No it wasnt, all currencies fluctuate though. Look at a 5yr chart of the Euro and it is nothing like bitcoin. In 2011, the Euro had a high of 1.45 and a low of 1.27 to the dollar.
Bitcoins! New Hustle? **NOT DEEP WEB**
- Thread in 'General' Thread starter Started by concordflightxi,
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No it wasnt, all currencies fluctuate though. Look at a 5yr chart of the Euro and it is nothing like bitcoin. In 2011, the Euro had a high of 1.45 and a low of 1.27 to the dollar.
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Doesn't need to be parabolic to be volatile.
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Has anyone used Mt. Gox? I noticed that the price you can sell each bitcoin is always higher there than other sites. I want to make an account, but see to be verified you have to send in a picture id and proof of address. Not sure I want to do that.
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So let me get this straight. If I was to mine 1 bitcoin it would be worth the dollar amount represented on this site? http://www.preev.com/
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Bitcoin exchange CEO arrested for money laundering
By Jose Pagliery January 27, 2014: 3:08 PM ET
View media item 769734Charlie Shrem, at center, is the CEO of BitInstant. He was arrested by federal authorities on Sunday.
NEW YORK (CNNMoney)
U.S. government agents have arrested Charlie Shrem, the CEO of Bitcoin exchange BitInstant, charging him with laundering money for customers of online drug bazaar Silk Road.
The U.S. attorney in the Southern District of New York said Shrem helped someone he hadn't met in person, Robert Faiella, sell more than $1 million worth of bitcoins to Silk Road customers. Faiella, a 52-year-old Florida man, allegedly ran an underground Bitcoin exchange using the alias BTCKing.
Shrem was arrested at John F. Kennedy International Airport in New York on Sunday, and Faiella was arrested at his home in Cape Coral, Fla., on Monday, prosecutors said. Both are charged with conspiracy to launder money and operating an unlicensed money transmitting business. Additionally, Shrem faces a charge for not tipping off the feds to what was allegedly going on.
Shrem, 24, is a major player in the Bitcoin world. The BitInstant exchange, based in New York City, lets people buy bitcoins locally at more than 700,000 locations in the United States, as well as Brazil, Russia and elsewhere. It received a $1.5 million investment last year from Cameron and Tyler Winklevoss. Shrem is also vice chairman of the Bitcoin Foundation, one of the currency's biggest advocates.
The Winklevoss twins said in an emailed statement that they are "deeply concerned" about Shrem's arrest.
"When we invested in BitInstant in the fall of 2012, its management made a commitment to us that they would abide by all applicable laws - including money laundering laws - and we expected nothing less," they said.
According to the criminal complaint filed in federal court, Faiella first appeared on Silk Road as BTCKing in late 2011. The black market website only let people buy and sell goods with bitcoins, and Faiella made a business of exchanging cash for bitcoins. That's where Shrem's bitcoin exchange came in handy.
Shrem sold Faiella the bitcoins that eventually made their way to drug buyers and sellers, according to an investigation by the Internal Revenue Service. Though Shrem knew where the money ultimately ended up, he never reported it to the Treasury Department, according to the U.S. attorney.
Federal documents cite email exchanges between Shrem and Faiella that show how close they worked together. Although Shrem never knew Faiella by his actual name -- only by BTCKing -- the young executive helped the older man avoid trouble. For example, when Faiella's frequent and large cash deposits raised eyebrows at a cash processing company, Shrem advised Faiella on how to avoid sounding alarms.
The IRS claims the partners exchanged $1.05 million in bitcoins over a 10-month period ending in October 2012.
Faiella eventually ended the partnership with Shrem. By 2013, he was exchanging more than $20,000 a week for Silk Road clients.
To gather evidence against Shrem and Faiella, federal agents posed as Silk Road users and bought bitcoins from Faiella. According to the court documents, agents then traced the money they paid, which led them to Faiella and eventually Shrem.
Monday's news is the latest in the Silk Road bust that began in October with the arrest of the website's alleged founder. Federal agents managed to track down the website's server, which housed transaction information and private messages. Some of that information was used as part of the Shrem and Faiella arrests.
BitInstant's website was down Monday after the announcement by federal law enforcement.
Several lawmakers have called for increased regulation of Bitcoin in light of the currency's heightened privacy, given that they can be traded without using names and are difficult to trace to an individuals.
During an interview with Russian media news group RT last year, Shrem called the current financial regulations "crazy."
"They're throwing me under the bus," he said of the U.S. government. "They don't like us." To top of page
http://money.cnn.com/2014/01/27/technology/security/bitcoin-arrest/
By Jose Pagliery January 27, 2014: 3:08 PM ET
View media item 769734Charlie Shrem, at center, is the CEO of BitInstant. He was arrested by federal authorities on Sunday.
NEW YORK (CNNMoney)
U.S. government agents have arrested Charlie Shrem, the CEO of Bitcoin exchange BitInstant, charging him with laundering money for customers of online drug bazaar Silk Road.
The U.S. attorney in the Southern District of New York said Shrem helped someone he hadn't met in person, Robert Faiella, sell more than $1 million worth of bitcoins to Silk Road customers. Faiella, a 52-year-old Florida man, allegedly ran an underground Bitcoin exchange using the alias BTCKing.
Shrem was arrested at John F. Kennedy International Airport in New York on Sunday, and Faiella was arrested at his home in Cape Coral, Fla., on Monday, prosecutors said. Both are charged with conspiracy to launder money and operating an unlicensed money transmitting business. Additionally, Shrem faces a charge for not tipping off the feds to what was allegedly going on.
Shrem, 24, is a major player in the Bitcoin world. The BitInstant exchange, based in New York City, lets people buy bitcoins locally at more than 700,000 locations in the United States, as well as Brazil, Russia and elsewhere. It received a $1.5 million investment last year from Cameron and Tyler Winklevoss. Shrem is also vice chairman of the Bitcoin Foundation, one of the currency's biggest advocates.
The Winklevoss twins said in an emailed statement that they are "deeply concerned" about Shrem's arrest.
"When we invested in BitInstant in the fall of 2012, its management made a commitment to us that they would abide by all applicable laws - including money laundering laws - and we expected nothing less," they said.
According to the criminal complaint filed in federal court, Faiella first appeared on Silk Road as BTCKing in late 2011. The black market website only let people buy and sell goods with bitcoins, and Faiella made a business of exchanging cash for bitcoins. That's where Shrem's bitcoin exchange came in handy.
Shrem sold Faiella the bitcoins that eventually made their way to drug buyers and sellers, according to an investigation by the Internal Revenue Service. Though Shrem knew where the money ultimately ended up, he never reported it to the Treasury Department, according to the U.S. attorney.
Federal documents cite email exchanges between Shrem and Faiella that show how close they worked together. Although Shrem never knew Faiella by his actual name -- only by BTCKing -- the young executive helped the older man avoid trouble. For example, when Faiella's frequent and large cash deposits raised eyebrows at a cash processing company, Shrem advised Faiella on how to avoid sounding alarms.
The IRS claims the partners exchanged $1.05 million in bitcoins over a 10-month period ending in October 2012.
Faiella eventually ended the partnership with Shrem. By 2013, he was exchanging more than $20,000 a week for Silk Road clients.
To gather evidence against Shrem and Faiella, federal agents posed as Silk Road users and bought bitcoins from Faiella. According to the court documents, agents then traced the money they paid, which led them to Faiella and eventually Shrem.
Monday's news is the latest in the Silk Road bust that began in October with the arrest of the website's alleged founder. Federal agents managed to track down the website's server, which housed transaction information and private messages. Some of that information was used as part of the Shrem and Faiella arrests.
BitInstant's website was down Monday after the announcement by federal law enforcement.
Several lawmakers have called for increased regulation of Bitcoin in light of the currency's heightened privacy, given that they can be traded without using names and are difficult to trace to an individuals.
During an interview with Russian media news group RT last year, Shrem called the current financial regulations "crazy."
"They're throwing me under the bus," he said of the U.S. government. "They don't like us." To top of page
http://money.cnn.com/2014/01/27/technology/security/bitcoin-arrest/
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Feds mad as hell...they're already the largest owners of Bitcoin and now they've probably seized these guys Coins as well.
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Crazy stuff
RustyShackleford
Supporter
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Why people continue to **** wit the IRS is beyond me. 
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when the guys who started e-gold got caught up with money laundering that was the end of their digital currency
i know nothing about bitcoin, but do you guys think that can happen here?
i know nothing about bitcoin, but do you guys think that can happen here?
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No. Bitcoins value will drop no doubt, but as a whole the currency is too big now. Feds own a lot of bitcoin...they're not just gonna sit back and take a $50mil+ hit
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....you think they don't? that's good for a lot of raises and other funding.
Put it like this, if they didn't care they probably wouldn't have bothered going after these guys.
You're right though in the grand scheme of things, $50m is a drop in their bucket.
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The feds probably spent millions of dollars in the prosecution of this case alone. All of this is to set examples for money laundering, the gov't spends billions per week.
They also want information on the people running silk road/drug commerce which is the real reason they cracked down on it.
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damn the price is like $830 and a few years ago it was $40??? WHY DONT I EVER HEAR ABOUT THESE THINGS EARLY??!?!?!?! So is it even worth it any more?
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Haha when I first heard about them, they were a dollar and people were saying they were gonna bust. Then they said the same thing about $20. Then $100. Funny how that turned out.
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So can you give us some ideas about your gains so far. Did you get in early? Why don't you use mt. gox?
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I first bought in at $20....then lost the password to the wallet, losing those coins forever. I bought back in at about $800 and still buy a small amount every week no matter what the price is at. I don't use MtGox because I haven't had to yet. Also because they've been accused of some shady stuff like faking prices, and they're based allll the way in Japan so you don't have much recourse if something goes wrong.
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Then that means they're successful in 2 ways. They get the $50mm, and other launderers start paying taxes
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I listened to the Joe Rogan podcast with Andreas Antonopoulos the other night.
Wish I knew someone who was into this type stuff :\
Wish I knew someone who was into this type stuff :\
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listened to it too. honestly, i was blown away. The implications of this technology if done right can change everything.
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Has anyone looked into other cryptocurrencies? Dogcoin, iltecoin, etc. There's a bunch out there. A friend of mine just got back 300% returns on luckycoin today. I think there's still a lot of $$ to be made here with certain currencies.
Can someone tell me what I'm looking at here? lol Have no idea how to read these tickers.
View media item 775541
Can someone tell me what I'm looking at here? lol Have no idea how to read these tickers.
View media item 775541
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Best place to exchange cash for coins?
Also, just created my wallet
g
13xts47gYhht9q6ZJxdHb4iAd8ErAMJBeV
Also, just created my wallet
g13xts47gYhht9q6ZJxdHb4iAd8ErAMJBeV
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https://cashintocoins.com/ is going to give you one of the best exchange rates for cash.Best place to exchange cash for coins?
Also, just created my wallet
13xts47gYhht9q6ZJxdHb4iAd8ErAMJBeV
Monday Night/Tuesday Morning will be the time to buy.
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What makes you say that?
cs02132
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