nrd525



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Merit: 1014







LegendaryActivity: 1787Merit: 1014 Re: Putting your money where Pirate's mouth is. July 06, 2012, 08:17:06 PM #105 Pirate may lose reputation from taking this bet if a lot of people with good reputations decide to bet against him, and fewer bet with him.



Is Nanotube extremely reliable? He has been around forever and started bitcoin-otc. That is all I know.



For arbitraging the bet (betting for a default and depositing money with Pirate), you can still lose money if Pirate closes up the operation and returns the money before your interest exceeds the size of your bet. However, that seems the least likely of the three options (default, growth, return money).

Digital Gold for Gamblers and True Believers

Vandroiy



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Activity: 1036

Merit: 1001







LegendaryActivity: 1036Merit: 1001 Re: Putting your money where Pirate's mouth is. July 06, 2012, 08:40:11 PM #107



I wanna seal this already, I'm really curious what Pirateat40 will do. In all honesty, I can't tell, just guess the odds. If he manages to pay out, I know he actually got more coins somewhere, and I learned he's the guy to go through great hassle to get back at people. I really doubt it, but who knows?



If he stalls, it's obvious he will not take the bet and default soon.



And then he could just sign it and act as if everything's normal. That's where BS&T is healthier than expected and we'll get a major Ponzi final -- if he correctly guessed the bet will aid his credibility as much as he hopes.



I couldn't make that call; really wondering what his choice will be, and whether he has all three options in the first place.







Currently, he's talking with nanotube. I don't see any new info @tm...



No wait, he may just be stalling. Man. No share for me, Pirateat40?



Edit: Why is this so complicated... can't we just agree on nanotube judging dubious cases with some delay? It's not like I'm claiming there will be a minor problem in the bookkeeping, and I pretty much confirmed I'm fucked if you put up the money from wherever, as long as nobody notices that "wherever" is a trick. I think we're giving him a hard time. Sorry nanotube!I wanna seal this already, I'm really curious what Pirateat40 will do. In all honesty, I can't tell, just guess the odds. If he manages to pay out, I know he actually got more coins somewhere,I learned he's the guy to go through great hassle to get back at people. I really doubt it, but who knows?If he stalls, it's obvious he will not take the bet and default soon.And then he could just sign it and act as if everything's normal. That's where BS&T is healthier than expected and we'll get a major Ponzi final -- if he correctly guessed the bet will aid his credibility as much as he hopes.I couldn't make that call; really wondering what his choice will be, and whether he has all three options in the first place.Currently, he's talking with nanotube. I don't see any new info @tm...No wait, he may just be stalling. Man. No share for me, Pirateat40?

Vandroiy



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Activity: 1036

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LegendaryActivity: 1036Merit: 1001 Re: Putting your money where Pirate's mouth is. July 06, 2012, 09:38:55 PM #115



I guess that's it, finally getting an answer to what Pirateat40 has been planning on this. If he plans a payout, he'll announce it soon, since I doubt he's infinitely rich. In that case, my only request for you guys is to push him to get the funds to a charity before there is a new lending operation. We're all three on IRC, trying to finish, check and sign the final contract.I guess that's it, finally getting an answer to what Pirateat40 has been planning on this. If he plans a payout, he'll announce it soon, since I doubt he's infinitely rich.In that case, my only request for you guys is to push him to get the funds to a charity before there is a new lending operation.

nanotube



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Hero MemberActivity: 482Merit: 500 Re: Putting your money where Pirate's mouth is. July 06, 2012, 09:43:55 PM #116



Quote

Hash: SHA1



This contract is a contingent payout agreement between irc user known as pirateat40 (otc gpg key fingerprint 067508A49BBE0E8216A61A94614DB74CFA5B357E) and irc user known as vandroiy (otc gpg key fingerprint 5BD4BBB2FAABBB6877396A720380BA6269B31D08).



otc user nanotube (otc gpg key fingerprint D8B11AAC59A873B0F38D475CE7F938BEC95594B2) will serve as escrow agent for the agreement, holding in his care the bitcoin contributions from both parties, until such a time as the contingency can be decided unambiguously.



The contingency in question is to be the default of by pirateat40 (defined below) on BTCST obligations. In case default occurs, the funds held by nanotube will be disbursed to an address of vandroiy's choosing. In case default does not occur, the funds will be disbursed to an address of pirateat40's choice.



pirateat40 and vandroiy shall each deposit with nanotube 5050 (five thousand and fifty) bitcoins, of which 50 (fifty) shall be a fee to nanotube, and 5000 (five thousand) shall go toward the contingent payout, for a total of 100 (one hundred) bitcoins fee to nanotube, and 10000 (ten thousand) bitcoins contingent payout.



=Definitions=



==Pirate default==



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.



===Verification of default claims===



nanotube will hold in his possession a data set containing hashed usernames and withdrawal addresses of all BTCST account holders, and will be supplied any differences in such table at regular intervals, in case of account closures or creations. A user making a claim must submit to nanotube his BTCST account username, and registered BTCST withdrawal address, as well as any supporting documentation as to the payments that were due but failed to be disbursed.



===Unexpected contingencies===



In the event of any unexpected contingencies not explicitly described in this contract, or any ambiguities, nanotube shall have final discretion in the determination of contract outcome.



===Change in BTCST ToS===



BTCST has the right to change the terms of its outstanding deposits at any time, as long as there is advance notice of at least 30 calendar days. Such changes may include changes in promised interest rates (as long as interest rates do not go below zero), changes in interest disbursement frequency (not to exceed 1 month intervals), interest tiers, forced withdrawals. Such changes shall not be construed to be a default event.



The event of dissolution of the BTCST business and return of all owed funds to all account holders, also shall not be construed as a default event.



==BTCST==



BTCST is the business known as "Bitcoin Savings and Trust", currently being operated by pirateat40, with current web address of

-----BEGIN PGP SIGNATURE-----



iEYEARECAAYFAk/3W14ACgkQ5/k4vslVlLK1iwCcC/9DejW57u4Z+bLGnjKseEpN

GOEAn0vzfaCUYWlkW1mSyRRyRxsVpkmc

=CoVk

-----END PGP SIGNATURE-----

-----BEGIN PGP SIGNED MESSAGE-----Hash: SHA1This contract is a contingent payout agreement between irc user known as pirateat40 (otc gpg key fingerprint 067508A49BBE0E8216A61A94614DB74CFA5B357E) and irc user known as vandroiy (otc gpg key fingerprint 5BD4BBB2FAABBB6877396A720380BA6269B31D08).otc user nanotube (otc gpg key fingerprint D8B11AAC59A873B0F38D475CE7F938BEC95594B2) will serve as escrow agent for the agreement, holding in his care the bitcoin contributions from both parties, until such a time as the contingency can be decided unambiguously.The contingency in question is to be the default of by pirateat40 (defined below) on BTCST obligations. In case default occurs, the funds held by nanotube will be disbursed to an address of vandroiy's choosing. In case default does not occur, the funds will be disbursed to an address of pirateat40's choice.pirateat40 and vandroiy shall each deposit with nanotube 5050 (five thousand and fifty) bitcoins, of which 50 (fifty) shall be a fee to nanotube, and 5000 (five thousand) shall go toward the contingent payout, for a total of 100 (one hundred) bitcoins fee to nanotube, and 10000 (ten thousand) bitcoins contingent payout.=Definitions===Pirate default==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.===Verification of default claims===nanotube will hold in his possession a data set containing hashed usernames and withdrawal addresses of all BTCST account holders, and will be supplied any differences in such table at regular intervals, in case of account closures or creations. A user making a claim must submit to nanotube his BTCST account username, and registered BTCST withdrawal address, as well as any supporting documentation as to the payments that were due but failed to be disbursed.===Unexpected contingencies===In the event of any unexpected contingencies not explicitly described in this contract, or any ambiguities, nanotube shall have final discretion in the determination of contract outcome.===Change in BTCST ToS===BTCST has the right to change the terms of its outstanding deposits at any time, as long as there is advance notice of at least 30 calendar days. Such changes may include changes in promised interest rates (as long as interest rates do not go below zero), changes in interest disbursement frequency (not to exceed 1 month intervals), interest tiers, forced withdrawals. Such changes shall not be construed to be a default event.The event of dissolution of the BTCST business and return of all owed funds to all account holders, also shall not be construed as a default event.==BTCST==BTCST is the business known as "Bitcoin Savings and Trust", currently being operated by pirateat40, with current web address of https://btcst.com/ -----BEGIN PGP SIGNATURE-----iEYEARECAAYFAk/3W14ACgkQ5/k4vslVlLK1iwCcC/9DejW57u4Z+bLGnjKseEpNGOEAn0vzfaCUYWlkW1mSyRRyRxsVpkmc=CoVk-----END PGP SIGNATURE----- Contract signed by me. Expect same contract signed by pirateat40 and vandroiy shortly. Once deposits are made, I'll post confirmation message.

Join #bitcoin-otc - an over-the-counter trading market.

OTC web of trust:

My trust rating: Join #bitcoin-market on freenode for real-time market updates.Join #bitcoin-otc - an over-the-counter trading market. http://bitcoin-otc.com OTC web of trust: http://bitcoin-otc.com/trust.php My trust rating: http://bitcoin-otc.com/viewratingdetail.php?nick=nanotube

Vandroiy



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Activity: 1036

Merit: 1001







LegendaryActivity: 1036Merit: 1001 Re: Putting your money where Pirate's mouth is. July 06, 2012, 09:45:28 PM

Last edit: July 06, 2012, 09:57:49 PM by Vandroiy #117 Quote

Hash: SHA1



This contract is a contingent payout agreement between irc user known as pirateat40 (otc gpg key fingerprint 067508A49BBE0E8216A61A94614DB74CFA5B357E) and irc user known as vandroiy (otc gpg key fingerprint 5BD4BBB2FAABBB6877396A720380BA6269B31D08).



otc user nanotube (otc gpg key fingerprint D8B11AAC59A873B0F38D475CE7F938BEC95594B2) will serve as escrow agent for the agreement, holding in his care the bitcoin contributions from both parties, until such a time as the contingency can be decided unambiguously.



The contingency in question is to be the default of by pirateat40 (defined below) on BTCST obligations. In case default occurs, the funds held by nanotube will be disbursed to an address of vandroiy's choosing. In case default does not occur, the funds will be disbursed to an address of pirateat40's choice.



pirateat40 and vandroiy shall each deposit with nanotube 5050 (five thousand and fifty) bitcoins, of which 50 (fifty) shall be a fee to nanotube, and 5000 (five thousand) shall go toward the contingent payout, for a total of 100 (one hundred) bitcoins fee to nanotube, and 10000 (ten thousand) bitcoins contingent payout.



=Definitions=



==Pirate default==



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.



===Verification of default claims===



nanotube will hold in his possession a data set containing hashed usernames and withdrawal addresses of all BTCST account holders, and will be supplied any differences in such table at regular intervals, in case of account closures or creations. A user making a claim must submit to nanotube his BTCST account username, and registered BTCST withdrawal address, as well as any supporting documentation as to the payments that were due but failed to be disbursed.



===Unexpected contingencies===



In the event of any unexpected contingencies not explicitly described in this contract, or any ambiguities, nanotube shall have final discretion in the determination of contract outcome.



===Change in BTCST ToS===



BTCST has the right to change the terms of its outstanding deposits at any time, as long as there is advance notice of at least 30 calendar days. Such changes may include changes in promised interest rates (as long as interest rates do not go below zero), changes in interest disbursement frequency (not to exceed 1 month intervals), interest tiers, forced withdrawals. Such changes shall not be construed to be a default event.



The event of dissolution of the BTCST business and return of all owed funds to all account holders, also shall not be construed as a default event.



==BTCST==



BTCST is the business known as "Bitcoin Savings and Trust", currently being operated by pirateat40, with current web address of



-----BEGIN PGP SIGNATURE-----

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cKFIVOUTO6Jlqh1DwMSQ

=Ig2i

-----END PGP SIGNATURE-----

-----BEGIN PGP SIGNED MESSAGE-----Hash: SHA1This contract is a contingent payout agreement between irc user known as pirateat40 (otc gpg key fingerprint 067508A49BBE0E8216A61A94614DB74CFA5B357E) and irc user known as vandroiy (otc gpg key fingerprint 5BD4BBB2FAABBB6877396A720380BA6269B31D08).otc user nanotube (otc gpg key fingerprint D8B11AAC59A873B0F38D475CE7F938BEC95594B2) will serve as escrow agent for the agreement, holding in his care the bitcoin contributions from both parties, until such a time as the contingency can be decided unambiguously.The contingency in question is to be the default of by pirateat40 (defined below) on BTCST obligations. In case default occurs, the funds held by nanotube will be disbursed to an address of vandroiy's choosing. In case default does not occur, the funds will be disbursed to an address of pirateat40's choice.pirateat40 and vandroiy shall each deposit with nanotube 5050 (five thousand and fifty) bitcoins, of which 50 (fifty) shall be a fee to nanotube, and 5000 (five thousand) shall go toward the contingent payout, for a total of 100 (one hundred) bitcoins fee to nanotube, and 10000 (ten thousand) bitcoins contingent payout.=Definitions===Pirate default==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.===Verification of default claims===nanotube will hold in his possession a data set containing hashed usernames and withdrawal addresses of all BTCST account holders, and will be supplied any differences in such table at regular intervals, in case of account closures or creations. A user making a claim must submit to nanotube his BTCST account username, and registered BTCST withdrawal address, as well as any supporting documentation as to the payments that were due but failed to be disbursed.===Unexpected contingencies===In the event of any unexpected contingencies not explicitly described in this contract, or any ambiguities, nanotube shall have final discretion in the determination of contract outcome.===Change in BTCST ToS===BTCST has the right to change the terms of its outstanding deposits at any time, as long as there is advance notice of at least 30 calendar days. Such changes may include changes in promised interest rates (as long as interest rates do not go below zero), changes in interest disbursement frequency (not to exceed 1 month intervals), interest tiers, forced withdrawals. Such changes shall not be construed to be a default event.The event of dissolution of the BTCST business and return of all owed funds to all account holders, also shall not be construed as a default event.==BTCST==BTCST is the business known as "Bitcoin Savings and Trust", currently being operated by pirateat40, with current web address of https://btcst.com/ -----BEGIN PGP SIGNATURE-----Version: GnuPG v1.4.11 (GNU/Linux)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Ig2i-----END PGP SIGNATURE-----

pirateat40

Sr. Member



Offline



Activity: 378

Merit: 250





"Yes I am a pirate, 200 years too late."







Avast Ye!Sr. MemberActivity: 378Merit: 250"Yes I am a pirate, 200 years too late." Re: Putting your money where Pirate's mouth is. July 06, 2012, 09:49:17 PM #118

Hash: SHA1



This contract is a contingent payout agreement between irc user known as pirateat40 (otc gpg key fingerprint 067508A49BBE0E8216A61A94614DB74CFA5B357E) and irc user known as vandroiy (otc gpg key fingerprint 5BD4BBB2FAABBB6877396A720380BA6269B31D08).



otc user nanotube (otc gpg key fingerprint D8B11AAC59A873B0F38D475CE7F938BEC95594B2) will serve as escrow agent for the agreement, holding in his care the bitcoin contributions from both parties, until such a time as the contingency can be decided unambiguously.



The contingency in question is to be the default of by pirateat40 (defined below) on BTCST obligations. In case default occurs, the funds held by nanotube will be disbursed to an address of vandroiy's choosing. In case default does not occur, the funds will be disbursed to an address of pirateat40's choice.



pirateat40 and vandroiy shall each deposit with nanotube 5050 (five thousand and fifty) bitcoins, of which 50 (fifty) shall be a fee to nanotube, and 5000 (five thousand) shall go toward the contingent payout, for a total of 100 (one hundred) bitcoins fee to nanotube, and 10000 (ten thousand) bitcoins contingent payout.



=Definitions=



==Pirate default==



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.



===Verification of default claims===



nanotube will hold in his possession a data set containing hashed usernames and withdrawal addresses of all BTCST account holders, and will be supplied any differences in such table at regular intervals, in case of account closures or creations. A user making a claim must submit to nanotube his BTCST account username, and registered BTCST withdrawal address, as well as any supporting documentation as to the payments that were due but failed to be disbursed.



===Unexpected contingencies===



In the event of any unexpected contingencies not explicitly described in this contract, or any ambiguities, nanotube shall have final discretion in the determination of contract outcome.



===Change in BTCST ToS===



BTCST has the right to change the terms of its outstanding deposits at any time, as long as there is advance notice of at least 30 calendar days. Such changes may include changes in promised interest rates (as long as interest rates do not go below zero), changes in interest disbursement frequency (not to exceed 1 month intervals), interest tiers, forced withdrawals. Such changes shall not be construed to be a default event.



The event of dissolution of the BTCST business and return of all owed funds to all account holders, also shall not be construed as a default event.



==BTCST==



BTCST is the business known as "Bitcoin Savings and Trust", currently being operated by pirateat40, with current web address of

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=B0PO

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-----BEGIN PGP SIGNED MESSAGE-----Hash: SHA1This contract is a contingent payout agreement between irc user known as pirateat40 (otc gpg key fingerprint 067508A49BBE0E8216A61A94614DB74CFA5B357E) and irc user known as vandroiy (otc gpg key fingerprint 5BD4BBB2FAABBB6877396A720380BA6269B31D08).otc user nanotube (otc gpg key fingerprint D8B11AAC59A873B0F38D475CE7F938BEC95594B2) will serve as escrow agent for the agreement, holding in his care the bitcoin contributions from both parties, until such a time as the contingency can be decided unambiguously.The contingency in question is to be the default of by pirateat40 (defined below) on BTCST obligations. In case default occurs, the funds held by nanotube will be disbursed to an address of vandroiy's choosing. In case default does not occur, the funds will be disbursed to an address of pirateat40's choice.pirateat40 and vandroiy shall each deposit with nanotube 5050 (five thousand and fifty) bitcoins, of which 50 (fifty) shall be a fee to nanotube, and 5000 (five thousand) shall go toward the contingent payout, for a total of 100 (one hundred) bitcoins fee to nanotube, and 10000 (ten thousand) bitcoins contingent payout.=Definitions===Pirate default==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.===Verification of default claims===nanotube will hold in his possession a data set containing hashed usernames and withdrawal addresses of all BTCST account holders, and will be supplied any differences in such table at regular intervals, in case of account closures or creations. A user making a claim must submit to nanotube his BTCST account username, and registered BTCST withdrawal address, as well as any supporting documentation as to the payments that were due but failed to be disbursed.===Unexpected contingencies===In the event of any unexpected contingencies not explicitly described in this contract, or any ambiguities, nanotube shall have final discretion in the determination of contract outcome.===Change in BTCST ToS===BTCST has the right to change the terms of its outstanding deposits at any time, as long as there is advance notice of at least 30 calendar days. Such changes may include changes in promised interest rates (as long as interest rates do not go below zero), changes in interest disbursement frequency (not to exceed 1 month intervals), interest tiers, forced withdrawals. Such changes shall not be construed to be a default event.The event of dissolution of the BTCST business and return of all owed funds to all account holders, also shall not be construed as a default event.==BTCST==BTCST is the business known as "Bitcoin Savings and Trust", currently being operated by pirateat40, with current web address of https://btcst.com/ -----BEGIN PGP SIGNATURE-----Version: GnuPG v2.0.17 (MingW32)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B0PO-----END PGP SIGNATURE----- GPUMAX - The Bitcoin Mining Marketplace | Bitcoin Savings & Trust | OTC Ratings