27 Aug '12, 9pm

Bitcoins were invented to teach libertarians what an unregulated market is like.

Bitcoins were invented to teach libertarians what an unregulated market is like.

Remember pirateat40, the e-currency banker we speculated could be the Bernie Madoff of Bitcoin ? Well, it looks like he owes a lot of people money. On August 17, pirateat40 announced the closure of Bitcoin Savings & Trust , a virtual hedge fund that promised to pay high rewards to investors who parked their Bitcoins there. Ten days later, investors are still waiting to get paid and pirateat40 is on the defensive. "When I know, you will," says his away message in the fund's official chat room, an effort to quiet the loudening chorus of, "WHERE ARE MY BITCOINS ?" Pirateat40 consistently maintained that he made his money legitimately through secret investment strategies. The announcement that BS&T was shutting down was similarly vague and obtuse : The decision was based on the general size and overall time required to manage the transactions. As the fund grew there were large...

Full article: http://mobile.theverge.com/2012/8/27/3271637/bitcoin-savi...

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Suspected multi-million dollar Bitcoin pyramid scheme shuts down, investors revolt

Suspected multi-million dollar Bitcoin pyramid ...

theverge.com 27 Aug '12, 7pm

Remember pirateat40, the e-currency banker we speculated could be the Bernie Madoff of Bitcoin ? Well, it looks like he ow...

Bitcoin Pyramid Scheme Shuts Down, As Pyramid S...

pandodaily.com 27 Aug '12, 8pm

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rt.com 29 Aug '12, 7pm

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news.hitb.org 29 Aug '12, 3pm

Remember pirateat40, the e-currency banker we speculated could be the Bernie Madoff of Bitcoin? Well, it looks like he owe...

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narudomr.blogspot.com 27 Aug '12, 4pm

เงินเป็นตัวแทนในการทำธุรกรรมซื้อขายแลกเปลี่ยนสินค้า และในปัจจุบันเงินมีอยู่หลายสกุล ไม่ว่าจะเป็น บาท ดอลล่าร์สหรัฐ ยูโร เป...

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news.feedzilla.com 29 Aug '12, 9am

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Large Bitcoin Ponzi Scheme Collapses With a Los...

news.slashdot.org 29 Aug '12, 11am

"Despite the many people calling it out as a Ponzi scheme from the beginning, Pirateat40 was able to collect millions of d...

Large Bitcoin Ponzi Scheme Collapses With a Los...

news.slashdot.org 29 Aug '12, 9am

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bitcoinnews.com 26 Aug '12, 8pm

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New on Unpacked! Passing the BitCoin

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blog.malwarebytes.org 24 Aug '12, 6pm

BitCoin is a new-ish form of digital currency. It allows people to perform financial transactions without the need for a b...