41–50 of 107 posts
Bitcoin users are a bunch of intellectual property thieves, child pornographers, and drug users.
The sooner this currency is destroyed, and its user-base imprisoned the better we will all be.
Earlier quoted context omitted.
More likely archive.is is pretending to be Googlebot. The author has a lot of server side tricks, like fake Facebook accounts so that it can archive Facebook pages properly.
I'm attempting to replicate this. Searching the last sentence (which is behind the paywall) brings it up in google right away, so I think you're right. However, using Googlebot's user agent doesn't work, so it must be slightly more sophisticated. The result in Google is also not-paywalled, though going directly to the link is. So maybe they use a simpler strategy, and just mess with the parameters. This is the result…
"cache:http://online.wsj.com/news/articles/SB10001424052702303880604579405852448992982?"
I'm fine with Gox getting investigated, too, but justice shouldn't depend on who you are.
Earlier quoted context omitted.
No... people lost a lot of money, including investors and investment funds located in the US. This is a case of the gov't doing their jobs and likely has nothing to do with Silk Road. It might have something to do with the MtGox funds previously confiscated by DHS(?) though.
The previously confiscated funds were directly related to the Silk Road busts. DHS officials inferred as much in their testimony on Bitcoin before congress. http://thegenesisblock.com/mt-gox-seizures-linked-silk-road-... The article implies this wasn't just issued today, it is just being reported now but it says it was actually issued "this month". You know what else happened in that time frame? Charlie Shrem was arr…
New York wants to be the big dog in regulating crypto-currency, which almost feels like they are protecting and working at the behest of the banking industry headquartered there. But I do not understand how a NY prosecutor can subpoena a Japanese business?
But I do not understand how a NY prosecutor can subpoena a Japanese business? If you offer services to, or engage in financial transactions with, a person in Jurisdiction A, Jurisdiction A can enforce its laws on you. You should not in any way be surprised by this fact.
The U.S. may enforce its laws upon U.S. entities, but it has no authority to do so on e.g. a Japanese one, unless a treaty/agreement exists that facilitates it. This is why China-only companies that engage in IP theft (or vice versa) aren't being hauled into court on the daily. (You wouldn't be surprised if I said China can't enforce its laws on a NY company, right?)
As for Mt. Gox itself, its principle(s) will be aggressively prosecuted and sentenced. The New York US attorney behind the subpoena is Preet Bharara. Preet is responsible for shutting down online poker and obtaining the longest sentence for insider trading ever handed down, among other such dubious "accomplishments". He has never met a camera he didn't love, and will take the opportunity to thrash not just Mt Gox but also Bitcoin itself in the media.
Where were these zealous prosecutors during the global financial meltdown in 2008? It would be nice if people went to jail for fraudelently representing mortgages. I'm fine with Gox getting investigated, too, but justice shouldn't depend on who you are.
I've been following this story for a while, and it seems that no one can say for sure if this is embezzlement or gross incompetence. Based on leaked memos it seems to be most people are learning towards the latter, but I'm curious if there's any evidence either way.
Based on the claimed transparency of Bitcoin, I would have expected embezzlement on this scale to have been noticed earlier, or at the very least have people be able to follow the Bitcoin trail to determine what is actually happening.
Am I wrong or just missing something?
Soon, Mark Karpeles and/or Tibanne Kabushiki Kaisha and/or Mutum Sigillum LLC are likely to be charged with at least one violation of 18 U.S.C. § 1960 for not having a money transmission license in any state. Even though Karpeles broke state laws, it's a federal crime by extension. He may be extradited from wherever he is to the U.S. to stand trial in federal court.
What's interesting is that Coinbase, BitPay, Dwolla and every other current/former Bitcoin exchange company is in the exact same boat legally speaking, and yet people still trust them because of deliberately misleading statements they've made on a regular basis, such as last night's joint announcement. None of them are operating legally, whatever they may say. But mostly they don't say, because my company is already suing two of the three over this very fact. Many of them can be linked to Mt. Gox; Dwolla has already stopped dealing with Bitcoin as a result of NY DFS's subpoenas to the best of my knowledge; US DHS also investigated Mutum Sigillum LLC and froze its assets.
The irony is that Mt. Gox is most likely in Japan in the first place because of the insane state regulatory structure in the U.S. So our state MTLs push entrepreneurs out, leave consumers high and dry, and make crashes of the sort we're witnessing now more likely. We need a federal regulatory regime; it's a shame that the other entrepreneurs and investors affected--including the ones who run this site--are too cowardly to come out and say it publicly as I have. There's only one exception: Greg Kidd, who is invested in a number of payment companies, including Coinbase, and now works for Ripple.
http://fedpaymentsimprovement.org/wp-content/uploads/Greg_Ki...
Here's my suggestions for what should happen now:
Bitcoin as a concept would be attacked by governments under even the best of circumstances. I don't know why the major players in it have to be so dumb and/or unscrupulous as to draw this level of negative attention to it. As for Mt. Gox itself, its principle(s) will be aggressively prosecuted and sentenced. The New York US attorney behind the subpoena is Preet Bharara. Preet is responsible for shutting down online p…