Buy some scammer delinquent debt why don't you!

Saturday, 21 April, Year 10 d.Tr. | Author: Mircea Popescu

Ever wondered what

mircea_popescu !!rate onefixt -1 bought pirate "debt" against protorepublican consensus at the time, went bankrupt for it. there's a lesson in there.

referenced ?

If you did, you're in luck : the noobs got me digging through archives, and since I was there anyway...

**** BEGIN LOGGING AT Wed Aug 29 04:03:30 2012

mircea_popescu o hey, pirate is in default he says.i
OneFixt i noticed that
OneFixt i don't know exactly what it means though

mircea_popescu well... that he won't be paying back, i would guess
mircea_popescu at least if irl defaults are anything to go by.
mircea_popescu so how much debt had you managed to buy out ?ii
OneFixt a good amount

mircea_popescu so i hear.
OneFixt i think he'll pay back at least partially

mircea_popescu because ?
OneFixt that's the only thing that makes sense

mircea_popescu for you.
* OneFixt shrugs
OneFixt we'll see soon enough

mircea_popescu makes no sense for him to pay partials.
OneFixt of course it does
OneFixt company goes into default and all assets are divided

mircea_popescu in practical terms : even if he pays 90% he's still going to count as a scammer to the people that want the extra 10%.
mircea_popescu it just doesn't make sense to pay. this is why bitcoinica never paid.
OneFixt bitcoinica is getting raped in court

mircea_popescu so ?
OneFixt pirate is trying to wind down with the help of lawyersiii
OneFixt so i think he'll be smarter about it and pay out properly

mircea_popescu this is a story.
mircea_popescu no different in its relation to reality than the other.
OneFixt so just wait, who cares?

mircea_popescu well, nobody really.
mircea_popescu personally, i'd rather not see you go off the deep end is all.
mircea_popescu fwiw
OneFixt which deep end? crazy?
OneFixt i'll survive

mircea_popescu good.
OneFixt thanks though =)

And so it goes.

  1. They were friends or close or something like that. []
  2. Because he announced publicly he would. []
  3. It takes a special sort of something to imagine "the help of lawyers" is the sort of construction that can be played straight.

    About the same sort of special as it takes for someone to attempt to buy out the "assets" of scammers. []

Category: Bitcoin
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