Bitcoin Forum
July 21, 2019, 04:05:42 PM *
News: Latest Bitcoin Core release: 0.18.0 [Torrent] (New!)
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: [2015-06-19] ArsTechnica: After Bitcoin loan goes south, judge rules man must...  (Read 583 times)
pawel7777
Legendary
*
Offline Offline

Activity: 1778
Merit: 1084


We're all gonna make it


View Profile WWW
June 19, 2015, 10:09:59 PM
 #1


After Bitcoin loan goes south, judge rules man must repay over $67,000

http://arstechnica.com/tech-policy/2015/06/after-bitcoin-loan-goes-south-judge-rules-man-must-repay-over-67000/

Quote
A judge in rural Breathitt County, Kentucky (population: 13,878) ruled earlier this month that a local man who received a loan of 11.95 bitcoins in December 2013 must repay it, including interest, for a total amount of over $67,800 (about £42,600).

Back then, when the price of one bitcoin was rapidly rising and trading in the $800-$1,000 range, a Brazilian man named Daniel Kaminski de Souza loaned the bitcoins using a peer-to-peer bitcoin loan site called BTCJam. At the time of the loan, those bitcoins were worth about $10,000 (£6,300).

The borrower, Dennis Kerley, offered a 20 percent return to his lenders within a year. His plan was to use the money to buy bitcoin miners—obviously, it didn't work out. Kerley did not respond to Ars’ attempts to reach him on Thursday evening.
...

▄█████████████████████████▄
███████████████████████████
███████████████▄███████████
██████▀████████████████████
███████████████████████████
▄████▄██████████████▄█████
█████████████████▄██▀███
▀██▄▄███████████████████
████▀██████▄██▄████████████
██▄▄████████████▀██▄██
▀█▀██▀████████████▀████▀

P O K E R
▄▄▄███████▄▄▄
▄█████████████████▄
▄█████████████████████▄
▄██████████▄▄▄██████████▄
▄█████████████████████████▄
████████▄▄▄▀█▀▄▄▄████████
▐███████████████████████████▌
████████▀▀▀▐█▌▀▀▀████████
▀██████████▄███▄██████████▀
▀███████████████████████▀
▀█████████████████████▀
▀█████████████████▀
▀▀▀███████▀▀▀





██████
███▀▀▀
███
███




███
███
███▄▄▄
██████
Bad Beat Jackpot
Multiple Clients
New Software
NLH Tournaments
Krill Rakeback
Run It Twice

██████
▀▀▀███
   ███
   ███




   ███
   ███
▄▄▄███
██████

.♣ Play Now! ♣.
1563725142
Hero Member
*
Offline Offline

Posts: 1563725142

View Profile Personal Message (Offline)

Ignore
1563725142
Reply with quote  #2

1563725142
Report to moderator
1563725142
Hero Member
*
Offline Offline

Posts: 1563725142

View Profile Personal Message (Offline)

Ignore
1563725142
Reply with quote  #2

1563725142
Report to moderator
1563725142
Hero Member
*
Offline Offline

Posts: 1563725142

View Profile Personal Message (Offline)

Ignore
1563725142
Reply with quote  #2

1563725142
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1563725142
Hero Member
*
Offline Offline

Posts: 1563725142

View Profile Personal Message (Offline)

Ignore
1563725142
Reply with quote  #2

1563725142
Report to moderator
unamis76
Legendary
*
Offline Offline

Activity: 1456
Merit: 1001


View Profile
June 19, 2015, 10:21:10 PM
 #2

Good to see that the person who lent the coins is actually going forward with justice... This just goes to show that people who come here to scam aren't inimputable, just because this is "magic internet money"... This is serious business. Unfortunately some people just see this as joke and an opportunity to scam.
pawel7777
Legendary
*
Offline Offline

Activity: 1778
Merit: 1084


We're all gonna make it


View Profile WWW
June 19, 2015, 10:46:23 PM
 #3

Good to see that the person who lent the coins is actually going forward with justice... This just goes to show that people who come here to scam aren't inimputable, just because this is "magic internet money"... This is serious business. Unfortunately some people just see this as joke and an opportunity to scam.

Agree, too many victims choose to do nothing and just give up.

Although in this case, according to lender's lawyer it's uncertain whether he'll get his money back:

Quote
He admitted that it would be difficult to collect the money from the Kentucky man.

“Just because I get a judgement, it’s a piece of paper—I can try to put a lien on his house, take his car, but he has various homestead exemptions,” he added, citing a law in Kentucky and elsewhere that exists to protect homeowners with deceased spouses who owe money to creditors.

▄█████████████████████████▄
███████████████████████████
███████████████▄███████████
██████▀████████████████████
███████████████████████████
▄████▄██████████████▄█████
█████████████████▄██▀███
▀██▄▄███████████████████
████▀██████▄██▄████████████
██▄▄████████████▀██▄██
▀█▀██▀████████████▀████▀

P O K E R
▄▄▄███████▄▄▄
▄█████████████████▄
▄█████████████████████▄
▄██████████▄▄▄██████████▄
▄█████████████████████████▄
████████▄▄▄▀█▀▄▄▄████████
▐███████████████████████████▌
████████▀▀▀▐█▌▀▀▀████████
▀██████████▄███▄██████████▀
▀███████████████████████▀
▀█████████████████████▀
▀█████████████████▀
▀▀▀███████▀▀▀





██████
███▀▀▀
███
███




███
███
███▄▄▄
██████
Bad Beat Jackpot
Multiple Clients
New Software
NLH Tournaments
Krill Rakeback
Run It Twice

██████
▀▀▀███
   ███
   ███




   ███
   ███
▄▄▄███
██████

.♣ Play Now! ♣.
kjlimo
Legendary
*
Offline Offline

Activity: 1876
Merit: 1002


View Profile WWW
June 19, 2015, 11:29:18 PM
 #4

Has there been a judge Judy case involving Bitcoin yet?

Coinbase for selling BTCs or Vircurex for trading alt cryptocurrencies like DOGEs
CoinNinja for exploring the blockchain.
PM me with any questions on these sites!  Happy to help!
whenwhatwherewhyhow
Newbie
*
Offline Offline

Activity: 46
Merit: 0


View Profile
June 20, 2015, 05:17:39 AM
 #5

I must be brain dead or not seeing something right.  That amount of BTC to pay back only costs $2900 right now.
pawel7777
Legendary
*
Offline Offline

Activity: 1778
Merit: 1084


We're all gonna make it


View Profile WWW
June 20, 2015, 08:46:50 AM
 #6

I must be brain dead or not seeing something right.  That amount of BTC to pay back only costs $2900 right now.

The judge must have valued the coins at the rate when the loan was made, or at the time the loan was due. Also included is interest and likely all the legal costs incurred by the lender.

▄█████████████████████████▄
███████████████████████████
███████████████▄███████████
██████▀████████████████████
███████████████████████████
▄████▄██████████████▄█████
█████████████████▄██▀███
▀██▄▄███████████████████
████▀██████▄██▄████████████
██▄▄████████████▀██▄██
▀█▀██▀████████████▀████▀

P O K E R
▄▄▄███████▄▄▄
▄█████████████████▄
▄█████████████████████▄
▄██████████▄▄▄██████████▄
▄█████████████████████████▄
████████▄▄▄▀█▀▄▄▄████████
▐███████████████████████████▌
████████▀▀▀▐█▌▀▀▀████████
▀██████████▄███▄██████████▀
▀███████████████████████▀
▀█████████████████████▀
▀█████████████████▀
▀▀▀███████▀▀▀





██████
███▀▀▀
███
███




███
███
███▄▄▄
██████
Bad Beat Jackpot
Multiple Clients
New Software
NLH Tournaments
Krill Rakeback
Run It Twice

██████
▀▀▀███
   ███
   ███




   ███
   ███
▄▄▄███
██████

.♣ Play Now! ♣.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!