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Author Topic: Bryan Micon's List of BTC Ponzi Schemes that should not be listed as "Lending"  (Read 107879 times)
Bitcoin Oz
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August 22, 2012, 01:30:44 PM
 #1061

seriously kids, get fucked on this one.  You were all so arrogant to the bitter end.

I'd say the fact that you're still trolling about it, long past the time when anyone can make a deposit or withdrawal on their own proves your own arrogance.  Its not like you can 'warn' anyone off.  You're just trolling for your own amusement.

Seriously why do you create new threads and put your name in the title every time ? I find it egotistical and creepy when someone speaks about themselves in the third person all the time.

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August 22, 2012, 01:32:07 PM
 #1062

seriously kids, get fucked on this one.  You were all so arrogant to the bitter end.

I'd say the fact that you're still trolling about it, long past the time when anyone can make a deposit or withdrawal on their own proves your own arrogance.  Its not like you can 'warn' anyone off.  You're just trolling for your own amusement.

Seriously why do you create new threads and put your name in the title every time ? I find it egotistical and creepy when someone speaks about themselves in the third person all the time.

Huh?  Surely you aren't talking to me.

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August 22, 2012, 01:33:50 PM
 #1063

seriously kids, get fucked on this one.  You were all so arrogant to the bitter end.

I'd say the fact that you're still trolling about it, long past the time when anyone can make a deposit or withdrawal on their own proves your own arrogance.  Its not like you can 'warn' anyone off.  You're just trolling for your own amusement.

Seriously why do you create new threads and put your name in the title every time ? I find it egotistical and creepy when someone speaks about themselves in the third person all the time.

Huh?  Surely you aren't talking to me.

No I was asking Micon  Tongue

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August 22, 2012, 07:52:56 PM
 #1064

seriously kids, get fucked on this one.  You were all so arrogant to the bitter end.

I'd say the fact that you're still trolling about it, long past the time when anyone can make a deposit or withdrawal on their own proves your own arrogance.  Its not like you can 'warn' anyone off.  You're just trolling for your own amusement.

Seriously why do you create new threads and put your name in the title every time ? I find it egotistical and creepy when someone speaks about themselves in the third person all the time.

Really? I think it's hilarious
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August 22, 2012, 08:00:48 PM
 #1065

It's a brand at this point it needs to be in the title.  Cheesy
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August 22, 2012, 09:16:07 PM
 #1066

seriously kids, get fucked on this one.  You were all so arrogant to the bitter end.

I'd say the fact that you're still trolling about it, long past the time when anyone can make a deposit or withdrawal on their own proves your own arrogance.  Its not like you can 'warn' anyone off.  You're just trolling for your own amusement.

Seriously why do you create new threads and put your name in the title every time ? I find it egotistical and creepy when someone speaks about themselves in the third person all the time.

Huh?  Surely you aren't talking to me.

u mad braj?

So before BCST went busto it was just FUD?

After BCST went busto it is just trolling?

u mad...


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August 22, 2012, 09:17:15 PM
 #1067

miscreanity, you have more patience than I.  I give up and this is my last post to this thread.

I've almost been in tears from laughing so hard at some of the stuff posted in this thread. Gotta have fun with it!

+ 1 miscreanity, you do have to always keep your sense of humor through these theads

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August 22, 2012, 09:17:54 PM
 #1068

It is difficult to say for sure how many (or few) more weeks the scheme can possibly run, but it seems we are beyond the point where any "investor", except a very small one, could successfully withdraw his entire nominal balance.

Any large withdrawal attempt would now lead to an immediate game over.

What do you consider to be 'large'?

over $5M+ USD we can consider 'large'

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August 22, 2012, 09:21:16 PM
 #1069

Ridicule is the best way to deal with the ridiculous.  Wink

I see what you did there, Fud spreading by you is alot easier than Fact spreading by me.

Supporting Micon and the facts around Micon clearly shows you being part of his scammery just as the Micon corner tries to place those who dont bend over for them regarding BTCST except we have no track record of wrong-doing punk.

remember when Clipse said this?

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August 22, 2012, 09:25:34 PM
 #1070

Demand for the impossible proof of a negative is a reliable gambit for the conman and also assuages the bedeviling consciences of the naively complicit (and there are many of those, indeed).

I guess that means whoever thought up "Innocent until proven guilty" was a conman. 

Obviously, much evidence exists that this is a ponzi scheme [as in exhibits literally each and every characteristic of a ponzi scheme], and the lack of any evidence to counter is sufficient for appropriate branding.

So far, your evidence is an unjustified return and the lack of disclosing trade secrets.  What other characteristics?   Please, document them.  Don't make generic statements, they just repeat whats already been said.

we tried to tell you over 50 pages imsaguy - we all tried to explain it in as much detail as we could - u think we all just got lucky on this one?  or did the scam exhibit all the signs the entire time, start to finish, of a classic Ponzi?

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August 22, 2012, 09:34:09 PM
 #1071

It's kind of funny... about 2 weeks ago, I was talking to someone and I said "If Its not a ponzi, then why not get just 30 percent of the depositors and get them to ask for their money back, if he cant do it, then its a ponzi, if he can then it is debatable:"

What happens? He claims to be closing up shop because it caused too many withdrawals.. THATS EXACTLY WHAT I SAID WOULD HAPPEN! When he claimed that he his "hot wallets" were drained and had to close up was my confirmation that it is a ponzi...

I really do feel bad for Matt, I really hope that I am wrong, but I just cannot see how I am...

So, When are people going to start understanding and realizing? Next year? This is the bitcoin and internet. Its funny, I transferred 5k bitcoins a couple weeks ago and it was in different wallets and it took me 5 minutes and that was 4.5 minutes too long.. He could have paid back at least 1 pass thru or 1 bigger lender by now..

Good grief...

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August 22, 2012, 09:35:34 PM
 #1072


miscreanity, are you paid for constantly trying to educate them? You seem to have endless patience.
See, in the Dark Ages, everything someone did not understand had to be done by the devil, so they had to burn the witch.
Just imagine, Vandroiy or Micon or the like as simple people from the Dark Ages, and suddenly a huge Antonov 225 flies over them. This thing weights more than 500 horses, so would you expect they can believe such a heavy thing can fly without help from the devil?
The same today, a business that is not understood, has to be a ponzi.
Just 2 years ago, everyone would have told you that Bitcoin itself is a scam, while in fact, it was a huge lost opportunity for those that dismissed it. But today everyone is jealous and whines about those early adopters.
The pirate business is the same. In the end, a lot of people will whine about the lost opportunity.
History tends to repeat itself.
Just ignore those losers.

yes, ignore the losers.  When it's a business that is not understood, maybe we should try and understand it before shipping it $5M+ USD

turns out it wasn't just too big for us witch-hunters to understand.

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August 22, 2012, 09:41:51 PM
 #1073

Dude there is a big difference between not investing and starting a fucking crusade.

Every big IPO on the stock market is a scam (why else would the current owners (insiders) sell? And don't say capital because every large business can loan the money quite cheaply). Do you see me posting this on every forum? No, I just don't buy IPOs.

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August 22, 2012, 09:51:34 PM
 #1074

Leaving this here in case you missed it:

Just to make clear the bond is now dead or closed as BTCST has failed to send me coins with in 72 hours or make interest payments.

Pirate has defaulted.

Assuming pirate will ever pay in full I will pass along the weeks interest and the face value of the bond.

Again this bond is now dead and to make clear if pirate does not send fund the bonds are worth 0 BTC.

Thank you.



I'm not sure Goat really think this is over. That's smell something.
Pirate has effectively defaulted. He failed to pay lenders/depositors at the time he said he would, even with full knowledge of the agreement. Goat's announcement is probably called for, for those who don't keep up on all this drama.

With that said, Goat has a lot of financial incentive to buy his bonds on the market at their current price if he's not worried about Pirate, and I know a bunch of lenders have been enjoying Goat's PPT bonds in the panic (at least for now).

Don't mix your coins someone said isn't legal
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August 22, 2012, 09:56:52 PM
 #1075

Dude there is a big difference between not investing and starting a fucking crusade.

Every big IPO on the stock market is a scam (why else would the current owners (insiders) sell? And don't say capital because every large business can loan the money quite cheaply). Do you see me posting this on every forum? No, I just don't buy IPOs.

Liquidity.  Especially during the growth phase.  Last time I check you can't eat a share certificate.
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August 22, 2012, 10:00:26 PM
 #1076

Dude there is a big difference between not investing and starting a fucking crusade.

Every big IPO on the stock market is a scam (why else would the current owners (insiders) sell? And don't say capital because every large business can loan the money quite cheaply). Do you see me posting this on every forum? No, I just don't buy IPOs.

Liquidity.  Especially during the growth phase.  Last time I check you can't eat a share certificate.

Added some emphasis. IPO-ing for a fair price as an established company is stupid as you can loan cheaply instead of selling equity. IPO-ing when the market highly overvalues the business however is great Smiley

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August 22, 2012, 11:30:46 PM
 #1077

prolly the giant pirate wallet:

https://bitcointalk.org/index.php?topic=94675.0


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August 22, 2012, 11:53:33 PM
 #1078

In my humble opinion, you are being dismissive because you're convinced that it would be best if everyone stopped investing in these schemes.
Yes, exactly. Legitimate investments don't involve a complete absence of disclosure of what you're investing in, no way to estimate the actual level of risk, and no way to tell whether claimed losses were actually incurred or whether claimed profits were actually legitimate. No honest person should ask for investments on terms only a fool would accept.

We have actually seen offers that were basically: "Give me some money to invest, if I make money, I'll share it with you. Otherwise, you'll have to take my word that I actually lost your money in some kind of actual investment". That was literally all they were saying. And people were actually taking this offer seriously. That shows that this community is massively disconnected from reality.

If I understand you correctly, this is inaccurate, as some borrowers (we were debating vescudero) say they guarantee deposits. They may or may not be lying, but that still makes your statement invalid. Guaranteed pass-throughs ran by anonymous parties are uniformly paying out of their pockets because of the default, what "reality" makes them obey the contract which somehow excludes a known individual?

My other point is, what is the difference between these business descriptions:

  • lending out to other borrowers, investing in short term opportunities and investing in other bitcoin projects
  • buying and mining with 10 BFL Single's and preordering 10 more Single SC's

Both have the same potential to be a scam. If you would support a bias towards the second one, the effect would be nothing more than making the scammers pick that method instead.

All I'm saying is, your point is less convincing when presented as clear-cut. Even though the basic reasoning is sound, the dismissive approach will continue to lose effectiveness as exceptions to the "rule" increases.

Quote
Although I agree with the sentiment, that approach is hopeless.
I'm not giving up so easily.

Okay, there may be a collective unconscious thing going on, but I'm not so sure. If we are to avoid a centralized authority AND do business with people we can't pose a physical threat to, it seems to me that short of independent audits and a transparent checklist (rather than a rating maybe?) will be totally ineffective.

My opinion may not have merit, but I haven't seen this perspective presented before, so there. Smiley


Even after Bernie Madoff, Allen Stanford and now pirateat40 you still write rubbish like this? You are a complete idiot. Just give your bitcoins away now, it will save you some time.

If you think your comment is anything but redundant, you're as delusional as the ponzi investors.
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August 22, 2012, 11:55:31 PM
 #1079

Also at 7pm PST (in about 2 hrs) I'm going to do a DonkDown radio podcast about the Pirate Ponzi

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August 23, 2012, 12:02:23 AM
 #1080

Dude there is a big difference between not investing and starting a fucking crusade.

Every big IPO on the stock market is a scam (why else would the current owners (insiders) sell? And don't say capital because every large business can loan the money quite cheaply). Do you see me posting this on every forum? No, I just don't buy IPOs.

Liquidity.  Especially during the growth phase.  Last time I check you can't eat a share certificate.

Added some emphasis. IPO-ing for a fair price as an established company is stupid as you can loan cheaply instead of selling equity. IPO-ing when the market highly overvalues the business however is great Smiley

OR sometimes the insiders want to reduce risk(to their wealth) and cash in and put some real(not paper) money in the bank. Look at Google- IPO'd for $100, go check what the market thinks it's worth now.

I do like debt(check my responses in D&T's loan thread) as a way to gain capital, but issuing equity(instead of debt) allows a company to weather a down turn much more easily than with large amounts of debt.

I do concede your general premise isn't a bad way to think, but it's certainly not always the case. Remember, diversity(in a portfolio) is the only free lunch.
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