It appears that some cops fabricated evidence to cover up their theft of bitcoins. Then different cops submitted that evidence to trial with some help from the judge to make sure the evidence couldn't be questioned.  Not one of the justice system's prouder moments.

I wonder when Oliver Stone will get around to this story.

By reading op i thought it was some kind of trading platform where users can trade bitcoins but your homepage gives entirly different idea.there is no mention of it anywhere on your homepage about trading or how and where to invest.It come across as simple bitcoin wallet

If you need to hide how much money was donated to a good cause, you need to reconsider what you doing. The whole point of donations

to charities are for people to see how much money was donated to the cause. Yes, Satoshi wanted Bitcoin to be "digital cash" but he also

recognized that it needs to be pseudo anonymous and not 100% anonymous.  

Why a secured loan is better than a regular sale?

Bitcoin transactions are irreversible like cash. In contrast, credit card, debit card, and PayPal payments can all be reversed. When you sell bitcoin to someone, you have a risk that a dishonest buyer will perform a chargeback and get his money back from you.
Secure lending solves this problem by giving bitcoin as a loan. A borrower has to pass a verification process and a credit risk assessment. The borrower also signs a legally binding loan agreement, according to which he or she needs to return bitcoin within one day, if his security deposit payment is cancelled.

What are the risks?

Lending bitcoin has risks associated with it. Like with any lending, there is a certain percentage of bad loans. You should expect a portion of your interest income to be lost due to payment reversals. At xCoins, we carefully vet borrowers to keep the losses low. We are proud to say that the bad loan ratio in our system is in low single digits, which allows our lenders to receive double-digit profits!

What happens, if bitcoin price changes?

Because of bitcoin price volatility, all loan amounts are denominated in US dollars. You will need to return the amount of bitcoin equivalent to the amount you received in US dollars.

How much does it cost?

xCoins is free for lenders. The borrower pays the interest fee to the lender. The borrower also pays the loan origination fee (xCoins commission) and the PayPal processing fee of 2.9% + $0.30 on top of the loan amount and interest.

can you mention any place where people pay taxes on bitcoin. i think still there is not a  single country who have imposed tax on bitcoin. it is still tax free and the reason is that still not a sing le country legalize bitcoin.

if some state declare it clearly that buy and selling of bitcoin is illegal then certainly it must be illegal for the poople of those countries. and those countries who have no statement about bitcoin or those who has consider the buying and selling of bitcoin legal then it is not illegal. then it is legal there.

It all depends on the country those people are, and the laws operating there. I think they have a bitcoin-ban there, because ordinarily bitcoin is a commodity and you shouldn't need a license to sell goods unless you are dealing with illegal goods. E.g do I need a license to sell books? It depend on the laws of the land.

if it is consider as illegal in your country then it is illegal for you but if your country has yet not given any statement about this then it is legal for you.

if you are living in such a country where bitcoin is banned. then if you are holding or selling your bitcoin then it is illegal. but if your country has yet not given any statement about bitcoin then it is legal. and you can use or can sell it very easily. without any restriction.

may be some countries have imposed such kind of law in their country that if one want to trade in bitcoin or do transaction or using bitcoin for any other reason he has to make a license for it as we normally do so for other things, but may be such kind of law is applicable in some countries and not every where because we have no such kind of restriction and we are using bitcoin with out any licence or any thing else.

yes there is no doubt about this that the bitcoin you are holding is your property, but you are living in a state and you have to obey the rules and regulation of that that, and if you are not doing so its mean that you are busy in an illegal activities, and you will charge for that, therefore if a stage has consider bitcoin as illegal then all activities related to bitcoin will also be consider as illegal, therefore buying and selling of bitcoin is illegal in that state.

Haven't heard that someone got arrested because of selling bitcoins. But i do heard that some countries are forbidding people to use Bitcoin, maybe in that country if they traced you or caught you doing transaction with Bitcoin then you'll get arrested. As long as i know when you are using bitcoin you are anonymous and that is the reason why i use bitcoin to avoid tax also.

True,it depends on what country do you live in because some countries banned Bitcoin of such reason but most countries doesn't have any care at all regarding to Bitcoin in fact some countries already adopted Bitcoin by having merchants which accept btc as a payment. In my own view, Bitcoin doesn't have a harmful effect for it should be treated by others as an illegal coin.

yes it is totally depending on the policy of the state, if a state has consider bitcoin as legal currency then you can buy or sell your bitcoin but your state has consider bitcoin as illegal currency and they are not allowing people using bitcoin then it is illegal for you to buy or sell your bitcoin, i think still most of the countries have not yet consider bitcoin as legal currency but still people there using bitcoin illegally.

to me most of the state has yet not given any statement about bitcoin, either it is legal or illegal in their state so in such condition what will be the position of bitcoin, it will be legal or illegal there? in my country as there is no notification about bitcoin from the government side that either it is legal or illegal, but still i am using Allied Bank for withdrawal of my money from  my wallet but first i change it in to USD.

i think there are so many other activities which are illegal in our country for example gambling is totally illegal in our state but still people play gamblin g illegal, i think its just for information purposes to know that  either buying or selling of bitcoin is legal or illegal in country.

You two need to look earlier in this thread at the posts of BurtW.

I was arrested for selling my Bitcoins using localbitcoins.com

I paid all of my capital gains taxes on all of my trading - that was not the issue.  The legal issue boiled down to one question:  was I operating a business or not.  They claimed it was a business, I claimed it was not.  After being forced to "donate" about $40,000 in cash and $40,000 in Bitcoin to their Federal Asset Forfeiture slush fund we agreed to disagree and they dropped the charges.  Defending me against the federal felony charge [Operating a business without a license, up to five years in prison and a $250,000 fine] did end up costing us almost $300,000 of our retirement funds, our daughter's college fund, our savings, and the equity in our house.

You can read all about it here:

http://www.jmwagner.com/
http://www.burtw.com/

However, if you sell your Bitcoins though an exchange you will not run into this specific issue since there is really no way they can call it a business, go after you, and then grab all the assets they can get their money grubbing hands on.

Since my case was dismissed before it went to trial this was not decided.  Whether this it is a business or not currently can only be decided by a jury.
Also not true.  You would have to argue this point with motions before a judge and then possibly a jury.  This would have been an argument in my case but again the motions were never filed and the case did not go to a jury. 
And this would help you how?  Sure, if someone says "I am a drug dealer" or "I am an undercover cop pretending to be a drug dealer"  or "I am an undercover Homeland Security agent" then you should not trade with them.  But all of these guys will lie to your face.  Then what?
In my case the only legal issue was whether it was a business or not.  If you use your Bitcoins to do something illegal, for example to buy a controlled substance with them, that would be a whole different case.  Anyway, how would you go about enforcing how the Bitcoins bought from you on localbitcoins eventually get used?

i feel bad for op he needs help right now how did they get access
to your account op?

On the day I was arrested at my client's office in front of my client and all my co-workers they did not have to tell me why I was being arrested - sealed arrest warrant.
That same day they searched our house and did not have to tell us what they were looking for - sealed search warrant.
After being arrested in front of my client, which was a nice touch as they immediately terminated our contract, they took me to our house.  I was taken aback by the number of cars so I made a point of counting them, 22.
The neighbors who watched the whole thing but failed to take any video (darn) counted up to 35 agents involved in the search.
They were very thorough even searching the entire attic and crawl space, every book, etc.  It took my wife weeks to get the house put back together.  Imagine up to 35 people searching you house for hours, they had the manpower and time to search just about everywhere.
During the search they got into my safe containing all of my physical Bitcoins and other Bitcoin related stuff.
Since I was not doing anything wrong I never expected to be shaken down in this way.  
My security threat profile was common burglary and my main concern was making sure my wife would be able to sell the Bitcoins in the event of my death.  So, the the vast majority of my Bitcoins were kept in a Trezor Bitcoin safe with the seed words kept off-site.
After searching my house for many hours and not finding what they were looking for, but taking every computer and electronic memory device they could get their hands on, they phoned in a search warrant for my office, which was granted.
Upon searching my office they found my off-site paper backup of the seed words for the Trezor which were there with retrieval instruction in the case of my death.  They took all of our corporate computers and left.
The rest is, as they say, history.

Food for thought:  my attorney informed me that they can and sometime do put people in jail until they turn over a password.  So in reality your passwords are only as safe as your willingness to spend time in jail over them.  After spending 3 days and 2 nights in solitary confinement (in the SHU at the federal detention center) I can tell you that most people will crack in pretty short order.  It is boring beyond comprehension.

Part of the total cost shown on my wife's web site ($284,373.00) was the cost of replacing all of the computers and cell phones we needed in order for our business to keep operating.  Of course once we get all the computers back we will then have more computers and phones than we know what to do with.  Anyone want to buy a used computer that was under government control for nine months?

Too bad all of the coins are going to be sold in a single block... However:


I don't think you'd be able to buy some back even if your part was sold in one block (if I'm correctly understanding this). Or maybe the rule they apply to you is:

https://www.usmarshals.gov/news/chron/2016/080816.htm

It looks like they are going to finally auction off the 186 BTC they took from me.  My coins were here:

https://blockchain.info/address/1Eu38i1DkRAPAJhSqbseVroJDpMRfJbAx3

Then moved to here:

https://blockchain.info/address/1EJgLfRaXARWgj29FRCLSj2Nfkynb2JGGx

Now they are here:

https://blockchain.info/address/18natxG8EnhmcQQAjirNXoGrZ5geBWcM2R

Getting ready to be  auctioned off to the highest bidder.

but in so many countries there is no definition of bitcoin in their law or jurisdiction. but still government is not accepting bitcoin, in such condition  what should we do. because the government has no statement about bitcoin and still no one is ready to accept it.

It is legal for any person who sell his/her bitcoins, they have full right and full control on their bitcoins and they can do what they want with their bitcoins, by the way the better choice will be that do not sell bitcoins and use your money in the shape of bitcoin, so that we make it a successful currency.

It all depends on the country those people are, and the laws operating there. I think they have a bitcoin-ban there, because ordinarily bitcoin is a commodity and you shouldn't need a license to sell goods unless you are dealing with illegal goods. E.g do I need a license to sell books? It depend on the laws of the land.

I was arrested for selling my Bitcoins using localbitcoins.com

I paid all of my capital gains taxes on all of my trading - that was not the issue.  The legal issue boiled down to one question:  was I operating a business or not.  They claimed it was a business, I claimed it was not.  After being forced to "donate" about $40,000 in cash and $40,000 in Bitcoin to their Federal Asset Forfeiture slush fund we agreed to disagree and they dropped the charges.  Defending me against the federal felony charge [Operating a business without a license, up to five years in prison and a $250,000 fine] did end up costing us almost $300,000 of our retirement funds, our daughter's college fund, our savings, and the equity in our house.

You can read all about it here:

http://www.jmwagner.com/
http://www.burtw.com/

However, if you sell your Bitcoins though an exchange you will not run into this specific issue since there is really no way they can call it a business, go after you, and then grab all the assets they can get their money grubbing hands on.

Since my case was dismissed before it went to trial this was not decided.  Whether this it is a business or not currently can only be decided by a jury.
Also not true.  You would have to argue this point with motions before a judge and then possibly a jury.  This would have been an argument in my case but again the motions were never filed and the case did not go to a jury. 
And this would help you how?  Sure, if someone says "I am a drug dealer" or "I am an undercover cop pretending to be a drug dealer"  or "I am an undercover Homeland Security agent" then you should not trade with them.  But all of these guys will lie to your face.  Then what?
In my case the only legal issue was whether it was a business or not.  If you use your Bitcoins to do something illegal, for example to buy a controlled substance with them, that would be a whole different case.  Anyway, how would you go about enforcing how the Bitcoins bought from you on localbitcoins eventually get used?

I don't understand why people prefer to hold bitcoin for a long term as no is aware about the future of bitcoin so holding bitcoin too long can be risky its better to keep on earning profits regularly.

It is not illegal to sell bitcoins,unless the goverment in your country will say that using btc at general is banned.
However buying/selling btc is some kind of a grey area,the goverment does not get taxes for it,and nobody controlls it actually.But it is not illegal in most of countries.

can you mention any place where people pay taxes on bitcoin. i think still there is not a  single country who have imposed tax on bitcoin. it is still tax free and the reason is that still not a sing le country legalize bitcoin.

Sure the consumption of electricity rises if btc hits 500 000-1 000 000 usd all of sudden. However, also the mining tech becomes better (more efficient) + there will be more supply for electricity.