French Take Aim at Illegal Bitcoin Boys

FrgMstr

FrgMstr

Just Plain Mean
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Messages
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More woes for those of you mining for coin....Bitcoin this time. As governments get anxious about a global virtual currency, we will undoubtedly see more of this happening. Just don't get busted selling dope!

During a raid last week on one of the suspects' homes, investigators seized a portfolio of Bitcoins - worth some 9,000 euros per unit - as well as credit cards and computer hardware.
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They were arrested for operating a bitcoin exchange and lending service (and an illegal gambling site too apparently, unless France considers anything related to bitcoin to be "gambling")

They weren't arrested for mining bitcoins, they were arrested for running an illegal bank
 
sir-gold said:
They were arrested for operating a bitcoin exchange and lending service (and an illegal gambling site too apparently, unless France considers anything related to bitcoin to be "gambling")

They weren't arrested for mining bitcoins, they were arrested for running an illegal bank
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I did not say they were arrested for mining Bitcoin. Reading is fundamental. And everything written by the press about government action is true.
 
sir-gold said:
No, but you did imply it in the summary:



Unless you trying to say that the abrupt closure of small-time bitcoin exchange was somehow a serious blow to bitcoin miners in general.
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No I did not imply that.

I said "woes" not "serious blows" to bitcoin miners, and that is exactly what I meant. Once governments start seeing takedowns of all these exchanges there will be fluctuations felt throughout the bitcoin economy as others will follow suit. And I would suggest, those fluctuations will be the underpinnings of the way governments will exert control over the currency that it cannot control. There have been no crimes proven here, but certainly these actions, and the lengths of time these will take will harm the currency.
 
What is a "portfolio of Bitcoins" .... did they have loaded physical coins or something? Kinda off topic but its confusing me.
 
and if they are smart they had offsite backs ups and just go and move them to a new address. thats the beautiful thing about them you cant really seize them, they can take your whole pc and every thing all you need if your key and then just transfer them to a new location and they are left whit and empty wallet. and they cant even prove you took them back
 
tunatime said:
and if they are smart they had offsite backs ups and just go and move them to a new address. thats the beautiful thing about them you cant really seize them, they can take your whole pc and every thing all you need if your key and then just transfer them to a new location and they are left whit and empty wallet. and they cant even prove you took them back
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When a governement seizes bitcoins, they do so by transferring them to a government-controlled wallet. They don't simply seize your wallet and leave the bitcoins in it.
 
>Deems your bitcoins illegal
>Instead of taking your bitcoin wallet and deleting it, they transfer the bitcoins into a government controlled bitcoin account

.........how much you want to bet they're selling them off as we speak?
 
Police were tipped off to the platform's existence by a retired policeman who alerted financial investigators after buying Bitcoins on the site, he said.
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lol

typical
 
First they ignore you, then they laugh at you, then they fight you, then you win.

Mahatma Gandhi

I think we are at the fight stage... how many times in the last year have you heard bitcoins compared to tulip bulbs? Decentralized encrypted currency is the future whether it is called bitcoin or some other name.
 
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