Quote from: repentance on August 18, 2012, 12:55:35 AM

Quote from: RaggedMonk on August 17, 2012, 07:17:11 PM

There are some big questions about how he is managing his money. People who saw ZIP or REBATE as good investments are going to bail regardless - a loan from a deadbeat is very different than a bond/equity in a growing business.

People shouldn't be putting money they can't afford to lose or to which they need short-term access into these ventures anyway, but the moment any question about how funds are being used arises people are going to become understandably reluctant to leave their money in the hands of the person whose actions are under scrutiny for another day/week/month/year.

There's nothing to stop those who are willing to wait for payment from voluntarily placing themselves at the back of the line, but there's also no reason why others shouldn't require more information about how funds have been spent to date and just how large the hole is before deciding whether they're prepared to wait for payment or not. Some people will let their investment ride on faith and others will want to recover what money they can and invest it in projects they consider more viable.

With increased use of crowd funding comes increased accountability. Investors aren't personal benefactors and that needs to be acknowledged by those seeking funding for their projects.

Just as a surveillance society with the ambition of making the world more open end up making a culture of secrecy, the bitcoin culture with its theme of anonymity will lead to a completely open society. In the future I don't expect many in the bitcoin world will be willing to invest or loan to anyone not willing to publically release personal information and remove any attempt to have limited liability.

In a few months there will be bitscalper part 3 so be prepared.