411900+ entries in 0.143s
mircea_popescu: just, as you get burned, you'll see the presumption of guilt is the correct approach.
mircea_popescu: this is how people like kludge ended up burned. they felt like they knew.
mircea_popescu: btc has a learning curve even if it doesn't feel like it does.
mircea_popescu: but i think as you get burned you'll learn for yourself.
mircea_popescu: look. this is like a teenager declaring themselves a surgeon.
mircea_popescu: torbroker is a scam trying to abuse a legitimate model./
mircea_popescu: this torbroker thing takes your 10 btc, buys stocks for them which it holds.
mircea_popescu: well we can, but not when the facts are clearly on one side.
mircea_popescu: MJR__ torbroker has carefully avoiding making plain the fact that all customer positions are loans to it.
mircea_popescu: 're the periphery of btc, if indeed part of it at all. seems mostly accidental and well... who cares.
mircea_popescu: not in the wot. not known to actual btc businesspeople.
mircea_popescu: btc business that fails to fgollow btc rules => fraudulent operation aka scam.
mircea_popescu: point still remains. dollar business thart fails to follow dollar rules => criominal enterprise.
mircea_popescu: it's a dollars busines. if it fails to follow the dollar rules it will be a criminal operation.
mircea_popescu: MJR_ does this thing purport to be a bitcoin busienss ?
mircea_popescu: what do you mean at all ? they claim to be a btc business. they're not.
mircea_popescu: but in fact they do deceive, and it is to their benefit.
mircea_popescu: that it intends to harm or it merely intends to deceive is irrelevant.
mircea_popescu: tyes well. man's thoughts can not be on trial since the devil himself doesn't know what man thinks.
mircea_popescu: i distinguish too. it's not that they're not trustworthy. it's that they're fraudulent.
mircea_popescu: not a suspected ponzi, niot a possible ponzi, it is a ponzi i nfact.
mircea_popescu: invitation to invest, but neglects to share business plan ? it's a ponzi.
mircea_popescu: on what basis do you say that it "seems definitely not fraudulent" ?
mircea_popescu: we are merely trying to distinguish business from fraud here.
mircea_popescu: their busienss model is fine. their execution inept as all hell, but they have a model.
mircea_popescu: being the first to offer exchange services is not sustainable ?
mircea_popescu: they suck, sure. but thast's not what we're discussing.
mircea_popescu: so then what part of obvious you have tyrouible with :D
mircea_popescu: there are a lot of failures which can be readily identified by the fact they're not successes
mircea_popescu: this is not by design of the game of poker. this is because being bigger means you are better.
mircea_popescu: in any game of straight no limit poker the larger stash has better odds.
mircea_popescu: plenty of rules are in place to protect the stupid little guy.
mircea_popescu: which will be flagged in every sec insider trader investigation from now on.
mircea_popescu: is ghoing to be done just as wewll by a kid and his etrade acct.
mircea_popescu: so what is normally accomplished by a complex system opf people who make millions in fgees
mircea_popescu: so the huge counterparty risk they introduce is for the sake of sharing an etrade acct ?! whoa.