What I learnt from pirate
About 7 years ago a lost a few thousand to 12dailypro which was a fantastic scam where everybody seemed to be making loads of money.
When BS&T first popped up everybody involved seemed to be making money and the payouts were always on time, this is exactly how it was with 12dailypro.
I was hesitant having lost money to a scam before, but I knew that money was there to be made if only you get out early enough.
I invested several thousand BTC into one of the pirate passthrough schemes on GLBSE. I also re-sold and bought as the price on GLBSE fluctuated.
In less than 2 months I had doubled my money. Since this was going so well I was tempted to put more Bitcoins in, after all there were all these other people that were running the pass through accounts, they had a lot more BTC than me and were making stupid amounts of coin. I was jealous and wanted to be like them, however that is exactly what I had done 7 years prior and decided that I should just settle with the small victory and take what I had already made and run.
A few weeks later pirate defaulted. Now I likely have more BTC than them.
Lesson learnt: Take the small guaranteed victories. Don't let greed dictate your actions.
Read the original: http://www.reddit.com/r/Bitcoin/comments/z0m17/what_i_learnt_from_pirate/