Category Archives: Bitcoin

Patrick Savalle over organische systemen, sociale samenwerking en bitcoin
In De Week van Bitcoin 51 hebben we Patrick Savalle te gast. Vriend van de show en eerder geinterviewd gaat Patrick ons deze keer een masterclass economie, bitcoin en chaos theorie geven. Ook...

By: deBitcoin

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Patrick Savalle over organische systemen, sociale samenwerking en bitcoin - Video

A Texas man who ran a firm that claimed to make virtual currency-based investments was accused of masterminding a $4.5 million Ponzi scheme in what U.S. prosecutors said was a first-of-its-kind case tied to bitcoins.

Trendon Shavers, founder of Bitcoin Savings and Trust, raised at least 764,000 bitcoins by promising investors a return of as much as 3,641 percent, prosecutors said. Instead, he used bitcoins from new investors to cover payments owed to earlier clients, while also tapping into the currency to pay for his own Las Vegas gambling and spa treatments, they said.

At the peak of his scheme in 2011 and 2012, Shavers held about 7 percent of all bitcoins in circulation, they said.

Shavers managed to combine financial and cyber-fraud into a bitcoin Ponzi scheme that offered absurdly high interest payments and ultimately cheated his investors, U.S. Attorney Preet Bharara in Manhattan said in a statement today.

Shaverss arrest comes as the U.S. intensifies its scrutiny of bitcoins. Prosecutors last year charged Ross William Ulbricht with running the $1.2 billion online bazaar called Silk Road in which drug dealers used the digital currency to buy heroin, phony passports and hacking services. He denies wrongdoing. Today, Bharara accused another man, Blake Benthall, with operating a virtually identical site called Silk Road 2.0.

Shavers, 32, was arrested today at his home in McKinney, Texas, by Federal Bureau of Investigation agents. Hes charged with securities fraud and wire fraud, which carry maximum prison sentences of 20 years. Hes scheduled to appear in federal court in Sherman, Texas.

In September, Shavers and Bitcoin Savings were fined $40.6 million in a civil suit by the U.S. Securities and Exchange Commission. The case was the first to determine whether the SEC had authority to regulate transactions in virtual currency.

According to prosecutors, Shavers, using the name pirateat40, solicited investments in his company on Bitcoin Forum, an online site, by offering weekly interest of as much as 7 percent. Those lending the firm bitcoins were told they could withdraw the investments at any time, prosecutors said.

Shavers told investors their bitcoins would be used to support a market-arbitrage strategy that included lending them, trading them on online exchanges and selling them locally in private transactions, according to the U.S.

Shavers largely failed to execute the investment strategy, prosecutors said. Rather, he used new bitcoins to cover interest payments and meet investor withdrawal requests, Bharara said. He also used investor funds for day trading in his own account on a bitcoin-currency exchange and exchanged bitcoins into U.S. currency that paid personal expenses such as gambling and a $1,000 steakhouse meal.

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Bitcoin Firm Head Charged in First-of-Kind Ponzi Case

Stephanie Murphy on NYC catcalling, Bitcoin, and xenophobia
The show: http://www.nomadcapitalist.com/radio/ The event: http://www.passporttofreedomevent.com In what may be his most controversial show ever, Andrew is j...

By: Nomad Capitalist

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Stephanie Murphy on NYC catcalling, Bitcoin, and xenophobia - Video

Get Paid in Bitcoin with BitWages! - Bitcoins Gravy Episode 40
http://letstalkbitcoin.com/blog/post/bitcoins-and-gravy-episode-40-get-paid-in-bitcoin-with-bitwages.

By: Let #39;s Talk Bitcoin!

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Get Paid in Bitcoin with BitWages! - Bitcoins & Gravy Episode 40 - Video

Benjamin Lawsky Keynote - Money 2020 - Nov 2, 2014 - #bitcoin #regulation
Support http://RRBI.co for sponsoring this show. Buy Silver and Gold -- for Bitcoin!

By: World Crypto Network

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Benjamin Lawsky Keynote - Money 2020 - Nov 2, 2014 - #bitcoin #regulation - Video

Bitcoin Brothers Petahash Mining -- UK Treasury to consult Bitcoiners -- MadBitcoins in Vegas!
Sponsored by http://RBBI.co -- a trusted name in precious metals Donate: https://blockchain.info/address/1LAYuQq6f11HccBgbe6bx8DiwKwzuYkPR3 Subscribe: http://patreon.com/madbitcoins ...

By: MadBitcoins

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Bitcoin Brothers Petahash Mining -- UK Treasury to consult Bitcoiners -- MadBitcoins in Vegas! - Video

ShitExpress bitcoin poop delivery unboxing
We tested the service and it worked very well. 5/5 stars, full grade horseshit as promised. http://motherboard.vice.com.

By: Derek Mead

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ShitExpress bitcoin poop delivery unboxing - Video

Visionman ASIC Bitcoin BTC miner 200 GHs Prospector 200 IN HAND Ship from USA
Fr moe dtls o mazo.m http://bit.ly/1lCIwbe Visionman ASIC Bitcoin BTC miner 200 GHs Prospector 200 IN HAND Ship from USA Features:-Color: Black-Wattage:1000watts-Hashrate:...

By: fausto ahrens

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Visionman ASIC Bitcoin BTC miner 200 GHs Prospector 200 IN HAND Ship from USA - Video

Yoga Bucks, Just like Bitcoin
At an employee meeting, Sven introduces his most recent plan for ancillary profits, a juice menu featuring fad-friendly ingredients like Tuscan Kale and Yoga Bucks. It #39;s like actual money,...

By: Down Dog: the web series

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Yoga Bucks, Just like Bitcoin - Video

#Mavpocoin #Bitcoin .

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#Mavpocoin #Bitcoin . - Video