Psychology is a barbaric and corrupt practice
Hail Xenu!
Topic: The psychology of a con man - Zhou - page 4. (Read 6582 times)
Hail Xenu!
I'd like to believe that Zhou Tong is innocent. However, having someone who clearly believes in magic and posting in favour of Zhou is making this belief very difficult for me. Rarity, can you refract your support for Zhou, please? It does more harm than good.
We've all seen the evidence that Zhou Tong is guilty. Even he admitted the evidence was correct, because he tried to deflect it to a "mysterious friend".
That's a reasonable outline, someone posted a message from Tihan questioning whether the earnings Zhou reported when selling Bitcoinica were real.
I believe bitcoinica ran within its liquid means initially but as soon as they changed their service to include interest rates to encourage to actually leave BTC and USD on bitcoinica which would enable them to remain more liquid while pulling out more profit than they should.
At that point any bank run would crush bitcoinica and this is why I believe it all turned into one big scam before a bankrun could occur that would 100% confirm that liquidity of funds didnt actually exist and so would have marked Zhou Tong immediately as a scammer thus its much more convenient to have a bunch of failures to happen which would direct liquidity problems away from bitcoinica and only directed to so-called hacks occurring due to outragious security issues.
Basicly, they needed interest holders to keep BTC/USD on bitcoinica in order to fullfill their obligations to actual traders withdrawals.
At that point any bank run would crush bitcoinica and this is why I believe it all turned into one big scam before a bankrun could occur that would 100% confirm that liquidity of funds didnt actually exist and so would have marked Zhou Tong immediately as a scammer thus its much more convenient to have a bunch of failures to happen which would direct liquidity problems away from bitcoinica and only directed to so-called hacks occurring due to outragious security issues.
Basicly, they needed interest holders to keep BTC/USD on bitcoinica in order to fullfill their obligations to actual traders withdrawals.
Quote
It's almost like it's in a psychologist's business interest to promote the idea of an "elusive phantom" lurking around every corner, who people will be extremely fearful of because they sound so realistic.
Exactly this. Why trust someone who is just trying to make money off your fears and a false promise of feeling better when there are better, more real solutions out there?
If Zhou really did this that would make him a opportunist not a con.
(If we assume that bitcoinica was a genuine operation, which it was, for a time imo, since it was profitable and sound)
He claimed it was both profitable and sound. From the leaked memos, it seems the new operators never managed to make the levels of profits that Zhoutong claimed he was making.(If we assume that bitcoinica was a genuine operation, which it was, for a time imo, since it was profitable and sound)
Unrelatedly, the article makes a really good point here:
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The good news is that most con men get caught because they are so good at convincing people of mistruths that they con themselves into believing they won’t get caught. Over-confidence is what traps most of them. They over-reach their skills or underestimate the victim. They get sloppy or lazy, making bad assumptions after some successes. Conversely, they may become too ambitious, have too many “irons in the fire,” and trip themselves up. Some scams collapse under the weight of too many lies or are exposed when a third party identifies the pattern. Others crack wide open when a victim realizes that he’s been rooked and contacts authorities to complain.
They will probably give you a concrete answer.
Yeah I'm hoping for Tihan to answer: https://bitcointalksearch.org/topic/m.1056708
(If we assume that bitcoinica was a genuine operation, which it was, for a time imo, since it was profitable and sound)
How do you know?
I don't that is just my opinion.
I haven't checked out the math behind the concept myself at the time, I mean it could have been fallacious. I just consider it unlikely, but who knows...
I mainly follow the whole thing for dramatainment, not for the 9 BTC they owe me. Other people on the other hand don't they are genuinely concerned about it.
They will probably give you a concrete answer.
(If we assume that bitcoinica was a genuine operation, which it was, for a time imo, since it was profitable and sound)
How do you know?
I believe bitcoinica ran within its liquid means initially but as soon as they changed their service to include interest rates to encourage to actually leave BTC and USD on bitcoinica which would enable them to remain more liquid while pulling out more profit than they should.
At that point any bank run would crush bitcoinica and this is why I believe it all turned into one big scam before a bankrun could occur that would 100% confirm that liquidity of funds didnt actually exist and so would have marked Zhou Tong immediately as a scammer thus its much more convenient to have a bunch of failures to happen which would direct liquidity problems away from bitcoinica and only directed to so-called hacks occurring due to outragious security issues.
Basicly, they needed interest holders to keep BTC/USD on bitcoinica in order to fullfill their obligations to actual traders withdrawals.
At that point any bank run would crush bitcoinica and this is why I believe it all turned into one big scam before a bankrun could occur that would 100% confirm that liquidity of funds didnt actually exist and so would have marked Zhou Tong immediately as a scammer thus its much more convenient to have a bunch of failures to happen which would direct liquidity problems away from bitcoinica and only directed to so-called hacks occurring due to outragious security issues.
Basicly, they needed interest holders to keep BTC/USD on bitcoinica in order to fullfill their obligations to actual traders withdrawals.
If Zhou really did this that would make him a opportunist not a con.
(If we assume that bitcoinica was a genuine operation, which it was, for a time imo, since it was profitable and sound)
(If we assume that bitcoinica was a genuine operation, which it was, for a time imo, since it was profitable and sound)
Good point and I agree. I don't believe for a moment that he started his venture to steal people's money.
If it was him, I believe it was his damaged ego that set him into con motion when the Consultancy was included
in the operation.
If Zhou really did this that would make him a opportunist not a con.
(If we assume that bitcoinica was a genuine operation, which it was, for a time imo, since it was profitable and sound)
(If we assume that bitcoinica was a genuine operation, which it was, for a time imo, since it was profitable and sound)
I'm sorry folks around here were ripped off, but that is the inevitable result of the free market beliefs so many people around here believe in, not the fault of an honest man like Zhou tong. A well regulated market with the government looking over our shoulder to keep everybody in line is the only way to solve this scamming issue. Believing in an article about a phony, fraudulent science is just falling for one more scam.
Psychology is a barbaric and corrupt practice, that entire article is just a load of BS. Zhou is innocent, and is acting exactly like an innocent man should by doing everything he can to resolve this unfortunate issue.
http://goldengate.bbb.org/article/the-psychology-of-the-scam-34976
Great article.
Please Post portions that contradict with Zhou's personality/psychology.
Please Post portions that resonate with Zhou's personality/psychology.
Please try to exclude your bias and "give him the benefit of the doubt".
I post this because we can all benefit from understanding con psychology moving forward.
edit: fixed my poor grammar and changed to a more appropriate title.
Great article.
Please Post portions that contradict with Zhou's personality/psychology.
Please Post portions that resonate with Zhou's personality/psychology.
Please try to exclude your bias and "give him the benefit of the doubt".
I post this because we can all benefit from understanding con psychology moving forward.
edit: fixed my poor grammar and changed to a more appropriate title.
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