SEC Verifies Bitcoin Savings and Trust a Ponzi Scheme ...

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US judge calls a Bitcoin company 'Ponzi scheme' and orders $40m fine for 'Bitcoin Savings and Trust' and its owner.

US judge calls a Bitcoin company 'Ponzi scheme' and orders $40m fine for 'Bitcoin Savings and Trust' and its owner. submitted by CaptainParanoia to Buttcoin [link] [comments]

Invested Bitcoin in the Bitcoin Savings and Trust

Invested Bitcoin in the Bitcoin Savings and Trust submitted by TheR-RatedSuperstar to Bitcoin [link] [comments]

SEC Charges Bitcoin Savings and Trust (BTCST) as Ponzi Scheme

SEC Charges Bitcoin Savings and Trust (BTCST) as Ponzi Scheme submitted by tsukino_usagi to BitcoinStocks [link] [comments]

SEC vs Bitcoin Savings and Trust (2013)

submitted by f00000000 to CryptocurrencySA [link] [comments]

US judge calls a Bitcoin company 'Ponzi scheme' and orders $40m fine for 'Bitcoin Savings and Trust' and its owner.

US judge calls a Bitcoin company 'Ponzi scheme' and orders $40m fine for 'Bitcoin Savings and Trust' and its owner. submitted by josnton to Bitcoin [link] [comments]

Bets of Bitcoin: Bitcoin Savings and Trust will default before the end of 2012

Bets of Bitcoin: Bitcoin Savings and Trust will default before the end of 2012 submitted by elux to Bitcoin [link] [comments]

Trendon Shavers (pirateat40) arrested today for his 2011 Bitcoin ponzi scheme that stole 750,000 bitcoins, the "Bitcoin Savings and Trust"

Trendon Shavers (pirateat40) arrested today for his 2011 Bitcoin ponzi scheme that stole 750,000 bitcoins, the submitted by approx- to Bitcoin [link] [comments]

Bitcoin Savings and Trust Scamer Found [Video]

Bitcoin Savings and Trust Scamer Found [Video] submitted by ThePanCakeKid95 to Bitcoin [link] [comments]

Trendon Shavers Sent to Jail Over Bitcoin Savings and Trust Ponzi Scheme | Finance Magnates

Trendon Shavers Sent to Jail Over Bitcoin Savings and Trust Ponzi Scheme | Finance Magnates submitted by reminesjoseph to DeepDotWeb [link] [comments]

Trendon Shavers Sent to Jail Over Bitcoin Savings and Trust Ponzi Scheme

Trendon Shavers Sent to Jail Over Bitcoin Savings and Trust Ponzi Scheme submitted by knight222 to btc [link] [comments]

Trendon Shavers Sent to Jail Over Bitcoin Savings and Trust Ponzi Scheme

Trendon Shavers Sent to Jail Over Bitcoin Savings and Trust Ponzi Scheme submitted by BitcoinAllBot to BitcoinAll [link] [comments]

I know I'm a little behind, but, Bitcoin Savings and Trust.

Were there any regulations that caused them to shut down or was it just that the community found out it was a scam and stopped using that caused them to close? I know there aren't any real regulations on bitcoin, but were there any laws that were broken? Considering a lot of countries still don't really recognize bitcoin.
Thanks guys! Love learning about this a little more everyday!
submitted by JDSlim to Bitcoin [link] [comments]

Federal judge: Bitcoin, “a currency,” can be regulated under American law -- Bitcoin Savings and Trust's founder has been accused of running a Ponzi scheme

Federal judge: Bitcoin, “a currency,” can be regulated under American law -- Bitcoin Savings and Trust's founder has been accused of running a Ponzi scheme submitted by mepper to politics [link] [comments]

Bitcoin Savings and Trust will default (multiple dates and deadlines)

http://betsofbitco.in/item?id=521 http://betsofbitco.in/item?id=433 http://betsofbitco.in/item?id=537
I think the answer to all of these statements (end of August, September, and 2012) should be agree. What do you all think?
I am sad to say I bet disagree on all 3, but I'm glad I didn't bet more 1.4 BTC on it. I knew he was running something shady but I was hoping the house of cards would collapse a bit later and I could reap a high reward from a high risk bet. At least I wasn't one of the many investors who paid a minimum of 100 BTC.
submitted by throwawayBTC to BetsOfBitcoin [link] [comments]

Founder of Bitcoin Savings and Trust/Pirateat40 charged by the SEC for running Bitcoin Ponzi scheme

Founder of Bitcoin Savings and Trust/Pirateat40 charged by the SEC for running Bitcoin Ponzi scheme submitted by tntpie to Bitcoin [link] [comments]

‘Bitcoin Savings and Trust’ Was a Ponzi Scheme -- Daily Intelligencer

‘Bitcoin Savings and Trust’ Was a Ponzi Scheme -- Daily Intelligencer submitted by trooper843 to mildlyinteresting [link] [comments]

02-27 04:14 - 'Recovery of lost funds / Losing your hard earn savings to fake platforms and unregulated companies and scammers could be very depressing and painful 😣.........Trust me I have been in such situation but Chung helped me reco...' by /u/rayverminn removed from /r/Bitcoin within 367-377min

'''
Recovery of lost funds Losing your hard earn savings to fake platforms and unregulated companies and scammers could be very depressing and painful 😣.........Trust me I have been in such situation but Chung helped me recover my funds back and I am very grateful for that.People like Chung Iee are there to help in recovery of your lost funds , try to contact Mr Chung who can help recover all lost funds no matter how it happened , contact him via his email [email protected]. com........... He is always happy to help.
'''
Context Link
Go1dfish undelete link
unreddit undelete link
Author: rayverminn
submitted by removalbot to removalbot [link] [comments]

Crypto Scams: Lessons from History and Recent Trends - Coined Times

Numerous high-profile fraud and Ponzi schemes – such as Bitconnect, Centratech and Bitcoin Savings and Trust – have betrayed investors’ trust to steal crypto assets.
https://coinedtimes.com/crypto-scams-lessons-from-history-and-recent-trends/
submitted by JuniorAppointment to bitconnectcoin [link] [comments]

I can afford to lose

I first learned of Bitcoin in 2010, installed the client and got my first bitcoin from The Bitcoin Faucet. Thank you Gavin, I assume it was your property.
I fell down the rabbit hole after reading Satoshi's paper (read it about 10 times so far. It gets better each time). I enabled bitcoind's mining feature on my home CPU (and possibly my work machine) and managed to solo mine a block. At the time, they were worth about $0.50 ea. A few months later, and zero blocks found, I compiled some code that allowed me to mine using my nVidia GPU. Still no blocks. Welcome slush pool! Bitcoins were flowing again (about 1/week). At this point, I figured I could make some money at this (price ~$1.00), so I spent $170 on an ATI GPU (about 10 times faster than the nVidia).
Difficulty was increasing, people were building huge GPU rigs - I wasn't one of them. I bought a few coins through MtGox and a few more with paypal. But for the most part, I was happy getting about 1BTC/week on my ATI card. I wasn't ready to spend my "real" money just yet.
I "invested" some assets on GLBSE and put it into a mining company called BITBOND. Was feeling pretty good until GLBSE was shut down and lost 50% of what I invested. I guess Bitcoin Savings and Trust (BST) was a bad idea. But, hey we're just playing around with digital tokens. No worries, I could afford to lose it - maybe $200 worth at the time. Live and learn.
Bitcoin velocity started to increase with Eric's Satoshi Dice and Charlie's BitInstant. Up to $28... Have to buy more. Crash! Back to $2.00 and bailed. Lost another $200.00.
In 2012, I made some paper wallets and gifted all my family members some BTC for x-mas. They were worth about $13/BTC. I still keep an eye on the accounts with watch only addresses on Blockchain.info. Paper wallets were created with Diceware and Amir's sx/libbitcoin, pen and paper.
GPU mining was puttering out, so I spent $300 on a BFL 5GHz ASIC with paypal. I received mine in July of 2013, mined 2 BTC over two weeks, then sold it for $350 on ebay. The mined coins were worth about $300, so I doubled my money. The difficulty increases went lunar, and that BFL miner never mined another full bitcoin. Sorry e-bay buyer.
My mining days were over and Coinbase came online. Since then, I've been lazily buying $50/week using Coinbase's recurring buy feature. All the way up to $1200 and all the way back down to $170. I've been here before. Each time though, I have more coins than I had before - and that's all that matters to me.
Bitcoin's not made me rich. I'm not driving a Ferrari with BITCOIN plates... yet. I'm only in as much as I can afford to lose. It's been a fun ride.
To all the people and companies mentioned, and to all of you building the future, Thank You.
submitted by btc-loser to Bitcoin [link] [comments]

TOP 5 of BTCs lost/stolen/hacked/...

is this about right? whats the 5th largest sum stolen/lost? thx!
submitted by SYD4uo to Bitcoin [link] [comments]

Amir Taaki - Bitcoin devs don't like criticism, respond with "trust us, big changes are coming, you don't see them, Bitcoin's saving lives in totalitarian regimes". I was in a war zone under embargo, honestly it's bullshit. There's a big disconnect between theory and reality in this community

Amir Taaki - Bitcoin devs don't like criticism, respond with submitted by increaseblocks to btc [link] [comments]

Vladimir (Atlantis admin) official statement

I saw this posted in the SR forum and figured I would repost in case others have difficulty accessing the forums. Hi all,
It has come to our attention that some users on Silk Road believe the following;
1. That I am a scammer and was involved in a Ponzi scam on Silk Road. 2. The moderators at Atlantis market are deleting user comments. 3. Our forums term of use policy is aimed to arrest people and record information. 4. That we are DDoS'ing Silk Road. 5. Our PGP system is crackable.
I'd like to take the time to address each point and if you have any questions, please don't hesitate to reply to this thread. The staff members at Atlantis and I are happy to address your questions.
1) This belief has come into existence as 'Vladimir' was a scammer on Silk Road and thus people thought I was the same person as him. Unfortunately without knowing Vladimir's past history, this is my name and the one I have chosen to use. Hypothetically if I was Vladimir, why would I use a scammers alias at a market place which deals directly with user funds? It wouldn't help build trust in our market place and doesn't make any sense at all. Its the equivalent of pirateat40 creating a new Bitcoin Savings and Trust scheme and asking people to re-invest in it. We're proud to say that in our 7 weeks of operation, we have suffered no down time, no users have lost funds and security concerns have been addressed promptly (like increasing PGP key support up to 16Kbits).
2) We have deleted posts only related to spam, posts involving unfounded claims or accusations (FUD) and have deleted no posts in which people have given us criticism, bug reports or requests about improving security. You can check the relevant forum sections to find examples of this. We actively encourage this feedback as it helps us create a better market place. We are here to help users and are happy to reply to any security concerns or criticism you have. We have also created a sticky topic in the general forums for people to post whatever conspiracy theories they like. We will not be moderating this thread however the other forum rules still apply.
3) We used the default term of service which comes with the forum software. You can find an exact replica when you download and install the SMF software. This has now been updated.
4) We believe competition is healthy and believe that Dead Pirate Roberts is a great leader. We also need to shed the light that Silk Road has had technical issues in the past, even when we weren't around. Things like item listing image hijacking, denial of service attacks, site upgrades and switching hosting providers all caused down time. Although it would assist in us gaining more market share if our largest competitor is down, we have no desire to resort to dodgy tactics. We believe that what goes around comes around.
5) The auto-encryption service only works IF the user or vendors uploads their PGP public key (we support key sizes of 1024 - 16384 bits). However, Atlantis also supports manual encryption outside of Atlantis in which users can use a PGP client to encrypt their message. Atlantis administrators and law enforcement could not decipher the encrypted message without the users private key. With all this said, the security comes down to the end user. If they don't trust the auto-encryption service, they can STILL manually encrypt the message outside of Atlantis and thus there is absolutely no risk of anyone being able to decipher the message. To this day, PGP with large key sizes (>= 4096bits) is still uncrackable, you can find more information about it here: http://en.wikipedia.org/wiki/Pretty_Good_Privacy#Security_quality. Noting: 'there is no known method which will allow a person or group to break PGP encryption by cryptographic or computational means.'
As stated earlier, if you have any concerns please don't hesitate to reply to this thread. Lastly, we'd like to thank all the people who have put their trust in Atlantis and believe in where we are heading. The ride is only just starting and we're glad to have you as part of Atlantis
http://atlmlxbk2mbupwgr.onion/index.php?topic=235.0
submitted by reaperx2 to SilkRoad [link] [comments]

Why is trust so important to financial transactions? BREAKOUT ON BITCOIN WITHIN 24 HOURS??? - INVISIBLE RESISTANCE LEVEL FOUND!! [New] Free Bitcoin Generator 2016 No time limit [New] New Bitcoin Dice 2016 claim free faucet What is a ROSCA on the blockchain?

A good example is found in the recent final judgment obtained by the U.S. Securities & Exchange Commission against Mr. Tendon T. Shavers and his Bitcoin Savings & Trust ("BTCST"), by which Shavers ... Bitcoin Savings & Trust; First bitcoin ponzi. A few years back, a supposed Hedge Fund called the Bitcoin Savings & Trust (updated from its previous name “First Pirate Savings & Trust) was eventually met with its untimely demise and shut down. See how to identify a ponzi. A recent final judgment obtained by the U.S. Securities & Exchange Commission against Mr. Trendon T. Shavers and his ... As many have predicted was an inevitable future, the man known only as Pirateat40 on bitcointalk.org announced the closure of his investment service, the Bitcoin Savings & Trust, earlier today, citing complications in performing larger transactions as the primary reason.The interest rate given to investors was a staggering 7% per week for large investments, a number that could not have been ... Bitcoin Savings & Trust (abbreviated as BST) was a ponzi scheme operated by Trendon Shavers (then known as Pirate).It was launched in November 2011 as First Pirate Savings & Trust.Pirate claimed to have been selling bitcoins to some local tight-lipped buyers, and that he started BST to provide more volume to these buyers. By selling invested bitcoins at a high rate and rebuying them at the ... Between September 2011 and September 2012, Shavers’ Bitcoin Savings & Trust (BTCST) allegedly raised 764,000 bitcoins, worth roughly $4.5 million at the time. This one has the dubious honor of being the first ever criminal fraud case in the U.S. involving cryptocurrency — Trendon Shavers was sent to jail for sixteen month in addition to having to pay $1.23m in restitution. The judge on the ...

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Why is trust so important to financial transactions?

Why is trust so important to financial transactions? Ledger has the best hardware wallets on the market, and are the only brand I trust to store my Bitcoin ... The GFCI/RCD: A Simple but Life-Saving Protector - Duration: 15:59. Technology ... Link do video acima no final da postagem, antes confira! O que é Bitcoin? http://bitcoinsciente.blogspot.com http://como-ganhar-bitcoins-gratis.blogspot.co... Bruce Mack of Platinum Trust discussing the benefits of using a trust to protect your bitcoin. Bitconnect allows our the lend out Bitconnect for immense profits - But is it a Scam? This is not financial advice. Bitcoin Trust and Savings:

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