Bitcoin start-up founder charged with money laundering !

[chispy]

Less than a year after raising $1.5 million for his Bitcoin exchange start-up BitInstant, CEO Charlie Shrem has been charged with money laundering. A news release from U.S. prosecutors in Manhattan said that Shrem knowingly facilitated illegal purchases on the now-shuttered underground drug marketplace Silk Road.
Full Story and Source - http://www.washingtonpost.com/blogs/...y-laundering/#

Does this mean the beginning to the end for crypto currency ?

[kuroikenshi]

pfft the market only fluctuated a couple of bucks.... so NO

[xsuperbgx]

The info I read on the guy makes him sound like a fine upstanding member of society....


Putting business people like this away is good for everyone, even crypto supporters.

[paulbagz]

End of Crypto rofl, u wot m8?

-PB

[tool_462]

Money laundering is money laundering. Whether you do it with profits from crypto currency, drug sales, investments, etc.

Maybe I'll meet this guy someday when I bring him breakfast through the food slot at work

[crash5s]

Less than a year after raising $1.5 million for his Bitcoin exchange start-up BitInstant, CEO Charlie Shrem has been charged with money laundering. A news release from U.S. prosecutors in Manhattan said that Shrem knowingly facilitated illegal purchases on the now-shuttered underground drug marketplace Silk Road.
Full Story and Source - http://www.washingtonpost.com/blogs/...y-laundering/#

Does this mean the beginning to the end for crypto currency ?

How can you end what never took off

Crypto is dumber than the tulip fiasco. It's just gullible idiots trying to get rich, but the only money is from other gullible idiots. There isn't any real value, the only point of it is to scam other morons into buying it from you.

The exact things that make this sort of idiotic investment interesting as a way to fleece idiots are what what make it pretty much worthless as a currency, volatility and no government/nation backing it up economically or militarily.

[Evantaur]

How can you end what never took off

Crypto is dumber than the tulip fiasco. It's just gullible idiots trying to get rich, but the only money is from other gullible idiots. There isn't any real value, the only point of it is to scam other morons into buying it from you.

The exact things that make this sort of idiotic investment interesting as a way to fleece idiots are what what make it pretty much worthless as a currency, volatility and no government/nation backing it up economically or militarily.

to be fair...the real money is just paper with imaginary value set by other people

[alpha0ne]

to be fair...the real money is just paper with imaginary value set by other people

Exactly !!!

[crash5s]

to be fair...the real money is just paper with imaginary value set by other people

Real money has value because it's backed by sovereign nations. Thus it's stable and not really speculative, which makes it very good for what we use it for.

Bull cryptocurrency that has no backing is only good for stealing money from other idiots you manage to con into investing in it. As a sham way to extract money from morons it's fine, but it's not good for anything else.

[Andrew LB]

This is what "big brother" does to anyone who who bucks the corrupt Federal Reserve. The FED has spent the last 5 years printing money to the tune of $80,000,000,000/month and feeding it into the stock market and wall street. It's the only reason why the stock market has performed like we've seen. Unfortunately, History has shown that you cannot print this kind of money which essentially devalues the dollar and ALWAYS results in inflation. I'm starting to think this is all intentional to sucker people into this soon to pop bubble and wipe out much of America's personal wealth

Think it's far fetched?

It's all part of a 50 year old plan to destroy this nation, much of which can be found in a rare book called "rules for radicals" by Saul Alinskey. s

[crash5s]

This is what "big brother" does to anyone who who bucks the corrupt Federal Reserve. The FED has spent the last 5 years printing money to the tune of $80,000,000,000/month and feeding it into the stock market and wall street. It's the only reason why the stock market has performed like we've seen. Unfortunately, History has shown that you cannot print this kind of money which essentially devalues the dollar and ALWAYS results in inflation. I'm starting to think this is all intentional to sucker people into this soon to pop bubble and wipe out much of America's personal wealth

Think it's far fetched?

It's all part of a 50 year old plan to destroy this nation, much of which can be found in a rare book called "rules for radicals" by Saul Alinskey. s

This is conspiratorial drivel that belongs to tin foil hat libertarians, you know Alex Jones and Rand Paul types.

[tiro_uspsss]

This is conspiratorial drivel that belongs to tin foil hat libertarians, you know Alex Jones and Rand Paul types.

yeah, a bit like those folk that said that the USA is spying on 'everyone & everything' blahblahblah, pre Edward Snowden days /sarcasm ... & then *BOOM* bombshell

[Sparky]

I've laundered money before. My wallet came out of the washer nice and clean, along with the $20 bill I had in there

[chispy]

This is getting serious , charges are real , me thinks the sh*t is about to hit the fan , Feds are going to shut down this illegal cryptocurrency stuff. Read here: http://buttcoin.org/bitinstant-crimi...int-highlights and here United States vs. Charles Shrem and Robert M. Faiella : http://www.scribd.com/doc/202555785/...bert-M-Faiella

[dstedman]

This is getting serious , charges are real , me thinks the sh*t is about to hit the fan , Feds are going to shut down this illegal cryptocurrency stuff. Read here: http://buttcoin.org/bitinstant-crimi...int-highlights and here United States vs. Charles Shrem and Robert M. Faiella : http://www.scribd.com/doc/202555785/...bert-M-Faiella

Um....no.

[kuroikenshi]

This is getting serious , charges are real , me thinks the sh*t is about to hit the fan , Feds are going to shut down this illegal cryptocurrency stuff. Read here: http://buttcoin.org/bitinstant-crimi...int-highlights and here United States vs. Charles Shrem and Robert M. Faiella : http://www.scribd.com/doc/202555785/...bert-M-Faiella

I dare say you're obviously taking out of your ass, no such thing will happen.

[snoid_zero]

This is getting serious , charges are real , me thinks the sh*t is about to hit the fan , Feds are going to shut down this illegal cryptocurrency stuff. Read here: http://buttcoin.org/bitinstant-crimi...int-highlights and here United States vs. Charles Shrem and Robert M. Faiella : http://www.scribd.com/doc/202555785/...bert-M-Faiella

Cryptocurrency is not illegal. It's on the person who use it.

Same with money. It's neutral, not good or bad.
It's the person who holds it that makes it good or bad.

[naokaji]

This is getting serious , charges are real , me thinks the sh*t is about to hit the fan , Feds are going to shut down this illegal cryptocurrency stuff.]

Back before money was invented people used all kinds of objects to trade with each other.
In other words: trading with things not regulated by a government predates the invention of both money and governments.

[i found nemo]

let's bring dowries back! just sayin..

[kuroikenshi]

Edward Snowden was just a figurehead, if you have done your homework...

I wont reference the forums where such information can be found, i leave that up to your own discretion

[n00b 0f l337]

This is what "big brother" does to anyone who who bucks the corrupt Federal Reserve. The FED has spent the last 5 years printing money to the tune of $80,000,000,000/month and feeding it into the stock market and wall street. It's the only reason why the stock market has performed like we've seen. Unfortunately, History has shown that you cannot print this kind of money which essentially devalues the dollar and ALWAYS results in inflation. I'm starting to think this is all intentional to sucker people into this soon to pop bubble and wipe out much of America's personal wealth

Think it's far fetched?

It's all part of a 50 year old plan to destroy this nation, much of which can be found in a rare book called "rules for radicals" by Saul Alinskey. s

New medication and tin foil hats for everyone!
Do you actually believe this? People get ahead thru work and being just a bit better at pulling money out of others than the next guy. There is very little in terms of "concerted group conspiracy"

[AbortRetryFail?]

Don't drop your soap, Chuck

[paulbagz]

The idea of a country "shutting down crypto" is as far fetched as someone shutting down the internet.

-PB

[BeepBeep2]

The idea of a country "shutting down crypto" is as far fetched as someone shutting down the internet.

-PB

China did it.

This is getting serious , charges are real , me thinks the sh*t is about to hit the fan , Feds are going to shut down this illegal cryptocurrency stuff. Read here: http://buttcoin.org/bitinstant-crimi...int-highlights and here United States vs. Charles Shrem and Robert M. Faiella : http://www.scribd.com/doc/202555785/...bert-M-Faiella

Here, read this:
http://www.coindesk.com/charlie-shre...w-enforcement/

What he did was illegal. It wasn't the cryptocurrency that made it illegal.
I've used my crypto to purchase goods and services from Overstock.com, several stores through Gyft.com, etc. , probably soon, TigerDirect.
I've paid for computer hardware (HD 7990) with bitcoins, from a PURE team member / XS user
It is a very convenient, secure, quick and easy way to make and accept payments...I send you 0.8 BTC for GPU, you get it in 1 minute...you can then go spend it anywhere that takes bitcoin as payment, and the list is growing...otherwise, go to exchange, get fiat if you want, but know that the IRS is watching!

No, I don't think this is the end of cryptocurrency. Will the government ask people to pay taxes on profits they may make? Yes. Will there be further regulation? Yes...in time...

[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)