Whether TradeFortress is honest or not his shennanigans reveal Ripple is a tremendous security vulnerability for anyone who uses it, unless you use an utterly paranoid set of precautions that have yet to be worked out.
Bullshit, it's only when the participants do not understand the concept of trust. By that logic pirateat40 revealed a tremendous security vulnerability too.
Yes, but pirate didnt say, I am taking your money and not giving it back.
Tradefortress said that here is an IOU I WILL NOT HONOR.
Where??
https://bitcointalk.org/index.php?topic=206948.0He did not say that he would not honor it.
Maybe you are right but he did say:
"To expose and bring awareness to the
flaws in the Ripple payment system, I am giving away at least 1 BTC per address on Ripple."
While I agree anyone following what trade fortress was doing over the past few weeks would have got that they are not going to get any coin outside of a ripple IOU, I do see that someone jumping in the middle might have been misled.