2012-09-27 ibtimes.co.uk - Bitcoin Savings and Trust Facing SEC Investigation Ov

[julz]

Bitcoin Savings and Trust Facing SEC Investigation Over 'Ponzi Scheme'

Alistair Charlton
2012-09-27


http://www.ibtimes.co.uk/articles/388782/20120927/bitcoin-savings-trust-sec-investigation-pirate-ponzi.htm

...
Founded in 2008, and with honourable intentions from its creators and many users, the BitCoin currency is almost immune to money-laundering and hard to track, making it ideal for users looking to make illegal purchases online.
...
Bitcoin Savings and Trust has now caught the SEC's attention, according to Willard Foxton at the Telegraph, who claims to have seen an email sent by SEC investigator Philip Moustakis to many of those who invested in Pirate's scheme
...

"the BitCoin currency is almost immune to money-laundering"  perhaps he meant almost ideal for money-laundering? ...or almost immune to money-laundering laws?

...the SEC investigation will no doubt lower the value of Bitcoins and possibly scare investors away from the currency altogether.

no doubt eh?   If only predicting the market were as simple as this guy assumes.

[Stephen Gornick]

...the SEC investigation will no doubt lower the value of Bitcoins and possibly scare investors away from the currency altogether.

no doubt eh?   If only predicting the market were as simple as this guy assumes.

There was an article or maybe it was the BBC broadcast, I forget, with the statement that the BitFloor hack might be the reason there was some confidence lost and the reason the exchange rate took a tumble.   Had to chuckle, because this is the exchange rate since the BitFloor hack:



 - http://bitcoincharts.com/charts/mtgoxUSD#rg60zczsg2012-09-01zeg2012-09-28ztgSzm1g10zm2g25

[FreeMoney]

...the SEC investigation will no doubt lower the value of Bitcoins and possibly scare investors away from the currency altogether.

no doubt eh?   If only predicting the market were as simple as this guy assumes.

There was an article or maybe it was the BBC broadcast, I forget, with the statement that the BitFloor hack might be the reason there was some confidence lost and the reason the exchange rate took a tumble.   Had to chuckle, because this is the exchange rate since the BitFloor hack:



 - http://bitcoincharts.com/charts/mtgoxUSD#rg60zczsg2012-09-01zeg2012-09-28ztgSzm1g10zm2g25

Yes, the future is hard to predict, but some people have trouble predicting the past too.

[kiba]

Yes, the future is hard to predict, but some people have trouble predicting the past too.

It's called assuming that bitcoin economy respond to every minute positive and negative news.

[Dusty]

Yes, the future is hard to predict, but some people have trouble predicting the past too.

I LOLled hard