Bitcoin start-up founder charged with money laundering !

[kuroikenshi]

China did it.

No they did not, all they did is enforce banks not to transact it or bank it.

There is a much bigger picture at stake, but that's a different story.

let me put this straight, NO ONE can block Cryptocurrency, if if countries can, SHOW ME HOW (not just your concept but an actual proven way to do it)

[BeepBeep2]

No they did not, all they did is enforce banks not to transact it or bank it.

There is a much bigger picture at stake, but that's a different story.

let me put this straight, NO ONE can block Cryptocurrency, if if countries can, SHOW ME HOW (not just your concept but an actual proven way to do it)

Internet. Parts of it, anyhow.
Not bitcoin, for people like us. I think you misunderstood my statement a little.

[naokaji]

let me put this straight, NO ONE can block Cryptocurrency, if if countries can, SHOW ME HOW (not just your concept but an actual proven way to do it)

They don't have to block it completely, but if they throw enough obstacles at bitcoin people will simply move on to a different alternative currency, until the government catches up again and the game of cat and mouse starts over again.

[kuroikenshi]

They don't have to block it completely, but if they throw enough obstacles at bitcoin people will simply move on to a different alternative currency, until the government catches up again and the game of cat and mouse starts over again.

China has an agenda, and crypto is not part of it.

[chispy]

Russia bans Bitcoins


" While you were probably distracted by the start of the Sochi Winter Olympics in the nation, the Russian Prosecutor General's office has quietly released a statement banning the Bitcoin digital

More , sources here : http://www.afterdawn.com/news/articl..._bans_bitcoins

[chispy]

" Bitcoin is under siege "

NEW YORK (CNNMoney)

Right now, Bitcoin is a hard sell for people who are accustomed to old-fashioned cash or credit.

The stateless, digital currency can't shake off the image that it's unstable, unproven and largely still an experiment. Recent news doesn't help. Last week, Russia's top prosecutor declared that Bitcoin and all anonymous payment systems are illegal. One of the largest Bitcoin exchanges in the world, Mt.Gox, prevented investors from pulling out their bitcoins, citing a technical glitch. Apple yanked the last remaining Bitcoin digital wallet from its app store. And earlier, a Bitcoin exchange CEO was arrested for money laundering.

" The price of bitcoins has since tumbled from above $900 to $618 as of Monday. That massive drop makes it a dangerous investment and difficult to use as a currency. " ...

More and source: http://money.cnn.com/2014/02/10/tech...oin/index.html

[kuroikenshi]

speculators love it though

[chispy]

Silk Road 2.0 'Hacked' Using Bitcoin Bug- All Funds Stolen

The same bug that has plagued several of the biggest players in the Bitcoin economy may have just bitten the Silk Road: On Thursday, one of the recently-reincarnated drug-selling black market site's administrators posted a long announcement to the Silk Road 2.0 forums admitting that the site had been hacked by one of its sellers, and its reserve of Bitcoins belonging to both the users and the site itself stolen. The admin, who goes by the name "Defcon," blamed the same “transaction malleability” bug in the Bitcoin protocol that led to several of the cryptocurrency's exchanges halting withdrawals in the previous week.

"I am sweating as I write this… I must utter words all too familiar to this scarred community: We have been hacked," Defcon wrote. "Our initial investigations indicate that a vendor exploited a recently discovered vulnerability in the Bitcoin protocol known as 'transaction malleability' to repeatedly withdraw coins from our system until it was completely empty."

Just how many bitcoins were stolen wasn't included in the post, although it listed a series of Bitcoin addresses that the Silk Road administrators believe to have been involved in the heist. Those transactions seem to point to a single Bitcoin address that contains 58,800 coins, worth more than $36.1 million at current exchange rates. But tracing Bitcoin's pseudonymous transactions is always tricky–other estimates range from 41,200 by a Silk Road user and 88,000 by the Bitcoin news site.

source:http://www.guru3d.com/news_story/sil...ds_stolen.html

[Evantaur]

[QUOTE=chispy;52259[/QUOTE]

reminds me of that Person of Interest episode a while back

[Sparky]

Zero sympathy towards those involved in black market drugs. None.

[BeepBeep2]

http://www.theverge.com/2014/2/18/54...-austin-launch

[i found nemo]

nice find beep! you should put your rig to work :p surely some of those vid card are survivors.

[M.Beier]

Zero sympathy towards those involved in black market drugs. None.

I'll 2nd that.

[BeepBeep2]

nice find beep! you should put your rig to work :p surely some of those vid card are survivors.

2x HD 6950 unlocked > 6970
2x HD 6970
2x HD 7950
1x HD 7970
1x HD 7990



I used to mine when bitcoin was $11, kept a little...lucky me I guess, cashed some out at $950.

Here's some more news:
http://www.coindesk.com/ebay-wallet-...iple-currency/

[chispy]

Update Tuesday 2/25/2014: " Prominent bitcoin exchange Mt. Gox posted an update on its website on Tuesday, saying a "decision was taken to close all transactions for the time being," citing "recent news reports and the potential repercussions on MtGox's operations."

The website went dark on Tuesday and its chief executive told Reuters that the business was "at a turning point." Mt. Gox halted withdrawals earlier this month after detecting what it called "unusual activity.

"We will be closely monitoring the situation and will react accordingly," the website said. "

Source - http://news.yahoo.com/bitcoin-exchan...1--sector.html

[chispy]

The real reason Bitcoin is doomed

It's the taxman, rather than any private institutional failures, that will relegate the cryptocurrency to niche status.

Yahoo Finance

Thu, Mar 13, 2014, 06:36AM PDT - Tax Center

The real reason Bitcoin is " doomed ".

It's the taxman, rather than any private institutional failures, that will relegate the cryptocurrency to niche status.

Fortune
By Christopher Matthews
22 hours FORTUNE -- It's been a busy couple of weeks for bitcoin enthusiasts, first as they dealt with the volatility brought on by the implosion of the world's largest bitcoin exchange, then as Newsweek fingered a 64-year-old California man named Satoshi Nakamoto as the creator of the virtual currency. But compared to the question of whether bitcoin will ever achieve levels of adoption anywhere near the scale of government-backed fiat currencies, these stories are mere trifles. Bitcoin's biggest obstacle to success has always been receiving the blessing of the very governments that many of its supporters view as enemies one through 100.

Some governments, like China, have taken steps to combat bitcoin's use. In December, Chinese officials banned financial institutions from dealing with bitcoin though individuals are free to own them. The United States has taken a more hands-off approach, but it is inevitable that the Treasury Department, and especially the IRS, will have to take an official stance on the currency, and its position will have huge implications for the success of bitcoin.

Tax attorney Lee Shepard argues convincingly in a recent article in Tax Notes that "Bitcoin is not a currency," despite the protestations of some supporters. According to Shepard: ... more and complete story, source: http://finance.yahoo.com/news/the-re...140437704.html

The Bubble seems closer to burst , once the US government and The European Bank Authority gets involved = Game Over. Let me go back a little on my analogy why cryptocurrency will fail. The big Superpowers of the world and Big countries are banning bitcoins , ( Fact -- Russia , China , South Korea , Norway , Thailand , Germany , Switzerland , Mexico , Cuba , " Most South America Countries " etc... The European Banking Authority ( The Central Bank Of The EU ) still looking to ban the cryptocurrency or to regulate it , exactly the same is happening in USA. My Rationale over the past Bitcoin exchange events and the collapse of Bitcoin incoming.

1. Volatile , Unstable Market. Non regulatory status eg. free for all anything goes without any laws or regulations.
2. Fraud , Scams , Hacks , Stealing. To name the latest ones , Mt.Gox Fraud and huge Scam we all know by now how this turned out.
3. Canadian police have launched an investigation after online bitcoin bank Flexcoin, which closed its virtual doors this week, said that it had lost about $600,000 worth of the digital currency in a hacker attack.
4.Singapore police probe 'unnatural' death of American CEO of bitcoin trader. Still under investigation.
5.Silk Road 2.0 'Hacked' Using Bitcoin Bug- All Funds Stolen
6.etc ... etc ...

Now the Die Hard Blind Fans of cryptocurrency will defend and make it sound like everything is OK , that the market will stabilize , that they cannot touch my wallet , blahh blahhh blahh inflamatory statements wish at this point in time don't make sense , wake up and Time for reality check !

[paulbagz]

^^ lol'd

-PB