Two Executives of Bitcoin Businesses Are Arrested
 

In other Bitcoin news...

http://graphics8.nytimes.com/images/...magArticle.jpg

:stoned

ADG

1 down , few more to go :2 cents:

2 down, few more to go

All your bitcoins belongs to US....A ;)

http://www.2020magazine.ca/_uploads/.../4x7zbs5n0.jpg

Seems like these Bitcoin people turn on each other fast once the heat is on. :warning

:stoned

ADG

Holy Jesus!!!

WOW. That's a big story.

so :2 cents:

I am sure they'll treat it like this case: http://www.bloomberg.com/news/2013-0...ng-accord.html

Light finger wagging, % of illicit profits paid as a fine, nobody goes to jail.

Those accusations are quite serious. If they participated in money laundering, it's certainly looking grim for them.

In the meantime, buyer's market! :thumbsup

That dude is fucked

D'oh!

http://i2.cdn.turner.com/money/dam/a...1013-614xa.png

Goodness gracious! It seems as if some of the original pushers of bitcoins are enriching themselves at the expense of the public!

First of all there is no such thing as an "Executive of Bitcoin" Anyone can start a Bitcoin exchange and break the law, or follow the law - just like a trader in any other investment vehicle.

You people don't know anything about Bitcoin if you think there is anything the US Gov can do to stop it.

Price hasn't dropped at all since the news broke

lol is this from months ago?

https://i.chzbgr.com/maxW500/4880030464/hC85DB5B5/

Read the entire sentence, "Executives of Bitcoin Businesses". :1orglaugh

As for the innocence/guilt of the two prominent people arrested today, I guess they will be able to argue their case in front of a judge:

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:stoned

ADG

Anyone wants to buy bitpassporte.com ;)

keeps $950-$1000 still

http://bitcoinity.org/markets/image?span=7d&size=medium

I don't think it has anything with bitcoins itself !

ADG do you actually know anything about Bitcoin? Why are you laughing? (above) - for people who understand BTC it's very obvious that your laugh of smug self satisfaction is actually just ignorance.

I could be an "Executive of Bitcoin Business" in less time than it takes to wash a car. Do you understand that these guys have nothing to do with the actual Bitcoin System? They are just guys like you or me who TRADE BTC (and exchange it into currencies).

People can use BTC legally - or use it to break the law - these guys are just USERS of BTC - if there is any impact (price drop) on BTC from these arrests it will only be if the exchange they are running goes down and they deal with enough volume to cause a disruption (probably won't cause a ripple) I sure hope this bust causes a crash - it will only be a BUY opportunity.

Now watch this: :1orglaugh

Thats a real laugh - one that comes from knowledge, laughing at ignorance.

Funny how people attacking bitcoin as if it was the problem. This arrest was based on 1 guys bad decisions. It's like if US dollar was being attacked because of Kenneth Lay and the Enron scandal LOL

Well said.

It's goes deeper - the press coverage of this is obviously slanted to fool people like ADG into thinking these guys are actually involved or in control of Bitcoin. The financial sector has a lot of status quo players who will jump on anything that may undermine confidence in cryptos.

BTC has a very precarious confidence curve still (that will go away eventually) - so anything even slightly threatening to the system will cause a crash in confidence (and price) - these guys getting arrest won't slow the train down one bit.

Exactly, if anything it just opens up the market to a better, more well managed exchange.

Every time an exchange or BTC business gets harassed, it lets those looking to get into the business know the type of things to avoid painting a bull's-eye on their forehead inadvertently.

You can keep saying "you don't understand BTC... so therefore,...." but that means absolutely nothing because you clearly don't understand the international banking system.

I understand international banking and commerce and anyone who has to do business globally, runs or has ran entities in multiple countries, has to deal in multiple currencies and moves a lot of money around, understands fully that no country is going to allow a fully anonymous currency enabling people to launder money, buy and sell illegal weapons, evade taxes, hire people to kill their wives, buy and sell illegal drugs and fund terrorism.

Countries are slowly clamping down on it and ultimately, it can at best, only exist outside the banking system and with no possibility of it being exchanged into hard currency, otherwise, anonymity will have to go. There are no other possible outcomes.

Thinking otherwise, is just beyond incredibly naive and wishful thinking... and outright delusional and something only someone who doesn't understand the controls and monitoring that goes on in banking and why those rules, laws and regulations and complete and total financial cooperation between nations, exist.

Additionally, you guys have no idea what it means for the US State Department to put any foreign bank on the list of money laundering institutions. They are effectively fucked, can get all their assets frozen in any cooperating nation, effectively cannot transact business in Dollars, other cooperating nations join in like the EU/GB etc and do the same and exert the same pressures. They don't remove the bank from that list until their own auditors have flown to their tiny little shit hole in Eastern Shittystan and inspect every record, every account holder and every single cent that is in the bank or that has moved through it. You can't hide in the banking world anymore. 9/11 changed everything. You can only "not get caught".

Exactly - funny how the nay sayers were jumping up and down when China put the brakes on how their citizens could legally buy or sell BTC - "China bans Bitcoin! Party's over!" "It's crashing!" haha yea right - China's new regs are the reason it hasn't dipped below 900 since.

wow I have heard a lot of blanket statements about the future of Bitcoin but this takes the cake. You're ALL IN Squealer...what are you going to do when your wild opinion never comes to fruition...don't hang yourself but no one will blame you if you do.

Who's delusional coming in here implying that Bitcoin exists anywhere BUT outside the banking system - "anonymity will have to go" that's full tard man - major exchanges that are regulated are not anonymous now (mtgox)... and you're totally overlooking that anyone anywhere can buy or sell person to person for cash (or pay though any other digital means (pay pal etc)...countries are "clamping down"? quite the opposite actually - regulations only help BTC not hurt.

http://media.vocativ.com/photos/2014...2852715214.jpg

Did you bother to check the background of the two individuals arrested? :1orglaugh

They were not simply some losers with a few bitcoins (like so many ignorant GFY bitcoin cheerleaders, and crypto-anarchist wannabes).

This is a big story whether you want it to be or not. I can't say whether it will directly impact the price of BTC today, however it appears certain to have an impact into the future as government investigations into Bitcoin widen and deepen.

:stoned

ADG

ADG your post just confirms that you have not the slightest grasp of what Bitcoin is "government investigations" into what...Bitcoin??? or Criminals - haha no there is no "investigation" into Bitcoin - but thats not surprising, in all my dealings with people - never have I talked to a nay sayer that has the slightest clue as to what Bitcoin actually is from a technical standpoint.

You should study a little before regurgitating some talking points that have been spoon fed to you from people with an agenda.

Right... transactions on MTGOX can't be anonymous and must adhere to US Government regulations because that is what is required to be legitimate and survive. Even then, there is still no guarantee of a future. No country has to allow Bitcoins or for any business to be done in Bitcoins... particularly if they aren't going to adhere to the insane amount of laws governing currency, banking, investments, taxes and so on. Ultimately, it will all have to be regulated or it will be destroyed. Not a tough concept to grasp. It will never survive as an "anonymous" currency.

And PayPal is hardly anonymous - seems you're just making shit up as you go.

That's not the point he's making and you know it. If the banking industry decide they don't want any banks dealing with Bitcoin exchanges then the price of Bitcoin will drop through the floor and it'll drive out the majority of the speculators that only have money invested due to it's incredible capital gain in such a short space of time.

The potential of Bitcoin as a technology is inexplicably linked and depends on the users ability to convert fiat to Bitcoin and vice versa.

Also TheSquealer hasn't made any "blanket statements" what he has done is make some excellent points, he's one of the few voices of reason in this thread!

Nailed it! :2 cents:

Crypto currencies are a direct threat to the consolidation of control the banking industry has managed to exert over us all, that control is only going to continue to increase.

HSBC are now imposing restrictions on large cash withdrawals

http://www.bbc.co.uk/news/business-25861717

You now have to provide them with proof before the bank decides if they want to give you your money.

They're all slowly starting to roll out these policies, next up monthly fees for personal accounts!

they sure do :1orglaugh:thumbsup

The radically invasive policy change of HSBC, accompanied by their absurd statement that they feel no need to even inform customers of it - is stomach turning big brother shit - I highly doubt they would have the balls to try this in any of their US branches.

Your posts are just as bad as the squealers with your predictions of what would or could happen to the price of BTC - telling a guy that he nailed it with uninformed crap doesn't make it any more true.

LooooL...this guy is a BIG IDIOT :1orglaugh:1orglaugh

Read the US, UK & EU anti money laundering regulations.

I gave HSBC as an example of where we're headed. You can "doubt" it all you like, it won't make it any less true. They're a powerful bank, they can do as they please.

Correct it is stomach churning and the western banking industry has gone to great length to implement these practices, we live in a climate where privacy is a thing of the past and that's why I doubt Bitcoins long term prospects. Even if they do regulate the shit out of it, it's still gonna be an utter pain in the ass for any bank involved with Bitcoin having to comply with governments AML & KYC regulations.

Bitcoin needs the banking system, the banking system doesn't need Bitcoin

I feel like I'm replying to Franck from 8 months ago, so I think I'm gonna stop posting in this thread.

I highly doubt these guys knew that the Bitcoins being purchased through there site was for buying illegal drugs!

So basically If I buy some coffee at 7-eleven and 7-eleven gives my money I used to buy the coffee to someone as change, the person who takes the change then uses it to buy illegal drugs I would be guilty of that persons illegal actions? On how many levels is that fucked up? That would never happen with US dollars but looks like the US government is trying to bully these guys!