Printable View
Micon actually was one of the first people to call this guy out. He scammed the community for millions of dollars and looked like he was going to get away...Quote:
Originally Posted by simpdog
Micon also had a huge bet with somebody that this guy was a fraud (before scam was revealed) but ironically the person who micon bet with (Matthew N Wright) ended up welching on the bet.
Ok, I was bored so I took a look at the BTC game...
Bitcoin speculators are all amped up. When they should be at their PC's they are visiting the Mercedes dealership.
Bitcoin trading over 100. Nice recovery from 90ish. Folks looking for new price discovery - to infinity & beyond. Instead, I predict a close below 100 today. Makes for a much better story/market.
It would be a far stronger chart if BTC falls & tests 90 once more then retests & breaks 100.
Will Silk Road sales increase from back to school business? That may help the BTC price.
If anybodys daring enough I found a way to bet on the movement of bicoins.. Sign up for an acct on globaltrader365.com and you can place binary option trades based on where you think the price of BTCs are going be it intraday. COB, end of week or end of month.Quote:
Originally Posted by SanlmarOk, I was bored so I took a look at the BTC game...
Bitcoin speculators are all amped up. When they should be at their PC's they are visiting the Mercedes dealership.
Bitcoin trading over 100. Nice recovery from 90ish. Folks looking for new price discovery - to infinity & beyond. Instead, I predict a close below 100 today. Makes for a much better story/market.
It would be a far stronger chart if BTC falls & tests 90 once more then retests & breaks 100.
Will Silk Road sales increase from back to school business? That may help the BTC price.
You can make micro stakes trades. I have never seen a "play money" opportunity on a trading platform (demo account ). Brag fast cash outs. Refer a friend. Nasty rake.Quote:
Originally Posted by ftpjesusIf anybodys daring enough I found a way to bet on the movement of bicoins.. Sign up for an acct on globaltrader365.com and you can place binary option trades based on where you think the price of BTCs are going be it intraday. COB, end of week or end of month.Quote:
Originally Posted by SanlmarOk, I was bored so I took a look at the BTC game...
Bitcoin speculators are all amped up. When they should be at their PC's they are visiting the Mercedes dealership.
Bitcoin trading over 100. Nice recovery from 90ish. Folks looking for new price discovery - to infinity & beyond. Instead, I predict a close below 100 today. Makes for a much better story/market.
It would be a far stronger chart if BTC falls & tests 90 once more then retests & breaks 100.
Will Silk Road sales increase from back to school business? That may help the BTC price.
The similarity to poker model is really interesting. Lol, are you an affiliate or "the chairman"?
Thanks for heads up!
I guess there's an argument that the previous 3 sessions painted a pretty good "cup & handle" trading pattern.
I still say under $100 just for the max anxiety it will cause.
By Miles Klee on July 29, 2013 Email
In a country where Bitcoin is illegal, only criminals will use Bitcoin.
The world’s most popular peer-to-peer electronic currency ran afoul of Thailand’s Foreign Exchange Administration and Policy Department following a presentation on what Bitcoin is and how it works. In light of what representatives from the Bank of Thailand heard there, they’ve ruled the following activities illegal, according to a statement from Thailand’s Bitcoin Co. Ltd.:
Buying Bitcoins
Selling Bitcoins
Buying any goods or services in exchange for Bitcoins
Selling any goods or services for Bitcoins
Sending Bitcoins to anyone located outside of Thailand
Receiving Bitcoins from anyone located outside of Thailand
Bitcoin Co. Ltd.’s response was “to suspend operations until such as time that the laws in Thailand are updated to account for the existance [sic] of Bitcoin.” Previously, the Bank of Thailand “had bypassed the company’s money exchange license on the basis that Bitcoin was not a currency.”
Other countries have also wrestled with how to define, monitor, and regulate virtual currencies. The European Central Bank last year expressed concern over their instability and untraceability, while the U.S. Treasury expanded its anti-money laundering laws to cover Bitcoin.
The price of a Bitcoin in USD has fluctuated somewhat erratically over the past few months, from as high as $266 to as low as $50, in part due to the European sovereign debt crisis. When Bitcoin was riding high, many saw it as a bubble.
The news out of Thailand sparked a lively thread on Reddit, where users debated where Bitcoin went wrong and whether the country (not to mention the rest of the world) would ever be able to adapt to the currency. Pessimism abounded.
For now, anyway, the Thai will have to make do with their official currency—the baht—and old-fashioned bartering. Still, Bahtcoin.com, which describes itself as a “dealer for Bitcoin in Thailand,” appears to be operational for the time being. You can sell your Bitcoins for 2,574.37 baht ($83.24) apiece and buy them for 3,126.54 ($99.89).
No word yet as to how violators of Thailand’s new Bitcoin regulations would be prosecuted or punished, but seeing as the country can inflict the death penalty for crimes like drug trafficking or, yes, even bribery, traders may want to play it safe.
'Bitcoin is a currency': Federal judge says the virtual cash is real money
Devin Coldewey NBC News
GooglePlus
7 hours ago
BTC
Casascius
Physical Bitcoins created by Casascius, a bitcoin enthusiast based in Utah. Each has a unique code that can be used to retrieve a number of Bitcoins online.
Is the "online crypto-currency" Bitcoin money like dollars or is it no more the business of government regulators than virtual gold pieces in an online game? A federal judge may have ended the controversy with an opinion issued in a Bitcoin-related fraud case — and the verdict is: It's money.
The defendant, Texan Trendon Shavers, is accused by the SEC of committing fraud in the form of a Bitcoin-based Ponzi scheme worth millions of dollars in today's Bitcoin market. But Shavers challenged the authority of the U.S. District Court where he was being tried, on the grounds that Bitcoins do not actually meet the definition of money, and therefore could not be the basis for a fraud charge.
In response, Magistrate Judge Amos Maazant of the Eastern District of Texas federal court examined the evidence and concluded otherwise. He explains his sources and reasoning in a remarkably concise and readable memorandum (PDF). Here are the most important bits:
Shavers argues that the BTCST investments are not securities because Bitcoin is not money, and is not part of anything regulated by the United States. Shavers also contends that his transactions were all Bitcoin transactions and that no money ever exchanged hands. The SEC argues that the BTCST investments are both investment contracts and notes, and, thus, are securities.
It is clear that Bitcoin can be used as money. It can be used to purchase goods or services, and as Shavers stated, used to pay for individual living expenses. The only limitation of Bitcoin is that it is limited to those places that accept it as currency. However, it can also be exchanged for conventional currencies, such as the U.S. dollar, Euro, Yen, and Yuan. Therefore, Bitcoin is a currency or form of money, and investors wishing to invest in BTCST provided an investment of money.
The way Judge Maazant characterizes Bitcoin, notably, is not akin to a dollar or ruble, but rather like a precious metal or some other valuable resource. Jon Matonis, executive director of the Bitcoin Foundation, an advocacy organization, suggests this is an important and logical step.
"The ruling is interesting," he wrote in an email to NBC News, "because it highlights the fact that Bitcoin is becoming recognized as commodity money in the same way that gold and silver are recognized as money."
This may lead to it being recognized more widely — Matonis speculates that it could even get a nod from the International Standards Organization under ISO 4217, a classification for "non-national" commodities that don't need to be issued or backed by any government.
Indeed, Bitcoin seems to be traveling on the road towards legitimacy, though that legitimacy may bring as many challenges as it does benefits, as recent struggles by Bitcoin exchanges and businesses show.
Shavers' day in court is not over yet, so this opinion may yet be nullified — or overturned in an appeal or new case. This legal determination may seem a mere nicety considering Bitcoin's already-significant user base, but if it is to be adopted as a real international online currency, such measures are necessary and desirable.
— via Ars Technica
http://www.forbes.com/sites/kashmirh...ial-regulator/Quote:
Originally Posted by sonatine
"Every Important Person In Bitcoin Just Got Subpoenaed By New York's Financial Regulator"
A subpoena doesn’t mean criminal activity has taken place. A person familiar with the matter says the two-year-old department wants to make sure Bitcoin isn’t a conduit for illicit activities and is gathering information in order to decide whether to issue regulation for virtual currencies. The department has the authority to create regulation if there is no other primary regulator. Liberty Reserve — a virtual currency recently taken down by the feds for its use in money laundering and child porn rings — is on the mind of the department as it investigates Bitcoin.
This is the first step in the US government interfering with bitcoin and rendering it mostly useless.
LOL @ anyone who thinks that the government will just sit there and let some alternative currency exist while it's used for illegal drugs and guns on the internet.
New York and U.S. Begin Investigations Into Bitcoins
http://mobile.nytimes.com/blogs/deal...rom=technology
How would Micon survive in Federal Prison?
:ohh
Don't forget the WORST sin of all. Gambling!Quote:
Originally Posted by Dan Druff
Quote:
Originally Posted by TheXFactor
Given the slap on the wrist most of those involved with serious poker companies got after Black Friday, I don't see anything of substance ever happening to him, nor would I wish it to.
It is amusing though to imagine Martha filing motions to suppress Mornings with the Chairman vids which are self-incriminating. The idea of the stoned Micon videos in a room strewn with shit all over the place being played before a federal judge would be worth taking a drive to NY to watch the Southern District present their arguments.
Market doesn't seem to care about the news.
Perhaps the US will not be the primary user of this currency.
The world revolves less and less around the US.
What do you think is more likely? The financial world is indifferent to US regulation or a grey market toy alter-currency embraced virtually exclusively by the international cyber crimesphere is being artificially manipulated?
Crime, cyber and otherwise, is a vibrant and growing market that is largely underserved. The US influence in the global marketplace is shrinking. I think these are two facts we can agree with.Quote:
Originally Posted by sonatine
Currency is only as good as the confidence people have in it.
Many parts of the world have issues with their own currency - inflation, devaluation, banking.
You are witness to a glimpse into the future. Bitcoins will not be the only or last cyber currency. The US will find it increasing difficult to monitor our spending.
With Big Brother watching and listening to our every move it is kind of refreshing to bust a move that they can't track.
I need to stop now. Red lights are blinking at the NSA. I think I see a black sedan out front.
That's cute. You think you're important.Quote:
Originally Posted by Sanlmar
It's a fact you deposit more than 5k in cash they get a heads up about it, and you think he was serous about the black car or just a funny comment?Quote:
Originally Posted by DirtyBThat's cute. You think you're important.Quote:
Originally Posted by Sanlmar
My brain fog won't allow me to comprehend this statement. I'll try again in the morning.Quote:
Originally Posted by sonatine
It's $10k. That's so secret that they tell every bank and casino employee in the country.Quote:
Originally Posted by Baron Von StruckerIt's a fact you deposit more than 5k in cash they get a heads up about it, and you think he was serous about the black car or just a funny comment?Quote:
Originally Posted by DirtyB
I think that he thinks that his edgy pro-bitcoin stance is worth the attention of the US government.