who blindly trusts a guy openly named "PIRATE"
He already openly stated it was a con.
I'm looking to pull one bigger than mybitcoin.com. If figure, go big or go back to work. 
And..
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[2012-07-17 07:39:58] keverw, never trust a pirate.
"k everyone". IMO, his username and these statements shed light on his psychological rationale. That he's trying to teach people a lesson about "trust", so in the end he won't feel very guilty for making off with his booty.
The ones who deposited were either co-participants who hoped to time their withdrawals and take gains, or blinded by greed.