Bitcoin Forum

http://money.cnn.com/2014/01/27/technology/security/bitcoin-arrest/index.html?hpt=hp_t2

That's some conclusion to draw from one dude being arrested for (allegedly) breaking the law.

Not really when you think about it because they are arresting him on suspicion that he was exchanging money for bitcoins, based on because he was doing it for people that was using silk road. And either you didn't read the story or your super man that can read a whole page in like 3 seconds then come back here and respond because you responded awfully quick to the time I started this thread.

The story has been out for like half a day man! There are multiple threads in multiple subforums. Didn't you bother to search before you created a new thread on the same topic?

Here is the 27 page complaint, which I've had ample time to read.

http://www.justice.gov/usao/nys/pressreleases/January14/SchremFaiellaChargesPR/Faiella,%20Robert%20M.%20and%20Charlie%20Shrem%20Complaint.pdf

I've noticed that this sort of thing happens anytime Bitcoin touches $1000 on any of the exchanges. And then this sort of thing happens and the whole thing goes to shit and drops to below $1K prices. One or twice I would say it's a coinicedence but it's happened more than that now, about 5 times I think. I think it's more obvious now that the bankers want a war with us.

Part of me still wants to say it's a coincedence but part of me knows it's not.

Or maybe he read the story from one of the other 3000000000 threads that contain the same info between here and reddit. This story has nothing to do with the FED trying to stop Bitcoin, it is about them trying to stop money laundering. They didnt even mention Bitinstant in the arrest warrant which means that they are looking at Shrem and not Bitcoin. Stop spamming this crap and trying to push your agenda to create panic about something that does not really impact our community in the slightest way. Bitcoin does not equal silk road.

Yay! Good to see another Terp in BTC.

BTW, nice job crushing his FUD, lol.

That guy probably works for the fed he was quick to defend it.

According to the complaint filing (and the pursuant sections of the Code of Federal Regulations), Shrem and Faiella are charged (more or less; there's a bit more legalese involved, but this is the basic gist) with being persons who accepted and transmited "currency, funds, or other value that substitutes for currency from one person ... to another location or person by any means" (31CFR§1010.100(ff)(5)) and failing to "register with FinCEN" (31CFR§1022.380(a)).

I think I broke these laws, too, when I traded homebrews with a friend.

It might be best for you to discontinue reading the .gov propaganda arm known as CNN. CNN will always defend the FED and the status quo and will spread FUD on anything that might disrupt it.

Ah shit... I forgot the really good bit of vague legalese about being "wherever located doing business, whether or not on a regular basis" (CFR§1010.100(ff)).

So don't think you can just trade stamps once and not break the law!

Could you please explain what the heck this is supposed to mean?

May be this news make bitcoin price drop by $50 ?

It's all theater. Shrem admitted on this forum that he was a Rothschild - not exactly a poor family. Its the kind of lazy psychological warfare that works on a lot of retards.

Be scared...they're coming to get you next!!

Part of the definition of being a "money transmitter" that allows the Justice Department to claim jurisdiction.

On another note, after carefully re-reading, they did indeed register with FinCEN, but failed to file Suspicious Activity Reports on themselves.

So they willingly contracted with FinCEN, which explains what this is about. Definitely all theater.

Thankfully the feds ARE NOT trying to stop bitcoin.  I don't know about other countries but in America the government has actually become more and more open about bitcoin and willing to let it expand and grow so long as there are some basic regulations around it.  That's the current status anyways.

Sherm getting arrested is certainly a black eye for the bitcoin community,  a community that many nay sayers already said was only "for drugs and money laundering"  so it should have a impact on the exchange rate of bitcoin in the short term  , long term though everything should be fine. Just a simple case of a guy breaking the law and getting caught.

Hope those guys are ok. The treatment of prisoners needs to be improved sometimes.
It can be quite an ordeal for people.
Pray for those guys.

http://bestfreechristian.com/stock_02/images/jil004.gif

I have no doubt that the gov't and the fed is trying to deter people from investing and using bitcoins by a smear campaign via the press and media outlets, but i don't think the price hitting $1000 on any of the exchanges has anything to do with it..

Government is trying to regulate it. If this guy participated in drug trade or money laundering, he's toast.

Just like the internet, crypto will be reigned in one way or another.

Deal wit it 8)


Or spend all your days bitching and moaning on the internet about how you are singlehandedly going to be the punisher and the judge of all like a bunch of overgrown 15 somethings with a mouth.

LOL...this is why I don't have to "deal wit it", you moron. Idiots like you still don't get it. Crypto is putting statism out of business. Deal wit it.

LOL this dumb ass punk.

Go for it, V. Shit's a lot more complicated than what you fantasize in your head.

The feds aren't *trying* to get their way into anything, they are actually into it. Infringing upon civil liberties, including economic liberty, is the mission statement of totalitarian government.

How do these allegations against Sherm make you all feel knowing that he is the Vice Chairman of the Bitcoin foundation?

Bad. Picking that idiot was a foolish mistake. Even picking me would have been better, at least we wouldn't have legal trouble then..

Nah, the only people who wouldn't have legal trouble would be those who are above the law. http://www.threefeloniesaday.com/Youtoo/tabid/86/Default.aspx

I wouldn't have trouble then.

This is more about the silk road than bitcoin, we've had worse news over the last few months, what happeneded to btc, not a lot, the honey badger shrugs and keeps on going.



 ;D

I fully agree, but as always there will be people like the OP spreading scarry stories. This is democracy - 3 idiots will always scream louder than 1 smart guy.

Lets all remember that he has not been convicted of a crime nor has any evidence has been presented yet. A criminal complaint is not itself evidence, nor is it an attempt to prosecute the case. A criminal complaint is simply a statement by the prosecutor outlining the reasons they believe they have adequate cause to charge someone with a crime.

This represents Bitcoin as a whole because he is one of the few faces of the Bitcoin Foundation. Their charter reads: "Bitcoin Foundation standardizes, protects and promotes the use of Bitcoin cryptographic money for the benefit of users worldwide." not exactly what he is being accused of. This is not exactly improving the reputation of Bitcoin as a whole nor is it helping the public misunderstandings, misinterpretations and misrepresentations.

Unfortunately regardless if he is guilty or not this is a big blow to the face of Bitcoin. We as a community need to have some serious discussions on who is representing us, what those people stand for and what our over all vision is in the future. If we don't I see some stormy weather ahead.

I have to say again that the OP was IMHO trying to spread FUD for some personal agenda but that does not negate the fact that this is a serious hit to our community. Not because the Silk Road is Bitcoin but because having the Vice Chairman of the Bitcoin Foundation in a national news story linking him to it leaves egg on all of our faces. It is up to us to clean up this mess and take a good hard look at what we want the world to see us as in a whole.

Even if Jesus Christ returned to earth, all atheists admitted they were wrong, and He sat on the BF board :P, He'd still be persecuted. There is no person "good enough" to represent us and be safe from prosecution, who isn't above the law as either a member of government or crony thereof.

The feds are trying to stop the usd dollar I think,  not bitcoin.
They busted 2 or 3 guys for dealing with bitcoins but they thrown in jail 1% of the population that deals in $. =))))))))))))))

Haha. Just because people are using Bitcoin that doesn't mean to say the Feds are just gonna sit back and let everybody launder their money.

+1

THIS

Very good advice.. Peoples must stop getting intoxicated by propaganda machines.. Almost all large media are spreading FUD, and thoses are all own by someone who have to much and want to keep status quo.

Imagine what Hitler would I've been able to do with TV's propaganda !

Close and sell your TV, stop reading too large to be faire media.  Selling your TV and stop paying your content provider, then your mind will be more sane, and you'll have some extra money monthly :)