I don't understand what's going on here.
So far people are claiming this sequence of events:
1. TradeFortress posts thread in newbie section asking people to do something on ripple and that he will give them one ripple BTC.
2. TradeFortress does not mention that people who follow his instructions could lose BTC.
2. People follow TradeFortresses instructions
3. At least one person ends up losing *actual* BTC because of TradeFortress.
4. This is completely acceptable.
Is this correct?
Yes, this is the best explanation of this thing.
Actually he didn't promise to pay real bitcoins for the fake ones he gave inside Ripples, but he encouraged people to withdraw them to a gateway, knowingly that this implies someone else losing his reedemable BTCs. A sort of incitement to scam, made possible by his network.
No, he just gave people Ripple TradeFortress bitcoins - they have a market value independent of bitcoins based on demand. People can trade these coins and establish a value based on market forces.
Since the word 'bitcoin' is made up it can mean anything - the word 'bitcoin' has no legal status.
If I say I'll give you $20 which $ am I referring to? Australian? Canadian? or my own made up $ currency?
No it doesn't work in this way, 3 letter codes are different for real currencies, like USD for United States Dollar and AUD for Australian ones, if i remember well?
BTC means bitcoin inside Ripples, no matter from what gateway.
Btw, i appreciate very much this