, or any withdrawal request, by a valid account holder of BTCST." clause.

In private communication, pirateat40 has agreed with this assessment and conceded the bet.

Since Vandroiy is currently traveling, we have agreed via private communication to set up the 10k BTC disbursement of escrowed funds sometime in September, when he is back.

For your easy reference, link to bet contract:
https://bitcointalk.org/index.php?topic=91661.msg1013589#msg1013589
-----BEGIN PGP SIGNATURE-----

iEYEARECAAYFAlA/+lMACgkQ5/k4vslVlLJoVgCeP2/oEcVMrA9zLev1l8AMXrgY
srkAn1yX8t8Y0ADJTPrKIFKOBk6e3skx
=fnN2
-----END PGP SIGNATURE-----

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August 30, 2012, 11:48:23 PM
 #585

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

I hereby declare the bet decided, in favor of Vandroiy. A withdrawal request made on August 15 2012, is still outstanding as of today, Aug 30 2012, which triggers default as specified in the contract, via "late by at least 14 calendar days, in disbursing either any regularly-scheduled interest payment, or any withdrawal request, by a valid account holder of BTCST." clause.

In private communication, pirateat40 has agreed with this assessment and conceded the bet.

Since Vandroiy is currently traveling, we have agreed via private communication to set up the 10k BTC disbursement of escrowed funds sometime in September, when he is back.

For your easy reference, link to bet contract:
https://bitcointalk.org/index.php?topic=91661.msg1013589#msg1013589
-----BEGIN PGP SIGNATURE-----

iEYEARECAAYFAlA/+lMACgkQ5/k4vslVlLJoVgCeP2/oEcVMrA9zLev1l8AMXrgY
srkAn1yX8t8Y0ADJTPrKIFKOBk6e3skx
=fnN2
-----END PGP SIGNATURE-----

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August 30, 2012, 11:50:13 PM
 #586

Congratulations Vandroiy!

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August 30, 2012, 11:50:19 PM
 #587

What will be interesting now is what he does with what he believes to be profits from an illegal venture.

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August 30, 2012, 11:53:52 PM
 #588

What will be interesting now is what he does with what he believes to be profits from an illegal venture.

mind

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August 30, 2012, 11:56:27 PM
 #589

Congratulations for your balls of steel Vandroiy.
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August 31, 2012, 12:00:56 AM
 #590

What will be interesting now is what he does with what he believes to be profits from an illegal venture.

Note that Sept. 9th is "sometime in September"

Anyone wanna make a bet?  Roll Eyes

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August 31, 2012, 12:06:45 AM
 #591

What will be interesting now is what he does with what he believes to be profits from an illegal venture.

Note that Sept. 9th is "sometime in September"

Anyone wanna make a bet?  Roll Eyes
What is sept 9?

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August 31, 2012, 12:11:46 AM
 #592

What will be interesting now is what he does with what he believes to be profits from an illegal venture.

Note that Sept. 9th is "sometime in September"

Anyone wanna make a bet?  Roll Eyes
What is sept 9?

I think we've had enough of the scams, tricks, lies, thieving, etc, and I'm glad my bet has already served many of it's multiple purposes. Can't wait until September 9th.

Matt's bet resolves.

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August 31, 2012, 12:12:32 AM
 #593

What will be interesting now is what he does with what he believes to be profits from an illegal venture.

Note that Sept. 9th is "sometime in September"

Anyone wanna make a bet?  Roll Eyes
What is sept 9?

I think we've had enough of the scams, tricks, lies, thieving, etc, and I'm glad my bet has already served many of it's multiple purposes. Can't wait until September 9th.

Matt's bet resolves.

'Dissolves'  Cheesy
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August 31, 2012, 12:13:14 AM
 #594

What will be interesting now is what he does with what he believes to be profits from an illegal venture.

Note that Sept. 9th is "sometime in September"

Anyone wanna make a bet?  Roll Eyes
What is sept 9?

I think we've had enough of the scams, tricks, lies, thieving, etc, and I'm glad my bet has already served many of it's multiple purposes. Can't wait until September 9th.

Matt's bet resolves.

Duh, thanks.

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August 31, 2012, 08:35:31 AM
 #595

What will be interesting now is what he does with what he believes to be profits from an illegal venture.

Note that Sept. 9th is "sometime in September"

Anyone wanna make a bet?  Roll Eyes

I am still taking bets that pirate will repay here if you would like to wager.  https://bitcointalk.org/index.php?topic=104255.0

All bets must be escrowed

The bet contract is listed in a PGP signed document by the escrower (Garr225)
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August 31, 2012, 10:09:16 AM
 #596

What will be interesting now is what he does with what he believes to be profits from an illegal venture.
Keep them, presumably? After all, he risked - or at least tied up - a substantial chunk of his own money in order to convince others that yes, he genuinely did believe that BTCS&T was a ponzi scheme in the face of cries of "troll!" and "put your money where your mouth is or shut up!" from Pirate supporters. I think that more than pays off any ethical obligations he might have. Also, he kinda predicted this on about the second page:

Wait, I get it. When you default, the users come raging at me screaming I have their money. Grin

Edit - and the fourth page:
The only "pocket ace" I'm afraid of is people discrediting me for obtaining stolen funds I can't pay back for a multitude of reasons. I don't think that is something Pirateat40 cares about though, and I'm not so certain he wants to get back at me. Just playing his game like a pro.

And if you expect me to believe that Pirate's supporters would've let him back away from the bet being offered because of this, you have another thing coming.

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August 31, 2012, 03:18:45 PM
 #597

What will be interesting now is what he does with what he believes to be profits from an illegal venture.
Keep them, presumably? After all, he risked - or at least tied up - a substantial chunk of his own money in order to convince others that yes, he genuinely did believe that BTCS&T was a ponzi scheme in the face of cries of "troll!" and "put your money where your mouth is or shut up!" from Pirate supporters. I think that more than pays off any ethical obligations he might have.

First off:  As someone who has an investment in BTCS&T let me say that I personally have no problem with him keeping the bet.

HOWEVER some of team ponzi (namely JoelKatz) have gone on about receipt of stolen money.  So I was just wondering if they were going to play by their own rules.

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August 31, 2012, 03:38:36 PM
 #598

What will be interesting now is what he does with what he believes to be profits from an illegal venture.
Keep them, presumably? After all, he risked - or at least tied up - a substantial chunk of his own money in order to convince others that yes, he genuinely did believe that BTCS&T was a ponzi scheme in the face of cries of "troll!" and "put your money where your mouth is or shut up!" from Pirate supporters. I think that more than pays off any ethical obligations he might have.

First off:  As someone who has an investment in BTCS&T let me say that I personally have no problem with him keeping the bet.

HOWEVER some of team ponzi (namely JoelKatz) have gone on about receipt of stolen money.  So I was just wondering if they were going to play by their own rules.

I'm of the opinion that the winnings should be donated to the OP.

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August 31, 2012, 03:54:12 PM
 #599

What will be interesting now is what he does with what he believes to be profits from an illegal venture.
Keep them, presumably? After all, he risked - or at least tied up - a substantial chunk of his own money in order to convince others that yes, he genuinely did believe that BTCS&T was a ponzi scheme in the face of cries of "troll!" and "put your money where your mouth is or shut up!" from Pirate supporters. I think that more than pays off any ethical obligations he might have.

First off:  As someone who has an investment in BTCS&T let me say that I personally have no problem with him keeping the bet.

HOWEVER some of team ponzi (namely JoelKatz) have gone on about receipt of stolen money.  So I was just wondering if they were going to play by their own rules.

I'm of the opinion that the winnings should be donated to the OP.

That is the only fair way to do it.

Glad we agree on that. Party at my house, then.

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August 31, 2012, 04:55:05 PM
 #600

What will be interesting now is what he does with what he believes to be profits from an illegal venture.

mind

blown


Surely he will ask somebody for advise on this Wink
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