@AlpacaSW @robzon Pirateat40 (Trendon Shavers)comes to mind: 7% interest in Bitcoin per week! And the early exchang… https://t.co/qTsdKUl7u7 - Crypto Insider Info - Whales's
Posted at: March 28, 2018 at 08:23PM By: @AlpacaSW @robzon Pirateat40 (Trendon Shavers)comes to mind: 7% interest in Bitcoin per week! And the early exchang… https://t.co/qTsdKUl7u7 Automate your Trading via Crypto Bot : https://ift.tt/2EU8PEX Join Telegram Channel for FREE Crypto Bot: Crypto Signal
Shower Thought: For many us, bitcoin was reason why we first shared our passport/ID, bank account details, and money with 16-30 year old strangers from different countries (e.g. Zhou Tong, Mark Karpeles, Matt Ulbricht, Trendon Shavers, Nejc Kodrič, etc.)
At the same time, we're interested in bitcoin because of its decentralization and how it lets us control our own money. Clearly, we're willing to let decentralization take a backseat when greed clouds our vision. And when greed clouds our vision, we're willing to let this guy, or this guy or these guys literally hold thousands of our dollars. Seriously, if you saw these guys in any other context besides "I can get rich!," would you let them hold five of your dollars? We've created the exact same centralization and systems of middlemen only it's worse because our deposits are not insured and we've given up all consumer protections. So here's to that. Let's drink a toast and learn to laugh at ourselves.
I am a newbie to Bitcoin, but what a fascinating story. I listen to Bitcoin Uncensored on Sticher. An interview with Trendon Shavers, aka 'Pirateat40' on early days, ponzis, and lessons learned from Bitcoin Uncensored - http://stitcher.com/s?eid=45963049&autoplay=1
A signed version of this message can be found here https://pastebin.com/Lp5Djs5R Hello. I am the BearWhale. After a series of bad experiences with the banking system, I invested most of my life savings into bitcoin when the price was fairly low, around $8. For years I was a HODLer. I was holding when Trendon Shavers ripped everyone off. I was holding when the price was over a thousand, and I held after MtGox imploded. I believe strongly in Bitcoin’s decentralized promise of displacing immoral national currencies. The price kept drifting downwards until finally at a little over $300 I had enough. I sold off everything, based on an accumulation of information I gathered mostly from social media such as bitcointalk.org and reddit:
The block size limit of 1MB was a threat to bitcoin’s future
“Satoshi’s vision” was unlimited block sizes
Gavin was ousted by a cabal of self-interested engineers, a.k.a. “Blockstream”
Blockstream took control of bitcoin’s source code repository
Theymos colluded with Blockstream to censor block size increase discussions
The subreddit bitcoin heavily censored block size increase discussions
Blockstream wanted the block size low to promote its proprietary Lightning Network
Gregory Maxwell was a bad actor and Luke-Jr was a religious nut
The market agreed with the above, leading to the then-decline in price towards $300
At this point I should state that I am a highly technical person. I understand all of the math behind the bitcoin whitepaper and the software that powers it. Although, I am not a security expert nor am I a cypherpunk - only a little experience in the type of adversarial thinking necessary to be a competent steward of the technology. I don’t regret selling, as I made an enormous profit. The decision was a rational one based on available information. However, in 2017 I went all-in on bitcoin again and here’s why: None of the supposed facts which motivated my decision to sell were correct. It was all a carefully crafted and funded disinformation campaign launched by Roger Ver and his cronies, perhaps Jihan Wu, to discourage improvements to the bitcoin protocol to achieve financial gain at the expense of the community. Once I recognized the moves to discredit the core developers for what it was, a covertly operated smear campaign fought on social media, funded by enormous enrichment from bitcoin, carried out with sock puppets and appeals to emotion, I looked at bitcoin and the greater community again with a more critical eye and I came to the following conclusions:
Bitcoin is working great: look at the fees people are willing to pay
Resistance to poorly thought out protocol changes is a feature not a bug
Core developers are highly competent, from reading the mailing list
SegWit is incredibly well engineered to create the least network disruption
The subreddit btc is filled with negativity and meaningless attack
Roger Ver is a con man who uses his bitcoin.com domain to push his agenda
Bitcoin mining is centralized due to Bitmain’s temporary monopoly on retail hardware
ASICBoost is an exploit which has broken some economic incentives of bitcoin
Absent Bitmain, bitcoin the currency is far superior to altcoins
Although I am of course an adult fully responsible for my decisions, I want to make it clear that Roger Ver’s agenda was successful at convincing me that bitcoin had a “governance crisis” and was at risk of being overtaken by altcoins. My reason for this open letter s simple: I want the community to know that I fully support the core developers. I am strongly in favor of UASF as a mechanism for liminating the centralizing effect of miner control illusions. I support SegWit as a sensible technology for moving Bitcoin forward. I reject a block-size increase hard fork at the present time. I reject a phony “compromise.” And I especially resent and reject a consortium of suits coming to an “agreement” on what source-code base will be named “bitcoin” without that code base being thoroughly vetted over a suitable long time-frame by industry professionals. Those industry professionals include Gregory Maxwell and most of the people who participate regularly on the bitcoin developers mailing list and contribute pull requests to the bitcoin-core repository. tl;dr; I am the BearWhale: I sold Bitcoin for the wrong reasons, and now I am all-in and long bitcoin again.
Trendon Shavers (known as Pirateat40 or simply Pirate) was the operator of the largest scam in bitcoin history: he operated a ponzi scheme which initially promised a guaranteed a daily profit of 1%, and then disappeared with an unknown amount of bitcoins in August 2012. Thoughts were that the amount was about 500,000 bitcoins, valued around US $5 million at the time. Trendon Shavers, who operated Bitcoin Savings and Trust, was also ordered by U.S. District Judge Lewis Kaplan in Manhattan to forfeit $1.23 million and pay restitution in the same amount for ... SHAVERS pled guilty on September 21, 2015, to one count of securities fraud before U.S. Magistrate Judge Sarah Netburn. Today’s sentence was imposed by U.S. District Judge Lewis A. Kaplan. U.S. Attorney Preet Bharara said: “Applying a modern spin to an age-old fraud, Trendon Shavers used a Bitcoin business to run a classic Ponzi scheme ... La Corte Federal de Manhattan declaró culpable a Trendon Shavers por los cargos de fraude fiscal federal y fue sentenciado a 18 meses de cárcel; también a retribuir la suma de 1,2 millones de dólares en pérdidas a los 48 inversores implicados.. La sentencia, que fue dictada por el juez Lewis A. Kaplan, es la primera sentencia federal estadounidense que involucra a Bitcoin. Trendon T. Shavers and Bitcoin Savings and Trust, Civil Action No. Civil Action No. 4:13-CV-416 Final Judgment Entered Against Trendon T. Shavers, A/K/A/ "Pirateat40" - Operator of Bitcoin Ponzi Scheme Ordered to Pay More Than $40 Million in Disgorgement and Penalties. The Securities and Exchange Commission announced that, on September 18, 2014, a United States District Court in Sherman, Texas ...
"Top 10 Bitcoin Villains" is presented by Bitcoin.com 1 Mark Karpeles 2 Trendon Shavers 3 Alex Green aka Ryan Kennedy) 4 Steve Chen (gemcoin) 5 Danny Brewster 6 Josh Garza 7 Carl Force & Shaun Bridges In this video I discuss new information about the bitcoin savings and trust. I talk about how Trendon T. Shavers created a pyramid scheme offering investors 7% yield a week. This man went by ... itcoins – the currency of the Internet – continue to make waves globally after the first bitcoin securities fraud case was reported from the US earlier this month. Trendon Shavers, a Texas ... Interview with Jason Seibert about the SEC's allegations against his client Trendon Shavers, AML compliance programs, the OFAC list, and the future of bitcoin's status as money under federal ... 32-year-old Trendon Shavers of McKinney, Texas was charged today under suspicion of misappropriating about 146,000 of his investors' bitcoins. Prosecutors are calling this the first federal ...