Quote from: btcdrak on August 02, 2013, 08:17:50 AM

Quote from: 100x on August 02, 2013, 06:59:21 AM

Numerous people present detailed technical concerns, and the only response is "I am aware of the issues, I believe it will work". That and he deletes posts he doesn't like. Sigh

And given he's put in 1,222BTC himself, you have to wonder if some of the other payments aren't his also. I don't believe he's scamming, but I think he's now committed himself so deeply that even if it's clear he is wrong, he won't back out. Such is the power of the ego sadly. It does seem he's not got a deep understanding of market/finance fundamentals. The censorship is also worrying. If people are being offensive and swearing etc, that is different, but to censor people's posts because they don't agree is bordering evil.

I agree that I doubt he's outright scamming. I think he genuinely wants to make this work. He's gonna have to realize that when he go on a mass delete spree he will agitate people. His own money he's putting up is safe. There's virtually no risk for him to outright lose money and he expects the same return for his money.

I wish he had presented his ideas and gone back to the drawing board as opposed to launching it. He's even saying that he thinks he #1 reason this might not work is if someone puts something out before him. Someone pointed out that he went from v.0.7 to v.1.0 without much change in the paper.

It's very rushed because he's afraid he wont be first, and all other concerns are ignored or downplayed.