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Author Topic: I have made a 25% return this week trading *against* the pirate  (Read 11943 times)
drakahn
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July 23, 2012, 07:07:38 AM
 #21

how does pirate make money if he buys high and sells low Huh

How does a ponzi make money? Smiley

Ooooooo... It's game on now.  Good luck!

Pirate-Pay on the horizon? :p

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boonies4u
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July 23, 2012, 08:19:37 AM
 #22

Pirate likes to buy high and sell low, with other people's money.

if you buy at 8.00 or below, and sell at 9.00 or above, you can make money trading against pirate too.  I've done that x6000 coins this week, earning me about a 25% return on my investment trading against pirate.

EDIT: if anyone wants to buy some goxUSD from me to take advantage of the buying opportunities, email me at tony@bitpay.com

I thought the idea was that he sells bitcoins low on MtGox, so he can keep prices low for his clients that he sells coin to for a high premium?

Whether this is a ponzi scheme or not, I don't see why someone would buy high and sell low... just to buy high and sell low.

I suppose the question here is, are you infact trading against pirate?
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July 23, 2012, 08:55:25 AM
 #23

Will you also come and brag about it when you lose 25%? lol
This

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July 23, 2012, 10:08:46 AM
 #24

how does pirate make money if he buys high and sells low Huh

How does a ponzi make money? Smiley


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molecular
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July 23, 2012, 11:56:22 AM
 #25

If that address is SR escrow + savings, since escrow should be <100K, did the SilkRoad EARN ~400 kBTC???

If so, the silkroad is definitely the second-most-profitable bitcoin business, if not the most profitable one.

I somehow doubt it's SR's address. Gox?


EDIT: sorry guys, wrong thread. thanks for pointing it out, myself

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Cablez
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July 23, 2012, 12:29:14 PM
 #26

Ooooooo... It's game on now.  Good luck!


I just like that no matter how much we chatter, he takes it all in stride and with a sense of humor.  Good on ya Pirate!

Tired of substandard power distribution in your ASIC setup???   Chris' Custom Cablez will get you sorted out right!  No job too hard so PM me for a quote
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July 23, 2012, 12:29:51 PM
 #27

Will you also come and brag about it when you lose 25%? lol
This

I love how nobody's learned to keep their damn trading secret...

(BFL)^2 < 0
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July 23, 2012, 12:31:39 PM
 #28

Two giants, fighting against each other.
Who will win the battle and has the last laugh in the end ?
Only forum post will tell.

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July 23, 2012, 02:04:32 PM
 #29

Two giants, fighting against each other.
Who will win the battle and has the last laugh in the end ?
Only forum post will tell.

It's the ultimate showdown of ultimate destiny.
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July 23, 2012, 04:13:54 PM
 #30

This looks like Bit-pay Merchant Solutions (bull) just caught pirateat40 (bear) in a short squeeze. Very nicely done.
Short squeeze?

There's no Bitcoinica. Where would pirate have been shorting?

If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the culture of naive fools and conmen, the former convinced that BTC is a magic box that will turn them into millionaires, and the latter arriving by the busload to devour them.
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July 23, 2012, 04:30:53 PM
 #31

This looks like Bit-pay Merchant Solutions (bull) just caught pirateat40 (bear) in a short squeeze. Very nicely done.
Short squeeze?

There's no Bitcoinica. Where would pirate have been shorting?

Quote from: Wikipedia
In finance, short selling (also known as shorting or going short) is the practice of selling assets,
usually securities, that have been borrowed from a third party (usually a broker)
with the intention of buying identical assets back at a later date to return to that third party.

BTCST, obviously. He is hundreds of thousands of Bitcoins in debt to his creditors, at ~3000% yearly, Bitcoin denominated interest.

But! He can short sell the Bitcoin borrowed from his lenders, "with the intention of buying identical assets back at a later date to return to that third party".

What can go wrong?



(Or he can short sell their assets without any such intention, for that matter. He's got a pretty cool setup.)
molecular
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July 23, 2012, 04:43:58 PM
 #32

This looks like Bit-pay Merchant Solutions (bull) just caught pirateat40 (bear) in a short squeeze. Very nicely done.
Short squeeze?

There's no Bitcoinica. Where would pirate have been shorting?

Selling borrowed stuff == shorting

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July 23, 2012, 05:28:26 PM
 #33

Looks like pirate needs more money.  He has lifted the referral requirement so now anyone can invest again in this BCTST.  I am speculating this usually happens when business goes bad so more capital is require to remain "profitable."
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July 23, 2012, 05:39:27 PM
 #34

Looks like pirate needs more money.  He has lifted the referral requirement so now anyone can invest again in this BCTST.  I am speculating this usually happens when business goes bad so more capital is require to remain "profitable."

He needs more BTC in order to keep shorting. He has plenty of USD. The way to squeeze a short is to simply take delivery of the asset being shorted and then sit on it.

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card
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July 23, 2012, 05:54:09 PM
 #35

Looks like pirate needs more money.  He has lifted the referral requirement so now anyone can invest again in this BCTST.  I am speculating this usually happens when business goes bad so more capital is require to remain "profitable."

He needs more BTC in order to keep shorting. He has plenty of USD. The way to squeeze a short is to simply take delivery of the asset being shorted and then sit on it.

So you are saying he sold the BTC he was holding for other members and now he has a lot of USD.  pirate wants BTC to drop so he can buy more BTC than he started with.  But, the way to make BTC drop without Bitcoinica is to sell BTC, and since he has little or no BTC he needs more BTC to do so.  That is why he is asking for more BTC from members.

And you are suggesting that the way to beat pirate is to sit on our coins and keep the price stable and/or continue to buy BTC so the price goes up?

Right?  Interesting theory.
Shadow383
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July 23, 2012, 06:00:12 PM
 #36

Looks like pirate needs more money.  He has lifted the referral requirement so now anyone can invest again in this BCTST.  I am speculating this usually happens when business goes bad so more capital is require to remain "profitable."
...Nope, can't see any reason why he'd want to pull in as many people as possible right now  Wink
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July 23, 2012, 06:05:16 PM
 #37

Looks like pirate needs more money.  He has lifted the referral requirement so now anyone can invest again in this BCTST.  I am speculating this usually happens when business goes bad so more capital is require to remain "profitable."

He needs more BTC in order to keep shorting. He has plenty of USD. The way to squeeze a short is to simply take delivery of the asset being shorted and then sit on it.

So you are saying he sold the BTC he was holding for other members and now he has a lot of USD.  pirate wants BTC to drop so he can buy more BTC than he started with.  But, the way to make BTC drop without Bitcoinica is to sell BTC, and since he has little or no BTC he needs more BTC to do so.  That is why he is asking for more BTC from members.

And you are suggesting that the way to beat pirate is to sit on our coins and keep the price stable and/or continue to buy BTC so the price goes up?

Right?  Interesting theory.

Correct, he is suggesting to hold / buy and hold.
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July 23, 2012, 06:11:56 PM
 #38

Looks like pirate needs more money.  He has lifted the referral requirement so now anyone can invest again in this BCTST.  I am speculating this usually happens when business goes bad so more capital is require to remain "profitable."

He needs more BTC in order to keep shorting. He has plenty of USD. The way to squeeze a short is to simply take delivery of the asset being shorted and then sit on it.

So you are saying he sold the BTC he was holding for other members and now he has a lot of USD.  pirate wants BTC to drop so he can buy more BTC than he started with.  But, the way to make BTC drop without Bitcoinica is to sell BTC, and since he has little or no BTC he needs more BTC to do so.  That is why he is asking for more BTC from members.

And you are suggesting that the way to beat pirate is to sit on our coins and keep the price stable and/or continue to buy BTC so the price goes up?

Right?  Interesting theory.

Yes that is exactly what I am suggesting. Also if those invested with pirate withdraw and insist on settlement in BTC and not in USD this can force pirate to have to buy BTC at market. The latter could easily set off a buying panic in this market. So yes I consider pirate in a short squeeze to be very bullish for the BTC price.

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card
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July 23, 2012, 09:42:14 PM
 #39

Sure, it would be bullish but I've seen no evidence he is in a short squeeze.  Just a bunch of wild imaginations.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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July 23, 2012, 10:28:18 PM
 #40

Sure, it would be bullish but I've seen no evidence he is in a short squeeze.  Just a bunch of wild imaginations.

Okay okay how much do you have invested with pirate currently?

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