Alleged Bitcoin scam leaves millions missing

[Art Vandeleigh]

Bitcoin = Bitcoin + block chain

Thinking of bitcoin without block chain is like thinking about trains without tracks.

Lots of uses for bitcoin+block chain.

They will be with us from now on, as long as there is an internet.

[jtoler]

An estimated 387 million lost with an estimated 3000 investors, thats an average of 129 thousand per person, is that reasonable, seems far fetched no?

[Optional]

An estimated 387 million lost with an estimated 3000 investors, thats an average of 129 thousand per person, is that reasonable, seems far fetched no?

If it was anything like most 'HYIP schemes' most of that total would be virtual money built up through calculating the ridiculous interest promised to investors.

[Sledge187]

I don't understand bitcoin but it seems a ton of scams are tied to it. I just hope the majority of people using it here are not holding a substantial position. History will tell you that you are going to lose it all.

[dance1959]

Some broker house offered 2,3 times investments after 4 months period. Bitcoin collapsed from point they bought it,thats all.

[jjgold]

be careful..if you use it keep balances not too high

simple

[NoRespect]

What was the bitcoin price the day before this suspected theft? It is 221 right now. I signed up at coinbase on last Thursday.

This morning I bought $1000 worth at 216.xx. I have already sent it all to Heritage. I'm waiting on them to deposit cash into my account.

[Texans365]

This morning I bought $1000 worth at 216.xx. I have already sent it all to Heritage. I'm waiting on them to deposit cash into my account.

At bitcoin books deposits are instant, some of them show the BTC/USD rate which will remain fixed for your deposit.
The same is true for withdrawals.

[evo34]

Why aren't criminals hacking into all of our bank accounts?

One reason is that funds transfers involve at least two banks, and they are not instantaneously processed. I.e., if you "hack" into accounts, it doesn't mean you can do much with them.

[a4u2fear]

Pass on this scam

[NoRespect]

I made $20 on the transfer. Heritage gave me 221.xx I'm guessing. I owned bitcoins for less than 2 hours so my vulnerability was very short. If you didn't know Heritage is having another of their get out of your bet at half on Thursday.

[jjgold]

Sasha best of luck tonight

I am learning hand signals now for trading floor CME

[Hareeba!]

I made $20 on the transfer. Heritage gave me 221.xx I'm guessing. I owned bitcoins for less than 2 hours so my venerability was very short. If you didn't know Heritage is having another of their get out of your bet at half on Thursday.

venerability?

http://www.thefreedictionary.com/Venerability

[NoRespect]

You got me! *vulnerability

[Sledge187]

Lots of sex dungeon talk lately.

[Domestic]

I am learning hand signals now for trading floor CME

Classic

[Domestic]

An estimated 387 million lost with an estimated 3000 investors, thats an average of 129 thousand per person, is that reasonable, seems far fetched no?

It was indeed far fetched, it was closer to 8 million: http://www.coindesk.com/mycoin-hong-...e-8-1-million/

Whole story has little to do with actual bitcoin anyway.

[Russian Rocket]

Whole story has little to do with actual bitcoin anyway.

...but has a lot to do with rainbows and unicorns

[NoRespect]

I think Domestic means the price of a bitcoin. The price of one bitcoin did not change from right before this news to today other than the typical trading fluctuation. 219.xx right now. I think it is a great way for Americans to make deposits with several solid books. I see where the new Wagerweb will be accepting bitcoins. I make no claim about investing just depositing and withdrawing. It is too volatile for investing for my personal taste.

[Domestic]

...but has a lot to do with rainbows and unicorns

“MyCoin was never really a [bitcoin] exchange,” Leo Weese, the president of the Bitcoin Association of Hong Kong, which has about 50 members and draws hundreds to local “meet-ups,” told Quartz. “It wasn’t possible to trade bitcoins on it and the entire company likely never held any,” he said. In other words, it looks like it was all an elaborate hoax—probably a Ponzi scheme.

Source: http://qz.com/342464/the-mycoin-scan...tual-bitcoins/

[Russian Rocket]

“MyCoin was never really a [bitcoin] exchange,” Leo Weese, the president of the Bitcoin Association of Hong Kong, which has about 50 members and draws hundreds to local “meet-ups,” told Quartz. “It wasn’t possible to trade bitcoins on it and the entire company likely never held any,” he said. In other words, it looks like it was all an elaborate hoax—probably a Ponzi scheme.

Source: http://qz.com/342464/the-mycoin-scan...tual-bitcoins/

people were duped into thinking they're investing in bitcoins

end of story

[Domestic]

people were duped into thinking they're investing in bitcoins
end of story

Only point I'm trying to make is that the story is about criminals that used the hype/buzz about bitcoin to carry out their hoax. They did not sell/buy or use a single bitcoin. The bitcoin protocol was not breached or compromised in any way.

[raiders72001]

People get duped in many currencies daily. Some still send to the scams in Nigeria.

[Russian Rocket]

People get duped in many currencies daily. Some still send to the scams in Nigeria.

Daily??? I don't hear about people being duped in to investing into Dollars, Francs, Euros...etc
Yeah some Forex Exchange brokers do go under, but it's a very rare event. And the ones that do go under are usually unregulated. The entire Forex industry would seize to exist, if it was a daily/weekly or even monthly occurrence.
The Nigerian money moving scam has nothing to do with what we're talking about here. By investing into or buying bitcoins, you're essentially exchanging one currency for another (at least that's what most of the people think they do) and since this thing is still unregulated and every Joe can run wild with it, you get results such as the one that was mentioned in the original article.

[Hareeba!]

Good grief!
This story has no relevance whatever to punters using btc as a means of funding bookies from places such as the US.
I can't understand why this thread even exists in this forum, let alone gets the attention it has.
This isn't an investment forum.

[Russian Rocket]

Good grief!
This story has no relevance whatever to punters using btc as a means of funding bookies from places such as the US.
I can't understand why this thread even exists in this forum, let alone gets the attention it has.
This isn't an investment forum.

why don't you first PM SBR John and ask him why not long ago he created a thread here telling everyone that buying BitCoins at $500-600 was a decent investment.
And in the future when you see something that you don't wanna read -don't click on it.

This thread is here obviously because we want it to be here.

[Hareeba!]

why don't you first PM SBR John and ask him why not long ago he created a thread here telling everyone that buying BitCoins at $500-600 was a decent investment.
And in the future when you see something that you don't wanna read -don't click on it.

This thread is here obviously because we want it to be here.

Until one clicks on a thread how is one to know just what gems or nonsense it may contain?
There's always the chance of learning something.
But this thread has nothing whatever to do with bookmakers or the gambling industry. Nothing at all!

[Optional]

Daily??? I don't hear about people being duped in to investing into Dollars, Francs, Euros...etc

Heard of Bernie Maddoff? Or the thousand and one ponzi HYIP schemes?

The currency makes no difference, a scam is a scam is a scam.


Don't get what it is you hate so much about the concept honestly. The only ones who should not want it to work are those with a stake in the traditional banking system. This is great for the people, whatever value speculators put on it.

Speculators are the bane of all currencies btw. The less they like Bitcoin the better for the rest of us.

[Russian Rocket]

Heard of Bernie Maddoff? Or the thousand and one ponzi HYIP schemes?

The currency makes no difference, a scam is a scam is a scam.


Don't get what it is you hate so much about the concept honestly. The only ones who should not want it to work are those with a stake in the traditional banking system. This is great for the people, whatever value speculators put on it.

Speculators are the bane of all currencies btw. The less they like Bitcoin the better for the rest of us.

you're mixing apples and oranges here mate

and just for the record - I don't hate Bitcoins...I'm neutral on this shit
I said many times here that it's a great vehicle for moving money around...will I ever put MY money into to this unregulated nonsense? Hell NO.

[Russian Rocket]

Until one clicks on a thread how is one to know just what gems or nonsense it may contain?
There's always the chance of learning something.
But this thread has nothing whatever to do with bookmakers or the gambling industry. Nothing at all!

Next time read the fkn subject line and force yourself to think with something other than your intergluteal cleft.

Report back in here when your IQ reaches room temperature.

[Seaweed]

Rocket you gonna watch the big match coming up??

[Russian Rocket]

Rocket you gonna watch the big match coming up??

I'm going to be watching Biathlon in about 8 hours...until then I'm working

what big match are you referring to?

[Optional]

you're mixing apples and oranges here mate

and just for the record - I don't hate Bitcoins...I'm neutral on this shit
I said many times here that it's a great vehicle for moving money around...will I ever put MY money into to this unregulated nonsense? Hell NO.

I don't think I am but I get why you think that. (about the fruit)

If a HYIP scheme says they are investing in sports gambling and goes down, I doubt you think that means the bookmaking industry is in trouble or at fault in any way. But that appears to be the logic you have been using with this scheme and Bitcoin.

At least we can agree it's not something to be buying and holding.

[Hareeba!]

Next time read the fkn subject line and force yourself to think with something other than your intergluteal cleft.

Report back in here when your IQ reaches room temperature.

I suggest you read the name of site and the forums within it before posting.
So what does any of this story have to do with sportsbooks or the gambling industry which this forum is all about?
I opened the thread wondering if there was some connection with a sportsbook or gambling syndicate. But clearly nothing of the sort. Just a lot of silly talk about investment in btc. Find an investment site to ramble on about that.

Oh, and about those personal insults. They say more about you than I and do nothing for your argument.

[Seaweed]

Anzhi Makhachkala vs Sibir

i have Anzhi to win at -333

with a draw i get money back

what you think?