Is TradeFortress breaking the law?

[Viceroy]

1) He *allegedly* runs an illegal bank like entity (allowing certificates of deposit) at his hidden domain "Coinlenders".

2) He has no idea how to protect customers and is likely using his websites to *allegedly* steal passwords:
https://bitcointalk.org/index.php?topic=254776.0

3) He *allegedly* owns, operates and promotes the idea that "ripple is a scam":
https://bitcointalk.org/index.php?topic=196813.0
https://bitcointalk.org/index.php?topic=212730.0

Ripple is a coin funded by Google Ventures, and Google is not a criminal actor:
http://gigaom.com/2013/05/14/google-ventures-invests-in-opencoin-the-firm-behind-bitcoin-exchange-ripple/

4) He offers a free "mixing service" to money launderers and to, allegedly, wash his own ill gotten gains.

Scam accusations:
https://bitcointalk.org/index.php?topic=151880




This forum is a joke when default trust is given to suspected criminals like TradeFortress.
(Trust: 2: -1 / +82(82) )

Help me build a new forum here: https://bitcointalk.org/index.php?topic=244678.0

[1714277292]

1714277292

[1714277292]

1714277292

[1714277292]

1714277292

[1714277292]

1714277292

[1714277292]

1714277292

[scotaloo]

I have evidence that TradeFortress uses the ID's he collects from coinlenders for himself to cover up his own identity, he even disclosed this to Radnom on IRC.

He also gave one persons ID to DiamondCardz. I have been in contact with the person who has had their ID stolen.

He is an identity thief, he makes huge effort to cover up his identity, he is completely anonymous and can run away with everyone's BTC at anytime..

I know I have negative trust and all, but if you read the thread against me you'll understand why we know this, this is not a lie.

[Viceroy]

I was shocked to see that searching google for "opencoin, inc" offers ripplescam.org as a top result.

Somebody should contact "Opencoin, Inc" and let them know that TradeFortress is the source of ripplescam.org.  I bet Opencoins partner Google cares about his libeling their new multi million dollar investment venture.  Anybody wanting to do so should contact the company here:  https://ripple.com/contact/  (They probably don't know he is the source of the site).


Further anyone who has used any service TradeFortress offers who has later noticed one or more hacked accounts needs to contact this organization immediately:  https://www.ic3.gov/default.aspx


Down with Criminals up with LAW!

[/dev/null]

So he's against centralized payment system but own's a centralized bank and a online wallet.

Great.

[Deepweb]

He is running coinlenders and that inputs.io wallet anonymously?

He WILL scam everyone, question is just when, since it looks very well prepared he might wait untill his balance is at around a million or more.

[ShadowOfHarbringer]

3) He owns, operates and promotes the idea that "ripple is a scam":
https://bitcointalk.org/index.php?topic=196813.0
https://bitcointalk.org/index.php?topic=212730.0

What does this have to do with anything ?
Ripple is a scam anyway (unless they stop lying and prove otherwise), the evidence is everywhere, whether TradeFortress is a criminal or not.

[gmaxwell]

The substance of your complaint appears to be a  password allegation which was incorrect and misleading and explained as such in the very thread you link to...

And the fact that he's opposed to Ripple.

Okay. Well I think that Ripple is a risky system, which is deceptively marketed, created and constructed in a way which can be reasonably expected to generate finical losses for its users and wealth transference to it operator. As it is currently stands it is a centralized system and on the basis of the system as described in public I have serious concerns that it is technically viable as a decentralized system. The centralization creates substantial regulatory and plain-boring security risks, and more simply is inconsistent with how they've advertised it. The operators of ripple may freely adjust balances at will and may be required to do so by any coercive power with authority over them. The same is true of services like mtgox, but they aren't advertised as anything else— and presumably people have some idea what risks they are taking when they leave funds with a service. These centralization risks combined with the incorrect notion that ripple is something else may be creating an elevated extensional risk for Bitcoin: If ripple suffers a massive failure it may (unfairly) cast a shadow on Bitcoin.

Moreover, the ripple of today was created by purchasing the name of a prior system which the current system is largely unrelated to in order to exploit the positive reputation of the name, further creating confusion about what what ripple is and isn't.

So now that I've also expressed concerns (see also) about ripple will the pro-ripple troll and shill army now start spreading spurious scam accusations about me?

[Viceroy]

3) He owns, operates and promotes the idea that "ripple is a scam":
https://bitcointalk.org/index.php?topic=196813.0
https://bitcointalk.org/index.php?topic=212730.0

What does this have to do with anything ?
Ripple is a scam anyway (unless they stop lying and prove otherwise), the evidence is everywhere, whether TradeFortress is a criminal or not.

Ripple is closed source, not open, but that does not make them a scammer any more than Microsoft is a scammer for selling their software.

If ripple is a scam then google is a scammer.  Is google a scammer or is TradeFortress libeling them?  I vote for the later.  

This is not about Ripple, this thread is about:
TradeFortress

And no, the substance of MY complaint is he runs an "illegal" bank-like lending service.  The other positions are other peoples positions.  The early poll results are telling and obviously I have not voted:

Yes, absolutely he is a criminal   - 7 (58.3%)
Yes, absolutely he is a con man   - 0 (0%)
Yes, absolutely he is running an illegal bank   - 0 (0%)
No, why would you say that?   - 2 (16.7%)
I don't know   - 3 (25%)

Total Voters: 12

[Explodicle]

You should add an option for "No, and I see what you're trying to do."

[phantastisch]

I'm missing "If you don't ban Viceroy I'll just scream" as a vote option.

[Viceroy]

I only place those in important polls like the forum redesign thread in my sig, thanks.

[Bitcoinpro]

without more information this is going nowhere and your slandering him,

[Viceroy]

If you are going to use legal terms, try to use the correct term.  What you mean to say is that I am libeling TradeFortress.  Which I am not, because I writ the truth.

[Bitcoinpro]

If you are going to use legal terms, try to use the correct term.  What you mean to say is that I am libeling TradeFortress.  Which I am not, because I writ the truth.

i know if someone is scamming people it would be really bad though your still not allowed to accuse them of stealing passwords without proof, you specifically state that its just a suspicion

[Viceroy]

I added *allegedly* to the OP.  (fwiw. I'd love to see him come after me for libel, then I'd be able to identify him by name).

[Bitcoinpro]

what are these certificates you speak and do you have a website link for it

[Viceroy]

In American (and Europe?) this offering is illegal unless you are an actual bank.

"A certificate of deposit (CD) is a time deposit, a financial product commonly sold in the United States by banks, thrift institutions, and credit unions."  - http://en.wikipedia.org/wiki/Certificate_of_deposit


And here is TradeFortress, the non-bank, offering the same:


https://www.coinlenders.com/interest

CDs (Certificates of Deposits)
We also offer CDs, which are fixed term deposits. They mature at a certain date, and different terms carry different interest rates. Current CDs offered: (existing CDs will always be honored, of course)

Duration (days)   Min amount   APR   Yield
30   1 BTC   25.5%   1.01885
30   20 BTC   25.9%   1.01912
30   100 BTC   26.3%   1.0194
30   200 BTC   26.7%   1.01967
90   1 BTC   26.05%   1.05875
90   150 BTC   27.25%   1.06123
180   1 BTC   22%   1.10303

[Bitcoinpro]

if he is only dealing with BTC in these CD's its seems to be completely protected by the CCCB consitution and totally legitimate,

and due to the embryonic stage of crypto's it very high risk anyway, though i would say in time this kind of site would eventually be covered by the FDIC or similiar type of CCCB sponsored institution

[Viceroy]

Up until one second ago I'd never heard the term CCCB, but searching google for it I see it is something you authored:
https://bitcointalk.org/index.php?topic=170348.0

Not sure how this applies to TF. 

This is law:
http://www.sec.gov/investor/pubs/certific.htm

CD is a protected term, like "Bank".  You can't call yourself a "bank" or offer bank-like services if you are not a bank.


If you, or he, offer bank like services and you are not a bank you are asking for trouble with the American bank regulators and or the Department of Treasury. 

[ranlo]

What TF is offering is not illegal because it doesn't deal with money. What he's doing is no different than you borrowing a piece of paper from someone and returning two pieces the next day. You really think the person who accepts the two pieces is committing a crime because they are earning 100% interest/day or 36,500% interest a year on that piece of paper?

If he were dealing with cash, it would be different. As long as he's not, he is well within the lines of what is allowed.