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Author Topic: We will find out if the "No press is bad press" saying is true with latest news  (Read 1186 times)
BitChick (OP)
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July 24, 2013, 05:19:29 AM
 #1

With all of the news hype around the SEC cracking down on the ponzi scheme by Pirateat40 in Texas, I guess we will find out if the "No press is bad press" saying is true.  It seems to be getting a good amount of coverage.  There are articles on the Wall Street Journal, New York Times, and PC World to name a few.  Will this be positive in the end?  I hate seeing Bitcoin in the same sentence as Ponzi scheme though.  Sigh.  I guess time will tell.  

Will this still be helpful for getting people to investigate Bitcoin?

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Mike Christ
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July 24, 2013, 05:41:56 AM
 #2

All press is good press.  Stuff like this happened with "regular" currency all the time, and Bitcoin is no different.  Scammers will be scammers, regardless of their medium.

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July 24, 2013, 05:44:26 AM
 #3

Bitcoin is subject to anything that ultimately can happen with any type of currency. Ponzi schemes are nothing new to society and being able to hurdle these obstacles early on with bitcoin will allow us to create new ways to help combat things like this in the future.

BTC is still in an early stage and will continue to bob its head up and down in the mainstream ocean for a while. This is a huge step in the right direction for btc and all the users who have had to deal with the "tough luck" stage in the past. We have now broken out of that and are seeing actions being taken to people who try to take advantage of others. A great day if you ask me.
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July 24, 2013, 02:57:09 PM
 #4

I'm interested to see when the first "Bitcoin seizure is impotent" style story emerges, you'd think that Pirate would be technically adept enough to have put some ill gotten gains into a brain wallet.

Also, is it at all confirmed that "Trendon Shavers" really is pirateat40? My immediate reaction (when it was exposed a scam) was that Trendon Shavers was either an outright joke name or a real person whose name pirate thought sounded like some kind of pirate-play-on-words, and used his identity as a decoy. It was a fairly elaborate con, despite what the smug 20/20 hindsight-ers say (although I did think it sounded dubious at the time, but didn't join the debate, not sure I was even signed up to bitcointalk).

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July 24, 2013, 03:50:58 PM
 #5

This is the best news I have heard in a long time regarding bitcoin.

The government basically said bitcoin is valuable and is a currency The feds wouldn't be cracking down on someone running a ponzi scheme with monopoly money.

they basically just admitted that it's a valid currency.







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July 24, 2013, 03:54:30 PM
 #6

Probably good press!

When people read he got 700000 bitcoins and at that time, 2011 or 2012, it was worth like 4 or 5 mil and now it is worth like 70 mil, I think people will want to give another look at bitcoin.

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July 24, 2013, 04:15:49 PM
 #7

I think it won't have that much of an effect.

People that dislike Bitcoin already "know" that it's a ponzi. And regarding awareness there has already been plenty of coverage on Bitcoin.

A positive stimulus would be acceptance by a major retailer so people are seeing potential for every day use.


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July 24, 2013, 04:33:01 PM
 #8

There is no one answer to this.  Some will become interested and lookup bitcoins and learn for themselves.  Some will automatically assume all btc is a scam.  Some will ect. ect.

Overall its a good thing.  Regardless more people will become interested.
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July 24, 2013, 05:55:08 PM
 #9

This is the best news I have heard in a long time regarding bitcoin.

The government basically said bitcoin is valuable and is a currency The feds wouldn't be cracking down on someone running a ponzi scheme with monopoly money.

they basically just admitted that it's a valid currency.







Maybe the Feds invested in BTCST?  Cheesy

BitChick (OP)
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July 24, 2013, 10:01:03 PM
 #10

Probably good press!

When people read he got 700000 bitcoins and at that time, 2011 or 2012, it was worth like 4 or 5 mil and now it is worth like 70 mil, I think people will want to give another look at bitcoin.

That was what I was thinking.  It does not seem to have affected the price today but who knows.  It is still some more press. 

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