I don't see "a problem with the GB system". There is no "GB system", and certainly GH is not "liable" for anything. This is a forum. What I see is individuals deciding to give money to another individual on a promise of getting something back. It is completely up to the participants to do their homework and decide if they want to give money to that person or not. Whatever "system" there is in place, the only thing it will do is to provide more facts (hopefully) about the GB leader to make this decision a more informed one.
It would be nice if the GB leaders would provide some guarantees (e.g. not charging the whole amount up front, regular updates, etc...) but I do not understand why these should be "requirements". I, as a GB participant, would look at what does the GB leader offer as guarantees, and if they're not enough, I would not participate. This is *my* responsibility, and not a responsibility of anybody else, certainly not GH. "GH endorsing a GB" is in the end nothing else than another bunch of semi-random people saying things will be OK and presenting it as "a fact".
I think of it like giving money to a random person at a bus stop, who I've just had a half-an-hour conversation with, to go and buy me a sandwich. If there is some evidence that he's done this for my friend a week ago already, all the better. The more I know about the person, the better. In the end, it's a risk/value assessment on my side. There is always some risk, even if it wasn't a random person but my best friend since childhood.
Similarly, it is completely up to the individuals to decide whether/when to do a paypal chargeback and/or seek some legal means. Why does it have to be "endorsed" or "not endorsed" by the community? Ah, right, peer pressure.
Certainly there are reasons to try to pursue Ivan legally. But for me "just because I want to make his life hell" is not one of the reasons, and in my opinion it is not a good one. Eye for an eye? Wanting to get my money back - that would be a good reason for me.
We should instead try to scare people into not doing this sort of thing... Show them that if you decide to take this course of action Geekhack as a community will pursue legal action on you and make your life hell. Not show them that they can get away with it.
Yes, because an athmosphere of fear is the best way, and it solves all the problems.
With the posts in this thread, I am actually amazed anyone is willing to run any group buys at all. They can certainly expect random chargebacks (just like it happened to Bro) and various threats.
Finally - certainly it is safer to go with registered companies like MassDrop - but remember that MassDrop can also just declare bankruptcy and then you'll be lucky if you get pennies on a dollar back. That's one of the points of running a company - your personal assets are not liable for any loss that the company incurs. Is this likely to happen? I don't consider it too likely. But it could happen. Just like with Ivan, I didn't consider it too likely that he'd disappear.
Also, just because people have a web "storefront" (e.g. LeandreN, UKKeycaps, ...) this does not mean that they have a registered company, and that the situation is any different from a GB run through GeekHack. You're still giving money to a person on a promise that they deliver something, and have exactly the same official possibilities to get your money back (paypal chargeback, legal action) if something breaks down.
I personally will still participate in group buys if I'll be OK with the risk/value ratio.