Quote from: Shadow383 on August 25, 2012, 04:17:05 PM

Quote from: DeathAndTaxes on August 25, 2012, 03:48:59 PM

Quote from: crazy_rabbit on August 25, 2012, 08:23:53 AM

I would prefer if this didn't go off topic. Where are the updates?

There are no updates. TADA back on topic.

Well there is one update since yesterday:
The amount owed by Pirate to his creditors has increased by another 5,000 BTC!

If Pirates claim of 500K BTC is accurate that would mean he now owes ~540,000 BTC (minus the value of 11 unconfirmed "small accounts").
Also his interest only obligation is now ~$56,700 per day or $39.38 per minute. That means he needs to pay $56,7000 a day every day not to pay off the "investors", but to avoid the amount he owes from increasing.
Yes his debt in in BTC but I am using USD because maybe that makes it more "real". So say today he paid back $25,000. The amount he owed would still be increasing.

Even if you still believe he had a legit business which could afford $57,600 a day in interest, he shut it down a week ago. He nows owes about a half million USD more than when he shut it down.

And remember, it's "at least" 500k BTC Wink

ok so this keeps bothering me:

since the shut down, everyone has been monitoring this wallet over in Speculation: https://bitcointalk.org/index.php?topic=94675.0 looks to have acquired 500k+ btc after 2012 started, with a recent 100k shipment before the Gox market tanked from $14-> $7 -> $10

so it seems like he ended the BCST with ~ 500k hard BTC in a wallet. Now remember he paid a shit ton of interest, always depleting principal week after week - so that means he may have collected ~ 700k BTC and paid out ~200k BTC over time and is left with ~500k BTC.