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Operation Onymous Did Not Take Down 400+ Sites

Buttcoin

Operation Onymous Did Not Take Down 400+ Sites

Nicsho 2 Comments November 9, 2014

Mark the calenders, kids. Remember, remember, the 6th of November. That’s the day that Operation Onymous arrested 17 people, worldwide, and shut down 414 hidden sites, including Silk Road 2.0, Hydra, Cloud 9, and… that’s all we know. Seriously, those are the three sites being cited by every article. There is no official list of all the sites taken down by this joint-joint-joint-joint-joint operation. There are supposedly 414 sites down, yet no verification as to what exactly these sites are. Forbes is saying that

…the number of actual sites seized appears to be less than 20% of that number. (Source)

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Blake Benthall and the Terrible, Horrible, No Good, Very Bad Day

Buttcoin/ Captains of Industry/ Crime/ Top

Blake Benthall and the Terrible, Horrible, No Good, Very Bad Day

Buttcoin blake, drugs, dumbass, fbi, seized, silk road 5 Comments November 7, 2014

Poor Blake Benthall.

What’s a former SpaceX engineer to do when your favorite drug buying marketplace, Silk Road, goes under? Do you possibly risk going outside, into the real world,and interact with other people?No, of course not. You start a new drug empire and invite an FBI informant to be your number two on the very first day of operation.

And that wasn’t even the dumbest thing he did during the rise and fall of Silk Road 2.0.

Read More

The Winklevoss Twins Bomb at Money20/20

Buttcoin

The Winklevoss Twins Bomb at Money20/20

Nicsho 2 Comments November 4, 2014

The Winklevoss twins, known internationally as the half-CGI duo that Mark Zuckerberg may or may not have stolen that Facespace thing from (he didn’t; they’re idiots), have various Bitcoin investments:

• A $1.5 million investment into alleged Silk Road laundering firm BitInstant.

• $11 million worth of Bitcoins, which at one point was 1% of all Bitcoins and was valued at up to $64 million before a “flash crash” dropped the price down to $120 per Bitcoin.

• “Winkdex“, a Bitcoin index that measures seven different markets in real time to relay the value of the ‘Coin.

• The “Winklevoss Bitcoin Trust“, a highly-anticipated, all-Bitcoin fund that the duo is trying to get on the NASDAQ stock exchange. If successful, it will be the first publicly-traded Bitcoin fund ever. (FYI, the paperwork says each share will be about $20.09, max, so get in while it’s hot!)

winklevoss1

Just what the Bitcoin community has always clamored for: government intervention and regulation! You sure do know your audience!

They are also PERFECT for Bitcoin, saying it “potentially could be more impactful” than Facebook, a statement whose grandiosity cements their place in this delusional community. To put that into perspective, Blockchain announced that after five years Bitcoin has passed 2 million wallets (not users, mind you), while Facebook has famously accrued over a billion users in a little over twice that time. Welcome, fellas!

"We have elected to put our money and faith in a mathematical framework that is free of politics and human error." Tyler Winklevoss #bitcoin

— Bitcoinest (@bitcoinest) October 31, 2014

Recently, at the currently ongoing Money20/20 conference in Las Vegas, the duo hit the stage and delivered what is being described as “a history of money”.

It was shit.

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Butterfly Labs Has Become a Legal Clusterfuck

Buttcoin/ Captains of Industry/ Scams

Butterfly Labs Has Become a Legal Clusterfuck

Nicsho bitcoin, buttcoin, Butterfly Labs, Captains of Industry, FTC, Harassment, scam, stupid, Trial 2 Comments October 30, 2014

On October 28th the FTC released a statement opposing the defendants of the Butterfly Labs case (Darla Drake, Nasser Ghoseiri and Sonny Vleisides) intent to pay for their attorney fees with frozen funds. If you remember fondly, Butterfly Labs stole that cash from consumers, so the FTC is saying they shouldn’t be allowed to use said stolen funds to support/defend themselves. Note that this is just them opposing it, since they aren’t actually ruling on anything. That’s the courts job.

Meanwhile, the Western Missouri District Court just published a new 2 page order saying Butterfly Labs needs to stop acting like a huge asshole or else they’re going to be called into court for a separate case to talk about their behavior.

So whats been going on? According to the report:

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Is It Stealing if the Vendor Doesn’t See You Take It?

Buttcoin/ Crime/ Editorial/ Scams

Is It Stealing if the Vendor Doesn’t See You Take It?

Nicsho bitcoin, buttcoin, fail, Lessons, Morality, Pumpkin, Pumpkins, reddit, scam, Stealing, stolen, stupid, terrible 10 Comments October 23, 2014

I want you to read the following block of text without thinking about how well your day is or isn’t going. This will induce spastic cringes so powerful your sleep apnea will be cured.

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The Greatest (Bitcoin) Movie Never Made

Buttcoin/ Captains of Industry/ Reddit

The Greatest (Bitcoin) Movie Never Made

Nicsho 2 Comments October 22, 2014

There is an incredible thread on r/Bitcoin right now on how Bitcoin clearly isn’t catching on through its 1 documentary, so the cult should spread the ‘Coin to fiction. Specifically movies, or, to, be more specific, heist movies.

THIS IS THE BEST BITCOIN IDEA, EVER. They could do so many “Based on a True Story”-type movies, because Bitcoiners, as a community, have been scammed and stolen from countless times. I don’t even need to list examples like Mt. Gox or MintPal, just Google “Bitcoin Stolen”, and you get a list as long as long as pi.

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Why People Dislike the Cult of ‘Coin.

Buttcoin/ Editorial/ Reddit

Why People Dislike the Cult of ‘Coin.

Nicsho crazy, cult, flock, reddit, sheep 12 Comments October 19, 2014

Because I’ve been doing more digging for Bitcoin-related stories, I have certain sources I tend to go back to. One of them is /r/Bitcoin. It has been one of the best spots for researching anything I have ever come across for a reporter such as myself. It’s like the all scams, misogyny and bad ideas come right to me! (But I look other places as well, because I’m not lazy, like CNN.)

I have no real opinion of Reddit. I actually kind of like it to be honest even though I personally never used it. It just seemed like some popular link site that had weird groups like the Bitcoin nuts in addition to being the homebase of the Men’s Rights movement. I got turned off by things like that and Adrien Chen’s article on Violentacrez but now, thanks to BTC, I’m back.

Throughout the time I’ve known of /r/Bitcoin I’ve figured it attracts a lot of newbies wanting to learn about the ‘coin. Seems reasonable, right? It is the first source listed in the “Keeping Up to Date” section on everyone’s favorite Bitcoin Starter site, WeUseCoins.com (now owned by Butterfly Labs).

In life, there are many things we know we don’t know. There are things we know that we know. There are known unknowns. But what we do know is that there are 76% of Americans don’t have a clue what a Bitcoin is. Either they don’t know its a thing, or they don’t really care. In the same survey linked above, 80% of people said they’d rather have Gold over Bitcoin, probably because Gold is easy to explain and, economically speaking, proven.

But what about those few who genuinely want to know more? What about the men and women who are genuinely excited about such a interesting concept? Those who want to dip their toe into “The Currency of the Future”? What does the Reddit Bitcoin community, linked to by many of the most prominent Bitcoin introduction sites, do to help them, the newest of newbies, looking for the most “Up to Date” info?

The answer is just harass them, apparently.

Case in point:

Read More

Business Owner sounds off about Bitcoin Missionaries trying to convert him, the flock does not take well to dissenting opinions.

Buttcoin/ Captains of Industry/ Reddit

Business Owner sounds off about Bitcoin Missionaries trying to convert him, the flock does not take well to dissenting opinions.

Buttcoin business, reddit, shills, welcome 2 Comments October 16, 2014

In a Reddit thread where the Bitcoin community tries an outreach program to understand why someone who understands Bitcoin would still have a negative view of it, a lone small business owner speaks up (now edited) and offers an insightful opinion on why he doesn’t think that Bitcoin is worth the trouble for his shop:

I am a business owner. My sole interaction with Bitcoin comes from Bitcoin missionaries.

Not a single Bitcoin missionary has come in that hasn’t raised my ire. From being told that it’s “natural for older people to fear technology” (I’m in my 30’s) to being told that Bitcoin will allow me to make “real money”, it’s been nothing but a condescending shitshow of buzzwords.

It doesn’t save me money on credit cards. Don’t bother, I’ve walked through this with them before. But then they say “Well, what about POLITICAL reasons, hmm?”

If I’d listened to the kids who come into my store, I’d be locked into a bunch of $1000 coins lost in Mt. Gox. Then, later, I’d invest in that new business-minded bank, Neo Bee, which would help me with all my commerce needs! Then, to top it off, I could get a Robochain ATM to further bilk my customers.

There’s a never ending swarm of condescending college kids trying to pitch me ideas that end in disaster over and over. I’ve written about them before. Remember the whole “YELP LOVES BITCOIN!” thing? Yeah, I had to scrape those fucking “promo” stickers off my door.

The thing is, like I said, Bitcoin doesn’t help me. But you know how I hear about Bitcoin? From the same type of people that come in trying to get me to sign up for “United Electro Company TO SAVE BIG MONEY!” or “Totally not a scam ATM Company TO MAKE YOU BIG MONEY!”

And, like I said, it doesn’t help that I keep getting pitched ideas that fail. Plus, as much as you guys talk about how it isn’t about the price, you should connect to the guys handing out pamphlets business-to-business.

There is literally no difference in behavior from someone coming into my store trying to scam me, and the Bitcoin people. Same behavior, same pitches, same everything.

So now when an awkward kid dressed in their dad’s ill-fitting suit come ins, dragging a buddy and pamphlets, we play the following game:

Watchtower or Blockhain?

Reddit, in their ongoing effort to seem friendly to newcomers and help them understand the nuances of the technology and how it can better their lives, puts their best foot forward and respond to common criticisms.

They call him a liar, a troll, and try the same tired schtick he’s just got done explaining that he’s heard a million times before.

Read More

Buttcoiners Becoming Buttleggers: How One Cigarette Smuggling Operation Will Get Everyone Involved Arrested

Buttcoin/ Captains of Industry/ Crime/ Reddit

Buttcoiners Becoming Buttleggers: How One Cigarette Smuggling Operation Will Get Everyone Involved Arrested

Nicsho bitcoin, buttcoin, fraud, tax evasion 3 Comments October 16, 2014

Cigarette Smuggling: Its not just the thing your cool Uncle did for you in high school (besides letting you watch scrambled porn in his wood-paneled den). It is a huge, ever growing, worldwide industry that you probably didn’t even know was a thing. Not that its your fault: in the United States, anyone 18 or over can get them, pretty much anywhere, and turn their lungs into ash (you still can’t legally get fucked up on wine coolers, though). How bad could it be?

Havocscope puts the worldwide illegal cigarette smuggling trade at $50 Billion, with $10 Billion in the United States alone. Or if you’re in the tech industry, that’s 10 Instagrams!

How?! How is something that is legal pretty much everywhere (Sans smoking bans in specific places like bars, restaurants and Idaho) make so much money?! How could Boston be in a situation where it is selling a legal, regulated product, and yet 40% of the cigarettes sold there are black market? In NYC, the rate is estimated to be as low as 48%, and as high as 60% , bringing yearly losses of $419 Million dollars for the state. How does a regulated product you can buy pretty much anywhere bring about such a huge loss? More specifically, who would Ron Paul blame for all this?

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The Gyft that keeps on Gyving

Buttcoin/ Captains of Industry

The Gyft that keeps on Gyving

Buttcoin apple, gyft, itunes, scam 0 Comment October 15, 2014

Gyft is a gift card service that not many people have heard of. Its business is issuing digital gift cards, but the main draw is that it will accept Bitcoins as payment for their gift cards. This has made Gyft a de-facto payment processor for Bitcoin-to-Fiat conversions, being the only way to spend Bitcoins at places like Amazon or Home Depot. You will see this commonly trotted out as a “killer app” for bitcoin, being able to move them to a 3rd party while Gyft farts out a digital gift card code to be used anywhere the merchant wants nothing to do with Bitcoin.

Today Gyft announced that they would now be selling iTunes gift cards! This got posted to /r/bitcoin on Reddit and hit the front page pretty quickly.

Unfortunately it’s one of the few things they will NOT be accepting Bitcoin for. Bitcoin sales account for more than 85% of their business so I’m not even sure why they bothered.

Enterprising Redditors have found a way to bypass this restriction and use Bitcoin on iTunes.

 

What about you buy their new Gyft Card and then change it to iTunes? There is always a work around.

See, you can buy iTunes with Bitcoin

https://www.gyft.com/buy-gift-cards/gyft-card/[1]

The Gyft Card allows for maximum flexibility. You can redeem the Gyft Card against any retailer on the Gyft platform, ranging from Amazon.com to Whole Foods Market. Instructions to redeem your Gyft Card:

  1. Copy your Gyft Card code.
  2. Select the gift card you would like to purchase and hit “Buy Now”.
  3. Paste your Gyft Card code into the Promo Code box and validate.
  4. Complete the payment process.

Which seems to work but I’m still not sure why you couldn’t just use a credit card? Or even just cash at your local Walgreens? It’s not like these are hard to find.

We found this very handy flowchart on how this whole process is supposed to work. You might want to bust out your dot matrix printer for this one, it’s kind of long.

gyft-itunes-flowchart

Either way I’m sure this will go well with Apple and not get the cards yanked like Walmart did earlier this year.

 

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