Liberty Reserve Just shutdown, Or Seized by the Goverment



Budovsky's businesses in Costa Rica apparently were financed by using money from child pornography websites and drug trafficking.
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Well that's not very nice of him.
 
Vadym said:
Well that's not very nice of him.
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Right. The government has never whipped up fake charges and/or started wars to keep their monopoly on currency.

Thank god we live in a free market society.

EDIT: Now that I thought about it more, I can almost promise you that every other merchant account provider online has been used at one point or another for the exact same thing. I guess we should also shut down VISA/MasterCard/PayPal to stay consistent.
 
Whats with all the bad press about CR lately. I'm guessing the local politicians haven't been paying off the right ppl.
 
eliquid said:
^^ CR hasnt been secure for a while buddy
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It isn't that bad really. I still live here and been here for 18 yrs.. I'm not saying it's safe but no worse than some cities in the states.

Most people that run into trouble down here is because they do bad deals with the wrong kind of people or flaunt their wealth and put a target on their own heads.

Just sucks that bad people have bad shit happen to them and as a result CR gets a bad name.
 
nickCR said:
It isn't that bad really. I still live here and been here for 18 yrs.. I'm not saying it's safe but no worse than some cities in the states.

Most people that run into trouble down here is because they do bad deals with the wrong kind of people or flaunt their wealth and put a target on their own heads.

Just sucks that bad people have bad shit happen to them and as a result CR gets a bad name.
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he means secure in the politico-financial sense
 
Vadym said:
Well that's not very nice of him.
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I think you misunderstood that.
What this means is that LR has been used on such sites as payment, and the USG used the cp/drugs excuse to raid another business in a sovereign country, under the umbrella of money laundering laws.
You could not sell/buy LR directly, you had to use a certified exchange for that which would work legal under their respective legislations. Every LR was backed by USD/EUR and gold. LR has operated the last 11 years legally in Costa Rica.
I think that ML laws don't even apply here and LR was raped purely on shady accusations based on the "everything-goes buzzwords" cp&drugs, i am just surprised they didn't use terrorism also.

I hope it's not needed to spell out that you can do the same with the USD in a envelope, and much more. Stupid propaganda for stupid people.

And it doesn't surprise me the least that he was arrested in Spain, a country ruled by un par de hijos te putas in desperate desire to suck it up to the USG when ever they get a chance.


nickCR said:
Whats with all the bad press about CR lately. I'm guessing the local politicians haven't been paying off the right ppl.
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eliquid said:
^^ CR hasnt been secure for a while buddy
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Care to elaborate ? I am honestly interested.
First i also was like WTF Costa Rica ? but then i came to realize that in our age and time, no country can risk to be put into the black book by the USG for not abiding to money laundering laws.

I think this act sends a very clear message to a lot of people.

And i just found that :
Liberty Reserve is a digital currency used frequently for adding funds to and withdrawing funds from Bitcoin exchange markets.
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https://en.bitcoin.it/wiki/Liberty_Reserve

What a coincidence. That Budovsky was on the "fuck him" list of the USG didn't help either.
Wheres my tinfoil hat ?
 
mattseh said:
I didn't know you used templating engines.
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I was using templating engines (YACG) before you knew what Python was!

Bitcoin has political risk. Liberty Reserve has political risk.

You can't mitigate political risk technologically. You have to mitigate it socially.
 
LR was used by thousands of Exchangers and internet crooks. Sometimes LR was exchanged at a 20% fee to paypal. The demand was damn high and the exchangers were making a ton. Guess all these people got fucked big. Some people have probably lost upwards $50k.
 
Cigar said:
internet crooks.
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50-cent-o.gif
 
20figures said:
EDIT: Now that I thought about it more, I can almost promise you that every other merchant account provider online has been used at one point or another for the exact same thing. I guess we should also shut down VISA/MasterCard/PayPal to stay consistent.
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It's not quite the same thing. It's impossible for a merchant to verify that in millions transactions on a daily basis there aren't transactions issued for money laundering.
Budovsky business seems to be based upon a laundering scheme and most money seems to come from child pornography.
 
Flash4Ever said:
It's not quite the same thing. It's impossible for a merchant to verify that in millions transactions on a daily basis there aren't transactions issued for money laundering.
Budovsky business seems to be based upon a laundering scheme and most money seems to come from child pornography.
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Now tell me, what were Bitcoins used before 2012/2013? On the deepweb and all the hacking/carding forums sellers mostly ONLY accepted Bitcoins. Child porn was traded and sold among those sick bastards with Bitcoins. You could hire a (fake) hitman for 10k Bitcoins (back then Bitcoins were traded at $3, so $30k in total). Botnet owners mined with all their zombie machines and made a shit ton, daily.

Bitcoins are fucking awesome, the creator behind it is simply brilliant! But I think that once the Gov. comes behind it it'll try and put a stop on it. Just how? And how far can the Gov. go?

Bitcoins and 3-D Printers have one idea behind it: Liberty. Greed and Liberty are archenemies and one can not live if the other is around. The US, with all the brainwashed people who live there who think the country is the true definition of Liberty, is actually one of the countries who does everything to fight against Liberty, against things that can possibly attack them and their system.

We can not feed the worlds greed without hurting another. The owner of LibertyReserve is not the first who had to feel the definition of Liberty.
 
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