Quote from: tmbp on August 06, 2013, 07:24:40 PM

Quote from: spiral_mind on August 06, 2013, 06:53:53 PM

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Because you are claiming that he make a big mistake running fraud while in the US, but obviously that is no problem because he is not facing any legal consequences.

Please explain how he's immune to SEC regulation and Know your Customer regulation (money laundering regulations) while directly selling a virtual currency as an investment.

Dacoinminister's "Mastercoin" proposal is taking Bitcoin in exchange for what he calls an "investment" without any regulatory compliance. Here's precedent for that being illegal: http://www.pcworld.com/article/2045083/sec-charges-texas-man-with-running-bitcoin-ponzi-scheme.html

Dacoinminister's "Mastercoin" proposal is taking Bitcoins in exchange for a centrally issued virtual currency. Here's precedent for that being illegal: http://www.paritynews.com/2013/05/26/libertyreservecom-shuttered-founder-arrested-in-spain/

Please refute these points rather than assuming it's legal without any reasoning.

I have reviewed J.R. Willett from Seattle (aka dacoinminster) and read the Mastercoin specifications, honestly first it sounded like a good idea but reading further into the specifications it sounds completely dumb, subjective interpretations aside, I think I will list it under low chance to be a scam, the concept of the exodus address is rather sketchy.

There's nothing subjective about this interpretation. I'm relying entirely on facts. The economics show such a lack of thought that I find it hard to believe he's ever taken even a high school economics class. He asks for money now for a coin that doesn't even exist yet and cannot possibly become valuable due to its reliance upon centralization. Even if it hypothetically had value he would then be in violation of multiple money laundering and investment laws since he's backing the whole thing with his "real identity" based in the US. He controls the "exodus address". I advise you to look a bit harder at this one and move it to "high" chance of being a scam.