Post
Topic
Board Bitcoin Discussion
Re: BurtW arrested
by
jonald_fyookball
on 25/01/2015, 01:29:46 UTC
From the document, it doesn't look like this was from simple face to face transactions using localbitcoins... it looks like he was somehow involved with running an exchange.

Unfortunately I think the gov sees face to face transactions using localbitcoins as "running an exchange".

Even the LBC site gives you tips on how to "run a bitcoin cash exchange for fun and profit".

It is a shame that he faces time in prison for allegedly doing something so harmless.

A prosecutor would likely have a hard time convincing a jury
that a few transactions is running a business.

However, a large number of transactions is another story.

Unfortunately, if you are going to be doing a lot of
trading, you need to use a legitimate exchange
to keep your nose clean.

I consider this an assault on individual rights as
one should be free to transact voluntarily with
other individuals, but that's the current reality.