The Blackpool Bitcoin Millionaires

[BigHandsOliverKahn]

I don't think I have laughed so hard in ages at a news report shown in last night's BBC North West Tonight (available on iPlayer here).

The written report is here but the actual news story showing where they lived compared to their sudden wealth together with the expressions of disbelief in the voices of the police investigators is well worth watching the North West Tonight clip.

I think they will make a film out of this story one day. The icing on the cake was how they came to get caught.

 

[Costero Poderoso]

There's something interesting about this in that Crypto currency is simply a massive ponzi scheme, which is supposed to be illegal. If Bitcoin is a currency then its also illegal as under law only sovereign states can issue currency. if crypto is a tradeable commodity then it doesnt meet the requirements of commodities, and therefore should be banned.

Stealing crypto should be a bit like stealing illegal narcotics, if you stole illegal narcotics you would be done for possesion with intent to distribute.

I read recently that there are several hundred million dollars worth of lost bitcoin, which people own, but have lost access to or simply forgotton about. If anyone was to find that lost bitcoin who would it belong to?

 

[groundsman]

Crypto is only a way of a community trading between themselves. If you want to accept it as a payment like a barter system that's your choice. Its only worth what another person perceives its worth. Add to that its the only currency accepted in black market online trading. That's why governments want to regulate and control.