Blackmail accusation

[akwfleaspirit]

Fireball has made a blackmail accusation because I have said I will continue maintaining the edit on the Bitcoin Wiki until I get some of my money back. https://en.bitcoin.it/wiki/ICBIT

Some of the initial accusations are on the post here https://bitcointalk.org/index.php?topic=246845 Fireball has refused to address them so far. There are other accusations against icbit elsewhere. As Fireball does not respond to my other posts, I will give him another opportunity here.

The following is my discussion response on the Wiki. Please feel free to respond Fireball.

 Fireball, wanting money back that was taken through dishonest practices is not blackmail.

If you are comfortable with the practices you engage in on your website, why don't you address some of the accusations that have been made against you and your site?

1) Prices are blatantly manipulated through last clearing. The site encourages this, apparently because one or more site owners profit from it. A person expects prices to derive from movements in bitcoin, not overt manipulations. I have provided screenshots on the linked post below.

2) People running the site use their access to client financial information to conduct trades running positions against those clients.

For other observations refer to https://bitcointalk.org/index.php?topic=246845 which you have so far refused to even respond to.

If you want to defend your practices either here or on the forum Fireball, please do so.

No serious trader will stay on your site when they see the kinds of things you do. You are not running an honest financial exchange, you are running a scam built on keeping your clients in the dark about how you operate.

I have made and lost a lot of money on financial exchanges in the last 30+ years and I have never in my life made any sort of complaint against any exchange until yours.

[davidspitzer]

Blackmail is a crime that involves a threat with an intention to compel a person to do an act against his/her will or to take a person’s money or property.

Threatening legal action or publication of facts for the purpose of reclaiming one's own property or entitlement is not extortion (blackmail)

[akwfleaspirit]

Blackmail is a crime that involves a threat with an intention to compel a person to do an act against his/her will or to take a person’s money or property.

Threatening legal action or publication of facts for the purpose of reclaiming one's own property or entitlement is not extortion (blackmail)

Most of the people Fireball has conned have no idea that they have even been scammed. He preys on people who have no knowledge of financial terms or common practices.  All I'm doing is giving a little information that most people who have never traded derivatives might not know.

From volume charts it is clear his business has been steadily declining. People arrive at the site, lose money and leave, or if they are a bit crooked themselves they play along with the price manipulations and try to profit from the people who do not know what is going on.

As for the money, of course I will probably not get any of it back. He will close the site eventually and create a new user name and start a new business. But at least one other person did apparently expose his practices, then drop the matter in exchange for Fireball refunding some of the funds he scammed.

The real problem with exposing Fireball is that most people do not understand his scam and it is very difficult to explain. So blackmail, extortion, more nonsense words he throws out to try to trick people his way.