Bitcoin: What You're Not Being Told

[Horn]

Submitted by Kelldor (http://www.dailypaul.com/user/234) on Thu, 12/05/2013 (http://www.dailypaul.com/date/2013/12/05) - 17:33


Just posting this cause I have seen a lot of Bitcoin posts lately, and thought you folks might find it interesting. I didn't know that everyone who uses Bitcoin has to download a file of all Bitcoin transactions ever made, and that this file is growing exponentially in size as more people start using Bitcoin.

I don't have any Bitcoins. Not trying to make some statement for or against. I'm still just learning about this. I'm in "wait and see" mode on it.


http://www.youtube.com/watch?v=PfeA94BedQI

[EE_]

Our tech guy will tell us if this matters.

[mick silver]

The blockchain has already been restructured once. Mr. Stormclouds doesn't seem to know that.

[Horn]

Our tech guy will tell us if this matters.


Anyhow, Quark is the newest crypto currency yet, and it is also on the rise. The developers for Bitcoin who are also developing Quark boast that Quark is even more secure than Bitcoin. How so? They suggest that Bitcoin was the very first crypto currency they had worked on, and there were many mistakes that they had made with Bitcoin. Although they weren’t the one who came up with Bitcoin and the whole idea of Bitcoin, but they were the ones who worked on Bitcoin platform to improve Bitcoin crypto currency in general. Nonetheless, the mistakes they made with Bitcoin are now being fixed by Quark.

http://essayboard.com/2013/12/02/crypto-currencies-bitcoin-and-quark-for-newbies/

Quark seems to have fixed the centralization issues that plague the Bitcoin.

Go there, its as good as Gold 2.0



Disclaimer: Author takes no responsibility for you losing your shirt on something sold as money that is not. Side effects may include (but not limited to) nausea, vomiting, lose of sleep, severe headache, intestinal cramping with profuse sweating, delusional symptoms, ad hominem attacks, and nasty mud type bowel movements...

[Ponce]

It will split, like paper stock, so that more people can get into the suckers game.......

V

[mick silver]

dam horn i dont know you anymore , whats happen to you ..................... go silver
http://essayboard.com/2013/12/02/crypto-currencies-bitcoin-and-quark-for-newbies/

Quark seems to have fixed the centralization issues that plague the Bitcoin.

Go there, its as good as Gold 2.0



Disclaimer: Author takes no responsibility for you losing your shirt on something sold as money that is not. Side effects may include (but not limited to) nausea, vomiting, lose of sleep, severe headache, intestinal cramping with profuse sweating, delusional symptoms, ad hominem attacks, and nasty mud type bowel movements...

[Ponce]

The same way that kids will play with snow till their hand get too cold and won't touch snow anymore is the same way that people will play with bitcoins till they get burn and will stop buying them.

V

[Horn]

China bans banks from handling Bitcoin trade


China has banned its banks from handling transactions involving the Bitcoin virtual currency.

The ban came in a notice issued (http://www.pbc.gov.cn/publish/goutongjiaoliu/524/2013/20131205153156832222251/20131205153156832222251_.html) by the People's Bank of China, financial watchdogs and the nation's IT ministry.
Bitcoins were a "virtual good", had no legal status and should not be used as a currency, it said.

The decision comes after bitcoins' rapid rise in value was called a "bubble" by Alan Greenspan, former US Federal Reserve chairman.

The ban was imposed because bitcoins were not backed by any nation or central authority, said the notice.
It added that it was planning to step up its efforts to curb the use of bitcoins to launder cash.

Individuals were still free to trade in bitcoins but should be aware of the risks involved, said the People's Bank of China (PBOC), adding that it planned to formalise the regulation of exchanges that dealt in the digital cash.

Experts told Reuters the PBOC was moved to make its decision because Chinese nationals were heavily involved in trading the virtual currency. Many believe this is because it helps them avoid controls on trade in the yuan.

http://www.bbc.co.uk/news/technology-25233224

When did the Chinese get better at producing law than the U.S.?

[Horn]

dam horn i dont know you anymore , whats happen to you ..................... go silver

When in Rome, Mick.

While they've already done much damage to Silver, I'm forced to join as token double agent to prevent further damage. Ares was doing a horrible job at his stated mission of subverting E-coins from the inside, or at least make clear to those delusional folks what they aren't trading in.

Plus, It's much safer in the seats, then on the floor of the Colosseum with the agnostics. lol!

[mick silver]

well then horn do you want to get in on the ground floor of the deal of a life time , if so mail me you silver and i will mail you a hand full of mickcoins .... get in before there mined away

[Horn]

well then horn do you want to get in on the ground floor of the deal of a life time , if so mail me you silver and i will mail you a hand full of mickcoins .... get in before there mined away

Careful, or I'll have them throw you to the Lions... lol :)

Someone has to put an end to this, first it was all the free internet journalists that vanished to parts south, now they are going after our best and brightest of the investing and computing industry.

[Horn]

Bill Still is advocating because he is pushing his aims towards National Currency. While those aims are honorable, its no reason to help do in precious metals with a temporary counterfeit.

Unless he himself is hurting for dough (which may be the case) then of course he's free to HOLD as many depression era wooden nickels (penny stocks) as he likes. At least Quark visibly appears more like a wooden nickel upon initial investigation.

Not the "Gold 2.0" that Bitcoin claims.


http://www.youtube.com/watch?v=0ocSszoz1Zk&list=UUhZRoC9bMegevAxFmee1oSA

[vacuum]

Couldn't watch the video, but I'll make these comments.

The block chain is indeed growing in an unlimited manner, and people who use the full client must download it. However, there is no reason why an update to the software could be made such that transactions beyond a certain date are considered archived and are no longer needed.

Regarding Quark, it's a pump and dump scheme because 98% of coins that will ever exist have already been minded. Maybe the ideas behind Quark are legitimate, but Quark itself is a pump and dump scheme whether it is intentional or unintentional.

[Horn]

Couldn't watch the video, but I'll make these comments.

The block chain is indeed growing in an unlimited manner, and people who use the full client must download it. However, there is no reason why an update to the software could be made such that transactions beyond a certain date are considered archived and are no longer needed.

Regarding Quark, it's a pump and dump scheme because 98% of coins that will ever exist have already been minded. Maybe the ideas behind Quark are legitimate, but Quark itself is a pump and dump scheme whether it is intentional or unintentional.

Clipping Bitcoin blockchain would make it more vulnerable is my understanding. And if it were that easy should've been done before it hit 10gb. Still doesn't negate the fact of communist pool miners and their special mining house hardware.

As for a pump and dump of Quark, I would say there are just too many coins distributed and they don't look that attractive enough to begin with to pump, and if done wouldn't be that effective. From what I've seen they don't move more than 400 and scales down with multiple transactions from the same address. So that would also add difficulty to pumping and dumping. Everything about it is much cleaner and operable for intended use as a wooden nickel currency. If that's what everyone is looking for?

[Ares]

I haven't watched the video, as I'm not able too at work. But if I may offer a solution to the blockchain size. There is a wallet that doesn't download the blockchain called multibit wallet.

Faster to synchronize - usually a minute or so
Lighter - the stored data is much smaller (usually a few megabytes)

https://multibit.org/index.html

[Serpo]

http://www.silverdoctors.com/bitcoin-as-a-black-swan/#more-35802

[Horn]

Lighter - the stored data is much smaller (usually a few megabytes)

https://multibit.org/index.html

I guess you'll be investing in the centralized supernode sites most precipitously?

So we have communists farmers, and towering clergy as keepers of the talmud-n-blockchain scrolls...

[mick silver]

them fighting words .........communists farmers

[old steel]

Digital Currencies Everywhere Are Plummeting On China Report

Read more: http://www.businessinsider.com/digital-currencies-crashing-on-china-report-2013-12#ixzz2mjIhlgTL

[Horn]

Digital Currencies Everywhere Are Plummeting On China Report



Read more: http://www.businessinsider.com/digital-currencies-crashing-on-china-report-2013-12#ixzz2mjIhlgTL



Communist farmers revolting on Communist farmers,

is that even possible?

[Serpo]

Digital Currencies Everywhere Are Plummeting On China Report



Read more: http://www.businessinsider.com/digital-currencies-crashing-on-china-report-2013-12#ixzz2mjIhlgTL



Smashed across the board but for anyone thats owned silver for a while then this is normal.........

[Ares]

Smashed across the board but for anyone thats owned silver for a while then this is normal.........

Yep, China's Baidu halted accepting Bitcoins for a while due to volatility.

[Serpo]

BOOM: A Major Wall Street Bank Just Initiated Coverage On Bitcoin And Identified A Fair Value Sam Ro (http://www.businessinsider.com.au/author/sam-ro) Dec 5 2013, 11:59 PM 1 (http://www.businessinsider.com.au/baml-initiates-coverage-on-bitcoin-2013-12#comments) 14 (http://www.businessinsider.com.au/baml-initiates-coverage-on-bitcoin-2013-12#social)
http://static.businessinsider.com/image/52a07623ecad0496266381a8-400/image.jpg (http://static4.businessinsider.com/image/52a07623ecad0496266381a8-960/screen%20shot%202013-12-05%20at%207.46.34%20am.png)
The game just changed.
Bitcoin, the bizarre electronic currency that seemingly came out of nowhere and has been taking over financial market headlines, is now being covered by one of the biggest firms on Wall Street.
“We believe Bitcoin can become a major means of payment for e-commerce and may emerge as a serious competitor to traditional money transfer providers,” wrote Bank of America currency strategist David Woo in a 14-page note to clients this morning. “As a medium of exchange, Bitcoin has clear potential for growth, in our view.”
This extremely volatile “cryptocurrency” crashed from $US1,240 to a low of $US870 (http://www.businessinsider.com.au/bitcoin-falls-after-china-warning-2013-12) this morning after the People’s Bank of China announced Bitcoin coin handling restriction for its countries banks.
Wall Street’s coverage of Bitcoin seemed inevitable considering the amount of money moving in and out of it.
Here’s more from Woo:

Store of wealth for the underground economy?
It has been reported that Bitcoin may help users avoid high taxes, capital controls, and confiscation. The correlation between CNY’s share of volume of all Bitcoin exchanges and price of Bitcoin is high and rising (Chart 1). That said, the fact that all Bitcoin transactions are publically available and that every Bitcoin has a unique transaction history that cannot be altered may ultimately limit its use in the black market/underworld.
“Is Bitcoin a bubble?” asked Woo. “Assuming Bitcoin becomes (1) a major player in both e- commerce and money transfer and (2) a significant store of value with a reputation close to silver, our fair value analysis implies a maximum market capitalisation of Bitcoin of $US15bn (1BTC = 1300 USD). This suggests that the 100 fold increase in Bitcoin prices this year is at risk of running ahead of its fundamentals.”
We expect other Wall Street analysts to follow suit.

http://www.businessinsider.com.au/baml-initiates-coverage-on-bitcoin-2013-12

[EE_]

BOOM: A Major Wall Street Bank Just Initiated Coverage On Bitcoin And Identified A Fair Value Sam Ro (http://www.businessinsider.com.au/author/sam-ro) Dec 5 2013, 11:59 PM 1 (http://www.businessinsider.com.au/baml-initiates-coverage-on-bitcoin-2013-12#comments) 14 (http://www.businessinsider.com.au/baml-initiates-coverage-on-bitcoin-2013-12#social)
http://static.businessinsider.com/image/52a07623ecad0496266381a8-400/image.jpg (http://static4.businessinsider.com/image/52a07623ecad0496266381a8-960/screen%20shot%202013-12-05%20at%207.46.34%20am.png)
The game just changed.
Bitcoin, the bizarre electronic currency that seemingly came out of nowhere and has been taking over financial market headlines, is now being covered by one of the biggest firms on Wall Street.
“We believe Bitcoin can become a major means of payment for e-commerce and may emerge as a serious competitor to traditional money transfer providers,” wrote Bank of America currency strategist David Woo in a 14-page note to clients this morning. “As a medium of exchange, Bitcoin has clear potential for growth, in our view.”
This extremely volatile “cryptocurrency” crashed from $US1,240 to a low of $US870 (http://www.businessinsider.com.au/bitcoin-falls-after-china-warning-2013-12) this morning after the People’s Bank of China announced Bitcoin coin handling restriction for its countries banks.
Wall Street’s coverage of Bitcoin seemed inevitable considering the amount of money moving in and out of it.
Here’s more from Woo:

Store of wealth for the underground economy?
It has been reported that Bitcoin may help users avoid high taxes, capital controls, and confiscation. The correlation between CNY’s share of volume of all Bitcoin exchanges and price of Bitcoin is high and rising (Chart 1). That said, the fact that all Bitcoin transactions are publically available and that every Bitcoin has a unique transaction history that cannot be altered may ultimately limit its use in the black market/underworld.
“Is Bitcoin a bubble?” asked Woo. “Assuming Bitcoin becomes (1) a major player in both e- commerce and money transfer and (2) a significant store of value with a reputation close to silver, our fair value analysis implies a maximum market capitalisation of Bitcoin of $US15bn (1BTC = 1300 USD). This suggests that the 100 fold increase in Bitcoin prices this year is at risk of running ahead of its fundamentals.”
We expect other Wall Street analysts to follow suit.

http://www.businessinsider.com.au/baml-initiates-coverage-on-bitcoin-2013-12

Sounds like the bankers like bitcoin...what a surprise.

[Horn]

Oh great, now we have insurance policies drawn up on nothing.

Talk about puppet strings... what a weird day.

[gunDriller]

well then horn do you want to get in on the ground floor of the deal of a life time , if so mail me you silver and i will mail you a hand full of mickcoins .... get in before there mined away

because the value of *coins depends on their rarity, it reminds me a little bit of numismatics.


i think part of the appeal of Bitcoins is the love affair with technology. people like tech'y things.

also, they can be used to pay for stuff worldwide - like with Sovereigns.

[mick silver]

to me mickcoins are the ones to watch , right now you can buy one for 4000.00 bucks , they have went fron a low of a penny to now , so whats to stop them from being a million in a week are two , so if you ever wanted into mickcoins it would be the time to jump in with every thing you can come up with , sale the house car boat farm old lady kids what ever it takes but jump in now . once in a life time does a deal like this comes about . mick http://www.thedailybell.com/images/library/globalistdestruction.jpg

[gunDriller]

to me mickcoins are the ones to watch , right now you can buy one for 4000.00 bucks , they have went fron a low of a penny to now , so whats to stop them from being a million in a week are two , so if you ever wanted into mickcoins it would be the time to jump in with every thing you can come up with , sale the house car boat farm old lady kids what ever it takes but jump in now . once in a life time does a deal like this comes about . mick http://www.thedailybell.com/images/library/globalistdestruction.jpg

so will you cut us G-S members a deal ?

[mick silver]

no but i can sell you a old lap top for only 2000.00 bucks that you can mine with it super slow but gets the job done , be your own miner mick

[old steel]

Communist farmers revolting on Communist farmers,

is that even possible?

I would like to think all things are possible my forum friend.

[old steel]

to me mickcoins are the ones to watch , right now you can buy one for 4000.00 bucks , they have went fron a low of a penny to now , so whats to stop them from being a million in a week are two , so if you ever wanted into mickcoins it would be the time to jump in with every thing you can come up with , sale the house car boat farm old lady kids what ever it takes but jump in now . once in a life time does a deal like this comes about . mick http://www.thedailybell.com/images/library/globalistdestruction.jpg






How many pet rocks will you take for a mickcoin?

[old steel]

I'm still in silver mindset waiting for the day when i can trade a pre '64 dime for 2 pounds of cheese when cheese is not easy to find.

How do i get out of that?

[Ares]

I'm still in silver mindset waiting for the day when i can trade a pre '64 dime for 2 pounds of cheese when cheese is not easy to find.

How do i get out of that?

You don't. Just diversify a little and hope to accumulate more mercury dimes and precious metals. Because if you're able to accumulate more, you take that metal away from those who use it to control you with it.

[Cebu_4_2]

HUGE selling going on...

http://bitcoinity.org/markets

[Serpo]

This is fantastic,when was the last time you saw a volatile market. This is the wild west ,on some news article from China bitcoin nearly halfs in value , amazing .

Markets have lost there excitement lately but the cryptos may make up or it..............crazy

[mick silver]

looks like mickcoin up on the bad news of bitcoins

[Horn]

This is fantastic,when was the last time you saw a volatile market. This is the wild west ,on some news article from China bitcoin nearly halfs in value , amazing .

Markets have lost there excitement lately but the cryptos may make up or it..............crazy

What happens when you lose 1/2 your market.


Bitcoin fell from a high of $1,079 to a low of $576 today. This is according to data from Mt. Gox (https://www.mtgox.com/). Also, this represents a breathtaking 46% crash.

Currently, Bitcoin is back to the $700 level. This is still down a whopping 35%.


The sharp moves come in the wake of China's clampdown on the controversial digital currency.
Earlier this week, the People's Bank of China announced (http://www.businessinsider.com/peoples-bank-of-china-warns-on-bitcoin-2013-12) it was barring the country's banks from handling the Bitcoin. (That Thursday announcement was followed by a 30% intraday crash (http://www.businessinsider.com/bitcoin-falls-after-china-warning-2013-12).)
That was followed by this announcement from Baidu (http://www.businessinsider.com/bitcoin-falls-below-900-2013-12), aka "the Chinese Google":
Due to the recent fluctuations in the price of Bitcoin larger unable to protect the interests of users, in response to the risk of state-controlled bitcoin spirit Baidu music accelerate decision to suspend with immediate effect from accepting bitcoin buy accelerate music services.
Horrific price volatility has been one of the biggest criticisms.


Read more: http://www.businessinsider.com/bitcoin-crashes-to-576-2013-12#ixzz2mnrpAAnK



This week, Bank of America Merrill Lynch currency strategist David Woo initiated coverage of Bitcoin, assigning a $1,300 fair value (http://www.businessinsider.com/baml-initiates-coverage-on-bitcoin-2013-12).
"We believe Bitcoin can become a major means of payment for e-commerce and may emerge as a serious competitor to traditional money transfer providers," wrote Woo in a 14-page note to clients. "As a medium of exchange, Bitcoin has clear potential for growth, in our view."
Here's a Bitcoin price chart from Clark Moody (http://bitcoin.clarkmoody.com/widget/chart/):





http://static2.businessinsider.com/image/52a302eb69beddd9443afefc-1126-716/capture-222.jpg
Read more: http://www.businessinsider.com/bitcoin-crashes-to-576-2013-12#ixzz2mnrpAAnK

[mick silver]

it looks like there web site down , the ride so bad they took it down ... BITCOIN CRASHES AFTER WARNING FROM CHINA http://www.businessinsider.com/bitcoin-falls-after-china-warning-2013-12
this morning i order 20 more ozs of silver , looks like a silver day to me

[Cebu_4_2]

This is fantastic,when was the last time you saw a volatile market. This is the wild west ,on some news article from China bitcoin nearly halfs in value , amazing .

Markets have lost there excitement lately but the cryptos may make up or it..............crazy

In the days of '08 there were plenty of haircuts.

[mick silver]

What does the process involve?

First, we ask you to provide one piece of government issued photographic identification, which is usually either:



A driver's license,
A passport, or;
A military identification card (surprisingly, we have a large number of customers in the armed forces of various countries.)


We then ask you provide some form of proof of residence document, which is an official document issued within the last three months bearing both your name and full street address. For obvious reasons, we cannot accept addresses with PO Boxes. Usually, we receive one of the following:



A utility bill,
An internet bill,
A cell phone or mobile phone bill,
A tax return,
A residency certificate issued by your local government,
A voting registration form, or;
A medical insurance bill


Whilst many of our users submit bank statements as their proof of residence, we unfortunately cannot accept bank statements from our customers. This is because it is relatively easy for fraudsters to open an account at a less reputable banking service which does not check the accuracy of a person's stated address. It is then possible to use this bank's statement as a seed to open accounts at increasingly trustworthy establishments without ever having provided proof of residence in the first place.

https://bitcointalk.org/index.php?topic=86224.0-28.91

[mick silver]

People have to understand one thing, we, and this will apply to any other Exchange at some point, have to follow government and banks rules. Do we like these rules? Not always. Do we enjoy enforcing them? Hell no! Do we have a choice? Not at ALL!

Unless all of you start mining BTC, uses these Bitcoins to pay stuff in Bitcoins and never ever cash out or buy Bitcoins, we will have to follow these rules, coz at ANY GIVEN TIME, if we are not capable to give the proper documentation that a Bank for example need for a deposit or a withdraw they will use this opportunity to shut us down from using their service again. And I am not talking about huge amounts there but if they want to be a pain in the XXX they will and this even for $10.

Banks rules are different from one Bank to another and they totally control us since we NEED them to help you to cash in or out. They are totally closed and will never give you any reasons or details on why a wire is blocked or why they start investigating a certain transfer. And with their Terror list, if you are unfortunate enough to bear the same name as a person in this watch list, hell will fall over us.

At the beginning they did not really care about us, so we could do pretty much everything we wanted, opening an account there, offering such service, but since :
1) We grew and started to handle a lot of money
2) The popularity of Bitcoin and the Risk for them

Banks are scrutinizing our every move.

Now sure you can go to another exchange and we totally understand that, but if tomorrow XYZ Exchange start handling as much as we are handling, they will face the same problems as we do and they will become as "unpopular" as we are.

So at this point there are not many solutions. And our goal is to make sure that we are as CLEAN as possible in the eyes of these people in order to continue to help Bitcoin to move forward. Sometimes we are rather "aggressive" on these aspects and ask more than what an average bank may ask or need clearer documents, but this is in NO WAY to bother you but just to tell Governments and Banks that we are doing things by the books and that we are in no way criminals!

We know that there are many things that need to improve, and we are working on it, unfortunately and since we are working at an international level there are many things that need to be done at the same time which is slowing us down. Things take time and time is something that with Internet and IT Success have radically change in the eyes of many people where things are moving at Light speed, but when it comes to Banks and Government, time is set on another scale that frustrate all of us. The best example I have for you, and I cannot go too much in details, is when we explain to a Government entity what is Bitcoin and what would be the perfect set of rules that we must follow to make sure that we can continue our business in peace. After our lawyer gave them all documentation, met them at several occasions, we asked, when can you give us an answer? They replied : We cannot commit to any time on this matter and it will take as much time as needed to get back to you...

So yes we understand your frustration, yes we are working on improving this Process, Yes we have some solution in mind to help you, but remember that we do not do that to bother you, but we do that in order to protect everyone's assets here and make sure that the service is running smoothly. And more Bitcoin will become popular more things will get complicated. After all if any Government or Banks does not need to make Bitcoin illegal to stop it, they can easily do it by forcing Exchange out of the equation and making impossible for people to cash in or cash out.

PS Sorry for this long speech and for the many mistakes it may contain, I wrote this on my way to the office.https://bitcointalk.org/useravatars/avatar_42942.png

[mick silver]

I believe it has already been made clear and that you understand the situation. But here it is again for you to read. Also please understand that I cannot give all the details on what have been done here on this forum since we would like to keep your personal information as private as possible.

1) We can't explain all the details on how do we "Flag" people or how our process work. If we do so publicly we will then offer a unique opportunity for "Bad" elements to bypass or security. So I am sorry but you will never have a clear answer on how our security features works on this matter. Please understand we are doing so in order to protect people assets including yours and our system integrity.

2) What you did is a text book case of money laundering for us based in Japan (Remember we are in Japan). I am not saying you were trying to do something bad, and you have been cleared for this. But Check all Best Practice on this matter and you will see immediately what went wrong. To give you an example, I am French, Living in Japan I own an account in France and Japan with Visa Cards attached to them. Every single time I am sending money from France to Japan, the Japanese Bank call me to check WHY ON EARTH I am sending money to myself? They won't clear the transfer if I won't give them the reasons. Things are even more complicated when I receive money from other people or companies. So in your case you can understand that some flagged has been raised.

3) What you did is against our TOS, TOS that you agreed upon. TOS that has been written by our Law Firm in compliance with Japanese Law.

4) You refused to comply with basic AML/KYC. Sorry but it is how things work, once again what you did is text book case for basic money laundering and we have strict instructions on this matter and are ask by our bank to follow them if we want to use their service. Being reluctant to submit "Proof" and proper documentations did not help your case and increased potential problems with our Bank and Japanese authorities.

5) Not being capable to verify your identity and the clear connection with the person whom you wanted to send the fund give us no other choice to report this matter to the police here in Japan. We are not the law and only the Law can decide what can be done until things are cleared. Also failing to report any suspicious activity to Japanese Law can put us in trouble and ultimately force us to stop our activity temporarily or indefinitely.
Without much solutions in our hands and your continuous refusal we had to move forward. As for today you gave us all necessary documentation and "proof" to clear your name on this matter and the case is closed. The Japanese Police has no involvement in this matter at this point.

Conclusion:
1) You do not have to worry for this matter as far as Mt.Gox is concerned.
2) You do not have to worry about the Japanese Police for this matter. Case Cleared and Close.
3) We cannot communicate any information regarding pending case, ongoing case, past case unless we are requested by law to do so. Failing to this basic duty will be heavily sanctioned here in Japan.
4) We cannot give you the details on how things works when it comes to Money Laundering for example since it will help "Bad" elements to by pass our security measures.

I sincerely hope that this post will put an end to this matter and clear your mind.

Regards

[Ares]

Yep, exchanges are the Achilles heal at the moment unfortunately. But like he said if people do not cash out to fiat, and just use it to purchase products or services without government fiat into the equation. Banks and regulations are a non-issue.

[Horn]

https://bitcointalk.org/index.php?topic=86224.0-28.91



Are all these people so stupid,

that they don't know how to purchase precious metals at that same website gonzo does?

Then they can leave that dude holding the bag of worthless nothing Bitcoins.

They must not have gone to jewish school.

[mick silver]

Headline today:World powers react to the Bitcoin boom

Sounds like more than a tulip craze

Now Uncle Scam will start his own crypto After reading page 9 I think I recognize this business model. Madoff anyone? https://bitcointalk.org/index.php?topic=86224.160

[mick silver]

what the price of bitcoin today ? i cant load there site it so slow

[Horn]

what the price of bitcoin today ? i cant load there site it so slow

Stable like rock gold 2.0 at 737.31.

[mick silver]

was it not like 1200 bucks a few day back

[Horn]

was it not like 1200 bucks a few day back

No, it was 200 a few day back.

[Cebu_4_2]

Reminds me of the markets in '08

[Rubberchicken]

Yep, exchanges are the Achilles heal at the moment unfortunately. But like he said if people do not cash out to fiat, and just use it to purchase products or services without government fiat into the equation. Banks and regulations are a non-issue.

Fact: Mt Gox was originally a website for trading Magic Cards. LOL!

Fact: "The Department of Homeland Security issued a seizure warrant to Dwolla for the money in Mt. Gox’s Dwolla account. Mt. Gox users can’t use Dwolla as a funding option anymore even though it was one of the most popular options. The Japanese startup failed to register in the U.S. as a money transmitting company — president and CEO Mark Karpeles now faces up to five years in prison."

Carry on...

[Cebu_4_2]

Mark Karpeles:

http://www.wired.com/wiredenterprise/2013/11/mtgox/

There is also a documentary on him:

http://www.imdb.com/title/tt2821314/?ref_=nm_flmg_slf_1

[Son-of-Liberty]

Fact: Mt Gox was originally a website for trading Magic Cards. LOL!

Fact: "The Department of Homeland Security issued a seizure warrant to Dwolla for the money in Mt. Gox’s Dwolla account. Mt. Gox users can’t use Dwolla as a funding option anymore even though it was one of the most popular options. The Japanese startup failed to register in the U.S. as a money transmitting company — president and CEO Mark Karpeles now faces up to five years in prison."

Carry on...

What happens with Gox at this point is almost irrelevant. BTCChina consistently has higher volume then MT.Gox.

BTC-e if it hasn't surpassed MT.Gox in volume is now very close.

The Biggest crypto exchange in terms of overall volume is btc38.com they exchange CNY for a variety of cryptocurrency not just BTC.

The US is not going to bring this ship down on it's own.

[Shami-Amourae]

Submitted by Kelldor (http://www.dailypaul.com/user/234) on Thu, 12/05/2013 (http://www.dailypaul.com/date/2013/12/05) - 17:33




http://www.youtube.com/watch?v=PfeA94BedQI

StormCloudsGathering is an self-hating anti-White racist. He has no credibility with me anymore:

http://www.youtube.com/watch?v=FeSz3lT4mqs

[Ares]

Fact: Mt Gox was originally a website for trading Magic Cards. LOL!

Fact: "The Department of Homeland Security issued a seizure warrant to Dwolla for the money in Mt. Gox’s Dwolla account. Mt. Gox users can’t use Dwolla as a funding option anymore even though it was one of the most popular options. The Japanese startup failed to register in the U.S. as a money transmitting company — president and CEO Mark Karpeles now faces up to five years in prison."

Carry on...

FACT: You just negated your bullshit claim that it is a controlled currency. Yeah banks and governments always confiscate, intimated and force closures of currency system they support and control.

:rolleyes:

carry on indeed.

[Cebu_4_2]

StormCloudsGathering is an self-hating anti-White racist. He has no credibility with me anymore:

http://www.youtube.com/watch?v=FeSz3lT4mqs

The site he was quoting sounded pretty good. Is he a jew shill?

[Horn]

FACT: You just negated your bullshit claim that it is a controlled currency. Yeah banks and governments always confiscate, intimated and force closures of currency system they support and control.

:rolleyes:

carry on indeed.

Perhaps its reverse psychology at work,

there are alot of rebels out there that they wouldn't mind rendering into the broke section.

What better way to do it besides having them purchase nothing, under the guise of actually rebelling?

[Serpo]

https://www.youtube.com/watch?v=yZmFAYcl61k#t=202https://www.youtube.com/watch?v=yZmFAYcl61k#t=202

[Son-of-Liberty]

https://www.youtube.com/watch?v=yZmFAYcl61k#t=202https://www.youtube.com/watch?v=yZmFAYcl61k#t=202

I liked that report by Bill Still except he keeps promoting quarks....

[EE_]

This is pretty big news. It does sound like the bankers are moving in.

ZipZap to Offer Cash-for-Bitcoin Service at 28,000 UK Locations
Emily Spaven (@emilyspaven) | Published on December 6, 2013 at 10:51 GMT

UK residents will soon be able to walk into one of 28,000 shops across the nation and pay for bitcoins in cash, thanks to a new deal forged by ZipZap.

The global cash payment network has partnered with a well-known but as-yet-un-named company in the UK. ZipZap plans to offer this service in partnership with its network of bitcoin exchanges worldwide.

This means that, from January, people will be able to buy bitcoins from a number of reputable exchanges through a single source, and pay in their neighbourhood with physical cash.

ZipZap is currently available at 700,000 locations worldwide: offering consumers the opportunity to pay in cash for goods ordered online.

The company is looking to start offering its cash-for-bitcoins service in the UK in early January. While the service will initially launch in 28,000 locations across the nation, it hopes to expand continuously.

Eric Benz, VP of business development EMEA at ZipZap, said:

“We’re excited to be able to offer a simple way for the everyday consumer to use their cash to buy bitcoins.”
“Bitcoin is becoming more and more popular, but the ease of access to digital currency hasn’t really improved. We want to change this so that everyone, regardless of how tech-savvy they are, can get involved in bitcoin,” he added.

The company aims to expand to the rest of the EU, Africa, Asia and the Middle East, eventually growing to offer its services at over two million locations across the world.

ZipZap’s management team has a long history in the payments space, with experience at Western Union, MasterCard, Wells Fargo, Bank of America and CardEx.

“This means we are uniquely positioned to deal with compliance and regulatory considerations,” said Benz.

More details about ZipZap’s expansion into the bitcoin space will be revealed in early 2014.
http://www.coindesk.com/zipzap-offer-cash-bitcoin-service-28000-uk-locations/

Other headlines
Snoop Dogg Embraces Bitcoin for His Next Record
World’s Largest Bitcoin Exchange BTC China Now Requires ID
Following the Money: Researcher Tracks Bitcoin Movements and Anonymity
San Francisco Doctor Accepts Bitcoin to Protect Patient Privacy
Baidu Stops Accepting Bitcoin, Price Slumps Again
Bitcoin Price Could Reach $98,500, Say Wall Street Analysts

[Jewboo]

ZipZap’s management team has a long history in the payments space, with experience at Western Union, MasterCard, Wells Fargo, Bank of America and CardEx.



TRANSLATION: Been working for the banksters since forever....................and still do.

[EE_]

TRANSLATION: Been working for the banksters since forever....................and still do.

People think the Jew bankers have control now...just wait!
I'm looking forward to the new world where every transaction is taxed. Bitcoin and it's users will pave the way!

[Horn]

TRANSLATION: Been working for the banksters since forever....................and still do.

And now comes new and improved with even more zipzap middlemen.

Paper was far too easy for customers to get their hands on.

[mick silver]

what if jp morgan was to get paid like do they do for foodstamps but use something like bitcoins for the new easy to get paper money that you use on your free phone