Topic: Is TradeFortress breaking the law? (Read 11065 times)

The early votes are listed in the thread.  I wish people had taken the alarm more seriously.  TF smelled rotten from day one.

Voting now locked.

No, why would you say that?    - 72 (36.4%)

I wonder how the votes looked like in August.

sick read

so many big scams yet nobody really cares to go after the people behind them

I am embarrassed that I once liked you Phineas.  Why should this thread be locked?  Trade fortress stole 1.3 million dollars, just like I warned you all he would.  Unregistered sites like his are the perfect place to steal money.  I just wish others had listened to me BEFORE he stole their money.

Sad day for the community it was that chilly November day.

OP, lock this useless thread! 

You can have your life back now.

Whaaa?

Just finished reading the five pages, can I please for the love of GOD have my life back that was wasted reading his baseless whining???

Thanks in advance.

Quoted from post #50... It seems this is your way to AVOID questions others ask you that you cant win...

Just report him already and claim your governmental reward.

this thread is useless and just attempt to have some intention nothing else

bringing up this thread again is pretty funny makes me laugh every time 

Looks to be selling the banking software on the website,  it wasn't an illegal unregulated bank unless converting to US currency.

Looks like TF is attempting to evade regulators by pretending his site is only in Demo mode and he is not actually banking.  Of course the regulators will see right through this since he is running an illegal, unregulated, bank.

Why he should be a criminal he is a good guy.

Legal grey areas aside.   He is obviously running it as an anonymous entity.   Anyone sending financial and identity documents to ANY anonymous person on the internet is just asking for trouble.  I'm not saying he is doing anything with them.  But why take the risk.   

 This is an easy fix.  I get along with TF.  Used to shoot the shit with him often on BTC-E. He's younger by far then me.  But is pretty brilliant when it comes to development. Now to be honest I don't trust anyone with my ID  I don't use PayPal anymore because I refuse to provide scanned ID. 

Also stealing passwords and such.  Yeah what's the common sence thing to do in that case.  Don't even remotely make that password even close to those that lock up what's important.

As far as ripple is concerned.. I don't support the idea that google is 100% legit.  For christ sakes they built G+ just to data mine.  They are on record saying that they really don't care if you use it or even keep it.  They have what they need.  They restrict you from commenting on other elements of googles service sphere. IE: try to make a comment on google play w/o a G+ account.  It isn't happening.

Inputs feels like ripple.  I figured that's what he's eventually going for.  I believe the source is available for it.  That was one of his major fights.  Next to the IOU exploit.

Bottom line it isn't mandatory to use his service.

Sorry if it felt like I was picking on you, I just have a beef with personal attacks on people.

I feel there is a terrible two faced-ness about many people on this forum. On the one hand, there is a huge fight against regulation of any kind. On the other, you get problems or complaints genuine scammers, with Avalon delays and screw ups, Mt Gox issues or hacks, your problem with TradeFortress' offerings, and so on. People talk about going to court, or reporting problems to various authorities.

Either it is the wild west or it isn't. Either you take regulation with its good and bad points or you don't. Not all regulation is about evil governments, much of it is to protect you, the consumer.

BTW I'm not in any way defending the lengths people must go to comply or the horrendous costs in some cases (US state money transmitter licenses anyone?).

The truth is that almost the entire Bitcoin ecosystem has been operating like the Wild West and the results of this are coming to the fore. The amounts involved are now too big to ignore, the problems too significant when bad things happen.

However, we all know that the Bitcoin world couldn't have got this far by playing the same game as big banks and the SEC and dealing with AML from day 1 and so on.

The dirty truth is that most people on this forum have used a Bitcoin services which is legally grey or worse, and they take that risk because they believe in Bitcoin or they want to improve their Bitcoin holdings. It doesn't make what they did illegal, I'm just making the point.

Because:


You make good points, there are many many sites I should call out.

Minor point, but the question isn't "are bitcoin gambling sites illegal" but whether any are fully compliant with gambling legislation across relevant territories. There is nothing inherently illegal about running a gambling site which accepts or pays out in Bitcoin AFAIK.

Also, with relevance to legalities generally, Marco Santori has a two part series on CoinDesk:

http://www.coindesk.com/bitcoin-law-what-us-businesses-need-to-know/

BTW I also expect that TF's loan service is illegal. In fact, I can't see how it isn't, although it depends where he is based and of course he could have the licenses... but probably not. Like most Bitcoin financial services, invest at your own risk.

BTCT is in the same boat IMHO. UKYO argues that Bitfunder isn't but at best they are in a very grey area and are playing a clever game (particularly by being based in a well selected location apparently). Several funds are in very dubious positions.

Mt Gox got caught out, other exchanges are going through all their own issues.

Selling your own Bitcoins is possibly illegal in the US.

Etc etc etc.

My point comes back to why this picking on TradeFortress? If he is scamming, evidence evidence evidence!