What pirate said is pretty much what every other ponzi says when it collapses: funds tied up, you'll get them as money comes in. I seriously doubt people will be getting their money back. Expect more excuses about having trouble getting it back out of assets later this week.
+1 Pirate is full of shit as many others have indicated already.
Edit: If he had all the investors' bitcoins, which he said himself he doesn't, he could pay everyone back now...or start right now as opposed to waiting until Monday. He is only delaying...watch...If this were true, and it was a Ponzi, what reason would he have for no longer accepting deposits?
I'm not invested with him or trying to defend him, but what incentive would he have? To delay suspicion? Why would he need to do that?
Also, is anyone else wondering if the dump at $15 was him, and then he just bought back in at $11? He could have made himself a hefty bitcoin profit doing that.