Bitcoin Forum

http://www.reddit.com/r/SheepMarketplace/

What you think could be the effect on bitcoin? This is the link where they are transferring all the funds: https://blockchain.info/address/1EiVHZnDVjFH6Tic1YmWUSfYmVUnUZdnMU

So those guys have like for 45millions of bitcoins, if they decide to cash it out soon, im guessing it could cause a pretty big drop in the price right?

Nice. Bitcoin took scamming to the next level.

The only person more easy to scam than a Bitcoiner is a Bitcoiner on drugs.

Vendors got scammed, not the buyers.

Oh well, lesson learned again and again and again.

http://www.youtube.com/watch?v=NXCaHq-F0m4

Oh well, my edit didn't get through before the first reply. ;D

The moral of the story is, with Bitcoin you can get scammed any time, anywhere, and nothing seems safe.
I don't know about a crash, but I am certain that as long this keeps happening the general public won't take Bitcoin seriously. And I can't see any indication that it might stop.
It's just too easy to do it, that's why. And for everybody except hardline libertarians the no-chargeback policy is moronic. It's technically doable to enable chargebacks just the political attitude gets in the way.

So because some drug dealers got scammed, the mass public won't embrace bitcoin? You are an endless supply of gems.

It's not just drug dealers. Most scams weren't even black-market related.

Wow, hopefully they didn't make the same mistake as DPR and moved to some lovely indian ocean country beforehand.

The difference between those and DPR though is that DPR made his money with commissions on transactions during years in a “honest“ way. Those guys are just suckers who ran a site during like 6 months and than run away with all the vendors and buyers funds.

Hah everybody knew that SheepMarketplace had something strange, but most people (including my self) thought it was the FBI, not a scammer

man, I don't touch those bloody bitcoins  :D

Yeah, "it's too easy to post porn on the internet so the general public would never take internet seriously" right?

Btw, from the subreddit it appears the site is just having temporary difficulties, not running away (yet?).

ITT we equate scamming with pr0n.

No we don't, we are saying that every technology that changes the way people live attracts low life but that does not invalidate it in any way. There are ways to deal with scammers, and that is trust ratings. I have used various bitcoin services for several years and not once been scammed out of coins so far. It is pretty simple, actually.

Honeypot. Enough evidence gathered for years of police work.

I agree I just think it was a bad analogy ;x

I've never heard of it before, but who would trust a place called the SHEEP marketplace, they clearly only cater to sheeple. Thats almost as dumb as trusting a guy called pirate.

Hey prirate's a good guy, leave him out of this.

Fuck Trendon Shavers.  Wife beating scum.

Dude you're so long here and know so much about bitcoin history that I can't take you seriously when you advocate introducing chargebacks in bitcoin.

No I'm talking about the other pirate, the older pirate, the one who was actually a pirate.

Besides, it's not just political.  IMO, it can't be done without a central authority.

Say I sell for fiat and then price spikes.... Well fuck taking a loss, I'm gonna charge that shit back.

Lol instantly started to laugh when I heard this!

Why? Remember third part signed transactions? Remember the uproar?
The question on chargeback is on which authority they can happen, and if the transacting parties agree on an authority beforehand they should be able to have the chargeback option.

$40m scammed from sheepmarket.
http://007blog.net/fotos/2012/05/Obama-Not-Bad-Meme.jpg

Chargebacks?

That just shifts the scam potential from the receiver to the payer, and makes it more confusing potentially increasing the number of scams. Not to mention the fact that its a lot easier for a receiver to be 'trusted' rather than require the trust of every single sender ever.

Unless of course you're in favor of chargebacks verified by a central authority in which case (1) we can already do that its called an escrow and (2) it can't be built into the Bitcoin protocol itself because it would give one particular escrow an unfair advantage over all others.