So I watched some of Rekita's stream from last night where he "analyses" the Ribbitcoin fiasco.
1:20:20
https://youtu.be/cwTcucARTZ0?t=4821
I have some thoughts.
1. Rekita acknowledges that the campaign copy was "edited at a later date". What Nik doesn't acknowledge is that the edit was made only after Vikki's video began to collect large numbers of views and there was pressure to do something. (something that looks like a cover up)
2. Rekita acknowledges that the coins had a STICKER and not die graphics on them. This is important because it is the 2nd piece of falls promotional copy used to sell the product.
3. Rekita refers to Ethan reading the frauduelent ad copy on his show as an "ad read" as though Ethan was advertising for some other party but this is incorrect as he was reading for the campaign with his name on it that he clearly stood to profit from "inducement to sale" directly and proportionally.
He was not simply an ad reader since it was his name on the campaign and he stood to profit from inducement.
4. "Someone. Someone has licensed the CF property."
Who's that and why all the secrecy surrounding who Ethan is partnering with? How is this not cause for suspicion?
5. "The problem appears to be that they gave him bad copy to put in the description."
I disagree.
The problem APPEARS to be that Ethan and his alleged partner intentionally or unintentionally used false copy to induce buyers to purchase the product.
6. "Maybe he wrote the description himself and it's all just an elaborate hoax: I don't think so."
I don't think so either Nik. This was not elaborate. It was simple. In fact it's the kind of thing that is very difficult to screw up but it was in two different places lifting FALSE copy from two different sources that just happened to increase the desirability of the fraudulent product benefiting Ethan and his alleged partner.
7. 'The apology and refund mitigate the potential losses from a fraud.'
I agree. Ethan covered his ass like he'd consulted a lawyer and got good advice about reducing his risk profile.
8. "It's the language in here that should give us clues that there was no criminal act in the first place."
Here's the rub. The language used was by the person caught hocking product fraudulently. Of course it hints that there was no criminal act in the first place. He' worried about being charged with a felony. What wouldn't he say to make that go away.
Presuming that the party accused of criminal conduct is honest in his refutations is not how rational people deal with possible criminal behavior or every accused would simply make up a story and the prisons would be empty.
One must have proof to back up their refutations that is more weighty than the evidence to the contrary.
So is there proof?
Kinda?
10. "If they had read the New Jersey statute that they cited. There's an exemption for publishers and television shows that do an ad read."
I'm pretty sure such an exemption would not be possible if the person doing the ad read is also partnered directly with the "licensee" or is the vendor himself as indicated by Ethan's name as the proprietor of the campaign.
It's not an "ad read" when you're advertising your own product. It's false advertising.
11. "Long story short did Ethan commit fraud?
No?"
What?
Based on what?
The denial of the person suspected of fraud and the unverified "evidence" that it was some other party who Ethan refuses to name?
Accepting Ethan's receipts is predicated on believing that his receipts both unnamed and unattributed are legit.
Why would I believe that without verification?
I thought Rekita was better at this stuff.
To be fair I think Nik probably believes his friend and his biases are clouding his judgement here but for him to make a factual statement that Ethan 'did not commit fraud' based on Ethan's own unverified and unverifiable statements is just silly.
E: "I didn't do it."
N: "Good enough for me."