Bitcoin Heist: Millions Vanish from Online Black Market

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meowmix44

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The silk road is back and strong, they waited for the FBI to back off then resumed their usual business.
 

palladin9479

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And this is the downside to using unregulated currency like BTC. It's decentralized and unregulated so governments can't do anything with it, they also can't protect you from the people who will scam you.
 

SirGCal

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Protect them? From a narcotics site? Their money was bunk the second it went online. I just don't understand the 'drug' people, feeding off the weakness of others for a buck. Makes me sick. But then to think that the same people stole from their buyers... makes me laugh. That's exactly the same mentality that got everyone to that site to begin with so where's the surprise?!?
 

happyballz

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@Palladin
And how is this any different from government currency? Like they would be able to find your money if stolen from the house, bank or better yet government's vault. "Regulated" has nothing to do with security of your money or them being able to "protect" your cash on-hand. FDIC only can "guarantee" up to $100k which is peanuts in the grand-scheme of things.
The only difference is bitchoin "banks" if you will... have absolutely no credibility and are not reliable -more to do with the place than the currency.
 

Shaun o

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There will always be people ready to con you out of your money be it hard earned, gifted ect, collected.

Greed, power, corruption, theft follow it
Any form of money, or currency.
Welcome to the world of "Computer says no Bitcoin."

Like all things in life the only faith and trust you have is in just yourself. You just like to think you have it in other people.
 

p05esto

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Yea, can't say I trust bitcoins at all... with that said I WISH I picked up a hundred of them at the low and sold today. Grrr that really sucks. Woulda Coulda Shoulda
 

Cazalan

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All currency is virtual at this point. Your local bank and credit cards just have some basic protections built in against theft.

With any investment you never want to have it all in 1 place.
 

Wixman

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Just got ripped off by their drug dealer. Boohoo. Not a surprise... nor should it be. It's so easy to do from behind a computer that people tend to forget that they're, technically, breaking the law. If you have to use an ANONYMIZER to do it, it's pretty damn likely that you shouldn't be.
 

Pailin

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I think you are far wrong Wixman, jumping on the media inflated OMG Bad Stuff "sells news papers" POV as your perception of What Is, that point of view is truly shortsighted. Lots of legitimate businesses also operate there.

Though to your point in meaning of those particular marketplaces within TOR - not used those and could be right in those Particular instances.
- can also argue that too:
Even then you have corrupt Govs telling you what you can and cannot do based on laws created by them as Wrong as Nixon wanting to clear away Peace Protestors during the Vietnam War and making cannabis illegal to do so as his administration noticed a high % of them smoked it. (before making cannabis illegal in law he could not legally remove them)
- people are looking for ways around what Should be Illegal oppression.

- Yet you appear to stand Beside such acts and happy to be told what you should Think by your corrupt officials?
I feel sorry for you mate :(



The official banks and governments are already ripping us off Big Time for amounts that make this look like pocket change. If You did what they do now, you would be thrown in jail So Fast !!!!!!!!

- The banks lend FAR more out that they have to lend.
- Governments print money when they feel like it, UK did this not so long back - raising inflation (same as taking money directly out of your account).

You or I do those things = Extremely illegal. But that is the way the system works on a day to day basis.

People are looking for ways to get away from that too. Something like BitCoins could be a freedom from that.

Wake up and create your future the way it Should be and stop living as pawns to greedy idiots.
 

gm0n3y

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Given that no servers are truly safe from hackers, it's hard to imagine putting any sizable amount of money into bitcoins. All it takes it one breach to lose everything. Bitcoins are a great idea, but I just can't see them working in the long term.
 

husker

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@Pailin
Yeah, I guess if you don't recognize the authority of established governments, then you can call any business "legitimate". I really have to laugh at your argument that it is somehow oppressive that governments can print money while individuals can't.
 

anti-painkilla

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@husker He is pointing out that the governments print money to solve all their problems which using basic economics hurts everyone by lowering the value of each dollar.
 

palladin9479

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Sorry guys but no. FDIC insures your bank deposits up to $250,000 and no matter how you want to paint them, bank executives / owners can't just take your money from the bank and walk away with it. BTC is a currency used for many things not just illegal drugs from shadowy sites, there are many exchanges that don't require anonymous access to get to. Since it's an unregulated currency there is nothing a law enforcement entity can do about thefts like this.

Also don't whine when you lose a bet. Stock / fund markets are just legalized gambling, your betting that the price is higher when you sell then it is when you buy. Someone is betting that it isn't. Often the high rollers have stacked the odds against you.
 
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