I'm a bit perplexed.
I thought bitcoin ownership and conversion is perfectly legal in the U.S. Or is it a state-by-state basis?
Or perhaps he was just doing this unreported and did not pay a single penny of tax on it? If so, then I have no sympathy for him, that's clearly breaking the law.
Ofcourse thats not a whole story. Seriously think hes only buying and selling for his own investment? Thats what he will use for defense. FEDs might have more than that. That's what I'm thinking. Otherwise, FEDs would be having a field day prosecuting thousands of sellers on localbitcoins over the past 2 years. There's got to be more on this story regarding some deeper illicit activities, and most likely tax evasion on a grand scale (which, does not matter whether you're selling bitcoins or shit on ebay...you'll eventually get hit) It is perfectly possible that he traded coins connected to illicit activities, without knowing. Normally people don't talk about that, unless they are really really stupid, or sting agents. And naturally, the Feds will go after the source. Another possibility is that they are going for the big fish first, trying to scare the "thousands of sellers on localbitcoins" because it is a bit too expensive even for big government, to send 35 highly paid henchmen after each of them. This is what the German Bafin is doing, they scare individuals to stop them selling Bitcoins (which is possibly the reason why LBC banned Germany). It is not illegal in Germany to trade BTC without a license on a non-business basis, but the legal threats stop most people because they don't want the hassle and expense.  It's not really expensive since there is a 1/4 million dollar fine and all his bit coins and money and property will be seized as well as all computer equipment I think that's more than enough to cover the price of sending some goons to his house for an hour or two so a nice profit to be made busting anyone else who is doing anything "illegal" in btc Yeah easily..they would be making really good profit out of it..without a doubt.! Going to bust Charlie schrem made them another million usd The silkroad btc seller guy got $950,000 fine as well as some jail iirc That's an easy 2 million from two quick arrests, I assume burtw will be another easy million $ for them Let's not even talk about ross ulbright and his hundreds of millions of dollars worth..... Although they probably wasted more money looking for him You need to take into consideration the money it will cost to prosecute them as well as the cost of a trial. I don't know if it would cost a million dollars or not, however they would need to pay for the DA, the staff in the DA's office, they need to give all the evidence against them to the defendant (this alone probably cost close to a million dollars in Ross's case), pay for court security, for the judge, for the jury (potentially for hotels/meals for the jury if they are sequestered ). The list goes on. who do you think pays the wages of the police and courts ? they are not working solely from the bitcoins they can seize  they get their salary from the taxpayer anyway feds getting millions of btc to auction off is just a christmas bonus lol |
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I'm a bit perplexed.
I thought bitcoin ownership and conversion is perfectly legal in the U.S. Or is it a state-by-state basis?
Or perhaps he was just doing this unreported and did not pay a single penny of tax on it? If so, then I have no sympathy for him, that's clearly breaking the law.
Ofcourse thats not a whole story. Seriously think hes only buying and selling for his own investment? Thats what he will use for defense. FEDs might have more than that. That's what I'm thinking. Otherwise, FEDs would be having a field day prosecuting thousands of sellers on localbitcoins over the past 2 years. There's got to be more on this story regarding some deeper illicit activities, and most likely tax evasion on a grand scale (which, does not matter whether you're selling bitcoins or shit on ebay...you'll eventually get hit) It is perfectly possible that he traded coins connected to illicit activities, without knowing. Normally people don't talk about that, unless they are really really stupid, or sting agents. And naturally, the Feds will go after the source. Another possibility is that they are going for the big fish first, trying to scare the "thousands of sellers on localbitcoins" because it is a bit too expensive even for big government, to send 35 highly paid henchmen after each of them. This is what the German Bafin is doing, they scare individuals to stop them selling Bitcoins (which is possibly the reason why LBC banned Germany). It is not illegal in Germany to trade BTC without a license on a non-business basis, but the legal threats stop most people because they don't want the hassle and expense. It's not really expensive since there is a 1/4 million dollar fine and all his bit coins and money and property will be seized as well as all computer equipment I think that's more than enough to cover the price of sending some goons to his house for an hour or two so a nice profit to be made busting anyone else who is doing anything "illegal" in btc Yeah easily..they would be making really good profit out of it..without a doubt.! Going to bust Charlie schrem made them another million usd The silkroad btc seller guy got $950,000 fine as well as some jail iirc That's an easy 2 million from two quick arrests, I assume burtw will be another easy million $ for them Let's not even talk about ross ulbright and his hundreds of millions of dollars worth..... Although they probably wasted more money looking for him You need to take into consideration the money it will cost to prosecute them as well as the cost of a trial. I don't know if it would cost a million dollars or not, however they would need to pay for the DA, the staff in the DA's office, they need to give all the evidence against them to the defendant (this alone probably cost close to a million dollars in Ross's case), pay for court security, for the judge, for the jury (potentially for hotels/meals for the jury if they are sequestered ). The list goes on. Money is not an issue. They already garnered more than enough from the seized coins from the SilkRoad debacle, and I don't even think they've auctioned off all of them, either. The DA's and judges are already under salary lol what are you even talking about? They are government workers. There have been much bigger heists/busts than this prosecuted before. If you think anything phazes or scares the U.S. government, then you are sadly mistaken. I am saying that prosecuting Bitcoin traders is not going to be as profitable as it is being made out to be. The DA and judges are on salary, however if there are enough cases then more will need to be hired, and if there are few enough cases some will be laid off. Just because they are on salary does not mean that they are a permanent fixed expense. it doesnt take long when the defendants are scared shitless of going to jail for a long time so they agree to forefeit all their assets and just plead guilty without a trial thats what everyone has done so far ( ulbright is the exception ) |
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Which one of those companies became Bell Telephone?
the first one to market it properly to the masses?  Bell had the advantage of a patent which allowed his company to be the only telephone company for several years. Being first has huge advantages. betamax was arguably better quality than vhs but VHS won the war by being mass adopted first .....by the time betamax was ready with 2 hour recording vhs was the standard format because they had gained enough adoption to win the market ......... features can be added to bitcoin , 6 years of progress and infrastructure is a huge headstart on anything new that that might be introduced of course bill gates would rather make his own coin ,the same with warren buffet who is heavily invested in banking anyway ,thats all the can say for obvious reasons ,if this were a court of law their opinions would be thrown out because they are impartial ......... |
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I'm a bit perplexed.
I thought bitcoin ownership and conversion is perfectly legal in the U.S. Or is it a state-by-state basis?
Or perhaps he was just doing this unreported and did not pay a single penny of tax on it? If so, then I have no sympathy for him, that's clearly breaking the law.
Ofcourse thats not a whole story. Seriously think hes only buying and selling for his own investment? Thats what he will use for defense. FEDs might have more than that. That's what I'm thinking. Otherwise, FEDs would be having a field day prosecuting thousands of sellers on localbitcoins over the past 2 years. There's got to be more on this story regarding some deeper illicit activities, and most likely tax evasion on a grand scale (which, does not matter whether you're selling bitcoins or shit on ebay...you'll eventually get hit) It is perfectly possible that he traded coins connected to illicit activities, without knowing. Normally people don't talk about that, unless they are really really stupid, or sting agents. And naturally, the Feds will go after the source. Another possibility is that they are going for the big fish first, trying to scare the "thousands of sellers on localbitcoins" because it is a bit too expensive even for big government, to send 35 highly paid henchmen after each of them. This is what the German Bafin is doing, they scare individuals to stop them selling Bitcoins (which is possibly the reason why LBC banned Germany). It is not illegal in Germany to trade BTC without a license on a non-business basis, but the legal threats stop most people because they don't want the hassle and expense. It's not really expensive since there is a 1/4 million dollar fine and all his bit coins and money and property will be seized as well as all computer equipment I think that's more than enough to cover the price of sending some goons to his house for an hour or two so a nice profit to be made busting anyone else who is doing anything "illegal" in btc Yeah easily..they would be making really good profit out of it..without a doubt.! Going to bust Charlie schrem made them another million usd The silkroad btc seller guy got $950,000 fine as well as some jail iirc That's an easy 2 million from two quick arrests, I assume burtw will be another easy million $ for them Let's not even talk about ross ulbright and his hundreds of millions of dollars worth..... Although they probably wasted more money looking for him |
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The Winklevoss twins have a track record of betting on the wrong horse.
What were those wrong horses? They trusted Zuckerberg to code their social network ConnectU, he betrayed them and ran away with the idea: fail. They invested in BitInstant but it went bust as the founder got prosecuted for money laundering: fail. They are starting an official bitcoin exchange but it's already too late because CoinBase has the first mover advantage and backing from NYSE: fail. They invested millions over millions in Bitcoin without realizing that it is crippled by technical limitations and already earmarked for replacement by newer and better technology: fail. The only mistake they made was to trust Zuckerberg when they were teensgers imo They have amassed a fortune already, more money than most people will ever see in their dreams 1.2 million Facebook shares - win 1% of the total btc - win Their own regulated exchange - win First btc etf (if approved) - win Made money from bitinstant but avoided the legal issues unlike Charlie - win They also have tens of millions of dollars in cash if not hundreds so even if everything imploded tomorrow they would be fine - win Seem to be doing OK for a couple of young guys.... But I'm sure you could do it better, right? |
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I'm a bit perplexed.
I thought bitcoin ownership and conversion is perfectly legal in the U.S. Or is it a state-by-state basis?
Or perhaps he was just doing this unreported and did not pay a single penny of tax on it? If so, then I have no sympathy for him, that's clearly breaking the law.
Ofcourse thats not a whole story. Seriously think hes only buying and selling for his own investment? Thats what he will use for defense. FEDs might have more than that. That's what I'm thinking. Otherwise, FEDs would be having a field day prosecuting thousands of sellers on localbitcoins over the past 2 years. There's got to be more on this story regarding some deeper illicit activities, and most likely tax evasion on a grand scale (which, does not matter whether you're selling bitcoins or shit on ebay...you'll eventually get hit) It is perfectly possible that he traded coins connected to illicit activities, without knowing. Normally people don't talk about that, unless they are really really stupid, or sting agents. And naturally, the Feds will go after the source. Another possibility is that they are going for the big fish first, trying to scare the "thousands of sellers on localbitcoins" because it is a bit too expensive even for big government, to send 35 highly paid henchmen after each of them. This is what the German Bafin is doing, they scare individuals to stop them selling Bitcoins (which is possibly the reason why LBC banned Germany). It is not illegal in Germany to trade BTC without a license on a non-business basis, but the legal threats stop most people because they don't want the hassle and expense. It's not really expensive since there is a 1/4 million dollar fine and all his bit coins and money and property will be seized as well as all computer equipment I think that's more than enough to cover the price of sending some goons to his house for an hour or two so a nice profit to be made busting anyone else who is doing anything "illegal" in btc |
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Also, hes known to be involved in the Ponzi run by Pirate. At the time, he thought bitcoin was just funny monopoly money. He also knew full well its a ponzi (who wouldnt) but he still run a passthrough. That alone would make me never trust him.
I'm very clear about ethics. Thats why i dont even support signature campaign on this forums because most of them are scamming businesses. Making merely 0.1 a month to help the scammers? fuck no
Thumbs up for this comment. For example, anyone with bitmixer in their sig should be aware they are supporting a criminal money laundering service. It's well know that huge amounts of stolen btc have gone through this mixer, including klee's 1700 stolen btc. A lot of people on this forum really need to get their ethics clear about what they are doing in bitcoinland and how it might not be looked on so favourably in the real world. Just sayin' A large % of usd banknotes tested by forensics had trace amounts of cocaine on them so they were in contact with a illegal class A substance before being "laundered " back into the wild Think about that the next time you put "drug money" in your wallet  Its not much different than bitmixer |
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the boffin guy who was the front man in usa should be facing felony charges for fraud and deception and god knows what else
its unbelieveable that everyones just letting him off when he was responsible for the USA fronting of the company
WTF is the accountability for him ?
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30GB+ now lol
It's becoming insane. Imagine, since bitcoin is taking off and the number of transactions increasing, how HUGE this is going to become in the future... Almost touching 32GB today but that's not a lot really when the average hdd is 500 or 1tb thesedays and more storage is cheap to acquire... |
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2015 will be better than last year
I'm sure the price will reach at least $700
i hope so mate i am all in @ $210 looking for exit door now Exit now and take your profits... $50 a coin Buy in again if you can if it goes low.... |
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I was so amazed to see their interview today after they presented their ETF project!
They said if bitcoin market cap would be 400 billion if it becomes major among money transfer(visa,mastercard).
marketcap would be in trillions if it disrupts Gold..
They hold 1% of all bitcoin total supply!
They are taking bitcoin to wall street and comply with regulations to create the first ever ETF for bitcoin so all the banks and wall street major billionaires can now invest in bitcoin..
In the coming decentralized world which will be made up of key technologies like drones, 3d printing, autonomous agents we can be sure that the blockchain technology will be like how electricity was to the 20th century...
bitcoin will be the token of value in future...
they will be the masters of decentralized revolution!
If they were smart they would have sold when Bitcoin hit $1000, if they are still holding after that then they aren't good venture capitalists. theyre convinced a btc will be worth $40,000 so why would they sell for $1000 ? they do come across like assholes in that movie but did zuckerberg really steal their idea for facebook and develop it himself ? a judge must have believed they had some rights if they got $65,000,000 in compensation but i dont know the specifics ..... |
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there is no doubt that the people running the pirate pass through ponzi were promoting new users to invest in it ,
there was burtw ,goat ,paybtc and a few other users who helped to run the program for pirate@40 but whether
they knew it was a ponzi or not remains to be proved ?
i assume everyone will push the guilt onto pirate as hes already been arrested as the ringleader but its also unclear how much they actually profited
from the scaming of new "investors"
i guess we wont know that until the trial if ever the info goes public ..........
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I learned that no currency, crypto or real, can prevail if people who hold it only want to make some quick money by selling them outat high price. If all people in bitcoin community think it this way, bitcoin is merely a gambling.
-------------------
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its already bigger than that .......these pissy day traders spreading fud will be pushed out soon and market manipulation for the small timers will be a thing of the past ....does gold or silver or anything else ever fail just because people are always buying or selling it in the hope of making a profit ? thats not to say it wont still happen .......but it will take huge amounts of wealth to swing the price in any direction the bitcoin network is already the most powerful computer network on the planet ......thats pretty amazing when most people still dont even know what a bitcoin is early days yet friend ..........we are strong and getting stronger |
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Which one of those companies became Bell Telephone?
the first one to market it properly to the masses? |
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Even if it fails (which I don't think it will), I'll still be able to walk away with some very basic knowledge economics, trading and cryptography.
What have you learned from Bitcoin?
its 2 damn big to fail now theres too much at stake |
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Has there been an update about his situation ? Is someone following his case ?
from the article below it seems he may be charged with the btcst ponzi scam as well but no updates have been released yet : "Wagner was a participant in HYIP scams, including a program called “Pirate Pass Through,” a ponzi scam offered by the disgraced Bitcoin Savings & Trust; Trendon T. Shavers, aka “pirateat40,” the operator of Bitcoin Savings & Trust was arrested in 2013 for running a Ponzi scam. We can’t ascertain at this stage whether Wagner was involved in running the scam or was simply an investor at the top of the ponzi pyramid, but there is ample evidence that he was pushing the program. How the charges Wagner is facing are related to his involvement in HYIP scams isn’t clear, although certainly the fourth charge relating to transport and transmission of funds used in a criminal offense certainly would fit the definition." |
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But Satoshi was just a boy and he didn't take the key with him.
The key, huh? Bitcoiners better hope that "key" isn't lost. That would make Satoshi's stash value-less, wouldn't it? If the key is lost and Satoshi's million-BTC stash becomes value-less, Biycoiners will be more than happy. In Satoshi's own words, it makes everyone else's Bitcoins more valuable. Think of it as a donation to everyone else. Think about the apple and the tree. If the tree doesn't have any value, then the apples won't have value. "Value" is a made up thing, it's pure perception. If people found out Satoshi's cache was value-less, perception-wise, then Bitcoin is value-less. Losing private keys to Satoshi's coins do not make them value-less. It only makes them inaccessible. Tomato / tomato.... |
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Satoshi was the core team at the beginning! Lmao! You have no idea how bitcoin works do you?
Satoshi and Hal were the first two miners, their computers made coins and the clients they used, the only 2 clients on the network at the time were making coins. Satoshi's and Hal's wallets stored the private keys to each of their coins that they mined. No core dev team has the keys. This core team you made up out of thin air did not mine a bunch of coins and then said "hey Satoshi, these are for you, let me know when you want them!" After Satoshi and Hal mined a little while a third miner started mining, then the fourth and so on. The first bitcoin transaction ever was from Satoshi to Hal, which proves that Satoshi had his keys the whole time! So quit trolling and go educate yourself, all you are doing is proving to everyone that you are an idiot.
The first million or so btc have never been touched or moved or traded so maybe satoshi never bothered to keep the keys because this was a year or two before 10,000btc for a pizza time...... Its possible he didn't bother to save them since it was just an experiment and btc had no monetary value back then.... Or he could be dead and the are lost forever... |
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let the idiots dump their coins ,the sooner they get burned the better the bigger players who have tens of millions invested are going to end up controlling it all when its really worth something and the rest of the world will be fighting over the crumbs ........same as fiat really lol |
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version 0.9.3 Windows 7 Cant open the client in full screen!  Does it ever come good? How long have you waited? Is your hard drive light showing activity? This happens to me every time I boot my system and I am confident its normal procedure of validating the blockchain. Keep in mind the blockchain is 20+gb.... 30GB+ now lol |
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