[2017-03-07] CoinIdol to Hold Public Trial of Scammers Who Stole $10 mln in Bitcoin

[nina.lyon]

Coinidol.com News Outlet invites every member of the crypto-community to join the jury in the case, where scammers have allegedly stolen about $10,000,000 and asks everyone to participate in an open vote - https://coinidol.com/coinidol-to-hold-p ... -scammers/

The story we want to tell you is about how Coinidol.com had to refuse to advertise the company of a suspicious client after our own study into their reliability. We found out that they have already stolen $10,000,000. By the time we had figured it out, they had already sent us $1,000.
We wanted to send that money back to Jawad Yaqub, but isn’t it odd to return stolen money to a thief who has taken that money from other people? However, we are not going to keep this money either. We don’t want stolen money. We believe that these funds should be sent to charity. But we want to set a precedent of market self-regulation without police to verify our decision with the votes of the community, just like we do to verify the block in the Bitcoin network. We want to act according to the decision of the crypto community.

George Gor, CEO and co-founder of Coinidol.com is explaining this public initiative with the words: "Can the whole crypto world set a precedent, when we force scammers, who have stolen up to $10 mln in Bitcoin to pay $1,000 to charity?”

We ask you to participate in an open vote! Read details and vote here: https://coinidol.com/coinidol-to-hold-p ... -scammers/

[andrzej.srankiewicz]

Nathan Wosnack, president of blockchain company Ubitquity, is removed from the jury.

Nathan Wosnack was one of the first who agreed to take part in this public trial as an honorary member of the jury. He told CoinIdol on the 9th of February 2017:

"Ok. You can count on me. You know me. I fight for honesty and honor in the bitcoin space. I always like how Coinidol is honest and brings community together."

https://coinidol.com/ubitquity-deleted- ... om-lawyer/

[mjglqw]

The story we want to tell you today is about how we had to refuse to advertise the company of a suspicious client after our own study into their reliability. We found out that they have already stolen $10,000,000. By the time we had figured it out, they had already sent us $1,000.

A bit weird. Why did they send back $1000 though. As a taunt, maybe?

[andrzej.srankiewicz]

Mike Lorrey: I know, who is Satoshi, and I replace Nathan Wosnack on the jury of CoinIdol

Coinidol.com presents you a new member of jury in the public trial of scammers - Mike Lorrey, a legendary person in the field of Bitcoin and Blockchain, who is the co-creator of the cryptocurrency, predecessor of Bitcoin. If you still haven’t met him on your way, you have to know about his ideas.

You can read his opinion here: https://coinidol.com/mike-lorrey-i-know-who-is-satoshi/

[andrzej.srankiewicz]

"This is setting a dangerous precedent. Imagine if everyone who is paid in bitcoins, for whatever product or service, is checking the source of the funds first and then, if he thinks they were earned through illegal activity, he holds the bitcoins and organizes a public trial. Do we really want bitcoin to be used like that? Bitcoin is about freedom (among many other things)! Freedom to get paid in bitcoins without having to check their origin. Freedom to pay in bitcoins without fear that a merchant (or whoever) will freeze your funds and put you on public trial if he (with or without a sound reason) suspects that your bitcoins might be “dirty”. Let’s use bitcoins freely and let the law enforcement do their job and catch the players who play dirty. It’s not on us to do their job! If we look at the bigger picture, it’s not only about choosing between a “scammer” and a charity, it’s about something much more important. It’s about defending the right to use bitcoins freely. It’s about preserving bitcoin’s fungibility. That’s why Mr. Jawad should get his money back (even if he is a scammer) and that’s why we should never have a trial like this again!
That is my opinion as a member of the jury." - Aleksandar Matanovic, co-Founder of Serbian Bitcoin Association

Full opinion here: https://coinidol.com/aleksandar-matanov ... e-bad-guy/

[andrzej.srankiewicz]

Stephen DeMeulenaere: “No need to create any form of constitution or system of self-regulation for crypto market”

CI: What do you think about the initiative of CoinIdol to give the right to vote about the problems to the crypto community?
SD: I think this initiative of CoinIdol is very risky because there are many other cryptocurrency scams out there that are going unpunished. I devote a section of my trainings on spotting scams, as I've had a few friends and colleagues fall victim to them, and as I live in a lower-income country, I don't like to see poor people having their savings taken away from them by scammers.
It's risky from a legal and reputation standpoint. One person's scam can be seen as legitimate by others. Look at the efforts by some to paint Ripple as a scam, whereas I see it as a cryptocurrency with a very different use case and structure than Bitcoin. So CoinIdol takes the risk in trying to act as a source of due diligence when this is what those people who may be investing in such a currency should be doing by themselves.

You can read his interview here: https://coinidol.com/stephen-demeulenae ... stitution/

[andrzej.srankiewicz]

The honorary member of the jury in the public trial of scammers, Ivan Tikhonov, a Blockchain Community board member and the founder of Bits.media, the biggest forum and news outlet about cryptocurrencies and Blockchain in Russia with 100,000 views per day, shares his opinion, on why CEO of Razormind, Jawad Yaqub, had no plans to do any real work.

You can read his opinion and take part in the discussion here: https://coinidol.com/ivan-tikhonov-i-co ... as-a-scam/

[andrzej.srankiewicz]

Eric Grill, Coinoutlet: " I think giving the $1000 to bitgivefoundation.org or unsung.org is the right thing to do and we should challenge Jawad to provide evidence contrary to what has been stated in the article or forfeit his claim to that money.“ https://coinidol.com/eric-grill-free-pr ... -watchdog/

Rupert Hacket, ADCCA Votes to Refund Money to Crypto Scammers. His interesting reasons can be found here: https://coinidol.com/australian-expert- ... -scammers/

Bas Wisselink, NXT "I do not believe that Coinidol should do other than their contract allows them, even if it means that a possible criminal gets his money back. They entered into a contract and if they want to get out of it, they should return the money to the other party. " . His full, detailed opinion here: https://coinidol.com/bas-wisselink-we-s ... -scammers/

Mike Lorrey, a comrade of Satoshi Nakamoto, a co-creator of BitGold : “The crypto community needs to implement a dispute resolution system in a blockchain to deal justice”

https://coinidol.com/mike-lorrey-disput ... l-justice/

[andrzej.srankiewicz]

CoinIdol has finished the public trial of scammer Jawad Yaqub. The decision of the trial jury and the crypto community activists: to send the money to charity.

The open vote started on the March 7th, 2017 with the article “CoinIdol to Hold Public Trial of Scammers Who Stole $10 mln in Bitcoin” and the question “Can we force scammers who have stolen up to $10 mln in Bitcoin to pay $1,000 to charity?”

You can read the full article here: https://coinidol.com/results-of-coinido ... o-charity/