Quote from: miscreanity on July 30, 2012, 08:13:56 PM

Quote from: koin on July 30, 2012, 07:38:17 PM

Quote from: miscreanity on July 30, 2012, 10:21:26 AM

I'm more convinced that Pirate is running a legitimate outfit than I am that it's a scam.

"It is difficult to get a man to understand something, when his salary depends on his not understanding it." - Upton Sinclair

Good quote. I wouldn't be invested if I didn't see a way for it to be viable without being a scam.

Quote from: Micon on July 30, 2012, 07:57:52 PM

This is a good point that I did not think about late last night when asking to bet. I agree that if some1 thought the 7% would continue for 1.5 yrs, why would they flat-bet me $100 as opposed to investing? One-Eyed made the similar point.

It probably can't at current rates of return. That still doesn't mean it will implode and result in a loss of assets. What would've happened if Madoff had returned all deposited funds before his operation failed? Would it have still been considered a Ponzi? Would anyone have known?

Yes ,if madoff had decided to repay everyone before his arrest ,he would have been about 750 million dollars short so im thinking YES ,someone would have noticed Wink

te problem with a ponzi is the money isnt real and paying interest from the deposits is only going to work for so long before it bites you in the ass

and madoff only paid 12% a year ..........now look at pirate paying 3400% and its simple to see hes not going to run as long as madoff did