Topic: BTC-e.com down ! Police detains the owner . - page 3. (Read 21891 times)

Hold on to your soul, we got a long way to go

FWIW, at least you're in the process of recouping some of that 200K wasted in defending yourself against trumped up charges via participating in one of BCT's sig campaigns earning your a wooping $5.76 per week provided you post 40 times a week.

Question: Do you know Leroy Fodor? He's easy to spot because he's every where.

This is such a sad statistic of asset forfeiture. I had a read of BurtW's story in that link, such a terrible thing to happen.

I am also going through a eerily similar situation as Burt. Ironically I am actually fully licenced, yet law enforcement still managed to make up some trumped up charges for forfeiture on my currency exchange business. Charges were dismissed at the end of last year, yet fighting for forfeiture continues. Almost 200k wasted on defending trumped up charges in my case.

It is sick how the legal system is used these days as a way to extort money from law abiding citizens. I live in Australia by the way, so it is sad to discover this kind of thing happens every where in the world.

Yes, I don't have any relation with BTC-e. If the comment that the arrest of the cryminal will dump the bicoin price, is just unclear respons. There will be no problem with bitcoin price. In fact the price is pump to 3200 now. That high price since the AUg 1. The issue of the caugt crypto criminal will not effect to bitcoin price. The cruminal is nothing to a big community . Satoshis.

I, too, heard some fake rumors about the Earth being a globe. Hey, could it have been the same dude spreading fake rumors? I have an ex-girlfriend who goes around and spreads fake rumors that I'm a terrible lover. I now wonder if it's her.

BTC-e is back again great to hear because it is not a new thing that it is back again because it is decentralized crypto currency which cannot be control and no one knows the real person who has created a days or weeks ago there were some fake rumors that btc-e person got arrested which was totally fake so I would welcome to BTC-e once again.

Here's to the next five years of bad bitcoin behavior. First meatup will be at The Legends Room in Las Vegas, where its principals are giving Leroy "Honestly" Fodor a run for his money RateCoin in who's crypto's number one serial liar:

https://www.cryptocoinsnews.com/legends-room-exposes-digital-currency-to-new-audience-q-a-with-stephan-bonnar/


https://twitter.com/LegendsRoom/status/883433325422985216


The Legends Room: Where a photoshoot ≠ meeting somebody.

Speaking of Kenna James, two actors can't have the exact same name regardless which segment of the industry they practice the art: https://en.wikipedia.org/wiki/Kenna_James

And quietly waiting for all of you to come make a "claim" for your "money". Whether you are legitimate or not, welcome to the list.

I'm not positive, but I'm pretty sure the last 5+ years of bad bitcoin behavior is now out in the open gentlemen. The cat is officially out of the bag.

Meanwhile, the FBI is scouring the servers they confiscated, connecting the dots between all the rogue nefarious actors in the crypto space:

Judging by the 66k BTC wallets that were moved, and the tagged BTC-e ETH wallet, I'm guessing most of the funds were indeed in cold storage. What we don't know is how much exposure they have to frozen fiat funds (they announced that Mayzus froze their accounts). And even if they still have access to most of their fiat funds (if they were well-hidden through various shell companies in less-US-friendly regions), they would have a very hard time moving any of that to customers. So, even if refunds happen, who knows how it would work?

They are definitely in possession of user data. They confirmed that they have access to their databases and wallets. The FBI did seize servers that contained those, but the exchange kept back-ups, and the wallets should have been encrypted.

I care. Trump needs to declare a War on Burglaries.

Poor Curtis Green. First, the FBI faked his death, then I came along and put in a nail in his coffin, causing FOX to cease production of Curtis' bio and connection to SR ...

Quote from: Gleb Gamow on May 14, 2015, 03:00:27 PM

Quote from: bigasic on September 01, 2014, 06:56:57 AM

As an African American, I find your rap text very insulting. I really hate the use of the word "nigga" and any form of it. It's stuff like this that gives African Americans a bad name. I hate when I hear people call each other a nigger. If a white man said it to a black man, those would be fightin' words..

I just don't get why people think its okay to use is when they want to. Its best to not even say the "n" word at all.

FOX Studio: It's goin' be an epic production now that we have ALL the facts directly from that Curtis Green dude.
Bruno: You mean that bathtub manufacturer African-American-Mormon dude who admitted to fucking his Mormon wife's daughter on BitcoinTalk?
FOX Studio: Exactly... Wait, WHAT?!

As for asset forfeiture, read this sad story -> https://bitcointalksearch.org/topic/m.12313810

Back to me caring: Here's the thread started by my direction so to crowdfund the return of Burt's daughter's U$600 -> https://bitcointalksearch.org/topic/relieving-the-pain-inflicted-by-the-jackboot-of-the-state-upon-young-zoes-neck-985596

To some bitcoin has a reputation for being a safe haven for money launderers, terrorists and drug cartels. Looking at the number of criminal cases, one might say, there isn't much evidence of it though.


Ross Ulbricht's biggest charges might have been conspiracy to commit murder. Silk road users threatened Ulbricht. Other silk road users suspiciously offered to murder the people who threatened Ulbricht. The murder never happened. Probably because both the threat and the offer were made by undercover agents.


Reminds me of this little statistic.



I'm sure no one cares though.

This is the latest information from BTC-e that we have:

https://bitcointalksearch.org/topic/update4-03082017-2063529


Seems like the user-data is safe. But I am not sure about the status of the cold-wallets and the hot-wallets.

I have heard that btc-e have been raided by the Federal Bureau of Investigation and has confiscated their equipment but the arrest in your post was in Russia. I guess the person that was arrested was arrested not because he is involved in BTC-E but rather due to his dealings with criminal transactions. Some are sad of this event but some are happy because he can no longer abuse the use of bitcoin in criminal transactions.

 But I disagree that with BTC-e being down will affect bitcoin, after the segwit activation losing one exchange will not hamper the increase of bitcoins value. Bitcoin will continue to increase even though BTC-e is down.

If I had a large stash I would probably not trade, not because of the risk but because "why bother ?". I'd be enjoying life in other ways.

I've done a bit of margin trading recently, treating it as casino aka starting with a sum and ready to lose it, well it was fun while it lasted but I did lose it. If I had more coins to spare I could have held on some trades longer and probably lost less, unless of course I'd have gambled more funds...

No matter the size of the aquatic animal, our job as traders is to manage risk. If you are storing coins on an exchange, you are not doing a good job at managing unnecessary risk.

Even lending makes no sense. Calculate the risk of any given exchange closing over the next year by using all previous exchanges as examples. Let me know if the yearly interest equates to more than the avg risk of an exchange going down resulting in a loss of 50% or more (hint: you are better off putting all your coins on red).

All sizes of marine life should avoid storing coins on exchanges, from guppy to whale shark.

That being said, if you want to risk 1-10% of your capital gambling on Margin-trading, feel free. I just see no reason to do that when the returns from Bitcoin/altcoins already dwarf the returns of traditional markets 10 fold. There comes a time when you got to ask yourself, how much is enough? What level of risk is acceptable for long term prosperity? This of course comes down to subjective opinion because each of us has a different risk tolerance...

I hope that most of the funds were in the cold storage, and at least 50% of what is owned to the users could be returned to them (I myself lost around $300). But are you sure that they are still in the possession of the user data? I heard that the FBI seized that as well.

BitWhale : you forgot the whales. People holding thousands of BTC can afford to have hundreds on exchanges without the same level of risk as people holding much less.

I also like to look at it this way...

here's 2 scenarios for the average trader:

Trader #1: the cautious type
-always stores coins outside of exchanges
-has a solid entry, exit, & stoploss strategy before taking the trade
-has some sort of "bankroll" management and never puts more than a certain percentage into a single trade

Trader #2: the ambitious newbie
-likes the idea of margin trading because he thinks it can boost his profits
-habitually stores coins on exchanges
-has little concept of "bankroll management" and routinely puts more than 50% of his current account balance on a single leveraged trade

Trader #1 has set himself up to remove all unnecessary risk, as well as found a comfortable level of "risk" so he can sleep at night and isn't constantly worried about his position. He has a plan & knows he can afford to lose a few trades and still live to trade another day.

Trader #2 is seeing Altcoin-bought Lambos and has his judgement clouded. He neglects to realize that his leveraged position not only carries Margin-call risk, but also carries the risk of the exchange taking off with his coins. His leveraged position will also have giant swings in value, giving him a larger chance of trading on fear/emotion & closing his position at a loss.

---------------------------------------------------------
Now let's talk about the fallacy of Margin trading:
With 2.5x leverage (Poloniex), you aren't really doing that much... in example:

balance: 1 btc

100% of balance @ 1 leverage = 1 btc (buying outright gives you zero chance of force liquidation because the coins are actually yours)

50% of balance @ 2.5 leverage = 1.25 btc (+0.25 extra trading capital)
75% of balance @ 2.5 leverage = 1.875 btc (+0.875 extra trading capital)

Current hypothetical saltcoin price: 0.001

Now let's say you open a long salt/btc position for 75% of your balance using full 2.5x leverage for 1.875 btc total. You now need to keep 20% of the borrowed value (1.875 * 20% = 0.375 btc) in your account at all times or you will have a forced liquidation.

1.875 btc / 0.001 = 1875 saltcoins

now say tomorrow saltcoins drop to 0.0009, a 10% decrease:
0.0009 * 1875 = 1.687 btc (-0.188 total loss & current balance of 0.812 btc)

now say the next day saltcoin drops to 0.00072, a 20% decrease:
0.00072 * 1875 = 1.35 btc (-0.535 total loss & current balance of 0.465 btc)

now say the next day saltcoin drops to 0.000666, a 7% decrease:
0.000666 * 1875 - 1.2487 btc (-0.6263 total loss & current balance of 0.3737 btc)

The salt is real.

By just day three, Trader #2 is now in forced liquidation, if he is lucky he will walk away with 0.35 btc out of the 1 btc he deposited, a 65% forced loss due to a 37% move.

Was it worth the extra 0.875 btc to have the risk of being margin called? I see coins move 35% EVERY DAY gentlemen, you lose your edge by not being able to hold through the down days... The same thing can be said for using 50% of your balance margin trading on 2.5x leverage, is the 0.25 btc extra trading capital worth the added risk of a margin-call?

Sounds like a good way to rig it against your favor, and these numbers don't even begin to include interest rate payments.

---------------------------------------------------------
Say both Trader #1 & Trader #2 get lucky and call the market correctly. Saltcoin rises 10x.

Trader #1 has turned his 1 btc investment into 10 btc, a fantastic profit, with minimal risk of losing their coins to an exchange hack & zero risk of a forced liquidation.

Trader #2 has turned his 1 btc investment into 18.75 btc (minus interest) with giant risk of being margin called (*think bitfinex flash crash*) and absolutely zero ways to mitigate the risk of storing his coins on an exchange.

Trader #1 trades for longevity & a prosperous future.
Trader #2 just wants a Lambo and doesn't mind gambling.

What type of trader are you?

(Lol sorry Canada)