Quote from: dpb on April 04, 2014, 12:16:47 AM

Quote from: MonkeyBear68 on April 04, 2014, 12:08:11 AM

Quote from: pankkake on April 03, 2014, 11:49:35 PM

Quote from: MonkeyBear68 on April 03, 2014, 11:37:14 PM

Of course there is crap in traditional investments, but not to nearly the same percentage that there is in BTC Securities. I have dealt with plenty of both types of investments to know that most of the crap is in BTC Securities.

Yes because the "investors" here are morons with no experience.
For instance you often see refusal of financial reports because "IBM doesn't do that". Crazy, right?
Because instead of questioning the stuff that doesn't add up, they shill more because they think it's their interest.

And the bankers who sold the crappy investments still run free.

The Banksters definitely need to be held accountable. Perhaps as dpb suggests a privately run or sponsored citizens/investors coalition could be formed that we could all trust to do the basic vetting for us.

dpb I did not mean to suggest that a simple criminal background check was all that was required for due diligence. My example was meant to point out that it would be crazy to expect 1000's of investors for a fund to have to each carry out the same process of vetting the funds. If you think of securities in general there are probably thousands if not millions of funds, and thousands if not hundreds of thousands of investors in each one. Without a central place, either public or private, where vetting can occur it would make it very wasteful for all these people to individually exercise due diligence on each one.

A simple credit rating check is often a better indicator of character than a criminal check, but even then there is no simple answer as a good man can become bad.

Most Bitcoin users are not investors; they are average folks who got lucky and now have access to more wealth than they know how to manage. Handing your money over to a stranger doesn't make you an investor; it makes you an idiot. How do you think individuals make a living out of investing if any nobody could do it from home on his iPad?

You are correct. It still however leaves us with the problem of trying to establish trust. I do not think the threat of violence is the solution, or that violence should be the punishment. Unfortunately some people are evil and will try and scam or hurt others. We need some way to keep these people in order. Perhaps with the internet, and the Block Chain itself or a variant, a trust based system could be created. Those that do business with you could assign a rating or leave feedback. Those with low ratings or proven scammers would not get business. Still however people can go bad. How do we deal with punishment in situations such as those? Do they simply get a negative rating so that people will never deal with them again? Do they pay higher insurance rates somewhat for like bad drivers etc.

It is an interesting problem and we definitely a Block Chain based hashing solution could solve the issue of establishing trust levels.