Major western Bitcoin exchanges about to be investigated and probably SHUTDOWN

[Argwai96]

If any exchanges are found to have connection the price will rally like mad because bitcoin withdrawals are the fastest means of getting out of the exchange.

But won't the price only rally like mad on (for ex) the one exchange that is being investigated/found to have a connection? And only if it happens before it gets shut down? Like Gox!!

[windjc]

If any exchanges are found to have connection the price will rally like mad because bitcoin withdrawals are the fastest means of getting out of the exchange.

The whole thread is retarded mentally handicapped.

First of all, we will know well in advance if Bitstamp or Bitfinex were under investigation. There are so many reasons why, I'm not going to waste my time typing about it.

Second, the FBI doesn't have the influence to get international banks to do anything. The US Gov. does, but that's not who is investigating Silk Road. The US Gov. is only concerned with money laundering and compliance, which both of these exchanges have.

Fonzie needs to go get high and leave the rest of us alone.

[Malin Keshar]

1- people sell, and price rise. Makes sense
2 - BITSTAMP is europe based, so a bit outside FBI jurisdiction(next time say INTERPOL, ONU, or something impressive and international)
3 - $20 gap between btc-e and bitstamp are normal before the chinese baning drama, nothing different. When they are equal or btc-e bigger, something is happening

[xDan]

All this means is the US gov wants info on transactions, to match with SR people. The exchanges will happily divulge this info, and life will go on.

The only people negatively affected will be those who were using SR and these exchanges without taking proper anonymity provisions.

stop with the FUD pleeease 

[Asrael999]

Would explain why Stamp have got so aggressive on questioning where coins and fiat come from originally.
And a person long cash giving up on getting fiat out of stamp and not wanting to answer these questions might be tempted to buy coins , transfer them out to another exchange that either isn't being investigated or doesn't give a monkeys (say in China, or Russia ) and sell them, then post on the news in order to drive the price down again

[Its About Sharing]

Some Points:
Over 1600 views and only 35 people took part in the poll.
The Poll conveniently lists the highest price at a Fonzie generated $250. Not really a poll eh?
Fonzie has a history of Fear mongering.
Investigations would be apparent in a few ways and at that point people would buy btc as it is easy to move btc than USD.

There is some very large money getting involved in Bitcoin, so if the powers that don't be want to take it down, they should do it yesterday.

Recent news in favor of Bitcoin:
The FED is now involved in Money Laundering through EU countries to quell the bond bleeding.  http://www.paulcraigroberts.org/2014/05/12/fed-great-deceiver-paul-craig-roberts/
Silver Fixing to end this August: http://www.theglobeandmail.com/report-on-business/international-business/european-business/historic-silver-fix-bites-the-dust-as-banks-pull-out/article18655682/
Russia and China to do oil trading in Non USD's, 100's of Billions http://www.zerohedge.com/news/2014-05-20/china-signs-non-dollar-settlement-deal-russias-largest-bank
Deutsche Bank trying to raise 8 billion. Hey, we already no they are illiquid http://uk.reuters.com/article/2014/05/18/us-deutsche-bank-newissue-idUKKBN0DY0IM20140518

So, regarding this thread:



But always good to stay on your toes.
Its about sharing

[meanig]

There's always the possibility that a bank account can be frozen at any time for spurious reasons. That's the exact reason why people should get into Bitcoin.

[JimboToronto]

Sorry Fonzie. Your trolling is getting old fast.

[jofus]

SO does anyone who actually knows what they're talking about have the list of US based exchanges?

Posted by: jofus

The US shut down the 3 big poker sites and froze all of their assets.  All of them were based out of countries other than the US.

Then the US didn't shut them down, the country they were based in did. No matter how spooky you seem to think the USG is, they have limits on what they can and cannot do and if this is the FBI investigating LOCAL crimes they can't operate legally outside this country. If the gambling operation had a bank in the us, then their assets could be frozen. But if they did not, then the US did not freeze a damn thing.

If the WEBSITE ISP HOST was based in the US then the US would have jurisdiction over the isp or hosting company...not the company running the gambling site. At absolute most they could just force the site down, and the company who owns the site moves to other servers in other locations and back up and running. The business didn't get shut down. Because the US has no authority to do that anywhere but the US (FBI, which is interstate, not a global enforcer).

http://www.youtube.com/watch?v=z-P2aBoOuRY

Well they did.



Also quick question while I can get this post through, I keep getting a message that my IP had posted a message less than 360 seconds ago so try again later, even though I only made 1 post yesterday and this is my second today.  Even when I tried posting the first one yesterday it said this and I had to keep trying until it got through about 10 minutes later.

[kireinaha]

I like Fonzie's old style of FUD, but posting this in a bull market feels desperate. I think he's jumped the shark on this one.

[ChrisML]

Fonzie is desperate for some cock up his arse.

Sorry, gotta look for that in the FUD jail.

Goodluck with your amazing cuntilicious delicious FUD spreading while we are in a Bull Market right now.

Cheers.

[uhoh]

Fonzie is desperate for some cock up his arse.

Sorry, gotta look for that in the FUD jail.

Goodluck with your amazing cuntilicious delicious FUD spreading while we are in a Bull Market right now.

Cheers.

He's visiting FUD jail

[Benjig]

Doesn’t it stand to reason that the federal government should also be under investigation since some criminal enterprises use the money they create exclusively? The bitcoin currency isn’t doing anything wrong on its own, if shady people do shady things with it, how is that the exchanges’ fault? This is guilt by involuntary association.

[Argwai96]

Doesn’t it stand to reason that the federal government should also be under investigation since some criminal enterprises use the money they create exclusively? The bitcoin currency isn’t doing anything wrong on its own, if shady people do shady things with it, how is that the exchanges’ fault? This is guilt by involuntary association.

Yeah but thats kinda how it goes when dealing with governments and especially USG. They put the burden on people and companies to prove innocence and disassociate themselves from criminals, rather than proving criminal wrongdoing themselves.

[sgbett]

tl;dr

What's that fonzie? *munches pizza* sorry, I'm easily distracted by using my bitcoin to buy stuff from all these places that are starting to accept it. Im sure whatever it is sounds terrible. You should definitely give up on BTC now and never post here again. *burp*

One day I'll probably look back and chuckle at just how much this 0.068BTC pizza cost me. I doubt it will ever be ~$5m that the original BTC pizzas cost. Funny thing is, if it did, I'm sure you would still be here posting about how your pet goldfish was outlawing the use of BTC in the confines of its tank, and how this could cause it to go to zero.

[hloren70]

Thank goodness for the secretive BTC-e! If some of these exchanges do get shuttered, BTC-e, localbitcoins and other alternatives will spring up. Just like when a torrent site gets taken down 

[wasserman99]

Even Mt Gox never got shut down. More likely situation imo - major exchange like BFX or Stamp pulls a Gox and loses massive amounts of user BTC in a hack....

[ChetnotAtkins]

you mean 'hack' of course

[RodeoX]

Where is the option for the price to go up? If an exchange is shut down for scamming that is a good thing for the economy.

[serenitys]

The self detonating client comment was awesome. A true LOL moment, so thanks.

Not sure what to think of the Fonz here but his posts have always been most entertaining, troll or not...

The ones abusing the system will be weeded out but instead of assuming the government is a giant singular all powerful beast who can control the world (it sooo cannot), as long as people step back, act rationally, and let them handle legitimate investigations then nobody needs to worry about shut downs. There is a difference between the ones running Gox and the ones running Bitstamp and the others.

Again, though, if you don't trust the exchanges then don't do business with them. If they get shut down, it's not because a government agency with the power to do so just acted like an asshole to flex...there are still rights and laws that if they break can bite them in the ass in appeals and loss and backlash where all they did amounted to just stirring up shit awhile and then the system resets itself and makes it even harder for government intrusion.

If you understand the "disruption" part of the bitcoin principle then you shouldn't worry much about what governments can and cannot do because the fact it's already becoming globally accepted means the old school ways of government doing things are coming to an end. There is no other outcome. They're not going down without a fight but they are, inevitably, going down at the final bell.

Here's the best strategy...give them room to do what they do, let them feel good about their power fantasy, and don't cave to the flexing. They'll feel all smug like they really do call the shots and before they know it, the mainstream public will be buying and investing in bitcoin as the alternative...and when that time comes, it's all over but the squawking for governments and bankers thinking they control anything...if they flex then, they lose because in a flash instant people would shift from local/national currency to bitcoin causing theirs to lose value...which would bankrupt the whole lot of them.

We just need to let things alone and cooperate long enough to get to mass adoption...or even half adoption...the other half will jump in or go down with the ship.

But weeding out the system abusers is good for everyone - bitcoin and governments and society alike.