I was thinking to buy some bitcoins but i have few concerns since using Localbitcoin is i am not sure really the right way to go. I did hear from few friends which they warned me that feds are trying to use sites like that to catch people selling their bitcoin in $5K or more in person and then they would accuse you of laundering money. (i dont want to go into jail because of bitcoins)

What do you think about this things? I did hear some sort of stories occur in past. It might be an issue to be aware off or not?