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Thread: CEO of Bitcoin Exchange Arrested - Charged with Money Laundering

  1. #11
    Platinum Son-of-Liberty's Avatar
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    Re: CEO of Bitcoin Exchange Arrested - Charged with Money Laundering

    Quote Originally Posted by mick silver View Post
    hey mad , i just saw this on bitcoin forum ... There really needs some action, I can't stress this enough, I've paid more money to Bitcoin ATMs, local dealers, exchange websites than I ever did to the fiat bank. tell me madfrank what is all the cost in this ? i am learning and need your help here .

    Well if the poster is stupid enough to put himself in a position to pay high fees in order to use bitcoin then that is his problem. Anything you do with BTC is on your own terms. Nobody is forcing you to use services which are overpriced or compromise your identity.

    One of the reasons I prefer Worldcoin to Bitcoin is that Worldcoin is fast enough to make p2p transactions out in the real world without having to use a 3rd party payment processor. The proponents of Bitcoin say that speed doesn't matter because 3rd party's will handle retail transactions. I say that isn't the direction we should be going. Why trade a costly privacy robbing system we have now for another system with the same problems?
    You think that the machine is so powerful that you can't fight, when the reality is that you're the battery that powers the machine.

  2. #12
    Moderator madfranks's Avatar
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    Re: CEO of Bitcoin Exchange Arrested - Charged with Money Laundering

    Quote Originally Posted by mick silver View Post
    hey mad , i just saw this on bitcoin forum ... There really needs some action, I can't stress this enough, I've paid more money to Bitcoin ATMs, local dealers, exchange websites than I ever did to the fiat bank. tell me madfrank what is all the cost in this ? i am learning and need your help here .
    It's called the spread. When you go to your coin shop do you expect to get your gold at spot price? There's a fee involved because there's work involved. Banks only offer "free checking" and "free ATMs" because they overwhelmingly make up the difference by loaning your money out at interest!

    Come on, everyone here should know this by now.
    "Liberty is so creative, and the government is so stupid, that I’m very optimistic about the future"
    - Lew Rockwell

  3. #13
    Platinum Son-of-Liberty's Avatar
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    Re: CEO of Bitcoin Exchange Arrested - Charged with Money Laundering

    Quote Originally Posted by Shami-Amourae View Post
    I'm sure all the bankers at HSBC will be arrested for laundering drug money now.


    Guys, Bitcoin was designed to piss off and eventually destroy governments and banks. No shit they are going to fight this. This is a bloody war for freedom.
    Yeah we knew that the crack down was going to happen eventually. That's fine, it will just push more USD/BTC transactions into cash and complete anonymity. I keep saying it, Localbitcoins is the way to handle any BTC to fiat trades.
    You think that the machine is so powerful that you can't fight, when the reality is that you're the battery that powers the machine.

  4. #14
    .999 Unobtanium Horn's Avatar
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    Re: CEO of Bitcoin Exchange Arrested - Charged with Money Laundering

    Quote Originally Posted by madfranks View Post
    It's called the spread.
    And its centralized into dollar equivalents to determine its real value, not hens or goats.


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    Re: CEO of Bitcoin Exchange Arrested - Charged with Money Laundering

    Quote Originally Posted by Horn View Post
    And its centralized into dollar equivalents to determine its real value, not hens or goats.

    So is oil and gold right now. What's the point? BTC is still very young you can't expect it to function as a completely stand alone currency right out of the gate.
    You think that the machine is so powerful that you can't fight, when the reality is that you're the battery that powers the machine.

  6. #16
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    Re: CEO of Bitcoin Exchange Arrested - Charged with Money Laundering

    Apparently the media is making quite the spectacle out of this. I had one person say to me today that the guy who created Bitcoin was arrested for money laundering.....
    You think that the machine is so powerful that you can't fight, when the reality is that you're the battery that powers the machine.

  7. #17
    Moderator madfranks's Avatar
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    Re: CEO of Bitcoin Exchange Arrested - Charged with Money Laundering

    Quote Originally Posted by Son-of-Liberty View Post
    Apparently the media is making quite the spectacle out of this. I had one person say to me today that the guy who created Bitcoin was arrested for money laundering.....
    Yeah, I have talked to some co-workers about bitcoin in the past, and today I get an email with the OP link asking me if only me and criminals use it.
    "Liberty is so creative, and the government is so stupid, that I’m very optimistic about the future"
    - Lew Rockwell

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