I double all donations to the 'CECG Book Club' - help Shrem, Ulbricht and others!
My friends from the CECG - Crypto Economics Consulting Group in Berlin are doing a nice project:
The CECG Book Club Our "book club" is a long-term initiative that supplies printed literature to political prisoners incarcerated for cryptocurrency-related thoughtcrimes. People currently in captivity due to bitcoin-related matters include:
John Powell, United States (10-Dec-2014, 4 years)
Robert Faiella, United States (21-Jan-2015, 4 years)
Ross Ulbricht, United States (5-Feb-2015, 10-45 years)
Charlie Shrem, United States (20-Dec-2014, pre-jail purgatory, 2 years plea bargain)
Pascal Reid, United States (pending trial) Blake Benthall, United States (pending trial)
Some examples of the books that we've sent prisoners recently:
The Way of Men by Jack Donovan
Convict Conditioning by Paul Wade
Solitary Fitness by Charlie Bronson
I like that project. So I will double all Bitcoin donations made in the next 24h to the CECG Book Club (capped to one Bitcoin). You will find their donation adress and more info on cecg.biz/projects. Don't take my word that it is 1GfB4YCqUivZxHxw7dU6woWhRfX4g1WiMq! I will do all 'doubles' from my 1Ente vanity adress. I'll have a look every now and then and double up immediately. (I am not profiting from this in any way, and to my knowledge all donations are used as they describe it.) Let the donations flow!
Five biggest Bitcoin disasters of all time; read why should not invest in virtual currency
The frenzy around world's biggest virtual currency, Bitcoin, has reached a level where it's impossible for you not to think about investing in it. Every day Bitcoin is setting up a new benchmark, luring you to become a part of this unpredictable financial cycle. At the same time, some financial institutions such as JP Morgan Chase and Berkshaire Hathway have debunked the "bitcoin mania", calling it a "fraud" and warning people against falling for the "Bitcoin trap". Being the most popular and an unregulated, or independent currency, Bitcoin is vulnerable to online sharks - hackers - waiting for the right time to dig in their claws to steal money. A recent example: hackers stole over $80 million in Bitcoins by breaking into Slovenian-based virtual currency mining marketplace NiceHash on Wednesday. As per Coindesk, a similar virtual currency exchange, one third of the two third Bitcoins mined are lost forever. Reuters says more than 9, 80,000 Bitcoins have been stolen from exchanges since 2011, roughly around $1, 57, 780, 04900 as per the current price. The reason for disappearance can be anything like hacking, or hardware failure. So is Bitcoin a monetary revolution - and you must be a part of it - or should you keep a distance? Bitcoin advocates swear by its anonymous founder Satoshi Nakamoto's super complex algorithm called Blockchain, an online distributed ledger system that maintains the data related to every single Bitcoin transaction. Bitcoins are stored in an open online decentralised ledger where every single transaction is verified by the cryptocurrency miners spread all over the world, competing with each other for a bitcoin reward. Every miner can access the ledger and the system reflects each small development. They say the system is impossible to hack as it's not centralised like Federal Reserve Bank of the US, or any other central bank. The mainstream institutions pose the same argument saying since there's no solid system to back it up if things go haywire, so it's not reliable. In entirety, it seems like a zero sum game. But before you take the plunge, read these five biggest financial disasters associated with Bitcoin that pose serious questions on its reliability. Silk Road that was full of rocks Ross Ulbricht, the pseudonymous proprietor of the website Silk Road, used Bitcoin for illegal transactions in drugs and arms. For two years between 2011 and 2013, Silk Road became a favourite online marketplace - completely anonymous from law enforcement agencies - for drug mafias, and a headache for authorities. People sold drugs worth millions on the website, and all transactions were done using Bitcoin. Drug mafias could easily buy any contraband imaginable at a single platform, just like Amazon or eBay. Within months, the website became the leader of the "darknet", with over 900,000 users and the annual turnover of $1 billion. Ulbricht was arrested in October 2013, and the site was shut down. But soon, it was surpassed by similar "darknet" websites that operated secretively, using domain names like .onion. Ulbricht was convicted for life on drug trafficking, criminal enterprise, aiding and abetting distribution of drugs and money laundering. Instant rise and fall of BitInstant The chief executive officer (CEO) of Bitcoin exchange, BitInstant, Charlie Shrem, a 27-year-old young ambitious entrepreneur was fascinated by the idea of having a currency with no third party control after he heard about it from a friend at the age of 19 in 2011. After he bought a couple of bitcoins - at a dirtcheap price at that time - he started Bitcoin exchange from his home and soon caught the attention of young investors like Winklevoss brothers who pumped in over $1.3 million in his company. It was a meteoric rise for, and so was its fall. After he moved to a nice office with over 30 people working for him, the company partnered with giants like Walmart, Walgreens, and Duane Reade where anyone could buy Bitcoins through BitInstant. The business was good and growing with revenue reaching over $1 million in a month, but greed has no limit. Shrem started facilitating transactions on 'darknet' leader Silk Road, and soon he was in the FBI net. After he was arrested in 2016, he pleaded guilty in the court. He claimed he facilitated one customer, BTC King owner Robert M. Faiella, whose customers (or drug mafias) were using Silk Road. They both were accused of the sale of Bitcoins worth $1 million to Silk Road. Shrem was sentenced to two years in jail. This incident sent shockwaves in the Bitcoin world, and people started associating the virtual currency as a means to launder money. Mt Gox's $460 million 'gift' to investors Tokyo-based Mt Gox was another large exchange company for the virtual currency that met the same fate as BitInstant. The company had already lost over 80,000 Bitcoins, as per the Daily Beast, when Mt Gox CEO Mark Karpeles bought it from Jed McCaleb in 2011, but Jed hid these details from Karpeles. Initially started as an online space for trading of cards for a game called 'Magic: The Gathering', Mt Gox soon shifted to Bitcoin trading. The company was in trouble from the start, but Karpeles kept the secret under carpet for long. February 2014 brought doom for Mt Gox when Karpeles informed the authorities that over 850,000 Bitcoins worth $450 million had disappeared; hackers must be super rich if you compare it with current Bitcoin price. After this, people across the world started believing that perhaps Bitcoin needs to be regulated like fiat currencies to rid such fiascos. Karpeles was found guilty of the improper use of electronic funds and embezzling a total of $2.7 million of customer funds. 'WannaCry' wreaked havoc in 150 countries WannaCry virus hit computers of major corporations in over 150 countries in May this year. Panic spread across the world as message saying "Ooops, your files have been encrypted!" popped up on the compromised computers. The cryptocurrency faced another backlash when hackers demanded "ransom" money in Bitcoins to open the encrypted files. The hackers sought $300 ransom in Bitcoin from every compromised computer, giving people three-day time failing which they threatened to delete the locked files. Bitcoin allows users to make anonymous transactions and remain anonymous. This makes the system sophisticated to crack in case of such attacks, and equally favourable to cyberattackers. $80 million Bitcoin heist at NiceHash Bitcoin mining marketplace NiceHash reported on Wednesday that hackers stole nearly $80m in Bitcoins from the exchange. Ever since the company informed the law enforcement agencies, the operation has been stopped and users have been told to change password and other personal details. It was "a highly professional attack with sophisticated social engineering", NiceHash head of marketing Andrej P Skraba told the Guardian. The company has so far lost around 4,700 Bitcoins worth about $80.02 million at current prices. The official website of the exchange says the service is currently unavailable and that the matter is being investigated. "Clearly, this is a matter of deep concern and we are working hard to rectify the matter in the coming days. In addition to undertaking our own investigation, the incident has been reported to the relevant authorities and law enforcement and we are co-operating with them as a matter of urgency," the company said in a statement.
CHARGES AGAINST BITCOIN EXCHANGERS, INCLUDING CEO OF BITCOIN EXCHANGE COMPANY, FOR SCHEME TO SELL AND LAUNDER OVER $1 MILLION
Defendants Sold Bitcoins to be Used to Buy and Sell Illegal Drugs Anonymously on the Silk Road Drug Trafficking Website. Preet Bharara, the United States Attorney for the Southern District of New York, James J. Hunt, the Acting Special-Agent-in-Charge of the New York Field Division of the Drug Enforcement Administration (“DEA”), and Toni Weirauch, the Special Agent-in-Charge of the New York Field Office of the Internal Revenue Service, Criminal Investigation (“IRS-CI”), announced the unsealing of criminal charges in Manhattan federal court against ROBERT M. FAIELLA, a/k/a “BTCKing,” an underground Bitcoin exchanger, and CHARLIE SHREM, the Chief Executive Officer and Compliance Officer of a Bitcoin exchange company, for engaging in a scheme to sell over $1 million in Bitcoins to users of “Silk Road,” the underground website that enabled its users to buy and sell illegal drugs anonymously and beyond the reach of law enforcement. Each defendant is charged with conspiring to commit money laundering, and operating an unlicensed money transmitting business. SHREM is also charged with willfully failing to file any suspicious activity report regarding FAIELLA’s illegal transactions through the Company, in violation of the Bank Secrecy Act. SCHREM was arrested yesterday at John F. Kennedy International Airport in New York, and is expected to be presented in Manhattan federal court later today before U.S. Magistrate Judge Henry Pitman. FAIELLA was arrested today at his residence in Cape Coral, Florida, and is expected to be presented in federal court in the Middle District of Florida.
Faiella, who doesn't have a prior criminal history and once owned the Italian Kitchen in Cape Coral, allegedly participated in a scheme with Bitcoin soothsayer Charlie Shrem to operate Faiella's ... Robert M. Faiella, a/k/a BTCKing, an underground Bitcoin exchanger, and Charlie Shrem, the Chief Executive Officer and Compliance Officer of a Bitcoin exchange company, schemed to sell over USD$1 million in bitcoins to users of Silk Road, a darkweb marketplace that enabled its users to buy and sell illicit drugs. From December 2011 to October 2013, Robert M. Faiella ran an underground Bitcoin ... Robert Faiella, a Florida Bitcoin exchanger, is seen on Sept. 4, 2014, after pleading guilty to federal charges that he helped smooth the way for drug transactions on the online marketplace Silk Road. Robert Faiella, the bitcoin trader charged alongside BitInstant CEO Charlie Shrem, has been sentenced to four years imprisonment in a New York court. Two Bitcoin entrepreneurs have been arrested and charged with money laundering by US authorities. Charlie Shrem, chief executive of New York-based BitInstant, and Robert Faiella, a virtual ...
ROBERT KIYOSAKI Recomienda INVERTIR 💵 en BITCOIN 2020 ...
Michael T. Rox- Guitar/Vocals Robert Faiella-Drums Rich- Bass Guitar Recorded with an Iphone at Bomb Shelter Showcase Room in Garden Grove Ca. Notice no microphones or amplification on drums.i ... Robert Faiella was the Drummer for Mandrex Jones, The Brownstone Lords as well as The Marsh Mellow Stone Band and other music projects. Robert lives in Hunti... Best-selling author Robert Kiyosaki outlines a scenario of a gold and Bitcoin crash, but says it might be based on an illusion of an economic recovery. "When... Aus einer belastenden E-Mail geht hervor, dass der 24-jährige Charlie Shrem für den 52-jährigen Robert Faiella Bargeld in Höhe von einer Million US-Dollar in Bitcoins umgetauscht haben soll. Pardon my fat finger. Tsunami-Disaster warning test siren. Living close to the water you always have to be prepared: I was riding my chopper near Frankfort and Alabama in Huntington Beach on 5/4 ...