As your attorney I advise you..
...to take a hit out of the little brown bottle in my shaving kit.
You won't need much, just a tiny taste. xD
Topic: Tradehill - lawsuit waiting to happen (Read 7012 times)
...to take a hit out of the little brown bottle in my shaving kit.
You won't need much, just a tiny taste. xD
OP IS GOX'S INTERN.
/mystery solved
/mystery solved
I getting pretty sick of people that think men and women can only act with government approval. These are the same people that think you have no legal recourse unless their is a formal statute on the books.
Don't believe it. You don't need the nanny state. Anyone with even a cursory knowledge of the common law knows that it is a crock.
Don't believe it. You don't need the nanny state. Anyone with even a cursory knowledge of the common law knows that it is a crock.
As your attorney I advise you..
Structuring: Often known as "smurfing," it is a method of placement by which cash is broken into smaller deposits of money, used to defeat suspicion of money laundering and to avoid anti-money laundering reporting requirements. A sub-component of this is to use smaller amounts of cash to purchase bearer instruments, such as money orders, and then ultimately deposit those, again in small amounts.[4]
Bitcoin can be considered a "Bearer Instrument".
Bitcoin can be considered a "Bearer Instrument".
Oh god, bitcoins are "bearer instruments" and can be used to launder money! OUTLAW THEM!
Oh god, money orders are "bearer instruments" and can be used to launder money! OUTLAW THEM!
Oh god, personal checks are "bearer instruments" and can be used to launder money! OUTLAW THEM!
Oh god, gold is a "bearer instrument" and can be used to launder money! OUTLAW IT!
Are you seriously trying to claim that because bitcoin could potentially be used to launder money that simply trading them at an exchange is (or should be) illegal? Good Lord, we'll have to outlaw everything! I could stab someone with my ink pen, better outlaw ink pens!
Are you trying to make a point, or are you just throwing out random irrelevant facts?
I guess I am still thinking aloud.. but it will really help if Adam or Jered can share some details about their legal agreements that allow them to send money from one country to other, and still be perfectly legal.
You are ridiculous, stop wasting everyones time
As your attorney, I advise you to rent a very fast car with no top.
I can explain to you exactly why it isn't money laundering.
Money Laundering requires that that originating funds come from an illegal source. The laundering occurs when you exchang illegal gotten money for legal funds. What you described is nothing more than exchanging one currency for another.
Stick with para-legal, i.e, fetching the coffee, the pizza and word processing what the lawyers tell you to.
Weird, he sounds just like you.
someone is trolling hard core.. especially with that ignorant tradehill/dwolla comment.
You legal skills are in question and are on topic, you are offering legal advice and legal interpretation. OF course your skills and experience matter. Are you daft?
Perhaps if you didnt act like you were an expert this would be trolling.
"i'm a paralegal and I have some questions, to me it looks like tradehill might have broken this law"
Not "OMG bitcoin is fucked, tradehill broke the law, the entire network is shaking and even if tradehill didnt break the law, I'm sure some lawyer can make it look shady as hell and I know all this cause I am an expert paralegal."
You legal skills are in question and are on topic, you are offering legal advice and legal interpretation. OF course your skills and experience matter. Are you daft?
Perhaps if you didnt act like you were an expert this would be trolling.
"i'm a paralegal and I have some questions, to me it looks like tradehill might have broken this law"
Not "OMG bitcoin is fucked, tradehill broke the law, the entire network is shaking and even if tradehill didnt break the law, I'm sure some lawyer can make it look shady as hell and I know all this cause I am an expert paralegal."
Deposit USD with Dwolla -> Buy Bitcoin -> Sell Bitcoin -> Withdraw Pesos in Chile
How is this not money laundering?
How is this not money laundering?
You mean like
Deposit EUR in Finnland -> Western Union -> Withdraw USD in USA
or
Deposit USD in USA -> paypal -> Withdraw RMB in China
or
money bookers or Liberty Reverse or WebMoney or C-Gold or....?
Haha he is demanding free legal advice from a company that has had to deal with legal concerns about their business.
Well I am sure they had to pay a lawyer to figure some of this stuff out, but it sure doesn't mean they have to then publicly hand out said legal advice to anyone that asks.
Well I am sure they had to pay a lawyer to figure some of this stuff out, but it sure doesn't mean they have to then publicly hand out said legal advice to anyone that asks.
BUMP
Perhaps the people name calling me a troll should take another look at Tradehill and ask the necessary questions about their operations. Missing $37,000 in first two months is hard to pull off without spectacular sloppiness.
Perhaps the people name calling me a troll should take another look at Tradehill and ask the necessary questions about their operations. Missing $37,000 in first two months is hard to pull off without spectacular sloppiness.
Something makes me think there are a couple dwolla employees on posting on this forum. They're pretty easy to pick out.
+1 - I think you are on to something can you say damage control ?
BUMP
Perhaps the people name calling me a troll should take another look at Tradehill and ask the necessary questions about their operations. Missing $37,000 in first two months is hard to pull off without spectacular sloppiness.
Perhaps the people name calling me a troll should take another look at Tradehill and ask the necessary questions about their operations. Missing $37,000 in first two months is hard to pull off without spectacular sloppiness.
Something makes me think there are a couple dwolla employees on posting on this forum. They're pretty easy to pick out.
BUMP
Perhaps the people name calling me a troll should take another look at Tradehill and ask the necessary questions about their operations. Missing $37,000 in first two months is hard to pull off without spectacular sloppiness.
Perhaps the people name calling me a troll should take another look at Tradehill and ask the necessary questions about their operations. Missing $37,000 in first two months is hard to pull off without spectacular sloppiness.
Please give me the number of the firm you paralegal for(assuming you are still employed) to report your total abusive approach to the law.
For a paralegal you dont seem to know how to do research re: 37k STOLEN by dwolla and picked up by tradehill auditing within 7days after it was stolen. That is pretty amazing auditing when you handle more than $1 a day of transaction(pretty sure you are in the $1 daily bread and butter basket)
BUMP
Perhaps the people name calling me a troll should take another look at Tradehill and ask the necessary questions about their operations. Missing $37,000 in first two months is hard to pull off without spectacular sloppiness.
Perhaps the people name calling me a troll should take another look at Tradehill and ask the necessary questions about their operations. Missing $37,000 in first two months is hard to pull off without spectacular sloppiness.
I wonder what his issue is, why he's pressing so hard about this.
fear.
when 90% of what you do can be performed at a fraction of the cost by someone half a world away once the regulatory protections are circumvented by bitcoin + encryption + anonymity (tor), you'ld start panicking too!
Bitcoin Lawyer Introduction Thread: http://forum.bitcoin.org/index.php?topic=13882.0
I wonder what his issue is, why he's pressing so hard about this.
The guy is a troll. We've dealt with this before, don't feed 'em.
One more question for Jered:
Deposit USD with Dwolla -> Buy Bitcoin -> Sell Bitcoin -> Withdraw Pesos in Chile
How is this not money laundering?
I agree bitcoin can be global, borderless. But exchanges will have to be LOCAL! International exchange accepting 22 currencies is hard to prove as a legal operation.
Deposit USD with Dwolla -> Buy Bitcoin -> Sell Bitcoin -> Withdraw Pesos in Chile
How is this not money laundering?
I agree bitcoin can be global, borderless. But exchanges will have to be LOCAL! International exchange accepting 22 currencies is hard to prove as a legal operation.
Are you seriously dumb enough to argue that exchanging one currency for another currency through an intermediary is "money laundering"?
What do you think Western Union does?
Jesus, stay out of the legal profession for all our sakes.
One more question for Jered:
Deposit USD with Dwolla -> Buy Bitcoin -> Sell Bitcoin -> Withdraw Pesos in Chile
How is this not money laundering?
Deposit USD with Dwolla -> Buy Bitcoin -> Sell Bitcoin -> Withdraw Pesos in Chile
How is this not money laundering?
Hi OrangeSun,
There is nothing illegal about transferring money around the global for international business.
The definition of money laundering is :"Money laundering is the practice of disguising the origins of illegally-obtained money. Ultimately, it is the process by which the proceeds of crime are made to appear legitimate."
Since we are not engaged in illegal activities, and we are not trying to conceal the source of our funds, then we are not money laundering.
For more info, see here: http://en.wikipedia.org/wiki/Money_laundering
Regards,
Adam
Adam, from the same wikipedia page:
Structuring: Often known as "smurfing," it is a method of placement by which cash is broken into smaller deposits of money, used to defeat suspicion of money laundering and to avoid anti-money laundering reporting requirements. A sub-component of this is to use smaller amounts of cash to purchase bearer instruments, such as money orders, and then ultimately deposit those, again in small amounts.[4]
Bitcoin can be considered a "Bearer Instrument".
Seems like pretty weak sauce dude.
Where's anything about anything Illegal which seems, accd to the (admittedly non-authoritative) Wikipedia, to be the defining element of money laundering?
Insofar as 'bearer instruments', what's the distinction between the wire transfer or Dwolla, Bitcoin, or the Chilean peso withdrawals?
I imagine that most everyone agrees that if there 'illegally obtained money' being moved around, the crime should be investigated and it's my guess and expectation that Tradehill would cooperate fully (probably it is in their TOS...I've forgotten.) I see nothing illegal about Tradehill's business, and the I know first hand that in the dealings I have had with them, there was nothing illegal on my end of things.
I would say you are shooting blanks so far. Perhaps some high-powered para-legal could jump onto Wikipedia and straighten them out if they have got it wrong.
Point isn't about my legal skills... point is that these guys are quoting wikipedia! I was being sarcastic by quoting it back.
Anyways, we will never get the real answer till someone gets sued. So locking this thread.
Jump to: