I don't understand what you mean by selling his debt.
I can understand how he could buy it at a discount, which would equate to a partial discount. But selling it? Selling what?
For the last several months, Pirate has likely been buying up Pirate debt. Why not? It's free for him. If he buys 1,000 BTC worth of Pirate debt, those 1,000 BTC just get deposited with him.I can understand how he could buy it at a discount, which would equate to a partial discount. But selling it? Selling what?
Now, Pirate debt is selling for around 50 cents on the dollar. Pirate knows that he's never going to pay his debt back. So he knows the debt is worthless. But he can sell that 1,000 BTC that he effectively paid nothing for and get an extra 500 BTC.
It makes *no* sense for him to buy Pirate debt. It costs him money. How would he get that money back? From himself?
But if he sells Pirate debt, he gets more of other people's money. And it perfectly explains why Pirate bought himself a week or two. This gives him lots of time to make more money by selling worthless debt.
If he IS planning on paying back lenders, buying back pirate debt with sock accounts would make sense.