I don't really understand where the debate is. Because Nefario doesn't have the authority to honor his word means that he is 'all good'?
My understanding:
He acknowledged the shares were fake, but agreed to 'honor' them, making them real GLBSE stock
Goat then buys it, thinking that it will become real stock
Nefario cannot make it stock, because he assumed he had more power than he did. Obviously, he could have known he cannot just 'make more stock'
Now to clean it all up, the fake, but then real, but now fake again stock is being bought back for the initial IPO listing price?
However, at the same time, I feel that if it sounds too good to be true, it probably is. It would be like going to a car dealership and being offered a price that is too low. Being told You are paying $$$$, but the contract says $$$$$. Would the dealership be a 'scammer'?
It's more like: You go to a car dealership and the vendor, by mistake, offered you a price that was too low, let's say 10% of what it was really worth. Later, after seeing he made a mistake, he says he will honor the price. And you say: "Oh, yes? Then I'll buy 10!!!".
So, while he was trying to cover your "losses" out of good-will, you use that good-will to maximize your own profit at his expense.
