Chase bank not feeling comfortable

[goxed]

http://www.youtube.com/watch?v=JGEppgLna8U&feature=youtu.be

[proudhon]

tl;dr - People are starting to use less regulated non-government backed means of exchange, we're scurred, and somebody should do something about it.

[stevegee58]

http://www.youtube.com/watch?v=JGEppgLna8U&feature=youtu.be

A combination of FUD propaganda and an infomercial for Lookingglass.  The presenters didn't mention the distributed nature of the BTC network at all.  In fact they seemed to imply that BTC=MtGox, a total fallacy.

It's interesting that every mainstream reaction I've seen to BTC is that it's nothing but a tool of criminal activity.

[cypherdoc]

Sponsored by the Council on Foreign Relations.  That's all you need to know.

[Cryptoman]

This is total bullshit.  Let's get a few definitions out of the way first.

Money laundering: any time you spend or transfer money without the ability for everyone to observe and record your identity and the full details of the transaction.
Illicit activity: what everyone does, every day.  There are so many laws on the books that everyone is a criminal, even the little old lady from Pasadena.

They are really stretching logic to try to make a few points.  They are trying to implicate MtGox in "illicit" activity just because their hosting provider happens to possibly host other sites which may engage in "illicit" activity.  Correlation does not equal causation.  Does anyone know if MtGox is even hosted out of Miami? 

Then they try to impress everyone with some sort of undisclosed algorithm/technology that they use to identify "hot spots" of "illicit" activity.  We're supposed to be impressed with these anuses because of their affiliation and their high-budget forum?  Like Holliday said, they are only afraid of allowing people the ability to engage in private, voluntary exchange.  Wasn't that the manner of all personal exchange 100 years ago?

[cypherdoc]

to the OP:  it's JP Morgan Chase, not Chase Bank.

the difference is non-trivial.  the infamous fair haired boy of Wall St, Jamie Dimon, runs JPM (the former investment bank blessed with US taxpayer backing); you know the bank that employed the famous London Whale, Bruno Iksil, who just happened to run up a multi billion dollar derivative bet to the tune of the just revealed $6B LOSS that they initially deceived the world to be just $2B under the nose of Jamie Dimon who said, "i'm sorry, i knew nothing about it  "  see, these guys make BILLIONS in bonuses for doing just what exactly?  not knowing what is going on but claiming great leadership justifying huge bonuses when things go right but no responsibility when things go wrong?

[cypherdoc]

This is total bullshit.  Let's get a few definitions out of the way first.

Money laundering: any time you spend or transfer money without the ability for everyone to observe and record your identity and the full details of the transaction.
Illicit activity: what everyone does, every day.  There are so many laws on the books that everyone is a criminal, even the little old lady from Pasadena.

They are really stretching logic to try to make a few points.  They are trying to implicate MtGox in "illicit" activity just because their hosting provider happens to possibly host other sites which may engage in "illicit" activity.  Correlation does not equal causation.  Does anyone know if MtGox is even hosted out of Miami?  

Then they try to impress everyone with some sort of undisclosed algorithm/technology that they use to identify "hot spots" of "illicit" activity.  We're supposed to be impressed with these anuses because of their affiliation and their high-budget forum?  Like Holliday said, they are only afraid of allowing people the ability to engage in private, voluntary exchange.  Wasn't that the manner of all personal exchange 100 years ago?

basically the logic these 2 guys give is this:

"we've identified a virtual currency we don't like.  most of the tx's go thru 5 service providers we've identified.  we've identified the majority of the tx's they process with our proprietary software that has "tagged" them as affiliated with organized crime and money laundering.  you know, the type y'all don't want to be associated with.  never mind how the software determines this.  trust us, you don't like it.  if you want to apply pressure to Bitcoin, stomp on these 5 sites."

turns to the CFR and says "now pay us our fee".

[knight22]

Sponsored by the Council on Foreign Relations.  That's all you need to know.

Good to know

[sadpandatech]

The particular server that mtgox.com is in Hollywood, FL

"The server IP Address is 72.52.5.67 and Mtgox.com resides on Prolexic Technologies in Hollywood, FL, United States."

Which is just outside of Ft. Lauderdale.

http://en.utrace.de/ip-address/72.52.5.67

I did nto watch the video yet. Did they use the hosted location as part of their spin?

[cypherdoc]

The particular server that mtgox.com is in Hollywood, FL

"The server IP Address is 72.52.5.67 and Mtgox.com resides on Prolexic Technologies in Hollywood, FL, United States."

Which is just outside of Ft. Lauderdale.

http://en.utrace.de/ip-address/72.52.5.67

I did nto watch the video yet. Did they use the hosted location as part of their spin?

the guy said it was in "Miami".  you should watch it yourself and tell us what you think.

[sadpandatech]

The particular server that mtgox.com is in Hollywood, FL

"The server IP Address is 72.52.5.67 and Mtgox.com resides on Prolexic Technologies in Hollywood, FL, United States."

Which is just outside of Ft. Lauderdale.

http://en.utrace.de/ip-address/72.52.5.67

I did nto watch the video yet. Did they use the hosted location as part of their spin?

the guy said it was in "Miami".  you should watch it yourself and tell us what you think.

watching now, noticed this comment; He is correct;  http://en.utrace.de/?query=visa.ca
I'm impressed at how he's complaining at 2:29 that MtGox is hosted as a "den of criminal activity". From my computer the IP address for mtgox.com is 72.52.5.81, while the IP address of visa.ca is 72.52.5.150... They're just both hosted by Prolexic, a very well known anti-DDoS specialist.


from Prolexic's website;
Home » Company » Contact Us

Contact Us
Worldwide headquarters
Hollywood, Florida USA

[cypherdoc]

The particular server that mtgox.com is in Hollywood, FL

"The server IP Address is 72.52.5.67 and Mtgox.com resides on Prolexic Technologies in Hollywood, FL, United States."

Which is just outside of Ft. Lauderdale.

http://en.utrace.de/ip-address/72.52.5.67

I did nto watch the video yet. Did they use the hosted location as part of their spin?

the guy said it was in "Miami".  you should watch it yourself and tell us what you think.

watching now, noticed this comment; He is correct;  http://en.utrace.de/?query=visa.ca
I'm impressed at how he's complaining at 2:29 that MtGox is hosted as a "den of criminal activity". From my computer the IP address for mtgox.com is 72.52.5.81, while the IP address of visa.ca is 72.52.5.150... They're just both hosted by Prolexic, a very well known anti-DDoS specialist.


from Prolexic's website;
Home » Company » Contact Us

Contact Us
Worldwide headquarters
Hollywood, Florida USA

the question that came to my mind is can Looking Glass associate traffic btwn Silk Road and mtgox?

excluding Silk Road, how can they say Bitcoin is tied to other "criminal activity"?

[sadpandatech]

the question that came to my mind is can Looking Glass associate traffic btwn Silk Road and mtgox?

That's an interesting question. I am fof to spend some time with the family. I'ma dox this LG and their software this evening.


I'm miffed that 'security threat assessment of CHASE' and their buddies new software company could do any kind of finger pointing about AML......

You'd go blind if one were to do any sort of research on various banks and all the ML they have been busted with. One would assume for every one they get busted for, some number must go unknown as well..


JERKS! ;p

[cypherdoc]

You'd go blind if one were to do any sort of research on various banks and all the ML they have been busted with. One would assume for every one they get busted for, some number must go unknown as well..

bingo

[Gabi]

which allows customers to start to track and understand all of the threats and activities related to their issues and concerns on the Internet. Sean Tierney is director of threat intelligence

Wow, "threat"

"threat" for who? 

Ridicolous.

[Gabi]

Are we sure mtgox can't sue them for all the idiocies they said?

[cypherdoc]

Are we sure mtgox can't sue them for all the idiocies they said?

now that's an interesting thought that hadn't even crossed my brainwashed mind.

[mobile4ever]

The particular server that mtgox.com is in Hollywood, FL

"The server IP Address is 72.52.5.67 and Mtgox.com resides on Prolexic Technologies in Hollywood, FL, United States."

Which is just outside of Ft. Lauderdale.

http://en.utrace.de/ip-address/72.52.5.67

I did nto watch the video yet. Did they use the hosted location as part of their spin?

the guy said it was in "Miami".  you should watch it yourself and tell us what you think.

watching now, noticed this comment; He is correct;  http://en.utrace.de/?query=visa.ca
I'm impressed at how he's complaining at 2:29 that MtGox is hosted as a "den of criminal activity". From my computer the IP address for mtgox.com is 72.52.5.81, while the IP address of visa.ca is 72.52.5.150... They're just both hosted by Prolexic, a very well known anti-DDoS specialist.


from Prolexic's website;
Home » Company » Contact Us

Contact Us
Worldwide headquarters
Hollywood, Florida USA

You got it right, they are based in Hollywood FL. Not in California.

[niko]

Are we sure mtgox can't sue them for all the idiocies they said?

now that's an interesting thought that hadn't even crossed my brainwashed mind.

Yes. Less preaching to he choir, more practical ideas and action items (kudos to Gabi).

[BCB]

Just read the executive summery of senate report on HSBC

http://www.hsgac.senate.gov/download/report-us-vulnerabilities-to-money-laundering-drugs-and-terrorist-financing-hsbc-case-history

If this is what the established banksters are allowed to get away with then bitcoin has nothing to worry about.