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Author Topic: Bryan Micon's List of BTC Ponzi Schemes that should not be listed as "Lending"  (Read 107869 times)
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August 11, 2012, 06:31:09 AM
 #581

the most staunch supporters like BurtW and Bitcoinmax

staunch supporter? i think i've been pretty agnostic to be honest.

i've never said pirate's op is a ponzi, but have also never claimed that it isn't.


maybe you didn't see the link in your sig:

Bitcoin Max - Paying 6.9% per week... Small accounts welcome.

I'd say being the single largest contributor to a guy named Pirateat40, gathering all the smaller monies to ship him one big headshot each week minus a few points for yourself qualifies you as being a staunch supporter of his scam.

you are the largest affiliate of the BTC Bernie Madoff.  

If you "Never claimed it wasn't a Ponzi" it means you are smart enough to know damn well it's a ponzi and you want to close your eyes and put fingers in your ears because you are making .1% + Pirate bonuses (he gave u some "atta boy!" btc I'll bet - you have helped him steal quite a lot) each week you continue to take deposits you continue to ship money to a guy named Pirateat40 and continue the scam's operation so Pirate can profit 1 more week. 

I'm a realist.   It's a scam and you know it.  You know he doesn't have everyone's principle.  You know he's using new investment to pay interest for previous investors.  You are helping it grow, spreading evil.  

I'm not the law, but I represent justice.

You need to change your ways.


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August 11, 2012, 06:34:01 AM
 #582

I don't see anything wrong with running a passthrough that makes it clear what investors are investing in.  They are providing a service people want and do it in an honest way. All of the GLBSE passthroughs are very clear they are pirate related. All of the GLBSE passthroughs are very clear they are pirate related.  Bitcoinmax might be an exception as it could mislead novice investors.  On the other hand I suspect some of the "dank bank" kind of investments paying 1-3%/week are undisclosed passthroughs.

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August 11, 2012, 06:38:24 AM
 #583

I don't see anything wrong with running a passthrough that makes it very clear what investors are investing in.  They are providing a service people want and doing it in an honest way. All of the GLBSE passthroughs are very clear they are pirate related. All of the GLBSE passthroughs are very clear they are pirate related.  Bitcoinmax might be an exception as it could mislead novice investors.  On the other hand I suspect some of the "dank bank" kind of investments paying 1-3%/week are undisclosed passthroughs.

1)  If anyone gives any BTC to Dank Bank I can't help you.  The guy posted about getting a loan for a new car.  He wanted $17k / repay $34k.  Sounds like I guy I want to do business with.  Oh he also has a 1-3%/wk Ponzi Scheme?  shocking.

2) Bitcoinmax, in addition to enjoying the Lending category, is a main fuel source for fresh weekly investment into Pirate's scam.  Bitcoinmax "Small deposits welcome" sweeps up all the tiny scam BTC monies from the internets and ships it to a guy named Pirate in 1 lump sum.  This is disgusting what the passthroughs in general  are doing, trying to make .1% and listing clearly "If BCST fails, so does this" - this means the pass-through running knows it's a scam, but is willing to perpetuate it as long as possible making small % for himself and greatly benefiting the scammer.

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August 11, 2012, 06:47:53 AM
 #584

operators of GLBSE will be sued personally over the pirate matter.[/b]

Would an SEC action count?  4:1 odds say not likel anything will be done, at least not before October.

 - http://betsofbitco.in/item?id=334

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August 11, 2012, 07:33:20 AM
 #585

operators of GLBSE will be sued personally over the pirate matter.[/b]

Would an SEC action count?  4:1 odds say not likel anything will be done, at least not before October.

 - http://betsofbitco.in/item?id=334

Seems like an incentive for someone to report it to the SEC......

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August 11, 2012, 08:17:35 AM
 #586

operators of GLBSE will be sued personally over the pirate matter.[/b]

Would an SEC action count?  4:1 odds say not likel anything will be done, at least not before October.

 - http://betsofbitco.in/item?id=334

The timeframe is too short, give it more time and probabilities will start approaching 100%.

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August 11, 2012, 08:31:09 AM
 #587

BurtW and payb.tc will completely disappear, but will reappear on these forums under a new name.  

Bullshit, Micon.


These are honest guys.

(FTFY... You meant payb.tc)

meh, we'll see / I'll bet u will have different words for them in 2013

Great, Micon says we are SAFE till the end of 2012- works for me, Smiley

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August 11, 2012, 08:39:15 AM
 #588

operators of GLBSE will be sued personally over the pirate matter.[/b]

Would an SEC action count?  4:1 odds say not likel anything will be done, at least not before October.

 - http://betsofbitco.in/item?id=334

The timeframe is too short, give it more time and probabilities will start approaching 100%.


GLBSE isnt USD based.

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August 11, 2012, 08:50:21 AM
 #589

the most staunch supporters like BurtW and Bitcoinmax

staunch supporter? i think i've been pretty agnostic to be honest.

i've never said pirate's op is a ponzi, but have also never claimed that it isn't.


it doesnt look great that you have refused to identify yourself if you are second in command to  pirate and
some scam happens

"some people know who i am but id prefer not be named on this forum " doesnt exactly inspire much confidence ......

everyone seems to think you are running the biggest passthrough



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August 11, 2012, 09:09:19 AM
 #590

operators of GLBSE will be sued personally over the pirate matter.[/b]

Would an SEC action count?  4:1 odds say not likel anything will be done, at least not before October.

 - http://betsofbitco.in/item?id=334

The timeframe is too short, give it more time and probabilities will start approaching 100%.


GLBSE isnt USD based.

FSA would be another option http://www.fsa.gov.uk/consumerinformation/scamsandswindles
good advice there as well


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August 11, 2012, 09:09:39 AM
 #591

So are are operators of GLBSE by not performing trivial due diligence and allowing operations that are exhibiting all the signs of a ponzi scheme and their affiliates to list their "securities" on their trading platform.  The policy "you will not be allowed to be listed only if you tell me you are operating a ponzi" is not good enough for a financial service.

What's the point of a free stock exchange then? Let's not try to remedy stupidity with authority, we already have the almighty State for that. I will leave Bitcoin if this becomes the commonly accepted attitude (though I trust Nefario and other operators that it will not). It would have zero effect in reducing scams and only hamper honest business. Please accept that people will be able to do this, some people will occasionally get scammed and learn not to, and move on.

You keep thinking that I'm saying that I have proof that this is a ponzi. By definition, that is impossible.

No, it's not impossible "by definition". Technically you could have enough evidence showing that it's a ponzi.
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August 11, 2012, 09:46:17 AM
 #592

So are are operators of GLBSE by not performing trivial due diligence and allowing operations that are exhibiting all the signs of a ponzi scheme and their affiliates to list their "securities" on their trading platform.  The policy "you will not be allowed to be listed only if you tell me you are operating a ponzi" is not good enough for a financial service.

What's the point of a free stock exchange then? Let's not try to remedy stupidity with authority, we already have the almighty State for that.


+1. Recently saw some dude on RT Capital Account, I think, talking about the problem that investors were given a false sense of security (by the SEC I think) and they should do their own due diligence before investing.

I put some money into BDT (says it collects money for running/developing bitdaytrade.com). Meni Rosenfeld is consulting the guy (Alberto). This built some trust with me (maybe it shouldn't have, but it has). Should BDT turn out to be a scam... tough luck for me, didn't do my homework, will eat up the loss without accusing nefario or Meni (how could I?) to have allowed some scam to be listed or being involved doing technical consulting for them respectively... that would be absurd.

I will leave Bitcoin if this becomes the commonly accepted attitude (though I trust Nefario and other operators that it will not). It would have zero effect in reducing scams and only hamper honest business. Please accept that people will be able to do this, some people will occasionally get scammed and learn not to, and move on.

I wouldn't go that far, personally. Some kind of legal/authoritative infrastructure being built to further regulate bitcoin-related businesses would go against some of my ideals, but it wouldn't keep me from using bitcoin. It doesn't render bitcoin unusable for other, less regulated markets/uses.

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August 11, 2012, 09:51:13 AM
 #593

operators of GLBSE will be sued personally over the pirate matter.[/b]

Would an SEC action count?  4:1 odds say not likel anything will be done, at least not before October.

 - http://betsofbitco.in/item?id=334

The timeframe is too short, give it more time and probabilities will start approaching 100%.


GLBSE isnt USD based.

FSA would be another option http://www.fsa.gov.uk/consumerinformation/scamsandswindles
good advice there as well



Same guys who 'regulate' the banks that got everyone in the current worldwide situation ? You sir are still horribly blinded by the mass media of swindling corrupt government bodies.

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August 11, 2012, 09:58:20 AM
 #594

I will leave Bitcoin if this becomes the commonly accepted attitude

I wouldn't go that far, personally. Some kind of legal/authoritative infrastructure being built to further regulate bitcoin-related businesses would go against some of my ideals, but it wouldn't keep me from using bitcoin. It doesn't render bitcoin unusable for other, less regulated markets/uses.

+1, was thinking the same thing. The management of GLBSE is completely unrelated to why/whether I use bitcoin.
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August 11, 2012, 10:47:27 AM
 #595

"If BCST fails, so does this" - this means the pass-through running knows it's a scam, but is willing to perpetuate it as long as possible making small % for himself and greatly benefiting the scammer.

"If BST fails, so does this" - this means the passthrough operator doesn't have evidence one way or another whether it's a scam or not but is willing to let individual lenders make up their own mind.


for your or not to come in:

- a guy named Pirate is the first person to run a legitimate investment program to return 3000%+ APR
- he has this amazing way to make BTC by using BTC.  Market arbitraging like a boss or whatever
- now he can make large amounts of BTC, already has large amounts of BTC (remember he is killing it at whatever he is doing that he can't tell you) but for some reason still needs new investors each week, wanting to share the huge bounty

You are in a massive state of denial to still be in on the fence.  It's Ponzi101 and you are the largest affiliate.  You are responsible for building it bigger.  Or not.

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August 11, 2012, 10:57:49 AM
 #596

for your or not to come in:

- a guy named Pirate is the first person to run a legitimate investment program to return 3000%+ APR
- he has this amazing way to make BTC by using BTC.  Market arbitraging like a boss or whatever
- now he can make large amounts of BTC, already has large amounts of BTC (remember he is killing it at whatever he is doing that he can't tell you) but for some reason still needs new investors each week, wanting to share the huge bounty

You are in a massive state of denial to still be in on the fence.  It's Ponzi101 and you are the largest affiliate.  You are responsible for building it bigger.  Or not.

No, no, no.
If he didn't do it, someone else would have. He's located a demand in a market and he's making a buck, like all the PPT operators. Idk why I've been sticking up for these guys, maybe because your accusing them makes your cause look like a witch hunt when it shouldn't be. You're not going to scare away all the PPTs. People who want to give to Pirate will find away to do so. I'd run a PPT right now if I could and I wouldn't think twice about the ethics of it.
 
I'm sure there are far better analogies than this one off the top of my head... are syringe manufacturers in the wrong by making it easier for heroin addicts to shoot up?
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August 11, 2012, 11:32:42 AM
 #597

the most staunch supporters like BurtW and Bitcoinmax

staunch supporter? i think i've been pretty agnostic to be honest.

i've never said pirate's op is a ponzi, but have also never claimed that it isn't.

If you wanted to be honest, you wouldn't dodge questions like "How large is your BS&T exposure?"


There's no reason why the operators of PPTs shouldn't be completely transparent.
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August 11, 2012, 12:51:45 PM
 #598

Please, anyone had made his/her points, can we move on?

I'm starting to wish pirate stop his business just so we can move on more productive attitudes/discussions.


And please, ponzi detractors, don't let the "I know better than others" attitude make you wish for a central authority to regulate bitcoin. The whole point of bitcoin is to get rid of those  central authorities (at least in monetary matters). Everyone has to assume the consequences of his/her acts, that's freedom. GLBSE or forum moderators aren't responsible for anyone investments in Pirate's business, whatever it is. I invested some coins in it because I think I know what pirate is doing. If it turns out to be  scam, I AM SOLELY RESPONSIBLE FOR MY LOSSES. Nefario isn't, bitcointalk isn't, just me.
Your attitude is exactely where central states step in to "correct our mistakes" because they know better, and we end up in an economy where so many parasites organize their legal racket at the expense of the people.

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August 11, 2012, 01:14:15 PM
 #599

Please, anyone had made his/her points, can we move on?

I'm starting to wish pirate stop his business just so we can move on more productive attitudes/discussions.


And please, ponzi detractors, don't let the "I know better than others" attitude make you wish for a central authority to regulate bitcoin. The whole point of bitcoin is to get rid of those  central authorities (at least in monetary matters). Everyone has to assume the consequences of his/her acts, that's freedom. GLBSE or forum moderators aren't responsible for anyone investments in Pirate's business, whatever it is. I invested some coins in it because I think I know what pirate is doing. If it turns out to be  scam, I AM SOLELY RESPONSIBLE FOR MY LOSSES. Nefario isn't, bitcointalk isn't, just me.
Your attitude is exactely where central states step in to "correct our mistakes" because they know better, and we end up in an economy where so many parasites organize their legal racket at the expense of the people.

+1
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August 11, 2012, 03:11:59 PM
 #600

the most staunch supporters like BurtW and Bitcoinmax

staunch supporter? i think i've been pretty agnostic to be honest.

i've never said pirate's op is a ponzi, but have also never claimed that it isn't.


it doesnt look great that you have refused to identify yourself if you are second in command to  pirate and
some scam happens

"some people know who i am but id prefer not be named on this forum " doesnt exactly inspire much confidence ......

everyone seems to think you are running the biggest passthrough





None of it passes the smell test. These characters understand fully well what they are doing and are simply trying to hide.

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