Topic: MTGOX sued by COINLAB for $75 million (Read 4243 times)

We have to make Bitcoin too big to fail. The fact is the only reason that banks,brokerage firms, and financial firms are getting away with crime, because they are "TOO BIG TO FAIL". Anyone that employees or grows to point where there is no return. They have power. Lady Justice in the United States doesn't apply to wealthy or Big Business. Even on a smaller scale. If we look at it. Anyone who can afford a private attorney as oppose to Public Defender can get more of break and penalties aren't harsh. A friend of mine who is CO at jail. Tells me that the ones that end up in jail are the ones with free attorneys.

Its really sad that freedom has a dollar value. Its the fact of life. HSBC, Chase, and all the big banks out there probably launder money which I am really not surprised. Its big business. They look at it as loss if they caught. So what? They made 10 billion and got fined 1 billion. Its still a good day at the workplace. Big Business just only has to say we need to pull jobs because the business conditions aren't right. Then that elected official ends up jobless. D.C. are full of lobbyists with capital and power. They offer incentives or they will muscle you out of office. It much easier to take the incentives.

The only way Bitcoin has a chance is its community and followers stay loyal. Even if the tides do turn. Loyalty is never easy. Its a long road full of pain. Like the phoenix rises from the ashes. It never will die as long as we believe. 
Look at our history. During the American Revolution our shots of winning the revolution was long shot. Although the human experience to preserve in times of darkest is something that no one can take away. Hence our victory.

I feel big banks, the governments, and even people who hate bitcoin can say anything they want. For us who believe in bitcoin, we have to stay strong. I know one day that banks, governments, and others will have to play ball with crypto. We are on path of no return. Bitcoin will help bring back the middle class and create jobs. A good example is the faulty PSUs that butterfly labs sold. How many people had to buy new ATX power supplies. How many new Anker USB hubs were brought? Lets face it, mining is bit of energy waster, but in retrospect, how many new people that electric company has to hire to support demand.

I will always be bitcoin believer and God Bless Cryptocurrencies.

This is generally good and should be taugth in elementary schools...

There are many history lessons to be had on this forum. People should still remember the Bitcoinica debacle, I don't know if it ever was a resolution in regards to the funds held by MtGox that belonged to Bitcoinica.

And another lesson in bitcoin history: Be careful with things that looks too good to be true, don't invest more than you can lose, and do not trust people who constantly scream about how fucking awesome they are and how fucking secure their services are. Braggers are most of the time lots of smoke, and little content.

Bump for history lesson.

Not seeing where this happened again recently, rather just a total of 5 million stolen by the "authorities" (gangsters). I am so over the US Government..

http://www.cryptocoinsnews.com/2013/08/22/additional-2-1m-seized-from-mt-gox-accounts-now-over-5m-total/

Source?

More money was seized from GOX this week. Is anyone else seeing the narrative here?

Thinking he meant that it isn't "shocking", due to relation to LR. Unless I'm mistaken.

But I'm surprised by the lack of concern some show in this thread. It is about power over money, or monetary systems. Any of you thinking it has anything to do with you being safe from Pablo's bro is a joke. The real money launderers are in the papers every day and boasting about it, but somehow the world keeps turning as if black were white.

Does anyone have any further comment on this prediction since Coinbase brought Charlie Lee aboard? Could this be Coinbase going for the jugular by preempting MTGox's addition of Litecoin?

ANOTHER large Bitcoin Site Attacked by Banks: http://www.reddit.com/r/BitSpend/comments/1go95b/updatenews_why_we_have_been_slow_and_taking/

And the government becomes useless.

To reiterate: It's not about money laundering, it's about monetary control. Lose control of the monetary system, lose all power.

So WM traded with LR and that means its not news? That's how prosecutions work. They take down one then reach to all of the associated entities one by one. It was an independent company shut down by DHS. Just because you would prefer it not be true doesn't make it any less of a fact.

Never heard of it before, and it was connected to Liberty Reserve, so really no news here.

+1 !!!!!!!!!!!!!!!!!!!!!!!!!

http://web.archive.org/web/20130530014800/https://wm-center.com/

WTF was wm-center?

"This exchanger is listed at Liberty Reserve main page as recommended exchanger and is one of the biggest and well known companies in this business"

So why is it the Bitcoin exchanges all get seriously disrupted or completely shut down over a few million dollars, but banks in the classic banking system that have been proven to have laundered BILLIONS for cartels get a fine that is a fraction of their profits and a stern talking to? Come on, open your eyes. This is not about money laundering. This is selective enforcement designed to inhibit the growth of Bitcoin and cryptocurrency in general.

http://www.globalresearch.ca/money-laundering-and-the-drug-trade-the-role-of-the-banks/5334205
http://www.reuters.com/article/2012/12/11/us-hsbc-probe-idUSBRE8BA05M20121211
http://www.guardian.co.uk/world/2011/apr/03/us-bank-mexico-drug-gangs

New exchange shutdowns just today: http://www.businessinsider.com/the-feds-just-seized-another-bitcoin-site-2013-6

Perform a search for that phrase. You'll find some interesting threads.