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There's been a number of hoaxes like this previously: http://compressionscams.blogspot.com/ http://compressionscams.blogspot.com/ - even down to "software demos

There's been a number of hoaxes like this previously: http://compressionscams.blogspot.com/ http://compressionscams.blogspot.com/ - even down to "software demos" that turned out to be various utilities downloaded from the Internet bolted together (http://www.c10n.info/archives/415 http://www.c10n.info/archives/415) What is it about scammers and impossibly high compression? Is it because it's easy to explain but hard to prove the concept to non-tech savvy investors, or is it just because they read about it having been done before and copy it verbatim? Guessing the latter, as there's other technologies (cryptography and semiconductor fabrication come to mind as easy to explain/hard to disprove) that could hoodwink unsophisticated investors.

lukeholder 15y ago
this guy is a penny stock trader and he called it a pump and dump scam: http://www.timothysykes.com/2011/11/how-a-penny-stock-promoter-used-55-million-to-create-a-400-million-pump-dump/ http://www.timothysykes.com/2011/11/how-a-penny-stock-promot...
- AJ007 15y ago
  This is an obvious case of fraud which the SEC should be investigating: http://www.smauthority.com/raystream/ http://www.smauthority.com/raystream/
  - skore 15y ago
    I've seen quite a number of such "Trader Advisor" Websites and have always wondered - how is their business model anything but a self fulfilling prophecy? I mean - you make a bet on a stock (or manufacture a stock to bet on), but tell an audience to follow your advice, thus increasing demand and drive up the price of the stock. Seriously - how is this not transparently fraud to people in the stock market? How is this not transparently fraud to everybody, actually? Or is it just praying on the hobbyist investors who are deluded into thinking "get rich quick" works for ordinary folks while the people "in the know" are delighted to have an army of zombies to commandeer? Would be great to hear if anybody has some insight into how fraudsters like this are prosecuted (or avoid prosecution).

lukeholder 15y ago

this guy is a penny stock trader and he called it a pump and dump scam: http://www.timothysykes.com/2011/11/how-a-penny-stock-promoter-used-55-million-to-create-a-400-million-pump-dump/ http://www.timothysykes.com/2011/11/how-a-penny-stock-promot...

AJ007 15y ago
This is an obvious case of fraud which the SEC should be investigating: http://www.smauthority.com/raystream/ http://www.smauthority.com/raystream/
- skore 15y ago
  I've seen quite a number of such "Trader Advisor" Websites and have always wondered - how is their business model anything but a self fulfilling prophecy? I mean - you make a bet on a stock (or manufacture a stock to bet on), but tell an audience to follow your advice, thus increasing demand and drive up the price of the stock. Seriously - how is this not transparently fraud to people in the stock market? How is this not transparently fraud to everybody, actually? Or is it just praying on the hobbyist investors who are deluded into thinking "get rich quick" works for ordinary folks while the people "in the know" are delighted to have an army of zombies to commandeer? Would be great to hear if anybody has some insight into how fraudsters like this are prosecuted (or avoid prosecution).