Congrats on the new board.
I think your most important first post quickly identifies the kernal of the problem. It's not the pinkies or the OTCbb scams that are the culprit. It's us. We choose to buy them, in the face of all the continued losses and failures. We choose to hold them in the face of repeated warnings that to do so will make you lose your money.
We know that greed/fear combinations are hugely powerful as motivators. The trader needs to get past that and become completey machine-like in his actions and assessments in order to stay in the game. We know this but chose to ignore this so we can remain entrenched in our fantasies about easy riches.
The fact is the game is rigged and unless we take profits mercilessly on the way up, and approach each play as a pure technician, then we are lost. The emotive side of the brain will take over.
If you look at the posts over the past four months on the SLJB board all of them hinged on the emotive side of the play. The moderators played on this skillfully. The posters never focussed on anything that was real or known. They preferred the denial that let them stay within the self-imposed greed/fear continuum.
We've all heard this stuff before a thousand times. The real question then is: why do we continue to choose the wrong path? It is this innate knowlege about the human condition that lets the scam artists and promoters continue to mount the attack.
There is not a single person on the SLJB board that deserves their money back. I do not deserve a cent on any of the losses I chose to take over the years.