is it not Localbitcoins about face to face trading?
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Mayzus were and are processing the wires for many exchanges, including Virtex and others....
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who is Ripple owner? Who is Bitstamp's owner? Who is CoinBase's owner? Same guys
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according to his website that is linked to this article they arrested him in his home, 35 federal agents searched his house, seized an unspecific amount of money, and seized their computers. I am curious to see the search/arrest warrants for him and what they claim exactly he was doing. This sounds like a pretty big response to just selling Bitcoin to a police officer who said they were going to use the money to buy drugs. Damn, 35 agents is a lot! but they do usually send excessive numbers for an arrest, usually 9 or 10. I guess they needed 25 extra forensics guys to deal with the computer media! A ridiculous number? Yes and no. That is what its all about, keeping large numbers of people happily employed and well paid: an overstaffed criminal organization. High taxes, almost no checks and balances and a gigantic number of arbitrary laws make it possible. http://www.burtw.com/home.html A mixture between Stalinism and Gotham City, if you ask me, the grotesque exaggeration of it will hopefully gather the attention of the court. Of course there is a difference between what the feds want and what they get; so far this is only allegations. Now the really good question is, what would have happened if the agents would not have suggested that they use funds associated with criminal activity? That is the definition of money laundering and pretty much illegal anywhere on the planet. The fascism starts where private individuals are banned from trading goods and services: “The federal prosecutor believes a person must have a money transmittal license to buy and sell Bitcoins for individual investment.” federal prosecutor has right. it's written on the FINCEN law this thing.... a person that creates units of convertible virtual currency and sells those units to another person for real currency or its equivalent is engaged in transmission to another location and is a money transmitter. In addition, a person is an exchanger and a money transmitter if the person accepts such de-centralized convertible virtual currency from one person and transmits it to another person as part of the acceptance and transfer of currency, funds, or other value that substitutes for currency."
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he is young...he did what he did but I think 15 year or even 10 years is too much... 10 years of prison it's not 10 years on a beach.
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That would not help with this attack, as the keys are compromised during the signing whether it happens online or offline. If you have a system running a compromised version of ECDSA, there's nothing you can really do to protect the private key of an address that's been used to sign a transaction. That being said, the attacker first has to get you to use a compromised version.
Which definitely can't be defined as 'easily'. The hack would be rather hard to deploy, especially on a larger base. large scale = any online wallet can be compromised in this way. When it's about computer, you can not be ever sure. Anyway, why would someone keep a large amount of funds in BTC by having the fear that he can wake up in a morning and see : balance ZERO.
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BTC was somehow good as idea but the centralized exchanges are ruining the whole system.
All exchanges for every commodity traded on earth from equities to metals to public coins are centralized at the moment. the BTC philosophy is based on other things, right? De-centralized services
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New article about the scandal: http://siliconangle.com/blog/2015/01/23/millions-stolen-inside-the-elaborate-bitcoin-scams-of-tadas-kasputis-egopay-virtex-com-paymentbase/MILLIONS STOLEN: INSIDE THE ELABORATE BITCOIN SCAMS OF TADAS KASPUTIS, EGOPAY, VIRTEX.COM & PAYMENTBASE Quote from the article: "The tale of Tadas Kasputis and his related Bitcoin companies is far more complicated, spans multiple countries, and may quite possibly be the most elaborate Bitcoin scam in the history of Cryptocurrency." It also lists the collaborators of what the article says is his "scam empire": Paulius Meskauskas, Tomas Andzelis, Mantas Gustys and Erik Schryvers. Finally it urges involvement by Consumer Affairs, the police, and potentially the FBI. that article is not correct and it has wrong infos. Virtex's payment processor was or still it is : http://www.mayzusfs.com/ and https://virtex.com/education/bankwire Virtex is based in Lithuania. Virtex Systems Ltd was incorporated in Seychelles, but the operations center is based in the beautiful city center of Kaunas, Lithuania.https://storify.com/Virtex_trading/virtex-advanced-cryptocurrency-exchange
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They had the idea for a social network, but they were too slow for Zuckerberg. They qualified for the Olympics, but again they were too slow. They wanted to launch the first licensed American exchange, but again, they were too slow for Coinbase. At first it was funny, but now it's getting tragic. These guys can't catch a break.
Coinbase is the same. What's the difference between the Coinbase's shareholders and Winklevoss? 2 gangs...same shit
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I am actually afraid of keyloggers when using online hot wallets because most of the time people use this service.
Then you should use an online wallet service that offers 2FA and get the confirmation code sent to your mobile phone. That way a keylogger won't work unless they steal your phone and you also have the added extra of getting notified by sms if someone else logs into your account. False, anyone can easily hack your private key if they have access to the server itself (operators, devs) they can also make changes to the system without your consent. If a flaw is found in the system itself, you would be hacked, whether you are using 2FA ornot. A recent incident is Blockchain.info's. If you are using a desktop wallet, you can check the source code yourself and decide whether to download it. the online wallets are not safe
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question, what it will happen if there will be NO miner or only few?
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What everyone (except one person) fails to realize in this thread is that different miners will consume different amounts of electricity per TH/s then can do. As a general rule, newer models (based on when they were initially released) tend to be more efficient then older models. Since a cloud mining company would need to be constantly buying newer hardware their average age (and efficiency) of their farm is going to be worse then what you can buy with the latest and greatest
please put some links with the latest hardware and let's make some calculations after that it seems new : http://www.spondoolies-tech.com/products/holiday-special-sp20-mini-farm-batch-2 you can earn up to 2 USD per DAY Smiley Hardware cost = 5500 USD Electricity = aprox 10 cents per hour This one would have roughly 21 TH/s of mining capacity and would consume roughly 18 KW every hour they run, or 432 KwH per day ( source). Assuming you pay $0.09 per KwH (which is low and below the national average) then you would be spending roughly $38.88 per day on electricity. Based on current difficulty you would earn roughly 0.2002 BTC per day assuming you have 100% luck. Based on a $250 price of bitcoin that works out to $50.05 per day of revenue. If you were to assume the price of bitcoin is $200 (where is was only a few days ago) then you would earn only $40.04 per day which although is above the cost of electricity, it does not give very much room for error. http://www.bitfury.org/productsBF4500 Cost : around 10,000 USD Specifications 4.5TH/s 3000W you can earn up to 15 USD per day without electricity cost. Please correct me if I am wrong. I don't see where you got your cost from. However I would agree with the rated hashrate and electric consumption. The gross revenue would be closer to $10.72 assuming a price of $250 and closer to $8.58 assuming a price of bitcoin at $200. In order to realize $15 of gross revenue you would need to assume the price of bitcoin is ~$350. Based on 3 Kw per hour of use of this device, you would use 72 KwH per day which works out to $6.48 based on $0.09 per KwH. I am not sure what your point is. The SP20 is an older model miner alright, and what's wrong with what I said? let's say 10 USD per day = revenue ...OK, I m generous and I am saying 20 USD per day. How much does it cost the hardware? How long does it take to recover the investment? The hardware must be changed yearly or even earlier than that. Another hardware = other money. So, how is it possible to mine these days?
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(legal, usg gov stamped) fractional reserve btc, here we go...
you forgot IRS.
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according to the new update from Egopay, it was a real hack and they will cover the loss...
the only ones who can say that are those who have money in it....
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If all that can be proven is that he was running Silk Road then the major concern is that he was really nothing more then a forum operator. Although he was marketing his forum to people trading illegal drugs he should not be held responsible for what was sold on it
He made huge amounts of money from the drug selling business going on on his "forum" on his watch. He was in it for the $$$ - get rich quick. He just made the site, so fb owner should get sued for creating network where people set up drug deals easily also? IF the FB users are making drug dealings, only those users will go to jail. Why? Because FB is a a social networking website that makes for you to connect and share with your family and friends online. It was not created for selling drugs, IDs SilkRoad = black market. it was written on their website Shopping by category : Cannabis, Ecstasy,Opioids,Benzos and many others
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This sounds really bad. As far as I know, he is buying and selling bitcoins face to face, he is not running an exchange and money laundering? I hope these are pumped up charges to get him to pay his evaded taxes unlicensed money transmitting business ... a digital currency exchange business ... transmission of funds that were known to the defendant to have been derived from a criminal offense and were intended to be used to promote and support unlawful activity Let's remember that Coinbase, Kraken do not have financial license until now. Maybe they will have "tomorrow". It doesn't matter, they do not have it NOW. They are on market since years ago ! I am wondering why they are still free The law should be for everybody, right? According to the law, they operate money transmitter businesses. US Gov seized 2 MIL from Mt Gox for that, they put in jail the Bitinstant's owner for 2 years. Same thing "Unlicensed Money Transmitter"
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First 2 links don't prove anything as unique addresses are always in flux and don't represent all the off the chain transactions. Last link contradicts what you stated and is an article dated back in Feb 2014. Coinbase follows KYC(2.2 million wallets and 1.9 million unique users) and users almost all exclusively in the US. This is why I didn't add up coinbase + circle+ blockchain+ ect.... My 4-5 million estimate is extremely conservative. Realistically, there are probably 7-8 unique million users now worldwide. Are you suggesting Coinbase is lying about those unique users? Do you really think those 37 VC companies didn't do their due diligence before investing 106 million in coinbase? I doubt that it's x 4 more BTC real users since a year ago. Remember that MTGox failed in 2014 and China banned Bitcoin and many BTC users gone. around of 150K unique address used = it doesn't even mean real users. someone can send BTC to himself (from one account to another). I am suggesting that Coinbase has shareholders that 99% from the BTC community blamed a while ago. Also, I am suggesting that those "sharks" are not investing without thinking to profit. Let's remember that many these "investors" own +80% from BTC. They own Bitstamp, BTC China, Coinbase
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