Page 5 of 135 FirstFirst 1234567891555105 ... LastLast
Results 81 to 100 of 2699

Thread: Bitcoins are officially donkdown

  1. #81
    Quote Originally Posted by sonatine View Post
    Apparently individual accounts are now being seized as of this morning.
    Individual accounts where?

  2. #82
    Banned
    Reputation
    -302
    Join Date
    Mar 2013
    Location
    east coast
    Posts
    2,178
    Quote Originally Posted by cmoney View Post
    Quote Originally Posted by sonatine View Post
    Apparently individual accounts are now being seized as of this morning.
    Individual accounts where?
    Would think Dwolla accounts associated with the Mt. Gox Wells Fargo business account for Mutum Sigillum LLC...

    To be honest, I won some free coins over at SWC and sold twice recently. Once via a GDMP to someone on seals, no problems, than yesterday opened a Coinbase.com account, sent the chips from SWC over to Coinbase, and than sold for PayPal via a site called Fastcash4bitcoins.

    All within a matter of 12 hours. It was all so very easy. Time from sending off seals to landing in my PayPal account was less than 12 hours total. So it really is very easy to get your cash from SWC chips.

    Although I do agree with you, in terms of how the people running seals go, that is dealing with a whole different animal.

     
    Comments
      
      4BET: post less

  3. #83
    Nova Scotia's REAL #1 Webcam DJ sonatine's Avatar
    Reputation
    2714
    Join Date
    Mar 2012
    Posts
    13,451
    Quote Originally Posted by cmoney View Post
    Quote Originally Posted by sonatine View Post
    Apparently individual accounts are now being seized as of this morning.
    Individual accounts where?

    Im looking for more details, was a very brief post, not sure if it was Dwolla accounts being seized or Dwolla being used to find bank accounts and seize them.
    "Birds born in a cage think flying is an illness." - Alejandro Jodorowski

    "America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs

  4. #84
    Quote Originally Posted by cmoney View Post
    Quote Originally Posted by anonamoose View Post

    That's exactly what I am saying, but it's suicide for a poker company like Pokerstars to do that with the crazy fluctuations and huge volatility of BTC.

    As a side note, you don't appear to really understand what IS illegal with operating an online poker site in the US and what ISN'T illegal. You've clearly demonstrated that by believing you just had a valid point.

    Like I said, I can play online poker on Zynga and BUY, as in with USD, poker chips. Why is that?
    Per your logic, Poker stars or some other processor can setup pcoins.com and sell Pcoins for US dollars or any other currency. Lets say for every 1 Pcoin it cost 2 usd which you can easily purchase using your credit card from pcoins.com. Pokerstars then allows Pcoins to be used on their site. The players simply use their Pcoin wallets to fund pokerstars.com knowing that every Pcoin is worth 2 usd.

    You cant possibly think my crude example above would fly, but why is this any different than using bitcoins to play on Seals?

    IMO Seals could potentially be breaking more laws than FTP or Pokerstars ever did just on a much lower scale.

    I have NO idea how Zynga works, but I am assuming even though you can buy chips for usd, you can not cash them out for USD. Is that correct?
    That's correct, but again, on SWC you're not cashing out USD, you're cashing out BTC.

    The pcoin example again is where everyone is failing on this. BTC isn't something you just buy, BTC is something that is mined. It's little pieces of computer code that is generated and solved.

    It's like saying I posted several notepad files online that was encrypted that says "Hello World" and said whoever can solve the encryption on this first it's officially yours. Then someone decided to gamble with them.

    There's nothing there, it's just a file on a computer on a server somewhere in the world.

  5. #85
    Contributor PLOL's Avatar
    Reputation
    425
    Join Date
    Mar 2012
    Location
    Contributor
    Posts
    3,091
    Quote Originally Posted by sonatine View Post
    Quote Originally Posted by cmoney View Post

    Individual accounts where?

    Im looking for more details, was a very brief post, not sure if it was Dwolla accounts being seized or Dwolla being used to find bank accounts and seize them.
    Would like more info on this. On a whim on 5/12 I deposited $1,500 in to my Dwolla account for the first time. It was expected to clear on 5/15, but then on 5/15 the expected clearing date got pushed back. The money still has not been taken out of my Wells Fargo account and on Dwolla it now says "Expected clearing date: 5/20/2013 5:00 PM CST". Maybe I should call up Wells Fargo and ask them to make sure it doesn't get processed?
    Premium content: https://twitter.com/kidwithdream

    Don't blame me. I wrote in Harambe

  6. #86
    Contributor chinamaniac's Avatar
    Reputation
    573
    Join Date
    Mar 2012
    Location
    On a Plane
    Posts
    6,105
    Blog Entries
    2
    Quote Originally Posted by PLOL View Post
    Quote Originally Posted by sonatine View Post


    Im looking for more details, was a very brief post, not sure if it was Dwolla accounts being seized or Dwolla being used to find bank accounts and seize them.
    Would like more info on this. On a whim on 5/12 I deposited $1,500 in to my Dwolla account for the first time. It was expected to clear on 5/15, but then on 5/15 the expected clearing date got pushed back. The money still has not been taken out of my Wells Fargo account and on Dwolla it now says "Expected clearing date: 5/20/2013 5:00 PM CST". Maybe I should call up Wells Fargo and ask them to make sure it doesn't get processed?
    follow me on twitter @chinamaniac
    https://twitter.com/chinamaniac

  7. #87
    Quote Originally Posted by anonamoose View Post
    Quote Originally Posted by cmoney View Post

    Per your logic, Poker stars or some other processor can setup pcoins.com and sell Pcoins for US dollars or any other currency. Lets say for every 1 Pcoin it cost 2 usd which you can easily purchase using your credit card from pcoins.com. Pokerstars then allows Pcoins to be used on their site. The players simply use their Pcoin wallets to fund pokerstars.com knowing that every Pcoin is worth 2 usd.

    You cant possibly think my crude example above would fly, but why is this any different than using bitcoins to play on Seals?

    IMO Seals could potentially be breaking more laws than FTP or Pokerstars ever did just on a much lower scale.

    I have NO idea how Zynga works, but I am assuming even though you can buy chips for usd, you can not cash them out for USD. Is that correct?
    That's correct, but again, on SWC you're not cashing out USD, you're cashing out BTC.

    The pcoin example again is where everyone is failing on this. BTC isn't something you just buy, BTC is something that is mined. It's little pieces of computer code that is generated and solved.

    It's like saying I posted several notepad files online that was encrypted that says "Hello World" and said whoever can solve the encryption on this first it's officially yours. Then someone decided to gamble with them.

    There's nothing there, it's just a file on a computer on a server somewhere in the world.
    Right, and in my example you are cashing out pcoins and not usd. You then take your pcoins to an "exchange" and get usd or whatever currency you want for them. Same as you would do for bitcoins.

    I dont understand why since it is "mined" and is a piece of code that makes any difference. What if you gave pcoins a value based on silver prices then would it be ok? Silver like bitcoins is not a government approved currency (unless the Silver is put into US treasury approved coin form) .

    So now PokerStars takes pcoins backed by silver (which is a lot more stable than bitcoins) so can we now allow the US players back onto the site? The players can simply take their pcoins to an exchange and trade their pcoins for usd based on silver prices.

    There is a reason why we dont have bank accounts in the US backed by gold/silver bullion even though there is a demand for it. The US government wont allow it. The US governments hates alternative currencies and will use every law they can find to stop it.

    The DOJ works much like the IRS in that they seize and then ask questions later (even if they are wrong). I think it is incredibly naive to think that Micon has nothing to worry about.

  8. #88
    Member
    Reputation
    -110
    Join Date
    May 2013
    Location
    Lake Meade
    Posts
    413
    [QUOTE=cmoney;150119][QUOTE=anonamoose;150110]


    The DOJ works much like the IRS in that they seize and then ask questions later (even if they are wrong). I think it is incredibly naive to think that Micon has nothing to worry about.[/sQUOTE]

    The DOJ get 100% the scam. This whole .EU and Bitcoins is absolutely laughable. You have a guy basically breaking the law and throwing it in the face of the DOJ. They have thrown people in jail for online poker and said don't do it again. Some people learn the hard way. You just can't openly break the law and flaunt it and expect you will not have a knock at the door.

  9. #89
    NoFraud Poker Room Manager Belly Buster's Avatar
    Reputation
    713
    Join Date
    Mar 2012
    Location
    England
    Posts
    2,451
    I suspect SWC is in the clear. The government will clamp down on the exchanges that allow the BTC<->USD conversions.

    The pcoins example would be the same, Pokerstars could do this, but if they also covert pcoins to USD, that would be a problem.
    Quote Originally Posted by Brittney Griner's Clit View Post
    This one is so gay even for your standards, even with the low low bar you have set at the tip of onesteps dick.
    Quote Originally Posted by Gene Hunt
    NoFraud Online Poker Room: http://nofraud.pokerfraudalert.com:8087. For password resets and reload requests PM me.

  10. #90
    Quote Originally Posted by cmoney View Post
    Quote Originally Posted by anonamoose View Post

    That's correct, but again, on SWC you're not cashing out USD, you're cashing out BTC.

    The pcoin example again is where everyone is failing on this. BTC isn't something you just buy, BTC is something that is mined. It's little pieces of computer code that is generated and solved.

    It's like saying I posted several notepad files online that was encrypted that says "Hello World" and said whoever can solve the encryption on this first it's officially yours. Then someone decided to gamble with them.

    There's nothing there, it's just a file on a computer on a server somewhere in the world.
    Right, and in my example you are cashing out pcoins and not usd. You then take your pcoins to an "exchange" and get usd or whatever currency you want for them. Same as you would do for bitcoins.

    I dont understand why since it is "mined" and is a piece of code that makes any difference. What if you gave pcoins a value based on silver prices then would it be ok? Silver like bitcoins is not a government approved currency (unless the Silver is put into US treasury approved coin form) .

    So now PokerStars takes pcoins backed by silver (which is a lot more stable than bitcoins) so can we now allow the US players back onto the site? The players can simply take their pcoins to an exchange and trade their pcoins for usd based on silver prices.

    There is a reason why we dont have bank accounts in the US backed by gold/silver bullion even though there is a demand for it. The US government wont allow it. The US governments hates alternative currencies and will use every law they can find to stop it.

    The DOJ works much like the IRS in that they seize and then ask questions later (even if they are wrong). I think it is incredibly naive to think that Micon has nothing to worry about.
    You're assuming too much here.

    First, your pcoin example is way off, because you can ONLY PURCHASE them. This is 100% different than BTC. You're comparing apples to airplanes.

    Second, you're assuming that people are purchasing the BTC with USD, you don't know that and can't prove that. For all you know all these people have mined all the BTC entirely for free. Go ahead show me a transaction for USD with any of the BTC on SWC. You can't. You can trace what addresses send BTC to where, but you will not find anything that dictates those BTC are ever traded for USD or any other currency.

    Third, again you're comparing two things, gold and silver, to BTC. These are entirely different things.

    You're drawing too many comparisons that aren't relevant and assuming way too many things that aren't there.

  11. #91
    Quote Originally Posted by sonatine View Post
    Apparently individual accounts are now being seized as of this morning.
    Liar Liar pants on fire.

  12. #92
    Contributor Rollo Tomasi's Avatar
    Reputation
    -83
    Join Date
    Mar 2012
    Location
    Gulfstream Park
    Posts
    2,817
    Quote Originally Posted by bottomset_69 View Post
    Quote Originally Posted by Rollo Tomasi View Post



    Quote Originally Posted by lewfather View Post
    200k liquid = the top of the world? I didn't realize this was the 1920's again.


    Quote Originally Posted by chinamaniac View Post
    Gotta give credit to Micon for finding some stuff that would blow up and being in the right place at the right time with them. Golden Tee blew up a bit but there was really no money there. He scored big with NWP but fucked that up pretty badly. E cigs could blow up one day but unless you are running a shop or a own a company really no money there.

    Bitcoins have been big for SWC only because the cashouts for U.S. players is less than desirable but again right place right time for Micon and he deserves credit for that considering all of the shit he has taken of the years. Hopefully he learned from all of his mistakes trying to be a poker professional and holds on to this money. It could potentially set him for a while but if he keeps firing 20k prop bets ya never know what could happen
    even a blind squirrel finds a nut once in a while



    Quote Originally Posted by Crowe Diddly View Post
    Quote Originally Posted by Sandwich View Post

    So you don't believe that Micon is just the "Team Pro Chairman" at SWC, eh?

    Mao Zedong was the Chairman of the Central Committee of the Communist Party of China. No Chinaman ever called that guy just the Chairman.
    Crowe Diddly wins no need for a Rep system

    Quote Originally Posted by bottomset_69 View Post
    Quote Originally Posted by anonamoose View Post

    Yes.

    I will also leave your inability to remember passwords out for now.
    It's tough to be the smartest guy around here.
    You do realize you are this biggest faggot on this site?

     
    Comments
      
      4BET: kill yourself
    Quote Originally Posted by tony bagadonuts View Post

    Look Corrigan, you've been a sideshow clown around here from the jump
    It's tough to take you seriously when you've made your bones acting the fool.
    Quote Originally Posted by Brittney Griner's Clit View Post
    Which one is he?

  13. #93
    Quote Originally Posted by sonatine View Post
    Quote Originally Posted by cmoney View Post

    Individual accounts where?

    Im looking for more details, was a very brief post, not sure if it was Dwolla accounts being seized or Dwolla being used to find bank accounts and seize them.
    I hope that's a bit of a stretch. I stopped using dwolla when they started "verifying" accounts by requiring among other things as i recall ssn's. There has been $15 sitting in my account forever. I couldn't imagine how they could go after the thousands in my bank account. If they did, it would be blatant tyranny by our gov't. What did I do aside from buying a few btc's? If they did, I'd be one of the thousands to counter sue 'cause of the money involved. In that scenario, I don't think they'd have enough lawyers to defend their actions.

  14. #94
    Contributor PLOL's Avatar
    Reputation
    425
    Join Date
    Mar 2012
    Location
    Contributor
    Posts
    3,091
    I've been putting in some hours at SWC. I now play exclusively on SWC as MarthaMicon.
    Premium content: https://twitter.com/kidwithdream

    Don't blame me. I wrote in Harambe

  15. #95
    Contributor PLOL's Avatar
    Reputation
    425
    Join Date
    Mar 2012
    Location
    Contributor
    Posts
    3,091
    I could say it's the first time I've pretended to be a female on the internet... but I'm a really bad liar.
    Premium content: https://twitter.com/kidwithdream

    Don't blame me. I wrote in Harambe

  16. #96
    Quote Originally Posted by bottomset_69 View Post
    Quote Originally Posted by chinamaniac View Post
    Gotta give credit to Micon for finding some stuff that would blow up and being in the right place at the right time with them. Golden Tee blew up a bit but there was really no money there. He scored big with NWP but fucked that up pretty badly. E cigs could blow up one day but unless you are running a shop or a own a company really no money there.

    Bitcoins have been big for SWC only because the cashouts for U.S. players is less than desirable but again right place right time for Micon and he deserves credit for that considering all of the shit he has taken of the years. Hopefully he learned from all of his mistakes trying to be a poker professional and holds on to this money. It could potentially set him for a while but if he keeps firing 20k prop bets ya never know what could happen
    It is illegal to run a card game in the US without a license. I get the fact he is ahead of the curve on the latest scheme. But if some wily IRS / DOJ agent wants to put him in jail, he is going and there is nothing he can do about it.
    It's illegal for an American to own or operate a card game anywhere in the world even with a license. Micon is taking a huge risk.
    SOBCHAK SECURITY 213-799-7798

  17. #97
    Quote Originally Posted by anonamoose View Post
    Quote Originally Posted by bottomset_69 View Post

    Are you this obtuse? Of course there are USD involved. You think anyone that plays there is in it for Monopoly money? The Feds have said time and again, do not gamble online. Now I STRONGLY disagree with that stance, people should be able to do what they want with their money as long as they are not hurting anyone else. With that said, its the law and if you rub it in their face they will make an example of you.
    Please good sir. Point me to where USD is involved on SWC.
    Doesn't matter if there are USD involved. There is a currency/cash equivalent involved. Zynga chips can't be exchanged back in for cash. Bitcoins can. SWC is definitely against the law in the US and any of its owner/operator/promoters could get in serious trouble especially if they are Americans.
    SOBCHAK SECURITY 213-799-7798

  18. #98
    Quote Originally Posted by Walter Sobchak View Post
    Quote Originally Posted by bottomset_69 View Post

    It is illegal to run a card game in the US without a license. I get the fact he is ahead of the curve on the latest scheme. But if some wily IRS / DOJ agent wants to put him in jail, he is going and there is nothing he can do about it.
    It's illegal for an American to own or operate a card game anywhere in the world even with a license. Micon is taking a huge risk.
    lol better let Jack Binion know. He ran a lot of card games at that joint he used to own. In other news, bitcoins are up about 10% since this thread was started to declare bitcoins donkdown.

  19. #99
    Quote Originally Posted by anonamoose View Post
    Quote Originally Posted by bottomset_69 View Post

    So what you are saying is Pokerstars can re-engage in the US with Bitcoins? Is that what you are saying? Explain yourself because you look incredibly stupid at the moment. I will leave your ad-hominem out for now.
    Yes.

    I will also leave your inability to remember passwords out for now.
    You're usually a smar poster but you are so completely wrong here. I can't believe I'm saying this but bottomfag is right.

    Bitcoins are a cash equivalent, like casino chips or bearer bonds. Zynga chips and Chucky Cheese tokens are. It cash equivalents because they are not freely convertible to cash even though they can be purchased. For American citizens, operating or owning or sharing in the profits of a gambling site (where people can potentially win cash or cash equivalents) is illegal EVEN if that site does not take US players and EVEN if the site is licensed in some other country. The only exception is owning 5% or less of a public company like 888. I was considering investing in a site but once I did my research I called off the dogs. Micon is living on borrowed time.
    SOBCHAK SECURITY 213-799-7798

  20. #100
    Contributor PLOL's Avatar
    Reputation
    425
    Join Date
    Mar 2012
    Location
    Contributor
    Posts
    3,091
    Quote Originally Posted by Walter Sobchak View Post
    Quote Originally Posted by anonamoose View Post

    Yes.

    I will also leave your inability to remember passwords out for now.
    You're usually a smar poster but you are so completely wrong here. I can't believe I'm saying this but bottomfag is right.

    Bitcoins are a cash equivalent, like casino chips or bearer bonds. Zynga chips and Chucky Cheese tokens are. It cash equivalents because they are not freely convertible to cash even though they can be purchased. For American citizens, operating or owning or sharing in the profits of a gambling site (where people can potentially win cash or cash equivalents) is illegal EVEN if that site does not take US players and EVEN if the site is licensed in some other country. The only exception is owning 5% or less of a public company like 888. I was considering investing in a site but once I did my research I called off the dogs. Micon is living on borrowed time.
    Premium content: https://twitter.com/kidwithdream

    Don't blame me. I wrote in Harambe

Thread Information

Users Browsing this Thread

There are currently 2 users browsing this thread. (0 members and 2 guests)

Similar Threads

  1. DD seemes to be officially DD
    By Hugh Chardon in forum Flying Stupidity
    Replies: 121
    Last Post: 08-13-2014, 03:07 PM
  2. ***My Officially Official Super Bowl Pick***
    By abrown83 in forum Flying Stupidity
    Replies: 4
    Last Post: 02-03-2013, 09:51 PM
  3. Matt Marafiati has officially challenged SrslySirius to a rap battle
    By NaturalBornHustler in forum Flying Stupidity
    Replies: 41
    Last Post: 11-30-2012, 04:30 PM
  4. IP officially DD
    By Daredevil in forum Flying Stupidity
    Replies: 6
    Last Post: 11-23-2012, 04:24 PM
  5. I officially hate Dana White now
    By shortbuspoker in forum Flying Stupidity
    Replies: 36
    Last Post: 06-05-2012, 05:57 PM

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •