TOR network guarantees the maximum amount of anonymity possible. Even then these people could trace him (I don't think that he really expected that). So no use in fleeing to log cabins. As long as he lives in this planet, these people will get him. Now, it is only a matter of days.

As far as I could understand, it is possible for individuals to purchase and sell their bitcoin or exchange it for something else.

If possible, buy from BTC-E, in sets of 10-15 coins at a time. Their rates are much lower than Mt.Gox and Bitstamp. As you will be purchasing in bulk amounts... it is MUST to get the lowest possible purchase price.

The storage of the coins can be a big concern. Store them in at least 4 different wallets (offline / paper) and create a dozen backups for each of them.

BTW... I'd consider LTC and NMC extremely risky. Put no more than 10% of your investment in to them.

There is also a risk of Cyprus-like situation happening, if the country goes bankrupt as a result of the populist financial measures. The government can seize the assets of its citizens (BTC in our case).

Switzerland is having tough immigration laws, and it doesn't have to follow the orders from the EU. So no chance.

On the other hand, plenty of them are heading towards England.

Read somewhere that he is holding some 950,000 BTC. Not enough to give one BTC to everyone who possess a wallet right now.

You are very skilfully ignoring the negative points. Yes.... lot of profits were made during the prohibition era. But who gained? It was the criminals who gained from it, while the common people suffered. Same will happen here. Criminals will take over BTC trading. Ordinary people like us will be pushed out.

The argument is not like "India is against gold imports they wouldn't like BTC either"

The reason why I am saying that the RBI will act against BTC is because:

1. The Indian government is cash strapped right now. They are thinking about tightening the Capital controls.

2. A lot of Indian "dirty money" is stashed abroad. The RBI might believe that legalizing the BTC can increase the velocity and volume of the outflow.

3. Due to increased taxes, already a lot of smuggling (gold, electronics, medicines, alcohol.etc) is taking place. The RBI has reasons to doubt that the legalization of BTC can lead to the circumvention of the existing tax authority, as the transactions are anonymous.


BTW... the reason why heavy taxes were imposed on gold was not because of the fear that gold will replace the INR. It was because of the sharply rising fiscal and trade deficit. India imports somewhere between 1,000 and 2,000 tonnes of gold every year, which was putting a lot of pressure on the economy. Well... the opposition is accusing that the government did that to encourage smuggling of gold (99% of the gold smugglers who were caught recently had some links to businessman who supported the ruling party).

I seriously doubt that. BTC-China was dealing with somewhere around 150,000+ BTC per day. Most of the investors will be having at least 1 BTC.

No. He is too greedy for that.

Right now he will be probably thinking about allying with the Cosa Nostra or the 'Ndrangheta. He will give them 50% of the coins (worth somewhere around 50 million USD) in return for his LIFE.

You can use non-retractable payment options like Skrill and OK Pay. Just go to Localbitcoins.com and select all "Sell Bitcoin" options which are enabled with Skrill. Then select the one which is nearest to you and having the maximum positive feedback. Release the escrow only after you receive your payment. If you don't want to use Skrill, select the other buyers who are enabled with options such as Ukash and Pingit.

BTW... there are  a lot of sellers (with excellent reputation) who are buying BTCs for Paypal in Localbitcoins. Still... use this option only if you are extremely confident.

As far as I can understand, it's the first case. They are only banned from dealing with BTCs directly.

But as someone points out, the language used is very vague (probably knowingly). So it will be open to all sorts of interpretations.

Well... the police can investigate only if someone makes a complaint... right? And the complainant has to be a Czech citizen as well.

The site was illegal... who is going to file the complaint?

Good job Ajax!

Now things are clearer... He probably stole those coins to get himself a breast reduction surgery. 

See this. Absolute madness. If someone gets $2,800 pm for free without doing any work, then how many adults will actually work for a living? In effect this is punishing hard working people, while rewarding the welfare kings and queens.

Hmm... but there is no dearth of scammers. Just a simple google search reveals these sites which sells land in moon: 1, 2, 3.

And there is no dearth of fools who fall in to this trap either.

http://www.businessweek.com/news/2013-12-05/china-said-to-consider-bitcoin-regulations-after-investor-losses


A lot of people lost their money when the GBL scammers vanished in thin air with all the BTCs. BW thinks that this incident prompted the new Chinese regulations.

Well... my guess is that an unholy alliance of Paypal, Goldman, Western Union, Visa, Master.etc will seriously consider doing this, if their business gets affected by BTC in the near future.

Chavez was a legendary figure with excellent ideals. Unfortunately, the same can't be said about the person who succeeded him. The results are there for everyone to see. 

Well... Gabon is prosperous... and it's citizens are wealthy. But such cases are quite rare in Africa.


I tend to disagree. Most of the other African nations (perhaps with the exception of DR COngo) doesn't have as much natural resources per capita as the Angolans are having. However, I can agree that corruption and bureaucracy is everywhere.