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Author Topic: Bryan Micon's List of BTC Ponzi Schemes that should not be listed as "Lending"  (Read 107968 times)
imsaguy
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August 07, 2012, 04:34:34 PM
 #441

Pirate and his cronies

Please, who are his cronies?

You're obviously one of them!

 Cheesy

How so?

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August 07, 2012, 04:39:35 PM
 #442


You realize until you have the coins in your wallet your gain is zero and your loss is 10,000 BTC, right?

You realize that the best way for him to maximize his return is to convince additional marks to put money into it, right? BurtW seems to understand it perfectly.
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August 07, 2012, 05:19:00 PM
 #443

so you are going to kick me in the nads before Pirate even though he's stealing $1M+ USD from the BTC community and I'm pointing it out?  

Again I ask you to provide any shred of evidence for your claim above and I bet you will again ignore this question.

Show all of us your evidence of the $1M+ that pirate stole from the BTC community and I will back you up on all the retarded posts you have made so far.

Please, I am waiting. Maybe after reading this a few times you will figure out just how retarded all these claims come to be but it wouldnt surprise me that you dont understand the difference between speculation and facts.

...In the land of the stale, the man with one share is king... >> Clipse

We pay miners at 130% PPS | Signup here : Bonus PPS Pool (Please read OP to understand the current process)
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August 07, 2012, 05:24:40 PM
 #444

Another newbie troll who escaped just long enough to voice his over confident opinion on things he really doesnt understand, Check.

Seriously, this is what irritates me with these threads.

Why is it that every time someone posts something negative about BS&T one of you has to start posting ad-hominem attacks against that person? If it's so illogical in your opinion then fight it with logic.

Look in the mirror and you will realise this goes both ways. If you and your possies want to spew speculative bs as facts then I will respond except I respond with known facts and that which I dont know I simply dont comment on, its called being smart, you should try it.
Uh huh.
So giving vast amounts of money to some random guy on the internet who claims to be able to offer you absolutely vast returns, but won't disclose his business model, liabilities etc etc etc is "being smart" is it?

Funny, that sounds a lot like being gullible.
Perhaps if:

1-There was some evidence that the sort of trade required to make those interest payments every week without eating into principal was taking place.
2-Pirate and his cronies were a bit more transparent about things like the size of liabilities involved.

Then people might be happier with the idea of investing.

Throwing your money into a black box in a pseudo-anonymous currency in which chargebacks are impossible isn't "being smart" - I can accept if people want to take the risk for those returns, but there are some serious questions that need answered before I'm convinced it's not a scam.

So, stop being such a monumental tool, basically.

You need to go back to school and understand that those who make the claim should provide the evidence/facts. You are the one claiming this is a scam/ponzi without any evidence. Its not up to me to convince you that its not a scam/ponzi.

Those who want to invest will invest, the only people seemingly unhappy in this thread is those of you who have no interest to invest anyways which I find amusing.

None of my responses are geared towards getting people to invest, I really couldnt give 2 shits if people dont invest, I am merely pointing out how all of your "cronies" keep barking about this without ANY evidence yet stating your reasons as facts.

Id much rather be a logical sharp usefull tool than an illogical emotional manchild.

...In the land of the stale, the man with one share is king... >> Clipse

We pay miners at 130% PPS | Signup here : Bonus PPS Pool (Please read OP to understand the current process)
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August 07, 2012, 06:36:24 PM
 #445

You need to go back to school and understand that those who make the claim should provide the evidence/facts. You are the one claiming this is a scam/ponzi without any evidence. Its not up to me to convince you that its not a scam/ponzi.

Thanks to this glowing appraisal of yours, allow me to announce my fantastic new business plan:

5000% APR Deposits!  Cheesy

FAQ:
1- "So what's your business plan?"
Can't tell you. Arbitrage. Need money.

2- "Who are your customers?"
Can't tell you. Secret.

3- "What are your liabilities?"
LOL, Why are you interested, moron?

4- "Where do you derive your revenue stream?"
LOL, It's so obvious, why can't you work it out?

5- "There doesn't seem to be enough traffic on any of the known exchanges for you to make enough profit to fund your returns without eating into principle. Where are you trading, with whom?"
LOL, Can't tell you. Secret.

Minimum deposit 500BTC, 10000% APR if you deposit over 10000BTC.
FIRST COME FIRST SERVE!

Okay, so I jest.

The point is, you're totally full of shit here Clipse. The responsibility of disclosing major business fundamentals lies with the person who runs the business. If someone suspects fraud, I'd argue that it's their duty to make others aware of that. If there's clearly nothing to their argument, then people won't be dissuaded from investing.

If, however, there is something to the argument, then it's up to the business owner, or people involved in the business (in this case, Pirate and the operators of the various PPT schemes) to prove that the allegations are false.

The "proving the allegations are false" bit usually requires you to provide proof of, say:

-Some sort of revenue stream asides new deposits that would cover interest payments.
-Assets greater than liabilities.

Something along those lines.

To clarify, personal attacks directed at people who have doubts about BS&T do not count as evidence that its operations are sound Embarrassed
I know, that's a great shame, you were all doing so well.

The correct way to stop people speculating that BS&T is a giant ponzi would be to provide evidence that it has some obscenely profitable business asides taking deposits. This should be remarkably easy for any business, legal or otherwise, and let's not forget that the BS&T FAQ states that nothing it does is illegal, so there should be little to hide.
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August 07, 2012, 06:37:29 PM
 #446

so you are going to kick me in the nads before Pirate even though he's stealing $1M+ USD from the BTC community and I'm pointing it out?  

Again I ask you to provide any shred of evidence for your claim above and I bet you will again ignore this question.

Show all of us your evidence of the $1M+ that pirate stole from the BTC community and I will back you up on all the retarded posts you have made so far.

Please, I am waiting. Maybe after reading this a few times you will figure out just how retarded all these claims come to be but it wouldnt surprise me that you dont understand the difference between speculation and facts.

so here we are again, with Pirate acting exactly, and I mean almost to the letter of a ponzi:

1)  Here is a 5 min video explaining how a Ponzi Scheme is a redistribution of wealth, not an investment or lending activity.  http://www.youtube.com/watch?v=MW5aDmQLqVY

2)  here is a second link with some elements to look for in a Ponzi -- http://economics.about.com/od/financialmarkets/f/ponzi_scheme.htm

3)  here is the wikipedia for a Ponzi -- http://en.wikipedia.org/wiki/Ponzi_scheme

4)  here are pirateat40's own words from this thread:  https://bitcointalk.org/index.php?topic=50822.0

Frequently Asked Questions

Q: Why should I trust you?
A: My #bitcoin-otc ratings are available in my signature. I've run BS&T for a while now and although past performance does not guarantee future results, it does alleviate some of the concerns investing brings. With that said, you should always consider an investments objectives, risks and expenses before investing your money.

Q: What are my coins used for?
A: Coins are primarily used for large investment transactions but may also include the following:
Market Arbitrage
Private Loans To Network Members
Never Criminal/Illegal Related

Q: How do you make enough money to pay these rates?
A: If I told you then I couldn't do what I do.  

Q: How do I setup an account?
A: To open an account at BS&T you'll need to be referred by a current account holder.  This allows me to limit new accounts from unknown or untrustworthy users while building trust between the members of the network.

Q: Why did you send coins back to me?
A: The system has a floating threshold that's based on the amount of activity expected in any given week.  If a deposit is made that exceeds the threshold, coins are forced out of the system.

Current Weekly Interest Rates 3
5,000+ BTC 5%
15,000+ BTC 6%
25,000+ BTC 7%


If the bolded area did not scare you off this investment, your scam-dar is severely broken and you must repair it.  If I'm short and condescending it's because your stupid for investing in this bullshit.  I have been stupid and gotten scammed before too.  I'm trying to help anyone that is currently invested get out and I'm trying to prevent new ppl on the fence from getting scammed.

The very first line of "Characteristics" under the Ponzi wiki:

Typically extraordinary returns are promised on the investment,[5] and vague verbal constructions such as "hedge futures trading," "high-yield investment programs", "offshore investment" might be used


NOW FUCKING OPEN YOUR GOD DAMN EYES AND LOOK AT PIRATEAT40'S FAQ:


Pirateat40's FAQ:
Q: What are my coins used for?
A: Coins are primarily used for large investment transactions but may also include the following:
Market Arbitrage
Private Loans To Network Members
Never Criminal/Illegal Related


DOES THAT SOUND LIKE VAGUE CONSTRUCTIONS?  HIGH-YIELD INVESTMENT PROGRAMS?  MOTHERFUCKER SAYS "LARGE INVESTMENT TRANSACTIONS" AND THE OLDIE BUT GOODIE "MARKET ARBITRAGE" AND YOU GUYS FIRE $1M+ USD WORTH OF BTC TO A GUY ON THE INTERNET NAMED PIRATE.  AT LEAST THE STORY WILL BE FULL OF YOUR NAIVE AND CUTE LITTLE FINANCIAL LULZ

Chairman SwCPoker.eu Bitcoin Poker 2.0 |  Pro Poker Player  |  blog & podcas DonkDown.com | @BryanMicon | 2015- PGP Key
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August 07, 2012, 06:39:53 PM
 #447

DOES THAT SOUND LIKE VAGUE CONSTRUCTIONS?  HIGH-YIELD INVESTMENT PROGRAMS?  MOTHERFUCKER SAYS "LARGE INVESTMENT TRANSACTIONS" AND THE OLDIE BUT GOODIE "MARKET ARBITRAGE" AND YOU GUYS FIRE $1M+ USD WORTH OF BTC TO A GUY ON THE INTERNET NAMED PIRATE.  AT LEAST THE STORY WILL BE FULL OF YOUR NAIVE AND CUTE LITTLE FINANCIAL LULZ
It's easy to get angry at this sort of thing, but please try not to fly off the handle.
I was trying in my post above yours to get people to discuss the business itself rather than a constant back and forth of personal attacks.
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August 07, 2012, 09:08:25 PM
 #448

so you are going to kick me in the nads before Pirate even though he's stealing $1M+ USD from the BTC community and I'm pointing it out?  

[snip]A LOAD OF BLABBERING[/snip]

Please answer me with all your evidence of him STEALING $1M+ USD as you stated. You dont claim he will steal it, you claimed now that he is currently/allready stealing it in your own words which I have requoted again.

Sorry similar examples doesnt constitute as facts even though it might give you some strange arousal thinking you are the GOTCHA MAN.

If you lack the fundamental command of the english language and dont understand that you expressed his theft as something that allready occurred then you should really hit up books other than poker-related.

PS. Nothing will ever beat your own financial LULZ 500% expected interest within 24hrs on loan that you got scammed for, NOW THATS going down in history as the biggest turd.

...In the land of the stale, the man with one share is king... >> Clipse

We pay miners at 130% PPS | Signup here : Bonus PPS Pool (Please read OP to understand the current process)
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August 07, 2012, 09:19:02 PM
 #449

Micon here is something for you to get a huge hissyfit over: https://geniuscapital.biz

3.3% daily compounded interest, registered UK company, Now what big boy ?

...In the land of the stale, the man with one share is king... >> Clipse

We pay miners at 130% PPS | Signup here : Bonus PPS Pool (Please read OP to understand the current process)
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August 07, 2012, 09:23:10 PM
 #450

My virus scanner blocks that site and says it's suspicious.

Edit:

And after looking through Google cache I'd say that is a Ponzi

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August 07, 2012, 09:26:25 PM
 #451

My virus scanner blocks that site and says it's suspicious.

Edit:

And after looking through Google cache I'd say that is a Ponzi

Its not a virus, company is registered under proper UK law, no way in hell they would operate as a ponzi while being registered with actual offices. If this is a registered company and its a ponzi then there is bigger problems than all the shit being flinged in this thread.

...In the land of the stale, the man with one share is king... >> Clipse

We pay miners at 130% PPS | Signup here : Bonus PPS Pool (Please read OP to understand the current process)
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August 07, 2012, 09:27:55 PM
 #452

how can u even compare pirate's scheme to an obvious ponzi? pirate has nowhere near the rates of a real ponzi and no ponzi lasts for nearly a year...
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August 07, 2012, 09:32:28 PM
 #453

How has such a thread got so many replies?
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August 07, 2012, 09:37:56 PM
 #454

My virus scanner blocks that site and says it's suspicious.

Edit:

And after looking through Google cache I'd say that is a Ponzi

Its not a virus, company is registered under proper UK law, no way in hell they would operate as a ponzi while being registered with actual offices. If this is a registered company and its a ponzi then there is bigger problems than all the shit being flinged in this thread.

I don't know about registering a company in the UK but I the Netherlands it's very easy and restricted to paying a fee and filing out a form. I doubt it is different in the UK.

Edit:

And the company is dormant for being overdue to extend their enlistment:

http://wck2.companieshouse.gov.uk/653621265522f6a3f8b4937cde05b083/compdetails

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August 07, 2012, 09:43:56 PM
 #455

3) I know exactly what he is doing, how he does it and why.  It is not a ponzi. It is a a legit business taking advantage of a rare economic opportunity that was just explained to you better and more detail than I have seen anywhere else.

Seems like we are past the denial / drank the kool-aid theory.

BurtW - you know exactly what you are doing - it's shameful and I hate you for doing it.  You are knowingly defrauding many users, making a small profit yourself, and helping the largest BTC scammer ever run a scam. 

I hope you get Dox'd / wish I met you to take a pic.
So that justifies hating him for it?

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August 07, 2012, 10:00:42 PM
 #456

how can u even compare pirate's scheme to an obvious ponzi? pirate has nowhere near the rates of a real ponzi and no ponzi lasts for nearly a year...

Madoff paid ~11% per year. He ran his for over 30 years. You haven't a clue what you're talking about.
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August 07, 2012, 10:06:27 PM
 #457

Without wanting to detract or trying to correct anything else from the other posts, could you please update the OP for PPT.x.  Burt is no longer an owner after I purchased the core shares of the five founders last week.  It continues as a ring-fenced operation separate from my personal and Starfish BCB business.
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August 07, 2012, 10:18:15 PM
 #458

Not that Micon cares about being accurate, but EIEIO specifically states it is in mining.  It has been in my signature for ages.  To claim I don't disclose what I do is just wrong.

Coming Soon!™ © imsaguy 2011-2013, All rights reserved.

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https://bitcointalk.org/index.php?topic=60117.0

Shades Minoco Collection Thread: https://bitcointalk.org/index.php?topic=65989
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August 07, 2012, 10:51:18 PM
 #459

how can u even compare pirate's scheme to an obvious ponzi? pirate has nowhere near the rates of a real ponzi and no ponzi lasts for nearly a year...
Actually:

Charles Ponzi offered rates of about 2600% APR, so BS&T's rates are a bit higher than the original ponzi.
Berni Madoff's ponzi ran for about 40 years.

Micon here is something for you to get a huge hissyfit over: https://geniuscapital.biz

3.3% daily compounded interest, registered UK company, Now what big boy ?
-Company proposed to be struck off the register by companies house and shown as "Dormant".
-Overdue by four months in submitting accounts.
-Registered address is a mail-forwarding and safe-deposit box business in london.
-Has a specific Financial Services Authority warning: http://www.fsa.gov.uk/pages/Doing/Regulated/Law/pdf/genius-international.pdf
-Offers comission for those bringing in new deposits.

Seems legit.
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August 07, 2012, 11:16:58 PM
 #460

how can u even compare pirate's scheme to an obvious ponzi? pirate has nowhere near the rates of a real ponzi and no ponzi lasts for nearly a year...

The real Ponzi offered to double clients' money in 100 days.  That works out at:

Code:
>>> 100*(2.0**(7.0/100)-1)
4.971668362306736

4.97 percent per week.

That's pretty much the same as Pirate's rates.

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