Looking for donations to help poor Pirate@40 defend himself against the SEC.

[QuestionAuthority]

http://www.secvshavers.com/blog.html

Would YOU donate money to help the Bastard of Bitcoin?

Here's the hook they are using to scare you into donating:

​The case the SEC is bringing forward – if won- would establish a very dangerous precedent that says anyone exchanging bitcoin could be SELLING SECURITIES, thus subject to SEC regulation, SEC scrutiny, SEC investigation, and SEC legal action. This would include peer-to-peer bitcoin exchanging, all trades at Shotoshi Square in NYC, miners selling bitcoin, basically anyone that touches bitcoin and later trades or sells it would be under the scrutiny of the SEC. If you’re not registered with the SEC – or if you have engaged in these types of activities in the past without being registered - you could be fined tens of thousands of dollars per transaction, or worse, jail.

Do you believe the hook?

[1713482854]

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[1713482854]

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[CEG5952]

"anyone exchanging bitcoin could be SELLING SECURITIES" -- Isn't the only reason the SEC is involved that it was a ponzi scheme? He was selling shares/securities, not bitcoin.

[QuestionAuthority]

"anyone exchanging bitcoin could be SELLING SECURITIES" -- Isn't the only reason the SEC is involved that it was a ponzi scheme? He was selling shares/securities, not bitcoin.

That's true, it was a Ponzi scheme but his attorney may present the idea that Bitcoin itself acts as a security.

[CEG5952]

"anyone exchanging bitcoin could be SELLING SECURITIES" -- Isn't the only reason the SEC is involved that it was a ponzi scheme? He was selling shares/securities, not bitcoin.

That's true, it was a Ponzi scheme but his attorney may present the idea that Bitcoin itself acts as a security.

I am pretty sure the definition of "security" means that it is backed by some kind of asset (by contract). Bitcoin isn't backed by anything, certainly not legally. That's a pretty far stretch to make, IMO.

[Justine]

Government around the world is out of control.

Who give them the right to interfere with 2 voluntary parties conducting transaction?

[beetcoin]

"anyone exchanging bitcoin could be SELLING SECURITIES" -- Isn't the only reason the SEC is involved that it was a ponzi scheme? He was selling shares/securities, not bitcoin.

That's true, it was a Ponzi scheme but his attorney may present the idea that Bitcoin itself acts as a security.

so you're saying this guy was running a ponzi scheme and you want us to donate to defend him?

[QuestionAuthority]

"anyone exchanging bitcoin could be SELLING SECURITIES" -- Isn't the only reason the SEC is involved that it was a ponzi scheme? He was selling shares/securities, not bitcoin.

That's true, it was a Ponzi scheme but his attorney may present the idea that Bitcoin itself acts as a security.

so you're saying this guy was running a ponzi scheme and you want us to donate to defend him?

When did I say that? I want to know if you'd fall for it and donate because his attorney is trying to scare you.

[leezay]

The early investor from his scheme do make a lot of money.

[Ron~Popeil]

Wow. This guy really has no shame. I would consider a donation to the prosecution but they collect that before I even see my pay check each week. 

[DrG]

If not Karma then the SEC.... or maybe Death himself... yes that will do.

Dead or alive you're coming with me.

I can't imagine anybody wanting to donate to his defense fund. 

[Este Nuno]

I'm pretty sure this is a scam and not set up by Trendon's lawyer.

Not that I would ever donate to such a silly cause of course.

But people should be cautious.

[QuestionAuthority]

I'm pretty sure this is a scam and not set up by Trendon's lawyer.

Not that I would ever donate to such a silly cause of course.

But people should be cautious.

Nope, it's real. I called the firm and verified it.

[dank]

"anyone exchanging bitcoin could be SELLING SECURITIES" -- Isn't the only reason the SEC is involved that it was a ponzi scheme? He was selling shares/securities, not bitcoin.

That's true, it was a Ponzi scheme but his attorney may present the idea that Bitcoin itself acts as a security.

so you're saying this guy was running a ponzi scheme and you want us to donate to defend him?

But the government can run the biggest ponzi scheme there is?

[abacus]

Do you believe the hook?

His attempt is simply pathetic.

I hope that everybody know that... scammers gonna scam.

[Maidak]

I can't believe there is a donation page for him why not use all the BTC he stole ?

[Bitsaurus]

Stupid is as stupid does

[Este Nuno]

I can't believe there is a donation page for him why not use all the BTC he stole ?

Because he failed to actually end up with very much at all, funnily enough. Out of 200k btc that he should have had he only ended up with 150k USD. ~$0.75 a coin.