Hi gang, Curious. How would Old Boy collect his private keys rightfully owed to him?  oh hi dumbfck, you can collect his key on his behalf. Plug an ethernet cable right in your anal and run bitcoin core 10.1.1 LOL. I think he's more entitled to it than you think. Imagine the Bitcoin core developers renigging on that whole trust matter. Poor Old Boy not even allowed to the private keys that they have in their possession. Would ruin the entire concept of Bitcoin wouldn't it? He is the inventor after all. The Bitcoin core developers don't have his private keys. That's not how Bitcoin works. |
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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! |
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I don't understand how he was singled out by the Feds. Either the transactions were for very large amounts, or he had ties to Silk Road possibly.
There was a time Burt and some other guys made lots of coins with loans and other stuff. Looks like big brother now wants his share... The same could happen to others out there. Their names are known. The forum definitely needs a 'delete all posts' button for an account though. You never know who might be the next target. That won't save you. There are plenty of copies of forums posts across the internet and theymos + others have plenty of db backups, and as we seen with Ross Ulbricht, they can be subpoena'd to hand over data from those backups. That's pointless anyway. If you're doing something illegal and you get caught it's most likely not because you posted about it. It's because you were doing something illegal and were caught doing it. They may use your posts to back up their case but that's just a sidebar to getting caught. The moral of the story is to stop breaking the fucking law. If you can't make yourself stop breaking the law where you are then move to someplace where the laws are different. I feel sorry for his kid (I'm assuming that's his daughter in the photo). How awful to have one of your parents in jail. What could she possibly say to her friends at school when she's asked, where's your dad? Very sad. Problem is the law can be interpreted in many ways, it isn't black or white nor does it usually coincide with morality. I don't think Burt knowingly did anything morally wrong, though I don't know the full story yet, so far we've only heard half of the prosecutors side of the story and nothing from Burt's. |
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I don't understand how he was singled out by the Feds. Either the transactions were for very large amounts, or he had ties to Silk Road possibly.
There was a time Burt and some other guys made lots of coins with loans and other stuff. Looks like big brother now wants his share... The same could happen to others out there. Their names are known. The forum definitely needs a 'delete all posts' button for an account though. You never know who might be the next target. That won't save you. There are plenty of copies of forums posts across the internet and theymos + others have plenty of db backups, and as we seen with Ross Ulbricht, they can be subpoena'd to hand over data from those backups. |
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Let's not forget that the banks in Greece were "insured" too. While it's a nice thing to have, don't rely on "insurance" to save your ass when everything goes wrong. And don't forget that this "insurance" protects coinbase from hacks, but if you are hacked you are not covered. Actually owning your Bitcoin by keeping it in a private key you own is much safer than having an IOU from coinbase.
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The latest stable version of bitcoind (0.9.3) only lets you check the balance of addresses in your wallet. This is a limitation due to the way the database works. If you want to check the balance of addresses not in your wallet (such as bitcoin addresses that are stored offline), you need to use a separate database, I'd recommend looking into bitcoin-abe.
The newest version of bitcoind (0.10) has the ability to add watch-only addresses to your wallet, though this release is still being tested and not really recommended for a production environment right now.
You could use a SPV wallet such as electrum to do address lookups. SPV wallets still do lookups over the main Bitcoin network, however there is less privacy when using one (the nodes may be able to figure out your addresses).
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Exactly. Negative feedback is if you think someone is a scammer, or that they are likely to scam. Negative feedback is not for "Use caution when trusting this user's judgement".
You say that, yet you left nubbins this negative trust: "Leaves inaccurate trust ratings (eg Bitspill), asbuses the trust system. " |
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Good luck with your escrow! Good to see another person providing the service! Try to suggest in Marcotheminer's thread.  You are only eacrowing Bitcoin in cryptocurrency and other things such as Bitcointalk account or just Bitcoin? ~~MZ~~ Thanks! I don't escrow altcoins, just Bitcoin. And I will escrow bitcointalk.org accounts too. |
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If you don't own a multi-million-dollar datacenter, don't waste your time mining.
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Just one thing. Creating this thread as "self moderated". Is not exactly gonna help you - after all - self moderated=censorship for the most people.
I turned it on to keep the thread clean as I plan on using this same thread for as long as I'm doing this and self-moderation is useful against trolls. If people feel they are being censored by me, they can create their own thread. |
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Good luck with your escrow service! btw didn't you have a boxxy avatar before?
Thanks! btw didn't you have a boxxy avatar before?
Yep. I accidentally removed it and now avatars are disabled  |
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Try opening a new bank account nowadays. They'll ask you a LOT more questions than they used to. |
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"The essential principle of totalitarianism is to make laws that are impossible to obey." -- Christopher Hitchens
So you're saying it's impossible to avoid trading bitcoins without a license? I sincerely hope you're joking. To sum it up it's illegal to sell Bitcoins as a business without a money transmitter license. Selling your own personal Bitcoins with a small fee is probably OK, but if you're selling Bitcoins for someone else, or you're selling very large amounts, then you're probably a business, but I'm not a lawyer or an expert in this kinda thing. |
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I'm not so sure. If you were sitting at that round table, wouldn't you ask how he was able to pay those kind of returns? I asked him a few times in threads here way before that meeting. I accused him of using the money for drug trade because that's the only business that could promise those kind of returns and not be a complete fraud. I would have been asking that question before I said hello. I think by the time they all met every one of them knew it was a ponzi. I think one of the reasons for the meet up was to keep them in line and moving forward with the plan. That means there are more arrests pending.
Pirateat40 told people he was daytrading, he even crashed the Bitcoin price at one point live on IRC to try and convince people he was earning lots from trading. I honestly think that at least some of the people sitting at that table didn't know what was going on, IIRC some of the PPT owners reported the scheme to the SEC once it was over and their statements were used against pirate in court. In fact, IIRC some of them claim to have lost money due to pirate. The indictment against BurtW doesn't mention anything about a ponzi, passthrus or anything, it says he was selling Bitcoins as a business (not selling his own personal coins or selling significant volumes) without a license and that he sold Bitcoins to a person whom he knew was going to commit illegal activity with them. So I don't think it's related to the PPT's. |
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I've wondered for a long time why LEOs never went after any of the PPTs. Especially the ones that appeared in the Kings court in Las Vegas. Shavers must have known the true identity of the people that met with him in person. Couldn't he trade the info about his accomplices for leniency?
I guess because they didn't "knowingly" participate in a ponzi, as they didn't know it was a ponzi at the time. |
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Argument #1: Ponzi sites are illegalSo are gambling websites that don't have the proper gambling licenses. So are Bitcoin exchanges that do not have the proper money transmitter licenses or AML procedures. So are lenders that don't abide by payday loan laws. So are public performances of the song "Happy birthday to you" which is copyrighted by Warner/Chappell Music. Argument #2: All ponzi sites are a scamIf the ponzi site fulfills their side of the deal and does exactly what they promise and both parties are willingly trading, where did the scam occur? Argument #3: Ponzi's should be banned because they make Bitcoin look "bad"Instead of banning ponzi's, why don't we make things a bit better and form a mining cartel, make a blacklist of bitcoin addresses known to be used by ponzi sites and never confirm any ponzi site payments? The general ethos of Bitcoin is for free market trade and against regulation. How can you actually believe that and at the same time be trying to ban people from using Bitcoin because it makes Bitcoin look bad? Argument #4: Most ponzi sites aren't provably fair so they are scamsThere is probably a way to make ponzi sites provably fair using tx scripts. But if ponzi sites are a scam due to the lack of provably fair, then so are all gambling sites that don't have provably fair, such as poker sites and sportsbook websites. Argument #5: Ponzi's arent entertainmentPeople have different opinions on what entertainment is. It may not be entertaining for you, but I'm sure its entertaining for others. Argument #6: Ponzi's are scams because people will lose moneyThere will always be people who lose money on any gambling website. Otherwise the website would be losing money. Thats all the arguments I can think of right now. |
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