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.comI 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?