[SCAM ALERT] Free BTC Ripple Giveaway by TradeFortress

[ervalvola]

The Thread is https://bitcointalk.org/index.php?topic=206948.0

The trick exposed for newbyes:

- the OP ask you tu extend your trust to him through Ripple for at least 1 BTC (while he implicity suggest 100 in the pic. Succesfully strategy if you look ripple live-graph)

- this allows him to send you BTC's IOUs. Those IOUs he's not going to pay with real bitcoin if you send back to him.

If you trust him, say for 20 BTC, and you have reliable BTC IOUs (from bitstamp, for example) in the same wallet, THE SYSTEM CAN SWAP IOUS TRUSTED BY HIM WITH IOUS TRUSTED BY BITSTAMP if this is usefull to operate a transaction between users in that trust-subnetwork.

I.E. the story will probably end with someone previously holding good-true-reedemable BTC loosing all and finding in his wallet only trash-IOUs issued by TradeFortess.

This will happen if anyone in the network (not necessarily TradeFortess, but he could do that with an anonimous wallet) send the trash IOUS to a trusted gateway exploiting YOU to create a pathway.



I don't know if his intentions are good but the method itself isn't, EVIDENTLY. Also if he doesn't actually want to steal money from anyone (which i doubt), he's allowing others to steal someone's money, knowingly.


The thread should be closed and he deserves the SCAM tag.

Also self-moderated topics in the newbyes section are the perfect beware of scammers, shouldn't be allowed.

Support, please.

PS: sorry for my english, i hope this was understandable anyway ; )


EDIT: TO SAVE YOUR MONEY, PUT IMMEDIATELY TO ZERO THE TRUST TO HIS ADDRESS and SEND BACK THE EXACT AMOUNT TO THE SOURCE TO CLEAN UP YOUR WALLET

[BitcoinBoss]

Thanks for explaining how this could work as a scam. I won't be taking part. I'm unsure of intentions, but it seems unlikely that someone would just giveaway BTC, a few satoshi maybe but a whole BTC, I don't think so.

[ervalvola]

yes, was too expensive to be true

you're welcome, i'm glad that it is clear despite my orrible english

[dchapes]

Those taking TF's offer are basically giving the network* a blank 100 BTC cheque in exchange for a 1 BTC cheque that TF never really says if he'll ever honour. Since he's said repeated that he thinks IOUs in general are worthless ...

*the network of those holding TF's BTC IOUs

[MsCollec]

Good info

[ervalvola]

Those taking TF's offer are basically giving the network* a blank 100 BTC cheque in exchange for a 1 BTC cheque that TF never really says if he'll ever honour. Since he's said repeated that he thinks IOUs in general are worthless ...

*the network of those holding TF's BTC IOUs

And those who have good BTC (from Bitstamp, Weexchange...) are giving a gift to that network

[ironcross360]

I've noticed that, But I still did it anyways lol, Just going to have to create another account and leave that ^1btc^ Sitting. But is he a scammer? No.

[MsCollec]

Thanks

[strinkle]

Thank you for the explanation, ervalvola.

But it has been a good demonstration by TradeFortress. Having that useless 1 BTC in my own Ripple wallet balance that I can't spend is far more convincing than a post containing an image of someone else's wallet.

[ervalvola]

Good info

MsCollec, if you're trying to exploit the system (as i see you have just put your address here) i warn you that there is nothing left for you there.

But is he a scammer? No.

Why? If you expect a scammer to explain you what he's going to do, you're a scammed yourself

Incomplete info, misleading arguments that leads people to lose real money.

And he could just use an anonymous wallet to steal money himself.

[ironcross360]

Tradefortress hates Ripples.

Thank you for the explanation, ervalvola.

But it has been a good demonstration by TradeFortress. Having that useless 1 BTC in my own Ripple wallet balance that I can't spend is far more convincing than a post containing an image of someone else's wallet.

[ironcross360]

?? Well, Lower your trust limit then? I think hes just trying to find a way to defeat ripples?

Good info

MsCollec, if you're trying to exploit the system (as i see you have just put your address here) i warn you that there is nothing left for you there.

But is he a scammer? No.

Why? If you expect a scammer to explain you what he's going to do, you're a scammed yourself

Incomplete info, misleading arguments that leads people to lose real money.

And he could just use an anonymous wallet to steal money himself.

[ervalvola]

Thank you for the explanation, ervalvola.

But it has been a good demonstration by TradeFortress. Having that useless 1 BTC in my own Ripple wallet balance that I can't spend is far more convincing than a post containing an image of someone else's wallet.

you're welcome, i'm glad to help.

By the way, i think that a demonstration whithout the risk of loosing 100 BTC for someone would have been much much much better


EDIT: it was a SMART demonstration (besides it is quite simple if you're used to ripple); that doesn't means it is good...

[Birdy]

I don't think he is a scammer, he hates ripple and wants to prove that the system is awful.
Although I have to say that this anti-ripple action does make me feel a bit uneasy, because I have quite some coins trusted to TF.

[ervalvola]

?? Well, Lower your trust limit then? I think hes just trying to find a way to defeat ripples?

Trust only people who you can REALLY trust. When you trust someone, you're trusting people him trusts too... it is a chain.

Trusting only established gateways is better, expecially untill the software is in beta and so many aspects still have to be investigated...

[dchapes]

I've noticed that, But I still did it anyways lol, Just going to have to create another account and leave that ^1btc^ Sitting.

You don't have to leave anything. Just reset the trust line to zero since he clearly deserves zero trust in Ripple. That's all that is needed to keep BTC from TF screwing with your other BTC.

You can either keep the (near) useless BTC IOU or if you'd prefer to clear it out (since Ripple will only let you use/send it to others that have mistakenly trusted TF) you can just send the exact amount back to the source account after having zero'd the trust. BTW, that's what is required to lower your XRP reserves from the trust line; the reserves are only released when the trust is set to zero and the balance is <= 0.

[ironcross360]

thats what im saying

I've noticed that, But I still did it anyways lol, Just going to have to create another account and leave that ^1btc^ Sitting.

You don't have to leave anything. Just reset the trust line to zero since he clearly deserves zero trust in Ripple. That's all that is needed to keep BTC from TF screwing with your other BTC.

You can either keep the (near) useless BTC IOU or if you'd prefer to clear it out (since Ripple will only let you use/send it to others that have mistakenly trusted TF) you can just send the exact amount back to the source account after having zero'd the trust. BTW, that's what is required to lower your XRP reserves from the trust line; the reserves are only released when the trust is set to zero and the balance is <= 0.

[🏰 TradeFortress 🏰]

This is the point of the social experiment.

But it has been a good demonstration by TradeFortress. Having that useless 1 BTC in my own Ripple wallet balance that I can't spend is far more convincing than a post containing an image of someone else's wallet.

[ervalvola]

thats what im saying

yes, sorry ironcross, i misunderstood; and thx to dchapes for the argument, i updated the first post.


But seriously, moderators should do something, people risks to lose money there.

[pekv2]

thats what im saying

I've noticed that, But I still did it anyways lol, Just going to have to create another account and leave that ^1btc^ Sitting.

You don't have to leave anything. Just reset the trust line to zero since he clearly deserves zero trust in Ripple. That's all that is needed to keep BTC from TF screwing with your other BTC.

You can either keep the (near) useless BTC IOU or if you'd prefer to clear it out (since Ripple will only let you use/send it to others that have mistakenly trusted TF) you can just send the exact amount back to the source account after having zero'd the trust. BTW, that's what is required to lower your XRP reserves from the trust line; the reserves are only released when the trust is set to zero and the balance is <= 0.

ironcross360 such a fucking spam poster. I've reported you to admins im tired of seeing your stupid ass posts all over this forum.

I iggied the person, the moment i seen what it says under his avatar. Pedophile. And the person should be banned.