Great new youtube documentary about btctalk member Jimmy Zhong (mb300sd)

[AHOYBRAUSE]

I didn't know this story about an ex bitcointalk member mb300sd, I guess plenty or at least some of you do.
Thats him -> https://bitcointalk.org/index.php?action=profile;u=36986

But for those who don't I can only advise you to watch this: https://www.youtube.com/watch?v=pxvd1YOMGxU . This video is just a month old and shows the impressive story of Jimmy Zhong, an early bitcoin adapter that made billions and everything got taken from him in court. Also he stole a lot of coins from silk road   .

It's also a great video about bitcoin in general, as well as security while mixing and so on. Everybody that uses or is interested in bitcoin it's an interesting watch I think.

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[Hatchy]

This is such an interesting story related to Bitcoin! The documentary lasts for a full 30 minutes and surprises me with how clever Jimmy is. I feel sorry for him because the government took advantage of him and confiscated all his coins, leaving him with nothing. His biggest mistake was not being cautious. He also committed a crime by looting large amount of Bitcoin from the silkroad company though. For everyone, his story will serve as an example for those who think they can get away with illegal activities any continue to hide under the sun. Let's not forget, as the saying goes, "Many days for the thief, but one day for the owner." Let's all stay away from illegal cyber activities.

[Z-tight]

This video is just a month old and shows the impressive story of Jimmy Zhong, an early bitcoin adapter that made billions and everything got taken from him in court. Also he stole a lot of coins from silk road  .

The funds were confiscated by the U.S. government because it was stolen funds connected to the silk road, i think it is a fair end to the case involving James Zhong and how he stole from the silk road, according to the reports, even the creator of the silk road was pleased with what James Zhong had done, and even sent him more BTC's, i guess stealing from an illegal organization may not be so bad . James Zhong had all his stolen BTC's confiscated, however, he was sentenced to only a year and a day in prison for the crime.

[Faisal2202]

This is such an interesting story related to Bitcoin! The documentary lasts for a full 30 minutes and surprises me with how clever Jimmy is. I feel sorry for him because the government took advantage of him and confiscated all his coins, leaving him with nothing. His biggest mistake was not being cautious. He also committed a crime by looting large amount of Bitcoin from the silkroad company though. For everyone, his story will serve as an example for those who think they can get away with illegal activities any continue to hide under the sun. Let's not forget, as the saying goes, "Many days for the thief, but one day for the owner." Let's all stay away from illegal cyber activities.

I am surprised you watched the whole video, as i don't have the time but i have added it in watch later list, so before sleeping i will watch it, From what i assumed by reading your post is, he with the help of Silk road owner (as owner award him with BTC) looted Silk road money (BTC). The story is a lot to digest here as the bonding between Zhong and Silk's owner was unexpected.

James Zhong had all his stolen BTC's confiscated, however, he was sentenced to only a year and a day in prison for the crime.

I think the sentence was lesser as it might be a possibility that Zhong had not used any of those BTC yet?

[AHOYBRAUSE]

This is such an interesting story related to Bitcoin! The documentary lasts for a full 30 minutes and surprises me with how clever Jimmy is. I feel sorry for him because the government took advantage of him and confiscated all his coins, leaving him with nothing. His biggest mistake was not being cautious. He also committed a crime by looting large amount of Bitcoin from the silkroad company though. For everyone, his story will serve as an example for those who think they can get away with illegal activities any continue to hide under the sun. Let's not forget, as the saying goes, "Many days for the thief, but one day for the owner." Let's all stay away from illegal cyber activities.

I am surprised you watched the whole video, as i don't have the time but i have added it in watch later list, so before sleeping i will watch it, From what i assumed by reading your post is, he with the help of Silk road owner (as owner award him with BTC) looted Silk road money (BTC). The story is a lot to digest here as the bonding between Zhong and Silk's owner was unexpected.

James Zhong had all his stolen BTC's confiscated, however, he was sentenced to only a year and a day in prison for the crime.

I think the sentence was lesser as it might be a possibility that Zhong had not used any of those BTC yet?

You better just watch it, you assumption is quite wrong.
He found an exploit on Silk Road's withdrawal page and stole quite some btc. In the end, maybe because he felt bad, he shared it and was approached by the SR owner to tell him what the exploit was.
As a thank you the owner even sent him some more btc. 

[Faisal2202]

You better just watch it, you assumption is quite wrong.
He found an exploit on Silk Road's withdrawal page and stole quite some btc. In the end, maybe because he felt bad, he shared it and was approached by the SR owner to tell him what the exploit was.
As a thank you the owner even sent him some more btc. 

Oh ok! well you already shared the spoiler of the movie so i think i have no reason to watch it now hehe. And i think it would be a first person who is thanking you for the spoiler. hehe. But again thanks for the correction, Actually the headphone hack of my laptop is not working so i have to watch the video on my phone. (I don't have BT headphones so).

[so98nn]

That’s a terrific end for the James. I can’t believe the days where I am living my life with billions of dollars in my bank account or by other means and then on another fine day court just confiscated my funds and made me road side Romeo. That’s really bad management of the funds. He can’t even steal properly. 

I think this is why they what goes around comes around. It is better to earn less money rather than be greedy and thus steal the money in the process. It can be very harmful for the future. One way or other you will see the truth hitting you very hard no matter what.

He was early adopter, he could have just stayed loyal with the Bitcoins he had in the early days and still be a billionaire or at least multi millionaire with no juries actions on his head.

Greed nothing else.

[nutildah]

I didn't know this story about an ex bitcointalk member mb300sd, I guess plenty or at least some of you do.
Thats him -> https://bitcointalk.org/index.php?action=profile;u=36986

I didn't know about that part but it almost seems certain it was him. I don't think that connection had been made before -- at least not that I saw. Maybe it was in a court document but nobody talked about it. One compelling reason why its likely him is the account name (mb300sd) is associated with an email address tied to his real name:



The other is that he was at one point talking to himself in the Wall Observer thread  

I may regret this in the morning, as it will cause some people to want to trade against me, but I feel that I need to put it out there. Bitcoin TA is heavily manipulated at the moment, by at least 2 parties. Be careful out there.

I think hes drunk like me

One thing's for sure, he was an entertaining guy. Cheers to Jimmy Z.

[DapanasFruit]

Bullied as he was, Jimmy Zhong should have been one of the few powerful figures in the world and market of cryptocurrency has he aligned with people like CZ and Buterin. He got the talent and the potential but he was tempted to go a path that is not so desirable though of course, we in the crypto industry can view his story to be worthy of admiration. I am hoping that Jimmy can be given a second chance opportunity to prove his worth and be contributing a lot in our industry.

[Dictator69]

I didn't know this story about an ex bitcointalk member mb300sd, I guess plenty or at least some of you do.
Thats him -> https://bitcointalk.org/index.php?action=profile;u=36986

But for those who don't I can only advise you to watch this: https://www.youtube.com/watch?v=pxvd1YOMGxU . This video is just a month old and shows the impressive story of Jimmy Zhong, an early bitcoin adapter that made billions and everything got taken from him in court. Also he stole a lot of coins from silk road   .

It's also a great video about bitcoin in general, as well as security while mixing and so on. Everybody that uses or is interested in bitcoin it's an interesting watch I think.

The punishment is still bearable at least, but the life of this person must be disturbed. At least the life of the OP's lived ones. I hope newbies like me would not become a part of such scams. I just wrote a post where a person was judging newbie but i am laughing how a legendary members of this platform fell for amount. Means, the consequences were right in front of the Zhong but he still chose the wrong way. We can not judge people on the basis of their ranks here.

A newbie might have a golden heart (values the reputation of BTC) while a legendary might not have. That's uniqueness of this platform really make it interesting though.

[ImThour]

Holy moly, this was so interesting. Great video and everything is in place, didn't knew people here were deeply into the Silk road and stuff. I hope most of you are here for the technology haha.
The fact he made so much money and could stay low key and enjoy it is so good. I am sure, if we buy today and wait for 10 years, we can accumulate good wealth too.

Keep hustling everyone!

[Kakmakr]

It is one thing to steal loads of coins and thinking that you can hide forever, but Jimmy Zhong found this out the hard way. The illegal gains will give you joy for a little while, until the hand of the law catch up to you.

I work hard to earn my "coins" and I can sleep like a baby.... but people like Jimmy Zhong sleep with one eye open. He constantly worried about the law catching up to him.... and it eventually happened. 

[nutildah]

It is one thing to steal loads of coins and thinking that you can hide forever, but Jimmy Zhong found this out the hard way. The illegal gains will give you joy for a little while, until the hand of the law catch up to you.

I work hard to earn my "coins" and I can sleep like a baby.... but people like Jimmy Zhong sleep with one eye open. He constantly worried about the law catching up to him.... and it eventually happened. 

This is true... Honestly he shoulda moved somewhere far away a long time ago & did P2P BTC exchanges, always moving on to somewhere else after a while... would have had a much better chance of making it for the long-haul.

There's some famous instances of retired darknet market admins that never got busted, even though they made their fortune in BTC which as we all know is quite traceable. A moderator for one such market who made millions from AlphaBay said he moved to South America, for example.

In the end, hubris got the best of 'ol Jimmy Z. Same thing with Alexandre Cazes, AlphaBay admin, who lived a lavish lifestyle in Bangkok. Ross Ulbricht, not so much, though it just goes to show running a multi-million-dollar criminal empire and living in America usually never works out.

[Z-tight]

I work hard to earn my "coins" and I can sleep like a baby.... but people like Jimmy Zhong sleep with one eye open. He constantly worried about the law catching up to him.... and it eventually happened. 

Jimmy wasn't a scammer or anything like that, at least that is how i see it. He found a bug in the Silk road's withdrawal system and he exploited it to get himself a lot of BTC's, take note that the Silk road itself was an illegal organization, so it is not like Jimmy was a scammer or hacker who used malwares to steal BTC from people.

I just wrote a post where a person was judging newbie but i am laughing how a legendary members of this platform fell for amount. Means, the consequences were right in front of the Zhong but he still chose the wrong way. We can not judge people on the basis of their ranks here.
~~~
A newbie might have a golden heart (values the reputation of BTC) while a legendary might not have. That's uniqueness of this platform really make it interesting though.

I don't know if you read the story of James Zhong well, but whatsoever you are saying here about forum ranks has no relationship with the story.

[hatshepsut93]

Bullied as he was, Jimmy Zhong should have been one of the few powerful figures in the world and market of cryptocurrency has he aligned with people like CZ and Buterin. He got the talent and the potential but he was tempted to go a path that is not so desirable though of course, we in the crypto industry can view his story to be worthy of admiration. I am hoping that Jimmy can be given a second chance opportunity to prove his worth and be contributing a lot in our industry.

What talent? He got lucky he found a very stupid bug that allowed him to steal 40k coins. I don't see how he can contribute to the industry. Maybe create a shitcoin and dump it on noobs?

Jimmy wasn't a scammer or anything like that, at least that is how i see it. He found a bug in the Silk road's withdrawal system and he exploited it to get himself a lot of BTC's, take note that the Silk road itself was an illegal organization, so it is not like Jimmy was a scammer or hacker who used malwares to steal BTC from people.

Using exploits is what hacking is. He absolutely stole those money from Silk Road. But it's interesting that the US government decided that it owns all Silk Road money retrospectively, and it prosecuted Jimmy even though Silk Road wasn't going to chase him. Maybe Jimmy could have defended himself at court better, but it seems like he decided to take the deal and only spend 1 year in prison, as opposed to risking many more years if he'd lose his case.

[LogitechMouse]

It is one thing to steal loads of coins and thinking that you can hide forever, but Jimmy Zhong found this out the hard way. The illegal gains will give you joy for a little while, until the hand of the law catch up to you.

I work hard to earn my "coins" and I can sleep like a baby.... but people like Jimmy Zhong sleep with one eye open. He constantly worried about the law catching up to him.... and it eventually happened. 

I guess him having a huge amount of Bitcoins lead him to making bad mistakes that caused the alarm to the IRS, and the authorities. His addiction, his obsession with girls really got him bad.
I just watched the documentary, and I think the turning point of his life was when somebody robbed his brief case because of Zhong wanting to impress girls so he showed a case full of money.

Anyway, that's the problem when you didn't get the coins "legally". He maximized that bug to stole Bitcoins, that lead him to more addictions, more desire to women, but less cautious on his decisions. At least the good thing is his sentence was only 1 year, and 1 day. Now he's working as an Uber Driver, so I guess he's trying to change his life already, but he's a programmer so why not use his skill to work for other company. Hmmm kind of curious.

[AHOYBRAUSE]

It is one thing to steal loads of coins and thinking that you can hide forever, but Jimmy Zhong found this out the hard way. The illegal gains will give you joy for a little while, until the hand of the law catch up to you.

I work hard to earn my "coins" and I can sleep like a baby.... but people like Jimmy Zhong sleep with one eye open. He constantly worried about the law catching up to him.... and it eventually happened. 

What illegal gains?
The coins he got from silk road were never touched, he stored them forever until finally he decided to move them and got caught. If he ever used them before he would have been caught much earlier.

All the money he made was from legitimate funds, that's why it was so ridiculous the IRS/FBI and whoever took all he ever owned, they basically stole all his money.

He did work hard to achieve what he did.

[tread93]

This video is just a month old and shows the impressive story of Jimmy Zhong, an early bitcoin adapter that made billions and everything got taken from him in court. Also he stole a lot of coins from silk road  .

The funds were confiscated by the U.S. government because it was stolen funds connected to the silk road, i think it is a fair end to the case involving James Zhong and how he stole from the silk road, according to the reports, even the creator of the silk road was pleased with what James Zhong had done, and even sent him more BTC's, i guess stealing from an illegal organization may not be so bad . James Zhong had all his stolen BTC's confiscated, however, he was sentenced to only a year and a day in prison for the crime.

Wow that's practically nothing but a slap on the wrist I'd say, all things considered. A clever eh maybe not so clever lad haha. The government got a nice payout that day.

[Sim_card]

I feel sorry for him because the government took advantage of him and confiscated all his coins, leaving him with nothing. His biggest mistake was not being cautious. He also committed a crime by looting large amount of Bitcoin from the silkroad company though.

I don't think you are to feel sorry for him because he committed a crime and was caught. This should be a hard lesson for him that you whatever you do can't be hidden under the sun. I wish he got those bitcoin genuinely, the government wouldn't have any problem with him and by now he would have been a multi millionaire bitcoin investor. Quite surprising that this forum has a member like him and I really wish he is still a member now.

[sesterceshop]

Awesome documentary. It's pretty sad that all he really wanted was social acceptance. And even sadder that he lost all those Bitcoins. Damn. I wonder how many other crypto millionaires and billionaires that we have in this forum