Bitcoin Savings & Trust
Bitcoin Savings & Trust (abbreviated as BST) was a ponzi scheme operated by Trendon Shavers (then known as Pirate). It was launched in November 2011 as First Pirate Savings & Trust. Pirate claimed to have been selling bitcoins to some local tight-lipped buyers,[1] and that he started BST to provide more volume to these buyers.[2] By selling invested bitcoins at a high rate and rebuying them at the market price, Pirate was supposedly able to offer a very high-yield interest rate of 7% per week.[1][2]
References
- ↑ 1.0 1.1 Pirate's original post as archived by Vitalik Buterin
- ↑ 2.0 2.1 Buterin, Vitalik (30 August 2012). "The Pirate Saga: And So It Ends". Bitcoin Magazine. http://bitcoinmagazine.net/the-pirate-saga-and-so-it-ends/. Retrieved 1 September 2012.
