Looks like the feds are trying to get their way into stopping BTC.

[phazon307]

http://money.cnn.com/2014/01/27/technology/security/bitcoin-arrest/index.html?hpt=hp_t2

[Holliday]

That's some conclusion to draw from one dude being arrested for (allegedly) breaking the law.

[phazon307]

Not really when you think about it because they are arresting him on suspicion that he was exchanging money for bitcoins, based on because he was doing it for people that was using silk road. And either you didn't read the story or your super man that can read a whole page in like 3 seconds then come back here and respond because you responded awfully quick to the time I started this thread.

[Holliday]

Not really when you think about it because they are arresting him on suspicion that he was exchanging money for bitcoins, based on because he was doing it for people that was using silk road. And either you didn't read the story or your super man that can read a whole page in like 3 seconds then come back here and respond because you responded awfully quick to the time I started this thread.

The story has been out for like half a day man! There are multiple threads in multiple subforums. Didn't you bother to search before you created a new thread on the same topic?

Here is the 27 page complaint, which I've had ample time to read.

http://www.justice.gov/usao/nys/pressreleases/January14/SchremFaiellaChargesPR/Faiella,%20Robert%20M.%20and%20Charlie%20Shrem%20Complaint.pdf

[lordfirefox]

I've noticed that this sort of thing happens anytime Bitcoin touches $1000 on any of the exchanges. And then this sort of thing happens and the whole thing goes to shit and drops to below $1K prices. One or twice I would say it's a coinicedence but it's happened more than that now, about 5 times I think. I think it's more obvious now that the bankers want a war with us.

Part of me still wants to say it's a coincedence but part of me knows it's not.

[terrapinflyer]

Not really when you think about it because they are arresting him on suspicion that he was exchanging money for bitcoins, based on because he was doing it for people that was using silk road. And either you didn't read the story or your super man that can read a whole page in like 3 seconds then come back here and respond because you responded awfully quick to the time I started this thread.

Or maybe he read the story from one of the other 3000000000 threads that contain the same info between here and reddit. This story has nothing to do with the FED trying to stop Bitcoin, it is about them trying to stop money laundering. They didnt even mention Bitinstant in the arrest warrant which means that they are looking at Shrem and not Bitcoin. Stop spamming this crap and trying to push your agenda to create panic about something that does not really impact our community in the slightest way. Bitcoin does not equal silk road.

[KJO]

Not really when you think about it because they are arresting him on suspicion that he was exchanging money for bitcoins, based on because he was doing it for people that was using silk road. And either you didn't read the story or your super man that can read a whole page in like 3 seconds then come back here and respond because you responded awfully quick to the time I started this thread.

Or maybe he read the story from one of the other 3000000000 threads that contain the same info between here and reddit. This story has nothing to do with the FED trying to stop Bitcoin, it is about them trying to stop money laundering. They didnt even mention Bitinstant in the arrest warrant which means that they are looking at Shrem and not Bitcoin. Stop spamming this crap and trying to push your agenda to create panic about something that does not really impact our community in the slightest way. Bitcoin does not equal silk road.

Yay! Good to see another Terp in BTC.

BTW, nice job crushing his FUD, lol.

[phazon307]

That guy probably works for the fed he was quick to defend it.

[yalojohn]

According to the complaint filing (and the pursuant sections of the Code of Federal Regulations), Shrem and Faiella are charged (more or less; there's a bit more legalese involved, but this is the basic gist) with being persons who accepted and transmited "currency, funds, or other value that substitutes for currency from one person ... to another location or person by any means" (31CFR§1010.100(ff)(5)) and failing to "register with FinCEN" (31CFR§1022.380(a)).

I think I broke these laws, too, when I traded homebrews with a friend.

[snakebit]

That guy probably works for the fed he was quick to defend it.

It might be best for you to discontinue reading the .gov propaganda arm known as CNN. CNN will always defend the FED and the status quo and will spread FUD on anything that might disrupt it.

[yalojohn]

Ah shit... I forgot the really good bit of vague legalese about being "wherever located doing business, whether or not on a regular basis" (CFR§1010.100(ff)).

So don't think you can just trade stamps once and not break the law!

[theonewhowaskazu]

Ah shit... I forgot the really good bit of vague legalese about being "wherever located doing business, whether or not on a regular basis" (CFR§1010.100(ff)).

So don't think you can just trade stamps once and not break the law!

Could you please explain what the heck this is supposed to mean?

[chaolang]

May be this news make bitcoin price drop by $50 ?

[cryptoanarchist]

It's all theater. Shrem admitted on this forum that he was a Rothschild - not exactly a poor family. Its the kind of lazy psychological warfare that works on a lot of retards.

Be scared...they're coming to get you next!!

[yalojohn]

Could you please explain what the heck this is supposed to mean?

Part of the definition of being a "money transmitter" that allows the Justice Department to claim jurisdiction.

On another note, after carefully re-reading, they did indeed register with FinCEN, but failed to file Suspicious Activity Reports on themselves.

[cryptoanarchist]

Could you please explain what the heck this is supposed to mean?

Part of the definition of being a "money transmitter" that allows the Justice Department to claim jurisdiction.

On another note, after carefully re-reading, they did indeed register with FinCEN, but failed to file Suspicious Activity Reports on themselves.

So they willingly contracted with FinCEN, which explains what this is about. Definitely all theater.

[BTCisthefuture]

Thankfully the feds ARE NOT trying to stop bitcoin.  I don't know about other countries but in America the government has actually become more and more open about bitcoin and willing to let it expand and grow so long as there are some basic regulations around it.  That's the current status anyways.

Sherm getting arrested is certainly a black eye for the bitcoin community,  a community that many nay sayers already said was only "for drugs and money laundering"  so it should have a impact on the exchange rate of bitcoin in the short term  , long term though everything should be fine. Just a simple case of a guy breaking the law and getting caught.

[just_me]

The ones that refuse to see this for what it is, are pathetic.

He wasn't just operating an exchange, if that's all he was doing he would be just fine.

Shrem was laundering money in the millions for a drug operation via Bitcoin and his exchange.

If you will read the complaint, the evidence is compelling.

This is not an attack on Bitcoin as badly as the fringe few would like to portray it.

The guy got caught red handed and unfortunately represents Bitcoin as a whole.

He needs to go asap.


~BCX~

Hope those guys are ok. The treatment of prisoners needs to be improved sometimes.
It can be quite an ordeal for people.
Pray for those guys.

[keithers]

I have no doubt that the gov't and the fed is trying to deter people from investing and using bitcoins by a smear campaign via the press and media outlets, but i don't think the price hitting $1000 on any of the exchanges has anything to do with it..

[Honeypot]

Government is trying to regulate it. If this guy participated in drug trade or money laundering, he's toast.

Just like the internet, crypto will be reigned in one way or another.

Deal wit it


Or spend all your days bitching and moaning on the internet about how you are singlehandedly going to be the punisher and the judge of all like a bunch of overgrown 15 somethings with a mouth.