Quote from: webr3 on May 20, 2013, 05:54:25 PM

Quote from: Rampion on May 20, 2013, 05:42:19 PM

Quote from: webr3 on May 20, 2013, 05:28:29 PM

Quote from: tysat on May 20, 2013, 05:23:27 PM

Quote from: webr3 on May 20, 2013, 05:20:40 PM

It is all REAL BTC.

No it's not, it's a BTC IOU. If it were real BTC you'd be able to spend it right away.

It is a promise to pay 1 BTC, is it not, a promise that is automatically and digitally made liquid the second you are trusted by anybody with a BTC IOU from a trusted source.

TradeFortress walked in to this with eyes wide open, hoping for exactly this result. It has happened, he has taken out 10.15 BTC worth of debt from a trusted source with me, which he now owes me. It's not my fault he's given it away.

More to the point, many other people could have been deceived out of up to 100 BTC each (and still could be), and 445+ people have been (potentially) let down by TradeFortress's as yet unfulfilled promises.

If this isn't a deceitful, foolish, untrustworthy, dirty thing to do, what is?

You are the fool for granting trust for 100BTC to an anonymous guy on the interwebz.

If he defaults, what are you gonna do? Nothing.

What TradeFortress has done is a brilliant example of what Ripple is. There will be a lot of scams going on in Ripple, lot of people will get burnt.

What TradeFortress has done is abuse peoples trust, by using his reputation as trusted here to con people out of BTC. It doesn't matter what system is used, it has been abused.

This is nothing to do with ripple, and show's no flaw in it. It simply shows that you should be careful who you trust, always.

TradeFortress has asked for trust, and promised people money. He has incurred debt. He has a 100 BTC overdraft with many members of this forum, and he's cashed out over 10 BTC so far. This is money he owes.

TradeFortress is either trustworthy, or is not. So far, it seems he's one of the shadiest people I've ever met on the internet. He has facilitated nothing but his own demise.

TradeFortress, make good your promises, repay your debts, contact the people who issued trust to you and ask them to revoke it. What you have tried to do here is low and foolish.

TradeFortress has done an excellent job.

You are a fool if you "trust" a guy because of his post count. You trust the blockchain and your Bitcoin private keys. You do not trust fractional reserve. You do not trust IOU's. You trust MONEY, not DEBT.

End of the lesson.

EDIT: you should be actually happy of this. Yours is an excellent example of what will come. You will pass to history to be the very first user to be left holding the bag inside Ripple. And I can guarantee that there will be A LOT of gullible people that will be left holding the bag inside Ripple, including a lot of XRP holders.