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Question: Is BFL using BitPay for money laundering purposes good for advancing Bitcoin?
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Author Topic: Is BFL using BitPay for money laundering purposes good for advancing Bitcoin?  (Read 3708 times)
Gleb Gamow (OP)
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December 22, 2014, 08:09:03 AM
 #41
Quote from: hyphymikey on December 22, 2014, 12:51:12 AM
Bitpay is a payment processor. Someone PAID BFL and bitpay PROCESSED the payment, in which BFL received cash (which was supposed to be used to make products, but thats not bitpays business).

Nothing to see here folks.

HashTrade paid BFL $1M USD via BTC ~2 weeks prior to BFL converting a different $1M USD output BTC via BitPay. Prior to and after that transaction, BFL converted $10M+ worth of BTC at the exchange rate at the time to fiat via BitPay. All documented.

With the exception of the $1M USD worth of BTC from HashTrade, all the other BTC were the direct result of mining revenue from the burn-in process that BFL claimed a myriad of times in no way in hell were they testing their bitcoin miners on the protocol, using a testnet instead. Again, all documented.

Ergo, there's a lot to see here!

#ASKFTC
#TELLKSAG
#Bazinga
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malaimult
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December 23, 2014, 05:40:13 AM
 #42
Quote from: Gleb Gamow on December 22, 2014, 08:09:03 AM
Quote from: hyphymikey on December 22, 2014, 12:51:12 AM
Bitpay is a payment processor. Someone PAID BFL and bitpay PROCESSED the payment, in which BFL received cash (which was supposed to be used to make products, but thats not bitpays business).

Nothing to see here folks.

HashTrade paid BFL $1M USD via BTC ~2 weeks prior to BFL converting a different $1M USD output BTC via BitPay. Prior to and after that transaction, BFL converted $10M+ worth of BTC at the exchange rate at the time to fiat via BitPay. All documented.

With the exception of the $1M USD worth of BTC from HashTrade, all the other BTC were the direct result of mining revenue from the burn-in process that BFL claimed a myriad of times in no way in hell were they testing their bitcoin miners on the protocol, using a testnet instead. Again, all documented.

Ergo, there's a lot to see here!

#ASKFTC
#TELLKSAG
#Bazing
bitcoin is actually fungible so regardless of which imputs they sold to bitpay any sale would be from their mining revenue. I think your beef is incorrectly directed at bitpay because they are essentially acting as nothing more then an exchange
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December 23, 2014, 06:41:06 AM
 #43
Quote from: malaimult on December 23, 2014, 05:40:13 AM
Quote from: Gleb Gamow on December 22, 2014, 08:09:03 AM
Quote from: hyphymikey on December 22, 2014, 12:51:12 AM
Bitpay is a payment processor. Someone PAID BFL and bitpay PROCESSED the payment, in which BFL received cash (which was supposed to be used to make products, but thats not bitpays business).

Nothing to see here folks.

HashTrade paid BFL $1M USD via BTC ~2 weeks prior to BFL converting a different $1M USD output BTC via BitPay. Prior to and after that transaction, BFL converted $10M+ worth of BTC at the exchange rate at the time to fiat via BitPay. All documented.

With the exception of the $1M USD worth of BTC from HashTrade, all the other BTC were the direct result of mining revenue from the burn-in process that BFL claimed a myriad of times in no way in hell were they testing their bitcoin miners on the protocol, using a testnet instead. Again, all documented.

Ergo, there's a lot to see here!

#ASKFTC
#TELLKSAG
#Bazing
bitcoin is actually fungible so regardless of which imputs they sold to bitpay any sale would be from their mining revenue. I think your beef is incorrectly directed at bitpay because they are essentially acting as nothing more then an exchange

I think that is the point....
They are a payment processor NOT an exchange.
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