Quote from: hgmichna on July 31, 2012, 11:35:48 AM

Quote from: Micon on July 31, 2012, 08:28:12 AM

this thing is in it's death throes. There comes is a point where weekly new investment + re-investment < interest actually paying out and the scammer realizes the scam is now costing, not making $. this thing is about as big as it can get in BTC land.

tick tock... tick tock...

I think that too. Were there any payouts today?

He will continue at least as long as new investors pay in more than he has to pay out. However, the extreme interest rate cuts both ways---it attracts stupid "investors", but it also makes his debt grow exponentially. Even if only a fraction of his "investors" want their interest or part of their interest paid out, that part is also growing exponentially, seen from a statistical point of view.

Another question is, will he continue even if his mountain of money shrinks, just to buy more time? He may need some time for money laundering, for planning his departure, for covering his tracks, etc. Even that cannot last long, but it could extend the time for another few weeks.

How about his promised appearance on DefCon? Since he cannot really appear there, for fear of being identified, that should also make his "investors" weary. My prediction was that he will make up an appearance or appear only in front of his collaborators. But the fact that he announced his appearance at all, well knowing that he cannot appear in front of his "investors", indicates that he did not intend to continue for long.

Of course he could try to repeat the appearance of Charles/Carlos Ponzi, who served drinks to his "investors" until he was taken away in handcuffs. But then why did pirateat40 choose to accept only bitcoins for his "investments"?

1) his thread is now locked. any BCST interest reporting threads?

2) I was at Rio for 3 days straight for defcon. I wore a BTC button in plain view in the middle of my shirt at all times. Played some poker, talked to some awesome humans there. regret not buying the badge for $200.