CoinLenders Script :: Bitcoin Bank (Borrow+Deposit) Software :: Demo Available - page 60.

KingOfSports

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Acc bought - used solely for signature testing

Quote from: Lohoris on August 30, 2013, 12:17:59 PM

Quote from: kopipe on August 29, 2013, 06:51:52 PM

I hope TradeFortress realizes that all of this does nothing to deter regulators and just confuses his users instead.

Illegal activities are illegal, the wording you use doesn't matter. This is obviously still as much of an unregulated interest-bearing bank as it was before. Wink

He doesn't realise it, and that's why I called myself out.

This "wording" doesn't help you defend yourself against government agencies, but it might help you defend against your users, so it's even worse.

He might decide to go away with your money and you'd have an harder time getting it back, but if the government comes knocking at his door it won't care and confiscate anything anyway.

+1

Lohoris

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Bitgoblin

Quote from: kopipe on August 29, 2013, 06:51:52 PM

I hope TradeFortress realizes that all of this does nothing to deter regulators and just confuses his users instead.

Illegal activities are illegal, the wording you use doesn't matter. This is obviously still as much of an unregulated interest-bearing bank as it was before. Wink

He doesn't realise it, and that's why I called myself out.

This "wording" doesn't help you defend yourself against government agencies, but it might help you defend against your users, so it's even worse.

He might decide to go away with your money and you'd have an harder time getting it back, but if the government comes knocking at his door it won't care and confiscate anything anyway.

Franktank

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Quote from: 🏰 TradeFortress 🏰 on August 30, 2013, 03:02:55 AM

Quote from: Franktank on August 30, 2013, 12:29:16 AM

Quote from: monbux on August 29, 2013, 10:34:16 PM

I still don't get it, the people who have active CDs before this change, what has happened to their money?

It is currently in a "simulation" for a fixed time, after which the "demonstration" would then return the funds with the appropriate compensation for "participating" in the demo.

If that doesn't make sense, best not to participate. One can only give so many elbow nudges and winks.

The CoinLenders demo instance is for evaluation purposes only - there is no compensation for participating in the demo.

Ah sorry, my mistake. Didn't mean to mislead anyone.

🏰 TradeFortress 🏰

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👻

Quote from: Franktank on August 30, 2013, 12:29:16 AM

Quote from: monbux on August 29, 2013, 10:34:16 PM

I still don't get it, the people who have active CDs before this change, what has happened to their money?

It is currently in a "simulation" for a fixed time, after which the "demonstration" would then return the funds with the appropriate compensation for "participating" in the demo.

If that doesn't make sense, best not to participate. One can only give so many elbow nudges and winks.

The CoinLenders demo instance is for evaluation purposes only - there is no compensation for participating in the demo.

Franktank

hero member

Activity: 560

Merit: 500

Quote from: monbux on August 29, 2013, 10:34:16 PM

I still don't get it, the people who have active CDs before this change, what has happened to their money?

It is currently in a "simulation" for a fixed time, after which the "demonstration" would then return the funds with the appropriate compensation for "participating" in the demo.

If that doesn't make sense, best not to participate. One can only give so many elbow nudges and winks.

favdesu

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I hope my fictional playmoney is well and safe... Cheesy

monbux

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I still don't get it, the people who have active CDs before this change, what has happened to their money?

kopipe

full member

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I hope TradeFortress realizes that all of this does nothing to deter regulators and just confuses his users instead.

Illegal activities are illegal, the wording you use doesn't matter. This is obviously still as much of an unregulated interest-bearing bank as it was before. Wink

🏰 TradeFortress 🏰

vip

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👻

Quote from: Kluge on August 29, 2013, 05:35:49 PM

Oh.... I jumped to an assumption from the post in the other thread. You can safely disregard my email now, unless you don't want to...

Hmm, will let you know.

Quote from: halfawake on August 29, 2013, 05:29:32 PM

Since you shut down the other thread, I'm going to repeat my comment there here. I'd like my money from my CD back now, with interest through today. And none of this Inputs.io crap, just send it to the same bitcoin address that I used to fund my account.

Contact [email protected] from the same email as your CL account.

Kluge

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Oh.... I jumped to an assumption from the post in the other thread. You can safely disregard my email now, unless you don't want to...

halfawake

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Since you shut down the other thread, I'm going to repeat my comment there here. I'd like my money from my CD back now, with interest through today. And none of this Inputs.io crap, just send it to the same bitcoin address that I used to fund my account.

001sonkit

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Casper - A failed entrepenuer who looks like Zhou

Quote from: C10H15N on August 29, 2013, 03:26:55 PM

Demo site appears to be functioning very well. Nice work.

And now we have human functioning well

Nice
Guys had been over reacting in the past few hours
just a joke

C10H15N

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Demo site appears to be functioning very well. Nice work.

001sonkit

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Casper - A failed entrepenuer who looks like Zhou

Quote from: Caesium on August 29, 2013, 12:58:26 PM

If you say so. Let me be the first to say that if CL were to run into trouble most depositors would have their coins out as quick as their browser would let them, and they'd move it somewhere else with the next best returns, leaving TF to fight his own battles. Sorry.

Meanwhile most sites use similar disclaiminars. Unless they have time to travel all 48 states and get the license. Else other just wont survive as they all are on the same boat. And well you have option to switch to CoinSetter, they are trying to get to the regulatory way. But they are far from launching

Caesium

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Quote from: 001sonkit on August 29, 2013, 12:46:30 PM

Futhermore, it is the standard for the Bitcoin Community to have disclaimer on their service and it's so far so good.

Nobody's saying there shouldn't be a disclaimer, but CL's are starting to border on absurd.

Quote

In the worst case, if you were to fall, someone will be willing to give a helping hand as we all are on the same boat thus Bitcoin community have more power to defend ourselves back.

If you say so. Let me be the first to say that if CL were to run into trouble most depositors would have their coins out as quick as their browser would let them, and they'd move it somewhere else with the next best returns, leaving TF to fight his own battles. Sorry.

🏰 TradeFortress 🏰

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Quote from: GOB on August 29, 2013, 12:44:53 PM

Quote from: 🏰 TradeFortress 🏰 on August 29, 2013, 12:31:23 PM

Quote from: Caesium on August 29, 2013, 12:30:11 PM

however you want to word it makes no difference.

If "however you want to word it makes no difference" we would not have contracts, terms of conditions, etc.

I think what he means is for this type of "crime" they look past word games, not that no contracts or legal language are ever valid. For example, if someone were to buy a person, and I say "oh, it's not 'slavery', it's just a lifelong work contract", it won't fly, regardless of the words used.

That's not going to fly because the crime isn't about wording, the crime is about the action. Whereas an investment contract is about how something is worded and presented - there's already a precedent for this. Check my response in the other thread

001sonkit

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Casper - A failed entrepenuer who looks like Zhou

Quote from: GOB on August 29, 2013, 12:44:53 PM

Quote from: 🏰 TradeFortress 🏰 on August 29, 2013, 12:31:23 PM

Quote from: Caesium on August 29, 2013, 12:30:11 PM

however you want to word it makes no difference.

If "however you want to word it makes no difference" we would not have contracts, terms of conditions, etc.

I think what he means is for this type of "crime" they look past word games, not that no contracts or legal language are ever valid. For example, if someone were to buy a person, and I say "oh, it's not 'slavery', it's just a lifelong work contract", it won't fly, regardless of the words used.

It is better to get a shirt than get naked and off to the war zone, mate. In TF's case, there are grounds for arguement just incase any lawyers are getting bored and finding someone else to sue.

Futhermore, it is the standard for the Bitcoin Community to have disclaimer on their service and it's so far so good. In the worst case, if you were to fall, someone will be willing to give a helping hand as we all are on the same boat thus Bitcoin community have more power to defend ourselves back. And TF is the one who would like to follow the trend to get the service working safe and sound.

GOB

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Come on!

Quote from: 🏰 TradeFortress 🏰 on August 29, 2013, 12:31:23 PM

Quote from: Caesium on August 29, 2013, 12:30:11 PM

however you want to word it makes no difference.

If "however you want to word it makes no difference" we would not have contracts, terms of conditions, etc.

I think what he means is for this type of "crime" they look past word games, not that no contracts or legal language are ever valid. For example, if someone were to buy a person, and I say "oh, it's not 'slavery', it's just a lifelong work contract", it won't fly, regardless of the words used.

🏰 TradeFortress 🏰

vip

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Quote from: Caesium on August 29, 2013, 12:30:11 PM

TF, why not just comply with all relevant laws and legislations, instead of jumping through hoops that won't make any difference? Too much like hard work?

Each country (and state) has it's own regulations and legislations. The cost to be licensed worldwide is simply too prohibitive, it's not about "hard work" but rather "impossible for any Bitcoin business existing today". It's precisely what the regulation was designed for - to limit possible competition.

Quote

however you want to word it makes no difference.

If "however you want to word it makes no difference" we would not have contracts, terms of conditions, etc.

Caesium

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TF, why not just comply with all relevant laws and legislations, instead of jumping through hoops that won't make any difference? Too much like hard work?

At the end of the day, you're still taking deposits from the public which makes you a bank, however you want to word it makes no difference.

In my country (UK), this would subject you to the might of the FSA (good documentary on Channel 4 last year about this, 'Bank of Dave', an individual setup his own bank and had to become FSA approved just like every other big bank).

Topic: CoinLenders Script :: Bitcoin Bank (Borrow+Deposit) Software :: Demo Available - page 60. (Read 111205 times)